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PZ Cussons Fix Over N326bn Remunerations for Directors

The Directors are Ifueko M. Omoigui Okauru (Chairperson), Dimitris Kostianis (CEO), Joyce Coker, Ballama Manu, Oluwatoyin Odutayo, Suleyman A Ndanusa, and Kareem Moustafa.

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PZ Cussons Nigeria Plc Board of Directors will be remunerated to the tune of  over N326 billion in 2025 Financial Year.

The Directors are Ifueko M. Omoigui Okauru (Chairperson), Dimitris Kostianis (CEO), Joyce Coker, Ballama Manu, Oluwatoyin Odutayo, Suleyman A Ndanusa, and Kareem Moustafa.

The company disclosed this in a statement filed with the Nigerian Exchange Limited (NGX), for its 76th Annual General Meeting (AGM) scheduled to be held at the TranscorpHilton, FCT, Abuja, on Thursday, 28 November 2024.

It said that the shareholders to  consider and, if thought fit, pass the following resolution as an ordinary resolution of the Company: “THAT the Directors’ remuneration for the financial year ending 31 May 2025 be and is hereby fixed at N326,591,094 and sitting allowance be paid for additional meetings outside the fixed remuneration.”

The Company’s Secretary  also notify the  shareholders and stakeholders that the agenda for the AGM has been amended to rephrase resolution as follows: Ordinary Business

To lay before the meeting the Financial Statements for the year ended 31 May 2024, the Reports of the Directors, the Independent Auditors and the Audit Committee thereon.

To elect/re-elect Directors.a. To re-elect Mallam Ballama Manu, who is over 70 years old but eligible for reelection as a Director pursuant to section 282 of the Companies and Allied Matters Act 2020b.

To re-elect Mrs. Toyin Odutayo as a Director

To elect Mr. Kareem Moustafa as a Director

To authorise the Directors to fix the remuneration of the Auditors, etc.

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Business

Exchange Rates Today Friday, 12 June

Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850

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Official CBN Exchange Rates

US Dollar (USD) ₦1,363. 83

Great British Pound (GBP) ₦1,821. 25

EURO (EUR) ₦1,572. 90

SWISS FRANC (CHF) ₦1,706. 49

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦201.20

West African CFA (XOF) ₦2.40

West African Unit Account (WAUA) ₦1,857. 45

SAUDI RIYAL (SAR) ₦363. 29

SOUTH AFRICAN RAND (ZAR) ₦82.61

Black Market Rates

US Dollar (USD) Buy ₦1,397 Sell ₦1,405

Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870

EURO (EUR) Buy ₦1,587 Sell ₦1, 607

Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100

South African Rand (ZAR) Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

Chinese Yuan Buy ₦180 Sell ₦200

Ghana Cedi (GHS) Buy ₦95 Sell ₦110

West African CFA Buy ₦2, 380 Sell ₦2, 460

Central African CFA Buy ₦2, 220 Sell 2,300

Australian Dollar Buy ₦800 Sell ₦900

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Business

Airtel launches data calculator to counter depletion complaints

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

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Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.

Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.

Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.

“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.

The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.

Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.

“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.

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Business

Kingsley Moghalu chairs Bluecode Africa subsidiary in Nigeria

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

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Bluecode Africa, the European payments infrastructure operator backed by leading US and European institutional investors, has named Prof Kingsley Chiedu Moghalu as Chairman of the Advisory Board of its Nigerian subsidiary, Bluecode Payments Nigeria Limited as the company formally enters the Nigerian market.

The appointment was jointly announced by Chris Pirkner, Founder of Bluecode, and Odin Krismayr, Managing Director of Bluecode Africa, who described it as a foundational governance decision for the company’s Nigerian and continental operations.

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, heading the Financial System Stability and Operations Directorates at different periods.

He led the team that introduced the unique-identifier Bank Verification Number (BVN), enrolling 50 million banking users, simplifying Know Your Customer (KYC) procedures, and doubled Nigeria’s financial inclusion rate from 33 to 60 per cent.

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