The Nation Newspaper

Tag: bonanza

  • Glo gives car, Tv, others in Everyday Bonanza

    Glo gives car, Tv, others in Everyday Bonanza

    Their joy was uncontainable; their surprise profound as  the first set of winners including the winner of a brand new Hyundai Accent, in Globacom’s Everyday Bonanza,  went home with their prizes.

    The reward scheme was launched last month with the promise of specified prizes each day of the week to subscribers who recharge with a minimum of N100.  The prizes included the Hyundai car to be won every Sunday.

    After the first set of draws conducted for customers who met the daily minimum recharge qualification criteria between October 23 and November 6, over 2500 winners emerged nationwide. The first set of winners in in the Lagos environment were the ones who received their prizes yesterday.

    The star of the day was a 44-year-old indigene of Takum Local Government of Taraba State, Mr. Shishi Tanini, who  received a brand new Hyundai Accent Car. Others who won Flat Screen LED TV sets, generators, refrigerators, Microwave ovens prizes also received their prizes. A total of 60 power generating sets, 60 refrigerators, 120 microwave ovens and 30 LED television sets were received by excited subscribers  at the Lagos presentation.

    The father of three  thanked Globacom for making him a car owner, adding that he will henceforth  promote the Glo brand across the nooks and crannies of the country.  He advised other subscribers who are not on Glo network to switch over to enjoy wonderful benefits on both voice and data. Glo truly rewards”, he stated.

    Deputy Speaker, Lagos State House of Assembly, Hon  Wasiu Esinlokun Sanni presented the car supported by  Chairman, Lekki Local Council Development Authority(LCDA), Barr Mukundasi O. Ogidan; and National President of the Cooperative Federation of Nigeria, Mr. Oriyomi Ayeola.

    Hon. Sanni said he was proud of Globacom for its unprecedented way of rewarding and empowering its customers.

  • Binatone unveils trade fair bonanza

    Binatone unveils trade fair bonanza

    Electronics manufacturer, Binatone, has disclosed its plans to participate at this year’s Lagos International Trade Fair, holding at the Tafawa Balewa Square Complex, Onikan, Lagos, between November 3 and 12. The firm said it will reward its customers with fabulous discounts of up to 10 per cent, plus free gifts galore on every purchase during the fair.

    Its Managing Director, Mr Prasun Banerjee, disclosed that Binatone products like Multi Cookers, Air fryers, Electric Hot Plates, Hair dryers, Hair clippers, etc. will be given out to customers upon the purchase of select Binatone products at the Fair.

    Unveiling the company’s products line-up, Banerjee disclosed that a full range of Binatone products that will be on display during the fair include the first of its kind, innovative new Binatone tower music fan with Bluetooth pairing, Designer ITAL 1660 stand fan, New 18″ stand fan ES1850, TS 2020 –unique high power 20″ stand fan, Blender model BLG 595 with unbreakable jug and ice crushing facility, JE 580 fresh juice extractor, a range of three and four litre jug and kettles and the energy efficient ceramic cooking plate for quick heating and cooking.  He stated that customers will also have the unique opportunity of buying Binatone’s new pressure pot with free transparent lid, new economy model table top gas cookers, heavy weight and high power 1200w dry irons, steam irons, and premium garment steamer for ironing “Babaringa” and “Boubou” clothes.

    “Another opportunity awaits members of the public to buy Binatone’s top of the range products at the Lagos International Trade Fair as we offer assurance to our customers with two years warranty on every Binatone product.

  • Access Bank, Dangote Cement for N500m bonanza

    Access Bank, Dangote Cement for N500m bonanza

    As more winners emerge in the on-going N500 million Dangote Cement Retailers Bonanza, Season two, the scope of the winnings has been expanded by the Access Bank which is partnering the cement company to offer additional prizes to the Dangote Cement distributors and retailers.

    At the presentation of prizes to the new winners in Lagos yesterday, the bank told the winners that henceforth, any distributor or retailer who refer someone to the bank would stand the chance of winning a return ticket to Dubai and other household items like Fridges, freezers, fans television etc.

    At the Isolo, Lagos depot of the Dangote cement yesterday, leading the pack of star winners was a 90-year old retailer, Baba Hassan Shitta, who defied early morning drizzling to take delivery of his 600 bags and 20 ft. he won.

    He explained that he has been in the business of cement retailing for years and that Dangote cement bonanza is the first time he see a cement company running a promo to benefit the retailers.

    “I was more that excited when I received the phone call that I have won 600 bags of cement. It was my distributor who helped me filled the coupon that submitted. Ever since I started the business, I have never sold any other cement in my life. Dangote has been good to me and this is another opportunity for me again. We are being encouraged.

    “May God continue to bless Alhaji Dangote for his generousity, imagine how much the number of cement they are giving me will add to my business. It’s a lot. I will take story to Ikorodu and tell others who are not yet participating in the Bonanza that it is real,” Baba Shitta stated.

    Also, basking in the euphoria of their winning, Soyombo Rashidat of Morash Ventures, Ikorodu and Madam Khadijat Oluseun Rasheed of Kazeezat Enterprises, Ibafo said the Company have strengthened their resolve to continue in the business and that Dangote has revolutionised the business to the level where they could pass it on to their children.

  • Stallion Motors partners Diamond Bank on centenary bonanza

    Stallion Motors partners Diamond Bank on centenary bonanza

    Stallion Motors Limited in collaboration with Diamond Bank Plc has inaugurated new sales offer for customers to discover the uniqueness of precision engineered Volkswagen and Skoda passenger cars in a commemorative sales bonanza – tagged ‘Nigeria Centenary Celebration Bonanza.’

    Announcing the scheme in Lagos, Volkswagen Nigeria Head of Sales and Marketing, Mr Manish Daryanani said the offer is designed with a seamless repayment sequence to ease the process of vehicle ownership.

    The bonanza, which offers for sale a select Volkswagen and Skoda models, including Volkswagen Polo, Jetta, Passat and CC variants as well as Skoda Rapid and Octavia models.

    Daryanani said customers can walk into any of Stallion Motors’ Volkswagen and Skoda showrooms nationwide to place their orders.

    Volkswagen and Skoda are part of the Volkswagen Group marketed in Nigeria under the Stallion Motors franchise.

    Skoda World Head of Sales and Marketing, Mr Sanjay Rupani said the scheme is open to all customers including those with or without functional account at Diamond Bank PLC.

    He said the trio of Volkswagen, Skoda and Diamond Bank PLC have cautiously designed the scheme to enable beneficiaries’ access interest free funds without necessarily paying processing fees or showing collateral.

    And as part of the bonanza, “customers will be eligible to one year free service and one year comprehensive insurance cover couple with other benefits as special anniversary pricing, free registration and one free Samsung Galaxy Note 3 NEO phone for any Volkswagen and Skoda cars purchased during this campaign,” Rupani explained.

    While also adding that successful customers could spread payment tenure over a period of up to 48 months in affordable monthly installments, the Skoda World sales and marketing coordinator said the evolving needs and preferences of prospective vehicle buyers prompted this campaign, which essentially seeks to change the predisposition of car buyers to embrace tried and tested European brands that are durable and serviceable.

    “Our objective is to provide the best products and services to our customers and enable them to enjoy value-added experience in line with Volkswagen clear value for customers – affordability, reliability and German engineering,” he said.

    The auto marketing concern has announced starting monthly installment of N66, 000 for Volkswagen Polo; N76, 000 for Jetta; N110, 000 for Passat; N114, 000 for the CC while Skoda Rapid and Octavia start from N71, 000 and N81, 000 monthly installments respectively.

  • Waiver bonanza goes on

    Waiver bonanza goes on

    •List of latest beneficiaries shows nothing has changed

    IF Nigerians needed proof that the import duty racket was alive and well, the latest report showing the Federal Government as granting N25.8 billion in waivers over a five-month period this year should be proof enough. Indeed, if it seems any consolation that this may not come close to the preceding three-year (2011-13) an average of N478 billion yearly, the return appearance of some companies on the beneficiaries’ list would seem a measure of how very little has changed in terms of the attitudes which underlie the administration of the waiver regime.

    Obviously, old habits die hard. For, how else can one explain the case of Globe Motors said to have got a waiver of N991 million for the import of the 290 cars used for the World Economic Forum in Africa? In 2012, it was Coscharis Motors securing the same largesse for the 200 exotic cars it supplied for the 7th African First Ladies Peace Mission (AFLPM) summit in Abuja.

    Another incongruity on the list was the FCT administration said to have received waivers to import “specialised items such as customs made carpets, timber dining chairs” for the presidential banquet hall. Compare this with Borno State government said to have got N984.79 million waivers for agricultural machineries. With such notable examples, Nigerians cannot but wonder if indeed anything has changed.

    The examples highlighted above obviously illustrate what is oftentimes the disjunction between objectives as advertised by government and the specific application of the policy.  But then, there is even a more worrisome dimension which the government continues to act as if to wish it away either because it is too embarrassed to admit, or it has no defence to offer – the discrepancy between the Nigeria Customs Service cumulative waivers record of N1.4 trillion for the period 2011-13 and the finance minister’s version of N170 billion for the same period.

    That discrepancy, till date, has not been satisfactorily explained. Indeed, the suggestion is that the minister has since moved on, hence her boast in her ‘new’ regime of “a sector-wide waiver to provide specific incentives for some strategic and job-creating sectors” as against the ancien regime “when waivers were granted to individual businesses, which resulted in rent-seeking behaviours and an uneven playing field for other businesses”.

    We do not accept that the best way to drive public policy is to ignore the past or simply dismiss it as gone forever. And who says that same ignoble past would not be repeated at great costs to the economy? Nigerians obviously deserve the benefit of knowing the factors responsible for the discrepancy and who the beneficiaries are.

    At a more fundamental level, we believe the challenge goes beyond merely stating that the waivers would serve the public cause.  We have no doubt that it could, if and when strategically applied. Just as we understand that there would never be shortage of good intentions behind every public policy; the challenge is how to measure their specific impacts in terms of employment generation and the various linkages to the economy.

    This is where the Federal Government has more work to do. It goes beyond the routine of making the names of beneficiaries of the duty waivers public. As important as that is, it is also our view that the process is best served when the beneficiaries are challenged to demonstrate how the waivers they enjoyed have impacted on the economy in specific areas of capacity enhancement, employment creation, and in equitable pricing as against being another line item on the company’s bottom-line.

  • £4b tax bonanza as 650,000 cash in pensions

    First official analysis of British Government’s flagship pension reforms showed that more than 130,000 Britons will withdraw money from funds yearly.

    More than 650,000 savers are preparing to take advantage of George Osborne’s flagship pension reforms over the next five years, providing the government with a £4 billion tax windfall, the first official analysis of the scheme has revealed.

    The research has found that under the reforms, which scrap rules that currently force most Britons to buy an annuity, more than 130,000 Britons a year will withdraw money from their pension funds.

    The figures suggested savers will take out around £26 billion from their pension pots in five years, equivalent to just under £40,000 each. This will boost Treasury coffers by £3.8 billion between 2015 and 2020 as pensioners are hit by higher levels of tax, according to the figures.

    Pension experts warn that many savers will withdraw more than they need and could find themselves dragged into the higher rate tax band.

    Tom McPhail, head of pensions research at financial services firm Hargreaves Lansdown, said: “A lot of people are clearly very interested in taking advantage of the new pension freedoms, however many of them probably don’t realise that they could end up losing nearly half their pension pot in tax.

    “It is essential that suitable safeguards are put in place to ensure that they are alerted to the tax implications of taking all their money out. This is undoubtedly clever politics from the Chancellor, but if we’re not careful he could end up creating a one-man pension mis-selling scandal.”

    David Smith, a director of wealth management firm TilneyBestinvest, said: “The big concern is that insurance companies are not going to provide any guidance at all on the tax implications of pension withdrawals.

    “If someone rings up to take their money out, it is vital they are given a warning.”

    Malcolm McLean, a pensions consultant at advisory firm, Barnett Waddingham, said: “There is evidence to suggest that the majority of savers don’t understand these reforms and think they can treat their funds like a bank account.