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OBEDIENCE TO LAW CRUCIAL FOR OUR DEVELOPMENT – SANWO-OLU

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Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, has urged Lagosians to be law-abiding as the State can only prosper in an environment of peace and security.

Sanwo-Olu made the plea today, while speaking during the passing out parade of the Year 2020 graduating participants of the Lagos State Law Enforcement Training Institute (LETI) held at the Public Service Staff Development Centre, (PSSDC), Magodo.

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Speaking through his deputy, Dr. Kadri Obafemi Hamzat, the Governor stressed the need for citizens to always obey the law, adding that his administration recognises the need for an effective security system that promotes a peaceful and prosperous society.
According to the Governor, “Our administration recognises the need for an effective security system as sine-qua-non to a peaceful and prosperous society. This is why Security and Governance represents a key pillar in our administration’s T.H.E.M.E.S agenda. It goes without saying that effective security and safety of lives and property can only be achieved with a qualitative blend of men and materials”.

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The Governor added that in order to further enhance the capacity of the State’s law enforcement outfits, such as the Lagos State Traffic Management Authority, (LASTMA), Neighbourhood Safety Corps and Vehicle Inspection Services among others, his administration established the Law Enforcement Training Institute (LETI) for personnel to acquire expertise in maintaining peace in the State at all times using state-of-the-art equipment and cutting edge knowledge.
He disclosed that part of the re-engineering process was the deployment of technological tools of law enforcement such as Body Worn Cameras (BWC) and Body Shields in the training of the security personnel, stressing that the equipment will further enhance effective law enforcement in line with modern global trends.
Disclosing that the curriculum of the Institute has also been reviewed in response to the challenges and dynamism of the 21st-century law enforcement, Sanwo-Olu said the overall objective is to always be a step ahead of criminals and lawless elements in Lagos.

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He commended the law enforcement officers for their doggedness, courage and tenacity at all times, especially during the recent upheavals that engulfed the whole nation and the State in particular.
The Governor also enjoined the graduating officers to discharge their duties with all due diligence and professionalism, and must be civil in their approach while refraining from any act that would violate the rights of citizens.
Earlier in his address, the State Attorney-General and Commissioner for Justice, Mr. Moyosore Onigbanjo (SAN), who was represented by the Director of Litigation, Ministry of Justice, Mr. Akinkunmi Idowu, enjoined the graduating law enforcement officers to be polite, decent, humane and firm in the discharge of their duties, emphasising the importance of contributing their own quota towards achieving a better Lagos.
He commended the management of the Lagos State Law Enforcement Training Institute for its continued orientation of enforcement personnel towards reducing liabilities of the State for infraction of the law by the enforcers themselves.
Earlier in his welcome address, the Head of the Lagos State Law Enforcement Training Institute, Prince Ifalade Oyekan thanked the State government for supporting the Institute.
He said as a way of enhancing the skills and the training needs of the law enforcement outfits, the Institute has restructured its training module to reflect the peculiarity of each outfit.
Prince Oyekan, therefore, called on the State government to assist the Institute in the provision of more equipment to achieve a 21st Century Law Enforcement workforce.

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Brands and Company

How Jumia stock is rebounding and gaining momentum 

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Commerce

The last four weeks has been that of uplift in fortune for holders of Jumia stock, and the development is rightfully drawing attention of stock-inclined minds:

Fruitful yuletide: The stock sold as high as $47 a day to Christmas and has hovered between $34 and $39 since December 11th 2020. On January 12th 2021, Jumia stock sold at $40 on the floor of New York Stock Exchange.

Unexpected positive turn in fortune: Jumia recorded a 12% drop in revenue in the first three quarters of 2020, but has made a 600% increase in stock price since then.  The best part is that the stock has sustained its good momentum for over a month.

Regret for doubters: Some investors who didn’t buy Jumia stock when it sold for just over $2 in March 2020 are beating up themselves for not taking advantage. Currently trading for just over $40, some holders see an opportunity to sell. But the next few months can also bring huge fortune for those who dare to hold.

 

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Bright prospect: Analysts ascribed the improvement to investors’ belief in Jumia’s potential and are willing to overlook lagging business results for the time being. For instance, a $5,000 investment in Amazon in 1997 will translate to more than $4 million today. The current good performance of Jumia stock is an indication that the brand holds the potential of being a replica of the Amazon story in Africa.

Opportunity for Africans: Jumia prides itself as Amazon of Africa. It could end up being a smart move for Africans who buy into the dream by owning part of a brand that identifies with them.

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Brands and Company

Covid-19 Second Wave: Online Shopping Still Among Measures To Limit Spread – Jumia CEO

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Covid-19

Jumia Nigeria CEO, Massiliano Spalazzi 

As authorities put measures in place to prevent rapid spread of covid-19 in the light of the second wave of the pandemic emanating from mutation variants of the dreaded virus, Jumia Nigeria CEO, Massiliano Spalazzi has highlighted the services of ecommerce platforms as one of the measures to help mitigate the spread among Nigerians.

While speaking on the crucial role and contributions of ecommerce in the present day socio-economic reality in Nigeria, Spalazzi said online shopping will help promote the adoption of social distancing measures and eliminate the contact risk associated with brick and mortar stores, as people can purchase different products of their choice and get them delivered from the safety of their home.

“Online shopping remains one of the ways individuals can take precautions to limit the spread of Covid-19. People are being urged to avoid large gatherings, and limit human contact as much as possible. Ecommerce platforms possess all these features that will help customers keep to the safety culture. From the comfort of their safety, customers can shop on the Jumia platforms, make payment through online payment solutions like JumiaPay and get them delivered via Jumia Express, or our contactless agents,” he said.

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He pointed out the crucial role played by ecommerce platforms during the 2020 Covid-19 lockdown. “What we have seen last year has been how relevant and important e-commerce was in serving the population during these tough times. We’ve seen many different situations happen from the Covid-19, which obliged people to be locked down and having to purchase their goods in a safe way.”

During the first wave of the pandemic, ecommerce platforms served as a veritable channel for brands and businesses to connect with their customers. Global brands such as Coca-Cola, Procter & Gamble, Reckitt Benkiser, Nestle, Unilever and other essential goods manufacturers partnered with Jumia for sales of their products.

Likewise, online retail platforms were key for the survival of food and grocery enterprises when sit-in services were prohibited with customers restricted by social distancing rule. It was a period where more customers boarded the ecommerce food service train and several local restaurants partnered with Jumia to keep their food, beverage and grocery service going during the lockdown.

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Brands and Company

Dangote Cement Successfully Purchased Shares Worth N9.77 Billion

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  1. Dangote Cement Successfully Purchased Shares Worth N9.77 Billion
Dangote Cement has announced the completion of the first tranche of its share buy-back programme.
Dangote Cement Plc has announced the completion of the first tranche
Cement, industry
of its share buy-back programme, as the cement behemoth bought back shares of the company worth N9.77 billion.
This announcement was made by the management of the company, in a recent statement issued and signed by the Deputy Company Secretary, Mr Edward Imoedemhe, today, 11 January 2021.
During the first tranche of the share buyback programme which commenced on Wednesday, 30 December 2020 and ended on Thursday, 31 December 2020, the company on the open market of the Nigerian Stock Exchange purchased 40,200,000 ordinary shares of the company at an average price of N243.02, representing 0.24% of the Company’s issued and fully paid ordinary shares.
What you should know
Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of DCP amounts to 17,000,307,404.
However, the completion of the share buyback programme of the company does not portend any material impact on the Company’s financial position, and the operation of the company as a going concern.

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