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RMB aids acquisition of Nigeria’s Lucky pen by South Africa’s BIC

The Nigeria arm of Rand Merchant Bank (RMB) is responsible for advancing the market share of Société BIC SA (BIC) in the country.

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RMB aids acquisition of Nigeria's Lucky pen by South Africa's BIC

The Nigeria arm of Rand Merchant Bank (RMB) is responsible for advancing the market share of Société BIC SA (BIC) in the country, having served as the financial advisor that guided Celplas Industries Nigeria in the sale of its pen manufacturing division, Lucky Stationery Nigeria Ltd.

The financial institution deployed a multiphase approach that delivered an optimal transaction structure between Celplas and BIC.

It was gathered that BIC and Celplas had been in discussion over the acquisition of Lucky Stationery Nigeria Ltd. but the sale required substantial restructuring of BIC’s business in the country, RMB was able to help with.

“This transaction further strengthened BIC’s global leadership in terms of pen manufacturing and market share and it also invigorated Nigeria’s stationery sector by introducing new, innovative products and market competition,” RMB explained in a statement made available to the public.

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[READ MORE: Farmcrowdy acquires Best Foods to explore meat market)

Why this matters: As stated by RMB, this transaction between Celplas Industries Nigeria and Société BIC SA (BIC) would help in restructuring the pen manufacturing business by reshaping the products if need be. BIC may now introduce new, innovative products so as to compete effectively in the market.

About BIC: The company’s products are inexpensive disposable ballpoint pen mass-produced and sold by Société Bic of Clichy, Hauts-de-Seine, France. It was introduced in December 1950 and is the best-selling pen in the world – the 100 billion was sold in September 2006.

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About Celplas Industries Nigeria: One of the largest manufacturers of coolers in Africa with a market share of 60%, Celplas specializes in products ranging from furniture to other packaging materials. The company’s clientele includes Coca Cola, Heineken, Guinness, Malta and Fayrouz.

About RMB: Rand Merchant Bank (RMB) is a diversified financial services brand encompassing Investment Banking, Fund Management, Corporate Banking and Advisory Services. Rand Merchant Bank, a division of FirstRand Bank Limited, is an Authorised Financial Services Provider and Credit Provider.

Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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ENDSARS

#EndSARS: Access Bank debunks aiding military onslaught against Lekki protesters

Access Bank has dismissed rumours on social media suggesting it aided military onslaught against protesters.

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Access Bank , #EndSARS: Access Bank Debunks aiding military onslaught against Lekki protesters

Access Bank Nigeria Plc has vehemently debunked rumour making the rounds that it aided the military onslaught against peaceful #EndSARS protesters at Lekki, by allowing military snippers access its head office tower for operations. 

Backstory: Recall that Nairametrics had earlier reported on how soldiers allegedly fired gunshots to disperse #EndSARS protesters in Lekki yesterday.

In view of this development, there have been public outcries and ensuing allegations, one of which is that Access Bank Nigeria Plc aided the military onslaught.

What they are saying

In response to the allegations, the bank first reacted to the development by expressing condolence. A verified tweet by the bank read thus: “We are deeply saddened to hear about the unfortunate loss of innocent lives yesterday at the Lekki Toll. We pray that the souls of the innocent rest in peace”.

(READ MORE: Soldiers fire gunshots to disperse #EndSARS protesters.)

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In addition, the bank stated: “We wish to address the statement by Arise TV alleging that Military Snipers were allowed access to our Head Office Tower for operations at the Lekki Toll Gate area. This is absolutely untrue. The video shared on Arise TV featured an employee of the bank conducting routine maintenance at the Tower location. It is unfortunate that this was reported as a sniper without any proof. As a corporate citizen with the purpose of impacting lives positively, we will never endanger the lives of Nigerians.” 

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ENDSARS

Just in: UK High Commission shuts down visa centres in Nigeria due to #EndSARS protests

The UK High Commission in Nigeria has announced the shutdown of its VISA application centers in Nigeria.

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Just in: UK High Commission shuts down visa centres in Nigeria due to #EndSARS protests

The United Kingdom High Commission in Nigeria on Wednesday, October 21, 2020, announced the shutdown of its VISA application centers in Nigeria for the next 48 hours, with effect from today (Wednesday), due to the ongoing #EndSARS protests in the country.

This comes barely a day after the US shut down its Lagos consulate, following the outbreak of violence from the #EndSARS protests in major parts of the country including Lagos State and the FCT.

The disclosure was contained in a statement issued by the UK High Commission in Nigeria on Wednesday, October 21, 2020.

The High Commission in a brief statement, also asked applicants with appointments for Wednesday and Thursday, to reschedule their appointments from Monday, October 26th.

Due to the ongoing protest in Nigeria and for the safety of both staff and applicants, our Nigeria centres will be closed for 48 hours at a minimum. For applicants with booked appointments within this period, please you will need to reschedule your appointment for next week, from 26th October 2020.

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“We will continue to post regular updates on this page, so please keep checking back for the latest information on reopening. We sincerely apologize for the inconvenience and thank you for your understanding.”

(READ MORE:#EndSARS: Nigerian Army set to commence Exercise Crocodile Smile VI)

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ENDSARS

#EndSARS: Archbishop of Canterbury condemns Lekki shootings

The Archbishop of Canterbury has joined his voice to the condemnation of the shooting of protesters in Lagos.

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#EndSARS: Archbishop of Canterbury condemns Lekki shootings

The Archbishop of Canterbury, Justin Welby says he condemns the shooting of unarmed protesters in Lekki and urges President Muhammadu Buhari to ensure that lives are protected.

The Archbishop, who is the Chief of the Anglican Church globally disclosed this on Wednesday morning, as the  International Community reacted to videos of protesters getting shot at the Lekki tollgate.

Recall Nairametrics reported that several social media accounts revealed peaceful protesters were being shot at by the military at the Lekki toll gate holdout for the #EndSars protest.

The Nigerian Army, however,  denied deploying soldiers to attack #EndSARS protesters who assembled at the Lekki Toll Plaza.

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The Archbishop earlier said in his statement, “I condemn in the strongest terms the reported deliberate shooting of unarmed protesters in Lagos and other parts of Nigeria.

“I have urged President Muhammadu Buhari directly to ensure that lives are protected – and I say that again now.

“I mourn for Nigeria. May God save Nigeria.

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