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DMO lists USD300m Diaspora Bond, USD3Bn Eurobonds on the NSE, FMDQ and OTC

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The Debt Management Office (DMO) will be listing the $300 million Diaspora Bond and $3 billion Eurobonds on the Nigerian Stock Exchange and Financial Market Dealers Quotation Over-the-Counter (FMDQ OTC) Securities Exchange respectively.

The Diaspora Bond, issued in June and the $3 billion Eurobonds, issued in November at the International Capital Market (ICM) will both be listed on Thursday, December 21, 2017.

Both offers were issued with significant features with the $300 million Diaspora Bond unveiled with five- year tenor and 5.625 per cent coupon. The Eurobonds issuances came in two tranches of $1.5 billion 10-year offer with 6.50 per cent coupon and another $1.5 billion 30-year offer priced at 7.625 per cent coupon.

According to the DMO, listing the $300 million Diaspora Bond and $3 billion Eurobonds on the NSE and FMDQ OTC will help increase the number and range of securities available in the domestic capital market. Such exercise, it added, would deepen the market and promote financial inclusion.

The exercise, it added, will give more visibility to the domestic debt capital market which will be beneficial for attracting capital from local and foreign investors.

Also, for the Eurobonds, which remains a sovereign security, the information it would provide such as coupon, yield and tenor will serve as benchmarks for corporates who may issue Eurobonds in the ICM.

The DMO expressed its commitment towards meeting the needs of its diverse group of investors as well as supporting the development of the domestic capital market.

It said the listing of the Diaspora Bond and the Eurobonds are examples of the various ways in which the it exercises its borrowing powers on behalf of the Federal Government of Nigeria to support the development of the domestic capital market and in particular.

The exercise, it added, would also create opportunities for the private sector to access long term funds in the domestic and international capital market.

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BUSINESS

Lagos set to host second Nigeria Beer Festival

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From Left to Right: Mr. Dele Balogun, Executive Secretary, Lagos State Film and Video Censors Board ;Mr. FolaAdeyemi, Permanent Secretary in the State Ministry of Tourism, Arts and Culture and Mr. Akinola Oluwaleimu, Chief Co-ordinator, Nigeria Beer Festival Group at the media interactive session on the festival in Lagos on Wednesday

After a successful and large participation of people at the first edition of the Nigeria Beer Festival which debuted last year in Lagos, the organiser the event has announced that Lagos will be hosting the second edition again.

The week-long event will hold on Thursday October 25th to Wednesday October 31st at the Eko Atlantic City, Bar Beach Water front Ahmadu Bello Way, Victoria Island, Lagos to give it a carnival-like atmosphere .

Speaking at a press conference to announce the event in Lagos on Wednesday, Mr. Fola Adeyemi, the Permanent Secretary in the State Ministry of Tourism, Arts and Culture explained that the festival is in line with government’s agenda to grow the tourism and economy of the state.

He stated that Lagos state is collaborating with beer brewers in the country and their counterparts across the globe to stimulate the economic and tourism potentials in the State.

He enjoined Lagosians to come out in their large numbers to enjoy the ambience of the festival, assuring that the city is safe for fun lovers because of the various infrastructure development by the state such as Light-up Lagos among others.

“Lagos is a city state and in league with great cities all over the world. We are actually moving the state to a 24 hour economy and this festival will be part of the beneficiaries. Lagos is safe for fun and business. We are joining the global tourism world to create impact on the economy of Lagos and Nigeria.” he said.

Also speaking at the event, Akinola Oluwaleimu, General Manager of On and One Events Limited, the organisers of the festival informed that the festival is to promote culture, tourism, friendship and for beer brands to connect with their consumers.

He added that the festival, will promote responsible drinking among drinking-age (18 +) consumers at all its touch points.

According to him, the event, since it debuted last year, has seen Nigeria enrolled into the league of Beer Festivals around the world, and boost the country’s tourism opportunities.

“It will be a gathering of the largest community of beer consumers from across the country and beyond.This year’s edition will be bigger, better and “beertiful”, he said.

He revealed that the 2017 edition attracted over ten thousand beer enthusiasts and consequently the Festival has proven to become a major international tourist event in Nigeria with a potential to compete with other international beer festivals around the world.

“Nigeria Beer Festival will be a carnival week of entertainment, sales and marketing and a gathering of the largest community of beer consumers from across the country to bond and ‘beer’,” Oluwaleimu assured.

He added that the Nigeria Beer Festival will provide a fitting ambience to showcase culture and lifestyle in a carnival atmosphere with various beer brands and other alcoholic drinks in Nigeria connecting with their existing and potential consumers.

Oluwaleimu maintained that the festival, which will commence 4 p.m daily is a big opportunity for major breweries to exhibit and deliver various offerings of beer brands to the teeming consumers to strengthen brand relationship with them. “The timing promises an after work relaxation environment to bond with friends and associates, he said”

He also acknowledged the support of the Lagos State government through His Excellency, Governor Akinwunmi Ambode who found the private driven initiative worthy enough of its endorsement and providing necessary logistics support in security, health, safety and publicity to ensure a hitch free event.

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Transcorp appoints new management team

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Transnational Corporation of Nigeria Plc (Transcorp), has announced new appointments into its board and executive management. The company in a statement Tuesday said Valentine Ozigbo, has been appointed as its President/CEO with effect from January 1, 2019. He will succeed Adim Jibunoh, who is retiring on December 31.

The statement said Mr Ozigbo, currently the MD/CEO of Transcorp Hotels Plc, owner of the prestigious Transcorp Hilton Abuja, will bring over 20 years’ experience in banking, business development, hospitality and corporate transformation. ‘‘A multiple award winner, Mr Ozigbo holds an M.Sc. Finance from Lancaster University, UK; an MBA in Banking & Finance and a B.Sc. in Accounting from the University of Nigeria. He is a Fellow of the Institute of Chartered Accountants of Nigeria.

‘‘Similarly, Owen Omogiafo has been appointed as the MD/CEO of Transcorp Hotels Plc effective from January 1, 2019. She is currently the Executive Director, Corporate Services at Transnational Corporation of Nigeria Plc,” the statement added.

Also according to the statement, Mrs Omogiafo has over 18 years’ corporate experience in organisational development strategy, human capital management, banking, change and business management. The Board of Transcorp also approved the appointments of Obi Ibekwe and Toyin Sanni as Non-Executive Directors, following the retirement of Kayode Fasola and Abdulqadir Bello.

These appointments are effective October 30, 2018. ‘‘While Ms Sanni was Group Chief Executive Officer at United Capital Plc , a position she retired from in June., Ms Ibekwe holds a Bachelor of Arts degree in International Relations from Tufts University, Medford, Massachusetts, U.S.A., a Bachelor of Law degree from the University of Lagos and an MBA degree from the Ross School of Business, University of Michigan, U.S.A. She has over two decades experience in banking, holding senior executive and senior management positions spanning credit and marketing, credit risk management, human resources and customer service,” the statement read in part.

The company also announced the appointment of Emmanuel Nnorom as the Chairman of its Board, following the retirement of Mr Bello. Speaking on these appointments, the Chairman of Transcorp, Tony Elumelu, reportedly expressed his confidence that the newly appointed chief executives and non-executive directors will further strengthen Transcorp’s core purpose of improving lives across Nigeria.

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Diamond Bank launches Visa Signature Debit Card

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Diamond Bank Plc has launched Visa Signature Debit Card, which is designed specifically for affluent clients. The bank in a statement issued at the weekend, said the product is a unique naira debit card designed to provide customers exceptional spending power and exclusive privileges.

According to Diamond Bank, the new debit card gives affluent customers the opportunity to have wider and richer experiences when they relax or travel, home and abroad.

Head, Consumer Banking, Diamond Bank, Karimot Tukur, said “our customers told us that they want more travel benefits, greater peace of mind and something a lot more rewarding than they get from an everyday current account.”

She said with the Diamond Visa Signature Debit card, together with Xclusive Plus, customers get access to over 800 airport lounges around the world, VIP treatment at top hotels and complimentary worldwide travel insurance for trips paid for on the card.

Adding that the insurance is even valid for foreign visa applications, Tukur added “our customers also get great entertainment benefits closer to home, including complementary event tickets through the year and free cinema tickets.”

Diamond Bank is one of the fastest growing retail banks. Through innovation and technology, Diamond Bank enhances customer experiences and drives financial inclusion in what is known as ‘Beyond Banking’.

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