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We didn’t Shut-down, Sack Workers – Innoson

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Innoson

Innoson Vehicle Manufacturing Company Limited (IVM), one of Nigeria’s auto manufacturing outfits, has said it was still producing vehicles with full complement of its workers, and had not shut its plant in Nnewi, as reported recently in various sections of the media.

This was contained in a statement the management of the company issued yesterday in reaction to the publications which purported that the plant had laid-off worker and shut down production over FOREX crises.

Explaining, however, that IVM, like many other manufacturers in the country, was experiencing low production occasioned by scarcity of FOREX to import vital components, the statement signed by the Public Relations and Media Assistant, Cornel Osigwe, assured that the auto maker was hopeful that the Federal Government would soon find a lasting solution to the challenge.

The management faulted part of the erroneous reports which specifically stated: “Nigeria’s major vehicle assembly plant, Innoson Vehicle Manufacturing Company Limited (IVM), has announced its decision to shut down production due to lack of foreign exchange to import vehicle components.”

The IVM spokesman described the reports as “a deviation from the interview (the Chairman of the Innoson Group), Dr. Innocent Chukwuma, granted to Reuters News Agency which was correctly published by them, but was totally distorted by the various news platforms.”

Highlighting what it said was the correct position, the statement added, “Innoson Vehicle Manufacturing Co Ltd (@innosonmotors) has not shut down its manufacturing plant and is not planning to do so. In as much as the company is experiencing low production due to the inability to get the required volume of FOREX to source for its vehicle components outside Nigeria, it still has absolute faith in the Federal Government and the Central Bank of Nigeria’s (CBN’s) ability to fix FOREX scarcity problems.

“Innoson Vehicle Manufacturing Co Ltd has not laid off its staff due to the low activities in production. Rather, what Chief Chukwuma said was ‘I believe they (Federal Government) are doing something but if they can’t do anything, we will lay off some workers,

“Innoson Vehicle Manufacturing Co Ltd believes in the Federal Government’s drive to boost the manufacturing sector and is aware that this presentFOREX scarce challenge is a phase that will soon pass”.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

Ellah Lakes Partner Ondo State Government to Develop Oil Palm, Cassava in the State

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The management of Ellah Lakes Plc said it has partnered with Ondo State Government to develop and manage 5000 hectares of land for the purpose of cultivating oil palm and cassava in Ondo State, Nigeria.

The company stated in a statement signed by Kenechi Ezezika, Company Secretary, Ellah Lakes Plc.

Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in the development of our landbank, & we are very excited to be working with ODSG.

I am delighted that we are fulfilling our strategic objective of progressively expanding our land bank & diversifying our portfolio and production base. I am also glad to say that the intercropping programme in Edo State is progressing steadily & we have achieved our first milestone of 100Hectares of Cassava with the participation of personnel of the Agricultural Development Program (ADP), in Edo State”.

The Special Adviser on Development & Investment to the Ondo State Governor/ Chief Executive Officer of Ondo State Development and Investment Promotion Agency (ONDIPA), Mr. Akinboye Oyewumi, who also spoke on the development said: “We are pleased with this collaboration with Ellah Lakes Plc., and we look forward to a mutually beneficial, valuable and fruitful venture.”

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Unilever Nigeria Appoints Mr Jaime Aguilera as a Non-Executive Director

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Unilever Nigeria Plc

Unilever Nigeria Plc announced it has appointed Mr. Jaime Aguilera as a Non-Executive Director of the company effective from January 2021.

The company stated in a statement filed with the Nigerian Stock Exchange.

Mr Jaime Aguilera worked with Coca-cola, Nestle and Procter & Gamble before joining Unilever as Executive Vice President Unilever Eastern Europe in September 2016.

Therefore, his experience spans from Europe, Americas and Asia.

His key expertise areas are “in Sales & Marketing and he has lead teams in Spain, Brazil, South Eastern Europe, Middle East, Mexico and Global teams.

“In 2009, he joined Unilever Spain as EVP & Chairman and then moved to his current role as Unilever Executive Vice President Africa, leading the Unilever business in Africa. Jaime is of Spanish origin and is an alumnus of the Universidad Pontificia de Comillas- ICADE. Jaime majored in Economic Sciences, Management & Business Administration.”

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MTN Nigeria, Gameloft Partner to Increase Access to Variety of Exciting Games

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MTN Nigeria announced it has partnered with Gameloft, a leader in the development and publishing of games, to increase access to a variety of fun and exciting games online.

The telecommunications giant in collaboration with its new partner, Gameloft announced the launch of MTN Gameworld, a new gaming platform for its subscribers.

According to MTN, the new platform will allow the Nigerian growing gaming community access to a lot of unique games online through an extensive premium catalogue from Gameloft and other renowned publishers.

Commenting on the partnership, Srinivas Rao, the Chief Digital Officer, MTN Nigeria, said, “We are constantly seeking to deliver innovative products that support the aspirations of our customers, whilst delivering superior user experience. This partnership allows us to provide our customers with access to a variety of exhilarating games from Gameloft and other leading publishers at an affordable rate.”

MTN Gameworld will allow subscribed customers access to a variety of games, which they can play at subsidised data rates through the MTN Gameworld app. Android, iOS and Windows phone users can subscribe via SMS, app, web, USSD menu (*447#), 131 USSD menu and any other MTN customer channel.

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