Stock markets worldwide have crashed with anxious investors fretting over the continued slide in oil prices and fears about the impact on global growth.
On Wall Street the Dow Jones and S&P 500 were 2% lower in early trading, while the Nasdaq fell 2.3%.
The FTSE 100, Germany’s Dax and the Cac 40 in Paris are all trading about 2.5% lower – resuming the year’s sell-off.
Many markets are now in so called “bear market” territory – a fall of 20% or more from their most recent peak.
The falls in Europe and the US came after Asian stocks closed sharply lower.
Markets in Dubai closed at a 28-month low, while in Japan shares fell to their lowest level since October 2014.
Top emerging market shares and currencies were also caught up in the turmoil, with the Russian rouble hitting a new record low of 80.295 against the dollar.
Asset prices were pumped up by ultra-low interest rates in the developed world and also by the central banks that have engaged in quantitative easing, buying financial assets with newly created money.
Nigeria’s non-oil exports has plunged by N1.2 trillion, the Central Bank of Nigeria, CBN governor, Godwin Emefiele, disclosed this on Wednesday, January 20,at a conference in Abuja on “Growing Nigeria’s Non-oil Exports.”
The apex bank boss blamed the decline on the low level of export loans from the banking sector.
According to him, available statistics showed that whereas credit to non-oil exports had been declining in the last five years, credit to the economy had been on the increase.
The CBN governor, who put the total credit to non-oil exports at 0.6 per cent of domestic credit to the economy, explained that such level of funding cannot unlock the potential of the non-oil sector and explained that the CBN and Nigerian Export-Import Bank (NEXIM) put together the conference with the aim of devising strategies to increase the sector’s contribution to economic growth.
“Exports are an essential component in the national income and it has a very important role in supporting the nation’s economy against the backdrop of weak oil prices. It has been observed that while credit to non-oil exports is declining and currently at an average of 0.6 per cent of total domestic loans to the private sector in the last five years, the domestic credit to the economy has been on the rise.”
“The low level of export loans has no doubt also contributed, to a large extent, to the decline in non-oil export revenue receipts from $10.53 billion in 2014 to $4.39 billion in 2015.”
“The impact of these developments to on the country’s export growth potentials are quite significant and has become instructive for stakeholders to dialogue towards evolving responsive strategies that will expand resources for exports and its funding programmes on a complimentary basis,” he said.
The federal government is set to net billions of naira with the implementation of the N50 Stamp Duty charge, which the Central Bank of Nigeria (CBN) directed all deposit money banks and other financial institutions to collect.
It is estimated that about N1.0 billion will be generated from cheque base transactions, asides what will be generated from electronic funds transfer, instant payments and cash deposits.
It is expected that the government will make more money from transfers, as banks’ customers now do more transactions online and through ATM transfers, making cheque transactions shrink.
According to data from the Inter Bank Settlement System (NIBSS) which processes all electronic transactions in the country, over 15 million cheques were processed in 2014 while over 10 million cheques had been processed by the end of 2015 third quarter.
Total electronic funds transfer and instant payments between January and September last year was 71.14 million. As at September 30, 2015, total current accounts in the country stood at 22.06 million.
The CBN had directed that banks and other financial institutions deduct N50 for every deposit above N1000 as stamp duty. Checks by Leadership revealed that most banks had begun to comply with the directive which was supposed to take effect immediately.
The N50 stamp duty is to be charged on all accounts except for savings accounts. Also deposit made by self into self accounts whether inter or intra bank is also not to be charged.
The naira on Wednesday, January 20 rose to 305 at the Bureau De Change (BDC) in Abuja and Lagos.
The dollar scarcity at the BDCs followed CBN’s last week of stoppage of forex sales to the BDCs in a new control on forex operations to save Nigeria’s foreign reserve currently standing at some $28 billion.
Also the CBN policy which closed the RDAS and WDAS windows in 2015 also stopped the banks from selling foreign currencies to BDCs.
The scarcity of forex in the nation’s money market has led to the surge in the prices of some imported goods in the country in recent times.
The consistent rise of the Dollar and other foreign currencies such as CFA, Pound Sterling and Euro against the naira has affected the prices of electronics, stationaries, and cloths, building materials, food such as sugar, rice vegetable and palm oil among others.
A bag of sugar in some markets in Abuja are now N9,000 up from N7,500 two weeks ago, a 25 litre of Vegetable and Palm oils now sold at between N7,500 to N8,000 from N6,700, Daily Trust gathered.
Battery pack AA size was N250 now is N350. Rice, a staple food in almost all the households in the country was affected by the price hike in the market, a 50 kg of imported rice is now between N10,700 to N11,000 and the 25 kg as high N5,500 from about N10,000 and N4,800 respectively in the December 2015.
At the electronic markets, phone such as BlackBerry, Infinix, Samsung, Nokia, and LG and their accessories went up sharply as some distributors increased the prices by almost 5 per cent when the naira crashed to about N300 per dollar two weeks ago.
A dealer in imported clothes in Sabon Gari area, Dayyabu Muhammed told Daily Trust that he had to constantly adjust the prices of his wares because if the prices remain fixed, the losses he would incur could cripple the business.
He said a new shirt for men which previously sold at N1,200 is now sold between N1,700 to N2,000 while a denim trouser rose from N2,000 to N3,000 or N3,500.
The Indian Government is set to host 22 African countries, including Nigeria, at the India-Africa Hydrocarbon Conference, spurring hope for increased oil export.
The conference which opens today, Thursday, January 21, in New Delhi will be the fourth edition of the event.
The government hopes to consolidate the talks that the Indian external affairs minister, Sushma Swar, and petroleum minister, Dharmendra Pradhan, had with delegates at the India-Africa Summit three months ago.
India’s domestic production of crude oil has hovered at 37 million tonnes (mt) and is likely to remain at this level with little likelihood of future discoveries and technological breakthroughs.
Africa is likely to be a significant source of meeting India’s hydrocarbon needs in the years to come which will also help India diversify its source of crude from volatile West Asia.
In 2014, India imported 32 mt of crude, 15 per cent of its consumption that year, from Africa. This was primarily from Nigeria and Angola and currently, India’s oil imports from Africa stand at 7.5 per cent. Nigeria is among India’s top four sources of gas which include Qatar, Australia, and Equatorial Guinea.
India imports 76 per cent of its crude oil needs, which by 2030 is estimated to reach 90 per cent, and the country also imports 37 per cent of its gas requirement.
In 2015, India’s gas imports from Africa doubled compared to 2013; India accounted for 8 per cent of Africa’s gas exports in 2015, compared to 4 per cent in 2013, official sources said.
Seventeen per cent of India’s refined products are headed for Africa and New Delhi expects this figure to rise to 20 per cent.
Giant multinational oil company, Royal Dutch Shell is expected to report a near halving in profits in the last three months of 2015 following the further slide in oil prices, it said on Wednesday, January 20.
This is coming a week before shareholders meet to vote on its $47 billion deal to take over rival BG Group.
Giving preliminary estimates for results ahead of the meeting, Shell said its underlying fourth-quarter earnings on a current cost of supplies basis would be between $1.6-1.9 billion, down from $3.26 billion a year ago.
Oil prices plunged by another 24 per cent in the fourth quarter as global supplies continued to outstrip demand, further eroding oil companies’ upstream revenues.
However, BG, which also provided a short trading update on Wednesday ahead of its own shareholders’ meeting on the takeover deal next week, positively surprised investors by beating its 2015 production target.
“We believe the in-line performance of both companies should be viewed positively prior to the Shell shareholder vote,” an analysts at BMO Capital Markets who rates Shell shares as ‘underperform,’ said.
The companies aim to have cut a combined 10,000 staff and contractor jobs by the end of this year and Shell said on Wednesday that it could further cut combined capital investments below the $33 billion targeted for 2016.
Shell shareholders are set to cast their votes on the deal on January 27, followed by BG investors the next day, the final hurdles to be cleared for the deal, one of the biggest energy sector acquisitions in the past decade, to proceed.
The resumption of bullish run on the Nigerian Stock Exchange, NSE, on Wednesday, January 20, halted the lingering southward movement.
The All-Share Index recorded the highest day-on-day gain since the year began by 3.91% to 23,335.01 points, compared with the depreciation of 0.42% recorded Tuesday, January 19.
Year-to-date (YTD), the Index depreciated by 18.53%.
Similarly, the Market Capitalization appreciated by 3.91% to close at N8.03trn, compared with the depreciation of 0.42% recorded yesterday to close at N7.72trn.
The appreciation recorded in the share prices of FBN Holdings, GT Bank, Zenith Bank, Nestle and Dangote Cement were mainly responsible for the increase in the value of the Index.
The total value of stocks traded on the floors of The NSE today was N1.58bn, down by 19.92% from N1.97bn traded yesterday. The total volume of stocks traded was 242.53mn in 3,865 deals.
The three most actively traded stocks were: FCMB (37.29mn), UBA (36.17mn) and GT Bank (23.39mn). The most actively traded sectors were: Financial Services (205.36mn), Consumer Goods (10.32mn) and Services (7.33mn).
For the first time since 2003, the price of Brent crude oil sold below $28 a barrel on Wednesday, January 20.
America’s crude grade – West Texas Intermediate (WTI) sold at $26.62 and OPEC basket grade $23.85 a barrel on Tuesday, January 19.
Despite over 25 per cent slump in oil price so far this year with the attendant pains and fears, oil drillers and producing nations have continued to pump more oil into an oversupplied market.
Oil traders are concerned that the crude oil supply glut could last longer.
The world stock markets are declining. Nigerian stock market last week lost over N455 billion as stock prices failed to rally.
The International Energy Agency (IEA) said in a report that the world may soon drown in oversupply. Senior market analyst at Price Futures Group, Phil Flynn said there is also “a record short position in hedge funds and we have the promise of more Iranian oil on the world market. Add it all up and it’s causing the crude-oil market to crater around the globe.”
Iran’s production is expected to ramp up fairly significantly this year.
The country projects that its production will increase by 500,000 barrels per day (bpd ) in the coming weeks, along with a further 500,000 bpd in the next few months.
The Ibadan Electricity Distribution Company, IBEDC, recorded a deficit of N3.2 billion in revenue collection in 2015 even as the company is owed N5.9 billion by customers.
The Managing Director, IBEDC, John Donnachie, told newsmen at a briefing in Ibadan that they are operating in a tough economic environment but still try to be open and transparent in their operation and customer service.
Donnachie said since inception in November 2013, the company has not been able to collect bills enough to pay for the energy it bought. In other words, the company has been recording shortfalls in expected revenue since it started, adding that even with the new tariff planned for take-off next month, the company will not break even until 2017.
He noted that the cause of the shortfall in revenue is caused by the industry’s woes such as energy theft.
According to him, 50 per cent of bills generated are not collected owing to energy theft including bypassing of meters.
He stated that the company will continue to ensure customer satisfaction, adding that 100,000 new meters have been installed apart from the ones used to replace obsolete and dysfunctional meters.
Governor Abdullahi Umar Ganduje of Kano State has signed into law, the state’s 2016 Appropriation Bill, assuring that its implementation would commence immediately.
The budget, tagged ‘A Peoples Budget for Self Reliance,’ is in the tune of N274.3 billion, with 70 per cent of it devoted to capital expenditure, while 30 per cent was set aside for recurrent expenses.
Shortly after signing the bill, the governor disclosed that “it reflects the vision of the administration for diversification of the state’s revenue, with a view to laying a solid foundation for the pursuit of its development objectives”.
Governor Ganduje explained that although the budget is coming at a turbulent period in the governance of the state, the state Internal Revenue Service, with its technical partners have convinced the state executive and legislature that with political commitment, the set target would be achieved.
He expressed delight that the budget was subjected to public hearing, pointing out that to date; no state in the federation has allowed the public to directly make input in its budget.
However, he assured that the government would create an enabling environment for the state legislature to perform its oversight functions, while implementing the budget, stressing that the legislators are at liberty to visit any government Ministry or agency and monitor transactions for accountability and transparency.
ExxonMobil affiliate, Esso Exploration & Production Nigeria Limited, EEPNL, has built and donated community assistance projects worth over N100 million in six communities in Lagos, Ondo and Rivers states.
The projects include a community town hall and water purification plant in Onne, Rivers State; Water purification plants for Igbologun 1 & 2, Igboeseyore and Igbosu communities in Lagos State and the reconstruction of a community market and water purification plant for Igbo-Egunrin community in Ondo State.
Speaking at the hand-over of the projects to the community in Ondo State, the Project Executive, EEPNL, Mr. John Unietis, who was represented on the occasion by the Technical Manager, EPC2, EEPNL, Tunji Obawole, said the projects signified “yet another important step we have taken as an organization to improve living conditions in communities across Nigeria through investment in such infrastructure as clean and safe drinking water, as well as the promotion of economic well-being of these communities through various support schemes and initiatives.”
He said the water purification plant “is meant to improve the overall well-being of the community through the provision of clean, potable water thereby reducing the incidence of water-borne diseases in the community, along with their negative consequences.”
He added that the project was based on the Meckow Aquapur technology, which meant the plants could be powered by solar energy; could purify over 24,000 litres of water daily and is also durable.
Obawole further said EEPNL undertook the reconstruction of the Igbo-Egunrin community market to improve economic activity in the community, adding that as “the major market in the Ilumeje axis of Ilaje local government area, we believe the reconstructed market will help improve the economic well-being of the communities it serves through the provision of this enhanced operating environment.”
As part of the all-inclusive system of his administration, Governor Akinwunmi Ambode yesterday said that work was ongoing to absorb street urchins, popularly called “Area boys” into some of the law enforcement agencies in the state.
Ambode, at the second edition of the quarterly town hall meeting, held yesterday at Lagos Island, said the street urchins, whom he chose to call “the good boys” would be engaged to work in sanitary enforcement offices, Lagos State Traffic Management Authority (LASTMA) and Kick Against Indiscipline (KAI) to keep them busy.
The governor, who was responding to the public complaints on growing activities of Indian hemp smoking by street urchins in Lagos Island, said his government was also concerned about their activities and already working in conjunction with security agencies to manage them.
Megalectrics Limited, Operators of The Beat 99.9 FM, Classic FM 97.3, The Beat 97.9 FM and Naija 102.7 FM, seeks the services of talented individuals to fill the position below:
Job Title: On Air Personality (OAP)
Locations: Lagos, Port Harcourt and Abuja
Criteria
Must have a nice, charming personality and good interpersonal skills
Must be dedicated, hard working and a team player
Can work under pressure, learn new skills and meet set target
Must have a degree and finished NYSC
Must be resident in the location being applied for or has plans for accommodation if not.
Application Closing Date
12.00 PM, Sunday, 31st January, 2016.(Lagos)
12.00 PM, Wednesday, 17th February, 2016.(Port Harcourt and Abuja)
Method of Application
Interested and qualified candidates should send an MP3 recording of their voice, CV and a cover letter to: audition@thebeat99.com
Note: Shortlisted candidates will be contacted. Please ensure you specify where you are applying for in your cover letter.
Fan Milk Plc is a leading manufacturer and marketer of healthy, nutritious and safe frozen dairy and non-frozen dairy food products with distribution channels across the length and breadth of Nigeria. Fan Milk Nigeria is a well established and fast growing food processing industry offering wide range of products.
We are recruiting to fill the position below:
Job Title: Customer Development Representative for Ibadan – Outdoor Sales
Location: Oyo
Purpose
Create New Exclusive Agents in the Outdoor Channel within the specified period and in the assigned sales territory.
Principal Accountabilities
(Impact & Innovation)
Ensure creation of new Exclusive Agents in the assigned sales territory and achieve set target. Monitor and report sales equipment usage.
Must have an outgoing and convincing personality, with a sense of urgency, who can communicate at all levels and persuade key stakeholders into the right course of action.
Minimum of Bachelor degree in Marketing, Business Admin., Economics or other related discipline (2.2) and HND Lower credit.
Ability to Drive a Truck – possession of Class E Drivers Licence.
Must not be more than 30 years with minimum of 3 years FMCG experience in sales.
Is driven by his/her desire to perform.
Has broad experience with a structured approach to customer relationship management and business development.
Has excellent entrepreneurial and commercial awareness.
Possesses a high degree of assertiveness across cultural and educational diversity.
Good knowledge of the FMCG market.
Selling and Negotiation Skills.
Learning & Career Opportunities:
In this position, the incumbent will have an opportunity to acquire skills and knowledge in the following areas;
Work as a team member in a large Organisation
In-depth business knowledge of the business
Good (internal and external) communication skills
Local Government relationship and other stakeholder
Business development skills
Application Closing Date
Not Specified.
How to Apply
Interested and qualified candidates should APPLY
The Dangote Group is a diversified and fully integrated conglomerate with interests across a range of sectors in Nigeria and Africa. Current interests include Cement, Sugar, Flour, Salt, Pasta, Beverages, Noodles, Poly Products, Transportation and real estate with new initiatives in the Oil and Gas, Telecommunication, Fertilizer and Steel sector of the economy.
Dangote Cement P.L.C. is the biggest quoted company in West Africa and the only Nigerian company listed among Forbes Global 2000 Companies. The Company currently has several cement production plants in Nigeria in addition to presence in 14 other African countries. To consolidate its current strategic expansion drive and as part of our growing vision.
We are recruiting to fill the position below:
Job Title: Field Sales Manager
Location: Lagos
Requirements
Candidates must have 5 years minimum experience in a similar role in an FMCG or Manufacturing company.
Application Closing Date
Not Specified.
How to Apply
Interested and qualified candidates should send their applications and CV’s to:amaka.chete@dangote.com
We are looking for enthusiastic, career-minded, motivated, candidates to work in a professional business sales environment.
If you have a high level of energy, motivation and confidence, then you will feel right at home in this dynamic and professional team environment. You will possess outstanding communication and influencing skills as well as the ability to maintain and build on quality client relationships.
Job Position: Customer Service Representative
Location: Nationwide
Job Description
The Customer Service Representative will have responsibilities to execute on a sales strategy, achieve sales targets and generate revenue by closing business.
Skills Needed
Develop sales strategies to ensure achievement of sales targets, by understanding market requirements, company objectives, and solution capabilities.
Utilize a consultative solutions sales approach to identify client needs and present the solution.
Develop and manage a qualified pipeline of targeted opportunities on a continual basis.
Manage assigned accounts by building strong relationships with customers, gaining a thorough understanding of their requirements and long term goals, informing customers of new developments related to our services and solutions, facilitating troubleshooting, and resolution of problems.
Participate in solution demonstrations and presentations.
Your responsibilities include:
Answering customer inquiries in person
Answering customer inquiries by phone.
Requirements
Advanced computer skills.
Fluent professional English proficiency
Type a minimum of 50 words per minute. (Test yourself online if unsure!)
Excellent written and spoken communication skills.
Creative problem solver.
Must be willing to undergo a 10 day training before job opportunity begins
Ability to continuously develop and adapt to a growing team.
You hold yourself to high ethical standards
Educational Requirements
BA,BSC,HND,MSC (In some cases NCE and OND may be accepted). Remuneration
Salary is up to N150,000; this will depend on experience and other factors determined by employer.
The Central Bank of Nigeria (CBN) has released data stating that , oil and gas companies operating in Nigeria were fined N1.81 billion in nine months, between January and September 2015, for non-compliance with the Federal Government’s directives on gas flaring.
According to the Central Bank of Nigeria (CBN) in its Third Quarter Statistical Bulletin declared that in the first quarter of 2015, oil firms paid N670 million as penalties for gas flaring, while N790 million and N350 million were paid as penalty in the second and third quarters respectively.
The Federal Government also earned N424.27 billion and N310 million as royalties and rent respectively, from the oil companies in the nine-month period in addition to the penalties for flickering.
The Minister of Transportation, Rotimi Amaechi, has stated that the proposed maritime university by the Nigerian Maritime Administration and Safety Agency (NIMASA) has been cancelled by the Federal Government.
According to him, the reason for the cancellation was because similar institutions already exist in different parts of the nation.
He also stated that the activities of the agency will be investigated as it had not been fulfilling the roles for which it was created.
The ICT sector was a beehive of activities with the successful launch of many products, services, projects and initiatives targeted at improving the lives of its loyal customers and clientele in 2015.
MTN Nigeria, leading ICT and Telecommunications giant was not left out as it rolled out new innovative products and services as it continued to provide operational support to key sectors of the economy like banking, E-commerce, oil and gas and others. The positive impact was clearly visible and beneficial to its customers and Nigerians in general.
Below are ten projects and activities that made MTN the most-talked about brand in the ICT sector in 2015.
MTN Foundation at 10 Anniversary:
One of the many ways through which MTN Nigeria shone brightly in 2015 was the impact it made, and has continued to make through its CSR vehicle, MTN Foundation. Founded in 2005, the foundation positively impacts the lives of many Nigerians through its several activities and amazing works. Supported by MTN with 1% of its Profit after Tax annually, several life-changing initiatives have been deployed with project partners and state governments in 550 locations country-wide to improve the lives of ordinary Nigerians in Health, education, economic empowerment and Arts, culture and entertainment.
Apart from consolidating on existing projects by widening the pool of beneficiaries through its scholarship program, disability support project, EYEris project, school furniture donations, donation of dialysis and mammography machines across General Hospitals in the country which have positively impacted thousands of lives, the Foundation also launched its ‘What Can We Do Together’ initiative where Nigerians were invited to participate in and partner with MTN to identify and select areas of need requiring attention and support by socially responsible organisations like MTN. As a result of this collaborative process, 200 communities have benefitted from boreholes, transformers, school furniture and donation of household items for orphanages. MTNF has invested over N18bn on social investment projects countrywide.
In its bid to complement government’s efforts at providing succour to the needy, MTN Foundation also distributed relief materials to three Internally Displaced Persons’ (IDP) camps in North East, Nigeria in 2015.
The relief materials, meant to provide succour and restore hopes, were distributed to displaced persons in Government College, Maiduguri, Borno State; NYSC Camp, Yola, Adamawa State and Poponari Camp, Damaturu, Yobe State. The relief materials included mattresses, pillows, bed sheets, pillow cases, bathing soaps, disinfectants, cooking pots, kerosine stoves and cartons of noodles.
Other significant interventions of the foundation in the year were the sponsorship of two popular dance dramas – Kakadu and Wakaa, The Musicals. The sponsorships were targeted at promoting and enhancing creativity in the Nigerian performative guild. The energy, creativity and the world class quality of the performances over a 5-day period generated rave reviews and a national buzz towards the end of the year.
Finally, as part of its continuous efforts at creating awareness on the importance of early detection of breast cancer among women, the foundation also sponsored series of events across Nigerian cities in 2015 ranging from ‘Awareness Walks’ to polo tournaments.
MTN Project Fame 2015:
One of the enduring and most impactful ways through which MTN has been transforming the lives and empowering West African youths is the MTN Project Fame West Africa. For the past eight years, MTN Project Fame has been taking young talents off the streets and leading them to fame, stardom and economic empowerment. Many of them have moved on to establish profitable businesses and create jobs and employment for others. Some of the most commercially successful musicians in Nigeria today are alumni of the Project Fame Academy. The 2015 edition saw an 18-year-old Jeffrey Akoh winning the music empowerment competition, smiling home with a N5 million cash prize, one-year recording contract and a SUV.
MTN Best 11 Trutalk Win A Home Promo:
This promo generated a lot of buzz and excitement for MTN in 2015. The promo which was tied to the number ‘11’ afforded 11 customers on its network to address a human need- Shelter and own three bedroom houses worth N15m each (or cash equivalent). The houses were showcased by Lamudi Nigeria, through its vast array of developers. Also, every day, 24 people won N11,000 cash every hour.
MTN Tech+:
The MTN Tech+ congregated an ecosystem that promoted cutting-edge technologies through education, enterprise and innovation in the African Market through exhibition. As a major partner for the event, MTN used it as a platform to showcase its ICT credentials through high-tech demos and workshops. It also used the intervention to launch an innovative payment system called ‘MTN Token.’ This is a mobile phone service offering a single means of authentication for online services with high and comforting levels of assurance.
MTN Music+ Anniversary:
The MTN Music+ anniversary was an innovative engagement platform called ‘Noiseless party’ put together to celebrate artistes and music lovers, while celebrating its success story since the past 18 months. This was the first of its kind in Nigeria and the event created a very high ‘talkability’ on blog sites and social media platforms.
Sponsorship of Christian and Muslim Customers:
MTN Nigeria made huge impact in the lives of some of its Christian subscribers as it sponsored over 20 customers on an all-expenses paid trip to Jerusalem for the year’s pilgrimage. The Muslim customers were not left out. 20 of its Muslim customers were also sponsored on an all-expenses paid trip to Mecca to fulfil some of their religious Hajj obligations. MTN has been sponsoring its Muslim and Christian customers to pilgrimages since 2008.
MTN Prestige Launch:
Another initiative that put MTN in the spotlight was the launch of ‘MTN Prestige.’ The company celebrated its High Value (HV) customers, 100 CEOs and captains of industry. They were treated to a night of alternative music at a prestigious musical event tagged ‘MTN Prestige’. The high point of this event was the launch of MTN Prestige, a loyalty and reward programme for its HV customers. They will enjoy a broad range of cost optimization, lifestyle and business benefits among others.
MTN Golf:
For many years, MTN has sponsored the annual World Golfers Championship (WGC) and other golfing competitions. The tournaments have proven to be viable and reliable platforms for customer engagement and interactivity and equally reinforced its role as an enabler of socio-economic development across several fronts in Nigeria. Golfers and enthusiasts of the sport were treated to an impressive and exciting tournament in 2015.
MTN Polo:
The MTN Polo 2015 was another talking point for the telecoms leader. The event converged lovers of polo. MTN’s involvement in the promotion of Polo and other sports in the country made the Nigerian Polo Federation (NPF) President, Francis Ogboro, to shower encomiums on MTN. Through its charity gesture, the MTN UNICEF Charity Shield international polo tournament made a N5 million donation to UNICEF with respect to its campaign against HIV/AIDS pandemic among Nigerian children.
NCC fine on MTN:
The imposed N1.04 trillion ($5.2 billion) fine on MTN by the Nigerian Communications Commission over its failure to disconnect SIM cards with incomplete registration was another talking point in the country. The company which has been the industry leader was sanctioned for failing to disconnect 5.1 million lines from its network. Meanwhile, MTN filed a suit at the Federal High Court, Lagos, challenging the fine.
By BizWatch Nigeria
Key Points
Market capitalisation rises by N2.1 trillion
All-Share Index climbs 1.48% to 222,837.68
BUA Foods, Dangote Cement, Zenith Bank lead gains
Market breadth closes negative...
