The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as an Initial Mandated Lead Arranger with a consortium of Nigerian commercial and international banks in a $1.5 Billion Pre-Export Finance Facility for Eagle Export Funding Limited, to enable the forward sale of crude by the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).
UBA is providing $200 million (Naira equivalent) towards the crude oil sale, to support investment growth and liquidity requirements. The forward sale will provide much-needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of foreign exchange earnings. UBA’s position as Mandated Lead Arranger recognises the Group’s strength in structuring and deploying financing to the oil and gas sector, and the depth and liquidity of the Group’s balance sheet.
UBA has a strong track record in the resources sector across Africa, having facilitated similar oil prepayment deals with the NNPC. UBA was also responsible for the EUR 240m Revolving Crude Oil Financing Facility for the Société Africaine de Raffinage and in Congo Brazzaville co-funded the $250m crude oil prepayment facility for Orion Oil Limited.
Other participants in the Eagle Export Funding Limited deal include Standard Chartered Bank, Afrexim Bank, Union Bank and two oil trading companies, Vitol and Matrix.
Speaking on this most recent support for the Nigeria’s petroleum industry, UBA Group Chairman, Tony O. Elumelu stated ‘This has been one of the most economically challenging years that Nigeria has witnessed. With the sharp drop in the price of oil and the ensuing hardship that followed the onset of the Covid-19 pandemic, the private sector must come together and contribute meaningfully to the economy. This facility is clear evidence of this – UBA is providing investment that will significantly improve Nigeria’s production capacity and in doing so also demonstrating the strength, depth, and sophistication of our commercial banking capability. I believe that together, working with governments, we can create more jobs and more wealth for people, not only in Nigeria, but across Africa’.
The United Bank for Africa is one of the largest employers in the financial sector on the African continent, with over 20,000 employees and serving over 20 million customers. UBA operates in 20 African countries and globally in the United Kingdom, the United States of America and France, providing retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.
Remitano launches Mission, a new online job market for crypto lovers
Remitano introduces Missions, a simple, short-term task platform that anyone can do and get paid for.
Remitano, global P2P crypto exchange, has just launched a new online job market – Mission, the platform’s latest element in its push to realize its full potential and open a new window of employment opportunities to crypto users.
Missions are simple, short-term tasks that anyone can do and get paid for. For example, “Share a Remitano post on Facebook.” The new online job market will provide a range of ‘easy and quick apply’ jobs (mission) for crypto lovers wishing to have additional earnings. This way, applicants can skate through the application process and land jobs fast.
As of the August 2020 announcement, Remitano already released a set of guidelines for users looking to take advantage of the offerings. The guide includes:
- Highlights of the missions
- Steps to apply
- Application requirements
Complete a Mission and Get Instant Crypto
While the internet has become the most vital channel for personal recruiting, and people consider different aspects of a job to be fulfilling, some common elements include work-life balance, growth, and a strong work community. Remitano’s newest mission is geared towards promoting similar values and keeping like–minds meaningfully engaged with the crypto community.
Furthermore, Remitano is thrilled to collaborate with greenhorns interested in building along with it. Hence, if you’re new to cryptocurrency trading and wish to maximize your earnings or want a legitimate way to get instant crypto without purchasing it, you can create a free Remitano account, and join the mission for the next job on hand.
Why You Might Want to Join Remitano’s Mission
- A side job: If you’re looking to expand your income or even monetize your free time, missions are ready for the taking. You will be poised to earn extra cash by helping to present Remitano’s ideas across the internet.
- More remote flexibility: with more people working from home, having a practical and comfortable working space is more important than ever. Remitano encourages this by providing digitized work environments for its employees’ remote adaptability.
- Unlimited geography: missions are for everyone, no matter where they are. Job seekers can access available online jobs from anywhere and apply for roles they fit into.
- Streamlined application: applicants only need to prep and submit requisites and certificates, allowing you to walkover face-to-face interviews
- Instant credit of cryptocurrency: once a mission is completed, successful candidates will receive instant crypto remuneration to their Remitano wallets.
Remitano is a product of Babylons Solutions Limited based in Seychelles. As a fast-moving marketplace, Remitano’s purpose is to offer a robust, quality trading experience to all users. With necessary safety standards in place, buyers and sellers can come together, store, trade, and retrieve assets, thus minimizing challenges common to crypto exchanges.
Launched in 2014, Remitano is a global cryptocurrency exchange serving international markets, such as Malaysia, China, Nigeria, Vietnam, Australia, Cambodia, and Indonesia.
Reach out to Remitano via:
Are SMEs the solution to Nigeria’s wailing economy?
MTN Nigeria commenced The Revv Program to mitigate the effects of the pandemic on SMEs across Nigeria.
The outbreak of the COVID-19 pandemic this year has been a major disaster to several sectors including the financial sector. The ensuing lockdown affected the global economy tremendously. SMEs in Nigeria were among the worst hit.
According to a survey published by the Fate Foundation and BudgIT on the ‘Impact of COVID-19 on Nigerian SMEs’, 94.3% of the total 1,943 respondents said the pandemic has negatively affected their business.
Back in 2017, the Small and Medium Enterprises (SME) sector comprising approximately 40 million SMEs contributed an estimated 48% to Nigeria’s Gross Domestic Product (GDP), and employed 84% of the country’s entire workforce, according to a National Bureau of Statistics (NBS) report released in 2018.
GDP is an important indicator of a country’s economic power. According to the NBS, Nigeria’s 2017 GDP was worth about N113.7 billion. Of that amount, the SME sector contributed 48%; that’s two percent short of half the total amount. This value provided by SMEs, which ensures the smooth running of the country, is why they are referred to as the bedrock of the economy.
But this was before the pandemic and the accompanying lockdown that resulted in an unprecedented economic tailspin affecting business operations, consumer spending, loss of jobs, and livelihoods. According to the Fate Foundation and BudgIT survey, off the businesses still managing to stay afloat, 72.1% cannot find the cash flow to continue running their business, and 59.2% are struggling to increase their revenue base.
When asked in what area they want to be supported, 72.1% answered with cash flow; 67.7% said they’ll need support to make sales; 89.4% want the federal government to provide them with funding; 33.8% need access to markets; 74% want the private sector to support with funding; and 62.9% want business support.
Recently, MTN Nigeria commenced an initiative tagged The Revv Program to mitigate the effects of the pandemic on small businesses across Nigeria. Working with relevant stakeholders, subject-matter experts, and the company’s executives, the program aims to support over 10,000 small businesses.
At the virtual launch, Chief Executive Officer, MTN Nigeria, Ferdi Moolman, called on large corporates to join MTN and “strongly position themselves to support SMEs as a foundation to the growth of a stronger economy going into 2021 and beyond”, saying “The Revv Programme is our way of standing with SMEs in their journey to rise through these challenging times.”
Adopting a four-pronged approach that includes masterclass sessions, support with productivity tools, access to market and advisory initiatives, the programme seeks to help SMEs relearn, readjust, and retool their businesses. The masterclasses which have been held weekly since August 18 focuses on core areas of business management as part of a broader strategy to uplift the SMEs.
This will be followed by the selection of The Y’ello 200 (two hundred top-performing SMEs from the sessions) that will enjoy exclusive access to a broad range of technology and productivity tools and services absolutely free, for a period of six months. They will also receive productivity support to enhance their business performance, in addition to access to MTN’s media assets for product marketing, which will open up new market opportunities for their business’ growth and expansion.
The majority of the small businesses affected by the pandemic are facing funding problems. The first masterclass, themed “Accessing the Right Funding for Your Business”, addressed this need. MTN Nigeria’s Chief Financial Officer (CFO), Modupe Kadri, together with other subject-matter experts threw light on ways SMEs can access funding from investors, and the role a properly managed cash flow system plays. “Anybody that wants to advance some securities to you will want to know the strength of your cash flow management; how you generate the income streams and how you’re going to keep the lead on that. The same thing also applies to your costs”, Kadri said.
In a subsequent masterclass themed, “Setting Up Your Business for Success: The Technology Advantage”, the Chief Enterprise Business Officer of MTN Nigeria, Lynda Saint-Nwafor shared that the concern for SMEs is at the core of The Revv programme. “We have the interest of SMEs at heart and whilst we do not provide all the services that are applicable, we are willing to partner with organisations that provide access to technology tools that are relevant to SMEs on a platform that makes it easy for them to access at the right price”, according to Lynda.
The Revv Programme will not be the first time MTN is supporting small businesses in the country. In 2018 the company launched the viral “Man In The Box” campaign with commendable outcomes for SMEs in the country. The idea was to support small businesses with technology solutions and create awareness for them by showcasing their businesses in the “Box” to the entire world.
For 24 hours and for free, selected businesses were showcased within the “Box” on LED screens, and across MTN’s social media platforms. Man In The Box was a huge success; it awakened Nigerians to the enormous untapped possibilities that litter the SME space. SMEs that were featured in the “Box” told amazing testimonies of how they witnessed growth and increased patronage of their businesses.
As we transit to a post-COVID environment, small businesses that had their business affected by the pandemic and are looking for new sources of income will have to pay attention to the programme. The good thing is, it does not matter how bad the pandemic may have affected their success, business will soon shape up for SMEs, especially the 10,000 small businesses to benefit from The Revv Programme. And with that, they will continue to provide the much-needed backbone for Nigeria’s economy.
How to open free Bitcoin wallet in Nigeria
Cardtonic is one of the platforms that provides a free bitcoin wallet address in Nigeria.
When it comes to cryptocurrencies such as Bitcoin, a bitcoin wallet address is very essential. A Bitcoin wallet address is made up of a string of 26-35 alphanumeric characters, that allows you to send and receive bitcoin.
Any bitcoin address can be used to transfer cryptocurrency to any other address on the network, provided the sender’s wallet software supports that address type. All addresses represent a destination on the Bitcoin network.
How To Open Free Bitcoin Wallet In Nigeria
Creating a bitcoin wallet in Nigeria is very easy. Wallets come on different platforms with different features in Nigeria. However, it’s advisable you always go for the best. This guide will help you to find the best Bitcoin wallet in Nigeria for you.
How Do I Get A Free Bitcoin Wallet Address In Nigeria?
There are various ways to get a free wallet address in Nigeria. Prominent among them is by signing up to a platform that offers a free bitcoin wallet address.
Cardtonic is one of the platforms that provides a free bitcoin wallet address in Nigeria. It is an online broker trading platform that facilitates the buying and selling of bitcoin, as well as gift cards. The bitcoin/gift card trading platform is designed to aid the buying and selling of bitcoin.
Get Free Bitcoin Wallet Address on Cardtonic
Cardtonic now offers Bitcoin Wallet Address for all users. The idea is that for each Bitcoin transaction, users will generate a unique, single-use address to provide to senders.
Why Cardtonic Offers The Best Bitcoin Wallet Address In Nigeria
Cardtonic has a nationwide reach, serving traders across Nigeria. Safe to say that it is also one of the largest gift card and Cryptocurrency exchange platforms in Nigeria.
Cardtonic deals in bitcoin and gift cards exchange, and at the same time provides a bitcoin wallet address that is of blockchain standard.
It is also one of the foremost bitcoin trading sites in Nigeria as it has greatly simplified the process for customers. The competitive advantage ranges from offering one of the fastest transaction times to having an extensive customer support system that is always on hand to provide assistance, not leaving behind the amazing bitcoin exchange rates. Thus, Cardtonic is raising the bar on bitcoin trading.
Therefore, with all the ease around bitcoin trading on Cardtonic, whether you are trading little or large, you’d like to get value and ease for them. And apart from the fact that there are a limited number of platforms that have such features in Nigeria, not every service can be trusted in terms of security, efficiency, and exchange rate. All these can be guaranteed with Cardtonic.
How To Create Bitcoin Wallet Address On Cardtonic
To create an address on Cardtonic, follow the steps below:
- Visit the website or download the mobile app on your android or iOS.
- As a user, proceed to the bitcoin trade page and generate your bitcoin address
- The address becomes permanently yours. You can receive bitcoin into your address at any time.
- Any amount of bitcoins sent to your address will be automatically added to your naira balance at the corresponding rates.
- Bitcoin trades on Cardtonic are completely automated and require no human or manual intervention.
Download Cardotnic Mobile App: https://play.google.com/store/apps/details?id=com.cardtonic.app