Nigerian Breweries Plc, the leading brewing company in the country, has demonstrated its strong commitment to the promotion of intellectual talent through the sponsorship of the Lagos International Poetry Festival, which attracts poets from across the world.
The five-day festival, the fourth in the series, with the theme “Wide Awake”, got off the ground on Wednesday, October 31, 2018, at the Freedom Park, Lagos.
Managing Director of Nigerian Breweries Plc, Mr. Jordi Borrut Bel said that, in line with the company’s philosophy of “Winning with Nigeria”, it recognised that the arts play an important role in the strengthening of the cultural values of the society.
Borrut Bel stated that the sponsorship of the Lagos International Poetry Festival remains a significant part of a broad spectrum of NB Plc’s initiatives, which cover areas such as health, water, education, talent development and youth empowerment.
He affirmed that poetry is a tool for the reengineering of society towards the objective of achieving progress, explaining that it does not only interpret society or serve as its mirror, it also helps the people to imagine better ways of living together.
“With the sponsorship of this festival since its inception in 2015, we believe we can help to contribute to the breeding of young, emerging talent, engender conversations on critical issues and create a shared performance space for poets across the country and the world,” he said.
This year’s theme examines the rousing wave of discontenting voices that tip political and social power structures from the global North to the South and reinvigorate conversations on accountability, transparency and social justice.
On his part, the Founder/Director, Lagos International Poetry Festival, Mr Efe Paul Azino commended Nigerian Breweries for the enormous resources put together to make the festival a success, like it did in the past editions.
He stated that in the past four years, the Lagos International Poetry Festival has had 24 workshops and over 250 guests that have amazed the audiences through poetry.
Azino explained that part of this year’s edition is to remember tradition and bring the old and young poets together to express their voices on contemporary issues.
During the opening ceremony, Lebo Mashile, the edition’s Poet-in-Residence from South Africa, thrilled the audience with performances that portray Africa’s social and ethical values.
Over the years, Nigerian Breweries has sponsored several art focused initiatives such as the partnership with the African Artists’ Foundation to sponsor the National Art Competition, the Farafina Trust to sponsor the Creative Writers’ Workshop as well as the recently concluded Heineken Lagos Fashion and Design Week.
GTBank Releases Q1 Unaudited Results, Reports Profit Before Tax Of N57.0Billion
Zenith Bank Plc Sustains Market Dominance with Improved Profitability
In the first quarter ended 31 March 2019, Zenith Bank Group recorded improved numbers across key metrics, driven by a solid performance in all business segments. This resulted in a Profit before Tax (PBT) of ₦57 billion, representing a 6% growth over the ₦54 billion achieved in the corresponding period in 2018. The Group’s on-going commitment to cost optimisation on the income statement and statement of financial position ensured earnings per share increased by 7% to ₦1.60 compared to Q1 2018.
The growth in net interest income and operating income by 23% and 1% respectively mitigated the decline in gross earnings. The effective management of cost-to-income ratio, cost of funds and cost of risk offset top-line declines to deliver an enhanced operating income in the period.
Our risk and asset quality continues to improve as cost of risk dropped significantly by 52% from 0.9% in the prior year to 0.4% for the period. This was achieved as impairment charges declined by 54% (₦2.5 billion year on year reduction). Our cost of funds also improved, declining by 25% from 4% in Q1 2018 to 3% at quarter-end. This was supported by a 22% decrease in interest expense of ₦10 billion over the same period, affirming the Group’s robust treasury and liquidity management. Our prudent cost management led to a 5% decline in our cost-to-income ratio by 5% from 53.3% in 2018 to 50.9% in the period with an absolute reduction in operating expenses by ₦2.3 billion year-on-year.
The Group’s retail franchise continues to increase as retail deposits grew by N80bn between December 2018 and March 2019 representing a 9% growth notwithstanding the fact that total customer deposits dropped marginally by 3%. The drop in customer deposits was as a result of rebalancing of the deposit mix as expensive purchased deposits were forgone in favour of cheaper and stickier retail deposits.
The volume and value of transactions across our electronic and digital platforms continue to grow as new customers are being acquired. Our balance sheet continues to strengthen as liquidity ratio is at 66.7%, loan to deposit ratio closed at 43%, and capital adequacy ratio ended the period at 25% respectively and remain above the relevant regulatory thresholds as at 31 March 2019.
Going into the rest of the year and with improving economic fundamentals, we are confident of delivering value to all our stakeholders on our commitments even as we create more opportunities for businesses by supporting them through selective risk asset creation. We shall continue our investments in the retail segment of the market as we consolidate our leadership position in the corporate segment while maintaining a strong balance sheet.
A Woman’s Signature goes on Naira for the first time in 59 years
Central Bank of Nigeria, CBN has broken history, as a woman’s signature first time in Nigeria’s 59-year history, is inscribed on the Naira.
Priscilla Ekwere Eleje, who has been acting director of currency and operations at the Central Bank of Nigeria (CBN), has been confirmed, substantive director of the apex bank.
She is the first female director of currency in the history of the bank, and her signature has been appended on the naira — breaking another glass ceiling.
Ladi Kwali, Nigeria’s foremost potter, is the only woman on the naira, taking a spot at the back of the N20 note.
Every naira note in the country’s history — save the N20 note — has had the face, name, and signature of a man, up until now.
Denrele Edun shares throwback Photo of how it all started for him
Kim Kardashian & her Lawyer, Shawn Holley honoured for their Prison Reform work
Jussie Smollet facing Night Terrors
Entertainment Icon, John Singleton hospitalised after suffering stroke
Oritsefemi & wife, Nabila celebrate 2nd Wedding Anniversary
Nigeria’s Publiseer To Feature At Katapult Future Fest 2019 in Norway
Chris Brown & Nicki Minaj to go on tour together
Singer, Adele separates from her husband, Simon Konecki
Reno Omokri kisses Michael Jackson’s statue in far away Austria
Troops of Operation Whirl Stroke Neutralise 2 Armed Bandits
News8 months ago
Calm returns at Maiduguri Airport after Soldier’ gun protest
News4 months ago
Video: Fire engulfs Forte Oil filling station at Local Airport in Lagos
Business8 months ago
Photos from Tony Elumelu’s Mother’s 90th birthday party
News2 months ago
Gas Explosion kills six, over 20 trapped at mine in South Africa
News6 months ago
Angola sets to close down unregistered churches
Politics1 year ago
Nigerian judges burdened with too many cases — Ajimobi
Business1 year ago
Jim Ovia pledges ₦250m to Lagos State Security Trust Fund
General8 months ago
‘World’s hottest grandma’ Gina Stewart topless in a Jacuzzi