AfroMillionsLotto, a brand new lotto with a minimum jackpot close to a billion naira is to be launched in support of the Nigeria Professional Football League (NPFL) clubs by the League Management Company (LMC) in partnership with British-based Ofertas365.
The lotto, due to be live later this month, has jackpots larger than every lottery in Nigeria combined, and the biggest available anywhere in Africa!
All 20 NPFL clubs are to be branded with their own page on www.AfroMillionsLotto.com where people can buy tickets online for the twice-weekly draws, as well as enjoy a range of Instant Win games offering big-money prizes.
The benefit for the clubs is that each will receive a percentage of the revenue raised from their lottery site to increase income to fund player development, supporting stadium and pitch improvements as well as community-based projects.
LMC Chairman, Shehu Dikko described AfroMillionsLotto as one of the most exciting commercial developments in club football in Nigeria in recent times and suggested that it would positively impact football financing extensively.
Dikko said, “The LMC bought into this partnership because of its realistic potential to revolutionise our clubs’ commercial operations, thanks to the money lotto will bring in. Lotto has proven to be extremely successful with English Premier League clubs and we hope to replicate its success here in Nigeria.”
In his own comments, James Leppard, CEO of Ofertas365, said “We are delighted to work with Africa’s largest and most prestigious football league in launching AfroMillions Lotto, which will offer players, whether they are football fans or not, the ability to win truly life-changing jackpots.”
About Ofertas365 Limited:
Ofertas365 Limited helps football clubs and charities in Emerging Markets raise money through lotto. The UK company, headquartered in London, operates AfroMillions Lotto.
How it works
After selecting the football club of their choice and setting up an account on the AfroMillions Lotto website, anyone over the age of 18 can deposit money using their credit or debit card, e-wallet or cash voucher, which they will soon be able to purchase through various points-of-sale.
They then choose a line of six numbers ranging from 1 – 49 and an additional bonus number between 1 – 9 before buying a ticket costing €0.60 (approx. ₦220). The winning numbers are based on the twice-weekly German National Lottery draw, which can be viewed live on German television on Wednesday and Saturday evenings.
Jackpots and prizes will be displayed on the AfroMillionsLotto website, together with the prizes for correctly predicting 6, 5, 4, 3 and 2 matching numbers. The minimum jackpot starts at €2,500,000 (close to a ₦billion) and rolls over by €250,000 each time it’s not won until it reaches a maximum of €5,000,000.
The NPFL AfroMillionsLotto sells tickets and displays jackpots in Euros because it’s the currency of choice for the lottery industry. However, people pay to play in their local currency and when they win, they’ll withdraw money in their local currency too. By promoting AfroMillions Lotto in Euros, it can offer the biggest jackpots in Africa. It’s as simple as that.
Deap Capital Management & Trust Plc reacts to ‘rumoured’ AMCON takeover
AMCON had dragged the company before a Court in a bid to recover the debt.
Deap Capital Management & Trust Plc has reacted to media reports about the supposed takeover of its assets by the Asset Management Company of Nigeria, AMCON.
In a statement that was signed by the Company Secretary, Yetunde Fashesin-Sousa, Deap Capital admitted that it is indebted to AMCON to the tune of N1.6 billion. It was also confirmed that AMCON owns a 20% equity stake in the fund management firm.
Note that the indebtedness arose after AMCON took over ownership of certain banks. Apparently, these are banks that Deap Capital originally owed. However, following the transfer of the unnamed banks’ assets to AMCON, the debts were also transferred alongside.
Meanwhile, AMCON had dragged the company before the Federal High Court in Lagos in a bid to recover the debt. A ruling on the case, which was delivered on January 28 by the Hon Justice John Terhemba Tsoho, was in AMCON’s favour.
Following the ruling, AMCON began the process of recovering the debt from Deap Capital Management & Trust Plc. The company said it has been cooperating in this regard by working towards repaying the debt.
The company also clarified that the assets that were taken over by AMCON belonged to its former directors whose names were not mentioned. Nairametrics could not verify if these directors are among those who were recently reinstated by the Securities and Exchange Commission, SEC. But we do know that AMCON had obtained a court order to attach the ‘former directors’ assets’ in its attempt to recover the N1.6 billion debt.
In the meantime, Deap Capital Management & Trust Plc said it is committed to resolving its operational challenges, including the recovery of its operational license and profitability issues. The company’s latest earnings report (for its Q1 period ended December 31st, 2019) showed a total income of N1 billion. There was also a N6.3 million loss for the period under review.
Deap Capital’s stock opened today’s trading session on the Nigerian Stock Exchange with a share price of N0.30. Year to date, the stock has declined by some -18%.
Lafarge Africa Plc. announces its board meeting and closed period for Q2 2020
The notification which was duly signed by General Counsel & Company Secretary.
Lafarge Africa Plc. notified the Nigerian Stock Exchange and the investing public that he closed period will commence on Wednesday, 8th July 2020 until the unaudited financial statement for the second quarter ended 30th June 2020, is released to the Nigerian Stock Exchange.
In a disclosure on the Nigerian Stock Exchange, it wrote: “We hereby notify the Nigerian Stock Exchange and the investing public that a meeting of the Board of Directors of Lafarge Africa Plc has been scheduled to hold on Thursday, 23rd July 2020 to consider the second quarter financial results of the Company for the quarter ended 30th June 2020.”
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The notification which was duly signed by General Counsel & Company Secretary, Mrs. Adewunmi Alode explained further stating that “Accordingly, no Director, employee, persons discharging managerial responsibility and Advisers of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period.”
Over the past few months, it made a few board changes with the retirement of two of its Non-Executive Directors, as well as the appointment of three new Directors. It had also spun off its South African subsidiary, Lafarge South Africa Holdings (LSAH), last year.
Lafarge Africa’s Q1 2020 revenue was up 9.8% year-on-year to N63.7 billion, driven by higher Cement Sales (a figure up 11% year-on-year to N62.3 billion) which offset the weakness in Aggregate and Concrete (down 21% y/y to N1.4bn). Its EBITDA grew by 2.4% year-on-year to N19.3 billion as well. As at Tuesday the 7th of July, the share price of the company was N10.00.
AXA Mansard Insurance Plc gives notice of Annual General Meeting
The AGM will be live-streamed to enable shareholders and stakeholders participate.
Insurance firm, AXA Mansard Insurance Plc., has given notice of its board of its Annual General Meeting (AGM) scheduled for Wednesday, July 29, 2020, at 10:00 a.m.
The announcement which was disclosed by Nigerian Stock Exchange (NSE) in a corporate disclosure on July 7th, 2020 and signed by Company Secretary, Omowunmi Mabel Adewusi read, “Notice is hereby given that the twenty-eighth annual general meeting of AXA Mansard Insurance Plc. will hold at the Oriental Hotel, no. 3, Lekki Road, Victoria Island, Lagos on Wednesday, July 29, 2020, at 10:00 a.m.”
As noted, the purpose of the AGM is to transact the following business:
- To receive the Audited Financial Statements for the year ended December 31, 2019, and the Reports of the Directors, Auditors and Statutory Audit Committee thereon
- To authorise Directors to fix the remuneration of the Auditors
- To elect Directors and
- To elect members of the Statutory Audit Committee.
In order to ensure that all relevant stakeholders can be a part of the AGM, the company will also be streaming the AGM live. It noted that “This will enable shareholders and other stakeholders who will not be attending physically to follow the proceedings.”
The link for the live streaming of the Meeting will be made available on the Company’s website at www.axamansard.com.
Recall that a few months ago, in March, the company’s Board of Directors announced the appointment of John Dickson as the company’s new Non-Executive Director. A month earlier, it also disclosed its plan to sell its pension management subsidiary (AXA Mansard Pensions Ltd) and some undisclosed real estate investments.
Its unaudited financials for the period Q1 2020 reveal a growth across revenue and profit lines. Gross written premium grew by 21% from N17.4 billion earned in Q1 2019 to N21 billion in Q1 2020. Profit for the year for the group grew by a commendable 120% from N890 million in Q1 2019 to N1.9 billion in Q1 2020.
As at Tuesday, the 7th of July when markets closed, the share price of the company was N1.59. The company’s EPS stood at 0.33 while its price to book ratio stood at 0.6082.