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Glo Presents Prizes To Ofala Promo Winners

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Globacom on Sunday, October 23, 2022, presented prizes to its subscribers who emerged winners in the special promotion organised by the company as part of its sponsorship of the 2022 Ofala Festival.

The winners received their prizes at Ime Obi, the palace of Obi of Onitsha, Igwe Alfred Nnaemeka Achebe, on the second day of Ofala celebration called Azu Ofala.

Among the lucky subscribers were Chuka Augustine Amene and Kelvin Tochukwu who drove home brand new tricycles, popularly called Keke.

It was “double blessing” for Amene whose wife was delivered of a baby girl earlier the same day.

“It has been a wonderful day for my family. My joy knows no bounds. My wife just put to bed this morning. Indeed, my new baby has brought me this blessing. Her name is Chimamanda (My God will not fail). Thanks to Globacom for this special gift”, the 32-year-old civil servant with the Anambra State Ministry of Justice declared.

For the second tricycle winner, Tochukwu, it was a dream come true. He told the audience that he had been praying for a Keke and that he had a dream a week ago that he won the vehicle in the Glo promo. “I believed that dream and proceeded to buy a handset from Glo to qualify for the promo. I told my family and friends that I would win and here I am today. I am a firm believer that one will achieve whatever one wants to achieve and works for it,” he stated.

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Other winners went home with industrial sewing machines and grinding machines.

Christopher Bobby, an Nnewi-based businessman; Emmanuel Joseph, a construction worker in Onitsha, and Trophy Ibeabuchi, a final year student of Computer Science at Chukwuemeka Odumegwu Ojukwu University were lucky winners of industrial sewing machine

Grinding machine winners included Ukamaka Orji, a third year student of Integrated Science at Federal College of Education, Umunze, Anambra State.

She said the gift came at a very opportune moment for her as it would empower her to earn money to support herself in school. It’s a dream come true, says tricycle winner at Glo-sponsored Ofala

37-year-old Onitsha-based transporter, Kelvin Tochukwu, who won a tricycle (Keke) in the special promotion packaged by Globacom as part of its sponsorship of the 2022 Ofala Festival says it is “a dream come true”.

Tochukwu who was presented his prize by Glo officials and Palace Chiefs at Ime Obi (Obi’s Palace) in Onitsha, Anambra State, on Sunday told the audience that he had been praying to own a Keke to start his own transport business. He said that he had a dream a week ago that he won the vehicle in the Glo promo.

“I believed that dream and proceeded to buy a handset from Glo to qualify for the promo. I told my family and friends that I would win and here I am today. I am a firm believer that one will achieve whatever one wants to achieve and works for it,” Tochukwu declared.

Chuka Augustine Amene, a 32-year-old civil servant with the Anambra State Ministry of Justice, also won a tricycle. It was a true case of “double blessing” for him as his wife had a baby girl earlier the same day.

“It has been a wonderful day for my family. My joy knows no bounds. My wife just put to bed this morning. Indeed, my new baby has brought me this blessing. Her name is Chimamanda (My God will not fail). Thanks to Globacom for this special gift”, he stated.

Globacom also presented other prizes such as industrial sewing machines and grinding machines to other winners in the promotion.

Christopher Bobby, an Nnewi-based businessman; Emmanuel Joseph, a construction worker in Onitsha, and Trophy Ibeabuchi, a final year student of Computer Science at Chukwuemeka Odumegwu Ojukwu University were lucky winners of industrial sewing machine.

Grinding machine winners included Ukamaka Orji, a third year student of Integrated Science at Federal College of Education, Umunze, Anambra State.

She said the gift came at a very opportune moment for her as it would empower her to earn money to support herself in school.

Excited Glo winners receive prizes in special Ofala Promo

As the 2022 Ofala Festival climaxed on Sunday in Onitsha, Anambra State, lucky winners in the special Glo customer reward promo designed for the yearly event went home with exciting prizes.

The Ime Obi, palace of Obi of Onitsha, Igwe Alfred Nnaemeka Achebe, on the second day of Ofala celebration called Azu Ofala was the venue of the impressive presentation ceremony.

Chuka Augustine Amene and Kelvin Tochukwu who both won tricycles, popularly called Keke, were full of gratitude to Globacom for empowering them through the promo.

Amene, a 32-year-old civil servant with the Anambra State Ministry of Justice whose wife was delivered of a baby girl earlier the same day said, “It has been a wonderful day for my family. My joy knows no bounds. My wife just put to bed this morning. Indeed, my new baby has brought me this blessing. Her name is Chimamanda (My God will not fail). Thanks to Globacom for this special gift”.

On his own part, the second tricycle winner, Tochukwu, explained that it was a dream come true for him as he had been praying for a Keke. He said he had a dream a week ago that he won the vehicle in the Glo promo adding, “I believed that dream and proceeded to buy a handset from Glo to qualify for the promo. I told my family and friends that I would win and here I am today. I am a firm believer that one will achieve whatever one wants to achieve and works for it.”

Winners of industrial sewing machines included Christopher Bobby, an Nnewi-based businessman; Emmanuel Joseph, a construction worker in Onitsha, and Trophy Ibeabuchi, a final year student of Computer Science at Chukwuemeka Odumegwu Ojukwu University.

Similarly, Ukamaka Orji, a third year student of Integrated Science at Federal College of Education, Umunze, Anambra State who won a grinding machine enthused that the prize would avail her the opportunity to set up a mill in support of her educational pursuit.

“It’s double blessing for me”, winner in Glo Ofala Promo says

A tricycle winner in the special customer-reward promo organized by Globacom, the main sponsor of Ofala Festival 2022, said the prize was a double blessing for him as his wife delivered a baby girl the same day of the presentation.

The Ime Obi, palace of Obi of Onitsha, Igwe Alfred Nnaemeka Achebe, on the second day of Ofala celebration called Azu Ofala was a beehive of activities as the winners received their prizes with glee.

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According to Chuka Augustine Amene, a 32-year-old civil servant with the Anambra State Ministry of Justice, “It has been a wonderful day for my family. My joy knows no bounds. My wife just put to bed this morning. Indeed, my new baby has brought me this blessing. Her name is Chimamanda (My God will not fail). Thanks to Globacom for this special gift”.

The second tricycle winner, Kevin Tochukwu, noted that the prize was a dream come true for him as he had prayed for a Keke. According to him, a dream which he had a week ago that he won a tricycle in the Glo promo propelled him to buy a new handset from Glo, “I believed that dream and proceeded to buy a handset from Glo to qualify for the promo. I told my family and friends that I would win and here I am today. I am a firm believer that one will achieve whatever one wants to achieve.”

Other lucky winners who received industrial sewing machines included Christopher Bobby, an Nnewi-based businessman; Emmanuel Joseph, a construction worker in Onitsha, and Trophy Ibeabuchi, a final year student of Computer Science at Chukwuemeka Odumegwu Ojukwu University.

In the same vein, Ukamaka Orji, a third year student of Integrated Science at Federal College of Education, Umunze, Anambra State, who received a grinding machine in the promo explained that the prize would serve as a source of sustenance for her as she continues her education in the university.

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CBN Sells Fresh Dollars To BDCs At N1,021/$

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The Central Bank of Nigeria (CBN) started fresh and direct sales of US dollars at N1,021 per dollar to Bureau De Change operators.

Nigeria’s apex bank disclosed this in a circular signed by its Director of Trade and Exchange Department Hassan Mahmud.

“We write to inform you of the sale of $10,000 by the Central Bank of Nigeria (CBN) to BDCs at the rate of N1,021/$1. The BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price,” the circular posted on its website read.

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“ALL eligible BDCs are therefore directed to commence payment of the Naira deposit to the underlisted CBN Naira Deposit Account Numbers from today, Monday, April 22, 2024, and submit confirmation of payment, with other necessary documentations, for disbursement of FX at the respective CBN Branches.”

CBN’s move is coming as the naira is recording a slight depreciation against the dollar after weeks of gains.

In late March, the bank also sold $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate of N1,251/$1.

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Like in the most recent sales, it warned BDCs against breaching terms of the dollar sales, vowing to sanction defaulters “including outright suspension from further participation in the sale”.

The fortunes of the naira have fallen sharply since President Bola Tinubu took over in May. Inflation figures have reached new highs and the cost of living hitting the rooftops.

Nigeria’s currency slid to about N1,900/$ some months ago at the parallel market. But in recent weeks, it has gained against the dollar.

The Nigerian authorities have also doubled down on their crackdown against cryptocurrency platform Binance and illegal BDCs.

On March 1, the CBN revoked the licences of 4,173 BDCs over compliance failures.

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JUST IN: FirstBank Gets New MD/CEO

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Olusegun Alebiosu has been appointed as the Acting Managing Director/Chief Executive Officer of First Bank of Nigeria Limited (FirstBank Group), effective April 2024.

Alebiosu steps into this pivotal role from his previous position as the Executive Director, Chief Risk Officer, and Executive Compliance Officer, a position he held since January 2022.

Alebiosu brings to the helm of FirstBank over 28 years of extensive experience in the banking and financial services industry. His expertise spans various domains including credit risk management, financial planning and control, corporate and commercial banking, agriculture financing, oil and gas, transportation, and project financing.

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Having embarked on his professional journey in 1991 with Oceanic Bank Plc. (now EcoBank Plc.), Alebiosu has held several notable positions in esteemed financial institutions.

Prior to joining FirstBank in 2016, he served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at the African Development Bank Group, and Group Head of Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

Alebiosu’s academic credentials further enrich his professional profile. He is an alumnus of the Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. Additionally, he obtained a Master’s degree in International Law and Diplomacy from the University of Lagos, as well as a Master’s degree in Development Studies from the London School of Economics and Political Science.

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A distinguished member of various professional bodies, including the Institute of Chartered Accountants (FCA), Nigeria Institute of Management (ANIM), and Chartered Institute of Bankers of Nigeria (CIBN), Alebiosu is renowned for his commitment to excellence and ethical practices in the banking sector.

Beyond his professional endeavors, Alebiosu is known for his passion for golf and adventure. He is happily married and a proud parent.

With Alebiosu’s appointment, FirstBank of Nigeria Limited anticipates continued growth and innovation under his leadership, reinforcing its position as a leading financial institution in Nigeria and beyond.

 

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CBN Gives New Directive On Lending In Real Estate

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The Central Bank of Nigeria, CBN, has released a new regulatory directive to enhance lending to the real sector of the Nigerian economy.

The directive, issued on April 17, 2024, with reference number BSD/DIR/PUB/LAB/017/005 and signed by the Acting Director of Banking Supervision, Adetona Adedeji, signifies a notable shift in the bank’s policy towards a more contractionary approach.

In line with the new measures, the CBN has reduced the loan-to-deposit ratio by 15 percentage points, down to 50 per cent.

This move aligns with the CBN’s current monetary tightening policies and reflects the increase in the Cash Reserve ratio rate for banks.

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The LDR is a metric used to evaluate a bank’s liquidity by comparing its total loans to its total deposits over the same period, expressed as a percentage.

An excessively high ratio may indicate insufficient liquidity to meet unexpected fund requirements.

All Deposit Money Banks are now mandated to adhere to this revised LDR.

The CBN has stated that average daily figures will be utilised to gauge compliance with this directive.

Furthermore, while DMBs are encouraged to maintain robust risk management practices in their lending activities, the CBN has committed to continuous monitoring of adherence and will adjust the LDR as necessary based on market developments.

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Adedeji has called on all banks to acknowledge these modifications and adjust their operations accordingly. He emphasised that this regulatory adjustment is anticipated to significantly influence the banking sector and the wider Nigerian economy.

The circular read in part, “Following a shift in the Bank’s policy stance towards a more contractionary approach, it is crucial to revise the loan-to-deposit ratio policy to conform with the CBN’s ongoing monetary tightening.

“Consequently, the CBN has decided to decrease the LDR by 15 percentage points to 50 per cent, proportionate to the rise in the CRR rate for banks.

“All DMBs must maintain this level, and it is advised that average daily figures will still be applied for compliance assessment.

“While DMBs are urged to sustain strong risk management practices concerning their lending operations, the CBN will persist in monitoring compliance, reviewing market developments, and making necessary adjustments to the LDR. Please be guided accordingly.”

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