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Diamond Bank, Facebook partner to train over 20,000 SMEs

Diamond Bank Plc enters partnership with Facebook.

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Diamond Bank's merger with Acess Bank

In a move to aid Small and Medium Scale Enterprises (SMEs) ease of doing business through digital presence, Diamond Bank Plc, one of Nigeria’s fastest growing retail bank, has partnered with Facebook, an American online social media and social networking service company.

The commercial bank is partnering with the social media network in order to train over 20,000 SMEs in Nigeria. With the over two billion people on Facebook, the training would enable participants to showcase their products, as well as, get links that will take their businesses far and wide.

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The Bank’s Head of Regional Businesses South, Nkem Okoro, said the bank is leveraging on technology to boost SME businesses. The idea behind the partnership, according to Okoro, is to give Diamond Bank’s SME customers the platform to merge their business with their Facebook accounts.

The training is being anchored by SheLeads Africa, a representative of Facebook.

Diamond Bank’s head of Emerging Businesses (SME Banking), Ayodele Olojede also said

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“What we are doing today is to create online visibility and teach them how to monetise that visibility. Just by being on Facebook, you can increase your sales by over 33 percent and a lot of women are not aware of this. Facebook is already a market for 26 million Nigerians and yet business owners are not aware. So, if you are not online, you are missing the opportunity to be able to scale up your businesses. That is the reason for this training.”

The bank had released its Results for the half year ended June 2018, showing gross earnings increased from ₦97.9 billion in 2017 to ₦98.5 billion in 2018.

However, profit before tax was ₦2.9 billion for the period ended June 2018, a 69% decrease compared to a profit of ₦9.5 billion reported for the period ended June 2017.

The company’s profit after tax also dipped to ₦1.80 billion in 2018, a 78% decrease compared to a profit of ₦8.02 billion recorded in H1 2017.

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Diamond Bank was trading at N1.23 as at the last trading session on the Nigerian Stock Exchange (NSE).

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Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Energy

FG approves new board for NLNG, BGT

The change was necessary because the current board members had been in office since 2005.

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Federal Government has approved the newly reconstituted boards of Nigeria Liquified Natural Gas(NLNG) and Bonny Gas Transport Limited (BGT).

This was disclosed in a statement issued by the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja on Monday.

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According to him, the new board, which was approved by President Muhammadu Buhari, was necessary because the current board members had been in office since 2005.

He disclosed that the new board members for the NLNG include Dr Edmund Daukoru as Chaiman, Mr Henry lkem-Obih as a Member and Dr Rabiu Sulaiman as a Member.

Other Members include the Group Managing Director of the Nigerian National Corporation (NNPC), Malam Mele Kyari and the Permanent Secretary, Ministry of Petroleum Resources, Mr Bitrus Nabasu.

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He also said that Daukoru was also approved as the President of the Board of BGT while Doyin Akinyanju and Abdul Abba are members.

The minister noted that Kyari and Nabasu were also members of the board.

“I will like to use this opportunity to thank the chairman and other outgoing board members of NLNG for steering the companies to record successes, particularly the Train 7 FID.

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“l wish the exiting members good health and more successes in their future endeavors.

“To the incoming members of the board, I congratulate you on this appointment; your selection is based on your experience, integrity and expertise.

“I, therefore,urge you to bring all these to bear in the discharge of your responsibilities in line with the progressive agenda of Mr President,” he said.

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The News Agency of Nigeria(NAN) reports that some of the new board members had worked in the industry in the past.

Daukoru was a former Minister of State for Energy and also Secretary General of the Organisation of the Petroleum Exporting Countries in 2006.

He became the Amayanabo, or traditional ruler, of Nembe Kingdom in 2008.

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Also, Ikem-Obih was a former Chief Operating Officer, Downstream of the NNPC and Rabiu a former Group Executive Director at the corporation.

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Hospitality & Travel

Passengers can now arrive 90 minutes before departure for domestic flights – FG

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international passengers, Coronavirus: FG enforces immediate screening of travellers at airports with new directive

The Federal Government has announced the reduction of arrival time for passengers from three hours to one hour and a half before departure for domestic flights.

This was disclosed in a tweet post by the Minister for Aviation, Hadi Sirika, through his Twitter handle on Monday, July 13, 2020.

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The minister said that the decision was arrived at after they have reviewed passenger facilitation at the airport while noting that passengers should check-in online.

In the tweet post, Sirika said, ‘’My colleagues and I have reviewed passenger facilitation at our airports, consequently I am happy to announce that, henceforth travellers are to arrive one hour and half before their departure time for domestic flights. Travellers are advised to check-in online, please.’’

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It can be recalled that the Federal Airports Authority of Nigeria (FAAN) had earlier in June issued flight resumption protocol for both international and local passengers across the country, advising passengers to arrive at the airport three hours before their time due to the new COVID-19 safety checks for domestic flight operations and five hours for international flight operations.

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Economy & Politics

Seyi Makinde Proposes N3 billion investment plan for water supply

The local governments in Oyo are advised to submit a list of 10 faulty boreholes in the LG. 

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Seyi Makinde Proposes N3 Billion plan for water supply

The Governor of Oyo State, Seyi Makinde announced the proposal of a N3 billion investment plan dedicated to water supply in rural and urban areas of the state.

Speaking through the Chairman of Rural Water Supply and Sanitation Agency (RUWASSA), Mr. Najeem Omirinde in Ibadan on Monday, he added that N500 million of the N3 billion would be used for repairing broken and faulty state-owned boreholes.

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All Chairmen of each of the Local Governments in Oyo are advised to submit a list of 10 faulty boreholes in the Local governments.

The Oyo State governor also ordered that all new boreholes must be compliant with solar-powered pumps, to enable their longevity and save costs.

Urging residents to patronize the agency if they need to dig up boreholes for water, citing that it would be cheaper if done through the state agency than with private drilling companies.

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Minister of Finance, Zainab Ahmed stated last year that Nigeria needs an estimated N36 trillion annually for the next 30 years to solve Nigeria’s infrastructure problem. The investment, although a tiny fraction of what Nigeria needs is a bold step by the Oyo State government.

 

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