Etisalat Awards 800 Undergraduates Scholarship Worth N80million



Etisalat Nigeria announced that it has committed about N80m to the funding of scholarship awards to 800 Nigerian students in institutions of higher learning across the six geopolitical zones of the country.

The Chief Executive Officer, Etisalat Nigeria, Mr. Steven Evans, disclosed this at the 5th Etisalat Merit Awards in Abuja which held recently.

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Conoil set to Boost Fuel retailing with 7 New Stations




Petroleum product marketing company, Conoil Plc has said it is consolidating its lead in fuel retailing with the construction of seven new mega stations to increase its retail network across the country.


The opening of the stations has been scheduled for the last quarter of the year, the company said in a release.

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BMW offers use of 'spare' car to ease EV range anxiety


To avoid the fate of other slow-selling electric vehicles, BMW AG will offer the new i3 with a unique option: the use of a spare, conventionally powered auto.

Customers of BMW's first electric model can book a conventional auto like the X5 SUV for several weeks a year for family trips or as a backup. The "add-on mobility" feature, for which BMW hasn't yet revealed pricing, is part of the manufacturer's effort to overcome a major concern about electric vehicles, namely getting stuck on the side of the road with a dead battery.

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Etisalat announces its Daily Instant Recharge Bonus



Etisalat Nigeria last week announced the launch of its Daily Instant recharge bonus promotion.

The promotion would reward all new Customers with instant bonus of up to 100 percent on all recharges of N200 and above made everyday within the first 30 days of activating their telephone lines made within the first month of activating their telephone lines on the Etisalat network. New Customers whose recharges are not up to N200 also get 50% instant bonus. The bonus airtime is valid for 7days and can be used for pay as you go browsing, sms and calls to all networks.

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Transcorp, three others seek N32.47bn from capital market


Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema
Transnational Incorporated Plc. and three other listed firms have secured the approval of the Nigerian Stock Exchange to raise about N32.47bn from the capital market.

The other three companies are Sterling Bank Plc., Wapic Insurance Plc. and Resort Savings and Loans Plc.

The report showed the companies planned to raise the amount by way of rights issue. Since the market picked up at the beginning of the year, quoted companies have indicated their interest to raise money from the market through the existing shareholders.

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Publicis and Omnicom merge to create World's Biggest Advertising Company



L-R: Publicis Groupe CEO Maurice Lévy embraces Omnicom Group CEO John Wren during a press conference in Paris on July 28.

New York-based Omnicom Group and Paris-based Publicis Groupe, two of the largest global advertising agency holding companies, today confirmed that they will merge.

The merger which was announced on Sunday, will not only create the world's biggest advertising group, with combined market capitalization of $35.1 billion, but it will also put four of Chicago's largest advertising agencies into the same international holding company.

Chicago-based Leo Burnett is part of Publicis, as is Digitas Chicago. DDB Chicago and Energy BBDO are part of Omnicom. Once the merger is complete, likely by early next year, the four will join an extended family known as Publicis Omnicom Group, setting the stage for cooperation and consolidation.

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London Luxury Homes Average Value Surpasses 2 Million Pounds



(Bloomberg) The average value of luxury homes in central London exceeded 2 million pounds ($3 million) for the first time in the second quarter as more purchasers competed for a smaller number of properties on the market, Marsh & Parsons Ltd. said.

Home values in prime locations from Chelsea to Kensington rose 9.3 percent in the 12 months through June, the London-based property broker said in a report today. The number of buyers seeking homes in the most expensive districts climbed 11 percent from three months earlier, while residences available for sale declined by 14 percent.

“The imbalance of supply and demand is pushing property prices higher in prime London areas,” Chief Executive Officer Peter Rollings said in a statement. “Property is changing hands in record time and for close to the asking price.”

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African Fashion Week: Ready, Set ...


With just some days to go, the third edition of Africa Fashion Week London (AFWL) is set for take-off. The event which comes up on 1-4 August 2013 has not only expanded to three days but also moved to a bigger venue, Old Truman Brewery, in Shoreditch, London. 

This year’s event is set to see 100 designers on the runway and over 100 exhibitors spread across Old Truman Brewery’s massive indoor space, once again making AFWL the biggest fashion event across Europe showcasing African and African-inspired fashion.

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Why Knowing About the World Can Help Your Career and Business



By Natalie Jesionka

With Turkish citizens taking to the streets for another day of protests, I’m excited to get back there and document this historical moment first-hand. But, when I tell people I’m headed back to Turkey, they often respond with, “Wow! What’s going on there?”

I flinch a bit each time this happens. But I am also aware that despite having more access to information at our fingertips, the average American still doesn’t know much about what’s happening outside the States. And it’s not just important events about other countries that get overlooked—a host of basic political and social issues are missing from our overall knowledge of the world. I also often get asked questions such as, “Wait, is Darfur not a country?” or “Thailand! That is where the drink Mai Tai is from, right?”

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Facebook soars as results blow past targets

(MarketWatch) Shares of Facebook surged 20% in after-hours trading as the company reported continued growth in its user base, though again at a slower rate. The stock later eased its gains but was still up 17.3%.


The Menlo Park, Calif.-based social network reported a second-quarter profit of $333 million, or 13 cents a share, compared with a loss of $157 million, or 8 cents a share, for the year-earlier period.



Revenue rose to $1.81 billion from $1.12 billion. Adjusted profit was 19 cents a share. Analysts polled by FactSet on average expected Facebook to report a profit of 14 cents a share on revenue of $1.62 billion.


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Unilever's second-quarter sales growth misses forecasts



(REUTERS) Anglo-Dutch consumer goods company Unilever reported underlying sales growth of 5 percent for the second quarter, just shy of market expectations, and said that growth was slowing in emerging markets.



The maker of Ben & Jerry's ice cream and Dove skincare products said on Thursday that emerging markets grew by 10.3 percent in the quarter, slightly down on the 10.4 percent in the previous quarter, while developed markets fell by 1.3 percent.



"Growth is slowing in emerging markets, as macro-economic headwinds influence consumer behaviour," the company said. "Developed markets remain sluggish with little sign of any recovery in North America or Europe."


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Uturn set to hold 2013 Forum



All is now set for the 2013 Uturn Africa Stakeholders Forum tagged “Alluvion, Creating Momentum, Driving Change.” The forum will attract several corporations, foundations and donor organizations.

Featured speakers include Andrew Alli, President/CEO, Africa Finance Corporation; Paul Noumba Um, Finance &Private Sector Development for West and Central Africa (AFTFW), The World Bank; Godfrey Mwindaare, Director, Acumen Fund West Africa; Chineyere Almona, Head, Africa Corporate Governance Program, International Finance Corporation (IFC) Sustainable Business Advisory; Bisi Lamikanra, Partner, KPMG Professional Services, and a whole lot more.

Focusing on the Extractive, Energy & Infrastructure Sectors, Uturn Africa Forums engages the region's most influential leaders and those with interest in Africa in critical discussions designed to create partnerships, networks, knowledge and collaborative pathways to achieve effective social change and impact in the region; to work towards a cohesive operational framework for the continent and set an agenda on best practices and beyond compliance requirements for sustainability investments.

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Google unveils new Nexus 7, world's highest resolution tablet


Hugo Barra, vice president Android product management at Google, displays the new Nexus 7 tablet on Wednesday, July 24, 2013, in San Francisco
Google Inc on Wednesday showcased a new generation, slimmer Nexus 7 tablet that the internet search company hopes will expand its presence in consumer hardware, and ensure that its online services remain front-and-centre on mobile devices.
The latest Nexus 7, featuring a Qualcomm Inc Snapdragon processor and a higher display resolution, on July 30 will be priced at $229 for a basic version with 16 gigabytes of storage. The original year-old tablet started at $199 for an 8 gigabyte version.



Sundar Pichai, head of Android and Chrome software, said on the sidelines of an event to launch the tablet that the Internet company would make a profit off the new product. The first-generation Nexus 7, which marked its initial foray into mobile electronics, was financially a break-even product for the company, analysts have said.


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“Arbitration will enhance the appeal of FDI in Nigeria” - Experts



L-R: Olasupo Shasore SAN; Bimpe Nkontchou; Yemi Candide-Johnson SAN and Megha Joshi, Executive Secretary/CEO, all Directors of Lagos Court of Arbitration, at the recently held 2013 International Marketplace Conference organized by the Law Society, London  themed ‘Innovation, opportunities and challenges in emerging markets’

Experts have restated the positive impact of Alternative Dispute Resolution (ADR) on Foreign Direct Investment (FDI) by promoting business opportunities in Nigeria. This was indicated at the recent International Market Place Conference that held in London.

The conference, organised by the Law Society, attracted speakers and delegates from all corners of the world, was themed ‘Innovation, Opportunities and Challenges in Emerging markets,’ and highlighted the business opportunities that exist for firms of all sizes in providing legal services in commercial transactions and projects in, and between, emerging markets.

Dr. Augusto Lopez-Claros, World Bank Director of Global Indicators and Analysis, who gave a keynote address, put into perspective the contrast between developed countries, which are growing slowly, and some poorer countries that are developing fast.

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Nigerian Banks to keep 50% of public sector deposit as cash



Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi

The Central Bank of Nigeria (CBN) yesterday, further reduced the amount of money in the economy by directing banks to keep 50 per cent of public sector deposits as Cash Reserve Requirement (CRR).

The apex bank took this decision at the end of its Monetary Policy Committee (MPC) meeting in Abuja.

The Governor of the CBN, Mallam Sanusi Lamido Sanusi, said the 50 per cent CRR “applies to all federal, states and local government deposits on the balance sheet of deposits money banks.”

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Apple Acquires HopStop From Nigerian Chinedu Echeruo



Apple has acquired Chinedu Echeruo’s (pictured) HopStop.com, according to The Wall Street Journal’s publication, AllThingsDigital.

Founded in 2005, HopStop.com makes mobile applications for both iOS and Android that cover over 300 cities. The application helps people get directions or find nearby subway stations and bus stops. Terms of the deal had not been disclosed as at the time of this reporting.

HopStop has often been compared to Israel’s Waze which was recently acquired by Google for $1.1 billion. The move is seen as Apple’s plan to bolster its map offering especially given Google’s recent acquisition of Waze.

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Ecobank Transnational Incorporated Opens Subsidiary in South Sudan



 
Ecobank Transnational Incorporated has announced the opening of its South Sudan banking subsidiary.

This new banking subsidiary, the 34th on the African continent, offers the opportunity to support the youngest African state in addressing the challenges in regards to its development.

Ecobank South Sudan effectively started operations on 10 July 2013 and offers the suite of products and services of the Group to individuals, SMEs, multinationals and institutions.

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"We Give People the Opportunity of Free Business Education" - Regenesys' Executive Chairperson



Regenesys Business School is one of the leaders in its field in Southern Africa, who has, for over 15 years, educated over 75,000 students. In a recent conversation, the Executive Chairperson for Regenesys, Dr. Marko Saravanja, gave insights as to why the school was expanding its roots to Nigeria.
Dr. Marko Saravanja, Executive Chairperson, Regenesys Business School

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$20,000 Up for Grabs in the Nokia Don’t Break Da Beat Rap Competition ... as Asha 210 and Asha 501 are unveiled



Leading mobile phone manufacturer, Nokia, in Partnership with Trace urban, announced the commencement of Round 2 of the Don’t Break Da Beat rap competition with a reward price of $20,000.

The announcement of the competition was made along with the introduction of 2 new Nokia Asha devices; Asha 210, a dual SIM device that comes with a 2.4 inch LCD display screen, fast and responsive QWERTY and WiFi connection; and Asha 501, the first of its kind in the new era of Nokia’s Asha devices using the new faster and better Asha operating system.

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Microsoft's stock falls after bad earnings

World’s largest Computer technology corporation, Microsoft, is down 8.6% this morning. 

The stock has been doing worse and worse since the company released earnings. Initial reaction to the release sent the stock down 2.5%. Then it was 5%, then 6%. Now it's down over 8%. 

Microsoft's Windows business is finally feeling the effect of the collapse of the PC industry, and the failure of Windows 8 to slow the iPad. 

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GTBank acquires 70% shares of Kenyan bank

One of Nigeria’s largest financial institution, Guaranty Trust Bank (GTBank) yesterday announced that it had reached an agreement to acquire a 70 per cent stake in Kenya’s Fina Bank Limited for $100 million (N16 billion). Fina Bank has total assets of $338 million with operations in Kenya, Rwanda and Uganda, a GTBank statement said.

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Teach Yourself to Think Globally


Adapted from 'Join the Global Elite' by Gregory C. Unrh and Angel Cabrera 

Managers with cross-cultural expertise are in high demand these days. Fortunately, you don’t need to have extensive international experience or speak multiple languages to acquire a global outlook. Here are three ways to broaden your perspective:
 

Observe: Cultivate a curiosity about how places operate. Ask foreign colleagues lots of questions, and don’t assume you know the answers.


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Glo introduces innovative Phonelord product



Globacom has launched a mouth-watering and innovative product tagged Phonelord which rewards its subscribers for housing Glo SIMs in their phones.

The company said from now on it would pay its subscribers rents for using their phones to provide shelter for their Glo SIMs just like tenants pay rents to landlords.

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Sprinter Obinna Metu, fastest man in Nigeria on CNN’s ‘Human to Hero’ - Shares insights on his career, passion and dreams



Human to Hero, is a show that gets to the heart of what it takes to be a sporting star and explores the discipline, dedication and determination involved, as well as the sources of inspiration for the world's best athletes.



The show which airs today, 17th July, on CNN World Sport at 5pm, will feature Obinna Metu, the fastest man in Nigeria.


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France returns stolen artefact to Nigeria



Jacques Champagne de Labriolle, Ambassador of France to Nigeria

France, on Sunday, 14th July, returned a stolen artefact to Nigeria. The about 900-year-old statute was recovered by French customs at the Charles de Gaulle airport in Paris from the luggage of a man whose name was not mentioned.



Ambassador of France to Nigeria, Mr. Jacques Champagne de Labriolle, handed over the statute of Kwara origin and the restitution documents to the Director General of the National Council for Museum and Monument, Dr. Abdalla Usman, at a reception to commemorate the French National Day in Abuja.


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2013 Diageo Africa Business Reporting Awards Holds in London


This year’s Diageo Africa Business Reporting Awards will hold in London on Wednesday July 17, 2013. The Awards, now in its 10th year, is put in place to encourage professionalism and journalistic excellence among business journalists in Africa.

Managing Director, Guinness Nigeria Plc, a Diageo Company, Mr. Seni Adetu explained that the aim of the Awards is to recognise and reward journalists who are providing the best coverage of business in Africa. According to him the Awards have been sustained by Diageo’s belief that Africa, apart from being a unique place to do business, hosts some of the world’s most unique creative talents.

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Oil production drops as leakage forces Shell to shut Trans Niger Pipeline

A leak in the Trans Niger Pipeline has forced the Shell Petroleum Development Company of Nigeria Limited to shut the conduit barely six days after the company reopened the same pipeline which had remained shut following a fire incident in June.

As a result, 150,000 barrels per day of oil has been deferred with grave implication for the Federal Government, which will face reduced oil revenue for as long as the pipeline remains shut. 

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$3b debt delays plans for NITEL’s liquidation - BPE

The Bureau of Public Enterprises (BPE) yesterday revealed that over $3 billion (about N480 billion) liabilities of the moribund Nigerian Telecommunications Limited (NITEL) has remained the greatest constraint to the planned guided liquidation of the enterprise, adding the proposed liquidation would be finalised after the full value of the assets had been determined.

The Director General of the Bureau, Mr Benjamin Nikki, gave this hint when the Senate Committee on Privatisation visited his office.

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8 Qualities of Remarkable Employees


By Jeff Haden
 
Great employees are reliable, dependable, proactive, diligent, great leaders and great followers... they possess a wide range of easily-defined—but hard to find—qualities.

A few hit the next level. Some employees are remarkable, possessing qualities that may not appear on performance appraisals but nonetheless make a major impact on performance.

Here are eight qualities of remarkable employees:

1. They ignore job descriptions: The smaller the company, the more important it is that employees can think on their feet, adapt quickly to shifting priorities, and do whatever it takes, regardless of role or position, to get things done. 

When a key customer's project is in jeopardy, remarkable employees know without being told there's a problem and jump in without being asked—even if it's not their job.

2. They’re eccentric: The best employees are often a little different: quirky, sometimes irreverent, even delighted to be unusual. They seem slightly odd, but in a really good way. Unusual personalities shake things up, make work more fun, and transform a plain-vanilla group into a team with flair and flavor.

People who aren't afraid to be different naturally stretch boundaries and challenge the status quo, and they often come up with the best ideas.

3. But they know when to dial it back: An unusual personality is a lot of fun, until it isn't. When a major challenge pops up or a situation gets stressful, the best employees stop expressing their individuality and fit seamlessly into the team.

Remarkable employees know when to play and when to be serious; when to be irreverent and when to conform; and when to challenge and when to back off. It’s a tough balance to strike, but a rare few can walk that fine line with ease.

4. They publicly praise: Praise from a boss feels good. Praise from a peer feels awesome, especially when you look up to that person.

Remarkable employees recognize the contributions of others, especially in group settings where the impact of their words is even greater.

5. And they privately complain: We all want employees to bring issues forward, but some problems are better handled in private. Great employees often get more latitude to bring up controversial subjects in a group setting because their performance allows greater freedom.

Remarkable employees come to you before or after a meeting to discuss a sensitive issue, knowing that bringing it up in a group setting could set off a firestorm.

6. They speak when others won’t: Some employees are hesitant to speak up in meetings. Some are even hesitant to speak up privately.

An employee once asked me a question about potential layoffs. After the meeting I said to him, “Why did you ask about that? You already know what's going on.” He said, “I do, but a lot of other people don't, and they're afraid to ask. I thought it would help if they heard the answer from you.”

Remarkable employees have an innate feel for the issues and concerns of those around them, and step up to ask questions or raise important issues when others hesitate.

7. They like to prove others wrong: Self-motivation often springs from a desire to show that doubters are wrong. The kid without a college degree or the woman who was told she didn't have leadership potential often possess a burning desire to prove other people wrong.
 
Education, intelligence, talent, and skill are important, but drive is critical. Remarkable employees are driven by something deeper and more personal than just the desire to do a good job.

8. They’re always fiddling: Some people are rarely satisfied (I mean that in a good way) and are constantly tinkering with something: Reworking a timeline, adjusting a process, tweaking a workflow.

Great employees follow processes. Remarkable employees find ways to make those processes even better, not only because they are expected to but because they just can't help it.


Culled from www.inc.com

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FirstBank signs $100m SME facility agreement with China Development Bank



Group Managing Director, First Bank of Nigeria, Bisi Onasanya

In its bid to boost lending to small and medium scale enterprises in Nigeria, and also stimulate economic growth in the country, Nigeria’s Best Banking Brand, First Bank of Nigeria Limited today signed a $100m facility agreement with China Development Bank (CDB), a leading bank in the Peoples’ Republic of China. This is coming on the heels of the First Bank’s extension of a single digit credit facility to Nigerian entrepreneurs in partnership with the Nigeria Association of Small Scale Industrialists (NASSI).

The signing of the landmark agreement, witnessed by President Goodluck Jonathan, who is on a State visit to China; and his host, President Xi Jinping of China, reinforces the Bank’s leadership position as a National Icon and Global Player. The First Bank Group Managing Director, Bisi Onasanya is a member of the Presidential delegation which also includes 4 state governors and 10 cabinet ministers.

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Over $10 billion (N1.6 trillion) invested in the Nigeria Export Processing Zones Authority (NEPZA)



Over $10 billion has been invested in the Nigeria Export Processing Zones Authority (NEPZA) says NEPZA’s Managing Director, Mr. Oluwagbemiga Kuye. Kuye says NEPZA anticipates investment to increase to up $15 billion (N2.4 trillion) in the next five years.



Nigeria currently has about 25 free zones of which nine are operational and six are still under construction.


 


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Dell launches solar powered mobile classroom, ZubaBox, in Lagos




Dell announced today that it has launched its first solar powered lab also known as the ZubaBox mobile classroom in Africa to provide increased opportunities for learning to students with little or no access to technology or the Internet. The solar powered lab, which has arrived on-site at a Senior School in Nigeria’s largest city, Lagos, removes the need to connect to any electrical infrastructure and provides an affordable education solution for the local community. Equipped with an innovative-shared computing solution from Dell Wyse, the Dell ZubaBox opens up new teaching possibilities and the personal development of students through enhanced training and education.


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"We’ll build airports, power plants with Chinese loan" – Okonjo-Iweala


Coordinating Minister for the Economy (CME) and Minister of Finance, Dr. Ngozi Okonjo-Iweala
Nigeria has secured a $1.1billionChinese low-interest loan to develop airports and hydro power plants, Finance Minister Dr. Ngozi Okonjo-Iweala confirmed yesterday.

The Coordinating Minister of the Economy spoke ahead of President Goodluck Jonathan’s four-day state visit to China, which starts today. Dr. Okonjo-Iweala said she was also looking for Chinese investments and increased trade with Nigeria. She said, “China is desirous of increasing its lifting of Nigerian oil.”

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Etisalat hits Major Cities with Easyblaze Experiential Campaign



Etisalat Nigeria's Chief Commercial Officer, Mr. Wael Ammar

In a bid to sustain its revolution of the mobile broadband market in the country, Nigeria’s most innovative telecommunications company, Etisalat, starting this week will embark on a 24-state experiential tour campaign of its 3.75G High Speed Packet Access (HSPA) broadband service popularly referred to as Easyblaze.



The Easyblaze experiential tour is in partnership with Qualcomm, leading manufacturer of wireless chipset and software technology, the Opera Group, makers of the world’s most famous mobile browser opera mini, social networking site Facebook, and technology companies Samsung, Nokia, Sony, Huawei and Techno.


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300,000 young Nigerians break World Record with Close Up teeth brushing challenge


A cross section of students participating at the Closeup World Record Teeth Brushing challenge at Teslim Balogun Stadium, Lagos
Over 300,000 young Nigerians gathered at the Teslim Balogun stadium in Lagos, as well as other locations around the state, to participate in the World Record breaking Teeth brushing challenge. The challenge sponsored by leading oral care brand, Close Up toothpaste, in partnership with Lagos State government, Nigerian Dental Association (NDA), HEIT Solutions, Vas2Net & Core Media, saw various school students take part in brushing their teeth at the same time at different locations.

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“Best practice in Corporate Governance positions companies for world class success” – LCA’s Director


It was a gathering of distinguished personalities across sectors at the recent presentation of the book titled ‘Corporate Governance and Group Dynamics’ written by Dr. Fabian Ajogwu (SAN), one of the Board of Directors of the Lagos Court of Arbitration (LCA), an independent and private sector driven centre for resolution of commercial disputes by arbitration and other forms of alternative dispute resolution services, at an event held in Lagos recently.

The book critically examines Corporate Governance as it applies to various groups within organizations. It points out some indices that can help enhance corporate governance from a functional perspective where a company operates within the group structure, stating the strong need for a critical examination of those indices.
Chief Olusegun Osunkeye, President, Society for Corporate Governance Nigeria; Dr. Fabian Ajogwu SAN, Board Member, Lagos Court of Arbitration and Megha Joshi, Executive Secretary and Chief Executive Officer of the Lagos Court of Arbitration at the Book presentation of Corporate Governance & Group Dynamics by Dr. Fabian Ajogwu at Oriental Hotel in Lagos

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CNN’s ‘African Voices’ profiles Nigerian filmmaker, Peace Anyiam-Osigwe ...As she talks about her passion, Nollywood industry and impact on Nigeria


Peace Anyiam-Osigwe, Nigerian filmmaker and founder of the Africa Movie Academy Awards (AMMA)
CNN’s African Voices (airs Friday: 0730; Saturday: 0230; Sunday: 0800, 0530; Monday: 0930, 0430; Tuesday: 0430), a weekly show that highlights Africa's most engaging personalities, will this week feature Nigerian filmmaker and founder of the Africa Movie Academy Awards (AMMA), Peace Anyiam-Osigwe.
After working on several movies and documentaries in Nigeria's film industry, popularly known as Nollywood, Peace Anyiam-Osigwe founded the Africa Movie Academy Awards in 2005. The awards have since grown into one of the most prestigious film award shows on the continent, changing the way Nigerians are seen around the world. Her passion is film; and by turning that passion into a mission, she has given the African continent a voice on the big screen.

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