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Market Snippet: Nigerian Breweries Join Losers In Share Market



Stock Market

Nigerian Breweries was one of the losers in the share market on Wednesday, September 27. The brewery like its counterpart International Breweries was on the declining side of the market.


The Octopus News Business Snippet gives an insight into gainers and losers.


The All Share Index and market capitalisation, went down by 1.15 per cent to close at 34,951.27 points on Tuesday, from 35, 358.73 points on Monday.

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Thus, the market capitalisation depreciated from N12.188 trillion reported on Tuesday trading day to close at N140.460 billion.

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Nestle Nigeria: 19.70

International Breweries: 187 kobo

Nigerian Breweries: 100 kobo



Presco: 194 kobo

National Salt Company of Nigeria: 60 kobo

Oando: 19 kobo

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Unilever: 19 kobo

Zenith Bank: 11 kobo

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Thirteen lucky customers of Fidelity Bank PLC will enjoy their 2019 Christmas bountifully as the bank rewarded them with N19m for being faithful and committed to servicing their accounts. The lucky winners emerged from the Second monthly/ First Bi-monthly draw of the Get Alert in Millions Savings Promo Season 4, which held at the Bank’s Regional Office in Abuja.

There were three categories of winners among the customers: N3m, N2m and N1m, in addition to 18 consolation prizes of television set, generators and refrigerators. The Lagos Regional Office had the highest amount of N6m in total, followed by the North West Region with a total of N4m while Abuja Region had N3m cumulative amount. The South East, South South and South West had N2m each.

One of the lucky winners, Chika Perpetua Maduike from Abuja Regional office, who won N2m, when contacted on phone dismissed the call, but finally made it to the office dancing and rejoicing saying ‘this Christmas will be a special one for me. I did not believe the caller, but later decided to try and see if it was true and I have seen and I am very happy’. She went further to say, “I will advertise Fidelity Bank to everyone and tell them the bank is number one in Nigeria. Fidelity Bank , God bless you and take you to the next level in Jesus name’


Representative of the Managing Director of Fidelity Bank PLC, Mannir Ringim flanked by Regional Bank Head, Abuja Bank 1, Vanessa Mordi (L) and Group Head Savings, Janet Nnabuko, at the 2nd Monthly/ 1st Bi-Monthly Draws of Get Alert In Millions (GAIM 4) Savings Promo Season 4, in Abuja on Thursday

Another lucky winner, Olawale Abdulgafar, who won N1m said: “When I was called and told I have won N1m, I was not excited because I thought it was a scam. I quickly rushed to a nearby Fidelity Bank and asked someone I know who said a promo was ongoing and I should go to the Regional office . I am here now and I have seen it is real and I am very happy because this Christmas will be joyous for me. I want to thank Fidelity Bank for keeping their words”.


From left: Representative of Federal Competition and Consumer Protection Commission, Moses Ayough; Group Head Savings, Fidelity Bank PLC, Janet Nnabuko; Two Million Naira winner, Chika Perpetua Maduike; Representative of the Managing Director of Fidelity Bank PLC, Mannir Ringim; Regional Bank Head Abuja Bank 1, Vanessa Mordi; Representative of the National Lottery Regulatory Commission, Felicia Chinwe; and One Million Naira winner, Ishola Abdulgafar, at the 2nd Monthly/ 1st Bi-Monthly Draws of Get Alert In Millions (GAIM 4) Savings Promo Season 4, in Abuja on Thursday

Speaking earlier, the Managing Director/CEO, Nnamdi Okonkwo said lucky customers of the bank will cart away N120m at the end of the promo in April 2020, pointing out that N15m was won during the first draw in Ibadan and N19m in Abuja, bringing the total to N34m after the second draw. The MD/CEO who was represented by the Regional Bank Head, North West 1, Mannir Ringim said the promo which started in October 2019 was part of its efforts at deepening the Financial Inclusion strategy of the government and ensure more people are financially included.

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“As we speak, over 50m Nigerians are financially excluded, which represents about 45 percent of our population and we in Fidelity Bank want to bridge this gap and also encourage more people to embrace savings culture,” the MD/CEO opined.

Shading light on how people can qualify for the draw, Mrs Janet Nnabuko, Head of Savings said both existing and new customers can win by simply topping their account with N10,000 for existing customers or someone opening a new account and building it up to N20,000. She further disclosed that to qualify for the star prize of N3m one needs to build his account to N50,000 while aspiring for the Grand prize of N10m,  one only has  to grow his account to N200,000.

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Abuja Regional Head, Mrs. Vanessa Mordi said the bank was people friendly and remains committed to empowering Small and Medium Enterprises and also supporting individuals with surprise packages like the Get Alert in Millions Savings Promo.


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Razack Adeyemi Adeola (born January 30, 1959) is a Nigerian banker notable for winning the 2014 Business Day (Nigeria) Outstanding CEO Award and the 2015 The Sun (Nigeria) Banker of the Year. Adeola’s tertiary education was at Obafemi Awolowo University where he graduated with a law degree in 1982. In 1983, he was called to the Nigerian Bar. He later went to the University of Lagos where he enrolled as a postgraduate student for a Law degree and specialized in the Law of Secured Credit, Comparative Company Law and International Economic Law.
Mr. Adeyemi Razack (Yemi) Adeola has served as Managing Director/Chief Executive Officer, Executive Director of STERLING BANK PLC since December 2007. a role he has held since December 2007. He has over 25 years of experience spanning banking and finance, law, corporate consulting and academia.
Mr Adeola commenced his banking career with Citibank in 1988 serving as Chief Legal Counsel & Company Secretary; later as Executive Director, Public Sector & Infrastructure Banking; and subsequently the Commercial Banking Segment. He left Citibank in 2003 to pursue the turnaround project of Trust Bank of Africa Limited (TBA), serving as the Deputy Managing Director between 2003 and 2005. Upon the consolidation of TBA into Sterling Bank in December 2005, Mr Adeola assumed the role of Executive Director, Corporate and Commercial Banking and remained in that capacity until December 2007 when he was appointed as Managing Director/Chief Executive Officer of the Bank till 2018.
Mr Adeola is a fellow of the Chartered Institute of Bankers of Nigeria and has undertaken senior management/ executive education programs covering various business areas, He is an alumnus of Harvard Business School, Stanford Business School, Said Business School of the University of Oxford, and The Wharton School of the University of Pennsylvania. He is a John F. Kennedy Scholar. He is Member of the Board Credit Committee, Member of the Board Finance and General Purpose Committee, Member of the Board Governance and Nominations Committee, and Member of the Board Risk Management Committee of the Company.
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UBA Staff Across Africa Give Back at UBA Foundation’s Each One, Teach One Initiative




UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, on Friday held the 2019 edition of its annual Each One, Teach One initiative, hosting a huge impact day in Nigeria and across all its subsidiaries in Africa.

The Each One, Teach One initiative is part of UBA Foundation’s activities where the bank’s staff members give their time and skills to the communities around them. All across the continent, staff of the pan- African bank were seen within their communities, teaching and assisting the less privileged, especially students and people living with disabilities.

The Executive Director, Lagos and West Bank, Marketing, Mr. Ayoku Liadi, who represented UBA’s Group Managing Director, and the Chairman of UBA Foundation, Mr. Kennedy Uzoka, at the event in Lagos, expressed his excitement over the initiative, adding that as a corporate entity, UBA, through its Foundation has decided to give back as a family, starting by impacting knowledge and skills to students and participants.

Liadi said, “Our goal with this initiative which is in its second year, is to help the under privileged and young children learn vocational skills that will assist them along the path to financial freedom as they start businesses of their own. We have therefore, created a platform to encourage people who have various skills and talents to pass this on to the younger generation.

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Liadi also seized the opportunity to give the participants a short lecture about financial literacy, noting that it is important for students to embrace the culture of being financially cautious from a tender age.

He said, “At UBA, we want students to inculcate the habit of savings, especially for the rainy day. It is important that you are cautious about the future, because nothing is guaranteed. Therefore ensure that you bear this in mind when you receive your pocket money and allowance no matter how little; because when you save today, it will go a long way to help you tomorrow, “Liadi told the students who filled the Onikan Youth Centre.

Students from Modupe Cole Memorial Childcare and Treatment Home; Standard Hallmark College, Mushin; Child Life-Line,Lagos and Moyin Rainbow Foundation, Lagos; were some of the students who participated at the event.

The Chief Executive Officer, UBA Foundation, Mrs. Bola Atta, who threw more light on the initiative stated that it is aimed at helping to impact lives positively and in a very meaningful way. She added that the initiative, which was going on simultaneously in 20 countries across Africa, was being driven by UBA staff members who were very happy to give back to the society.

“At UBA Foundation, we are constantly being asked by other staff members how they can help. A lot of people are genuinely interested in doing good. With the Each One Teach One initiative, you don’t need a huge sum of money, you just need to give of your time and talent to at least one other person. It is simple. It is effective and the impact is ginormous imagine how many people across 20 countries in Africa benefitted today from someone just taking a little time to help them acquire new skills or hone old ones. There is something really gratifying about giving back. It helps the communities and helps you grow as an individual.’ Said Atta

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Thousands of UBA staff members across Africa voluntarily committed their time today to teaching youths various activities such as foreign languages, photography, tae kwon do, fashion design, martial arts, first aid, coking, hair dressing, mathematics, reading, music and much more.

UBA, Africa’s global bank, is committed to being a socially responsible company and role model for all businesses in Africa. UBA recognises the need for a social contract between the bank, the community and its people.

As the Corporate Social Responsibility arm of the UBA Group, UBA Foundation is committed to the socio-economic improvement of the communities in which the bank operates, focusing on development in the areas of Environment, Education, Economic Empowerment and Special Projects.

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