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Neimeth Shareholders Meet to Approve Bonus Issue of One for 10

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Neimeth Pharmaceuticals

By Modupe Gbadeyanka

On Wednesday, February 6, 2019 at 12.00 noon, shareholders of Neimeth International Plc will gather in Lagos to give the firm’s board the needed authority to issue bonus issue of one for every 10 held.

The meeting is specifically fixed for the Oranmiyan Hall, Lagos Airport Hotel Limited, located on Obafemi Awolowo Way, Ikeja, Lagos. It is also the Annual General Meeting (AGM) of the company.

The board of the pharmaceutical firm had in 2018 proposed that the sum of N86,325,333.00 being part of the sum standing to the credit of share premium be capitalised and be used in paying in full 172,650,646 of the unissued ordinary shares in the capital of the company on behalf of shareholders. The bonus share will be in proportion of one new share for every 10 shares already held.

At the next month’s AGM, the shareholders will only be needed to pass a resolution to authorise this recommendation by the board.

Apart from this, the shareholders will also at the meeting receive report of the directors, statement of financial position of the company as at September 30, 2018 together with the statement of comprehensive income for the year ended on that date and the reports of the auditors and audit committee.

They will further be required to ratify appointment of director/re-elect directors, elect members of the audit committee and authorize the directors to fix the remuneration of the auditors for the ensuing financial year.

Last year, Neimeth recovered from loss in 2017 to a profit in 2018 by posting a revenue of N2.269 billion for the year ended September 30, 2018, up from N1.534 billion in 2017.

Also, cost of sale jumped from N604.670 million to N1.107 billion, while gross profit stood at N1.161 billion in 2018, as against N929 million in 2017.

Furthermore, finance cost fell from N84 million to N76 million, with the profit before tax (PBT) rising to N202 million from the loss before tax of N404 million in the previous year.

In addition, the company recorded a profit after tax of N184 million in 2018 against the N411 million loss declared in 2017.

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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Health

Binance Promises $250,000 for Ebola in DR Congo, Uganda

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Binance

By Aduragbemi Omiyale

The sum of $250,000 in humanitarian funding is to be provided by Binance to support the frontline response to the ongoing Ebola disease outbreak in the Democratic Republic of Congo (DRC) and Uganda.

The cryptocurrency exchange said the funds would be used to enable rapid response in high-risk and underserved areas, where access to healthcare infrastructure, protective resources, and timely public health information remains limited.

The money will be shared equally between the Uganda Red Cross Society and Doctors Without Borders / Médecins Sans Frontières (MSF), supporting urgent interventions in affected and high-risk communities.

Binance’s contribution will help strengthen emergency medical care and treatment, community awareness and prevention campaigns, contact tracing and containment support, and the provision of sanitation supplies and protective equipment for frontline workers.

By supporting both immediate response activities and preventative education, Binance aims to contribute to reducing transmission and strengthening community resilience.

“Communities across Africa continue to show extraordinary resilience in the face of complex challenges, but frontline responders should not have to face crises like this alone,” the co-chief executive of Binance, Mr Richard Teng, said.

“The teams working to contain the Ebola disease outbreak are delivering vital, life-saving support under incredibly difficult conditions.

“We are proud to support both the Uganda Red Cross Society and Doctors Without Borders as they work to protect vulnerable populations, strengthen local response efforts, and deliver urgent care where it is needed most,” he added.

Also commenting, the Secretary General for the Uganda Red Cross Society, Mr Robert Kwesiga, said, “Strong partnerships are essential during public health emergencies since we are not able to manage the outbreak alone.

“The support from Binance comes in so timely and handy, and will help us respond more rapidly, reach more at-risk communities, and reinforce the frontline services needed to help contain the outbreak and save lives.”

The MSF Emergency Programme Manager, Trish Newport, while speaking on the initiative, said, “The number of cases and deaths we are seeing in such a short timeframe, combined with the spread across several health zones and now across the border, is extremely concerning. In Ituri, many people already struggle to access healthcare and live with ongoing insecurity, making rapid action critical to prevent the outbreak from escalating further.”

Caused by the Bundibugyo virus, for which there is no approved vaccine or treatment, this Ebola disease outbreak has placed acute pressure on already fragile health systems in eastern DRC and the wider region.

Local authorities, international agencies, and humanitarian organisations are racing to contain it and protect affected communities.

Binance’s support is intended to reinforce these efforts at a critical moment. It reflects the company’s broader commitment to supporting communities across Africa through programmes focused on education, financial inclusion, digital skills development, and community empowerment.

In this case, Binance is extending that commitment to urgent humanitarian and public health needs by working alongside trusted organisations with deep frontline expertise.

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Health

Tinubu Sets up Ebola Task Force, Approves N10bn Emergency Funding

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ebola

By Adedapo Adesanya

President Bola Tinubu has approved the establishment of a Presidential Task Force on Ebola Virus Disease Preparedness and Emerging Public Health Threats and ordered the immediate release of N10 billion as emergency intervention funding.

According to a disclosure by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, the fund will strengthen the operational preparedness of the National Centre for Disease Control and Prevention (NCDC) and support critical national public health emergency response activities.

The team will be chaired by the Chief of Staff to the President, Mr Femi Gbajabiamila, with membership drawn from relevant Ministries, Departments and Agencies (MDAs) and state representatives.

The presidency noted that the approval followed a stakeholder meeting convened under the chairmanship of the Chief of Staff to review Nigeria’s preparedness and develop strategies against the possible importation of Ebola into the country.

Ebola has recently resurfaced in the Democratic Republic of Congo (DRC) and Uganda, both neighbouring countries.

Other key stakeholders at the meeting included representatives of the Ministry of Interior, the Federal Airports Authority of Nigeria (FAAN), the Nigeria Immigration Service (NIS), the Nigerian Civil Aviation Authority (NCAA), the Lagos State Government and others.

Mr Onanuga also disclosed that President Tinubu directed all states hosting international airports and international border corridors, as well as relevant MDAs, to submit their plans, funding requirements and intervention needs for consideration and coordinated implementation.

Additional measures to be implemented by the Task Force include the intensification of passenger screening at all international airports through enhanced temperature checks and crowd-control protocols; enhanced monitoring of passengers arriving through high-risk airline routes, including Air Uganda, Rwanda Air, Air Tanzania, Air Angola, Kenya Airways and Ethiopian Airlines; and the immediate activation of referral and isolation centres at the Lagos and Abuja international airports, with other airports to follow.

Other measures include the mandatory activation of QR code-based pre-arrival health declaration systems for passengers originating from or transiting through designated high-risk countries, as well as the disinfection of departure halls, cargoes, baggage areas and airport facilities as precautionary environmental measures.

The President also directed the advisory group to consult with security, diplomatic and aviation bodies on regulating flights from affected and designated high-risk countries.

The Task Force was further mandated to designate specific airports or terminals for high-risk flights to enable controlled screening and isolation procedures, and to consider adjusting flight schedules to minimise interaction between high-risk passengers and other travellers.

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Health

QPSI Offers Free Healthcare Services, Others to 500 Ajegunle Residents

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QPSI 500 Ajegunle Residents

By Modupe Gbadeyanka

Over 500 residents of Ajegunle in Lagos enjoyed free healthcare services, comprehensive health education, youth mentorship, and community engagement activities at a one-day event organised by Queens Palm Support Initiative (QPSI).

This is part of the organisation’s Reach 1000 Initiative, deliberately designed to address immediate healthcare needs and empower individuals with the knowledge, resources, and support required to live healthier, more productive, and dignified lives.

QPSI is a non-profit organisation established by Ms Sabrina Ozma dedicated to advancing community development, healthcare advocacy, youth empowerment, leadership education, and social impact interventions across Nigeria. Fou

At the Ajegunle programme held at Bola Ige Millennium School, Tolu Complex, participants received a comprehensive range of healthcare services facilitated by accredited medical professionals, including general medical consultations and health assessments, malaria screening, diagnosis and treatment, blood sugar testing and diabetes awareness, comprehensive eye examinations and vision assessments, as well as specialist neurosurgical consultations provided by medical experts from Dukes Neurosurgery and Specialist Hospital.

Also, Reals Pharmaceutical Limited provided and distributed antimalarial medications to beneficiaries, ensuring continuity of treatment and improved health outcomes beyond the day of the outreach.

Ms Ozma, while speaking at the event, said access to quality healthcare remains one of the most pressing challenges confronting underserved communities across Nigeria.

According to her, interventions such as the Reach 1000 Initiative are deliberately designed to close this gap, not only by addressing immediate healthcare needs but by empowering individuals with the knowledge, resources, and support required to live healthier, more productive, and dignified lives.

Beyond healthcare delivery, the initiative featured structured health education and awareness sessions focused on disease prevention and early symptom recognition, personal hygiene and sanitation best practices, nutrition and food safety, healthy lifestyle habits, and the importance of routine medical check-ups.

In addition, a media personality and youth advocate, Ms Blessing Lopez, led engaging conversations around personal growth, confidence, and purpose-driven living, while entertainer Larry J inspired participants through discussions on resilience, positive decision-making, and the importance of becoming active contributors to societal progress.

The programme also attracted notable participation from government institutions and civil society organisations, highlighting the importance of multi-sector collaboration in addressing community challenges.

The Executive Secretary of the Lagos State Domestic and Sexual Violence Agency (DSVA), Mrs Titilola Vivour-Adeniyi, engaged participants on safeguarding, protection against domestic and sexual violence, and the importance of building safer communities.

Further, representatives of the Cleen Foundation facilitated discussions on crime prevention, community security, and the role of young people in promoting civic responsibility and the rule of law, while the Crime Prevention Partnership (CPP) led discussions on community-led safety strategies and citizen participation in fostering safer neighbourhoods.

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