Brentford has signed Nigerian under-20 defender Benjamin Fredrick on loan from Simoiben FC Kaduna until the conclusion of the 2023/24 season.
The deal is subject to international clearance, according to the Premier League club, and there is also the possibility to make the signing permanent.
According to the club, the center defender will play for Neil MacFarlane’s B squad this season. Benjamin played for Nigeria at the Under-20 World Cup earlier this summer, when they advanced to the quarterfinals before losing 1-0 to South Korea.
Benjamin Fredrick has been a regular for the Flying Eagles in recent months, having played 11 times at U20 level since debuting at the age of 17.
In addition to four appearances in this year’s U20 World Cup, he also appeared six times as Nigeria finished third in the U20 Africa Cup of Nations earlier this year.
In recent seasons, the 18-year-old defender, Benjamin Fredrick has also had loan spells with other Nigerian clubs such as ABS FC and Nasawara United, and he now moves to west London to continue his development under the B-team coaching staff.
Brentford B head coach Neil MacFarlane said of Benjamin’s arrival, “Benjamin is a player who has been identified by our recruitment department and he’s a real prospect having impressed for Nigeria in recent tournaments.
“He’s a very tenacious player who likes to defend on the front foot. He’s somebody we will look to develop through our games programme, and we’ll see how his development progresses over the course of his loan. We look forward to welcoming Benjamin to the club.”
In a crescendo of pulsating beats, electrifying energy, and an unwavering spirit of unity in the air, the fourth edition of the Interswitch One Africa Music Fest concluded in grand style. This annual extravaganza, hosted by Quickteller, leading consumer digital payments platform powered by Interswitch; celebrates the heart and soul of African music and culture.
The festival has become a hallowed celebration for thousands of ardent music lovers and cultural enthusiasts from across the globe. This year’s event reinforced the festival’s enduring impact, spotlighting a star-studded lineup that spanned generations and genres.
The stage came alive with the pulsating rhythms and mesmerizing performances of afrobeats legends such as Wande Coal, 2Baba, 9ice, Duncan Mighty, and Omawunmi. Their soul-stirring renditions of chart-toppers and classics had the audience moving in rhythmic unison.
Yet the euphoria didn’t stop there, amidst these legends the event also shone a spotlight on some of the freshest voices in the industry. Electrifying acts like Crayon, Skales, Moh’bad, Nqobile, Not3s, Young Jonn, and more took the stage by storm, captivating the audience with their innovation and youthful energy.
This seamless blend of artists across generations created an unforgettable musical experience that showcased the rich diversity of African talent.
Beyond the exhilarating performances, the Interswitch One Africa Music Fest holds a deeper significance for African music. It isn’t just an event, it’s a movement that celebrates the heart and soul of African music and culture.
Interswitch, through its Quickteller platform, remains dedicated to nurturing and supporting African creativity through enabling platforms like the One Africa Music Fest, to pave the way for artistes to showcase their brilliance on a global stage.
As the final notes of this year’s festival resounded, the celebration seamlessly transitioned into an exclusive, star-studded after-party. The curtain fell on the festival, but the energy persisted. Attendees had a chance to take a step back and process the whirlwind of performances, collaborations, and cultural exchanges that took place throughout the event. This was a time to savor the memories, bask in the afterglow of the performances, and celebrate the success of yet another awe-inspiring festival.
With the amazing conclusion of this year’s edition, anticipation swells for the next chapter—an edition poised to deliver even more groundbreaking performances, more indelible memories, and more heart-pounding moments. Until then, the echoes of this year’s festival will resonate in the hearts of music lovers and culture enthusiasts all over the world.
Energy Capital & Power (ECP) is proud to announce that Oliver Onyekweli, Partner and Leader for West Africa Oil and Gas at Mckinsey & Company, has joined the Angola Oil & Gas (AOG) 2023 conference as a speaker.
As a renowned oil and gas specialist with years of experience in Africa, Onyekweli’s participation at the event is set to advance dialogue around regional collaboration and energy security. The event makes its return to Luanda from September 13-14.
McKinsey & Company is a global management firm that offers professional services to corporations and governments. Partnering with clients, McKinsey & Company works to bolster innovation and build the workforce of the future. In Angola, the company has played an instrumental role in modernizing the economy, providing support to government in infrastructure expansion and institutional reform while helping both global and Angolan companies advance their contribution in the economy. The company has been active in Angola for ten years and has completed over 110 projects.
As Partner and Lead for West Africa Oil and Gas, Onyekweli is tasked with supporting development across the region’s hydrocarbon industry, engaging with stakeholders and industry leaders under efforts to stimulate economic growth. During the AOG 2023 conference, Onyekweli will spearhead discussions around how African nations can optimize their existing resource bases, invest in lower-carbon infrastructure like gas pipelines and renewable energy, and attract funding and skills for sustainable energy projects. At a time when African countries such as Angola are accelerating efforts to develop their oil and gas resources sustainably, insights from Onyekweli prove valuable.
“The AOG 2023 conference addresses the most pressing challenge facing Angola’s energy sector today: how can the country transition to a cleaner energy future while maximizing oil and gas for regional security? The event’s theme of ‘Energy Security, Decarbonization and Sustainable Development’ underscores the vital need to implement a just energy transition, and the conference serves as a strategic platform to chart the way forward, stated Devi Paulsen-Abbott, CEO of AOG event-organizer ECP.
Taking place under the theme ‘Energy Security, Decarbonization and Sustainable Development’, AOG 2023 unites Angola’s regulatory authorities and key energy stakeholders with global investors to discuss challenges and opportunities across the Angolan energy market.
For more information, visit www.AngolaOilAndGas.com.
LC Financial Holdings (LCFH) proudly announces the successful completion of the acquisition of BCM Global (BCM), marking the next step in its evolution as a technology-led credit specialist. This landmark acquisition cements LCFH’s stronghold in the management of consumer and SME loans, leases and mortgages across Europe.
Established in 1998, LC Financial Holdings comprises LCM Partners, one of Europe’s leading alternative credit investment managers, the Link Financial Group servicing companies and LDMS, a technology provider focusing on the credit management sector. The integration of BCM as the fourth pillar of the LCFH Group reinforces the company’s commitment to innovation and excellence in serving its originator clients and investors.
BCM’s operations, spanning sites in Ireland, the UK, Italy and the Netherlands, are to become an integral part of the LCFH family. BCM’s core business lines encompass commercial and residential mortgage origination and management services, outsourcing of banking administration activities and structured finance administration. As a prominent European independent mortgage, real estate and commercial loan servicer, BCM will receive substantial support from LCFH to expand its existing business lines as well as develop new services across Europe.
“Our strategic collaboration is expected to generate an expanded product portfolio, further operational efficiencies and even better client service for BCM in the years ahead. The combined strength of the LCFH Group, united with BCM, will be manging assets of over €100 billion covering almost 7 million customers, serving 110 financial institutions across 10 jurisdictions with almost 2,000 dedicated professionals. We truly believe that this combination has huge benefits, most of all for the customers and organisations we serve.” said Paul Burdell, CEO LCFH.
Antoinette Dunne, CEO of BCM, “Being a part of the LCFH Group ushers in a new era of growth and innovation for BCM. The partnership with LCFH brings a fresh perspective, a renewed emphasis on technological advancements and valuable support for both expanding current activities and venturing into new territories. Joining LCFH will redefine BCM’s business strategy, benefiting employees and forging new alliances while further improving the experiences of our existing client base.”
Nigerian private sector business activity dipped into contraction midway through the third quarter of the year as severe and strengthening price pressures acted to diminish demand.
Both overall input costs and output charges increased to the largest extent since the survey began almost a decade ago. Inflation again reflected higher transportation costs as a result of the removal of the fuel subsidy, plus currency weakness. Rising transportation costs also caused supplier delivery delays.
Meanwhile, rates of expansion in both new orders and employment eased and were only marginal.
The headline figure derived from the survey is the Purchasing Managers’ Index™ (PMI®). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
The headline PMI dropped for the third month running to 50.2 in August, from 51.7 in July, and was the lowest in the current five-month sequence of improving business conditions. The index signalled only a marginal monthly strengthening of the health of the private sector.
Marked inflationary pressures remained a key hindrance to businesses in August. Overall input costs increased to the greatest extent since the survey began in January 2014 as close to three-fifths of respondents posted a rise over the month.
Rates of increase in both purchase prices and staff costs accelerated, the latter hitting a new survey peak. Higher transportation costs were central to rising prices, while there were also reports of currency weakness adding to inflationary pressures.
In turn, companies also increased their selling prices at a record pace, with the rate of inflation surpassing the previous peak from December 2021.
Steep price rises presented a challenge for firms to secure new orders. August saw only a marginal increase in new business, with the rate of expansion the softest in the current five-month sequence of growth. Similarly, employment also rose only marginally.
Meanwhile, business activity decreased slightly midway through the third quarter, ending a four-month period of expansion. Sector data pointed to a drop in activity in wholesale & retail and no change in services. Meanwhile, agriculture and manufacturing continued to see output increase.
Companies continued to expand their purchasing activity, with stocks of inputs rising accordingly. There were some difficulties in the receipt of inputs caused by high transportation costs. As a result, suppliers’ delivery times shortened only fractionally in August, following a period of marked improvements in recent months.
Business sentiment picked up from the previous survey period’s record low, but was still historically weak. Those panellists predicting a rise in output over the year ahead often linked this to business expansion plans and advertising activity.
The MTN Foundation in partnership with Enterprise Development Centre (EDC) and the Mastercard Foundation, has announced the training of 20,000 female entrepreneurs on sustainable business development.
The announcement was made on Tuesday, 15 August 2023, at a media event hosted by the MTN Foundation, at the MTN Nigeria Head Office, Falomo, Ikoyi.
The 20,000 female entrepreneurs were selected from the 42,000 applicants who registered for the MTN Foundation Y’ellopreneur initiative in August 2022. The training is focused on equipping women with the right skills for business expansion skills.
Speaking on this, the Executive Secretary, MTN Foundation, Odunayo Sanya said “We discovered a gap with women being able to manage and own businesses. It dawned on us that a capacity building programme could help bridge this, hence the launch of the Y’ellopreneur initiative.”
“During the first phase of the initiative, while training the selected 500 Y’ellopreneurs, a few of them asked if it was possible to open the training for other women, as they were seeing changes in their businesses even though they had not finished the training. We commenced conversations with EDC and now have both EDC and Mastercard on board to train 20,000 women. This for us, is fulfilling a pledge that we made when we unveiled the Y’ellopreneur initiative.”
Director, Enterprise Development Centre & Program Director, Mastercard Foundation, Nneka Okekearu, highlighted that Mastercard Foundation is strongly committed to partnering with organisations to achieve its 2030 goal of equipping young people.
“At Mastercard Foundation, there is a continent-wide strategy that by 2030, 30 million young people across Africa will have access to dignified and fulfilling jobs. This is an initiative across seven countries including Nigeria.
“We are hoping to have between eight to ten million Nigerians within a five-year period in Nigeria. We know we cannot do this alone hence our partnership with MTN Foundation. Without partnerships, we cannot achieve much.”
Also speaking on the training, Consultant, Enterprise Development Centre, Morounfayo Williams said “The EDC is known for gender-specific programmes to help bridge the knowledge and confidence gap among female entrepreneurs.
“We have success stories of entrepreneurs who have passed through EDC’s training like Ayodeji Megbope who took moi-moi to The White House, among others. EDC will continue to be that knowledge partner who can bring on board business development service professionals from all over the country. We handhold these women to overcome gender biases and other challenges women tend to face.”
The four-week capacity-building initiative is a strategic effort to reduce female unemployment in Nigeria, transform growing small businesses owned by Nigerian women, and achieve Sustainable Development Goal 8 – decent work and economic growth.
Nigeria’s President Bola Tinubu military involvement in the Niger Republic will not be contemplated until all diplomatic options have been exhausted.
Tinubu made the remarks when receiving the leadership of the Nigerian Supreme Council for Islamic Affairs (NSCIA) at the State House on Thursday, according to a statement released by Ajuri Ngelale, the president’s special assistant on media and publicity.
Tinubu commended the NSCIA delegation, led by Sultan of Sokoto Muhammad Abubakar, for its efforts in spearheading negotiations with Niger’s military junta.
He stated that the forcible displacement of the country’s democratic administration is “completely unacceptable.”
Tinubu who is also the chairman of the Economic Community of West African States (ECOWAS), stated that military action is not out of the question, but that it would be preferable to avoid the situation.
“I must thank you for your several visits to Niger Republic, Your Eminence, but you will still have to go back,” the statement quoted the president as saying.
“My fear has been confirmed in Gabon that copycats will start doing the same thing until it is stopped. We are neighbours with Niger Republic, and what has joined Nigerians together with their great people cannot be broken.
“Nobody is interested in a war. We have seen the devastation in Ukraine and Sudan. But, if we don’t wield the big stick, we will all suffer the consequences together.”
Tinubu added that Nigeria, under former President Abdulsalami Abubakar, established a nine-month transition program in 1998 that was effective and ushered the country into a new age of democratic governance.
“Your Eminence, please don’t get tired, you will still go back there. The soldiers’ action is unacceptable. The earlier they make positive adjustments, the quicker we will dial back the sanctions to alleviate the sufferings we are seeing in Niger,” the statement reads.
Beginning October 1, 2023, all international airlines servicing Murtala Mohammed International Airport in Lagos are expected to migrate from the old international terminal building, which will be closed for repairs, to the new terminal building.
The Minister of Aviation, Festus Keyamo, announced this on Thursday during a tour of the Lagos airport’s aviation facilities.
Keyamo also stated his intention to improve the aviation industry.
According to him, all plans made by his predecessor, Hadi Sirika, including the proposed Nigeria Air, have been put on hold to allow for proper contract auditing.
The minister, who also took a bus ride to inspect the airport’s perimeter fence, emphasized that aviation safety is his top priority.
Girma Wake, a seasoned aviator, resigned as Chairman of Ethiopian Airlines in June, amid controversy over the launch of Nigeria’s state airline, Nigeria Air.
BizWatch Nigeria recalls that Captain Dapo Olumide, Interim Managing Director of Nigeria Air, stated that the aircraft used to unveil the country’s national career was a legitimate chartered flight from Ethiopian Airlines, and that the aircraft was returned to Ethiopian Airlines following the unveiling on the last day of the Muhammadu Buhari administration in May.
Nigeria’s Senate and House of Representatives Aviation Committees both called the launch of Nigeria Air a sham.
Nigeria Govt Spent N13.7bn on Pipeline Repair This Year
The shortage of Premium Motor Spirit, sometimes known as fuel, in sections of Lagos and the South-Western states may last until the end of September, and it may extend to other areas if not solved urgently.
It was learned on Thursday that the scenario might last till the end of the month since the System 2B pipeline in front of Good Luck Estate in Idimu, Alimosho Local Council Development Area of Lagos, will be ready for usage by the end of September. Oil marketers blamed the current gasoline lines in several sections of Lagos and certain states in the South-West on the disruptive actions of vandals.
They explained that the shutdown of the System 2B pipeline, which supplies large volumes of products to the region, had impacted negatively in the flow of PMS in Lagos and neighbouring states. “
From our end, the issue has been with the pipeline vandalism which we raised an alarm over since July. Satellite depot has not loaded any product in the last three weeks, and whenever there is a problem here, it is going to affect Lagos and the whole of South-West,” the Chairman, Independent Petroleum Marketers Association of Nigeria, Satellite Depot, Akin Akinrinade. Akinrinade had further explained, “Although I don’t know what has been happening in other depots, from what we gathered yesterday, even NNPC Retail has been operating skeletal product dispatching.
The NNPC Retail loaded just three to four trucks to Ikoyi on Monday. No product was dispatched to other places. I don’t know about other depots.” Garba-Deen Muhammad, Chief Corporate Communications Officer of Nigerian National Petroleum Company Limited, announced on Thursday that the vandalized pipeline was being repaired.
He claimed that the facility will be completed by the end of September, implying that the supply disruptions caused by the pipeline stoppage might last until the end of the month. The NNPCL representative acknowledged that there were problems with the pipeline, but said, “the company is in the process of restoring it, and we are hoping that it will be okay by the end of September.”
“Right now its being worked on and hopefully it should be back and restored for proper use by the end of September. So that is the position right now, by the end of September the pipeline should be back on stream.”
On Thursday, equity investors’ wealth increased by N60 billion as late-night buying activity in Seplat Energy Plc offset midday selloffs on the Nigerian stock exchange. During the intraday session, the Nigerian Exchange (NGX) had a negative performance.
The performance indicators of the Nigerian Exchange (NGX) increased as alpha hunters continued to take positions in the local exchange. The Lagos Stock Exchange’s All-Share Index (NGXASI) rose by 16 basis points on Thursday to end at 66,548.99.
Stockbrokers said that top market movers on Thursday were SEPLAT (+9.95%), STANBIC (+3.67%), and GTCO (+1.10%). CardinalStone informed investors that these increases more than compensated for price reductions in DANGSUGAR (-5.66%), TRANSCOHOT (-4.33%), NASCON (-9.81%), and TRANSCORP (-3.80%).
“We believe the selloffs in DANGSUGAR and NASCON may likely be linked to the companies’ updated disclosures on the intended merger. Market breadth was positive as 30 gainers outstripped 19 losers”, CardinalStone said.
The total volume traded decreased by 2.5% to 620.98 million units, valued at N7.18 billion, and exchanged in 7,972 deals. STERLINGNG was the most traded stock by volume at 170 million units, accounting for 25.93%.
Trading results from the local bourse indicated that DANGSUGAR topped the value at N160 billion, accounting for 22.29% of market value.
As measured by market breadth, market sentiment was positive (1.6x), as 31 tickers gained relative to 19 losers. NGXGROUP (+10.0%) and SEPLAT (+10.0%) topped the gainers’ list, while MULTIVERSE (-10.0%) and NASCON (-9.8%) recorded the highest losses of the day.
On sectorial movements, the Oil and Gas (+5.42%) and Banking (+0.33%) sectors closed higher on the price gains in SEPLAT (+9.95%) and STANBIC (+3.67%), respectively. Flour Mills of Nigeria Posts N9.34bn Loss
On the flip side, the Consumer Goods (-1.14%), Insurance (-0.38%), and Industrial Goods (-0.01%) sectors closed in the red due to selloffs in DANGSUGAR (-5.66%), MANSARD (-5.19%), and WAPCO (-0.17%), respectively.
Overall, the equities market inched higher by N59.9 billion to N36.4 trillion amidst the expectation that the local bourse would continue to rise. Equities investors’ wealth rose by N60bn on Thursday as late hour buying interest in Seplat Energy Plc upturned intraday selloffs in the domestic bourse. The Nigerian Exchange (NGX) recorded a negative performance during the intraday session.
The Nigerian Exchange (NGX) performance indicators spiked as alpha seekers continued to take positions in the local bourse. Data from the Lagos bourse showed that the All-share index (NGXASI) appreciated by 16 basis points on Thursday to close at 66,548.99.
Driving the uptick, stockbrokers said major market movers on Thursday were SEPLAT (+9.95%), STANBIC (+3.67%) and GTCO (+1.10%). CardinalStone told investors that these gains offset price declines reported in DANGSUGAR (-5.66%), TRANSCOHOT (-4.33%), NASCON (-9.81%) and TRANSCORP (-3.80%).
“We believe the selloffs in DANGSUGAR and NASCON may likely be linked to the companies’ updated disclosures on the intended merger. Market breadth was positive as 30 gainers outstripped 19 losers”, CardinalStone said.
The total volume traded decreased by 2.5% to 620.98 million units, valued at N7.18 billion, and exchanged in 7,972 deals. STERLINGNG was the most traded stock by volume at 170 million units, accounting for 25.93%.
Trading results from the local bourse indicated that DANGSUGAR topped the value at N160 billion, accounting for 22.29% of market value.
As measured by market breadth, market sentiment was positive (1.6x), as 31 tickers gained relative to 19 losers. NGXGROUP (+10.0%) and SEPLAT (+10.0%) topped the gainers’ list, while MULTIVERSE (-10.0%) and NASCON (-9.8%) recorded the highest losses of the day.
On sectorial movements, the Oil and Gas (+5.42%) and Banking (+0.33%) sectors closed higher on the price gains in SEPLAT (+9.95%) and STANBIC (+3.67%), respectively. Flour Mills of Nigeria Posts N9.34bn Loss
On the flip side, the Consumer Goods (-1.14%), Insurance (-0.38%), and Industrial Goods (-0.01%) sectors closed in the red due to selloffs in DANGSUGAR (-5.66%), MANSARD (-5.19%), and WAPCO (-0.17%), respectively.
Overall, the equities market inched higher by N59.9 billion to N36.4 trillion amidst the expectation that the local bourse would continue to rise.
Despite a minor influx of foreign currency (FCY) into external reserves, the Nigerian naira gave up the struggle to recoup losses experienced against the dominating US dollar across the foreign exchange markets.
Nigeria got a $331 million inflow, increasing its total position to $33.954 billion, according to records of foreign currency transactions. The Central Bank of Nigeria (CBN) has officially launched its pricing verification webpage for foreign exchange (FX) consumers to register.
The gateway, according to local deposit money institutions, would be required for foreign currency processing and sales to consumers who fulfill mandated conditions, such as tax clearance certificates.
The Naira has declined more against the US dollar, according to traders, with the exchange rate falling to N762.71 from N738.18 at the investors and exporters FX window.
As currency speculators consolidate their positions despite a widening spread between official and open market prices, FX consumers diverted forex demand to the parallel market, leading the local currency to decline more.
The currency rate fell by 0.54% to N925 on the parallel market. Due to poor earnings from crude oil exports, the Nigerian naira is under immense pressure as a result of currency scarcity in the face of increased demand.
Crude oil prices jumped on Thursday in the worldwide market, with Brent crude rising 1.17% to $86.24 per barrel and West Texas Instruments (WTI) crude rising 1.60% to $82.94 per barrel.
The increases were driven by a stronger demand expectation following a massive crude inventory decrease of 10.6 million barrels in the United States, exceeding a total of 3.3 million barrels. Additionally, there are growing expectations that OPEC and its allies will agree to extend their production cuts.
Nigeria’s sovereign dollar bonds fell by as much as 2.4 cents on Thursday, Tradeweb data showed, as markets reacted to reports that a $3 billion loan to state oil company NNPC was in limbo. The 2038 maturity fell by the most, losing 2.4 cents, but its other U.S. dollar bonds also slid by more than 2 cents, Tradeweb data showed.
As a consequence of asset and fund management sell downs in the secondary market, the average yield on Federal Government of Nigeria (FGN) bonds instrument landed at 14.1% midweek. Despite a double-digit high interest rate environment, investors in the fixed interest market are now earning less than the yearly inflation rate of 24.08%.
While investors regard the development as a type of financial repression that permits the government to borrow at lower interest rates from the organized market, the risk-free investment does not command a premium.
The absence of other investment choices has aided the market’s survival, which has been aided by government law requiring pension fund administrators to invest a major portion of pension assets in local borrowing instruments.
Investors in the local bond market continue to seek yield repricing in order to decrease their exposure to increasing inflation, but ample liquidity in the financial system has pushed demand higher, allowing debt agencies to lower borrowing costs.
Cowry Asset Managers said yesterday in its market update that the Nigeria Interbank Offer Rate (NIBOR) has fallen across the board for all maturities monitored.
Asset managers ascribed the change to an increase in liquidity. As activity in the Central Bank of Nigeria’s (CBN) standing lending facility (SLF) slowed, cash-rich local deposit money banks with liquidity requests accepted lower rates.
Notably, the six-month NIBOR rate decreased by 204 basis points, reaching 10.52%, according to Cowry Asset while other money market short-term benchmark rates declined.
Data from FMDQ showed that the open repo rate (OPR) and the overnight lending rate (OVN) closed in a mixed bag. Overnight crashed by 10 basis points to 3.00% while OPR advanced 8 basis points to 2.5%.
Also, the average secondary market yield on Treasury bills was bullish. Due to buying momentum in the market, the average yield declined 2 basis points to close at 7.27%. On the other hand, the bond market ended on a bearish note.
The selloffs on government bonds pushed the average yield advanced by 6 basis points to 14.1%. Across the benchmark curve, Cordros Capital told investors via email that the average yield expanded at the short (+24bps) end following the sell-off of the MAR-2025 (+113bps) bond.
Elsewhere, the average yield closed flat at the mid and long segments. Selling pressure was seen across mid- and long-dated securities, particularly in the 23-FEB 2028 bond, which led to an expansion in the yield. Bonds Yield Rises 20bps Amidst Mixed Expectations
Cowry Asset said 10-year and 30-year borrowing costs stayed flat from the last close of 14.26% and 15.40%, while the 20-year paper also held steady at 15.19%.
Elsewhere, FGN Eurobonds were largely bearish for most maturities tracked, as the average secondary market yield closed higher at 11.02%. Looking ahead, fixed interest securities traders said the current macroeconomic headwinds and stubbornly high inflation rate could prompt investors to bid for higher rates as incentives.
The Federal Government (FG) claimed that it is committed to protecting digital platforms and safeguarding citizens’ trust while online.
On Thursday, Bosun Tijani, Minister of Communications, Innovation, and Digital Economy, addressed at a two-day sensitization program on data privacy and protection in Abuja.
The Nigeria Data Protection Commission (NDPC) organized the workshop to educate the public about the requirements of the Nigeria Data Protection Act (NDPA).
Tijani stated that in order to advance the country digitally, it is critical to create a system centered on data privacy and protection regulation.
“Data privacy is not just a matter of convenience. It is a fundamental human right and we should care about the data we generate and what it is being used for,” the minister said.
“As we embrace the digital age, it is crucial that personal and sensitive information of our citizens is maintained under the eyes of confidentiality.
“We are committed as a government to ensuring that every Nigerian can trust the digital platforms that he uses, knowing that his personal data will not be misused.
“We are taking proactive steps to strengthen our data protection framework as evident in the setting up of NDPC.
“We are working with stakeholders including the national assembly to enact robust data protection laws that are aligned with international standards.
“We will also normalise the culture of transparency among our citizens so that everyone is fully aware of how his data is used.”
The minister stated that the government will work with all stakeholders to ensure that Nigerians understand their rights and how to secure their digital identities.
Tijani stated that data protection is not solely the government’s job, adding that “every individual should ensure people understand the value of their data and how they can protect themselves.”
He asked data protection officers (DPOs) and ministries, departments, and agencies (MDAs) to secure and safeguard data.
“We must be responsible for this as we are the faces citizens interact with, it is important that we model what we want to see in the society,” he said.
“The digital economy is an era of growth and innovation that requires that we nurture it.”
The federal government intends to restructure the nation’s steel sector in order to boost the economy and provide job opportunities. The Minister of Steel Development, Prince Shuabi Audu, stated this in Abuja while meeting with the heads of the ministry’s agencies and divisions.
According to Audu, Nigeria’s enormous natural resources hold the key to altering the country’s economic landscape and spreading democracy’s advantages to all Nigerians.
“By tapping into the latent potential of the steel sector and channelling it into lucrative ventures, we can ensure that the dividends of democracy reach every citizen.
“The steel sector stands as a pivotal pillar of Nigeria’s industrial growth, carrying the potential to provide substantial job opportunities for the youth.
“To realise this vision, the government is fully dedicated to implementing an extensive array of measures designed to attract reputable international investors,” he said.
Audu said that every Nigerian deserves to partake in the benefits that democracy brings, adding that a core tenet of democracy was its ability to uplift individual needs and aspirations. According to him, the government is steadfastly focused on cultivating an environment conducive to ensuring these advantages.
“In the pursuit of attracting investments, the Federal Government remains resolute in its mission to boost economic growth and empower its citizens through the potential of the steel sector.
“This is by fostering strategic alliances, facilitating investment inflow and cultivating a business-friendly atmosphere, the government envisions a future marked by prosperity, progress, and collective advancement,” he said.
The minister said that Nigeria was ready to take a leading role in the global steel market, adding that the transformative journey was poised to reshape the nation’s economic trajectory.
“This is to ensure that the benefits of democracy are tangible and accessible to all”.
President Bola Tinubu said on Thursday that the Niger military junta has nine months to restore civilian governance after seizing power from President Mohamed Bazoum on July 26, 2023.
Tinubu made the remarks in the State House at a meeting with the Nigeria Supreme Council of Islamic Affairs, which was led by the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III.
Tinubu, who is also the Chairman of the Economic Community of West African States (ECOWAS), stated that if Nigeria was able to effectively return to democracy in 1999 thanks to General Abdulsalami Abubakar’s nine-month program, there was no reason why Niger coup leaders couldn’t do the same.
According to his spokesperson, Ajuri Ngelale, the ECOWAS chief stated that sanctions imposed on Niger Republic will not be lifted unless the military junta makes “positive adjustments.”
Since the coup in Niger, ECOWAS has put a series of sanctions on the country, threatening military intervention if diplomacy fails to restore civilian government.
The Niger junta has stated that a three-year transition time is required to restore constitutional order in the country, which ECOWAS has rejected.
With the coup in Gabon on Wednesday, Tinubu said his fears that other nations will follow Niger’s example were verified.
“I must thank you for your several visits to Niger Republic, Your Eminence, but you will still have to go back. My fear has been confirmed in Gabon that copy cats will start doing the same thing until it is stopped.
“We are neighbours with Niger Republic, and what has joined Nigerians together with their great people cannot be broken. Nobody is interested in a war.
“We have seen the devastation in Ukraine and Sudan. But, if we don’t wield the big stick, we will all suffer the consequences together,” the President warned.
Buckwyld Media Network and BHM, organisers of ‘Naija To The World’, have announced additional dates and locations for the historic entertainment and culture showcase.
The maiden concert – ‘The Niger Delta Experience’ originally scheduled to hold on September 16, 2023, at the iconic Apollo Theatre in New York City is now being moved forward, to accommodate new programming, additional talents, multiple cities and venue partners.
Buckwyld Media CEO, Efe Omorogbe says the entire project will now take on a dynamic new format, following overwhelming interest from across Nigeria, and influential cultural entities around the world.
‘We are humbled by the overwhelming interest in N2TW, and have taken the decision to expand the project, involve more partners, talents and add new cities in order to make sure we deliver a showcase Nigerians will be really proud of’.
‘Our vision is to make ‘Naija to the World’ a cultural phenomenon that transcends borders’, Omorogbe adds.
“We want to provide an inaugural event that not only celebrates the incredible talents emerging from the Niger Delta but also captures the essence of its unique stories and heritage. We’re looking to introduce more dates and a new format for the concert and by doing so, we aim to deliver a truly immersive cultural experience.”
Conceptualised by Buckwyld Media Networks and BHM, ‘Naija To The World’ is designed to provide an alternative narrative to the stories out there about Nigeria and Nigerians; and to provide a platform for other aspects of the Nigerian lore, culture, and experiences to travel and thrive, as Nigerian music and film continue to go mainstream.
The project is expected to put names, faces, and links to some of the biggest art to emerge from Nigeria over the past 100 years; with confirmed talents already including singers Timi Dakolo, Omawumi, Timaya, KCee and pantomimic dance group Seki Dance Drama.
A full schedule of programmes, talents, partners, cities and venues will be announced in New York on September 16.
Over 1,500 lucky fans will witness this historic series of showcases live per venue, while an additional 10 million viewers worldwide will tune in through broadcast partners spanning North America, Europe, Asia, and Africa.
APO Group the leading pan-African communications consultancy and press release distribution service, is proud to announce the selection of VP of Digital, PR, and Media Relations, Lynne Krawchuk has been selected as a judge for the prestigious Drum Awards for Public Relations. This is the second consecutive year Lynne has been selected for this honour.
The Drum Awards for Public Relations celebrate the best PR campaigns, rewarding the professionals overseeing the communications of companies, governments, and organisations.
The Drum Awards attracts thousands of entries from some of the biggest companies and brands in the world. Entrants last year came from the Americas, Asia, Africa, Europe, and, for the first time, Australia. Winners from 2022 included campaigns for McDonald’s, BMW, EE, Brewdog, Adidas, L’Oréal, and Marriot.
The Drum Awards for PR recognises and awards the people and brands at the pinnacle of the PR sector, and Lynne will be judging PR entries from some of the world’s biggest agencies and consultancies. Lynne joins members of a diverse group of expert practitioners who are selected to bring a global perspective to the judging process.
With over 20 years of experience, Lynne has had a lengthy and storied career, in which she has assumed influential roles in Digital, Public Relations, and Traditional Agency domains. Her innovative thinking has birthed strategic brand solutions, leaving an indelible mark on the public relations sector.
Krawchuk’s selection as a judge is a testament to the work APO Group does in seamlessly connecting international clients with media channels spanning all 54 countries across the continent. Lynne’s team actively cultivates deep relationships with media and influential partners, while also coordinating impactful campaigns for some of the world’s most distinguished organisations.
“The Drum Awards for PR recognise the creativity and dedication that the pinnacle of our industry produces, and as a proud representative from Africa, I’m thrilled to be a judge for the second consecutive year,” says Lynne Krawchuk, Vice President of Digital, PR, and Media Relations at APO Group. “This opportunity not only allows me to acknowledge the most outstanding campaigns of this year but also to celebrate the remarkable talents that define our industry from agencies across the globe.”
“Lynne’s exceptional abilities in managing imaginative and impactful PR campaigns have been witnessed by many of our clients,” said Nicolas Pompigne-Mognard the Founder and Chairman of APO Group. “In supporting some of the world’s largest corporations to build enduring connections with African media, APO Group showcases Africa’s growing global influence in the field of Public Relations, as demonstrated by Lynne’s inclusion on The Drum’s esteemed panel of judges.”
This year, the announcement of the winners of the prestigious African Conservation Awards will be held at the Southern African Wildlife College on 16 September 2023 and hosted by the Game Rangers Association of Africa.
The Awards will take place after a regional event of the Wildlife Ranger Challenge, a Pan-African initiative which will see ranger teams across the continent compete against each other in a 21km race, carrying 22kgs on their backs! The Southern African Wildlife College is a perfect venue to host both these important events on the ranger calendar.
Each organisation and individual that has been shortlisted has shown remarkable determination to succeed when the odds have often been stacked against them. Conservation areas continue to face many challenges, including limited resources and working against criminal syndicates. Despite this, remarkable people continue to do amazing things for wildlife and the communities who benefit from it.
“The African Conservation Awards showcase extraordinary people doing extraordinary things for nature. It is our privilege to give them the recognition they so richly deserve. Well done to all the nominees who continue to inspire us with their dedicated contribution to conservation. We look forward to celebrating their exemplary efforts!” Andrew Campbell, Chief Executive Officer of the Game Rangers’ Association of Africa.
60 nominations from 11 countries across Africa were received this year. What is also very encouraging to see is the increase in nominations of female rangers which resulted in half of the finalists in the Field Ranger and Game Ranger categories being female. We are also excited to see the different countries across Africa represented among the finalists. Highlighting the quality of nominations this year, we have a “Highly Commended” acknowledgment in each of the four categories. Although these are not finalists, they deserve special mention and must be applauded.
The finalists for this year’s African Conservation Awards, listed in alphabetical order below, are:
Field Ranger:
Givemore Bako, Senior Ranger and Head Rhino Monitor of Anti-Poaching Tracking Specialists, Savé Valley Conservancy, Zimbabwe
Nkateko Letti Mzimba, Sergeant of Black Mambas Unit, Olifants West Nature Reserve, South Africa
Reginah Smith, Corporal of the Rhino Protection Unit, Pilanesberg Game Reserve, South Africa
Game Ranger:
Amos Gwema, Principle Investigation and Security Officer, Zimbabwe Parks and Wildlife Management Authority, Zimbabwe
Orlat Ndlovu, Head of Ranger Services, Timbavati Private Nature Reserve, South Africa
Wildlife Action Group, Thuma Forest Reserve and the Dedza Salima Escarpment Forest Reserve, Malawi
Zinave National Park, Mozambique
Conservation Supporter:
African Pangolin Working Group, South Africa
Joseph Serugo Ssalongo, Honorary Wildlife Officer, Uganda
Rhino Man, South Africa
Highly commended nominations by the judging panel for their excellent work were given to Field Ranger Owenyo Alphonse (Uganda) and Marine Ranger Tima Dago (Kenya); Game Rangers Ali Hassan (Kenya) and Simon Ewoi (Kenya); EWT Soutpansberg Rangers (South Africa) for Conservation Team and Johannesburg Wildlife Veterinary Hospital (South Africa) for Conservation Supporter.
These awards are hosted annually by the Game Rangers’ Association of Africa (GRAA) and are made possible with the generous support of sponsors CNEI. His Serene Highness Prince Albert II of Monaco, who is committed to the protection of endangered species through the support of his Foundation, is the Patron of the African Conservation Awards.
The winners of each category will be announced on 16 September at SAWC where they will be celebrated by their ranger colleagues.
I was forced to bleed into a sanitary pad for more than the advised 8 hours because I simply couldn’t afford to change to a fresh one. I silently suffered the discomfort and humiliation that the red stains on my skirt would cause me. I am not alone.
37 million girls in Nigeria are forced to ration their limited supply of pads EVERY MONTH to make them last longer, thereby putting themselves at great risk of developing deadly infections including UTIs!
The wealthy may not think twice about stuff like this, but average Nigerians like me know how much 1200 Naira means for a young schoolgirl. When you have other expenses like food and education to meet, health always takes a backseat.
I am running an online petition appealing to Always, the global sanitary pad giant, to subsidize products for school girls, starting with Kogi, my hometown. Why Always? On their website, they have stated that they “care about women and girls” and are committed to ending period poverty.
They write, “Despite the ongoing challenges, Always wants to show girls that they’re #SupportedAlways and help #EndPeriodPoverty so that periods don’t hold young people back.”
If Always can donate more than 50 million pads since they started their #EndPeriodPoverty campaign in the US, then why not in Nigeria? If this global brand with its heart in the right place subsidises pads for school girls in Kogi, then every vulnerable girl will feel protected, and her confidence, dignity and education will be boosted.
Menstruation is a biological feature of every woman and no one should suffer health risks because of their sex. With Nigeria ranking 103 out of 121 in the 2022 Global Hunger Index, women in low-income states are the major victims of period poverty.
If this subsidy is not effected, many girls would continue to be exposed to the risk of infections and diseases which would in the long run affect their academics, self-esteem and future.
Join over 400 Nigerians who have signed this petition and lend your voice towards creating a safe space for the girl child in Nigeria.
Terra Academy for the Arts (TAFTA), a leading provider of world-class creative education, career support, and entrepreneurial opportunities, has announced a strategic partnership with FCMB Bank to provide soft loans with flexible terms to support students and businesses in various sectors. Through this, TAFTA continues to establish itself as a prominent institution committed to nurturing artistic talents and educational excellence.
The partnership with FCMB Bank, with the support of Mastercard Foundation, aims to extend financial assistance through soft loans, enabling students and businesses to thrive. It will focus on critical sectors, including agriculture, the digital economy, education, and the creative industry. The loans come with a competitive interest rate of 9 percent per annum, making it one of the most affordable options for emerging entrepreneurs and young professionals.
Mr. Joseph Umoibom, Program Lead, TAFTA, stated that this partnership showcases TAFTA’s commitment to empowering individuals and enterprises in these pivotal sectors. He said, “Creative People often have very profitable ideas, but their greatest obstacle is funding. This easy access to finance will afford our students and alumni the opportunity to launch their creative businesses by funding tangible assets like Editing Suites, Video Camera and other equipment used in creative productions.”
The loans offer an array of benefits including flexible repayment tenure ranging from 1 to 12 months, which can be extended based on individual circumstances. Monthly loan repayments are streamlined allowing for ease of transfer or collection, the application process is simplified with easy documentation, and loan processing is expedited to ensure timely assistance.
Individuals can apply for loans of up to 500,000 Naira, while businesses have the opportunity to access up to 1,000,000 Naira in financial assistance.
The initiative is poised to revitalize, strengthen, and expand both existing and new businesses, contributing to economic recovery and growth. This opportunity is also open to applicants who are not FCMB customers, showcasing the commitment of both institutions to support educational and creative pursuits.
