Banking
Sosaco Nigeria Ltd Launches New Jago Gold Milk
By Modupe Gbadeyanka
On Saturday, September 3, 2016, Sosaco Nigeria Ltd launched the new Jago Gold Full Cream Instant Whole Milk Powder.
It also unveiled the new pack design for the Jago D’lite.
The ceremony, which took place at Sheraton Hotel, Ikeja, Lagos, was attended by several people in the industry.
The company said the launch was in line with its vision to thrill its consumers and provide them varieties of options to choose from.
The Jago Gold comes with key vital nutrients, vitamins and minerals that ensure strong and healthy growth.
Jago Gold is available in all popular pack sizes.
Made from fresh Cow’s milk with the goodness of full cream, the new Jago Gold Full Cream milk powder redefines both quality and taste, and this would make it an instant winner in the market place.
Its flagship brand, JagoD’lite, which is a top leading player of popular milk segment in Nigeria, is now showcased in a new, exciting and more appealing new pack design.
The company said it is part of its efforts to reposition the Jago brand in the minds of the consumers to retain their love and loyalty to the brand.
Speaking at the event, Chairman of Sosaco Nigeria Limited, Mr Francis Ogboro, explained that the new Jago Gold Full Cream Milk powder offering is an answer to the clarion call sounded by Jago’s loyal customers, and is a product of intense research and deep consumer understanding.
“With the introduction of new Jago Gold, Jago Milk now has an offering for all segments of the packaged milk powder industry and affords our beloved consumers an opportunity to experience full cream instant whole milk powder like never before,” he said.
Also speaking at the launch event was the Managing Director of Sosaco Nigeria Limited, Mr Shailesh Kumar, who asserted that Jago as a brand will continue to address the needs of its consumers who come from all segments.
He further added that one of the main aims of the brand is to continually find innovative ways of delivering the best to its consumers.
Mr Kumar said, “All our products are focused on all round nourishment and exceptional taste which is why they are fully fortified with Vitamin A, D3, contains essential Vitamins and Minerals to boost healthy growth.
“This is just another milestone towards our commitment to deliver a wide range of quality products to the consumers.”
He further revealed that many more quality products would be launched under the Jago umbrella in the nearest future.
Mr Kumar said that Jago milk products give its consumers a healthy start to the day, thus helping them to bring out their best in line with the new Jago brand tagline – ‘For the Winner in You’.
The thematic campaign for the new Jago Milk TVC tagged “Get Set Jago” was also premiered. The campaign aims to depict the brands’ vision to continually aid the consumers to put out their best and strengthen the winning mentality inherent in each one of us.
Jago Milk is distributed in Nigeria by Sosaco Nigeria Limited and packed at ultra-modern state of the art factories at Lagos and Sango Ota in Ogun State.
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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