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  • Heritage Bank Partners Road Transport Workers On Insurance Scheme For Travellers

    Heritage Bank Partners Road Transport Workers On Insurance Scheme For Travellers

     

    Heritage Bank in partnership with the Road Transport Employee’s Association of Nigeria (RTEAN) has launched the Travelers’ Accident Insurance Scheme (TAIS) to assist road accident victims across the country.

     

    The scheme which was launched on Friday, aims to address deaths associated with inability of travelers involved in accident to offset hospital bills.

     

    The Regional Executive, Abuja and North, Heritage Bank Plc, George Okoh-Oboh, speaking at the launch of the scheme in Abuja, commended the thoughtfulness of the Association in coming up with such program to save the lives of accident victims.

     

    He stated that the partnership would help address the road safety crisis due to the tragic loss from a road crash death or severe injury which was compounded by the harm to families, social networks, and national economies.

     

    According to him, the majority of victims are part of the working-age population (between 15 and 64 years old). In fact, road crashes have become the #1 killer of the young worldwide.

     

    He pledged the continued support of the bank in ensuring the success of the scheme.

     

    Okoh-Oboh said, “At Heritage Bank, we believe in this project and we are ready to support it as it seeks to address accidents on the road.

     

    “This project will save lives of many Nigerians, so we are not just here to see what comes in but we are here to add value and ensure that it succeeds.”

     

    The National President of RTEAN, Musa Muhammed in his remarks said that the scheme aims at promoting the welfare of passengers, while ensuring security for passengers’ property.

     

    He explained that the scheme would provide support to passengers who may be involved in accident at the course of their journeys.

     

    “This scheme covers all Nigerians involved in accidents that require medical attention while on a road trip.

     

    “This is part of effort to assist and improve the Nigerians transport system,” he added.

     

    According to him, the scheme will cover only parks owned and operated by members of the Road Transport Workers Association.

     

    He further stressed on the need for the government to deepen investments in road infrastructure, while ensuring security along the major road.

     

    Nicholas Tofowomo, Senator representing Ondo South Senatorial District of Ondo State at the 9th National Assembly, urged transporters to ensure that workers are properly licensed and vehicles insured.

     

    This, he noted, would ensure the effective implementation of the scheme.

  • 10 Customers To Become Millionaires In UBA Savings Promo

    10 Customers To Become Millionaires In UBA Savings Promo

     

    Pan African Financial Institution, United Bank for Africa (UBA) Plc has announced that 10 of its  loyal customers will get a chance to win N1,000,000 each, in the ongoing UBA Savings Promo which is scheduled to hold on to May 7, 2021 at the bank’s corporate head office, in Lagos.

     

    This unique promo intends to appreciate loyal customers of the bank, who have stayed with the bank over the years, and will also offer fresh opportunities for potential and intending customers to join the growing number of UBA millionaires who have in the past benefitted from the ongoing Promo.

     

    To qualify for the draws, new and existing customers of the bank are expected to save N10,000 monthly or N30,000 at once for 3 months; before each draw date. Savings account holders eligible for this draw include Target, Bumper, Next Gen, Savings, Teens & Kiddies).

     

    Some past winners who cut across all regions of the country and have previously benefitted from the promo include; Nnadumije, Ebube Dawn; Onwochei Christiana Okwukwe; Eze Mathias Nnaji; Christian N Orie; Uka, Okwudiri; Okata Stephen Uche; Okafor Onyinye Esther; Nwanekezi Chimezie Jude; Ayomide  Yahaya and Olanegan, Oyetunde Keji.

     

    Others are Emmanuel Onu Chidozie; Mohammed Fatima; Aminu, Mustapha; James Nanre; Pahinti Albert; Emmanuel O Adeniji; Jaki Movihinze Mercy; Saminu Muritala Mohammed; Ezeh Raphael Uballa; Uchenna Iheji. Already the winners have claimed their cash prizes and are currently spreading the news so others can take advantage of this once in a life time opportunity.

     

    Speaking ahead of the forthcoming draw, UBA’s Head, Personal Banking, Ogechi Altraide,  said that without a doubt, UBA’s passion for the growth and overall success of its customers cannot be overemphasized, adding that this has consistently been proven in numerous ways. She explained that the bank has consistently invested in cutting edge technology to improve its service delivery and its overall aim of delighting customers.

     

    She said, “With customer-centric promos like the UBA Savings Promo, we have created an ever increasing list of millionaires who continue to join the UBA customer millionaire club. For this edition of the promo, we decided to pick the month of May, which is the month that workers are celebrated across the world for their efforts at contributing to the growth of the economy. We know that this promo will put lasting smiles on the faces of our customers and will also assure them that UBA truly values them’” Altraide said.

     

    UBA’s Head, SME Banking, Sampson Aneke, spoke of UBA’s continuous commitment to give back to its customers especially during these challenging economic periods, where people need all the support they can get to make life more meaningful.

     

    “With this in mind we decided to prioritise them in as we always do at UBA, by giving them plenty to cheer about and that is the reason for the Promo. I have been privileged to visit some of the customers who won in January, and we were more than fulfilled to see happiness and gratitude on the faces of the lucky ones when their cash prizes were presented to them. That feeling is special. So I enjoin those who are yet to join the winning team, to do so. You never can tell, the next big millionaire could be you,” Aneke said.

     

    United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points, in 20 African countries. With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

     

  • Grobank Formally Becomes Access Bank South Africa

    Grobank Formally Becomes Access Bank South Africa

     

    Grobank Limited has been officially renamed Access Bank South Africa Limited, this followed the completion of all regulatory procedures.

     

    The deal was finalized after Access Bank’s acquisition of controlling shares in the former Grobank Limited, South Africa.

     

    With this development, Access Bank South Africa Limited is positioned to deliver a robust banking operation that connects key African markets.

     

    At an official closing ceremony in Sandton on Monday, top executives of the two banks were upbeat about new opportunities for clients, noting that the Bank will continue to support all its stakeholders, while opening doors to growth both in the short and long term.

     

    CEO of Grobank Bennie van Rooy said, “This is an extremely exciting day for the South African banking industry. Our corporate customers will now have increased access to trade finance, treasury, international payments and loans through the wider distribution network offered by Access Bank’s presence in the key trade corridors that connect Africa to the rest of the world.

     

    “Banking with Access Bank South Africa means greater security as well as access to more products and services through a best-in-class digital platform, and a full retail banking suite will soon be on offer.”

     

    CEO of Access Bank Plc, Herbert Wigwe said: “Today’s ceremony in South Africa seals our commitment to delivering our strategic aspirations of becoming Africa’s Gateway to the World, in line with our vision to be the World’s Most Respected African Bank.

     

    “We look forward to the many opportunities our collective experience and deep understanding of the African market brings to our valued clients, and the journey ahead being one of great promise for our institution and the continent.”

     

    Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.

     

  • COVID-19 Made Outdoor Advertising Get Little or No Allocation  -LASAA MD

    COVID-19 Made Outdoor Advertising Get Little or No Allocation -LASAA MD

     

    The Managing Director of the Lagos State Signage and Advertisement Agency (LASAA), Prince Adedamola Adekunjo Docemo has disclosed that the Out of Home advertising got little or no allocation as companies were badly hit by COVID-19 pandemic and as such, advertisers cut down on budgets drastically. 

     

    The Managing Director made this known recently in Lagos during an interactive session with Brand Journalists where he disclosed: “Because people were not moving around so we had a lot of vacant boards but gradually, things are beginning to pick up and normalize again. People have resumed their businesses physically and the roads have become busy again which automatically means OOH advertising is getting more patronage than what was obtainable when the economy was newly hit by the pandemic.

     

    Speaking on the level of compliance in terms of registration and permit fee payment from clients during the pandemic, he pointed out that, “the compliance was commendable and appreciated the practitioners.

     

    According to him, “we are very considerate and empathetic people in LASAA. We understand what is happening globally, hence, we display same understanding to our clients when approached, but to our amazement, they have been very cooperating in terms of registering their structures and making payment for permit fees. The response to compliance is even more than the previous years because, last year, LASAA was rated the 4th outstanding revenue generating Agency in Lagos which is a testament to the fact that our clients are cooperating regardless of the resultant effects of the pandemic.”

     

    On what the agency is doing for Clients to ensure ease of doing business, he stated, myself and my team members are seriously in tune with best practices obtainable in other contemporary organisations which includes ease of doing business.

     

    “Our application processing time is short, such that when a client registers, within a very short time, we issue approval. Now, we have even gone online so as to have less paper work. Clients can now download our application form for any of our products from our website, view rates therein and even pay online without needing to come to our office.”

     

    “Instead of having to come from far and near, we have functional communication channels such as telephone lines, email and social media handles where they can ask questions remotely and be promptly responded to.

     

    To enable our very numerous clients to afford our rates, we recently reviewed them downwardly and also had vacant board policy wherein practitioners are allowed to pay conveniently in three installments where their structures are empty and without advertisement.” He added.

     

    While comparing radio, television, and online advertising with outdoor, he stated that, outdoor still has advantages because it not everybody that watches the television and listens to the radio but they easily see adverts displaying on billboards while in traffic, while driving and they can easily be seen in streets wherever they are displaying.

     

    Continuing, he pointed out that, “the number of people who see them is more than those who have access to online advertisement. Moreover, the traffic of those who listen to radio and television is low compared to those who see and read advertised products on billboards.

     

    With much vacant boards across Lagos, he said the encouragement the agency is giving to practitioners is that, “we have also had downward rate reviews.

     

    First, there was a 35 percent decrease in the rates for LED advertising structures then there was 30 percent reduction done on other third-party structures. We have also waived three months of permit fees for practitioners to cushion the effect of the Covid 19 pandemic.”

     

    “The Agency had a vacant board discount policy in the past which is under review  for a win-win benefit for the Agency and practitioners. So, we believe all these will serve as motivations for outdoor practitioners to do more in meeting their statutory obligations.

     

    He further stated that, “LASAA is much open to the public. We are in 25 local government offices across the State wherein our well trained staff members operate professionally by attending to Clients and ensuring that no business opens without registration.”

  • Surendran Replaces Ogunsanya As Managing Director/CEO Of Airtel Nigeria

    Surendran Replaces Ogunsanya As Managing Director/CEO Of Airtel Nigeria

     

    Airtel Networks Limited (Nigeria), a subsidiary of Airtel Africa plc, has announced the appointment of C. Surendran as Managing Director and Chief Executive Officer (MD and CEO) of Airtel Nigeria with effect from 1 August 2021.

     

    In addition, Mr. Surendran will be appointed to the Executive Committee (ExCo) as Regional Operating Director, reporting to the CEO of Airtel Africa plc, and onto the Board of Airtel Networks (Nigeria) Limited.

     

    Mr. Surendran replaces Mr. Olusegun (Segun) Ogunsanya.  Mr. Olusegun (Segun) Ogunsanya will become Managing Director and Chief Executive Officer of Airtel Africa plc with effect from 1 October 2021, with a transition period from 1 August 2021.

     

    Mr. Surendran has been with Bharti Airtel since 2003 and has contributed immensely in various roles across customer experience, sales and business operations.

     

    According to a statement by the telco, in his most recent role as CEO Karnataka, which is the largest circle in Airtel India with over $1bn in revenue, Mr. Surendran delivered exceptional performance with significant movement in Revenue Market Share (RMS) over last few years, currently at 54%.

     

    Surendran has over 30 years of business experience, including 15 years at Xerox.

     

    He will transition into his new role from 1 June 2021 and spend the time onboarding into the business until 31 July 2021.

  • FG Set To Merge MDAs, Slash Personnel Cost, Says Finance Minister

    FG Set To Merge MDAs, Slash Personnel Cost, Says Finance Minister

     

    The Federal Government is set to merge some of its ministries, departments and agencies and cut personnel cost as part of measures to reduce cost of governance.

     

    Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave the hint on Tuesday at the ongoing ‘National Policy Dialogue on Corruption and Cost of Governance in Nigeria’ held in Abuja.

     

    It was organised by the Independent Corrupt Practice Commission (ICPC).

     

    The minister said the FG would also remove some items from the budget in order to reduce government’s expenditure.

     

    She said that the measure had become imperative because “we still see government’s expenditure increase to a terrain twice higher than our revenue.

     

    “We need to work together, all agencies of the government to cut down our cost. We need to cut down unnecessary expenditure; expenditure that we can do without.

     

    “Our budgets are filled year in year out with projects that we see over and over again and also projects that are not necessary. “Mr President has directed that the salaries committee that I chair, work together with the Head of Service and other members of the committee to review the government payroll in terms of stepping down on cost.”

     

    She also said government agencies with the same mandate would be merged.

     

    The Steve Oronsaye Committee on restructuring of government MDAs submitted its report many years ago but had not been implemented due to lack of political will.

     

    Chairman of the ICPC, Mr Bolaji Owasanoye, identified the cost of governance as a major “driver of corruption in Nigeria”.

     

    He said that “payroll padding” and the “phenomenon of ghost workers” were clear cases of corruption and bloated personnel cost of the MDAs.

  • Heritage Bank’s YNSPYRE, CREAM Platform’s April Draw Produce Millionaires

    Heritage Bank’s YNSPYRE, CREAM Platform’s April Draw Produce Millionaires

     

    Heritage Bank has continued to fulfill its promises to support the Nigerian Creative Industry, as millionaires emerged from the YNSPYRE product in collaboration with the CREAM Platform.

     

    The YNSPYRE account holders who subscribed to the platform by dialing 745463# on all networks won over N12million during the second monthly raffle draw conducted in April at the weekend.

     

    The Heritage Bank’s YNSPYRE event commenced on a great note when D’banj and CREAM Platform introduced the CREAM Merit winners for March, BERRI, a music artiste who carted away sum of N10million in form of promotional, while Clara Aden, a visual artist received N1million in financial support and Hanzy, a music artiste got over N1million Naira in form of mentorship support as well as Merchandise support from partner company – Boomplay.

     

    Meanwhile, the April Raffle Draw produced 10 lucky winners of N50,000.00 each while cheques of N200,000 each were also presented to 5 Winners from the March 2021 Draw.

     

    The epoch-making event, held at the Balmoral Hall of Federal Palace Hotel in Lagos had in attendance alongside Divisional Head, Corporate Communications, Heritage Bank – Fela Ibidapo; Dapo Oyebanjo a.k.a D’banj and his partner – Oje Anetor; notable dignitaries from different walks of life – Director General of the National Lotto Regulatory Commission, Lanre Gbajabiamila and Stanley Mukoro. Also present at the draw were – Sunday Are, Chief Damian Okoroafor, Poco Lee, representatives of the NLRC, Boomplay and members of the media.

     

    Speaking during the April draw, Ibidapo stated that as a financial institution committed to delivering distinctive financial services to create, preserve and transfer wealth, Heritage Bank will continue to leverage its supports to the growth and development of the creative and entertainment sector.

     

    According to him the bank is proud of the entertainment industry and will continue to stand by operators in it by supporting them and watch them grow.

     

    He expressed optimism that the creative industry, if properly harnessed, has the potentials to reduce the level of unemployment in the country, boost wealth creation for the people and help the country generate the much needed foreign exchange.

     

    He noted that with the creative industry accounting for one of the highest exports from Nigeria, time has come for operators in the sector to be supported with the finances.

     

    With the April 2021 CREAM YNSPYRE producing another set of winners, D’banj reiterated his unending desire to boost the lives of creatives within Nigeria who will simply dial 745463# or *463# from all networks.

     

    “For a chance to be a part of next month’s draw, simply dial 463# or *745463# from any network, choose a category, upload your content on creamplatform.com and promote it to be a part of the Top 10 winners and the lottery winners,” he stated.

     

    He further explained that the Cream Platform has built a strong reputation for producing some of the brightest talents in the country over the last couple of years.

     

    He said the purpose of the platform was to have a creative hub for Africa where people can upload their contents, be discovered and get funding support from Heritage Bank.

     

    He said the platform would enable Nigerians discover their talents in areas such as entertainment, entrepreneurship, music, arts and other areas in the creative industry value chain.

  • MTN Loses 5 Million Subscribers, Records $385.1bn Revenue In Q1 2021

    MTN Loses 5 Million Subscribers, Records $385.1bn Revenue In Q1 2021

     

    Telecom provider, MTN has recorded a service revenue growth by 17.2% YoY to N385.1 billion during the first quarter of 2021. This is up 5.4% from the N365.2bn of the previous quarter.

     

    Karl Toriola, MTN CEO announced: “We made good progress in the first quarter of 2021 despite the continued impact of the COVID-19 pandemic.”

     

    As revealed in its reports the tremendous feat can be credited to the huge growth of data and voice revenue despite the impact of the pandemic and a decline in subscribers.

     

    The report further reveals that voice revenue, which generated 63% of the total sum, grew by 8.0% from N226.5Bn to N244.6Bn. This growth was supported by the 8.7% increase in traffic and customer value management initiatives. Data revenue saw even higher growth. The report shows that it maintained the positive momentum from Q4 2020, rising by 42.6% YoY to N105.6Bn.

     

    Expenses rose by 14.8% to N180.7bn, mainly driven by a 19.2% increase in operating expenses arising from an accelerated site rollout and the effects of Naira depreciation on lease rental costs.

     

    Similarly, Capital expenditure in the quarter was N89.9 billion, up 19.3% mainly due to site rollouts, while free cash flow increased by 18.9% to N114.7 billion.

     

    MTN explained that the effect of the SIM ban on voice revenue was offset by increased usage by active SIMs in its base and migration to a higher quality of experience.

     

    This was fueled by increased usage, traffic, the boost in 4G penetration and increased network capacity following the acquisition and activation of an additional 800MHz spectrum in March 2021.

     

    Insights from the report show that that data traffic increased by 86.7% with the addition of the 800MHz spectrum enhancing output by 79%.

     

    With the huge revenue MTN raked during the quarter, its profit should have been higher than the N73.7 bn reported. The dropped was caused by the double-digit growth in expenses.

     

    The telco however said the overall increase in expenses was partly mitigated by the comparatively moderate growth of 7.8% in the cost of sales following the suspension of new SIM sales and activations.

     

    Additionally, the report also shows that Mobile subscribers declined by 5 million to 71.5 million while Active data users declined marginally by 71,000 to 32.5 million.

     

    According to the Telco giant, the 4-month NCC ban on new SIM sales and registration effectively curtailed subscriber growth. During the ban, MTN lost a total of 9.2 million subscribers – representing 75% of the 12.2m subscribers it added in the entire 2020.

  • CFAO’s Winpart Launches Spare Parts e-Commerce Website for All Car Brands

    CFAO’s Winpart Launches Spare Parts e-Commerce Website for All Car Brands

     

    Winpart, a division of CFAO Motors and Nigeria’s fast-growing distributor in original vehicle maintenance spare parts, has launched an e-commerce website as part of its commitment to solve the fake parts dilemma faced by vehicle owners, and to deepen access to quality spare parts, at affordable prices, in the country.

     

    WinPart is the new Independent Aftermarket (IAM) automotive spare parts wholesaler, distributing top-quality certified spare parts, sourced directly from Original Equipment Manufacturer (OEMs) such as, Aisin, Bosch, Coopers Fiaam, Cworks, Denso, Dunlop, Kavo, Philips, Riken Tyres, Valeo.

     

    With its last-mile partner, Kwik, consumer purchases can be delivered within 2-hours in designated routes. Winpart offers maintenance parts for all vehicle brands and models and helps source scarce parts that are currently not in stock within an agreed time.

     

    Commenting on the development, the General Manager, Winpart, Olivier Buisson said; “As part of the CFAO family, we are known for quality, reliability, and providing convenience to our customers. With our spare parts, you can be sure of a first-time fit. This will help save cost, eliminate time wastage and unused labour, especially among companies who are keen on improving their business processes and delivery time.”

     

    Winpart has a wide range of maintenance parts which include car batteries, brake pads, tyres, air filters, cabin air filters, oil filters, bulbs, plugs, radiator cap, and lubricants for light vehicles, commercial vehicles, and trucks.

     

    Its partners have decades of experience developing the world’s leading Original Equipment (OE) parts for automakers and their brands are built on delivering value.

  • Stanbic IBTC Partners Lagos Employment Trust Fund to Support SMEs

    Stanbic IBTC Partners Lagos Employment Trust Fund to Support SMEs

     

    Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced its partnership with the Lagos State Employment Trust Fund (LSEFT) to train Small and Medium-Sized Enterprises (SMEs) in entrepreneurship through a series of financial planning sessions, tagged “Managing Your Finances.”

     

    Stanbic IBTC, through its regular financial planning sessions, has trained individuals, entrepreneurs and business managers in personal and corporate finance and has thus enhanced their knowledge in the areas of wealth creation, and improved business management and financial management skills.

     

    Speaking on the partnership, Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, noted that the collaboration between Stanbic IBTC and the LSEFT reflected the financial institution’s commitment to the growth and development of Nigerians and the economy.

     

    Commending the LSEFT for the promotion of entrepreneurship through improved access to finance, strengthened institutional capacity of SMEs and policies formulated to improve the business environment in Lagos State, Sogunle assured the LSETF of Stanbic IBTC’s resolute support in the development of SMEs in Nigeria.

     

    According to Sogunle, “This partnership is crucial because we will be taking beneficiaries through our highly specialised financial planning sessions where they will gain knowledge in different areas of financial management. We hope that the insights from this engagement will accelerate their entrepreneurial growth and empower them with the requisite financial knowledge to thrive in life and business. Stanbic IBTC embraces the opportunity to contribute to achieving the global sustainable development goals, amongst which are: reduction in the levels of poverty and hunger, economic growth and reduction in inequality.”

     

    The partnership has, not only supported entrepreneurs and business owners, but contributed to the achievement of the United Nations-backed Sustainable Development Goals (SDGs).

     

    Stanbic IBTC Holdings is an end-to-end financial services organisation and a part of the over 155-year old Standard Bank Group and is committed to enabling dreams and driving growth in Nigeria and across the African continent.