Category: Business

  • $500m loan from AfDB coming for agric

    $500m loan from AfDB coming for agric

    THE nation’s agricultural sector received a major boost yesterday as the Country Programme Officer of the African Development Bank (AfDB), Mr. Peter Sturmheit revealed plans to provide a credit facility of $500million to support small scale farmers in the country.

    He spoke at a stakeholders’ workshop on the formulation of the bank’s Assisted Agricultural Value Chain Income Enhancement Programme, in Abuja, adding that government requested the loan from the bank to further support its value chain.

    The loan, which is aimed at boosting farmers’ production capacity, is to be administered by the Bank of Industry (BoI).

    He said AfDB has started plans to make available additional $150million loan to the Nigerian Export and Import Bank (NEXIM) Bank) to enhance provision of infrastructural facilities in the agricultural sector.

    He said AfDB was awaiting approval of the National Assembly for the loan to be effective.

    He lamented the lack of infrastructure in the agricultural sector, saying existence of feeder roads is key to agricultural development, because if there are no feeder roads, it becomes difficult to transport agriculture produce.

    He disclosed that the bank is already facilitating the construction a feeder road between Nigeria and Cameroon, to facilitate exportation of agricultural produce between the two countries.

    The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, said the ministry has requested AFDB to support the Agricultural Transformation Agenda (ATA) through the value chain development of rice, cassava, aquaculture and sorghum in Nigeria.

  • Good night, May MayenemNzeribe

    I am unable to recall now how and the circumstance that first brought us together as friends. What I do recall, though, is that it was our early days in that once fascinating place, the real centre of Lagos, and known just as Surulere.

    That’s where if you were young and enterprising, you had to be.Surulere was so central to the Island, to Apapa, to Ikeja and in fact to everywhere that there’s action in Lagos. Now I am talking about Lagos in the late 60’s and early to mid-80’s. He lived at Curtis Adeniyi Jones Close and I lived at Godwin Okigbo and Later moved closer to him at Oyediran Street off Bode Thomas. For those of us who milled around May Nzeribe at the time: Steve Omojafor, Femi Kufo, TundeAdelaja, Dele Adetiba, to mention just a few, the Curtis Adeniyi Jones residence was a popular week-end hang-out for the “boys” and didn’t we have fun?

    May was always at his best entertaining his band of friends. He never discriminated in his kindness and generosity and was particularly nice to very young kids. We all knew May was much older than any-one of us but he related to all as age-mates and colleagues in advertising. When he eventually left Graham & Gillies where he was account Director and headed for Ogilvy and Mather, he remained a constant feature in all of the events of the then Association of Advertising Practitioners in Nigeria(AAPN).

    I had the privilege of serving with him on the Executive Council of that body for many years and it was to May that I handed over to after my 3-year stint as President in 1992. May Nzeribe was an adman to the core and he facilitated many Training and Development Programmes of that association both in his capacity as a member and also as Chairman of the Education Committee. He also represented the Africa Region at the international Board of International Advertising Association, New York. He ran the IAA with so much doggedness and commitment that he was once dubbed “ a one-man riot squad”. He would call meetings of the Nigeria Chapter and even with poor attendance by members would go ahead and present reports to New York so Nigeria continues to be relevant. Looking back now, it is only fair to thank irrepressible May for all he did to keep Nigeria on the world map when it mattered.

    May Nzeribe was there with Ayo Owoborode, Chris Doghuje, Charles Adedipe , a handful others plus the writer when the crusade to charter this business of advertising was started. It eventually led to the promulgation ofDecree35 of 1988 which set up Advertising Practitioners Council of Nigeria (APCON). It is gratifying that in his life-time recognition came his way with his appointment as the third Chairman of APCON Governing Council of which he was also one of the pioneer Council members in 1989 when the first Council was inaugurated.

    For those of us left behind we will continue to remember May as a committed advertising man, a lover of the people, friends and particularly young people, a very keen sportsman(difficult to beat at squash), and more significantly a PATRIOT! Sleep well my friend, till that day that we’ll meet to part no more. ADIEU!!!!

    Akin Odunsi, former executive chairman of Rosabel Advertising is now the Senator representing Ogun West District in the National Assembly.

  • ‘Why we premiered James Bond Skyfall in Nigeria’

    Before it was finally premiered in Nigeria, consumers of Heineken and fans of James Bond had waited in anticipation for the world’s leading international premium beer to deliver on its promise to host the movie premiere of the much talked about latest James Bond adventure, SKYFALL™.

    It was shown at Silverbird Galleria, Genesis Deluxe and Ozone cinemas in Lagos as well as Silverbird Abuja, Port-Harcourt and Enugu. It was a red carpet night of celebrities and suspense filled entertainment. After the movie, consumers and guests were treated to an exciting after party.

    Senior Brand Manager, Heineken, Jacqueline van Faassen said: “When two great brands like Heineken® and James Bond join together, excitement is guaranteed. Heineken® and James Bond are closely linked: both are aspirational, premium, iconic and international. We are proud of our long standing relationship with the Bond franchise.”

    The SKYFALL™ movie premiere is part of a bigger Heineken® Bond campaign, a thrilling new TV and digital campaign which sees Daniel Craig bringing his explosive portrayal of James Bond to a Heineken ad for the very first time. Challenging consumers to defy his enemies and ‘Crack the Case’, viewers are taken on an epic train journey alongside stunning Bond girl Bérénice Marlohe. An interactive experience on-line begins where the TV advert leaves off, providing the consumers with the opportunity to be a secret agent themselves and win exclusive prizes.

    Chief Commercial Officer of Heineken, Alexis Nasard said: “The creativity and progressiveness of the Heineken® brand combined with the legendary James Bond franchise will provide viewers with high entertainment values. Not only a hero, Bond is the ultimate ‘Man of the World’ – confident, resourceful and ready for new experiences, personifying the values of the Heineken® brand.”

    Heineken consumers, who watched the movie, commended Heineken® for hosting the SKYFALL™ premiere. Folashade Ogunshola, a banker said: “SKYFALL™ lived up to its billing and I thank Heineken® for making it possible for me to be among the first people that watched the movie in Nigeria.” Another consumer, Seun Ajayi, an event executive, said SKYFALL™ and Heineken® did not disappoint, “The hype was loud and intimidating and I’m glad it matched the movie which was full of unbelievable stunts and of world class production, Heineken® did well.” Earlier, anticipation was already built, following the appearance of dashing young men in James Bond attire along strategic locations in Lagos doing different James Bond posture.

    SKYFALL™ is the 23rd movie in the James Bond series; it features Daniel Craig’s third performance as James Bond, and Javier Bardem as Raoul Silva, the film’s villain. The film was directed by Sam Mendes and written by John Logan, Neal Purvis and Robert Wade.

    In the film, Bond investigates an attack on MI6; it transpires that it is part of an attack on M by former MI6 operative, Raoul Silva. The film sees the return of two recurring characters after an absence of two films: Q played by Ben Whishaw, and Miss Moneypenny played by Naomie Harris. SKYFALL™ was the last film of the series for Judi Dench who played M; a role which she had played in the previous seven films. The position is subsequently filled by Ralph Fiennes’ character, Gareth Mallory.

    In the plot, MI6 agents James Bond and Eve assist on a mission in Turkey to recover a computer hard drive stolen from a murdered MI6 agent that contains details of almost all undercover NATO agents in terrorist organisations. Bond and Eve chase the killer, mercenary Patrice, and attempt to recover the disk. During the chase, Bond is shot in the shoulder. While fighting Patrice, Bond is accidentally shot by Eve and is later considered “missing, presumed killed”.

    The head of MI6, M, comes under political pressure to retire during a meeting with the Intelligence and Security Committee Chairman, Gareth Mallory. On her return from the meeting, MI6 is hacked and an explosion occurs in the offices, killing a number of MI6 employees. Bond, having used his supposed death to retire, learns of the attack and returns to London. Shrapnel taken from his earlier shoulder wound helps identify Patrice, and Bond tracks the mercenary to Shanghai.

    Heineken has over the years developed a strong and successful relationship with James Bond movies spanning global partnerships with Tomorrow Never Dies, The World is Not Enough, Die Another Day, Casino Royale and Quantum of Solace and now SKYFALL™.

  • Stout war: Legend takes on Guinness

    Legend Extra Stout, from the stable of Nigeria Breweries Plc, is one of the few successful brands in the country. With the recent Gold Quality Award won by the Stout at the 51st Monde Awards in Athens, Greece, where Guinness Stout came second, winning a silver, the stage is set for a titanic marketing war in the stout category, writes WALE ALABI.

    In August, the global stout market was shaken to its foundation, when Legend Extra Stout clinched the prestigious Gold Quality Award at the 51st Monde award ceremony held in Athens, Greece ahead of its arch rival Guinness Stout. Since then, the stout beer sub-sector has not been the same.

    For the marketing egg-heads at Nigerian Breweries (NB), the award on Legend was considered a very remarkable achievement as it sent cold shivers down the spines of brewers of Guinness Stout. Moreover, consumers, who before then see Guinness product as the number one stout, may begin to ask questions whether their preferred brand was actually the market leader in the stout category.

    This is so much because the award placed Legend above competitions, including Guinness Extra stout and Guinness Extra Smooth, in the area of taste and quality.

    Having spent a better part of its existence in the Nigerian market playing catch up to Guinness Extra Stout, the new status has since redefined Legend as the best black beer that is full brewed from the finest ingredient and bottled under the highest quality standard.

    Monde Selection, an international institute for quality selections, is the founder of the annual international event organised to identify and recognise outstanding global brands. The body tests consumer goods from different global markets and grants them internationally renowned quality award based on research and independent quality evaluation of products submitted.

    After careful analyses and tests, the jurors of Monde Selection stated came out with the result and declared the NB product as the winner. Meanwhile, other stout brands from the Nigerian market were said to have also submitted products for evaluation, but Guinness Stout; its main competitor, came second, winning silver.

    Legend climbing to the top of the market against competition is not a surprise to many as its promoters have laid a good foundation for its success.

    Owing to the boring and uninspiring stout market, Nigerian Breweries Plc in 1992, launched Legend to inject excitement into the category. The launch was targeted at the younger generation in a more contemporary manner to associate the brand with already existing stout values; hence the first pay-off line for the stout ‘Light up your life – Put a spark in your life.’

    A little over a decade later, NB decided to reformulate and enrich the new Legend with Vitamins to reduce the bitterness and alcohol content of the brand.

    According to sources close to NB, the new formulation also removed the observed ‘burnt taste’ that gave the brand the initial unpleasant flavour. With this development came a new advertising pay-off, ‘Legend makes you feel real good’.

    Unlike previous activities around the brand, three years later, a new packaging, which involved change of bottle and labels, was introduced to bring excitement to the brand and tickle the consumers.

    The brand throughout this period never seemed to get it right in terms of positioning, packaging and quality. But in 2009, Legend was repositioned and repackaged to elevate the brand from savings to mainstream category.

    A unique propriety bottle with a new and exciting label heralded a ‘real deal’ communication campaign that eventual by culminated in the brand being certified the ‘real’ brewed stout brand by Monde Selection.

    In preparation for the current leadership in quality, Legend has evolved some interesting communications mechanics. The brand debuted with ‘it’s your life, xpress it now’ advertising campaign in 1992 to announce readiness to capture the youth segment of the dark beer category.  A new ad campaign was launched a few years later tagged ‘New Legend Extra Stout-carry Da Torch’. This campaign played around the dynamic flame and torch, which is the brand logo.

    Realising that the campaign couldn’t lift the brand beyond its previous status, the brand owners unveiled a new communication campaign to exude youth independence dubbed ‘Xpress Ur Independence Now!’ In 2007, ‘Life’s Much More Fun’ and ‘Correct bros don come!’ were launched, but all these still couldn’t lift the brand.

    This was then followed with ‘Legend, the real deal’ campaign, which seemed to have now ended its sojourn in the wilderness. The brand promoters ensured that the campaign went beyond the theme. Therefore, for the first time in the history of dark beer category in Nigeria, a new leader was elected.

    Market results shows Legend is the fastest growing beer brand in the country. Within a short time it has climbed up the market ladder to compete head-to-head with other so called major brands that have been in the stout market for decades.

    The brand has maintained over 65 per cent increase over the past years and this has continued to rise. How has the Legend brand been able to achieve this rare feat in such a competitive beer market? What factors propelled this brand to the top echelon of the market? These are some of the pertinent questions on the mouths of market watchers.

    A cursory look at some of the workings of the Legend brand reveals that indeed the brand merits the position it occupies. One of the most distinguishing factors of the Legend brand is its taste. Legend is regarded as the best tasting stout brand in the country. A blind test with several participants revealed that the taste of Legend was unique and tasted better than all others.

    Legend is also the only full brewed stout in the market. Another factor is that of cost. The Legend brand not only tastes better, but it’s also pocket friendly. The unique combination of cost and superior product has played to the advantage of the brand.

    Another factor, that has proved significant to the success story of the Legend brand, is its association with entertainment. Knowing full well that Nigerians are fun loving people, the brand in March 2011, introduced ‘Real Deal Nite’ as one of its consumer engagement platforms. The brand has been able to sustain the intensity and excitement of the event far beyond expectations. In doing this, Legend seems to have realized what its consumer’s desire.

    Commenting on the Monde Gold Quality Award won by Legend, Marketing Director of Nigerian Breweries Mr. Walter Drenth, said every time Legend calls, it does so to share and celebrate good news.

    “You are all living witnesses to the tremendous strides the Legend brand has made over the years, establishing itself as a real stout on many counts and refreshing its outlook uniquely. Over the past 20 years, the Legend brand has continued to position itself as a credible choice of stout, full brewed,  the way an original stout should – giving Legend the credibility to be called the ‘Real Deal,’ – a sincere proposition that has sustained the brand s’ growth since the re-launch and acceptance in 2009.”

    He reminded the consumers that the campaigns at the re-launch further rides on the brands’ real brewed positioning with emphasis on the production processes considered desirable for a real stout. This innovation, according to him, has had a tremendous positive impact on the brand’s volume, market share and overall equity.

    “Today, Legend has an unprecedented story of being the fastest growing stout brand in the Nigerian stout market, extremely outclassing others in the category. Thanks to the loyal consumers for their patronage and steadfastness. I have no doubt that you are aware of our high performances over the years both in blind tests and several other testimonies from consumers; Legend has remained remarkably unique in taste and quality,”Drenth said.

    With the current scenario in the stout market, consumers and industry watchers are waiting on what the next step of marketing egg-heads at Guinness House will be in the market with Legend Stout.

  • ZTE, Bharti Airtel win awards

    ZTE Corporation, a global provider of telecommunications

    equipment, network solutions and mobile devices and Bharti Airtel (“Airtel”), a leading telecommunications services provider with operations in 20 countries across Asia and Africa, has announced that they have won the Best Cost Efficiency Initiative Award at the Africa Com Awards held in Cape Town, South Africa for their Hybrid Power Solution.

    ZTE’s Solar+DG Hybrid Power Solution is a green energy solution specially designed for Bharti Airtel Africa base station sites. The solution significantly reduces the use of Diesel Generators by almost 80 per cent. It efficiently utilises solar power alongside existing diesel, therefore, optimising initial investment on CAPEX.

    Compared with traditional hybrid solutions, this new hybrid solution enhances the consistency of power supply of the sites and provides Airtel with a flexible investment strategy.

    It especially reduces carbon emission in addition to OPEX savings. By going green with ZTE’s solution, Airtel benefits from the perfect balance between Operating Expense Saving and Capital Expenditure whilst greatly contributing to environmental protection.

    Airtel’s Director of Supply Chain Management in Africa, Amitabh Prasad, said: “Airtel is committed to making telecom affordable across Africa on a sustainable basis. ZTE did a great job in implementing the Solar Hybrid solution. We have started to reap benefits from our investment both in terms of fuel savings and environment protection, which is a real win-win for all of us.”

    “We are honoured to receive this award; it consolidated ZTE’s achievements in the telecom sectors,” said ZTE SVP Mr. Wang Jiaran. “ZTE has established the foundation and partnership with Bharti Airtel Africa and we will continue to bring valuable products and services to our African customers”.

    ZTE is a publicly-listed global provider of telecommunications equipment and network solutions with the most comprehensive product range covering virtually every telecommunications sector, including wireless, access & bearer, VAS, terminals and professional services. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries, helping them to meet the changing needs of their customers while growing revenue.

    The company is China’s only listed telecom manufacturer that is publicly traded on both the Hong Kong and Shenzhen Stock Exchanges

  • Sanusi and bank accounts number portability

    Why do many Africans carry several mobile phones? The leading cause of this attrition is poor quality of service by the mobile network operators. The same goes for banking services. Nearly 60 per cent of customers hold multiple banking relationships. This has made loyalty in the two industries a rare commodity. However, in telecom industry, this could change as several countries such as Kenya, South Africa, Ghana and Nigeria are implementing number portability system.

    Number portability would empower phone subscribers to change to other network seamlessly from one operator to another, and thereby save them the hassle of buying a new SIM pack.

    However, my focus is not on the desirability or otherwise of portability system in telecoms. It has been proven without doubt that the system works. My concern is whether this system could be adopted by the banking industry.

    Like in the telecom sector, the leading cause of this attrition in banking is poor customer service. What really determines the choice of a bank for a customer goes beyond loyalty to a brand.

    With the market now flooded with similar products, or what my friends called bankwagon, the choice of whom to bank with boils down to service, quality of experience, and to some extent, personal circumstances such as geographical location or a company-mandated salary account.

    Other reason customers have more than one account is that often; it is both cumbersome and expensive to close the old one, especially if it involves terminating a bundled product. But can the introduction of Bank Account Number Portability in the banking system change this? Bank Account Number Portability will enable customers move their bank accounts seamlessly from one bank to another, and thereby save them the hassle of closing and opening accounts, reissuing standing instructions and so on.

    For account portability to work, two major variables would need to be established. One, the banks must adopt a standardised practice of account numbering, indicating the bank and code number of the branch owning the account. Two, a centralised database containing the details of all bank accounts of the member banks, which serves as the repository of all porting information would need to be established.

    I wonder if Sanusi Lamido Sanusi, Governor of Central Bank of Nigeria (CBN) had account number portability in mind when the regulatory bank implemented Nigerian Uniform Bank Account Number standard (NUBAN) for the banks in the country. With effect from May 16, 2011, all 13-digit account number was replaced with a new 10-digit account number.

    The 10-digit NUBAN makes Nigeria fully compliant with the 10-digit account number structure required by the West Africa Monetary Institute (WAMI) towards the economic integration of ECOWAS countries. Whatever Sanusi had in mind about NUBAN, the first step towards bank account portability had been taken in Nigeria. Who will take the next step? When?

    • Sola Fanawopo, specialised communications analyst contributed this piece.

  • LG launches mosquito air conditioner

    LG Electronics, a global leader in heating, ventilation and air conditioning, has unveiled its latest residential air conditioner (RAC), the anti-mosquito.

    The launch was held at the Lagos Oriental Hotel. Built to provide maximum comfort and reliable operation, the new model features mosquito-repelling ultrasonic wave technology.

    “LG prides itself on tailoring its products and technologies to the specific needs of consumers in Africa,” said Mr Junhwa Jeong, General Manager, Airconditioning and Energy Solutions, LG Electronics.

    “In Nigeria, as well as in a number of other African countries, malaria remains a prevalent threat. LG’s Anti-Mosquito air conditioner is a great example of the company’s commitment to improving both health security and the quality of life in Africa by applying technological innovations in intelligent ways.”

    Completely harmless to humans, the repellant technology inside the Anti-Mosquito air conditioner deters 64 per cent of the female Anopheles mosquitoes within 24 hours and 82 per cent overall according to Peety Grady Chamber tests. (Females of the genus Anopheles are malaria transmitters).

    Aside from offering greater peace of mind, LG’s anti-mosquito AC also comes with all the advantages of LG’s advanced air conditioning technologies; it delivers powerful cooling and is remarkably reliable even in extreme temperatures.

    “Every region poses different challenges from an engineering perspective. In Nigeria and other West African countries, the sun is hotter, dust build-up tends to be greater and the electricity supply is unpredictable,” said Jung. “By matching technologies directly to these region-specific challenges, we can create real solutions that will help bring about profound and meaningful changes to consumer lifestyles.”

    Designed specifically for areas with unreliable power supply, the technology in the Super Automatic Voltage Switcher (Super AVS) is another example of a tailored solution for the West African market.

    Power blackouts and surges play havoc with electronic devices; the Super AVS guards against this havoc and protects the compressor from being damaged by fluctuations in the electric current.

  • Creative CSR: Transit communications for good causes

    Billed to showcase the creative works of practicing graphic artists in Nigeria, the KekeAds Creative Arts & Graphics Annual competition promises to reveal the creative energy, vibrant colours and the attraction the Keke Advertising Display system in communicating various social causes by displaying creative works from the creative advertising practitioners in Nigeria on the advertising panels inside and outside the vehicles.

    Marketing Edge magazine, as well as top advertising agencies – Noah’s Ark, Yellow Brick Road and Advertange Ltd have signed up to support Smate & Smate International Ltd, the patent holder for the Keke Advertising System to introduce a new Creative Arts and Graphics competition, CAGAC 2012 in collaboration with the Advertising Practitioners Council of Nigeria (APCON), that would address the various social problems affecting the nation. Renowned figures in the Nigerian advertising community will select the works submitted for the competition, which will be a juried competition on works addressing social causes and issues submitted by practicing creative and graphic artists in Nigeria.

    CAGAC will promote the works of developing creative artists and at the same time draw attention to various cause related messages. Featuring imaginative works and the diverse skills of the photographers, copywriters and graphic artists in Nigeria, the CAGAC project will aim to regenerate Creative Arts in Mass Communication in Nigeria and among other objectives be an instrumental factor in making social causes an important aspect in the lives of Nigerians as they commute daily, encourage Social Responsibility in Nigeria, provide an opportunity for the public to become more aware of the issues that affect them and enhance the perception of the media as a powerful communications tool amongst the commuting public.

    The organisers are hopeful that the competition will also focus on capturing the imagination of the public, improve the awareness of the causes, help to commercialize the works of the participating graphic artists, assist in protecting lives, promoting healthcare, and help with engendering behavioural change among Nigerians.

    Managing Director, Smate & Smate International Limited, Mr. Esona Onuoha said, “It is about time the public were made aware of the many social problems and issues affecting the country. The competition will be the catalyst required to encourage a legion of creative professionals in the industry to showcase their skills and their belief in the power of the synergy the Keke motor tricycle has with commuters in addressing these issues. We are expecting the public to support this competition by voting for the favourite campaigns on-line, which is free and come out to show our talented, up-coming graphic artists that we support their development.”

    The average Nigerian leads a tough life. Long hours in heavy traffic, packed commutes and the hustle and bustle of urban living can make it hard to keep things in balance. Kekes play a vital role in restoring the equilibrium, providing affordable transportation to the millions of people who live and work in Nigerian cities. By bringing the images of the many issues that Nigerians confront to life, the competition will encourage the awareness of social problems such as corruption, security, road safety and health not just in the minds of Nigerian commuters but spreading its wings beyond the nation and the continent.

    Works from the competition will be brought together and presented on-line at the KekeAds website and on the social media platform, facebook, where people all over the world can vote for the most inspirational works, then culminate in a gala of an exhibition of the finalists’ works and talks from leading figures in the advertising sector from different parts of the country at the Akwa Ibom International Trade Fair (AKWAFAIR 2012).

    The KekeAds Creative Arts & Graphics Annual 2012 is expected to expand the creative art world, promoting the awareness of the concepts and artists to a public that has been left without much cause related advertising art related activities for quite a long time. The maiden exhibition opened on November 17 and will last until December 1 when the finalists will be awarded some cash prizes for their works.

    Examining a few facts on social problems in Nigeria, economic degradation has a severe effect on health, especially for children as up to 20 per cent of Nigerian children die before the age of five, primarily from treatable diseases such as malaria, measles, whooping cough, diarrhoea, and pneumonia. Less than one-half of infants are immunized against measles, and malnutrition affects more than 40 per cent of children under the age of five. Adults are equally affected and only 20 per cent of rural Nigerians, 52 per cent of urban Nigerians have access to safe water and 30 per cent have no access to health care.

    Diabetes can affect anyone yet many are unaware of the deadly consequences of leaving it untreated. Seven million people are diagnosed with type 2 diabetes each year. The Keke panels have been highly effective in communicating health related programmes of the World Health Organisation (WHO) in Nigeria through its support of the Love Health Foundation’s initiative in improving diabetes awareness in Nigeria.

    Crime in Nigeria has been on the rise as a result of unemployment, economic decline, and social inequality, which are abetted by inefficient and corrupt police and customs forces. More than half of all offenses are thefts, burglaries, and break-ins, although armed robberies and recently, kidnapping are also prominent. Participants will be expected to come up with designs that can help combat crime whether by informing the public of the number to call, crime fighting initiatives or the vigilance required to in the war against crime.

    Smate and Smate as part of its corporate social responsibility, recently launched on its advertising display system, call centre telephone numbers for the Lifeline Care Association (LCA), which provide ambulance services and rescue missions in the FCT for emergency purposes. The numbers are promoted through the back panels of the tricycles all over the Federal Capital Territory (FCT). Road safety is one of the aspects expected to get a number of entries and the organisation has reach out the Federal Road Safety Corps (FRSC) to join the project in promoting safety on the roads, use of seat belts and discouraging drink driving in order to save the lives of road users.

    Smate & Smate and its partners in CAGAC 2012 are also as concerned as the rest of the nation at the ruthlessness with which the country is being attacked and brought into a state of chaos by terrorists. Not only are the dastardly acts bringing Nigeria into disrepute to the international community, they are destroying the hopes of Nigerian citizens many who are now unable to conduct their affairs freely as they fear for their lives and mourn the loss of loved ones.

    Nma Nwosu, Marketing Manager, Smate & Smate said; “We would like to become one of the country’s strategic media choices using our patented ‘Keke’ display system of transit advertising which is rapidly becoming the most effective out-of-home mass communication media in the country.

    Terrorists operating in the various regions are less likely to be stopped by people who watch the television advertising campaigns funded by the government and are more likely to be discouraged by creative multi-lingual messages displayed to the millions of commuters who use the Kekes daily.”

    She further stated that “The Kekes which would carry various messages across the country could be utilized in giving out important numbers of the security agencies and in reminding people to be on the lookout for suspicious activity. We are pleased to make a contribution towards meeting the commitment to protecting the lives and property of Nigerians.”

    The KekeAds inside panel and leaflet distribution system are visible to the passengers inside, to further enhance any campaign and disseminate critical information educating Nigerians on the right action to take to defeat terrorism and tackle other social problems. The back panel will make an impact on motorists and their families, whenever they are behind a Keke in a traffic jam or on the move. Smate & Smate have estimated that over 30 million people would see the messages daily in a national campaign.

    The challenge will be the required catalyst to encourage a legion of creative people in the industry to showcase their skills and their belief in the power of the synergy the Keke motor tricycles have with commuters.

    The competition will be the first of an annual project for the Creative and Graphics Arts which will encourage public enlightenment on social problems affecting the nation.

    CACAG holds between 17th of November and the 21st of December 2012 when the prize awards will take place at the Akwa Ibom International Trade Fair (AKWAFAIR 2012).

  • Fuel subsidy costs N679b, says PPPRA

    Fuel subsidy costs N679b, says PPPRA

    Petroleum Products Pricing and Regulatory Agency (PPPRA) yesterday said the Federal Government has spent N679.736billion on fuel subsidy this year.

    Executive Secretary of PPPRA, Reginald Stanley stated this while defending the agency’s budget before the Joint Committee of the Senate and House of Representatives on Petroleum (Downstream) in Abuja.

    He said the PPPRA has so far saved N671.706billion in subsidies this year, adding that of the N679billion subsidy payments, the NNPC got N337.7billion, while other marketers received N342billion from January to October, as against N1.351trillion paid for the same period last year.

    He said of the N1.351tillion subsidy disbursed between January and October last year, NNPC got N517.325billion, while other marketers received N834.117billion

    He said the shortfall in payments for January to October this year, represented 49.7 per cent less than the payments for the same period in 2011.

    Stanley said a daily average of 35.642million litres of fuel was supplied this year.

    Of the amount, he said the NNPC supplied 18.232million litres, while other marketers provided 17.409million litres between January and October this year.

    He said this was against the daily average of 59.712million litres of products supplied during the same period last year, made up of NNPC’s 22,424,064.94 litres and other marketers’ 37,288,686.75 litres.

    He said the total daily average supplied this year represented 40.11 per cent less than the quantity supplied for the same period last year.

    He further disclosed that the total numbers of marketers are now 38 as against 128 last year.

    While defending the agency’s N5.7billion overhead expenditure last year, Stanley said the amount represented the salaries of 249 staff, Pay-As-You-Earn (PAYE) and National Health Insurance Scheme (NHIS).

    Meanwhile, the Presidency has said there is no crack in the cabinet over unpaid petroleum subsidy claims.

    Reports making the rounds indicated that there was a disagreement between Minister of Finance and Coordinating minister for the Economy, Dr. Ngozi Okonjo-Iweala, and the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke over N1.13trn subsidy claims.

    According to the report, a delegation of the Nigerian National Petroleum Corporation led by Alison-Madueke was said to warned President Goodluck Jonathan of an imminent fuel scarcity in the country if government failed to pay the debt after attempt to make the finance minister settle the bills raid.

    However, Dr. Reuben Abati, the media aide to the president reacting to the report yesterday said, “I am not aware of any disagreement between the two ministers. I read those stories too but those stories are usually speculative. They are not based on any substance and I think we should refrain from this attempt to set one individual up against the other.

    “The cabinet over which Mr. President presides overworks as a team and at all times, what he emphasises is team spirit. I am not aware of any open disagreement between the two ministers.”

  • Banks report N28b fraud in 2011, says NDIC

    Banks report N28b fraud in 2011, says NDIC

    A total of 2,352 fraud cases involving ¦ 28.40 billion with expected/contingent loss of about ¦ 4.071 billion were reported by Deposit Money Banks (DMBs) in 2011.

     This information is contained in the 2011 annual report of the Nigeria Deposit Insurance Corporation (NDIC). According to the report, this figure represents “an increase of 53.5 per cent in 2011 over the number of reported fraud cases of 1532 in 2010.” The increase was attributed to rising fraud cases through internet banking and suppression of customer deposits by bank officials.

     The NDIC was however happy that “though the amount of fraud and forgeries increased by 33.40 per cent from ¦ 21.29 billion in 2010 to ¦ 28.40 billion in 2011, the expected loss decreased by 65 per cent from ¦ 11.68 billion in 2010 to ¦ 4.07 billion in 2011.”

     The report stated that the top 10 banks with the highest number of reported fraud cases accounted for 87.1 per cent of the banking industry fraud cases in 2011 compared to 51.08 per cent in 2010.

     The types and nature of the fraud and forgeries committed during the year under review revealed that ATM Fraud and Fraudulent transfers/withdrawals accounted for the largest number of perpetrations as had been the case in the preceding year.

     There were also rising fraud cases through internet banking and suppression of customer deposits. According to the report, there were 738 ATM frauds; 331 Fraudulent Transfer/Withdrawal of Deposit; 280 cases of Presentation of Forged Cheques; 240 cases of Outright Theft; 219 incidences of Suppression of Customer Deposit; 123 cases of Fraudulent Conversion of Cheques; 112 Non Dispensing Of Money But Registered By The Electronic Journal; and  108 cases of Internet Fraud.

     Of the 2,352 fraud cases reported during the year under review, 498 were attributed to staff/staff participation which showed an increase of 141 from 357 cases reported in 2010. Despite the increase, the losses resulting from activities of unscrupulous staff of banks declined by 62.3 per cent from ¦ 6.43 billion in 2010 to ¦ 2.42 billion in 2011. “The reduction was as a result of better and improved security and internal control measures put in place by the banks for transactions involving large sums of money,” the report said.

     However, the number of staff involved increased by 39 per cent in 2011 from the preceding year. The highest number of staff involved in cases of fraud and forgeries during the year under review was from the clerks and cashier status as had been the case in the preceding years with the lowest being from the typists, technicians and stenographers.

     The report attributed the causes of frauds to two categorised namely: institutional/endogenous factors and environmental/exogenous factors.

    The institutional/endogenous causes the report explained “are those that can be attributed to the internal domain of the organisation such as poor accounting and weak internal control systems, poor management, inexperienced staff and ineffective supervision of subordinates, uncompetitive remuneration and perceived sense of inequity in reward, overstretching of staff, disregard of ‘Know Your Customers’ (KYC) rules, et cetera.”

    Environmental/exogenous factors the report added are factors that can be directly traced to the bank’s operating environment and they include undue societal demands, low moral values, slow and tortuous legal process, lack of effective deterrent or punishment and, at times, reluctance on the part of the individual banks to report fraud cases due to the negative publicity it could attract for their image.

    As a result of these fraudulent practices, the NDIC warned all insured banks to “employ measures to strengthen their operational risk management frameworks in the areas of internal control and security systems to combat the incidence of frauds and forgeries.”

    Insured banks were also cautioned to “endeavour to fully comply with guidelines, rules and regulations on good corporate governance in order to take control of the situation.”

    The NDIC said it would continue to ensure banks’ compliance by imposing sanctions in case of any breach by any insured bank but appealed to insured banks to “thoroughly screen prospective employees by obtaining status report from previous employers and relevant agencies while employees should be made to be aware of the risks in defrauding or attempting to defraud the bank and the action expected if caught. Insured banks should also endeavour to educate their customers on the use of ATM and other electronic banking services.