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Heritage Bank Director Seeks Sustainable PPP Model For Financing Advertising Sector

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…Commends Lagos State’s smart city project

The Executive Director, Heritage Bank Plc, Jude Monye disclosed that one of the ways out-of-home advertising industry can attain massive growth was via the adoption of public-private-partnership (PPP) model to ensure its sustainability.

He stated this at the 2021 Out-of-Home Advertising Conference and Exhibition organised by the Lagos State Signage and Advertisement Agency (LASAA) in partnership with Heritage Bank.

Monye commended the Governor of Lagos State, Babajide Sanwo-Olu’s administration for the implementation of the smart city plan with the rollout of 6,000km metro fibre optics, which is the requisite infrastructure for the smart city project.

According to the Bank’s director, “if you have deposit money bank, that is the commercial bank coming in with huge portfolio, you will see massive growth in this industry and to crown it all for me, the governor said what I didn’t know of, all the things that the government is doing with the Fibre optic projects which is towards the smart city that LASAA has also shown to us. With that alone, the PPP model, the banks are going to key into funding this so that the industry can grow.”

R-L: Jude Monye, Executive Director of Heritage Bank Plc; Adedamola Docemo, MD/CEO of Lagos State Signage and Advertisement Agency (LASAA); Joe Igbokwe, Senior Adviser to Governor on Drainage services; Tunji Bello, Commissioner of Environment; Hamzat Obafemi, Deputy Governor Lagos state; Belinda Odeneye, Permanent Secretary, Ministry of Environment & water resources; Adenike Adedoyin-Ajayi, PS Ministry of Tourism; Kayode Pitan, MD of Bank of Industry and kunle Adeniran, MD of Vatebra, during the 2021 Out-of-Home Advertising Conference and Exhibition organised by the Lagos State Signage and Advertisement Agency (LASAA) in partnership with Heritage Bank, held in Lagos recently.

He revealed that deposit money banks are careful to lend to the advertising players due to lots of unstructured issues and if tackled, the banks will be willing to lend once they see that the risks in the industry have been reduced.

He, however, stated that the move by Lagos State government for the adoption of digital technology would lead to increased patronage and rev banks’ participation.

“I think lots of unstructured issues that we face and most of the banks that you see on digital media outside is not borne out of the need to advertise because it has not appealled to them, or engaging to their audience, but some of them are just pay back for the loan that they have given,” he stated.

Jude, who reaffirmed that PPP actually was the model, added that there should be a kind of intra-ministerial integrated approach, as this would propel the lending capacity of banks.

Speaking earlier on the topic, “Road map for the Growth of Signage and Out-of-Home Advertisement post-Covid-19 in Lagos,” the Governor who stated that the state was making appreciable progress in the ongoing laying of the metropolitan optic fibre, as well as the installation of smart cameras in strategic locations across the State, affirmed that the technology would help enhance and support the growth of advertising in the Lagos.

Sanwo-Olu, represented by his Deputy, Obafemi Hamzat said his administration would continue to leverage technology to transform the state’s economy while easing impediments for businesses to flourish.

The MD/CEO of LASAA, Adedamola Docemo said the agency would be rolling out policies and programmes that would improve sectoral investment, drive sustainable growth, encourage regular engagement and development of the State.

He stated that with Lagos being the leading state in Out-of-Home advertising investment in Nigeria, the industry has evolved and has consistently contributed its quota over time to the growth and development of Lagos state.

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Dollar To Naira Exchange Rate Today 19 October 2021 (Black Market Rate)

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Dollar to Naira exchange rate today 19 October 2021, black market rate can be accessed below.

JomogNews Nigeria has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

October 19 dollar to naira official exchange rate: $1 dollar to naira = Not published due to Eid-el Maulud celebration

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at N….. per dollar on Tuesday, 19 October 2021, after it closed at N414.73 per $1 on Monday, 18 October 2021. This represents a change of -0.08%.

How much is exchange rate of Dollar to Naira in Black Market today?

The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).

LAGOS PARALLEL MARKET RATES October 19, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 19 dollar to naira black market exchange rate: $1 dollar to naira = N570

The local currency opened at N570.00 per $1 at the parallel market otherwise known as the black market, today, Tuesday, 19 October 2021, in Lagos Nigeria after it closed N572.00 per $1 on Monday, 18 October 2021. This represents a change of $2 from the previous day. This means dollar to naira changed its position from the previous day.

Note: dollar to naira exchange rate has stabilized at N570-575 per $1 since Monday, October 11.

Even though the dollar to naira opened in the parallel market at ₦570 per $1 today, JomogNews Nigeria reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

JomogNews Nigeria reports that the black market, the players buy a dollar for N560 and sell for N570 on Tuesday morning, October 19, 2021 after they bought N568 and sold N572 the previous day. This means dollar to naira changed its position from the previous day.

Meanwhile, JomogNews Nigeria reports that the USD started this week at ₦572 in Parallel Market also known as Black Market on Monday, October 18, 2021 in Lagos Nigeria after it opened N575 last week Monday, October 11, 2021.

Disclaimer: JOMOGNEWS NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

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Heritage Bank blazes the trail by winning multiple awards

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Heritage Bank blazes the trail by winning multiple awards

Heritage Bank Plc, Nigeria’s Most Innovative Banking Service provider emerged winner in several categories at the 2021 Human Resource (HR) People Magazine Awards and at the Finance Correspondents Association of Nigeria’s (FICAN) 30th-Anniversary Conference and Awards.

The bank carted away five coveted awards- HR Champion Award (for MD/CEO, COO), Most Outstanding Engagement Strategy for over 1000 Employees and the HR Leader Award (for Heads of HR).

Others which were awarded by the largest body of financial journalists in Africa, FICAN to Heritage Bank are the duo Platinum Awards presented to the MD/CEO, Ifie Sekibo and Heritage Bank for Outstanding Support towards FICAN and Financial Reporting, respectively.

The bank won the prestigious awards in recognition of the leadership of Heritage Bank in Human Capital Development (HCM) for putting employees first and ensuring that its people management & engagement strategies are second to none, and in celebration of its MD/CEO, Sekibo’s leadership style. The bank was also recognised for Outstanding Support towards Financial Reporting in Nigeria.

This was Heritage Bank’s first time in participating in such an event as HR practitioners, as the financial institution had the opportunity to enter for 3 award categories.

Over 20 established brands from different industry sectors were also said to have participated in the several keenly contested award categories, which cut across various areas of people management and development. Despite the formidable competition and the very rigorous screening process, Heritage Bank emerged as winner in the series of awards won.

Commenting on the awards, the Divisional Head, Human Capital Management, Abike Wesey expressed gratitude to the organisers for believing in Heritage Bank and the leadership of the bank for their support to employees’ welfare.

“We are ecstatic to have received this honour and are extremely grateful for leadership of Executive Management, for giving us wings to fly right in our corner and always willing to listen. It was indeed a remarkable moment for us, as we strutted up the dais, with heads held up high and proud, amidst the cheer & accolades from the HR community, well represented at the event; especially in an event of such calibre, being recognized in a gathering of doyens & captains of Industries for our exceptional accomplishments in a widely acclaimed, challenging year – it was definitely no small feat,” Wesey said.

According to her, “The award and commendations go a long way to show that our people management & engagement strategies are truly working, and we are committed to do more in our world to keep the Heritage flag flying. We identify with our Heritage, because, winning is our heritage.”

The HR Awards is very unique because of its process and organisation. The organisers are usually not aware of the winners till the day of the event, same time the results are revealed per category and award submissions are made on a peculiar website – comparable to none in West Africa.  The judges are respected & prominent former heads of HR, selected from five different countries and from various industries, with cutting-edge experience who judge the contestants on global best practices. //END.//

Ozena Utulu, Ag. Group Head, Corporate Communications

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Dollar To Naira Exchange Rate Today 18 October 2021 (Black Market Rate)

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Dollar to Naira exchange rate today 18 October 2021, black market rate can be accessed below.

JomogNews Nigeria has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

October 18 dollar to naira official exchange rate: $1 dollar to naira = N414.46

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at N414.46 per dollar on Monday, 18 October 2021, after it closed at N414.40 per $1 on Friday, 15 October 2021. This represents a change of -0.15%.

How much is exchange rate of Dollar to Naira in Black Market today?

The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).

LAGOS PARALLEL MARKET RATES October 18, 2021 (BLACK MARKET): dollar to naira exchange rate today black market

October 18 dollar to naira black market exchange rate: $1 dollar to naira = N572

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N572.00 per $1 at the parallel market otherwise known as the black market, today, Monday, 18 October 2021, in Lagos Nigeria after it closed N571.00 per $1 on Friday, 15 October 2021. This represents a change of $1 from last Friday. This means dollar to naira changed its position from last week.

Note: dollar to naira exchange rate has stabilized at N570-575 per $1 since Monday, October 11.

Even though the dollar to naira opened in the parallel market at ₦572 per $1 today, JomogNews Nigeria reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.

JomogNews Nigeria reports that the black market, the players buy a dollar for N568 and sell for N572 on Monday morning, October 18, 2021 after they bought N567 and sold N572 last Friday. This means dollar to naira changed its position from last week.

Meanwhile, JomogNews Nigeria reports that the USD started this week at ₦572 in Parallel Market also known as Black Market on Monday, October 18, 2021 in Lagos Nigeria. after it opened N575 last week Monday, October 11, 2021.

Disclaimer: JOMOGNEWSNIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article.

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