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BoI disburses N84bn to more than 776 Enterprises ain 2015

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The Management of Bank Of Industry (BoI) disclosed that it has disbursed N83.5billion to more than 776 enterprises that created almost 400000 jobs in the year under review. The most striking achievement in its credit operations was the disbursement of loans that amounted to N5.7billion to Micro Small and Medium Enterprises (MSMEs).

Waheed Olagunju, the Acting Managing Director of BoI stated this at media parley held at Oak Hotel, lekki in Lagos recently that these records represented 205percent increase over the average annual run rate of NI.7billion to MSMEs in the previous year. The three fold increase in loans disbursed to MSMEs in 2015 was due to the establishment of separate directorate for Small and Medium Enterprises (SME) in late 2014 which was headed by Executive Director, he added.

The media parley is annual event organized by BoI for those who covering business for their medium sometimes including editors and analysts.

Olagunju pointed out that the operations of the SME directorate were driven mainly by the fact that the multiplier effects per units of investment in MSMEs are higher than in large enterprises. Accordingly considerable financial and human resources were deployed towards their development. In this regard we decided to bring the bank’s services closer to our esteemed current and potential customers, by increasing our offices to seventeen (17) from seven (7).

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He disclosed that the number of business development service providers who were appointed to help SMEs package their loan application was increased to 200 from 122 in the course of 2015. The bank also leverages technology to automate its operations process and develop the following five digital products. SME Mobile App, SME Loan Application and Tracking System, SME Accounting App and the SME Customer Portal were about 700 of our customers now advertise products on BoI’s website.

“The bank strongly leverages its Enterprise Risk Management Framework to effectively manage its risk exposure as non-performing loan ratio improved from 6.92percent in the year under review to 4.01 percent as at end of 2015. Bad loan recoveries of the year stood at N1billion was achieved in the year. The secured a credit rating of AA+ from Fitch Rating, an international rating agency.

In His Words: “Technology is transforming the way we do business. The bank upgraded its core banking application in the year to a more robust version with more functionality.  The following value-adding automation projects went live in the year.

Disbursement Availment Tick Process, Credit Application and Tracking process, Vendor Payment Processing, E-bills Pay and Staff Travel Management.”

He noted that as part of efforts towards effectively implementing the objective of Nigerian Industrial Revolution Plan (NIRP) and National Enterprise Development Programme (NEDP), the bank plans to mobilize substantial financial resources from within and outside Nigeria by leveraging its relationship with both domestic and foreign development partners.

BoI Boss emphasized that as we head into the future in our quest to become Africa’s leading world-class Development Finance Institution, the bank shall continue to deepen impact in both core emerging sectors, drive service delivery excellence, support the development SMEs in the country by leveraging strategic partnership, effectively managing enterprise risks as well as leveraging technology.

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Rivers, Imo Teachers Shine As Promasidor Marks World Teachers Day With Special Cowbellpedia Teacher’s Mathematics TV Quiz Show

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It was a reversal of roles for teachers last weekend as Promasidor Nigeria Limited, makers of “Cowbell, Our Milk”, marked the 2019 World Teachers Day with special (Teacher’s edition) of Cowbellpedia Mathematics Quiz Show to celebrate the teachers.

The twelve teachers, who produced the finalists in the Junior and Senior categories of the 2018 edition of the competition, contested for honours and prizes.

In the Junior category, Mr Paul Fase of Graceland International School, Port Harcourt, Rivers State, outclassed others with 105 points, to win the star prize. Fase was the teacher of Favour Okarike who emerged as second runner-up in 2018 finals.

On the heels of Fase was Kayode Adebayo, a teacher from The Ambassadors College, Ota, Ogun State who garnered 95 points to emerge as first runner-up, while Godwin Udom, his counterpart from the same school, scored 75 point to become the second runner-up.

Adebayo’s student, Master Akinleye Akinfoluhan was the junior category champion in the 2018 edition while Udom’s pupil, Loluwa Abiodun was a finalist.

Other teachers who also participated in the contest but fell by the way side include Beckley Daniel of Welkin International School, Ota, Ogun State; Hamzat Dankanawa a teacher from  Nigerian Tulip International College (Boys) Abuja and David Akuru from Jesuit Memorial College, Port Harcourt, Rivers State.

Fase with a five years’ experience in the teaching profession, expressed gratitude to God for winning, maintaining that he now appreciates what the students are going through. “It is very easy to blame the students for lack of speed and for errors, but I now know it is not that easy,” he admitted.

In the Senior category, Ebock Inah-Ngulu, a teacher from Federal Government College, Owerri, Imo State, got the crown with 75 points. His student, Jessica Austine, was a finalist last year.

Christopher Olasupo of Graceland International College, Port Harcourt, Rivers State and Anfani Egbeyemi of The Ambassador College, Ota, Ogun State came second and third respectively. Olasupo’s student, Chinedu Mgbemena was the 2018 senior category champion, while Egbeyemi taught Enoch Adenekan, a 2018 finalist.

The trio successfully shrugged off the challenge from Oladipo Olatunde of The Ambassador College; Olalekan Olowe from Reality High School, Ilesha, Osun State and Samson Otunubi, a teacher from Federal Government Academy, Suleja, Niger State.

All the teachers commended Promasidor for the initiative which they described as a big morale booster for teachers across the country, adding that teaching requires passion, but teaching Mathematics demands a ‘special anointing’ because of the nature of the subject and the misconception by students and parents.

The students will come back to ‘battle’ this weekend as the semi-finals of the Cowbellpedia Quiz Show continues with 36 students jostling for 12 final slots. The airing also continues on DSTV Africa Magic Family Channel, AIT Network and other six television stations across the country.

Aside the N2 million grand prize, Managing Director of Promasidor Nigeria Limited, Mr. Anders Einarsson disclosed that the winner in each category, (Junior and Senior) will enjoy an all-expense paid educational excursion outside the country at the end of the initiative.

In addition, the first and second runners-up in each category will receive N1.5 million and N1 million respectively, while the teachers of the top prize winners will be awarded N500, 000. Those of the first and second runners-up will receive N400, 000 and N300, 000 respectively.

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FirstBank Georgian Cup Hits The Centenary Mark, A Possible World Record In Sports Sponsorship

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In furtherance of its commitment to the growth and development of sports, nation building and the economy at large, First Bank of Nigeria Limited has announced its sponsorship of the Georgian Cup of the Kaduna Polo Tournament for the 100th consecutive year, possibly the longest running sports sponsorship in the world and a Guinness Book of Records potential. The 2019 edition of the epoch making sports championship runs from October 12 – 20, 2019 at the Kaduna Polo Club, Murtala Mohammed Square, Kaduna.

The Kaduna Georgian Cup Centenary Polo Tournament commenced in 1919, with FirstBank sponsoring the sports tournament for a 100 years. The Cup which was donated by the Bank to the Kaduna Polo Club, is the oldest and most respected Polo trophy in West Africa. 

The 2018 edition of the tournament was won by team El-Amin, also billed to participate in the 2019 edition to defend its trophy, contested by other teams; Rubicon, Imani, Malcomines, Lintex Agad. A total of 45 teams are billed for the 2019 tournament. 

Speaking on FirstBank’s unwavering centenary sponsorship of the Tournament, the President, Kaduna Polo Club, Alhaji Suleman Abubakar said “the Georgian Cup Polo Tournament is indeed the Premier Polo Tournament in the country and it has proudly birthed many other sporting events across the country as well as the West African sub region as a whole. We are honoured to record such a milestone with FirstBank since the inception of the tournament 100 years ago. 

“Indeed, FirstBank remains a noble brand close to our heart at the Kaduna Polo Club and the tournament has indeed been a catalyst of socio-economic growth of Kaduna and the nation as a whole” he concluded.

FirstBank’s sponsorship of the Georgian cup is perhaps the longest standing sports sponsorship in the world, a reflection of a long-lasting partnership that aligns with heritage, shared values, elite performance and quality, all attributes worthy of celebration. This record sponsorship has been filed by the Kaduna Polo Club for consideration by the Guinness Book of World Records under the longest main sponsorship of a sporting world championship title.

Expressing the Bank’s delight on the sponsorship, the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake Ani-Mumuney said “2019 is indeed an eventful year for us and one of the many high-points since we were founded 125 years ago. Part of our excitement stems from the pride we feel at having supported the Georgian Cup Polo Tournament for 100 years consistently. We are indeed proud to achieve this feat as it reinforces our leadership role as an institution committed to the continued growth and development of sports and the economy at large. The Georgian Cup Polo Tournament is one of the many heritage sporting sponsorships supported by FirstBank over the years. Another example is the FirstBank 58th Lagos Amateur Golf Open tournament, in partnership with Ikoyi Club 1938 holding in November this year which we have also supported for 57 years. We dare say perhaps another record in sports sponsorship”

This unprecedented Polo extravaganza boasts notable players such as Chris Mckenzie, the best South African polo player; Max Charlton, the Best British polo player as well as other top Argentine players in attendance amongst many other professionals.

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N1.1million ‘Jesus Shoes’ with holy water soles and mini crucifix go viral

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A pair of trainers dubbed ‘Jesus Shoes‘ — with holy-water injected soles coupled with a mini crucifix and drop of blood on the tongue to match — have begun to go viral.

The now-trending godly sneakers, which were created by MSCHF (Mischief), a Brooklyn-based creatives, sold out within minutes of being released online on Tuesday, October 8.

The MSCHF rebranded a pair of Nike Air Max 97 sneakers to implement the idea of walking on water with ‘Jesus Shoes’.

Nike was, however, not connected to the project in any way.

The ‘Jesus Shoes’, which are selling for as much as £3,000 (approximately N1.1million), contain holy water from the Jordan river in the bubbled soles, a steel crucifix on top of the laces of the right trainer and a red blob at the tip of each trainer tongue to signify the blood of Christ.

Each pair contains 60 cubic centimeters of liquid.

On the Stockx sneaker trading website the shoes are priced at $3,000-$4,300 a pair.

In addition to the holy water, which was blessed by a priest, there is also the biblical verse ‘Matthew 14:25’ — which accounts the act of Jesus walking on water — referenced on the side of the shoes.

The bottoms of the shoes are also dyed a reddish tint to mimic the shoes worn by popes long ago.

“We thought of that Arizona Iced Tea and Adidas collab, where they were selling shoes that [advertised] a beverage company that sells iced tea at bodegas,” Daniel Greenberg, the company’s head of commerce, told the New York Post.

“So we wanted to make a statement about how absurd collab culture has gotten. We were wondering, what would a collab with Jesus Christ look like?. As a Jew myself, the only thing I knew was that he walked on water.”

The company also disclosed that more of the sneakers will be available from October 22.

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