In addition to recording a profit in its Q3 financials in October, Oando’s management has received recognition from various reputable institutions in the country. Amongst these are the Chairman, Oando Plc, Oba Michael Adedotun Aremu Gbadebo, Alake of Egba Land; Ms Ayotola Jagun the Company’s Chief Compliance and Company Secretary Engr. Anthony Sawyer, General Manager, Operations, Oando Energy Resources. These recognitions are proof that Oando is being managed by reputable professionals with years of industry experience.
Oba Michael Adedotun Aremu Gbadebo received an investiture as a Fellow of the Nigerian Institute of Directors (IoD) at the institute’s 2019 Fellows Investiture Night. Oba Gbadebo sits on the board of notable organizations, including Oando PLC, Global Haulage Resources Limited, Dolphin Travels amongst others.
He was appointed as a non-Executive Director of Oando since April 2006 and has led the company through major milestones including the company’s acquisition of five drilling rigs between 2007 to 2009; the construction of major pipeline projects through its midstream subsidiary; the completion of a reverse takeover of Exile Resources to become Oando Energy Resources in 2012; the landmark acquisition of ConocoPhillips Nigeria and the divestment of its downstream and midstream naira earning businesses.
IoD Nigeria is an affiliate of the IoD UK, which was founded in London in 1903 and granted a Royal Charter by King Edward VII in 1906. Some Nigerian members of the IoD UK formed IoD Nigeria in Lagos in 1983. In 1997, the Council of the Institute, then a branch, sought autonomy and was granted affiliate status. Its Membership is drawn from Directors and Business Leaders in the public and private sectors and from a diversity of enterprises in commerce, industry, services, professions, bureaucracy, etc.
Ms. Ayotola Jagun the Company’s Chief Compliance and Company Secretary was inducted into a blue-ribbon council, in an advisory capacity to Executive Members of the Nigerian Bar Association Women’s forum and also served as a keynote speaker at the recently concluded Institute of Chartered Secretaries Lagos 2019 Conference where she is holding the prestigious title of a fellow.
When asked how she felt about being a council member of the Nigerian Bar Association (NBA), Ms Jagun said, “I am humbled and honoured by opportunity to serve women at the Bar and Bench by advocating on causes that impact on their position, well-being and progress in their chosen profession. I believe that Women in the legal profession are best positioned to address the issues of injustice, sexual violence against women and children and gender inequality in the wider society and to accelerate the change that the United Nations in SDG 5:Gender Equality, recognises as a key global goal in addressing the waste of the world’s human potential . This can only happen when female lawyers and judges are empowered within the legal profession and government institutions and are given the opportunity to occupy influential positions at the bar and bench that enable them to make changes to discriminatory laws and practices.”
Speaking on how Oando helped her prepare for this achievement she said, “I am grateful for the opportunity given to me by Oando to fill, grow into and own my current position within the Company. The entrepreneurial drive and culture at Oando, as well as the core values of the organisation, has honed me into the individual that I am by encouraging me to initiate bold ideas, take risks, speak up, take authority and make decisions both within and outside of my job scope. I am also grateful for the time given to me by the Company to get involved and contribute to organisations and causes as a volunteer on issues outside the scope of our business and my duties on Company time.”
In its Upstream business, Engineer Anthony Sawyerr, General Manager, Operations, Oando Energy Resources who was invited to receive an investiture as a fellow of the Nigerian Society of Engineers, was alongside 46 others conferred with the prestigious Nigerian Society of Engineers Fellowship, the highest professional recognition in engineering practice in Nigeria. Themed ‘’Nigerian Content Development: The Journey So Far”, the 12th conferment ceremony was held at the Africa Hall International Conference Center, Abuja on October 17th.
Engr. Sawyerr, who has amassed over 25 years work experience in the oil and gas sector, locally and internationally, expressed his delight on the conferment, also reiterating his commitment to lending his skills and expertise towards the development of the Engineering field and Nigeria at large. Engr. Sawyerr said; “It is a great honour working in such a diverse and dynamic field, especially considering how much positive contributions the engineering industry has made towards the infrastructural and economic growth of Nigeria. This conferment will, no doubt further spur the rededication of my skills to the industry while making valuable contributions and exemplifying professionalism.”
The Nigerian Society of Engineers is the umbrella organization for the Engineering Profession in Nigeria. The Society looks after the professional needs of members through well-structured programmes and regular interactions among the different cadre of membership, enhancing high professional standard and ethical practices.
“We enable ATM withdrawals without a card” – Ecobank
With Xpress Cash, customers can send money to their loved ones who are not even banked.
Ecobank has stated that cash withdrawals can be made at all its ATMs, without a card. The Ecobank cardless withdrawal concept, Xpress Cash, enables users to withdraw cash from ATMs using only a mobile phone, no ATM card is required.
The solution is seamless, secure and is driven by the generation of a code (e-token) by an account holder via the bank’s USSD code *326# or mobile app, Ecobank Mobile. The e-token can be sent to customers, non-customers and even people without bank accounts for cash withdrawal at all Ecobank ATMs nationwide.
Speaking in Lagos, Head, Consumer Banking, Olukorede Demola-Adeniyi said, “Digital payments are fast evolving. Customers want seamless experience across channels. We are committed to providing suitable options for our customers. Forgetting your card at home should not be a showstopper when you need cash.”
She went on to explain that the concept recognises the needs of the unbanked. In her words, “With Xpress Cash, our customers can send money to their loved ones who are not even banked. You can send money to your domestic servants or unbanked staff just by generating a code and sharing the code.”
“As a bank, we are not only keen to make our services accessible, but also affordable. Xpress Cash attracts only a flat charge of N50. Our USSD code, *326# offers zero session charges; and transfers of N5000 or less using our digital channels are absolutely free of charge. Also, people abroad who need to send money to their loved ones can do so without paying transfer charges using the Rapidtransfer app,” she said.
LSETF re-launches Idea Hub for tech start-ups
The programme would afford budding entrepreneurs with the necessary leverage to grow their ideas.
In line with its mandate to provide entrepreneurship solutions, training, and upskilling opportunities to innovative entrepreneurs and start-ups in the Lagos tech ecosystem, the Lagos State Employment Trust Fund (LSETF) has re-designed the Idea Hub Programme, under its Lagos Innovates Programme.
The Lagos Innovates Idea Hub Programme is a 12-week incubation programme designed to support tech-enabled businesses with relevant skills, networking opportunities and mentorship from seasoned industry experts; geared towards building a competitive and sustainable brand.
It is expected that the programme would afford budding entrepreneurs with tech solution with the necessary leverage to grow their ideas. The benefits include business incubation and coaching by Lagos Innovates experienced and seasoned Mentors; an opportunity to pitch for Lagos Innovates Workspace Vouchers for 6 or 12 months (valued between ₦120,000 – ₦1,800,000); and access to Lagos Innovates network including Government, corporates, start-ups, local and international investors, etc.
In her remarks on the initiative, the Executive Secretary/CEO, LSETF, Mrs. Teju Abisoye said; “The Lagos Innovates Idea Hub is a programme under one of our delivery mechanism tagged Tech Start-ups (Lagos Innovates), primarily responsible for cementing Lagos’ position as the leading destination for tech and innovation in Africa. With the recent global economic challenges due to the pandemic, we believe technology will be critical in proffering recovery and adaptive solutions as the world embraces the new normal.
“I am confident that with the Idea Hub initiative providing the institutional support, our young innovators in Lagos would be able to pivot toward this paradigm. We encourage growing entrepreneurs in the digital and tech space to take advantage of this programme to create compelling solutions that would accelerate the Lagos economic, business and lifestyle recovery trajectory”, she added.
Some of the seasoned mentors and industry experts of the programme are Bilikiss Adebiyi-Abiola, Founder, We-Cyclers, and DG, Lagos State Records and Archives; Olu Akanmu, Executive Director Retail Banking, FCMB; Nkemdilim Uwaje Begho, CEO, Future Software Resources Ltd; Ponmile Osibo, Partner, Platform Capital; Wale Ajiboye, Associate Director, Acumen; Oluwatoyin Oshinowo, Co-founder and VP Product, Field Insights; Dr Olanrewaju Phillips, Enterprise Account Manager, HP, Central Africa, and Odunayo Eweniyi, Co-Founder and COO, Piggyvest.
Other mentors are Olutosin Oni, Principal, Echo VC; Damilola Thompson, Vice President and Associate General Counsel, Echo VC; Oluwatoyin Emmanuel-Olubake, Associate Director of Portfolio, Acumen; Dayo Kolewole, Partner Microtraction, and Simeon Ononobi, Co-founder/CEO, Thank U Cash.
Interested applicants must run an early-stage start-up with viable and solution-driven ideas; technology must be the core or the enabler of the enterprise, and the founder must reside in Lagos State. Applicants should visit https://ideahub.lagosinnovates.ng to apply before the deadline date, Sunday 16th August 2020.
About Lagos State Employment Trust Fund (LSETF)
Established in 2016, LSETF’s vision is to create employment and entrepreneurship opportunities to reduce unemployment in Lagos State. LSETF focuses on promoting entrepreneurship by improving access to finance, strengthening the institutional capacity of micro, small, and medium enterprises (MSMEs), formulating policies and actively intervening to improve the business environment. The Agency also trains and places unemployed Lagos residents in jobs, while driving innovation within the Lagos ecosystem.
United Capital Asset Management explains mutual funds’ positive performance
Available data showed that the funds surpassed the market realities and beat the benchmarks.
United Capital Asset Management mutual funds have recorded significant growth despite the COVID-19 pandemic that has affected the economy and headwinds in the financial markets. Data made available showed that the funds surpassed the market realities and beat the benchmarks.
According to the fund managers, all our funds are actively managed to generate alpha regardless of the market conditions. For instance, the current return on the United Capital Money Market Fund is 5.7 per cent, which is better two per cent yield on the 91-day Treasury Bill in the secondary market.
Also, the United Capital Bond Fund and Eurobond Funds’ yields stand at 8.9 per cent and 6.9 per cent compared to benchmark returns of 6.0 per cent and 3.0 per cent respectively. The benchmark for the two funds are 3-year average FGN Bond yields and LIBOR+2 per cent respectively.
The company said the funds grew mainly on the back of its robust distribution network. “We have been able to complement our physical touchpoints with effective online sales model that allows clients to subscribe and redeem funds seamlessly. Our superior returns also set us apart our funds continued to return above industry average and benchmarks. For our Eurobond Fund, another key driver of the growth was investors demand for FCY due to the weak outlook for the naira especially amidst the pandemic. We have also maintained a strong A credit rating for our Money Market Fund, which gives investors comfort in investing in our funds,” the firm explained.
Commenting further, the Managing Director/CEO United Capital Asset Management, Odiri Oginni, the firm has constantly supported its clients on their journey to financial independence through our mutual funds. “Our mutual funds have grown much faster than the overall market in the last 18 months while returns on the funds consistently outperformed benchmarks, placing us amongst the top five Asset Managers by mutual funds size in the market. We hope to continue in this streak and even surpass it in the months and years ahead,” he said.
Explore Advanced Financial Calculators on Nairametrics
Also commenting, the Group Executive Director, United Capital Plc, Sunny Anene, stated: “the strong growth in the funds under management of our Asset Management subsidiary points to a high level of investor confidence in our brand as we continue to reward our clients with above-market returns regardless of challenges in the market. With an investment-grade credit rating, asset under management in excess of N150 billion, cutting across privately managed funds and 6 collective investment schemes, we remain positioned as a fund manager of choice in Nigeria today.”