Unilever is cutting down production in Nigeria. The company has cited the country’s worsening economic condition for its move, which could now add to the woes of Africa’s biggest economy. Nigerians may soon bid goodbye to popular brands such as Sunlight, Omo, Closeup, LifeBuoy, Vaseline, Dove, or Knorr as Unilever Nigeria is exiting home care and skin cleansing, to simply remain profitable. In 2021, these products earned the company, which has operated in the country for around a century, more than half its revenues. The naira’s continued devaluation, a high rate of exchange for the US dollar, and a chronic…
Author: Elvis Eromosele
TN Nigeria’s board of directors have proposed a scrip dividend plan that will see the company’s shareholders convert their dividends into shares instead of cash. The telecommunications company wants shareholders to limit their demand for cash during dividend payments in order to increase MTN Nigeria’s liquidity. Dividends are often paid by cash through retained earnings or profit after tax. This leads to a decrease in the liquidity held by a firm and compels them to borrow from the capital market. MTN Nigeria said it needs to retain more cash to fund its working capital and other general corporate purposes. A…
Playwright: Olutayo Irantiola Publisher: Peo Davies Communications Year of Publication: 2022 Reviewer: Akeem Akinniyi Olutayo Irantiola’s The Okeho Exodus is a historical play set in 1916 but written in a modern-day language and filled with elements that will not alienate a reader in these present times. The play revisits the past of the descendants of Okeho who resettled among the hills along with ten villages to stem the tide of invasion by the Dahomey and Fulanis. What follows are intrigues of betrayal, and bastardisation of culture by colonialists which eventually leads to the tragic end of not only the king but the…
312 will be for Data Plan across networks 321 is for Share Services, 323 is for Data Plan Balance 996, is now for Verification of Subscriber Identity Module (SIM) Registration/NIN-SIM Linkage 2442, is retained for Do-Not-Disturb (DND) unsolicited messaging complaint management 3232, is retained for Porting Services, otherwise called Mobile Number Portability The Nigerian Communications Commission (NCC) has set May 17, 2023, as the deadline for all mobile networks to fully migrate from hitherto diverse shortcodes to harmonised codes. “The telecom regulator has “directed mobile network operators (MNOs) to commence implementation of approved harmonised shortcodes (HSC) for providing certain services…
BrandXchange, conveners of the 2023 Consumers Value Awards, have announced the commencement of nomination of brands eligible for voting. According to Akonte Ekine, Chief Analyst and Managing Director BrandXchange, the website for the nomination of brands of value in March in celebration of Consumer Rights day. We hope that consumers will contribute to the validation of brands’ efficacy by showing interest in the nomination of brands based on experience. To nominate brands, consumers should visit https://bit.ly/CVANominations The Consumer Value Awards is a Prestigious online periodic award aimed at creating awareness for the rights of Consumers and promoting brand excellence in…
The Edo Modular and Refinery Company Limited has ordered the supply of 150,000 barrels of crude to meet the demand of its growing clientele base, weeks after the commencement of production. Special Assistant on Media Projects to the Edo State Government, Crusoe Osagie, made this known in a statement on Sunday, reinforcing the project’s success at Ologbo in Ikpoba Okha Local Government Area (LGA) of the state. The statement said that the crude would be sourced from the Oza Oil Field, operated by Decklar Resources Inc and Millenium Oil and Gas Company Limited. The Edo Refinery, which is backed by…
By Elvis Eromosele Every day is public relations day. This is because the business of strategy and planning, communications and positioning never sleeps or stops. March 8, International Women’s Day, a day set aside to celebrate women, is a good time to recognize the role of women in public relations practice and the opportunity for growth. You would agree that public relations is an exciting and challenging field, one that offers a variety of opportunities for women to grow and thrive. It is equally engraced and enriched through the practice of women. While it is true that…
Elon Musk has regained his position as the richest person in the world after making a whopping $6.98 billion in eight hours of trading. He lost the title to French billionaire Bernard Arnault on December 8, 2022, following controversies surrounding his Twitter ownership, which led to a sell-off of Tesla shares and a decline in his wealth. Musk has made several attempts to regain the top spot, but fell short as Arnault’s wealth grew. However, on Monday, 27 February, the inevitable happened, the share price of his Telsa stocks increased by a whopping 100% after 8 hours of trading. This…
The number of connected telephone lines in Nigeria has reached 322 million with teledensity at 118.5 per cent following the activation of 3.6 million new Subscriber Identification Module (SIM) cards in January. This has equally resulted in active telephone lines in the country moving from 222.5 million in December 2022 to 226 million a month after. eledensity is telephone connections per 100 people in a specified geographic area. Teledensity is often used to compare the level of access to voice and data communications services between metropolitan and rural areas, or between one country and another. Subscription statistics from the Nigerian…
The Central Bank of Nigeria (CBN) has announced a revision of the tenure limit for executive management and non-executive directors of banks and financial institutions. According to the review, the executives can only serve a cumulative tenure of 20 years across the banking industry. In a circular addressed to all deposit money banks, signed by the director of financial policy and regulation department, Chibuzor Efobi, the bank said the review is part of measures aimed at strengthening governance practices in the banking industry. “The tenure of executive directors (ED), deputy managing directors (DMD) and managing directors (MDs) shall be in…