Connect with us

Company News

VFD Group Kicks-off Graduate Trainee Program to Create Opportunities for Graduates

Published

on

VFD Group- Investors King

In the fourth quarter of 2020, the unemployment rate in Nigeria increased to 33.30 percent from 27.10 percent in the second quarter of 2020 according to the Bureau of Statistics. The rate of unemployment in Nigeria continues to increase at an alarming rate and it requires meaningful and tangible actions.

As a socially conscious organization, VFD Group, a proprietary investment company, has kicked off applications for its 2021 Graduate Trainee Program. The programme which is in its 4th edition aims to equip recent graduates with requisite training, development, and emotional intelligence to be able to function in their chosen professional careers. The application opened on Friday, August 27, 2021, and would end on Friday, September 3, 2021.

According to the Group Head, Human Resources, VFD Group, Damola Andah indeed, our commitment to this graduate training program is to help build and sustain talent development and contribute significantly to the nation’s economy in terms of output and employment.

“Building positive and socially conscious ecosystems that ensure we are providing innovative solutions to everyday citizens and entrepreneurs are at the core of what we do at VFD Group. A feat that we have only achieved through the collaborative efforts of a dedicated, hardworking, and talented pool of individuals. We believe in the power and importance of having a great team, and we would ensure they grow, remain fulfilled, and achieve their growth potential with us.”

In the end, young graduates with curious and innovative minds will work alongside the brightest minds in the industry and work on projects that are changing the world and thus help them become future leaders.

Applications opened Friday, August 27, 2021, and Interested candidates can apply for the training on our website.

About VFD Group

VFD Group is a proprietary investment company that focuses on building positive and socially conscious ecosystems by aggregating potentially viable businesses with the objective of creating innovative products and solutions that are accessible to the everyday Nigerian citizen and entrepreneur.

VFD Group was founded by skilled professionals with diverse experience, qualifications and backgrounds. As a team, we identified the gap between both individuals and small businesses and their banking experiences and set out to bridge the divide. We discovered that despite the size of the formal financial sector, the informal sector is greater still and that there are immense opportunities for value creation within this informal sector. Considering that, we developed a business model that allows us to operate in every area of the financial industry through our portfolio, providing Financial Advisory, Asset Management, Currency, Real Estate, Debt Services and Private Funds Management Services, taking deposits and providing loans at very competitive rates. In all our endeavors, we are fully cognizant of the risks that come with pioneering innovation and working within the informal sector.

The diverse backgrounds and combined expertise of our Management and Board have enabled us to develop a versatile team of in-house risk managers, thoroughly enabling us to mitigate these risks.

Founded on the values of integrity and good governance, and built on the strength of innovation and network, the goal of VFD Group is to establish a firm foothold in various ecosystems on the continent through our subsidiary companies.

Continue Reading
Comments

Company News

Meta Fires Employees For Using Office Free Meal Vouchers to Buy Household Items

Published

on

Facebook Meta

The parent company of Facebook, Instagram, and WhatsApp, Meta, has allegedly relieved about 24 staff members at its Los Angeles office of their jobs.

The affected staff were accused of using their $25 (£19) meal credits to buy items such as toothpaste, laundry detergent, acne pad and wine glasses.

It was gathered that the dismissals followed an investigation that revealed the employees had been exploiting the system, including sending food home when they were not physically present at the office.

One of the terminated employees was an unnamed worker earning a $400,000 salary.

Another sacked employee anonymously shared on the messaging platform Blind, explaining how she and her colleagues maximized their dinner credits to buy other necessities when they could get food elsewhere.

The breach was discovered as part of the human resources procedure even though one of the workers admitted to it.

According to reports, employees who occasionally bent the rules received warnings but retained their positions.

Free meals have long been a benefit for employees of major tech firms like Meta, founded by Mark Zuckerberg.

Typically, staff at larger offices, including Meta’s Silicon Valley headquarters, enjoy complimentary meals from on-site canteens.

Employees at smaller locations receive daily food credits, redeemable through delivery services like UberEats and Grubhub, with allowances of $20 for breakfast, $25 for lunch and $25 for dinner.

Continue Reading

Company News

Flour Mills of Nigeria to Invest $1 Billion in Expansion and Restructuring Over Four Years

Published

on

flour mills posts 184% increase in PAT

Flour Mills of Nigeria Plc, a Nigerian diversified agribusiness company, has announced plans to invest $1 billion over the next four years to expand its facilities and restructure the company.

Chairman John Coumantaros, in an interview on Tuesday, said the new funding is about “doubling down on investment in Nigeria.”

This investment will further support President Tinubu’s reform efforts at a time when companies like Diageo Plc and Unilever Plc are exiting or reducing their exposure to the West African nation.

Since coming to power in May 2023, President Tinubu has introduced a series of reforms from allowing the naira to free float to fuel subsidy removal to make the country more attractive to investors and steer it away from fiscal collapse.

According to Coumantaros, $500 million of the total investment will go into its sugar operations in Niger state to boost production from the current 100,000 tons to over 400,000 tons a year.

An additional $100 million will be allocated to a cassava-processing factory to end imports of starch from the tuber and expand its breakfast cereal offerings.

The 64-year-old company will also undergo reorganization following an offer from Excelsior Shipping Company Ltd. last month to buy out minority shareholders at 70 naira per share.

The company plans to restructure its more than 22 units into five individual companies, Coumantaros said.

“We want to be able to attract technical and financial partners to help us grow our sugar operations and food business. We have a lot of ambitious plans for investment and expansion.”

Continue Reading

Company News

Again, NNPCL Fails to Make Port Harcourt Refinery Functional After Several Promises 

Published

on

NNPC - Investors King

The Nigerian National Petroleum Company Limited (NNPCL) has again disappointed Nigerians over the functionality of the country’s refinery in Port-Harcourt, Rivers State.

The Group Chief Executive Officer of the NNPC, Mele Kyari, had in July, this year, stated categorically that the refinery would come into operation in early August.

Kyari’s announcement made it the seventh time the petroleum company would promise Nigerians that the Port-Harcourt Refinery would restart operations.

But the company has not been able to fulfill any of its assurances as at the time of this report, even as the challenges of fuel availability facing Nigeria bite harder.

The NNPC CEO had earlier promised that the refineries would be functional before the end of former president Muhammadu Buhari’s administration in May 2023.

The most recent date was promised by the Chief Financial Officer of the NNPC, Umar Ajiya, who said the Port Harcourt refinery would commence operations in September 2024.

In a recent reply to an enquiry by legal luminary, Femi Falana, SAN, it was noted that the contractor overseeing the rehabilitation of the Port Harcourt refinery, said it would provide details on the project’s completion by or before October 2.

The contractor conveyed this through a law firm, Olajide Oyewole LLP, in response to a letter from a Senior Advocate of Nigeria, Femi Falana, who had inquired about the completion timeline for the refinery’s rehabilitation.

Falana had written to them on September 17 and 24, respectively regarding the contract with the NNPC.

Kyari had informed the Senate recently when he appeared before the red chamber that Nigeria would be a net exporter of petroleum products by the end of the year.

He had informed the lawmakers that it was impossible to have the Kaduna refinery come into operation before December and that it would get to December. He had said similar things of both Warri and Kaduna Refineries.

According to him, Port Harcourt would commence production in early August this year.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending