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FirstBank partners Azuri Technology to promote sustainable development in Nigeria

FirstBank is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria for 125 years.

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FirstBank and Azuri

First Bank of Nigeria Limited, last Thursday signed a partnership with the Azuri Technologies to provide solar energy solution for the low-income areas.

The Deputy Managing Director of the Bank, Mr. Gbenga Shobo, said in Lagos that the partnership was aimed at proffering solutions to one of the major challenges facing the country today.

Shobo, represented by Tunde Owolabi, the Bank’s Group Executive, Retail Banking Group, Lagos & West, said that the focus is delivering power to millions of Nigerians; while at the same time enabling access to financial services in rural and low-income areas.

According to him, financial inclusion is a priority to FirstBank. “This is why we are excited about this partnership; because our customers will be able to access a wide range of services that address the real problem of access to power.

”This partnership with Azuri Technologies is one out of several of FirstBank’s partnerships. We have a track record of partnering with individuals and institutions to help meet the needs of our customers (children, women, youth, SMEs) and promote sustainable development in our host communities. Our partnerships cut across the Arts, Sports, Education, Health, among others; FirstBank has been at the forefront in ensuring ease of banking and convenience for its customers.

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”Our Agent Banking Network (Firstmonie Agent) and digital banking offerings like Chat Banking on Whatsapp, FirstMobile app, Firstonline, and USSD banking, are some of the channels we have put in place to make this happen. We are therefore, very excited about the FirstBank-Azuri partnership and the positive boost it aims to bring to the nation’s economy through inclusive services.”

”Indeed, this is part of FirstBank’s 125 year-long passion for partnerships that are woven into the fabric of society,” he said.

Also, Mr Simon Bransfield-Garth, the Founder and Chief Executive Officer, Azuri Technologies, said that the company “is a leader in pay-as-you-go solar technology”.

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Bransfield-Garth said: “Azuri brings affordable, modern consumer goods and services to the millions in sub-Saharan Africa without access to conventional power.

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”Of the one billion people who lack access to electricity around the world, over 600 million live in sub-Saharan Africa. Pay-as-you-go solar power is connecting off-grid households to the modern digital world. From home lighting to satellite TV, Azuri-designed solutions deliver world class performance at an affordable price for customers who live away from mains power.”

”Azuri’s vision is to create a level playing field where all consumers can access and benefit from the digital economy, wherever they live” he concluded.

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria for 125 years. With some 15 million customer accounts, FirstBank provides a comprehensive range of retail and corporate financial services with over 750 business locations. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

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FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

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NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

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Companies

Cutix Plc forecasts N148 million profit in Q4 2021

Cutix Plc has projected that its revenue will double and profit will increase by 9% to N148 million.

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Cutix Plc, dividend

Cutix Plc has projected that in the fourth quarter of its financial year 2021, its revenue will double and profit will increase by 9% to N148 million.

These projections were made by the company in a recent earnings forecast issued by the Management, and signed by the Company’s CEO and CFO.

READ: Vitafoam shares gain 9.6%, as company reports N4.11 billion as profit in 2020

Key highlights of the earnings forecast for Q4 ended April 30, 2021

  • Revenue to increase to N1.66billion, 100% Q-o-Q.
  • Cost of Sales to increase to N1.16 billion, 70% Q-o-Q.
  • Distribution, Admin & Other expenses to increase to N232.89 million, 14%% Q-o-Q.
  • Other Income to remain unchanged at N2.50 million,
  • Finance Charges to increase slightly to N47.38 million, 3% Q-o-Q.
  • Operating income to increase to N227.83 million, 14% Q-o-Q.
  • Taxation is projected at N79.74 million.
  • While Profit attributable shareholders is projected at N148.10 million.

READ: Royal Exchange Plc forecasts N500.83 million PAT in Q1 2021

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Bottom line

The earnings forecast was made on the ground that the Nigerian economy will continue improve, as the country recovers from the impact of COVID-19. In this regard, revenue in the fourth quarter of 2021 will be slightly higher than the revenue projected in the third quarter of 2021.

READ: Okomu Oil Plc records 27.01% decline in 2020 Q3 revenues

However, the increase in the cost of sales driven by the input cost will pressure profitability to the tune of N148.10 million, which is 9% higher than the profit after tax made in the corresponding quarter of 2020.

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PZ Cussons proposes dividend payout of N397 million to the shareholders

The Board of Directors of PZ Cussons Nigeria Plc has proposed the payment of N397 million to the shareholders of the company.

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PZ Cussons Plc, PZ Cussons Nigeria Plc

The Board of Directors of PZ Cussons Nigeria Plc has proposed the payment of N397.047 million to the shareholders of the company who currently hold the 3,970,477,045 fully paid ordinary shares of the company.

This disclosure was made public by the company in a notification issued and signed by the Company Secretary, Jacqueline Ezeokwelume, today the 7 January 2021.

She explained further that if the dividend of ten (10) Kobo per share recommended by Directors is approved by members at the Annual 72nd General Meeting, the dividend payments will be made on Monday, 1 February 2021.

What you should know

  • The Register of Members and Transfer Books of the Company will be closed from Monday, 11 January 2021 to Friday, 15 January 2021 (both dates inclusive) for the purpose of preparing an up-to-date Register of Members.
  • However, only shareholders whose names appear in the Register of Members and Transfer Books at the close of business on 19th October 2020 will receive the dividend on Monday, 1 February 2021.

What they are saying

Mr. Gbenga Oyebode, MFR, the Chairman of PZ Cussons Nigeria Plc, in his address said:

  • “Fellow shareholders, the Board of Directors is recommending to the shareholders at this AGM, a dividend pay-out of N397,047,700 representing 10 Kobo per share (2019: 15 Kobo per share). If approved, the dividend will be paid to shareholders on Monday, 1 February 2021 after deducting the appropriate withholding tax.”

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Companies

Neimeth proposes N123.45 million dividend to be distributed to shareholders

Neimeth has proposed a total final dividend of N123.45 million to be distributed to the shareholders of the company.

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Neimeth Pharmaceuticals

The Board of Directors of Neimeth International Pharmaceuticals Plc, has proposed a total final dividend of N123.45 million to be distributed to the shareholders of the company, as final dividend for the period ended 30th September 2020.

This information is contained in a corporate action announcement dated 30th December 2020, issued and signed by the Company Secretary, Mrs Florence Onyenekwe.

According to the announcement, the final dividend which sums up to N123.45 million when approved at the next Annual General Meeting (AGM) on 9th March 2021, will be paid to shareholders of the company who own the 1,250,844,000 ordinary shares of the company. This translates to a Final Dividend payment of 6.5 Kobo per share.

What you should know

  • The final dividend of 6.5 Kobo per share will be paid for all the outstanding 1,899,157,107 ordinary shares of the company. This gives a total dividend of N123,445,211.95, to be distributed to the shareholders of the company.
  • To enable Neimeth’s Registrars, Meristem Registrars and Probate Services Limited, prepare for the payment of the final dividend, the Register of Shareholders will be closed from 23rd February 2021 to 28th February 2021.
  • The dividend will be paid on 12th March 2021, electronically to shareholders whose names appear on the Register of Members as at 12th March 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividend directly into their Bank accounts.
  • Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

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