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Glo Overload promo gets nationwide endorsement

The Overload promotion rolled out by Glo last week is generating a lot of excitement among subscribers across the country.
Glo subscribers who spoke on the offer described the promotion, which offers 200 per cent bonus on airtime recharges and data plans, as a strategic way to start the festive season.
For instance, Chijioke Ameh who called from Plateau State noted: “I am very happy with Glo Overload. I hope it will last longer because the promo has increased my data usage and enabled me to carry out more activities on my phone as I enjoy browsing with it.”
Also reacting, Abraham Jighu, a Lagos-based legal practitioner, stated: “I opted for Overload by dialing *200# and I’ve been enjoying the 200 per cent bonus on my recharges just as Glo promised. It is more appreciated now given the season we are in. I treasure this increased airtime to call my loved ones.”
Another businessman from Gembu in Taraba State, Levi Donald, said he was happy to notice bonus to his call credit when he recharged in the last three days and welcomed the promo. Agnes Ogwuche, a Jalingo-based student, noted that she recharged N200 and got N600. With this, she is now making more calls and using the chance to reach out to people she’s lost touch with.
Onitsha-based Akinyemi Phillips expressed surprise that he was enjoying more call time than he paid for.
Teslim Babalola said: “Wow! Glo is really the people’s network. I bought the N2,000 data plan, I realised that instead of getting 350MB, I received 2.5GB. A friend of mine said he bought the N5,000 data plan and got a whopping 12GB. That is simply awesome.”
Meanwhile, Glo Allawee, another promo released by Globacom recently, has been well received by Nigerians. Feelers from the operator’s Gloworld outlets across the country show a spike in the number of new subscribers who are eager to enjoy the free N18,000 airtime.
Under the promo, new subscribers get a whopping N18,000 worth of free airtime spread over a year at the rate of N50 per day. The only condition is that they have to spend airtime worth N50 or more on any particular day to be entitled to N50 free airtime the following day.

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Okonjo-Iweala puts total banking assets at N24trn

Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, yesterday, disclosed that Nigeria’s total banking assets have grown to over  N24 trillion (about $150 billion).
This, according to her, would not have been possible without the 2005 banking sector reforms. Speaking at the opening of the National Insurance Summit 2014, in Abuja, the Minister said that before the reforms in the banking sector, the largest banks were only a fraction of the size of the top-five banks in South Africa with no Nigerian bank in the top-20 banks in Africa.
“Today, we now have six Nigerian banks among the top-20 in Africa and our banks have now spread across the African continent opening branches from Senegal to Kenya and from London to South Africa. These banking reforms also had major impacts on our economy by driving strong growth in the amount of bank credit provided to the private sector.  In the past 10 years, we have had our banking reforms, which have led to the growth of Nigeria’s banks. We went through an initial phase of banking consolidation and then introduced additional prudential measures following the recent financial crises,”she said.
However, she said the Federal Government is seeking ways to invigorate the insurance sector for the next decade to ensure that it contributes to national economic growth.
“The insurance industry is an important component of the financial system in any country. Insurance helps in mitigating risks and thereby provides utility for individuals and also for corporations. From economics, we know that risk-averse agents facing uncertainty are better off with insurance as it helps them to smoothen their consumption and also improve their planning.
“As Finance Minister, I can tell you that a vibrant insurance industry promotes savings and investments, increases the overall financial assets in an economy and drives development of capital markets. In times of natural disasters (such as floods, hurricanes, droughts), insurance companies also help in providing financing to mitigate the social costs of catastrophes,” the Minister said.
But she regretted that the insurance companies in Nigeria are facing a lot of challenges and these impinge on their performance.
The challenges, she said, include lack of consumer trust, a fragmented industry with some weak and insolvent players, low enforcement of compulsory insurance policies, lack of professionalism by some agents and brokers in the industry, and a general shortage of skilled professionals in the entire industry,” she noted.
According to her, Nigeria’s insurance industry consists of the life insurance segment (about 1/4) and the non-life segments (about 3/4).
“Life insurance covers products such as term life, group life policies and annuities, while the non-life segment covers policies such as motor vehicle insurance, fire, accident, marine insurance and so on. Moreover, we have six classes of insurance, which are designated as compulsory namely, motor vehicle insurance, group life insurance, employers’ liability insurance, buildings under construction insurance, occupiers’ liability insurance and healthcare professionals’ indemnity insurance,” the Minister explained.
In his welcome remarks, the Commissioner for Insurance/Chief Executive, National Insurance Commission (NAICOM), Mr. Fola Daniel, noted the past reforms aimed at  repositioning the insurance industry.
“The first notable initiative for the reform of the insurance industry was the Financial Systems Strategy (code-named FSS 2020) developed in 2007 to position the financial services sector to drive the vision of making Nigeria one of the most 20 developed economies of the world by the year 2020 and the financial centre of choice in Africa,” he said, adding that as at the end of 2013, the gross premium income of the industry only grew to N300 billion from N101 billion in 2007.

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Social media told to simplify terms and conditions

Most people use social media without every properly studying the services' rules

'

Social networking firms including Facebook and Twitter are being told to make it clearer to members how they collect and use their data.

A report by the Commons Science and Technology Select Committee says the firms' terms and conditions are far too long and complex.
The MPs say users may not be aware of how their details can be used by websites and apps.
Any reasonable person would struggle with long privacy policies, they add.
The committee says reading such documents has been likened to "engaging with Shakespeare".
And it says that the rules have been designed for use in US courtrooms and to protect organisations in the event of legal action rather than to convey information.
The Chairman of the Committee, Andrew Miller MP, pointed to an experiment where Facebook had manipulated users' emotions by varying the stories they saw in their newsfeeds.
He said this "highlighted serious concerns about the extent to which ticking the 'terms and conditions' box can be said to constitute informed consent when it comes to the varied ways data is now being used by many websites and apps".
T&Cs updates The report calls on the government to set standards which organisations can sign up to, promising to explain how they use personal data in clear, concise and simple terms.

Facebook recently unveiled updated terms and conditions policies that it claims are simpler and easier to read. It says it has "listened to people who have asked us to better explain how we get and use information".
Meanwhile Twitter has clarified its use of data in a blogpost, which explains that it collects data on the apps which users have on their phones in order to "deliver tailored content that you might be interested in".
This includes promoted tweets from advertisers. Twitter goes on to explain how users can turn off this form of data collection.
Relationship of trust The Science Committee's report also says there is a problem with apps which request information which they do not obviously need, so as to provide their service.
It says companies should have a greater responsibility to explain why they need to collect information.

Facebook was criticised for carrying out experiments on its members despite having data privacy rules

The government does not escape criticism in the report.
The Committee cites the NHS Care data programme, which was delayed after concerns about patient privacy.
This is described as an example of where the relationship of trust between data collector and customer failed to develop.
The report says the government must learn lessons and assess the impact on privacy of policies that collect, retain or process personal data

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Expect lower crude price –Okonjo-Iweala

 

 

The Coordinating Minister for the Economy and Minister for Finance, Mrs. Ngozi Okonjo-Iweala, has told Nigerians to put on their shock absorption regalia to contain worse crude oil pricing in the international market.
She announced this yesterday in Abuja at a seminar of the Securities and Exchange Commission (SEC) after highlighting some factors that led to the present slump that have not actually abated. From her analysis, since the contributing factors to the price drop, which include more discovery of oil in some countries, over production of crude by member countries and less dependence on oil by the bigger economies still prevail, an opposite trend to the drop would hardly be expected soon.
But she, however, gave Nigerians reasons not to panic about the situation as she assured that every economic palliative measure so far taken and the ones anticipated are targeted at ensuring that the shock on the common man is assuaged.

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Nokia N1 Android tablet causes a surprise

The Nokia N1 features a customised version of Android developed by the Finnish firm

Nokia is launching an Android-powered tablet, marking the Finnish company's return to consumer electronics.

The surprise launch pits the firm against Microsoft, which completed its takeover of Nokia's previous mobile-devices business in April.
The N1 tablet is due to go on sale in China towards the start of 2015, ahead of other countries.
Nokia said it was not making the device itself, but had licensed its brand, design and software to a third-party.

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Etisalat Hits 20 Million Subscriber Base, Records 18% Growth

By Emma Okonji

Etisalat Nigeria has said its subscriber number has been  growing at  18 per cent since January 2014,  while  its active subscriber base has hit  20 million.

Chief Executive Officer, Etisalat Nigeria, Matthew Willsher, who dropped the hint in Lagos, described the growth rate as a significant milestone, attributable to the dedication of staff at the company and the responsiveness of Nigerians to Etisalat’s innovative products.
“I must emphasise that the remarkable growth we have recorded is a direct result of two factors - the commitment of our staff, who serve as a vital link in the chain which drives our operations, and the loyalty and warmth of our millions of subscribers. We can only respond to them by constantly improving our products and service delivery,” Willsher said.

In just six years of operations, Etisalat has become a major industry player despite the highly competitive nature of the Nigerian telecoms market. The company has introduced a wide variety of innovative and unparalleled products and services such as the first-of-its-kind educational tool in the youth market, Cliqlite; the first loyalty proposition in the Nigerian telecommunication industry, Etisalat GEM and the new state of the art Gold Series and Flagship Experience Centres.

The company also has a reputation for customer service and is said to be the only telecoms operator in Nigeria that continually exceeds all the quality benchmarks set by the industry regulator, the Nigerian Communications Commission (NCC).

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Asia stocks rise after US Federal Reserve ends stimulus

Nikkei 225 Index

Last Updated at 30 Oct 2014, 04:15 GMT

value	change	%
15660.79	+ +106.88	+ +0.69

Continue reading the main story

Related Stories

• US Fed ends QE stimulus programme
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Asia stocks mostly opened higher after the US dollar jumped in value following the end of the Federal Reserve's quantitative easing stimulus program.

The US central bank also confirmed it would maintain record-low interest rates for "a considerable time."
This caused the greenback to jump 0.7% to a near three-week high against the Japanese yen, which spurred gains in the country's exporter stocks

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Microsoft profits beat expectations despite Nokia drag

Microsoft boss Satya Nadella says Microsoft is being "positioned for future growth"

Continue reading the main story

Related Stories

• Microsoft smartphones to drop Nokia
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Microsoft has reported a fall in profits as a result of the cost of job cuts and its purchase of Nokia's smartphone business earlier this year.

The software giant made $4.5bn (£2.8bn) in the three months to September, 13% lower than the same time a year ago.

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Nigeria takes front seat in clean energy

:Home»Trending»Nigeria takes front seat in clean energy

In line with the “Sustain­able Energy For All Initia­tive” of the United Nations and the mandate of dou­bling the share of renewable energy, which is a reality for Africa, the first Africa Clean Energy Summit (ACES 2014) will hold in Abuja, un­der the headship of President Goodluck Jonathan and Dr. Kandeh Yumkella, in con­junction with strategic devel­opment partners and major stakeholders.
Coming on the heels of the current debate at the inter­national level on the need to shift focus from fossil fuels to renewable energy, Chief Op­erating Director, Africa Clean Energy Summit, Mr. Olawale Akinwumi, said the event will include a world-class meeting, an international exhibition, technical conferences, business fora and other activities billed to hold on the sideline of the event.

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Unity Bank lists 78.4bn shares

 …As mgt pledges enhanced returns
Having successfully completed its rights issue, Unity Bank Plc has assured its shareholders it is now positioned to en­hance profitability.
This is even as the Nigerian Stock Exchange (NSE) yes­terday listed a total of 78.40 billion shares from the rights issue and special placements on its daily official list.
According to the bank’s Managing Director and Chief Executive, Mr. Henry Semeni­tari, during the closing bell ceremony at the NSE, having successfully completed the rights issue, the bank would now deploy the funds towards upgrading its infrastructure and shoring up the balance sheet.
He stated that within the next few years, shareholders of the bank will not only benefit from capital appreciation but also from dividend as the funds would be used to achieve set goals.
“Dividend is a journey. It is not something that will come up immediately knowing where we are coming from but I believe that few years down the line, shareholders will not just benefit from capital ap­preciation but also from divi­dend.”

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Sterling Bank stresses importance of social media

Sterling Bank says it is supporting the 2014 Social Media Award, Africa because of the importance of social media in today’s society and the increasing role it plays in the lives of people on a daily basis.

The bank also based its decision on the need to recognise and celebrate excellence, creativity and the impact of social media on socio-economic development through its tools and platforms by individuals and organisations across the continent.

The Group Head, Strategy & Communications of the bank, Mr. Shina Atilola, said in a statement that the award also provided the platform for the bank to further consolidate its position as a leading light in the social media space.

Atilola added that the bank could not overlook the importance of social media in today’s society, hence the need to identify with the award.

He noted that the bank had recently won the Most Innovative Bank Award organised by the Nigerian Telecoms Awards courtesy of its Social Lender, a product that allows members of the social media community to obtain quick cash from the bank.

According to the Project Lead of the Award, Mr. Femi Aderibigbe, there are nomination opportunities into four categories of 15 awards.

He said, “Interested individuals and organisations can nominate from October 1 till 27, 2014 for a chance to win any of the coveted awards. All entries will be judged on influence, originality, creativity, scalability and impact. The judging process will see winners emerge through an open and credible system involving the general public, a virtual council and jury.”

He listed the Award prizes to include dollar-denominated cash prizes, professional and institutional trainings on social media and access to mentorship opportunities amongst other benefits for excellence and impact in social media practic

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Management reporting that attracts investments

 

Investment professionals have a challenging job; gaining an understanding of how a company’s business model operates, how management strategies are being implemented, and how that translates into performance and value creation is not easy.

According to a report by PricewaterhouseCoopers, management teams that provide high-quality, integrated reporting across all channels that tells a clear story not only help investment professionals but also enhance their own reputations and capital-raising potential.

The report titled ‘Corporate performance: what do investors want to know?’ noted that with the growing momentum towards more future-orientated integrated reporting, investment professionals around the world were asked for their views on what constitutes useful corporate reporting and where they see opportunities for management teams to improve on.

Produce quality report

The quality of a company’s reporting impacts their perception of management quality. Reporting quality could even have a direct financial impact for companies. The survey showed that only 11 per cent of the participants disagree with the idea that annual report disclosures about strategy, risks, opportunities and other value drivers can have a direct impact on a company’s cost of capital.

Investors want to know the cash flow

Explaining the business model clearly is an important part of high-quality reporting. Most investment professionals primarily want business model explanations to focus on how a company generates cash and the value that will become cash in the future. There is considerable scope for improving the effectiveness of company reporting in these areas, and on dependencies on key relationships and resources.

Explain the business strategies

In order to be meaningful, an explanation of a company’s business model needs to link to its overall strategy. Reporting on strategy should then include key priorities and actions to allow the company to meet its objectives, and progress made against them. This need for management teams to tell an integrated and coherent story – across strategy, business model, risks, resource dependencies and performance – is raised regularly in conversations with investment professionals, the survey found.

The need for a broader understanding of the environment in which companies operate is indicated by the substantial importance placed on information about dependencies on key relationships and resources, the position of the business in the wider value chain, and the company’s dependency and impact on the future supply of resources.

Investment professionals want a clear understanding of how a company is positioned in its market and its operating environment. They want to understand its impact on infrastructure, government tax revenues and communities, and its exposure to constrained resources such as water and to uncertain raw materials costs.

Disclose potential risk and proffer solutions

There are a number of ‘effectiveness gaps’ in the reporting of key risks to the business model. Investment professionals want to know how these risks are managed or mitigated. Although understanding management’s view of potential risks and their mitigation strategies is important, experts note that too much boilerplate disclosure may impede that understanding.

Link Key Performance Indicators with strategy, risks and remunerations

Operational Key Performance Indicators are almost as important as financial KPIs for company analysis and could be reported more effectively by many companies. The majority (75 per cent) of investment professionals surveyed would like to see a clear link from KPIs to remuneration policies.

A key finding is that investment professionals want to know why management has chosen particular measures. Such an explanation may help users of accounts to understand the importance of a particular KPI and helps to put the company’s performance against the target in context. Perhaps even more importantly, companies need to demonstrate a link between their KPIs and their strategic priorities, as well as their business model.

Sustainability KPIs (which relate to issues such as local community engagement, environmental impact, natural resource use and employee engagement) scored more highly with investment professionals than was seen in the past. This, the survey found may reflect an increasing awareness of the importance of such measures; they relate to factors underpinning a company’s ongoing ‘licence to operate’, reflecting key dependencies to the business model and are therefore highly relevant for long-term investment decision-making.

They like to see linkage between different elements of company reporting. Among those surveyed, 87 per cent say that clear links between a company’s strategic goals, risks, KPIs and financial statements is helpful for their analysis.

The annual report provides valuable information

The annual report remains a valuable source document, not only for financial information but also in relation to governance matters and environmental, social and human capital topics. It is also important for explaining strategy, risks and opportunities. The reliability and comprehensiveness of the annual report are its key strengths.

The results may interest management teams who spend time preparing annual reports but doubt whether investment professionals actually look at them. Across all conversations with investment professionals in this survey, the annual report was consistently cited as important in every information category. In contrast, cited data sources that did not reach the top three for any category include sell-side research, data providers and ad-hoc company press releases.

Reporting adjusted performance measures

When investment professionals analyse a company, their goal is to understand the quality and sustainability of its ‘underlying’ or ‘core’ performance. They want insight into what drives profits year on year and the measures that management teams consider to be market moving. They want to understand the impact on company performance of management actions relative to general market conditions

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Learn how your ATM can vomit extra N100,000 monthly

Strictly for Subcribers of Muogbo Vincent Incredible Special Offer. OUTSTANDING INFORMATION Mini-Importation Business The Only Genuine Business On The Internet That Earns Just Any Serious Minded Person Extra N80,000 - N300,000 monthly. (Worth: #6,500) If you have made up your mind to start Earning Extra N80,000 - N300,000 monthly on part time, you need do yourself a great favour. Place your order.  ************************************************** It's; Muogbo Vincent & Gbolagade Adetunji of www.naijawealthcoach.com reaching out to you today with this Incredible special Offer. I am not going to make this long and complicated because i believe that a good product and a trust worthy name will always sell itself. So, do not expect to see all those fluffs and fillers here.       Straight to the point, I have decided throwing out a superb offer for the sake of fellow Nigerians who will benefit immensely from it.   This was brought about by my insatiable appetite to always disseminate quality information that will improve the life of my esteemed Subscribers and honourable followers. Touching lives in my own special way gives me so much pleasure and satisfaction which gears me to always give out everything i deemed useful to my subscribers.            For this reason, i have decided to give out TEN (10) Quality materials plus 6 other bonuses that will benefit each and everyone of my subscribers. I bet there will be no way where there wouldn't be at least 4 to 8 out of these collections that will tickle your fancy.            I shall give all 10 materials plus 6 other bonuses to you for a token. May be i should first of all permit you check through the materials in my special collection.

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WHO declares Senegal Ebola-free

 Senegal is officially free of Ebola, with the benchmark of 42 days without the disease having passed without any new cases, the World Health Organization said Friday.
“WHO officially declares the Ebola outbreak in Senegal over and commends the country on its diligence to end the transmission of the virus,” the UN health agency said in a statement.

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Sterling bank deploys more ATMs to protect customers’ interest

To cushion the effect of the perceived reintroduction of the ATM charge of N65 by the Central Bank of Nigeria (CBN) on Remote-on-Us ATM transactions on its customers, Sterling Bank has announced the deployment of additional ATM points nationwide thereby increasing its footprint at existing and new locations.
The bank said that additional ATMs would be added to existing branches, while ATM Galleries would be put in place in strategic locations nationwide. A robust infrastructure to support the expansion has also been put in place, the bank said..

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Eniola, a 23 Years Old Akure Boy Started His Home Based Mini Importation Business With Only N10,450 From Home, Without Traveling Abroad, Importing Android Phones, Mobile Accessories, Jewelries etc

Eniola, a 23 Years Old Akure Boy Started His Home Based Mini Importation Business With Only N10,450 From Home, Without Traveling Abroad, Importing Android Phones, Mobile Accessories, Jewelries etc ___________________________________

He now makes over N250,000 in profit monthly importing and selling these stuffs, without a shop!

Here's exactly how he does it!

His name is Eniola, he was just a secondary school leaver from Akure Ondo state.

His problems have always been capital to implement all he has learnt   about how to import genuine original items legitimately from Asia, USA, UK etc at stupidly low prices without traveling abroad whatsoever.

After trying all he could without anybody helping out, he pressed on his mom to lend him about N10,500.

He then swung into action!
 

Guess the first product he imported?

O yea... that's some colorful blackberry phone covers.

And guess how much he bought each of them; and how much he sold them here in Nigeria?

Eniola, a 23 Years Old Akure Boy Started His Home Based Mini Importation Business With Only N10,450 From Home, Without Traveling Abroad, Importing Android Phones, Mobile Accessories, Jewelries etc ___________________________________

He now makes over N250,000 in profit monthly importing and selling these stuffs, without a shop!

Here's exactly how he does it!

His name is Eniola, he was just a secondary school leaver from Akure Ondo state.

His problems have always been capital to implement all he has learnt   about how to import genuine original items legitimately from Asia, USA, UK etc at stupidly low prices without traveling abroad whatsoever.

After trying all he could without anybody helping out, he pressed on his mom to lend him about N10,500.

He then swung into action!
 

Guess the first product he imported?

O yea... that's some colorful blackberry phone covers.

And guess how much he bought each of them; and how much he sold them here in Nigeria?

Eniola, a 23 Years Old Akure Boy Started His Home Based Mini Importation Business With Only N10,450 From Home, Without Traveling Abroad, Importing Android Phones, Mobile Accessories, Jewelries etc ___________________________________

He now makes over N250,000 in profit monthly importing and selling these stuffs, without a shop!

Here's exactly how he does it!

His name is Eniola, he was just a secondary school leaver from Akure Ondo state.

His problems have always been capital to implement all he has learnt   about how to import genuine original items legitimately from Asia, USA, UK etc at stupidly low prices without traveling abroad whatsoever.

After trying all he could without anybody helping out, he pressed on his mom to lend him about N10,500.

He then swung into action!
 

Guess the first product he imported?

O yea... that's some colorful blackberry phone covers.

And guess how much he bought each of them; and how much he sold them here in Nigeria?

  (Click Here To Continue - Page 2 of 3...)

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World Bank partners WTO to enhance trade in developing countries

The World Bank Group and the World Trade Organisation (WTO) have agreed to enhance their co-operation in assisting developing and least-developed countries to better utilise trade facilitation programmes to reduce trade costs and more fully engage in the global economy.
Being an active member of the two global bodies, many believe Nigeria and other African countries can leverage on this initiative to boost their export of non-oil products, particularly now that crude oil prices at the spot markets are fluctuating and creating considerable anxiety in the economic management schemes of OPEC member states.

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NIGERIA WON’T BORROW FROM IMF, WORLD BANK –OKONJO-IWEALA

The Federal Gov­ernment yesterday ruled out more borrowings from the Brettenwood insti­tutions to manage fiscal shocks and vulnerabili­ties arising from declin­ing crude oil price at the international market.
Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo- Iweala, who gave the assur­ance against the backdrop of threats posed on project implementation by declining crude oil prices at the rap-up session for Nigeria at the just concluded annual meetings of the IMF and the World Bank in Washington DC, yeste­rady, said government was considering a number of other options that did not include borrowing from the IMF and the World Bank.

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Euro Disney agrees to funding deal

Euro Disney said on Monday it had agreed a €1bn funding deal backed by its largest shareholder, the Walt Disney Company, which includes a share sale and a debt restructuring, to allow it to invest in the business, Reuters reported.

Euro Disney, the entertainment resort based in an eastern suburb of Paris, is 40 percent owned by parent Walt Disney and 10 per cent by the Saudi prince AlWaleed bin Talal.

As part of the offer Walt Disney would be required to launch a tender offer on Euro Disney shares. Depending on how many people subscribe to the capital hike, the company said there was a very small chance that the listed entity be removed from the stock market.

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