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May 31 15 tweets 9 min read
Watch this space for live updates of the @VFDGroup 6thAGM #VFDGROUPAGM6

#Thread Image
Opening speech and introduction of members of board of directors by @VFDGroup Chairman Olatunde Busari (SAN) #VFDGROUPAGM6 Image
Company secretary Gbeminiyi Shoda read the Notice of the 6th annual general meeting @VFDGroup #VFDGROUPAGM6 Image
We are proposing a dividend of N10.79 per ordinary share, based on the groups strong performance and dividend policy. #VFDGROUPAGM6
@VFDGroup we recorded our highest gross earnings with growth at 49.4% year on year to N9.9bn (2020: N6.7bn)
#vfdgroupagm6
Deloitte & Touche auditors mentioned the group @VFDGroup has kept proper books of account, so far as appears from our examination of those books.
#VFDGROUPAGM6
Mrs Katherine Nwosu reading voting guidelines to shareholders @VFDGroup #VFDGROUPAGM6 Image
We are creating an ecosystem unlike any other. Our ecosystem provides a mechanism for entities to leverage technology and improve operations efficiency through shared services. - @NonsoMOkpala GMD @VFDGroup
We will be introducing an award for best MD of unit company @VFDGroup - Olatunde Busari (SAN)
@NonsoMOkpala Group Managing Director @VFDGroup responding to questions from shareholders #VFDGROUPAGM6 Image
Shareholders voted to declare a dividend of N10.79 per ordinary shares… #VFDGROUPAGM6 Image
Shareholders approved the appointment of the following directors:
1. MR Kelvin Orogun
2. MR Femi Akinware
3. MR Folajimi Adeleye
4. MR John Okonkwo
5. MR Olanipekun Osinowo

#VFDGROUPAGM6 @VFDGroup
@VFDGroup #VFDGROUPAGM6 thank you for joining us.
@VFDGroup CEO of the year award 🥇 goes to MR Kanayo Eni-Ikeh CEO @AtiatLeasingLtd ImageImage

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More from @Nairametrics

Jun 2
Why Elon Musk’s Starlink is a big deal for Nigeria

Elon Musk announced via a tweet that the government of Nigeria has approved Starlink as an Internet Service Provider (ISP).

Thread

1/17 Image
What is Starlink?

Starlink is a high-speed internet access delivered via low earth orbital satellites (LEO).

A Starlink device can be set up and receive fast internet in less than 30 mins.

2/17
Benefits of Starlink

Speed

Speed is a crucial advantage of Starlink. With faster internet services, more internet applications can become operational in Nigeria.

Ookla indicates that the average mobile internet speed via cellular is 17.38Mbps, while fixed internet..

3/17
Read 17 tweets
Jun 1
A year ago, the Naira was trading at N503/$1. Today, it’s at a new high of N610/$1.

This time last year the exchange rate between the naira and dollar was about 503/$1.

A Thread

1/12 Image
At the time Nigerians were astonished as no one ever believed the exchange rate will depreciate this bad.

The last time the exchange rate had crossed N500 was in early 2017 when it breached that ceiling only to come crashing down after the CBN launched the...

2/12
...Investors & Export (I&E) window.

Fast forward to today, the exchange rate is N610/$1, with over N100 added within a year.

It’s an astonishing development which seems unlikely to abate anytime soon.

3/12
Read 12 tweets
May 31
Mutual Funds - The Future of Investing

A decade of pension fund growth in Nigeria has prepared the ground for a boom in the country’s mutual fund sector.

Investments in carefully constructed higher performing risk-managed funds now outperform interest on bank deposits and... Image
...even land.

In 2020 alone, for example, assets under management in Nigeria’s Mutual Funds grew by 50% - topping N1.6 trillion.

Mutual funds are investment funds that pool money from many investors to purchase securities, like stocks, bonds, money market instruments,....
....and other assets.

Mutual funds are operated by professional money managers who seek to assemble the right mix of funds, balancing risk with growth according to investors’ risk appetite, growth needs and investment horizons.

It is in the management of these funds that...
Read 4 tweets
Mar 3
On February 27, @MTNNG officially celebrated its groundbreaking brand refresh at the Eko Hotels & Suites Grand Ballroom, Lagos.
The newly-transitioned technology company announced that it has repositioned its brand with the use of a contemplative slogan — “What Are We Doing Today?”.
MTN now features a most striking identity change with a new, minimalist logo, featuring the iconic logo transformed to a solid outline and with ‘MTN’ nestled in it on a distinctive sunshine yellow background.
Read 7 tweets
May 11, 2021
𝗛𝗼𝘄 𝘁𝗼 𝘀𝘂𝗿𝘃𝗶𝘃𝗲 𝗡𝗶𝗴𝗲𝗿𝗶𝗮’𝘀 𝗴𝗮𝗹𝗹𝗼𝗽𝗶𝗻𝗴 𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻 𝗿𝗮𝘁𝗲.
An undisputed certainty is that individuals that hold a large percentage of their assets in cash will experience a loss because of inflation.

Credit: @ubahjc
Nigeria’s inflation rate continues to uptick rapidly. Over the trailing 20 months, the year-on-year inflation rate has increased from 11.02% in August 2019 to 18.17% in March 2021.

Notably, March 2021 inflation rate of 18.17% is at the highest since February 2017.
As has been acknowledged by the Central Bank of Nigeria in its Q4-2020 economic report, a major driver of Nigeria’s current inflation is food price inflation which was 22.95% (March 2021). This is the highest level of food price inflation over the past fifteen years.
Read 30 tweets
May 10, 2021
𝗛𝗼𝘄 𝘁𝗼 𝗶𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗡𝗶𝗴𝗲𝗿𝗶𝗮𝗻 𝗘𝘂𝗿𝗼𝗯𝗼𝗻𝗱𝘀.
Before #investing in Eurobonds, weigh the bond’s risk characteristics and set them against the interest rate to know if it is worth it.

Credit: @ChikeOlisah
As of 2019, Nigeria’s Eurobonds were regarded as one of the top 5 best-performing Eurobonds in the world.
Although Nigeria’s Eurobonds remain one of the most profitable in the investment world, not many individuals know how to invest in them.
The Federal Government and a number of corporate organisations in the country subscribe to #Eurobonds and issue them quite often, lending credence to their attractiveness as an investment tool.
Read 24 tweets

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