Opening speech and introduction of members of board of directors by @VFDGroup Chairman Olatunde Busari (SAN) #VFDGROUPAGM6
Company secretary Gbeminiyi Shoda read the Notice of the 6th annual general meeting @VFDGroup#VFDGROUPAGM6
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
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
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
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.
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...
...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.
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.
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.
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.
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.
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.