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Stanbic IBTC, Dangote Cement announce largest ever Commercial Paper issuance by a Nigerian company

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Stanbic IBTC Capital and Stanbic IBTC Bank, subsidiaries of Stanbic IBTC Holdings PLC, have partnered with Dangote Cement PLC, Africa’s largest cement producer, to announce the issuance of the N50 billion Series 1 and 2 Notes, the largest ever Commercial Paper (CP) issuance by a Nigerian company, under the recently established Dangote Cement PLC’s N150 billion CP Programme, announced on 27 June 2018. Reflective of Dangote Cement’s top notch ratings (Aaa/AA+ by Moody’s/GCR), the Series 1 and 2 notes priced at thin spreads of 25 and 50 basis points over the chosen primary market Sovereign benchmark rate, to achieve discount rates of 12.40% and 12.65% respectively.  

 

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Stanbic IBTC Capital acted as sole Arranger of the CP Programme while Stanbic IBTC Bank is the Issuing, Calculation and Paying Agent on the transaction. The Series 1 and 2 Notes will be listed on Nigeria’s FMDQ OTC Securities Exchange on Thursday 19 July 2018. Funds raised in the CP Programme are expected to be used for capital expenditure, working capital and general corporate purposes, according to parties to the deal.

 

Speaking at the signing ceremony, which held at Dangote Cement PLC headquarters in Lagos on Tuesday 3 July 2018, Kobby Bentsi-Enchill, the Executive Director and Head, Debt Capital Markets, Stanbic IBTC Capital, expressed delight that Stanbic IBTC Capital advised Dangote Cement to accomplish this landmark CP issuance. According to Mr Bentsi-Enchill, Stanbic IBTC Capital is committed, in line with the Stanbic IBTC Group’s value proposition and investment banking pedigree, to assist businesses with high-quality advisory and arranging services that would enhance their growth and expansion prospects by providing access to a diverse range of financing options within the domestic capital markets.

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“Stanbic IBTC Capital will continue to exploit opportunities to help provide businesses with access to critical funding, short and long term, for their needs. This, we expect, will help stimulate growth via the mobilisation of debt and equity capital market instruments,” Bentsi-Enchill said. “We will continue to leverage our excellent investment banking pedigree as well as the strength of our franchise in the Standard Bank Group, the largest financial institution in Africa, to consummate such big-ticket deals that will not only help businesses grow but also help deepen our markets, even as we tap into government’s industrialisation drive,” Bentsi-Enchill added.

 

The Group Chief Executive Officer, Dangote Cement PLC, Engineer Joseph Oyeyani Makoju, said the choice of Stanbic IBTC as a partner in the CP Programme was an easy one considering the financial institution’s strong pedigree and expertise in investment banking.

 

On the issuance, Makoju stated: “This landmark transaction is the largest-ever Commercial Paper issuance by a corporate issuer in Nigeria. It allows us to broaden our sources of funding and combine established bank lines of credit with access to capital market funding, which will lower our overall cost of borrowing.”  Makoju added: “The success of this programme reflects the high quality of our business and its strong cash generation, made possible by our market-leading positions in Nigeria and across Sub-Saharan Africa, where demand for cement is growing rapidly.”

 

The establishment of the Dangote Cement PLC Commercial Paper Programme is another testament to Stanbic IBTC Capital’s industry leadership in investment banking, issuing house and financial advisory services. The company has played a pivotal role in the resurgence of commercial paper in Nigeria following the release of guidelines on the issuance of the corporate debt financing solution by the Central Bank of Nigeria. Dangote Cement was advised by Stanbic IBTC Capital Limited as sole Arranger and Dealer, Stanbic IBTC Bank PLC as Issuing Calculation and Paying Agent, Banwo & Ighodalo as Legal Counsel and Deloitte & Touche as Auditors to the Issuer.

 

Stanbic IBTC Capital Limited is a member of Stanbic IBTC Holdings PLC. Stanbic IBTC Holdings PLC, a member of Standard Bank Group, is a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group is the largest African bank by assets and market capitalization. It is rooted in Africa with strategic representation in 20 countries on the African continent. Standard Bank has been in operation for over 155 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.

 

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Afriq Arbitrage System Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

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Jesam Micheal, the Rise of the Moon Among Stars, A Game Changer By Femi Oyewale 

Afriq Arbitrage System Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

 

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The board of directors of Afriq Arbitrage Systems after an emergency meeting condemned in strong terms the attitudes of Prince Humble Eteng, Michael Okoh, Okoi Daniels, Engineer Awajioma and others about their nefarious activities to injure the longstanding reputation the organisation has maintained and in a final resolution, resolved that the above parties be sued for defamation and has slammed a ten million dollar lawsuit with a suit number w/2011/2024 against them at the High court of the Federal capital territory in the Abuja judicial division on Monday, April 15th, 2024 on charges bothering on cyber bullying, attempt to life and property, lies and unlawful incitement and instigation against the CEO of the company , Jesam Micheal, his family and organisation.

 

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In the lawsuit through the legal representation of Jesam Michael and AAS by Barrister Ovat the service required the defendants to appear In court within 14 days, else judgement will be issued against them in absentia.

 

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It would be recalled that few days after series of cyber bullying against the CEO of Afriq Arbitrage System, Jesam Micheal and his Family by MICHEAL OKOH, PRINCE HUMBLE ETENG,OKOI DENOCK in collaboration with one TOCHUKWU NWOYE, DINGCHI YARLING, Godwin, Benjamin Uwanga and Findins, Jesam escaped assassination attempt as gunmen numbering over ten, armed with sophisticated weapons invaded his lounge in Lagos seeking for him.

 

Afriq Arbiritage System, Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

 

Information available to us revealed that when the hardened criminals invaded the lounge on Friday, April 5th, 2024 where Jesam was billed to address his workers, they were demanding for him and when they learnt he couldn’t make the meeting as expected, they descended on the staff and customers threatening to kill them in his stead. They also went away with the company’s properties such as laptops, equipment and gadgets of staffers and customers.

 

Micheal Okoh who has been ranting on Social media against the CEO of Afriq Arbiritage System has been exposed along with Prince Humble Eteng, Okoi Denock as partners in crime with Abayomi oluwasesan who is in prison for defrauding the financial platform to the tune of $87 million dollars

 

According to reports, Micheal Okoh is an investor in AAS who has benefited from the scheme and has withdrawn over three thousand dollars which he never disclosed to his gullible followers until the evidence was uncovered and exposed to the community.

 

Aside from that, information revealed that Micheal Okoh, Prince Humble And Okoi Denock have been working in tandem with Abayomi in plotting the loot from AAS and threatening the life of Jesam Michael and his family. In a series of life threatening messages the plotters swear to eliminate him and his family for standing on the path of truth, justice and for arresting Abayomi in recovering the loot. Also, these revelations are not unconnected to the fact that these people engineered Abayomi not to return investors money back to the community.

 

However, the long arm of the law will soon reach them as Abayomi who has willingly confessed to the heinous crime he committed to the company is arrested and taken to court where he is Remanded and Micheal Okoh and his cohorts we learnt are also on the radar of the security operatives for collaboration and cyber bullying.

 

 

 

Sadly, the threat to life of the CEO and his family by these people should not be taken lightly as just as Mr Micheal Okoh said in his video that he will bring him down, same day, gunmen were sent to invade AAS lounge on the same day he was to address his workers for the year.

 

 

According to the security officer of the company, the ugly incident has never happened before on any of their investments until this brazen threats from Mr Okoh and others.

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Wema Bank Launches Anti-Fraud Campaign to Protect Customers*

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HACKAHOLICS DIGITAL SUMMIT 2023: WEMA BANK LAUNCHES AFRICA’S LARGEST GATHERING OF INNOVATORS, DISRUPTORS, REGULATORS, POLICYMAKERS, INVESTORS & CUSTOMERS IN THE DIGITAL SPACE

*Wema Bank Launches Anti-Fraud Campaign to Protect Customers*
*….Takes Firm Action Against Fraudulent FINTECH Partners*

 

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Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital Bank, ALAT, has launched an anti-fraud campaign to protect its customers and other Nigerians against fraudulent activities perpetrated by some wallet accounts and fintech partners.

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As the bank at the forefront of digital innovation and a top enabler in the FinTech landscape, Wema Bank powers a plethora of FinTechs across Nigeria, allowing them to operate seamlessly through Wema Bank’s 3rd Party Wallet Accounts. Due to the recent hike in fraudulent inflows into these wallet accounts, the bank has taken a firm action against fintech partners whose account activities have been found guilty of fraud.

Through the anti-fraud campaign launched recently, Wema Bank has successfully investigated, identified, and disengaged 3 FINTECHs partners for Fraud and suspended 4 FINTECHs partners from its platform in its ongoing efforts to ensure responsible partnership, adherence to regulatory procedures and conformance to CBN KYC guidelines. There are ongoing audit and review of FINTECH partners processes as part of the grand plan to ensure that we get the anticipated/desired results.

The Anti-Fraud Campaign targeted at creating awareness, educating, and equipping customers with necessary information needed to mitigate, detect and handle fraudulent activities on their bank accounts further underscore the bank’s commitment to safeguarding customers’ finances and personal data.

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Wema Bank’s Chief Audit Executive, Oluwole Esomojumi, disclosed that the anti-fraud campaign is designed to protect customers from fraudulent activities and providing them with necessary information for detecting the evolving tactics of fraudster and to also solidify our position as the bank that stands fully against fraud.

According to him, “The antics of fraudsters are constantly evolving. To stay steps ahead, it is imperative that consumers have good understanding of what interaction or engagement are telltale signs of fraud and how they can handle suspicious fraudulent engagements, hence the launch of the Wema Bank Anti-Fraud Campaign. We are steps ahead on our end which is why we have taken time to investigate our fintech partners and those found culpable have been disengaged from our payment gateway platform.”

“As a bank that is resolute in our stance against fraud, we cannot compromise the safety of our beloved Nigerians, especially when these threats of fraud are emanating from Fintech who use our platforms. Rest assured, there is no room for fraudsters here. We have multiplied the frequency of our security checks and are committed to rooting them out one by one. No fraudster is safe with Wema Bank because at Wema Bank, customer safety is our priority and empowering the lives and businesses of every customer is our mission”, he concluded.

The fight against fraud is one that is clearly personal to Wema Bank and with the sturdy layers of security measures initiated and executed by the bank to sustain consumer protection beyond the direct responsibilities of the bank, Wema Bank is making its entire ecosystem inconducive to fraudsters.

To escalate fraud cases connected to any Wema Bank account(s), customers are to send an email to frauddesk@wemabank.com as the platform is live and active 24/7.

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Nestlé’s Nutritionist, Cissoko, Provides Insights On Harmonious Transition To A Balanced Diet After Ramadan

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Nestlé’s Nutritionist, Cissoko, Provides Insights On Harmonious Transition To A Balanced Diet After Ramadan

Nestlé’s Nutritionist, Cissoko, Provides Insights On Harmonious Transition To A Balanced Diet After Ramadan

The sacred month of Ramadan came to an end about 24 hours ago with Eid al-Fitr celebrations which mark the end of the fasting period.

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Nestlé’s Nutritionist, Cissoko, Provides Insights On Harmonious Transition To A Balanced Diet After Ramadan

This technically raises the issue of how to smoothly return to daily eating habits after the sunrise to sunset, no water or food long hours.

Then, breaking the fast at sunset, followed by one to two more meals before dawn. Meals during Ramadan are often more abundant and richer than usual, consumed at unusual hours of the night.

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As the sacred month of Ramadan comes to an end with Eid al-Fitr, the celebration marking the end of the fasting period, many people wonder how to smoothly return to their daily eating habits. How can one make this transition without any hiccups and adopt behaviors that promote a healthy diet while avoiding post-Ramadan nutritional pitfalls?

To guide you in this process, Dr. Cissoko, Nutritionist at Nestlé, provides some insights for a harmonious transition to a balanced diet after Ramadan.

Readjusting Your Digestive System without Rushing:

To avoid potential stomach discomfort, bloating, constipation, or diarrhea, it is recommended to opt for easily digestible foods. Fish is preferable to meat as it is lighter and easier to digest. Cooked vegetables with low fat content are also gentler on the digestive system compared to raw vegetables. Whole or semi-whole grains are rich in fiber and promote a healthy intestinal transit. Fully ripe fruits are also easier to digest than unripe ones.

Water, on the other hand, is your best ally for a smooth transition before returning to a normal diet. In addition to maintaining the body’s water balance, it plays an essential role in digestion by facilitating the process and helping eliminate toxins. Water remains the best beverage.

Lastly, prioritize small portions and take the time to chew your food well, which allows for better digestion and optimal nutrient absorption.

Opt for Gradual Changes, the Key to Dietary Rebalancing:

For a smooth transition after Ramadan, it is recommended to adopt a measured and thoughtful approach, whether in introducing different food groups or in the frequency and intensity of physical activities. Take the time to gradually introduce foods in a balanced manner, ensuring to include all necessary food groups for a healthy diet. It is important to note that physical exercise is of paramount importance in the context of a balanced diet. Light activities such as walking are particularly recommended at the beginning. They stimulate the body without subjecting it to excessive efforts. Over time, you can gradually increase the intensity of these physical activities according to your abilities. This gradual approach is the key to regaining dietary balance after Ramadan.

Avoiding Post-Ramadan Nutritional Pitfalls:

It is important to remain aware of potential nutritional pitfalls that could hinder a balanced diet.

Excessive Sugar Intake: After a period of fasting, it can be tempting to indulge in excessive sweets and desserts. It is essential to limit the consumption of added sugar and prioritize natural sources of sugar, such as fruits.

Excessive Portions: After fasting, it is common to want to compensate by eating larger portions. However, this can lead to overeating and calorie imbalance. It is important to maintain moderate portions and eat slowly to better feel satiety.

Ensuring a Good Variety of Foods: After Ramadan, it is essential to maintain a balanced diet by ensuring the inclusion of a variety of foods to guarantee an adequate intake of essential nutrients. Make sure to include a wide range of fruits, vegetables, lean proteins, whole grains, and sources of healthy fats in your meals.

Maintaining Proper Hydration: After a period of fasting, it is important to ensure adequate hydration. Make sure to drink enough water throughout the day to maintain good hydration. It is recommended to consume at least 2 liters of water per day.

Being Mindful of Snacking: Prioritizing structured meals over snacking helps maintain a healthy weight and avoid unnecessary calorie intake.

Listening to Your Body: Relearning to listen to hunger and satiety signals is a valuable skill to adjust your diet to your true needs.

Planning to Avoid Slip-Ups: Anticipating and preparing meals is an effective strategy to stick to a balanced diet and avoid impulsive food choices.
The period following Ramadan is an opportune time to establish or reinforce healthy and sustainable eating habits. By taking conscious steps, each individual can make the most of this transition to nourish their body and mind.

At Nestlé, we encourage and support this journey by offering a variety of products and tips to accompany you in your quest for a balanced diet.

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