Singer EnoDan, Signs Deal with TSL Nigeria

A big congratulations to Gospel singer, EnoDan, on her new deal signed under the management of TSLNigeria; one of the biggest branding and digital agencies in the country.

On the 22nd of February, the singer was welcomed into the family and she assured the brand of her commitment as well as a positive representation of the brand’s image.



EnoDan Ayenor Daniel Edun (nee Dorsu) is a Gospel recording artiste and singer/songwriter. Although she hails from Delta State, EnoDan grew up in Edo State. She started her musical carrier as a chorister, at the age of 7.



She is happily married with three lovely children. Some of EnoDan’s songs include; ‘Spirit Move’, ‘My God’ and many more.

TSLNigeria, is duly committed to working with and developing EnoDAn into a well-sought after brand, through diverse branding strategies.

CBN set to sell 722bn treasury bills in third quarter

The Central Bank of Nigeria (CBN) disclosed its plans to sell N722 billion worth of Treasury Bills (TBs) in the third quarter this year.
This development was made known by the apex bank last weekend, in its Nigeria Treasury Bills Issue Programme for Q3’21.

The Treasury Bills (TBs), are used by the Central Bank to control the supply of money in the nation, as well as the regulation of the economy.

The Central Bank of Nigeria stated that the TBs would be issued in tranches with the first tranche rolled out on June 3, 2021, while the last tranche is scheduled for August 28, 2021.

During the stated period, CBN is set to issue TBs worth N41.35 billion on 91 days tenor, N151.13 billion on 182 days and N529.68 billion on 364 days.

In the month of June, CBN plans to sell N106.1 billion worth of TBs, comprising N7.26 billion worth of 91 days bills, N9.52 billion worth of 182 days bills, and N89.32 billion worth of 364 days bills.

July’s target by CBN includes the sale of N407.34 billion worth of TBs comprising N22.53 billion worth of 91 days bills, N92.84 billion worth of 182 bills and N291.97 billion worth of 364 days bills.

For the month of August, CBN plans to sell N208.68 billion worth of TBs comprising N11.55 billion worth of 91 days bills, N48.76 billion worth of 182 bills and N148.37 billion worth of 364 days bills.

MTNN lifts trading on NGX by 0.15%

Trading activities on the Nigerian Exchange rebounded on Wednesday, with a gain of 0.15 per cent due to interest in MTN Nigeria Communications (MTNN).

Specifically, the All-Share Index increased by 57.41points or 0.15 per cent to close at 38,564.70 from 38,507.29 achieved on Tuesday.

Consequently, the month-to-date return increased to 0.3 per cent, while the year-to-date loss moderated to 4.2 per cent.

Similarly, the market capitalisation rose by N30 billion or 0.15 per cent to close at N20.099 trillion against N20.069 trillion posted on Tuesday.

The market upturn was driven by price appreciation in large and medium capitalised stocks amongst which are: Seplat, MTNN, Africa Prudential, Unilever and United Bank for Africa.

As measured by market breadth, market sentiment turned positive with 27 gainers against 21 losers.

Cornerstone Insurance dominated the gainers’ chart in percentage terms with 10 per cent to close at 55k per share.

Morison Industries followed with 9.68 per cent to close at N1.36 and Learn Africa rose by 6.52 per cent to close at 98k per share.

Africa Prudential appreciated by 5.79 per cent to close at N6.40, while Courteville Business Solutions garnered five per cent to close at 21k per share.

On the other hand, Abbey Mortgage Bank led the laggards’ chart in percentage terms with 9.52 per cent to close at 95k per share.

Consolidated Hallmark Insurance trailed with 9.46 per cent to close at 67k, while CWG shed 7.26 per cent to close at N1.15 per share.

Wapic Insurance dropped 7.02 per cent to close at 53k, while Regency Alliance Insurance depreciated by 6.25 per cent to close at 45k per share.

Also, the total volume of shares traded increased by 1.81 per cent to 302.72 million shares valued at N2.81 billion exchanged in 4,387 deals.

This was in contrast with 297.35 million shares worth N3.65 billion transacted in 4,402 deals on Tuesday.

Transactions in the shares of Sterling Bank topped the activity chart with 37.47 million shares valued at N57.83 million.

Ecobank Transnational Incorporated followed with 27.39 million shares worth N142.47 million, while Wema Bank traded 27.15 million shares valued at N15.002 million.

Guaranty Trust Bank sold 26.49 million shares worth N745.34 million, while Japaul Gold and Ventures transacted 22.14 million shares valued at N11.04 million.

SEC targets $85bn global social bonds market

The Securities and Exchange Commission, SEC, has commenced moves to ensure  that Nigeria and Nigerians benefit from the fast growing global social bonds market currently estimated  at $85 billion.

Social bonds are types of debt issues which proceeds are exclusively deployed to finance or refinance projects aimed at addressing or mitigating a specific social issue and/or seek to achieve positive social outcomes for a target population, usually people living below the poverty line.

Consequently, the Commission yesterday proposed new rules that would guide intending issuers of the bonds.

Among other things, the new rules stated that qualifying projects must promote either affordable basic infrastructure, including clean drinking water, sewers, sanitation, transport, and energy among others.

The projects should also promote access to basic services (health, education and vocational training, healthcare), affordable housing, job creation including through the potential effect of small and medium-sized enterprises financing and microfinance as well as food security and socioeconomic advancement and empowerment.

The proposed rules also stated that  eligible projects should also target people living below the poverty line, excluded and/or marginalised populations and/or communities, vulnerable groups, and with disabilities.

Other beneficiaries, according to the rules include migrants and/or displaced persons, undereducated population and underserved population due to lack of access to essential goods and services.

The Commission said: “The volume of social bonds issued in 2020 has increased eight times from a year ago, as interest in ethical investment rises and more governments and agencies see them as a key funding tool for specific projects. “Issuance of social bonds has surged to $85 billion this year so far, compared with $10.6 billion in the same period of 2019.

The popularity of social bonds has increased as the COVID-19 crisis has led investors to place more emphasis on the “social” component of environmental, social and governance-driven (ESG) investing.

“Governments, people and businesses have suffered a serious financial crunch as a result of the COVID-19 Pandemic. In Nigeria, funding of social projects was affected as resources were diverted to unexpected areas of expenditure which ordinarily could have been financed by issuance of social bonds.”

FOREX: Turnover in I&E rises by 132% to $2.6bn

The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the Nigerian foreign exchange (forex) market rose sharply by 132 per cent month-on-month (MoM) to $2.6 billion in May, 2021 from $1.12 billion in the preceding month of April.

Financial Vanguard analysis of daily transactions in the window as published by FMDQ showed that on a weekly basis, the turnover stood at $467.97 million in the first week of May. 

In the second week turnover fell by 29 per cent to $334.36 million from where it rose by 53 per cent to $511.37 million in the third week. 

The upward trend continued in the fourth week  as turnover rose sharply by 142 per cent to $1.24 billion despite   the official devaluation of the naira in the Nigerian Autonomous Foreign   Exchange (NAFEX) to N410 per dollar from N376 per dollar by the Central Bank of Nigeria, CBN, during the week.

However, turnover stood at  $100.77 million on the last day of the fifth week.

Meanwhile, the naira depreciated by N2 in the I&E window in May as the indicative exchange rate for the window rose to N412 per dollar on May 31st from N410 per dollar on 4th of May.

On the other hand, the nation’s external reserves fell by $639 million in May. Data from the CBN showed that the reserves fell to $34.242 billion on May 31st from $34.881 billion at the end of April 30th. Overall, the reserves have fallen by $950 million since the beginning of the year.

Policies to curb cyber attacks is advancing – NITDA DG

The Director-General of the National Information Technology Development Agency (NITDA), Mallam Kashifu Inuwa Abdullahi, says the Nigerian Government has put in place policies that will curb the menace of cyber-attacks in the country.

Abdullahi, who spoke during a Webinar in commemoration of NITDA at 20 organised by Digital Jewel with the theme: “Cyber Risk and Cybersecurity” for Cloud Governance and Security, Cybersecurity Trends, Threats and Failsafe measures, said that Cybersecurity is very essential for the Digital Economy and Digital Transformation within the government, thus making the cyberspace secured by building the confidence of citizens.

Abdullahi, listed the policies as Cybercrime (Prohibition, Prevention, etc) Act 2015, National Security Agency (NSA)’s Computer Emergency Response Team, NITDA’s Computer Emergency Response Team (MDA’s), Central Bank of Nigeria (CBN)’s Computer Emergency Response Team (Financial), Nigerian Communications Commission Computer Emergency Response Team (Telecommunication), Defense Space Administration (Navy, Army, and Air Force).

He also stressed that NITDA’s Computer Emergency Response Team (CERRT), has been playing a critical role towards curbing the menace of cyberattacks through prompt awareness, cybersecurity tips, monitoring intrusion, leveraging trusted resources, and implementing a response plan for Ministries Departments and Agencies (MDAs).

“Cybersecurity is a shared responsibility and requires the attention of a broad range of stakeholders. It requires an effective public and private partnership that incorporates businesses and institutions of all sizes along with national, state, local, tribal, and territorial agencies to produce successful outcomes in identifying and addressing threats, vulnerabilities, and overall risk in cyberspace,” he added.

“NITDA Strategic Roadmap and Action Plan 2021-2024 is anchored on seven strategic pillars; Developmental Regulations which focuses on indices needed to move Nigeria on the eGovernment Index. “Some of these regulations are regulatory instruments, guidelines, and frameworks that prepare Nigeria for this journey”, he said.

He further stated that Digital Literacy is a pillar that focuses on the capacity building of eGovernment services, noting that it is important to build people’s capacity on the proficient use of digital services.

He described Digital Transformation as another pillar that uses digital technology for operational excellence in governance and to enhance transformational delivery of traditional government services.

“Digital Innovation and Entrepreneurship and Promotion of Indigenous Contents are strategic pillars basically involves the maximum empowerment and use of local innovations to come up with indigenous made solutions for the Nation,” he added.

For him, Emerging Technologies are pillars that encourage the citizenry to develop and adopt strategies for emerging technologies. He said that some of the emerging technologies are foundational techs that cut across so many industries like the blockchain, artificial intelligence, and robotics.

Also, the Managing Director/Chief Executive Officer, Digital Jewels, Ms. Adedoyin Odunfa, commended NITDA for the various initiatives put in place, towards the growth and development of Information Technology across the country, changing the way things are done.

She said ‘‘the top 2021 Cybersecurity threat prediction from the Rise of Ransomware which every employee susceptible to a ransomware attack regardless of role, Remote workforce exploitation an employee working from home the temptation for hackers to target remote vulnerabilities will rise, and ineffective Cyber Hygiene which weekly scan should be done to ensure nothing is left exposed on the computer.’’

“Our biggest threats arise from people, while our biggest assets are our people in other to achieve our goals and objectives towards a successful project or program,” she said.

Assistant Director Cybersecurity Department, Mr. Yahuza Ahmed, while making his presentation said that Ransomware attack is on the increase, which is affecting the operations of internet activities around the world.

He cited the KIA Motors attack as an example that occurred some months back by Ransomware activities which affected the activities of the company.

“Critical Infrastructure attacks, the dark side hacker group behind the colonial pipeline Ransomware attack which has lead to low supply of petroleum Premium Motor Spirit (PMS), affecting the activities of the country due to the attack,” he added.

Ahmed said that Government organizations that provide services like National Identity Management Commission, Galaxy Backbone, etc, need to check delivery channels, online presence, mobile presence, Automated Teller Machines (ATM) to improve services that are being rendered to the general public.

Bears dominance stretches as GTBank, BUA Cement drive losses

Acccording to Investment analysts, bears dominance in the domestic equities market, will continue this week even as Guaranty Trust Bank, BUA Cement Plc and Flour Mills of Nigeria Plc, drove the 0.18 percent loss recorded last week.

They posited that the market lacks a positive development at the moment to pull it out of the red zone after the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) retained interest rate at 11.5 percent.

Meanwhile, the bears had last week continued to dictate the mood in the local bourse as the market suffered its second consecutive weekly loss.

With the exception of the last trading day, the local bourse recorded losses in all of the week’s trading sessions.

Specifically, the benchmark All Share Index (ASI) fell by 0.18 percent to 38,256.95 points following 5.1 percent, 4.3 percent and 3.0 percent decline in Flour Mills of Nigeria Plc, GTBank Plc and BUA Cement Plc respectively.

The market capitalisation of all listed equities declined by the same margin to close at N19.940 trillion.

Sectoral performance was mixed as three of the five sectors recorded losses, while two appreciated.

The banking sector led the losers, dropping by 1.8 percent, following by the industrial goods sector (-0.4%), and consumer goods sector (-0.1%).

Investment analysts at Cordros Capital, said “We still expect a choppy theme in the week with the bears dominating proceedings in the absence of positive triggers to spur a bullish performance.”

They advised investors to invest in fundamentally sound stocks considering the fragility of the macroeconomic environment.

For analysts at Cowry Asset Management, the domestic equities market will trade sideways “as investors rebalance their portfolio in favour of high dividend paying stocks with good fundamentals.”

On the flip side, the insurance and the oil and gas sectors rose by 1.0 percent apiece.

In-Depth Industry & Ecosystem Analysis

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.

5 Questions for Connected Product UX

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.

Augmented Reality Platform By Google

Whether you are building an enterprise web portal or a state-of-the-art website, you always need the right modern tools. Well-built and maintained PHP frameworks provide those tools in abundance, allowing maintained PHP frameworks provide those tools in abundance, allowing developers to save time, re-use code, and streamline the back end. As software development tools continuously change to follow the latest. Despite the competition from startups and the ever-present economic challenges, the banking industry is gradually adopting what the latest technologies have to offer.

From cloud technology to cyber risk management to machine learning in investment banking, join us as we explore the banking industry trends for 2019 and beyond. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Cloud Technology as New Foundation

Cloud has become the new normal for nine of ten enterprises across industries. The average IT environment in both SMBs and larger companies is becoming increasingly cloud-based. Companies also diversify their delivery models, with Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) gaining more and more traction. Plus, a slew of new job positions have emerged to manage different aspects of cloud in the enterprise, including architecture and safety.

One of the new trends in the banking industry, ensuring fail-safe security will also be a core question regardless of the type of a cloud solution and its scale. Cloud is one of the current banking industry trends as well. It is expected that the technology will serve as a foundation for core modernization of banking organizations.

Risk Management Banking Industry Trends

Existing risk management systems at banking organizations might not be ready to face the challenges of the rapidly changing world. Poised to become the top banking industry trends for 2019 and years to come, AI-driven solutions with machine and deep learning algorithms provide a solution. As for cyber risk management, experts at Deloitte point at the following trends in the banking industry:

  1. Strengthen basic controls like IT asset, patch, and vulnerability management to identify and manage risks related to implementation of cloud and migration to open architecture.
  2. Use analytics tools and AI with security in mind.
  3. Build an IT infrastructure with security as a top priority: it should be able to withstand systematic attacks and long stress periods.
Risk Management Banking Industry Trends

Fintechs and nonbanks now have a substantial influence in the banking industry. They are highly agile, innovative, and aim at exceeding the demands of modern customers in banking services and experiences. Established retail banks need to compete and often play catch-up. Still, they acknowledge the need to change, and change fast.

There are no secrets to success. It is the result of preparation, hard work, and learning from failure.

– Paul Tournier

Thus, adopting the same approach is a potent solution for retail banks that aim at adopting the latest trends in the banking industry quickly and impactfully.