The Nation Newspaper

Tag: launches

  • CBN launches new payment system

    CBN launches new payment system

    The Central Bank of Nigeria (CBN) launched yesterday a new Real-Time Gross Settlement (RTGS) system, integrated with a Scripless Securities Settlement System (SSSS).

    Outgoing CBN Deputy Governor, Operations, Mr Tunde Lemo, who broke the news, said the new RTGS replaces the one that was implemented seven years ago as part of the then CBN transformation programme code-named Project EAGLES.

    According to him, the SSSS, is a new initiative to issue, manage and settle government and other money-market securities processed as electronic records in a Central Securities Depository (CSD) system.

    He described the RTGS as an interbank payment infrastructure that facilitates the real-time settlement of electronic funds transfers on gross, final and irrevocable basis.

    Though no minimum or maximum transferable amount has been set, the new RTGS is built on the SWIFT messaging standards to allow for safer, easier and faster interconnectivity with other payment system infrastructure, locally and internationally.

    Lemo said the CBN is still discussing with market operators to determine the amount to be transferred since very large amounts will be involved in the new RTGS.

    “RTGS serves as the nucleus of the national payment system, as all payments finally settle in central bank money, through settlement accounts maintained for designated financial institutions,” he said.

    All retail payments (cheques, cards, mobile money, funds transfers and ATMs, among others) cleared by the Nigerian Interbank Settlement System (NIBSS) and the net settlement positions of the settlement financial institutions will be posted to the RTGS.

    He said: “Large-value payments are however settled individually (gross) as they arise, in real-time, irrevocably. This large-value settlement capability is particularly useful for interbank and government transactions.”

    He said the SSSS, on the other hand, facilitates the electronic management of the entire life cycle of securities’ transactions, adding that it manages the primary and secondary markets for the securities to facilitate efficient open market operations.

    “The SSSS centrally manages securities in selectronic (dematerialised) form and is configured to settle the security trade transactions on a gross basis, using the Delivery versus Payment (DvP) Model 1 process, where both the securities and the funds are simultaneously settled with finality on a trade-by-trade basis,” he said.

    According to Lemo, the SSSS is implemented for fixed income securities (treasury bills, development bonds and others), stressing that the integration and simultaneous deployment of the RTGS and SSSS is a major strategic move that will assist in radically reducing systemic risks associated with payment systems.

  • Reckitt Benckiser launches Dettol Re-energise

    RECKITT Benckiser, a market leader in the health, hygiene and home care products segment, has launched Dettol re-energise in Lagos.

    Its Managing Director, Mr. Rahul Murgai, said innovation has helped the company to build the Dettol franchise across markets, including Nigeria.

    He described the extension of the soap category as another “great innovation.”

    Murgai said the new soap is unique because of its citrus fragrance, long-lasting freshness and protection.

    “Innovation underlines the acceptability of our brands, including Dettol, which is now a household name in the health and hygiene segment, not only in Nigeria, but all over the world,’’ he said.

    The firm’s Marketing Manager (Personal Care), Mr. Ahmed Shah, said innovation, consumer engagement and research were three critical factors that could not be compromised in the market.

    He said Dettol Re-energise, which was another product of innovation and extensive research into consumers’ want and preference.

    “Our research has shown that consumers want a soap that has pleasant fragrance and ability to refresh them. This is why we have introduced a Dettol Soap variant with a pleasant long-lasting orange fragrance that refreshes and also gives them protection against germs,” he said.

    The Nigerian Medical Association (NMA) has also given its nod to Dettol Re-energise. The Chairman, Lagos State chapter, Dr. Francis Faduyile, while unveiling the new product, said Dettol was a heritage brand which the group was proud to associate with.

    Dettol has been in Nigeria in the past 50 years.

    According to a report, the brand has achieved 216 per cent growth in market share.

    Besides gaining market leadership, it has succeeded in building the biggest consumer direct contact programme in Nigeria. For example, through the Dettol New Mum initiative, the brand has reached 5.8 million mothers in 44 cities, which is close to six million mothers in five years. It has taught them good hygiene practices and educated them on what good hygiene does for them, their babies and their families.

    Furthermore, Dettol brand has also reached 3.5 million school children in three years by visiting 7,000 schools across Nigeria courtesy of its school hand hygiene programme, Good Health is in Our Hands.

  • GTBank launches GTExpress service

    Guaranty Trust Bank Plc has launched its “GTExpress” service, an agent banking service that allows customers access financial services at convenient locations. In a statement, the bank said the service would help it in achieving a more inclusive financial services industry.

    It said the GTExpress service is banking via agent locations such as Supermarkets, Schools, Cinemas, Markets and Restaurants and remains an initiative to reach out to the underserved and unbanked segments of the population through the use of non-banking retail outlets.

    It said the non-banking outlets (agent locations) will provide banking services such as account opening, cash deposit and withdrawal through Automated Teller Machines (ATMs), customer enquiries, bills payment, funds transfer services and other activities as the Central Bank of Nigeria may prescribe from time to time.

    Managing Director GTBank, Segun Agbaje said the unbanked sector of the economy presents a significant growth area for banks in emerging markets. “Our objective is to offer banking products and services to this segment via non-banking outlets thus breaking down barriers to financial inclusion such as accessibility and cost,” he said.

  • Ezeemo launches campaign today

    The Progressive Peoples Alliance (PPA) candidate in the November 16 governorship poll, Mr. Godwin Chukwunenye Ezeemo, will today at the All Saint’s field Onitsha unveil his blueprint for the Anambra State people during his campaign launch.

    In an interview with The Nation yesterday, he said: “I have a good programme for our people and I’m coming to render services of love. I will be sincere. If I say yes, it will be yes. And if I say no, it will be no.

    “I’ve told my family (I have one wife, two sons and a daughter) that I would not stay in London, enjoying the good things of life provided by another person. I told them that I would head for my home state, Anambra in Nigeria, to transform the place. This is why I’m running for this election.”

    Ezeemo said the amenity needed most in the state was electricity to boost industrial transformation and improve the living conditions of the people.

    According to him, besides reducing the cost of running the industries, thereby making goods cheaper, constant power would help families preserve their food items and ensure a conducive living.

    The PPA governorship candidate said his administration would offer free education from primary school to secondary school and that emphasis would be on technical and vocational education to ensure that unemployment was reduced.

    He promised to boost the health sector by not only building more health centres, but also employing more medical personnel and increasing their remunerations.

    Ezeemo pledged to promote sports, adding that his administration would revive school sports to discover talents at the grassroots.

    He said his government would fight insecurity by providing jobs for youths.

     

  • Agency launches new product

    Agency launches new product

    Compliance and Content Monitoring (CCM) Limited has introduced ‘CCM Ad.Vantage’ as part of its efforts to monitor all media stations in Nigeria.

    According to the agency, ‘CCM Ad.Vantage’ is an infrastructural upgrade of the company’s existing media monitoring capacity by an additional 100 stations in 14 locations in the country. It guarantees more reliable advert monitoring services in Nigeria. With ‘CCM Ad.Vantage’, the agency aspires to lead with innovative services such as this that promises to alleviate the pain of stakeholders in getting the right and timely information to take decision.

    Speaking at the unveiling of the product’s logo, the Managing Director and Chief Executive Officer of CCM Limited, Mr. Tunde Onadele said that CCM began operation three years ago with a wide coverage of 160 stations, comprising of 100 radio stations and 60 television stations. He said that with ‘CCM ad.vantage’ also known as ‘CCM260+’, the agency would be able to cover 260 stations which are about 75 percent of the number of television stations in the country. He said CCM is now well positioned as more reliable than other service providers in the industry.

    “Our promise is to lead on the information front. We are telling our customers that the company has upgraded from 160 to 260 within three years of operation. No other media monitoring company covers Nigeria like we do,” he added.

    Onadele said CCM’s superior media monitoring technology is able to provide more reliable and accurate media compliance reports to advertisers and agencies that are still struggling with challenges of station proliferation, audience fragmentation, unacceptable low compliance rates to media schedules, lack of audience data-driven and poor post-campaign analyses.

  • Osun launches N14.5b Oba Adesoji Aderemi Way

    Osun State Government at the weekend launched the N14.5 billion East Byepass road named after the former governor of the defunct Western Region and Ooni of Ife, the late Oba Adesoji Aderemi, in Osogbo.

    The road, awarded to a Nigerian-Turkish construction company, Messrs Slava Yeditepe, is expected to be completed in 12 months.

    The launch of the 18-kilometre road was attended by top government functionaries, including Governor Rauf Aregbesola, his deputy, Mrs. Grace Titi Laoye-Tomori, Secretary to the State Government, Alhaji Moshood Adeoti and the governor’s Chief of Staff, Alhaji Gboyega Oyetola.

    Others are the Deputy Speaker, House of Assembly, Mr. Akintunde Adegboye, the Head of Service, Mr. Sunday Owoeye, the Chairman, Action Congress of Nigeria (ACN) in Osun State, Elder Adebiyi Adelowo, members of the state Executive Council and traditional rulers.

    The Gbongan-Akoda dual carriage road, where work has started, was launched on June 10.

    Aregbesola said the preoccupation of his administration was the improvement of the socio-economic, infrastructural development and the well-being of the people.

    He said: “This is why in the last two and a half years our government has attended to the modernisation of roads.”

    Aregbesola said road infrastructure is a crucial element of the development efforts of his administration to take the state to an enviable height.

    He said the road could be referred to as a circumferential highway starting from the roundabout on Iwo Road, passing through Ofatedo to Ataoja Grammar School, through Ilesa Road and ending at Osogbo Stadium Roundabout.

    “The project will feature building of new culverts, three bridges, concrete side drainage and retaining walls, pavement surface and marking, construction of railway underpass, building of interchange and provision of street light,” the governor added.

    According to him, bad roads have been the bane of development efforts, which explains why roads in the state have suffered neglect under previous administrations.

    Aregbesola said when considering what is lost as a result of bad roads in terms of human lives and material resources, it is better to imagine what the people will stand to gain if and when roads are put in a good shape.

    He said the cost-benefit analysis had been a major driving force behind the government’s commitment to modernising roads.

    His words: “The depth of our commitment to road transformation is evident in the fact that our state is now a massive road construction site. We are constructing, reconstructing and rehabilitating roads.

    “Our aim is to make Osun a state that will have one of the best and most modern road infrastructure in the country.

    “The East Bypass is a dual carriageway that will be built to meet high standard in modern road construction. It will be constructed with two asphaltic surface layers and 40mm binder with 30mm wearing.”

    The governor urged the construction company to meet the completion date and adhere to the specified standard.

    The Special Adviser to the Governor on Works and Transport, Sabitu Amuda, an engineer, said besides being a standard two-lane dual carriageway of 7.30m width, the road also has features, such as a walkway, lay-byes and bus stops, street light, road verges landscapes and traffic signs.

    Prince Aderohunmu Adesoji, on behalf of the family, thanked Aregbesola for immortalising his father. He described the project as unique, special and an historical landmark.

    Prince Adesoji hailed the governor for recognising the achievements of the late Sir Adesoji Aderemi in the then Western Region and Nigeria.

    Said he: “We thank the governor for taking this bold step. No government in the past 22 years has taken such step. That we still have leaders like Aregbesola, who remember heroes in this country, is amazing. His gesture will encourage more people to serve their state and country. We are appreciative of what he has done.”

    Mrs. Grace Omolori, who represented the Managing Director of Yeditepe, said the company was proud to be part of Aregbesola’s achievements.

    She promised speedy completion of the project, adding that the road would be built to world standard.

    According to her, by December the first phase of the road would be opened to users, adding that the August 2014 completion date would be met.

  • Group launches plant a million trees initiative

    The African Centre for Environmental Protection (ACEP) has launched its ”Plant a million trees 2020” initiative to commemorate World Environmental Day.

    Centre Director Mrs Kaine Chinwah said the tree planting will help restore depleted forests, sustain the environment and reduce the impact of climate change.

    She spoke at launching held at the Atrium auditorium in Port Harcourt, Rivers State.

    According to her, an average size tree produces enough oxygen in one year to keep a family of four breathing.

    Mrs Chinwah said trees are useful as they beautify the environment, help prevent desertification, mitigate climatic change and most importantly acts as air filters.

    She said no fewer than 400 trees have been planted by ACEP with the hope of raising the number through supports and contribution to one million or above by the end of 2020.

    The ACEP chief explained that the project will complement other sustainable development programmes, which she listed as community consulting/dialoguing, community led total sanitation (CLTS); and creation of sustainable environmental enterprise (SEE).

    She said the World Environmental Day, which was established by the United Nations (UN) General Assembly in 1972 to mark the opening of the Stockholm Conference on human environment, is very symbolic as it addresses environmental challenges in the society.

    The event was organised by ACEP and the Rivers State Environment Sanitation Authority (RSESA).

    The sole administrator of RSESA, Ade Adeogun, called for effective waste management.

    The gathering advocated prudence in food consumption and relaxation of trade restrictions for even access to adequate food by the disadvantaged societies.

  • Church launches pastor’s biography

    Dignitaries from all walks of life yesterday gathered for the launch of the biography of the National President of The Christ Apostolic Church, Pastor Gabriel Olutola.

    The event was part of a programmes organised by the church to mark the birthday of the cleric, who turned 80 yesterday.

    The ceremony also featured the inauguration of the Olanrewaju Oladele Olutola Foundation, a non-governmental organisation (NGO) dedicated to the memory of Olutola’s late wife.

    The biography, written by Mrs Nike Adesanya, a deaconess in the church, is entitled: Odyssey. It chronicles the pastor’s exploits in missionary work from childhood.

    Mrs Adesanya said the book was dedicated to Olutola, who has never departed from the vineyard of the lord since his birth.

    The biography has 228 pages that are divided into 15. It was reviewed by Eyiwumi Falaye, a professor of Fisheries and Horticulture at the University of Ibadan (UI), and Mr. Olusogo Odekunle, a lecturer of English Language at Osun State College of Education.

    Falaye described Olutola as a Christian giant and an encourager of faith, who is not easily provoked. He said the book illuminated the trying times and tribulations of the pastor during his youthful days.

    “Pastor Olutola is the only surviving child of his parents’ seven children. There was a time he was blind, but he has regained his sight. He was also afflicted with all sorts of illnesses, including smallpox. His faith in Christ made him to survive all the challenges,” Falaye said.

    He said Chapter 2 of the book records the cleric’s strong passion; details of his personal life are in Chapter 3 and his evangelical life, which spanned four decades, is chronicled in the Chapters 8 to 15.

    The academic said Olutola had never been overbearing in the administration of the church, adding that the progress of church members was the motivation of the pastor.

    According to him, the biography is a spiritual literature to be possessed and studied widely by faithful.

    Odekunle said the two-section book offers narratives of first and third persons, which also chronicles the unknown parts of Olutola’s youthful life.

    After the copies of the book were unveiled, the Chief Launcher, Mr Fred Odutola, launched it N200,000; individuals and organizations, such as Zenith Bank, bought copies of the biography.

    Pastor Olutola inaugurated the foundation, in which he is the grand patron. He said his late wife would be happy with the activities of the NGO.

    The Chairman of the occasion and National Secretary of The Apostolic Church, Pastor Bassey Duke, urged church to support Olutola’s evangelism. He quoted Ezra 10:4 to affirm his point.

    At the event were the daughters of the celebrant; Chairman, Board of Trustees of Samuel Adegboyega University, Prof Ebenezer Okebukola; the Vice-Chancellor of the institution, Prof Ben Aigboka; Executive Director of Finance, Vintage Press Limited, publishers of The Nation titles, Mr Ade Odunewu, as well as top members of the church.

  • Firm launches new products

    Firm launches new products

    ForexTime Ltd (FXTM) has announced the launch of seven new currency pairs for trading to enable traders to choose from a variety of options.

    The firm, in a statement, said the new currency pairs include exotic pairs, crosses with the Swiss Franc and crosses with the Australian Dollar, a major commodity currency.

    ForexTime gives its clients access to the global currency market and offers trading in forex, precious metals, commodities, shares and indices.

    Chief Executive Officer, ForexTime,Olga Rybalkina, said: “The new currency pairs include exotic currencies, such as the Turkish Lira, the Danish Krone, Norwegian Krone and Swedish Krone. These currencies tend to make quicker and larger movements than major currency pairs and it is this volatility that makes these pairs popular with experienced traders.”

    The firm said the currency pairs are USD/TRY (US dollar vs Turkish Lira);EUR/TRY (Euro vs Turkish Lira); AUD/DKK (Australian Dollar vs Danish Krone); AUD/NOK (Australian Dollar vs Norwegian Krone); AUD/SEK (Australian Dollar vs Swedish Krone); AUD/SGD (Australian Dollar vs Singapore Dollar); CHF/SGD (Swiss Franc vs Singapore Dollar).

  • BA launches Valentine offer

    British Airways has announced another special discount offer for its Nigerian customers travelling on its World Traveller (Economy), World Traveller Plus (Premium Economy) and Club World (Business) class customers travelling to the United Kingdom, and select destinations in Europe, North America and Canada.

    Known as ‘The Valentine Special Offer’ in celebration of this year’s Valentine’s Day, a statement explained that it affords British Airways Nigerian customers the opportunity to make fantastic savings while travelling on these cabins to London and select, European, United States and Canadian cities. But the passengers must hurry as the amazing fares are only valid for booking until February 15, 2013.

    Explaining the offer, Country Manager, British Airways/Iberia in Nigeria, Mr Kola Olayinka, said the new offer, which is valid for flights from Lagos or Abuja means the airline’s customers can travel from Abuja to London and select European destinations from just US$255 in the airline’s World Traveller or US$949 in World Traveller Plus, and Club World from just US$2,199. The European destinations include France, Germany, Belgium, Netherlands, Switzerland and Luxembourg.

    For those travelling to select US and Canadian cities, the fare starts from US$609 for World Traveller, US$1,549 for World Traveller Plus, and US$2,959 for Club World.