Banking
Parents, Stakeholders Applaud Promasidor’s CFA Summer Camp
Parents of school pupils and young football talents in the country have applauded the efforts of Promasidor Nigeria Limited, makers of Cowbell Milk, Loya Milk and other food products, towards youth empowerment through sports in Nigeria.
They gave the commendation at the ongoing Cowbell Football Academy (CFA) 2016 Summer Camp, which holds at the Main Bowl of the National Stadium in Surulere, Lagos.
Mr Niyi Adekeye, a businessman and a parent, who have two kids attending the three-week summer camp, said Promasidor has been fantastic in the execution of the CFA Summer Camp for over 6 years that his kids have been registered with the Academy. ‘‘I can see the improvement in sporting activities in my kids. It has indeed widened their horizon to encapsulate both development in academics as well as extra-curricular activities during summer holidays like this which is of great importance to their physical and mental well-being,’’ he said.
He therefore called on Nigerian parents to enrol their kids in initiatives like this in order to help their physical development as well as curb idleness which could lead to societal vices during summer breaks.
Andrew Enahoro, Head, Legal & Public Relations, Promasidor Nigeria Limited said that from experience, we know that sports keeps children and youth out of trouble and mischief; it also discourages them from crime and social ills.’’ He revealed that this motive was amongst other reasons why Promasidor is championing such worthy causes in the society. ‘This will further help their development and ultimately add value to the nation’s sporting industry,’’ he stated.
He referenced the ongoing 2016 RIO OLYMPICS in Brazil which has engaged millions of youths around the world positively and enjoined more parents to key into the initiative to help their wards develop physical strength which adds to their mental and productive state of mind as well as produce great minds in societies.
‘Sports made me happy and kept me out of trouble, because whenever I was out of school during holidays, I engaged in sporting activities to develop my physical well-being,’ says Godwin Dudu-Orumen, Rector, Cowbell Football Academy.
Mr Dudu-Orumen, a lawyer, journalist and sports businessman revealed his motivation behind the academy. He lauded Promasidor for coming to his aid to bring the Academy to life; describing the gesture as ‘‘a remarkable contribution to the nation’s football.’’
Toyeeb Gidado Olakunle, who captained the Under-15 Team Nigeria in the 2014 Youth Olympics in Botswana, is also registered with the Academy and has this to say: ‘‘it has been an amazing journey so far with the academy. The Summer Camp helps us in so many ways apart from sporting development because we are being taught other things like leadership, that are of great value to our personal development.’’
Toyeeb expressed his heartfelt gratitude to Promasidor for championing the football cause which allows the grooming of players and future sportsmen. He said: “Promasidor has been very helpful to us by providing us with the sports kits and other tools required to make this Academy a huge success.”
The Cowbell Football Academy 2016 Summer Camp which holds for three weeks will end on Saturday, August 13th with a grand finale match between different divisions playing against each another. They will be rewarded with prizes, certificates of participation and Promasidor products.
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
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