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Iflix Lures Nigerians with Exciting, Affordable Packages

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Iflix Lures Nigerians with Exciting, Affordable Packages

By Modupe Gbadeyanka

One of the world’s leading Subscription Video on Demand (SVoD) service providers for emerging markets, iflix, has announced its entry into the Nigerian market.

The tech firm said its subscribers would enjoy variety of programmes on its platform aimed for their enjoyment.

Speaking in Lagos yesterday at the launch, Country Manager of Iflix Nigeria, Ms Ngozi Madueke-Dozie, noted that her company offers what other competitors already in the market do not give their subscribers.

“We are different and our customers are assured of getting quality services for their money. We have programmes ranging from sports, entertainment, shows for kids and several others; all below N800 per month,” Ms Madueke-Dozie told newsmen.

She disclosed that consumers can sign up for a one-month free trial via iflix’s website, www.iflix.com or by downloading the app to their phone or tablet from the Google Play or Apple App Store, giving them unlimited access to thousands of the world’s best TV shows, movies and more on every device they own, with no credit card required and no contractual  obligations.

Highlighting what each iflix subscription has, Ms Madueke-Dozie said it includes unlimited access to iflix’s vast library of thousands of first-run exclusive shows, award-winning TV series, blockbuster movies, popular local and regional content, children’s programs and much more; and access to iflix on up to 5 devices at once, including phones, tablets, laptops, desktops, TVs and other connected devices.

In addition, subscribers have the ability to download TV shows and movies to any phone, tablet or mobile device to binge-watch offline, when not connected to the Internet; and also share their iflix subscription with family or friends and watch shows on two different devices at the same time.

With over 220 studio and distributor partnerships, iflix offers subscribers the largest selection of iconic, critically acclaimed TV series and fan-favourite films both internationally and locally available in the region.

iflix’s growing library of exclusive, first run series includes supernatural drama Midnight Texas, this year’s smash hits ICE and Ransom, critically acclaimed Humans and top rated docu-series, Love & Hip Hop Atlanta, and many more, all available for the first time in Nigeria.

Amongst the hundreds of top shows now available on iflix are Suits, Big Bang Theory, Vikings, Top Gear, hugely popular series Mad Men, Bates Motel, Mr Robot, Fargo, The Flash, Being Mary Jane, Teen Wolf, Medici Masters of Florence, Luther and many more.

Additionally, iflix offers an incredible catalogue of kids content, including Peppa Pig, Dora the Explorer, Spongebob Squarepants, Yo Gabba Gabba and much more.

iflix subscribers can look forward to an extensive library of fan favourite Nigerian dramas and variety shows, such as Jenifa’s Diary, Grey Dawn, Flower Girl, Shuga, Weekend Gataway, Sun City and The Visit. Additionally, iflix members in Nigeria can enjoy some of the most successful Korean Dramas such as Goblin and Legend of the Blue Sea along with Regional hit series such as  High Rollers and Maseko Ties amongst others.

With more than five million members and five billion minutes streamed since launch, iflix has established itself as the clear market leader in video streaming. Now available to over one billion consumers across 18 territories throughout Asia, the Middle East and North Africa, and from today in Kenya, Ghana and Nigeria. iflix will continue to roll out its world-class service to key additional emerging markets in the coming months.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Economy

Stock Market Rebounds by 0.29% as GTCO, Others Enjoy Patronage

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stock market bull

By Dipo Olowookere

A 0.29 per cent growth was recorded by the Nigerian Exchange (NGX) Limited on Thursday on the back of renewed demand for stocks after the Central Bank of Nigeria (CBN) aggressively cut down the stop rate of treasury bills on Wednesday.

The disappointment resulted in investors looking for alternative investment instruments, and equities were the next point of call.

In the previous two trading sessions, the stock market was down, but it rebounded yesterday on the back of a fresh bargain-hunting, which consequently pushed the All-Share Index (ASI) higher by 153.31 points to 52,752.96 points from 52,599.65 points, and the market capitalisation increased by N83 billion to N28.733 trillion from N28.650 trillion.

According to data from the NGX, the banking and energy sectors appreciated by 1.58 per cent each, the insurance space rose by 1.01 per cent, and the consumer goods counter grew by 0.05 per cent, while the industrial goods index depreciated by 0.01 per cent.

During the session, investors traded 139.7 million shares worth N2.0 billion in 3,549 deals compared with the 119.8 million shares valued at N2.7 billion traded in 3,552 deals, indicating an increase in the trading volume by 16.61 per cent, a decline in the trading value by 25.93 per cent, and a drop in the number of deals by 0.08 per cent.

GTCO emerged as the most traded equity yesterday with the sale of 17.8 million units, followed by Access Holdings, which transacted 15.4 million units. Fidelity Bank exchanged 11.9 million shares, Mutual Benefits sold 6.9 million equities, and Dangote Sugar traded 6.7 million stocks.

The market breadth was positive on Thursday, with 25 price gainers and seven price losers, indicating a very strong investor sentiment.

Geregu Power gained 10.00 per cent to trade at N147.40, Coronation Insurance appreciated by 9.76 per cent to 45 Kobo, Chellarams improved by 9.70 per cent to N1.81, International Energy Insurance grew by 9.43 per cent to 58 Kobo, and Tripple Gee jumped by 9.09 per cent to 96 Kobo.

On the flip side, RT Briscoe lost 9.09 per cent to settle at 30 Kobo, Royal Exchange dropped 8.24 per cent to sell at 78 Kobo, Courteville depreciated by 7.84 per cent to 47 Kobo, Linkage Assurance fell by 4.00 per cent to 48 Kobo, and Transcorp shed 0.82 per cent to N1.21.

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Economy

Crude Oil Prices Up on Positive US, Chinese Data

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Crude Oil Prices

By Adedapo Adesanya

Crude oil prices rose more than 1 per cent on Thursday on expectations that global demand will strengthen following signals from the world’s top two economies: the United States and China.

Brent futures increased by $1.35 or 1.6 per cent to settle at $87.47 a barrel, while the US West Texas Intermediate (WTI) crude improved by 86 cents or 1.1 per cent to settle at $81.01 per barrel.

The US economy grew faster than expected in the fourth quarter, but a measure of domestic demand rose at its slowest pace in 2½ years, reflecting higher borrowing costs.

The country’s gross domestic product (GDP) increased at a 2.9 per cent annualized rate last quarter. The economy grew at a 3.2 per cent pace in the third quarter.

The Commerce Department’s advance fourth-quarter report on Thursday showed half of the boost to growth came from a sharp rise in inventory held by businesses, some of which is likely unwanted.

Consumer spending maintained a solid pace of growth, supported by consumption early in the fourth quarter. Retail sales weakened sharply in November and December, and business spending on equipment contracted last quarter, the data showed.

China has been easing stringent COVID-19 restrictions this month, with the country reopening borders for the first time in three years.

Analysts noted that China’s reopening is supporting demand prospects for oil.

Market participants are closely tracking the upcoming JMMC (Joint Ministerial Monitoring Committee) meeting of the Organisation of the Exporting Countries and its allies, OPEC+ and the European Union(EU) embargo on refined products.

The OPEC+ ministerial panel meeting on February 1 is likely to endorse the oil producer group’s current output levels, OPEC+ sources reportedly said.

Prior to this, the US Energy Information Administration (EIA) reported an oil inventory build of 500,000 barrels for the week to January 20.

That was short of forecasts for a 1 million barrel rise, though the EIA says crude stocks are at their highest since June 2021.

The latest change in inventories compared with two sizeable weekly builds—one of 8.4 million barrels for the second week of January and a 19-million-barrel one for the first week of the month.

At 448.5 million barrels, crude oil inventories in the United States are 3 per cent above the five-year average for this time of year.

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Economy

Jumia, Churches, POS Operators, Others Reject Old Naira Notes

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old Naira notes

By Dipo Olowookere

One of the leading e-commerce companies in Nigeria, Jumia, has announced that from Monday, January 30, 2023, it will no longer accept the old Naira notes as a form of payment for goods purchased on the platform.

In a message to its customers on Thursday, the company said this action followed the decision of the Central Bank of Nigeria (CBN) to stop the use of the N200, N500, and N1,000 for financial transactions in Nigeria from February 1, 2023.

On October 26, 2022, the governor of the CBN, Mr Godwin Emefiele, announced that the three denominations would be redesigned. The new banknotes were introduced into circulation on December 15, and Nigerians were asked to return the old notes on or before January 31, 2023.

In order not to miss the deadline, and with the central bank insisting that it would not extend the deadline, Jumia has said its customers have till Sunday to pay for its goods and services with the old notes.

“From Monday, January 30, 2023, Jumia Delivery Associates will not be able to accept the old notes of N200, N500, and N1,000 sequel to the directive by the Central Bank of Nigeria (CBN).

“Should you wish to pay by cash, our delivery associates will only accept the new series of notes.

“Alternatively, you can find details on how to prepay on Jumia using JumiaPay or call us if there are any further questions.

“We will communicate further in case of any change from the federal government or central bank,” the notice from the firm, which was seen by Business Post, stated.

Meanwhile, a few churches in Lagos have asked their members not to pay tithes and offerings with the old banknotes from Sunday, January 29, 2023, due to the CBN directive.

“In reference to CBN’s directive and policy on old Naira notes, we hereby appeal to members not to come to church starting from this Sunday with old Naira notes (200, 500 & 1000).

“Please kindly make your payments (tithes, offerings, project donations and other payments) in new Naira notes.

“You can as well make an online transfer to the designated accounts (check the flier for details).

“Please share this message with members that are not on this platform,” a message from one of the parishes of the Redeemed Christian Church of God (RCCG) said.

Also, checks by this reporter indicated that some POS operators have said they would no longer accept the old notes from their customers from Saturday, January 28, 2023.

“I will not accept cash deposits with the old notes from Saturday because I know the banks will be filled up next week with people who want to deposit their cash.

“This morning, I was at one of the banks to deposit the cash with me, but the crowd there scared me.

“The banks were still giving customers the old notes. I am just confused about the situation. We do not have the new notes. Almost all the ATM terminals in this area are not dispensing cash to customers,” a POS operator in the Egbeda area of Lagos, Mrs Modupe Adediran, told Business Post.

Similarly, a trader at Computer Village, Ikeja, Lagos, Mr Ikenna Okechukwu, informed this reporter that he has stopped accepting the old banknotes from his customers.

However, some commercial bus drivers in Lagos said they will still accept the old banknotes next week.

“I don’t have any issue with the money. I have a strong belief that the central bank will extend the deadline. The announcement will be made next week,” a danfo driver in Ikeja, who identified himself as Mr Tajudeen, said.

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