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World Business Angels Investment Forum appoints Ambrose-Medebem to represent Nigeria

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download 12 1 World Business Angels Investment Forum appoints Ambrose-Medebem to represent Nigeria

The World Business Angels Investment Forum (WBAF), an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), that aims to ease access to finance, promote financial inclusion, and create more jobs and social justice, has appointed Lafarge Africa Plc’s Director of Communications, Public Affairs and Sustainable Development, Folashade Ambrose-Medebem, to serve as a Senator representing Nigeria.

WBAF under the leadership of its Chairman, Baybars Altuntas, welcomes the appointment as Folashade Ambrose-Medebem will once again distinguish herself in the pursuit of the organisation’s commitment to collaborate globally in order to empower the economic development of the world by fostering innovative financial instruments for startups, scaleups, innovators, entrepreneurs and SMEs and to promote gender equality and women’s participation in all sectors of the world economy.

Speaking on her appointment, Ambrose-Medebem said: “I am extremely delighted at this great opportunity to serve with a great sense of national pride. My focus will be to drive for veritable representation that positively impacts gender equality in the corporate business world and also support local investors access to the global angels market.’’ She explained that she would contribute her quota to the attainment of WBAF G20 GPFI origins firmly rooted as a rapid-response, crisis-management group, and an effective contributor to global economic and financial stability.

Ms Ambrose-Medebem, who now joins as the second Nigerian Senator at the Grand Assembly of the World Business Angels Investment Forum , will in her role encourage and initiate collaboration between WBAF and key stakeholders in Nigeria’s entrepreneurship ecosystem, and also help venture capital and companies connect with international companies, Fintechs and other relevant institutions alike.

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Petrol supply fell by 23.88% in July, says NNPC

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images 19 3 Petrol supply fell by 23.88% in July, says NNPC

The volume of petrol supplied in the country declined by 23 .88 per cent in July to 1 . 02 billion litres, according to the Nigerian National Petroleum Corporation.
The NNPC said the 1 .02 billion litres translated to 32 .95 million litres per day , down from 44. 62 million litres per day in June , when 1 .34 billion litres were supplied .
Data obtained from the corporation showed that 0 . 95 billion litres ( 30 . 67 million litres/day) were supplied in May and 0 . 94 billion litres ( 31 .37 million litres/day ) in April.
The Federal Government imposed a lockdown on the Federal Capital Territory , Lagos and Ogun states on March 30 but a gradual easing of the lockdown began on May 4 .
In March and February , the volume of petrol supplied stood at 1 .73 billion ( 59. 72 million litres/day) , up from 1 .20 billion litres in January ( 38. 68 million litres/day)
“ The corporation has continued to diligently monitor the daily stock of Premium Motor Spirit to achieve smooth distribution of petroleum products and zero fuel queue across the nation , ” the NNPC said in its latest monthly report .
Agusto & Co , in a recent report , noted that the impact of the COVID – 19 pandemic on economic activities in the country resulted in a decline in the consumption of petroleum products .
The report said , “ Agusto & Co . expects the consumption of petroleum products , particularly PMS and Aviation Turbine Kerosene , to decline to 27. 2 billion litres in 2020 given the severely restricted travel and transportation activities during the second and third quarters of the year .
“ This is expected to translate to a decline in revenue to N4 . 3tn in 2020 .”
Nigeria , Africa ’s largest oil producer , relies largely on importation for petrol and other refined products as its refineries have remained in a state of disrepair for many years .
The NNPC has , until recently , been the sole importer of petrol into the country for more than two years , after private oil marketers stopped importing the commodity due to crude price fluctuations, among other issues .
The refineries , located in Port Harcourt , Kaduna and Warri , have a combined installed capacity of 445, 000 barrels per day but have continued to operate far below the installed capacity .
Under the Direct Sale Direct Purchase scheme , selected overseas refiners, trading companies and indigenous companies are allocated crude supplies in exchange for the delivery of an equal value of petrol and other refined products to the NNPC .

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FG Adds Emirates To List Of Banned Airlines

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images 9 2 FG Adds Emirates To List Of Banned Airlines

The federal government has withdrawn the approval granted to Emirates to conduct international flight operations in the country.
Hadi Sirika, minister of aviation, disclosed this via a post on his Twitter handle on Friday.
The ban will take effect on September 21, 2020.
The Nigerian Civil Aviation Authority (NCAA) had, in a memo earlier in September, included Emirates in the list of approved airlines for international flights for both Abuja and Lagos airports.
But the minister said the decision to reverse the approval was taken after a meeting of the presidential task force (PTF) on COVID-19 with European Union ambassadors on Friday.
Sirika also said there were discussions on the ban on Lufthansa and Air France-KLM.
“The PTF sub committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban. The meeting progressed well. Emirates Airlines’s situation was reviewed & they are consequently included in the list of those not approved, with effect from Monday the 21st Sept. 2020,” the minister wrote.

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Union Bank supports 10 NGOs with N1.7m through UnionBetta donations

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images 1 1 Union Bank supports 10 NGOs with N1.7m through UnionBetta donations

Union Bank, a leading financial institutions, has again delivered on its promise to support charitable organisations with a portion of proceeds from the UnionBetta savings product.  

Launched in 2016, UnionBetta is a sub-account which allows Union Bank customers earn attractive interest rates for saving for as little as N5000 monthly. In return, the bank donates a percentage of the interest earned to select Non-Governmental Organisations (NGOs) on behalf of its customers.

In selecting the recipients, priority was given to NGOs making impact in areas such as gender equality, education, talent development and agriculture which are key pillars of Union Bank’s citizenship efforts that align with Sustainable Development Goals (SDGs) 1,2,4, 5 and

This year, a total of One million, Seven Hundred Thousand Naira (N1.7m) was donated to 10 different charitable organisations to help support their activities. Some of the recipients include United Methodist Church of Nigeria Orphanage, Jalingo; Zinnok Initiative for Women & Children, Abia; Teens Dream Initiative, Kwara and Lagos Food Bank Initiative. Others include Uduak Charles Diaries, Akwa-Ibom; Flexisaf Foundation, Abuja and Adolescent Friendly Research Initiative & Care, Ekiti.

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