AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Bigi headlined Nigerian Idol Season 8 retains its previous season judges – Multi-Award-winning music icons; D’Banj, Simi and Obi Asika to accord the show a more exciting and engaging experience, while the renowned IK Osakioduwa, returns as the host of the show.

The organisers – Multichoice, during a press briefing, said by analyzing the trends, that this year’s Nigerian Idol will showcase the incredible talents of young and energetic performers, as well as the stories and inspirations behind their talents. With stunning visuals and state-of-the-art sound, viewers would enjoy pop, rock, jazz and classical entertainment as if they are right there in the audience, experiencing the music first-hand.

Biola Aransiola, Assistant Brand Manager of Bigi, while speaking about the sponsorship said, Rite Foods is committed and always eager to support the discovery journey and promotion of talents as it is a chosen way of giving back to the consumers and resoundingly showing what the carbonated soft drink stands for – “Truly Nigerian; Proudly African”.

“We are delighted to see talents grow and emerge, most especially in Nigeria and more of a reason we’ve been keeping tabs since we started the sponsorship in 2020. Nigerian Idol is a leveraging platform to help hold talents hand-in-hand into stardom as they get the necessary support to keep the ball rolling even beyond the show”, Aransiola stressed.

The brand representative further itemised that Bigi is poised at refreshing fans and show lovers with a lot of thrilling activities as the show lingers with its portfolio of thirteen variants, allowing both contestants and viewers to choose the flavour that resonates with their personalities as they enjoy the moments because ‘Bigi is for every moment’.Nigerian Idol Season 8 will premiere on DStv Channel 197 and GOtv Channel 29 on Sunday, April 23, 2023, at 7 pm. The main live episodes will air weekly afterwards till Sunday, 16 July 2023. There will also be a special channel on DStv – Channel 119 dedicated to the music show.

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Company Secretary and Chief Legal Officer, Ms. Temitayo Adegoke, assured stakeholders and the public that the organisation is diligently working with its auditors, Deloitte, to finalise the AFS by the revised deadline of 30th April 2023. She emphasised that the bank’s commitment to regulatory compliance and transparency remains its top priority.

The letter to the Nigerian bourse further stated that “In continuing compliance with the post listing requirements of the NGX, the previously announced closed period which commenced on 1st of January 2023 will continue until 24 hours after the AFS for the year ended 31st of December 2022 is released on the floor of the Exchange.”

The extension request, due to external factors and new processes, is on the back of the Bank’s impressive financial performance contained in its earlier released unaudited full-year 2022 results, with the bank reporting a 39% increase in pre-tax profits. This achievement marks Sterling’s fifth consecutive year of growth, attributed to customer-focused innovation and the successful execution of the HEART of Sterling strategy. Through strategic investments in Health, Education, Agriculture, Renewable Energy, and Transportation sectors, the bank continues to create value for shareholders and contribute significantly to the Nigerian economy.

Sterling Bank eagerly anticipates new opportunities and, by leveraging regulatory guidance, is well-positioned to capitalise on these prospects within a well-structured framework for long-term growth and success.

Shareholders and the public shall receive by the revised date, a thorough and comprehensive financial report that reflects the bank’s ongoing commitment to sterling performance, excellence, innovation, and growth.

DANGOTE LISTS N300B SERIES 1 AND 2 LARGEST BONDS ON NGX, FMDQ

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Olakunle Alake, Group Managing Director of Dangote Industries Limited told investors during the listing ceremony that the bonds were primarily for part-financing the Group’s 650,000 bpd refinery project. 

He explained that the decision of the Company to issue bonds to raise the required capital for part-financing the refinery project was to encourage the participation of  Nigerians in the financing of the project.  He noted that the bonds remain the largest aggregate local currency bond issuance within a calendar year by any corporate organization in the history of the capital markets. 

Mr. Alake noted that following a very rigorous internal assessment, the management concluded that tapping the local capital markets was inevitable, considering the sheer scale of the project being developed, as well as the existing market volatility. 

He said that while the Dangote Group is not new at raising funds in the local capital markets, being a first-time issuer at the holding company level presented a fresh challenge for the Company.  However, the challenge was one the management was willing to embrace to ensure the desired outcome was achieved. 

According to him: “Today, we are delighted to have successfully completed the largest aggregate local currency bond issuance by a corporate in the Nigerian capital markets within a calendar year. The proceeds from the Series 1 and 2 bond issuances were dedicated to part-financing the Dangote Petroleum Refinery Project which is the initiative by the Group to establish an Integrated Petrochemical Complex, and the largest Single Train Petroleum Refinery in the World.” 

Alake recalled that the DIL recorded another first through the N187 billion series 1 bonds (under the N300 billion programme), being the largest corporate bond ever issued in the history of the Nigerian capital markets and the management was pleased to have set the remarkable milestones, showcasing the depth, resilience and liquidity of the domestic capital markets, whilst reflecting the strong credit quality of the issuer, despite the current global market volatility. 

He said: “The bonds issuances were well received by the market and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies, and high net-worth investors. 

Indeed, the reception of the market was buoyed by the strategic importance of the project and its expected impact on the Nigerian economy. Overall, we strongly believe the success of the Series 1 and 2 bond issuances further demonstrates investor confidence in our credit story and the appreciation of the work done by the Group across several key sectors that are crucial to the development of Nigeria and the continent at large.” 

Alake pointed out that his Company was not new in the business of listing securities on NGX. “We are therefore conversant with all the listing requirements and promise to be prompt and up to date in that regard.  We count on the cooperation and support of NGX and the stockbrokers to meet this important investors’ objective.” 

The DIL Group Managing Director assured that the company would remain resolute in the Nigerian and African story and continue to demonstrate commitment, as one of the foremost pan-African conglomerates, through investments in projects and initiatives that directly improve the quality of lives of Nigerians. “Indeed, these are very exciting times for us as a business, and so we would continue to welcome opportunities to work with stakeholders in the domestic capital markets towards accelerating the economic activities across Africa, whilst maximizing stakeholder returns. 

Also speaking at the event, the lead Issuing House for series 1 of the bonds and the Chief Executive Officer, of Standard Chartered Capital & Advisory Nigeria Limited, Mrs. Yemisi Deji-Bejide, expressed appreciation of her organization to the management of the DIL for reposing so much confidence in Standard Chartered by entrusting it with the responsibility. 

She said: “Every time we gather at FMDQ for the listing ceremony of an issuance by the Dangote Group, it is always a record milestone. Early in 2022, we issued a bond for Dangote Cement which was the largest corporate bond issuance at the time,  and little did we know that a few months down the line, the Group will comfortably break that record. 

Mrs. Deji-Bejide described the success of the transaction as a strong testament to the fact that Investors strongly believe in Dangote Group’s credit story and are willing to continue to support the growth of the business. Also, she said it demonstrated the depth of the Nigerian capital markets and resilience, despite all the volatility in the global markets and the macro headwinds.

“Lastly and most importantly, investors are keen to support impactful infrastructure projects in Nigeria, as the proceeds of the bond are being used to fund the largest single train refinery in the world”, Mrs. Deji-Bejide added. 

Meanwhile, at the Nigeria Exchange Limited where the symbolic gong ceremony was held to commemorate the listing, the Group Managing Director for DIL, Mr. Alake, who was represented by the DIL Group Chief Finance Officer , Mallam Mustapha Ibrahim thanked the investor community for their support for the transaction as well as our various advisors and stakeholders. 

He also commended the Nigeria Exchange Limited (NGX) for its unwavering support throughout this entire process of issuing and listing the bonds as well as their continued commitment towards deepening the Nigerian capital markets.