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Corporate Press Releases

Furera Jumare resigns from Union Bank Board following appointment by Jigawa State

Mrs. Furera Isma Jumare has resigned her role on the Board of Union Bank of Nigeria Plc.

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Following her appointment as Director-General of the Jigawa State Investment Promotion Agency, Mrs. Furera Isma Jumare has resigned her role as Independent Non-Executive Director on the Board of Union Bank of Nigeria Plc. This in line with regulatory guidelines precluding certain categories of public servants from serving on boards of banks and other financial institutions.

Commenting on the Mrs. Jumare’s resignation, Board Chair, Mrs. Beatrice Hamza-Bassey, said:

“Since joining the Board in May 2017, Furera has been an invaluable voice in the Boardroom. Her experience and professional counsel directly contributed to our wins in recent years and in helping us navigate challenging times. She also served studiously as the Chair of the Board Governance Committee and Member of the Board Audit and Risk Management Committees. On behalf of the Board, I thank her for her diligent service and wish her much success as she answers the call of service to her State.”

Chief Executive Officer, Mr. Emeka Emuwa, said:

“Furera’s appointment is a clear acknowledgement of her experience and accomplishments in her long career including in her role as Director with Union Bank. The Board and Management are grateful for her service and wish her the best in her new role.”

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 Mrs. Jumare’s resignation is effective immediately.

2 Comments

2 Comments

  1. Usman Masaki Dansule

    October 20, 2020 at 7:26 am

    She made a great mistake, to join jigawa state government and received appointment from the current jigawa government of Badaru. I bet you she will regret.

  2. Oluwakemi Osa-Odigie

    October 29, 2020 at 7:36 pm

    Knowing Furera from our small beginnings as young ladies in the Apex Bank, she is capable of turning even a mistake into great exploits!!! Wish her well rather than discouraging her. Go girl go make your mark as usual. Routing for you in prayers!!! God will surely strengthen you to excel I all your ways🙏

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Corporate Press Releases

Why Digital Competitive Intelligence is a must have for business especially in challenging economic times (Part 2)

To survive in an industry with cut-backs, digital competitive intelligence is what will keep you afloat.

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Above is a full guide of what to look for in the report so you can get the most from its use, and also kindly view the first part of this discussion here.

The explanatory chart above shows customer sentiment (negative and positive feelings towards the leading technology brands). Jumia had the highest customer mentions, about 237 for the reporting period (from social/Twitter conversation and Web mentions) being the highest in the industry for the reporting period with 30.8% of the conversations positive; 59.93% neutral; and 9.29% negative mentions (a good performance for the brand).

This was followed by Paystack with approximately 220 mentions for the reporting period, with 30.13% positive mentions; 57.64% neutral (approximately 2% less than Jumia), and 12.3% negative (about 3% higher than Jumia).

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The margin between Jumia and Paystack soon widened and we will soon see in the explanatory chart below in the area of the frequency and reach of their messages below.

Remember that Jumia had 237 mentions for the reporting period, and Paystack had about 220 mentions in the reporting period. The approximate reach (how many people the message was exposed to) for Jumia was 5.5 million. That means the average reach per unique mention is 23,206, while Paystack on the other-hand had 220 mentions with a message reach of 1million, the average reach per unique mention of 4,545.

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Although the mentions are close (a difference of 17) the unique reach of Jumia is 500% more than that of Paystack. The good side of having a good reach is that if you have positive mentions, it reaches more people but if it is negative it also reaches more people.

The social conversation/mentions cloud below shows what the social conversations around the brand were, with Jumia having conversations around Jumia, sale, stake, you MTN, and Paystack having conversations around acquisition, Partners, Google, Flutterwave  Stripe payment.

To further know what conversations in social media had the highest impact on the brands, we look at Top mentions below, which gives us the exact mentions with the highest reach for each brand.

As we can see above in Top mentions report following the social conversation cloud, Jumia Nigeria was busy with its business of selling “Enjoy 80% off appliances during Black Friday”, a conversation that shows that if you are in the technology/e-commerce space you must take Black Friday seriously and if you are competing with Jumia you must be ready to do above 80% off discounts on appliances.

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That is just one insight from Jumia. Other top social mentions we see is the sale of MTN’s stake in Jumia mentioned By AriseTV and Fin24. Is MTN selling its stake in Jumia something to worry about? That is, is MTN exiting because the brand has yielded multiple investment returns or exiting because they see no future in the investment again?

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Next, let’s remember that this is an industry/competitive intelligence report monitoring and reporting on over 20 brands (NSE listed and non-listed industry leaders). So we move to mainstream news/web where many of the other brands get equally mentioned in the news.

See below

Opportunities and Threats   News Highlights

AIRTEL

Federal Government gives 3 days to Airtel to repair network and respond to complaints (as an ICT provider, you need to worry about this news here and put proactive measures in place to forestall government interventions).

MTN

Mtn raises 2.3 billion from sale of Jumia (This was already seen from social conversational cloud media)

MTN Nigeria tops 75million subscribers

app

MTN adds 12milllion Subscribers in Q3

MTN Nigeria expand footprint SANS Covid

MTN Nigeria profit drops as Nigeria struggles against Dollar.

MTN group service revenue up by 11% Q3

JUMIA

Every Friday is Black Friday on Jumia-Youtube(Black Friday is very important in ICT  industry  take note)

PAYSTACK

Stripe acquires Nigerian Tech Company

Paystack partner Google to train 500,000 SME

Main one

Content developer at Tecno

Finally let’s see the influencer promoting this brands so that other brands can learn from the social media engagement of influencers to do better.

Jumia had the best use of social influencers, following results from the first data between Jumia and Paystack’s reach and frequency. All other brands like Andela, Chamsplc, Courtville Business plc, CWG Plc, E-transact, Flutterwave, Main-one, Omatek, NCR, Zinox, are also monitored in this ICT industry report, but the tool didn’t find important news on the web and social about them at the reporting time.

Looking at the above daily insights, your brand will be getting when subscribed to the competitive intelligence report, I am sure by now you know what value the intelligence report brings to your brand. It is also so affordable at current 1,000 daily (all thanks to the Nairametrics team for making this possible). Spaces are limited and at the speed of the current subscription rate, the Nairametrics quota will be filled before the 23rd of November end date. Hurry and subscribe HERE

Industries available include; Banking, Insurance, Professional service, Industrial Goods, Consumer goods, Real Estate and Construction, Agriculture, Natural resources, Oil and Gas, Healthcare, Conglomerates, ICT, and other services.


Temiloluwa Sobowale is a Kellogg Alumni certified executive scholar in Sales and Marketing Analytics, co-founder of www.brandmanager.ng and CEO of Intelligent Interactive Limited, a Brand Marketing and Digital Analytics company in Nigeria.

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Corporate Press Releases

Stakeholders demand full deregulation of downstream oil and gas sector to accelerate investments, product sustainability

The recent increase in retail prices of PMS has been met with calls for a full and transparent deregulation of the downstream oil and gas sector.

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Resurgent calls for a full and transparent deregulation of the downstream oil and gas sector have greeted the recent increase of about 5% from N160/litre to N168/litre in the retail prices of premium motor spirit (PMS).

Stakeholders in the downstream value chain of the oil and gas sector insist that deregulation remained the “most appropriate and sustainable” direction available to the nation as global price of crude oil continues to reel under the pressure of the global coronavirus pandemic.

Analysis of the sector shows that with the current pump price of PMS at N168/litre, the Cost of Sales (COS) which represents the direct cost attributable to bringing PMS to the point of sales is estimated at about N161.81/litre. This represents 96.32% of the total cost to marketing and distribution companies, which implies that such companies based on the pricing template only have a thin margin of about 3.68% to cover running costs and make additional investments in infrastructure development.

Further analysis showed that access to forex which leans in favour of the Nigerian National Petroleum Corporation (NNPC) creates what experts described as a “monopolistic wholesale market” that thrives on “lopsided pricing mechanism within the market.”

Energy expert Dr. Babajide Agunbiade (Director National Oilwell Varco based in Houston, United States) said Nigeria may never harness the full development potentials of its oil and gas sector with the continued inefficiencies within the value chain.

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“Deregulation would reposition the sector and free the government to focus on its traditional role of creating an enabling environment for the growth of the sector and the economy.”

Industry watchers say there is an urgent need for marketers to participate in the supply of PMS to promote efficiency, sufficiency, and greater value for consumers.

They opined that a full and transparent deregulation of the downstream sector would lead to competitive pricing mechanisms which would facilitate the needed partnerships and more investments in the sector.

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 “Market forces should be allowed to determine price mechanisms and regimes as this will ultimately balance out challenges relating to availability, thereby attracting needed investment into the sector and optimising supply chain efficiencies,” they added.

Speaking on deregulation of the sector, Mrs Winifred Akpani, Chairman, DAPPMAN said the organisation welcomes recent development around the subject but believes “now is the time for the sector to embrace full deregulation.”

“As deregulation opens up the market for new opportunities, we will begin to witness unprecedented push in the sector towards promoting global standards in the Supply Chain Management thereby creating a system that gives the buying public added value for money. We have an opportunity to transform this sector to ensure more transparency, professionalism and long-term sustainability,” she explained.

She added: “DAPPMAN is committed to our objectives of creating, maintaining and managing a Supply Chain System that would bring about Value Added service provision to the buying public as well as increase job creation atmosphere (directly and Indirectly) through the needed stakeholder investments in infrastructure development, new technology and human capital.”

Akpani added: “However, for collaboration to be effective, we need to have a system where economic principles of demand and supply play a lead role in the deregulation process thereby increasing the levels of competition that would stabilize the market disequilibrium and ultimately deliver a system of market driven pricing mechanism for all stakeholders.

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PMS pricing remains a contentious issue in Nigeria amid calls for full deregulation which are expected to continue.

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Appointments

9PSB Board appoints Branka Mracajac as CEO

9 Payment Service Bank has announced the appointment of Branka Mracajac as CEO designate.

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The Board of Directors of 9 Payment Service Bank (9PSB) has announced the appointment of Branka Mracajac as the CEO designate. A seasoned Enterprise Resource Planning expert, Branka brings on board, an enviable record of accomplishments in digital financial services and risk management.

Prior to her appointment by 9PSB, Branka demonstrated her ingenuity during her stint at Digital Finance International in Russia and other markets. She is a versatile professional with top management experience of over 15 years in digital finance across 30 markets globally.

The Serbian national has worked in accelerating the adoption of digital payments and facilitated financial inclusion for various markets across Europe and other emerging markets around the world.

The Central Bank of Nigeria recently granted final approval to Nigeria’s digital lifestyle bank, 9PSB, to commence operations in fostering financial inclusion in Nigeria’s banking ecosystem.

With Branka’s leadership and experience backed by a competent and committed board of directors, 9PSB is set to deliver high-end digital banking and financial inclusion services that will make transactions easier, convenient and accessible for people of all social classes in Nigeria.

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Speaking on the appointment of Branka, the Chairman, Board of Directors, 9PSB, Chief Ikenna Kevin Okafor, stated that, “Branka is experienced in business strategy, corporate finance, policy implementation and risk management. I am certain that she will provide strategic leadership which will facilitate financial inclusion and increase financial payment across all market segments in the urban and rural areas of Nigeria.”

Responding to her appointment, Branka stated that “The pace of change in today’s Fintech industry is exceptional and I am delighted to be offered the opportunity to lead 9PSB at this early stage in its development. I look forward to using my experience to launch the 9PSB brand into the Nigerian Fintech market. The goal is to ensure that we are at the forefront of financial inclusion using the most innovative offerings.”

Ahead of the appointment of a CEO, the Board of Directors at 9PSB worked round the clock with a team of consultants who helped in establishing the company in the last 16 months. Members of the 9PSB’s board of Directors include Asega Aliga, Olurotimi Oladimeji Adebanjo, Amina Tukur-Tarfa, Samuel Okwulehie, Mohammed Edewor, Phillips Oki, Simeon Oyakhilome Okoduwa and Chief Ikenna Kevin Okafor, who chairs the board.

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They all come with rich and varied pedigree, which they have deployed at the disposal of 9PSB. Leading the board is Chief Ikenna Kevin Okafor, a philanthropist and the ex-President of the Southern-east chapter of the Lagos Business School Association. On his part, Mr. Asega Aliga is an investment banker, entrepreneur and financial services professional. He is passionate about capacity building and strategic global alliances for Pan-African investment opportunities.

Mr. Olurotimi Oladimeji Adebanjo holds an MBA from the University of Pretoria and is currently the regional director, South and East Africa at e-tranzact Global, South Africa. Serving as the only female on the board, Amina Tukur-Tarfa is a highly engaged individual with over two decades of top flight experience in the areas of HR Recruitment, Operations, Employee Services and Administration. She also has, relevant experience as a HR Generalist and HR Specialist with key areas of knowledge and proficiency.  Equally on the board is Mr Samuel Okwulehie, a Senior Advisor at Boston Consulting Group. He has a vast experience in commercial operations and global logistics gained from many years in the international airline industry.

Mr. Mohammed Edewor (Esq) is a serial entrepreneur and erudite lawyer with over 40 years of business and legal experience. Edewor has vast business interests in telecommunications, banking, manufacturing, oil and gas. Also, on the board is Mr. Phillips Oki an Economist and Fellow of the Institute of Chartered Accountant of Nigeria (FCA). He is a seasoned venture capitalist. Mr. Simeon Oyakhilome Okoduwa brings to the board, his core areas of expertise and experience which includes Corporate & Commercial Law Advisory; Dispute Resolution/ADR; Corporate Governance Audit & Remediation and Doing Business Advisory.

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