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Business tycoon, Folorunsho Alakija announces N1 billion donation to fight Coronavirus

Mrs.Folorunsho Alakija has disclosed that she and her husband, would be contributing N1billion to support the fight against COVID-19 in Nigeria. 

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Folorunso Alakija,Business tycoon, Folorunsho Alakija announces N1 billion donation to fight Coronavirus

Billionaire and richest woman in Africa, Mrs Folorunsho Alakija has disclosed that her family through Famfa Oil limited would be contributing N1 billion to support the fight against Coronavirus in Nigeria.

The disclosure came in a statement released on her Twitter account. According to the bosses of Famfa Oil Limited, the donations symbolizes their resilience, character, and strength as they plan to work with the National Centre for Disease Control (NCDC).

She stated, “As the world rallies to deal with the health, security, economic and social implications of the coronavirus, it’s clear that we will feel the effects much more deeply than many of the developed world. Managing a crisis of this magnitude means that the strength of our response will determine our ability to weather the storm.

“Individually and collectively, we are rising to this unprecedented challenge in a way that symbolizes our resilience, our character, and strength,”

Breakdown of the donation: The breakdown of the N1 billion as seen in the statement showed that the National Center for Disease Control (NCDC), will receive N250,000,000; Lagos State Government, N250,000,000, African Center of Excellence for Genomics of Infectious Diseases, N50,000,000 and Medical Workers on the Frontline in Lagos, N100,000,000.

(READ MORE: COVID-19: Polaris Bank joins list of banks that limit banking hall operations)

Others included are, Medical Workers on the Frontline in Abuja, N100,000,000; Supply Of Medical Equipment to relevant organizations, N245,00,000 and Dr. Ameyo Stella Adadevoh (DRASA), N5 million.

Alakija believes that the listed organisations will decide on where to deploy their contribution to the needed impact. She also said Famfa Oil would see to it that the contribution is utilized in the best way possible.

“We will work with these organizations to determine their specific requirements in the furtherance of our collective fight against COVID-19. We will also oversee the procurement of these products and facilities to ensure that our contribution is deployed in the most impactful way.

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“Famfa Oil Ltd commends the efforts made by the Federal and State Governments towards the fight against the pandemic in Nigeria and enjoin all Nigerians to follow stipulated health guidelines in order to keep us all safe. May God Bless our country Nigeria,” the statement read.

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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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Appointments

Standard Bank Group appoints Yinka Sanni as new Chief Executive of Africa Regions

Yinka Sanni has been appointed as Standard Bank Group’s Chief Executive of Africa Regions.

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Stanbic IBTC declares N10.4 billion interim dividend

The Standard Bank Group has announced the appointment of Yinka Sanni as the new Chief Executive of Africa Regions.

This announcement was made by the Group in a post shared via its official LinkedIn account. The bank revealed that Sanni will be replacing Sola David-Borha who is retiring after 31 years of distinguished service to the group.

His appointment will play an integral role in driving the growth of the Standard Bank Group in Africa further in the years ahead.

He is expected to build on the work of David-Borha, a renowned professional who played a key role in growing the Group’s Africa Regions portfolio in terms of capacity, market share and contribution to the group’s headline earnings.

What you should know

  • Yinka Sanni is a Fellow of the Chartered Institute of Stockbrokers of Nigeria.
  • He has served in key positions within the Stanbic Group, as the Chief Executive of Stanbic IBTC Holdings PLC, Chief Executive of Stanbic IBTC Bank PLC, Deputy Chief Executive of the Bank and Executive Director, Corporate & Investment Banking of the Bank.
  • He was also the pioneer Chief Executive, Stanbic IBTC Pension Managers Limited and the pioneer Chief Executive, Stanbic IBTC Asset Management Limited.

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Corporate Press Releases

P2P crypto marketplace, Bitzlato (BZ) partners with Lemonade Finance to ease money transfers across Africa

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

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Bitzlato (BZ), the latest P2P Crypto Exchange to enter the African market, has added Lemonade.Finance, a borderless payment platform for Africa, as a payment method to its platform.

Lemonade Finance provides 100% digital payment experience for Africans to seamlessly participate in the global economy from anywhere in the world without any hassle or regardless of where they are from.

The partnership will enable users on the BZ platform to buy and sell bitcoins and other cryptocurrencies on the marketplace at zero cost.

Users in Nigeria will now be able to send Nigerian Naira (NGN) to MPESA at 0% transaction fee.

Speaking about this partnership, Ridwan Olarere, CEO, Lemonade Finance, said:

“We are excited to partner with such an innovative company like Bitzlato to connect more Africans through payment. Many Africans living on the continent face many difficulties when making payments as remittance companies charge high fees and are time-consuming. We are now providing our users with a cost-effective way of sending money to Ghana, Kenya, Uk and Europe.”

Commenting on the opportunities this provides to crypto traders on the BZ platform, Mike Lunov, CEO, BZ, said:

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrencies trading. The innovation exhibited by the Lemonade platform, and the brilliance of its team assures users of top-notch, secure and reliable transfers going forward.”

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According to BZ, during the first month, BZ will refund commissions in manual mode while using Lemonade Finance, but this will be automated at the end of this period.

Following this partnership, BZ is now looking to partner with merchants in the crypto space especially in Nigeria, Ghana, South Africa that have a steady flow of Nigerian Naira (NGN) to increase liquidity on the platform.

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Take advantage of the new Lemonade Finance payment method on BZ, which offers zero transactional fees for money transfers from Nigeria into Kenya. Sign up on BZ and start trading crypto easily today.

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