Banking
ADVAN Awards For Marketing Excellence Holds October 29
In line with its tradition of bolstering Nigeria’s marketing industry using innovative platforms, the Advertisers Association of Nigeria (ADVAN), the umbrella body for all advertisers in Nigeria is set again this year to bring together industry stakeholders and supporters to celebrate marketing teams that have made outstanding contributions to the industry. The event, which is the sixth edition of the awards, is billed to take place at the prestigious MUSON centre, Onikan, Lagos on October 29, 2016.
Just like previous editions, this year’s award is structured for the express purpose of highlighting the fundamental position marketing occupies in business and public sectors, besides celebrating outstanding marketing achievements across a range of industries.
According to David Okeme, ADVAN’s President, this award is part of ADVAN’s greater design to establish the marketing profession on a sustainable path to greatness. Okeme also feels this achievement could really be consolidated this year with the ADVAN Awards for Marketing Excellence now endorsed by the World Federation of Advertisers (WFA).
The President of ADVAN also revealed that two new categories have been introduced this year, as part of the goal to develop and set standards for all areas of the industry. The two categories are Public Sector Marketing and Marketing on a Shoestring budget.
The public sector marketing Awards category is to recognize the effective use of marketing elements, and delivery of the marketing strategy and communications programmes executed for/by public sector institutions.
For Marketing on a shoestring budget award, the goal is to recognise the maximisation of “limited budgets” in achieving impact and measurable results.
Okeme also revealed that the Awards Committee tasked with mandate of organizing a world class event is populated by seasoned marketing professionals led by the Marketing Director of Nigerian Breweries Plc, Franco Maria Maggi, who would also serve as Chairman of the 2016 ADVAN Awards.
He also spoke on the judging process and stated that it remains one of the most valuable assets of the awards. Okeme later named Ikechi Odigbo, Managing Director DDB Lagos and Vice President Association of Advertising Agencies of Nigeria (AAAN) as the Chairman of the Panel of Judges for the 2016 Awards.
His words on the judging process: “all entries are put through a thorough and transparent judging process, so our judges must be leaders of industry, from the various stakeholder groups within the marketing communications value chain”.
Still commenting on the event, David Okeme said, “Akin to previous years, ADVAN would be preparing for this year’s event with the passion to highlight the fundamental position marketing occupies in our business and public sectors.
“As the umbrella body for marketing professionals, we strive to maintain, develop and set standards for the marketing industry. Despite the seemingly chaotic economic space, we promise to make the Awards a night of glamour and excitement. Plans are in full gear to ensure a very memorable event.
“Given that the Award planning team is a combination of the nation’s most creative and articulate minds, it is assured that the ADVAN Awards Ceremony will be one of the most celebrated events of 2016.”
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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