Promasidor honours employees with long service

By Tunde Osho

Promasidor Nigeria Limited, makers of Cowbell Milk, Top Tea, Onga and other quality products, at the weekend, celebrated 254 of its staff who have been with the company for over 10 years. The award ceremony, which was held in Lagos, brought together the company’s employees, relatives, and distributors from different parts of the country.

The Managing Director of Promasidor Nigeria, Mr. Anders Einarsson, said the awardees were honoured for their commitment, hard work and loyalty to the organisation. He said the celebrated employees, who he urged others to emulate, had grown through the rank and become pillars of Promasidor’s growth as a result of their exceptional work ethics and positive attitude.

“For us at Promasidor Nigeria, the Long Service Award is not just a tradition. It is an opportunity to celebrate and honour our employees for their dedication, hard work, commitment and loyalty to the company. Most of them joined the company at an entry level but grew to the positions of regional sales managers. Such promotions do not come without measurable performances and hard work.

“At Promasidor, it is about good attitude, hard work and commitment. The awardees have met these standards; hence they have not only remained with us but have also become part of the pillars. The 20-year service awardees joined the company when it was just five -years old in Nigeria,” the MD said.

The three categories of awards were 20, 15 and 10 years in service with the beneficiaries evenly distributed among key departments, including sales, marketing, administration, engineering, finance, and procurement.

Anih Chidubem, who rose from the position of Marketing Assistant to Regional Sales Manager in his 20-year career at the company, described Promasidor as “a merit-driven organization.”

He further said: “Promasidor Nigeria is a fair organization. If you are promoted, it means that you deserve it. For some of us who have been around for a while, it is not just a business organization but a warm family. And I am very fortunate to have been part of it.”

Another awardee, Modupeoluwa Awonusi said the company was able to retain brilliant and hardworking staff because it rewards excellence and dedication. “Organisations that reward productivity, creativity, and commitment keep their best employees. Certainly, Promasidor is one of the few organizations that know how to keep committed people. Twenty years after I joined the company, I am not still in a hurry to leave the great family, which Promasidor has become.”

Promasidor which entered the Nigerian market in 1993 said it operates an equal-opportunity recruitment and human resource management, which has enabled it to experience tremendous growth across the country and become market leaders in various range of quality food and beverage products.


SEC disburses N17.09m to 297 investors

The Securities and Exchange Commission (SEC) on Wednesday said that the sum of N17.09 million has been disbursed to 297 investors from its National Investor Protection Fund (NIPF).

A source close to the commission disclosed this in an interview with the News Agency of Nigeria (NAN) in Lagos.

The source said the NIPF board at its first meeting on Dec. 14, 2015, approved N25 million from the fund, adding that out of the figure, the sum of N17.09 million was used as compensation.

The source told NAN that 580 complainants suffered loss due to misappropriation by Mega Asset Managers Ltd, noting that after thorough verification, 297 investors were compensated.

The source said that the commission’s board had on Dec. 2, 2014 at its 78th meeting approved the utilisation of the NIPF for Mega Assets loss.

He said that 297 investors paid were those that had successfully completed and submitted relevant documents.

The source added that the commission would pay other investors after completion of the verification process.

He said that the commission would remain committed to initiatives that would boost investor confidence, noting that lack of SEC board contributed to slow pace in investor compensation.

Meanwhile, a breakdown of the compensation data obtained from the commission by NAN confirmed that the 297 investors were customers of the closed Mega Asset Managers Ltd.

NAN reports that the NIPF is a scheme being promoted by SEC to compensate investors that suffer losses due to the insolvency, bankruptcy or negligence of a Capital Market Operator (CMO).

According to rules approved by the Board of SEC, the NIPF will apply only to bankrupt capital market operators that are not dealing members of any Securities Exchange or Capital Trade Points.

The NIPF was also instituted for the purpose of compensating investors whose losses are not covered under the NIPF administered by SEC and Capital Trade Points.