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Ogun has Largest Number of Funded Estates in South-West —FMBN

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  • Ogun has Largest Number of Funded Estates in South-West —FMBN

Ogun State has the largest number of funded estates in the entire southwest, the Managing Director of Federal Mortgage Bank of Nigeria, Mr Ahmed Dangiwa, has said.

Dangiwa, made this known at an enlightenment programme for the re-admission of Nigeria Union of Local Government Employees and members of the Nigerian Union of Teachers into the National Housing Scheme in Abeokuta.

Dangiwa who was represented by Deputy General Manager, Field Office Coordination Group, Mr Sunday Ogunmuyiwa, said about N500m had been refunded to 4,858 retirees, who were contributors to the National Housing Fund in Ogun State, among many other achievements.

He said, “Under the FMBN Home Renovation Loan, over N283m has been disbursed to 354 beneficiaries in the state. A housing estate project at Laderin Phase 1, in the state is funded by FMBN through the disbursement of loans to 171 beneficiaries while the ministerial plots scheme at Ajebo, is also funded by the bank.

“It is on record that Ogun State has the largest funded estate in the entire Southwest. Other estates include Rockview Estate in Abeokuta; Sparklight Estate, Ibafo; Davids Court, Arepo; Master Golden and Evangel Estates in Ofada; New Creation Estate and Noah Pavilion, Mowe; Oba Sikiru Adetona Estate, Ijebu; and Metro Park, Abeokuta, among others.”

He said the FMBN, empowered by law to manage the NHF, had the responsibility to provide long-term loans to contributors to buy, build and renovate an existing residential accommodation.

He stated that the bank would ensure that Nigerians who contributed to the NHF benefitted more in President Muhammadu Buhari’s housing scheme.

According to him, the bank has scrapped equity contribution for houses costing not more N5m, while loan request above N5m but not more than N15 m attracts 10 per cent equity.

The Chairman, NUT, Ogun State, Titilope Adebanjo, commended FMBN for the success stories recorded in the state.

He, however, appealed to the state government to further reduce the cost of obtaining titles so as to facilitate the creation of more mortgages in the state.

The Chairman, NULGE, Olatunji Ayuba, said President Muhammadu Buhari should be commended for being faithful to his policies through the FMBN.

The State Coordinator for FMBN, Abeokuta office, Mr Babatunde Oyeyinka, stated that the bank was ready to serve contributors in the state and beyond.

He said the bank had gone digital which meant that the issue of passbook would soon be phased out, adding that housing scheme would remain open to all Nigerians in the public and private sector.

“I encourage all Nigerians above 19 years, especially in Ogun State and working in the public and private to register with the FMBN and subscribe to NHF.

The Director of Administration, Agric Cooperation Development, Mrs Dada Grace, while commending the bank for living up to expectations, adding that this, had given credibility to the FMBN.

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.

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Pharmaceutical Industry M&A Activity Grew by 17% in H1 2020 amid 56% Drop in Deal Value

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Pharmaceutical Industry M&A Activity Rose by 17% in the First Half of 2020

According to the research data analyzed and published by ComprarAcciones, merger and acquisition (M&A) deal activity in the pharmaceutical sector rose by 17% in H1 2020, disregarding the economic toll of the global pandemic.

It saw a total of 41 deals during the period, but the Q2 2020 deal value total of $3.3 billion was the lowest quarterly total since Q1 2018.

According to PwC, the pharma subsector posted a drop of 56% in deal value from H2 2019 to H1 2020. For the PLS sector as a whole (pharma, biotech and medical devices), the decline in deal value was a massive 87.2% during the same period.

Pharma and Life Sciences (PLS) M&A Total Deal Value Sank from $272.9B to $35B YoY

The total deal value for the pharmaceutical subsector in H1 2019 was $100.1 billion. In contrast, its total deal value in H1 2020 was valued at $7.7 billion.

The PLS sector had a total of 99 deals valued at $35 billion in H1 2020. In H2 2019, the figures were higher, with 129 deals valued at $86.5 billion. H1 2019 was even bigger, with 119 deals valued at a remarkable $272.9 billion.

Meanwhile, for the healthcare industry as a whole, H2 2020 started off with 13 deals valued at $1 billion+ according to S&P Global.

On the other hand, based on a report from Global Data, the global M&A deal value started on a downtrend in Q1 2020. It went from $151.2 billion to $129.9 billion from February to March. Another study from S&P Global shows that the decline carried into Q2 2020, with a 35% drop in deal volume. Similarly, total transaction value dropped by 40%, the highest drop since 2015.

Comparing H1 2020 to H2 2019, the total deal volume sank by 32% year-over-year (YoY) from 10,155 deals to 6,938 according to Merger Market. Deal values sank by 53%, from $1.9 trillion to $901.6 billion during the same period.

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Lagos State to Support Businesses Looted by Hoodlums

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Lagos State to Support Businesses Vandalised and Looted by Hoodlums

Lagos State has announced plans to support businesses looted and vandalised by hoodlums last week.

The Deputy Governor of the stated, Obafemi Hamzat, made this known in a series of tweets put out on Friday.

He directed businesses vandalised in the state to fill a form attached through the link below.

“If you are a Lagos based business and your store got looted/vandalized this week, please fill this form by @LSETF https://t.co/lwPiXvFzTp. Let’s do what we can to support you,” he tweeted.

This was after Governor Babajide Sanwo-Olu said the state had activated the process of healing the destruction and massacre that happened earlier in the week when security operatives in army uniforms opened fire on armless #EndSARS protesters.

Sanwo-Olu said, “My heart bled after I went out today for a first-hand assessment of the destruction of assets of the Government and private properties. The level of destruction observed indicated that the violence was more than just a peaceful protest and agitations for police reforms. The proportion of devastation is a lot. This is not the Lagos that was handed over to me on May 29, 2019.

“Moving forward from the destruction, we have to continue the process of healing ourselves. We need to stop some of our citizens still using social media to instigate or incite the people. It will not be under my watch that we will lose the city that has the largest economy in the entire black nation. Enough is enough. I have moved around and I saw that our people want peace. On this, we are committed to bringing lasting peace back to the State.

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TVC Resumes Operations in Lagos Office Following Hoodlums Attack

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TVC Commences Operations Less Than 72 Hours After Hoodlums Attacked and Destroyed the Company’s Lagos Office

Television Continental (TVC) station has resumed operations less than 72 hours after its Lagos office was attacked by hoodlums that hijacked the #EndSARS protest.

The television station was attacked on Wednesday by criminals would believe that the media platform was owned by one of the top Buhari supporters, Mr. Bola Ahmed Tinubu.

The attack followed the shooting of unarmed #EndSARS protesters, who had gathered to protest against the activities of the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) at the Lekki Toll Gate on Tuesday.

The peaceful protesters were shot by security operatives in Nigerian Army uniform before the commencement of curfew imposed by Governor Babajide Sanwo-Olu of Lagos State.

The killings now tagged Lekki Massacre attracted global attention as global leaders condemned the Federal Government or whoever ordered the shooting and called for an immediate investigation into the matter.

On Wednesday, criminals allegedly sponsored by interested parties to dislodge peaceful protesters took advantage of the situation to wreak havoc across Nigeria’s commercial hub, Lagos State, as several private establishments businesses were attacked and looted by these unscrupulous characters.

One of the establishments attacked was the National Newspaper also linked to Mr. Tinubu.

The hoodlums stormed TVC on Wednesday morning during a popular morning show, Your View, anchored by Mrs Morayo Afolabi-Brown, the programme did not end before the television station went off air as it was immediately set on fire.

However, Investors King gathered that TVC resumed operations on Saturday morning, although regular programs were yet to resume fully.

As at the time of writing, the station was airing promos of various programmes and from what we gathered, regular programming will return very soon especially from its Abuja office.

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