In today’s world of business, good company websites have become important tools which are essential to have. Not only do they provide some credibility to businesses, they also serve as easy platforms through which customers can connect to companies and transact businesses.
In Nigeria, business owners who understand the immense benefits of good company websites are willing to spend millions of naira to get one. Unfortunately, not all Nigerian company websites are good.
For this week’s company focus on Nairametrics, we have decided to do something different. We are focusing on the thirty biggest companies on the Nigerian Stock Exchange (otherwise known as the NSE 30), examining and ranking their websites from worst to best. This is purely from a user’s perspective.
Note that some yardsticks were used to determine this ranking, the most important being site security. In other words, how safe is it to use these websites? Are customers exposed to risks when they transact businesses on the websites? Unfortunately, quite a number of the sites examined are not adequately secure, as you will see shortly.
We also considered other important factors, including how easy (or not) it is to use these websites. What is the user interface like? How fast (or otherwise) do these websites load Do users find it easy to navigate the sites for much-needed information? As a matter of fact, how strategic are corporate information located on the sites? Also, are the sites elegant to behold?
It is important to note that because Nairametrics is a business news website catering to a unique audience of stock market investors, we particularly considered the following pages of the websites-
- About the company
- Investor relations
- Names of the company’s Executives and Board members,
- Contact information
- News updates about the company’s activities.
Check out the ranking and share your thoughts (based on your experiences) on each of the sites that has been ranked. Enjoy.
30 – Dangote Sugar Plc
Dangote Sugar may know how to make its customers’ lives sweeter, but the company does not know how to own and maintain a good website. This is because it has the worst website out of all the thirty others ranked on this list.
As a user, you are bound to fear for your online safety the moment you visit the site. This is because the only thing you will see are warning signs telling you that “your connection is not private”. The website is not secure. You may take a quick look and flee fast: https://dangotesugar.com.ng/
29 – Diamond Bank Plc
Diamond Bank is one of Nigeria’s most prominent banks, which is why it is expected to have a really good business website. But does it?
Having taken the time to examine and reexamine this site, we discovered that while it has its good features, there are also some issues that can be fixed in order to ensure optimal performance. For instance, the website is undoubtedly a beautiful one. It also has the necessary information strategically located in accessible portals. In other words, the site has a relatively fair user interface.
However, the site can be better. As you may already know, speed and security are very important when it comes to internet usage. These are the things Diamond Bank need to improve on to have the ultimate business website. https://www.diamondbank.com/
28 – NASCON Plc
Much like Dangote Sugar Refinery, NASCON Plc does not have the best business website in Nigeria. This shows a pattern within the Dangote Group, whereby much attention is not given to websites as they ought to.
The truth is that this site could be better. In terms of security, improvements are needed. Aesthetically also, a lot more work can be done. The company should also consider optimising the site’s load speed and user interface. This is important because inasmuch as NASCON is one of the most capitalised corporate entities on the NSE, one thing it lacks is a good website. This needs to be resolved. http://www.nasconplc.com
27 – 11 Plc
11 Plc does not have the most beautiful business website in Nigeria. It is not the most functional site either. Security needs to be improved upon, and so is the site’s load speed. Other than those problems, the website is a relatively good one which users can easily navigate. Important information about the company is also well situated on the site. We rank it number 28 out of 30. http://11plc.com/
26 – Stanbic IBTC Holdings Plc
This company has one of the most elegant and user-friendly websites in Nigeria. But as we have established, aesthetics is not all there is to good websites. There are other factors such as security, which should be a priority seeing hackers could easily target internet users. Load speed is also important.
That said, the company should consider optimising the site in order to ensure greater user experience. http://www.stanbicibtc.com/
25 – International Breweries
This company’s website loads fast. A lot of information about its daily activities are also splashed across the entire site, which makes it easy for users to navigate it. However, more could be done to optimise the site’s speed. This will make it easier for customers to easily navigate it. http://www.internationalbreweriesplc.com/
24 – Dangote Cement Plc
This company’s website is not secure. This is, perhaps not surprising, seeing as its ‘siblings’ aren’t secure either. Dangote Cement can also do well to improve on the site’s speed. Other than these, the site looks amazing. http://www.dangotecement.com/
23 – Forte Oil
To a great extent, Forte Oil can be said to have a really good company website. Information such as contact details and corporate details of the company are easy to find. It is also one of the most beautiful websites in the country.
However, it can be better. The pages can be made to load faster, even as the site security can be worked upon. In any case, it is still one of the best. http://www.forteoilplc.com/
22 – Nigerian Breweries
Although the Nigerian Breweries’ website is not in the top-ten-best categories, it still is one of the best business sites in Nigeria. This is because it is beautiful and easy to use.
Yet, there are some improvements that may need to be made. For instance, visitors do not have to verify their age when they visit the site. It is not ‘coo’, despite the logic behind it. More so, this site’s load speed and security can be improved upon as well. Come to think of it, are you old enough to view this site? http://nbplc.com/
21 – Transcorp Plc
Transcorp Plc has one of the most simple yet relatively functional websites in Nigeria. Site security is good, even as important company information can be easily navigated. But the company can do more to improve the site, especially site speed which is in urgent need of optimisation. https://www.transcorpnigeria.com/
20 – Okomu Oil Palm Plc
Okomu Oil’s website is quite functional. Its key features such as corporate information are well laid out in a way that customers of the bank and investors alike can easily navigate it. However, the website can do with some improvements. There is a need to improve on its security and speed. http://okomunigeria.com/
19 – Presco Plc
This company’s website depicts the nature of its business model which is agriculture. It is relatively functional, and that is why it is ranked at number 19 on this list. Meanwhile, the company can do well to optimise the security of the site as well as the load speed. http://www.presco-plc.com/
18 – Nestle Nigeria Plc
This site is not fully protected. Its loading speed is relatively fair. Vital company information is also conspicuously located. However, the site is not so beautiful compared to the others. https://www.nestle-cwa.com/en
17 – Total Nigeria Plc
Total’s website is red and beautiful. But beyond the aesthetics, it is also a highly functional website. Loading speed is fast, and it is easy to navigate. Unfortunately, it is not a secure site, something the company should consider optimising. http://www.total.com.ng/
16 – Julius Berger
Julius Berger’s website is secure, load speed is fast and very easy to navigate. But it is also too simple, to the extent that it can be mistaken for a private blog. We think the website can do with some lively colours and overall improved aesthetics. https://www.julius-berger.com/
15 – Dangote Flour Mills Plc
This is a pleasant surprise because this is the only Dangote website that is secure. The user interface is also relatively good. We are pleased and hope you are too! Take a look: https://dangote.com/our-businesses/
14 – Union Bank Plc
Union Bank’s load speed is fast. The user interface is also relatively good. But the site is rather too simple for a bank of this calibre. https://www.unionbankng.com/
13 – Fidelity Bank Plc
This bank’s website looks amazing. It is also functional and secure. We sincerely like it, but there are others better than it; therefore, it is number 13 on our list. https://www.fidelitybank.ng/
12 – PZ Cussons Nigeria Plc
This website is secure and fast-loading. Some vital information about the company is also well-positioned in the right places. It does not, however, have a chatbot. https://www.pzcussons.com.ng/
11 – Ecobank Plc
Ecobank Plc has a good-looking website which is also safe to use. The load speed is fair, and the user interface is okay. There is a live chatbot that can assist visitors with information while using the website. Take a look- https://www.ecobank.com/ng/personal-banking
10 – Unilever Nigeria Plc
We decided to rank Unilever Nigeria Plc’s website at number ten because it is simple, yet loaded. The site is very easy to navigate. Most importantly, anybody using it can be assured of their internet safety. https://www.unilevernigeria.com/
9 – Guinness Nigeria Plc
Guinness’ website is secure, colourful, informative and easy to use. We love how the images of the company’s products are splashed all over the site. User experience is also good. You can see more about the reason why we like it- https://www.guinness-nigeria.com/
8 – Seplat Petroleum Development Company Plc
It is not surprising that Seplat Petroleum has a perfect business website. After all, it is a perfect business. The site’s load speed is good, and so is the user interface. The website is also safe to use. See why we love it here- https://seplatpetroleum.com/
7 – Flour Mills Nigeria Plc
Flour Mill’s company website is a good one, and that is why we have ranked it at number nine. Some of the features that make it stand out include its high functionality and its great user experience. The website is also secure such that people can use it without fear of exposing their online details to hackers. https://fmnplc.com/
6 – Access Bank Plc
Access Bank’s website is definitely one of the best in Nigeria. It is not only beautiful to behold and safe to use but also easy to use. A perfect business website indeed! Take a look at why we love it- https://www.accessbankplc.com/
5 – FBN Holdings Plc
This is a good website, with all the necessary features and adequate speed. First Bank recently upgraded this website, which explains its improved functionality. However, the company may need to consider integrating a chatbot to this site. https://www.fbnholdings.com/
4 – Zenith Bank Plc
Zenith Bank has a fantastic website with a good user interface and security to guaranty safety. The site is also very well branded and elegant to behold. We just love everything about the site. See why here- https://www.zenithbank.com/
3 – Lafarge Africa Plc
Lafarge Africa does not only understand the importance of building houses with good cement, but they also understand the need for a perfect business website. Little wonder their website is so ‘green’ and beautiful. You could just stare at it for the rest of your life!
Asides the beauty, the site is also highly functional. The user interface is wonderful, and the load speed, fantastic. Above all, you can be assured of your security when you use this website. https://www.lafarge.com.ng/
2 – Guaranty Trust Bank Plc
It is a known fact that GTBank sets the pace and holds the ace when it comes to internet banking. It is, therefore, not surprising that the company has one of the best websites in the country.
The site is very elegant, functional and safe to use. It loads fast and navigation is easy. You can see for yourself why it is number one: https://www.gtbank.com/
1 – United Bank for Africa (UBA)
Without a doubt, UBA has one of the most functional websites in Nigeria. As a matter of fact, it is the best according to our ranking. This is a well-deserved position.
The website was recently upgraded, making it not just very aesthetic, but also highly functional and secure. More so, there is LEO, the chatbot, which assists you with whatever form of assistance you may need. Talk about the ultimate business website! https://www.ubagroup.com/countries/ng
It should be noted, however, that virtually all the thirty companies ranked here are guilty of not making good use of the blogs on their websites for information dissemination. This is unacceptable. It is important that they make good use of their blogs because they are great tools for public relations.
First Bank’s board replacement won’t affect profitability – Fitch
CBN’s remedial actions will not have a material effect on the group’s asset quality, profitability and capitalisation.
Fitch Ratings has affirmed that the recent First Bank board replacement will not affect the bank’s profitability and asset quality, as it rates the bank at B- with a negative outlook.
This was disclosed by the rating firm via a statement seen by Nairametrics.
According to the rating firm, the development reflects its view that the impact of the Central Bank of Nigeria’s replacement of FBNH and FBN Ltd boards, the identification of corporate governance failings and the imposition of corrective measures are tolerable at the rating level.
What Fitch is saying
It stated, “We have assessed the near-term financial impact of these actions on FBNH and FBN and believe this is tolerable at the rating level, even though the final outcome is uncertain. In our view, any remedial actions imposed by the CBN, including a potential reclassification of related-party exposures as impaired, will not have a material effect on the group’s asset quality, profitability and capitalisation.
However, this does not consider any possible additional actions by the CBN, especially if FBN fails to implement the regulator’s corrective measures or if there were any further uncovering of corporate governance irregularities.
The Outlook remains Negative, reflecting FBNH’s pre-existing asset quality and capitalisation weaknesses as well as the group’s corporate governance weaknesses highlighted by the CBN. These could put pressure on the ratings.”
What drives First Bank’s rating
FBNH is the non-operating holding company that owns FBN. FBNH’s ratings are aligned with those of FBN (which represents around 90% of consolidated group assets) due to high capital and liquidity fungibility within the group, and low double leverage (at 95% at end-1H20) at the holding company level.
It added that FBNH’s IDR is driven by its intrinsic creditworthiness, as defined by its ‘b-‘ Viability Rating (VR). The rating, according to Fitch, considers the group’s exposure to Nigeria’s volatile operating environment and also factors in vulnerability in its capital position in the context of moderate earnings generation and asset-quality pressures, where headroom above the minimum regulatory capital requirements is also moderate. Capitalisation is a factor of high importance to VR.
“The new boards appointed to FBNH and FBN comprise individuals with sufficient experience and expertise. However, we view such major change as hugely disruptive. There are no changes in FBNH and FBN’s executive management team.
“We believe the governance shortcomings cited by the CBN reflect poorly on FBNH’s reputation and on the group’s governance and control practices. As a result, we have revised down our assessment of FBNH’s Management and Strategy score to ‘b-‘ from ‘b’.
“We also assigned a negative outlook to this factor, which reflects the uncertainty surrounding additional remedial actions that the CBN may impose due to these related party exposures as well as the potential for further uncovering of governance irregularities. It also captures the lack of track record of the new board and its ability to restore confidence in FBNH and FBN,” it added.
Asset quality remains a rating weakness. FBNH reported an improved impaired loan ratio of 7.9% at end-1Q21 (end-2020: 7.7%). However, FBNH’s reported reserve coverage of 54.5% at end-1Q21 (end-2020: 48%) remains significantly weaker than domestic peers’.
“Our assessment indicates that if the related-party loan highlighted by the CBN were classified as impaired, the ratio would be unlikely to be above 10% (excluding any new impaired loan generation from ordinary business),” Fitch added.
What you should know
On 29 April 2021, the CBN removed the non-executive directors on the boards of FBNH and FBN and replaced them with new individuals appointed by the apex bank, according to Nairametrics.
The CBN gave a series of reasons for its action including the unjustified and unapproved change of the bank’s MD/CEO by the former board, corporate governance failings pertaining to long-standing insider loans that were affecting the bank’s capitalisation and failure to comply with regulatory directives.
Airtel Nigeria announces appointment of Surendran as new Chief Executive Officer
Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new MD/CEO with effect from August 1, 2021.
Telecommunications giant, Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new Managing Director and Chief Executive Officer with effect from August 1, 2021.
Surendran would be replacing the outgoing Managing Director and Chief Executive of Airtel Nigeria, Olusegun Ogunsanya, who has been elevated to the position of Chief Executive Officer of Airtel Africa Plc with effect from October 1, 2021.
According to a report from the News Agency of Nigeria, this disclosure is contained in a statement issued by Airtel on Wednesday, May 5, 2021, in Lagos.
The statement says that Surendran would also be appointed to the Executive Committee (ExCo) as Regional Operating Director, reporting to the CEO of Airtel Africa plc, and onto the Board of Airtel Networks (Nigeria) Limited.
Airtel in its statement said, “Surendran has been with Bharti Airtel since 2003 and has contributed immensely in various roles across customer experience, sales and business operations.
He was the Chief Executive Officer of Karnataka, which is the largest circle in Airtel India, with over one billion dollars in revenue.
Surendran delivered an exceptional performance with significant movement in Revenue Market Share (RMS) over the last few years, currently at 54 percent. He has over 30 years of business experience, including 15 years at Xerox.’’
Airtel said that Surendran would transition into his new role from June 1, 2021, and spend the time onboarding into the business until July 31, 2021.
In case you missed it
It can be recalled that a few days ago, Airtel Africa Plc, a leading provider of telecommunications and mobile money services in Nigeria and 13 other countries, announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer, following the notice of retirement given by the current Managing Director/Chief Executive Officer, Raghunath Mandava, to the Board.
In the notification sent by Airtel Africa to the Nigerian Exchange, Ogunsanya is expected to join the board of Airtel Africa with effect from October 1, 2021.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- FMDQ approves quotation of MTN’s Commercial Paper worth N73.5 billion.
- MTN Nigeria issues a 7-Year Series 1 bond worth N110 billion.
- Caverton Offshore Support Group reports profit after tax of N520 million in Q1 2021.
- Okomu Oil proposes dividend worth N6.7 billion for shareholders.
- Ardova Plc confirms appointment of Oladeinde Nelson-Cole as secretary.