YouTube confirms crackdown on VPN users accessing cheaper Premium plans

 

YouTube appears to be taking a firm stance against Premium subscribers who attempt to use a VPN (virtual private network) to access cheaper subscription prices in other countries.

This week, a number of users took to Reddit to express their frustration after their Premium plans were canceled for using a VPN to purchase the subscription outside their designated region. 

VPNs are commonly used to protect user privacy and prevent cyberattacks, but they can also hide a user’s IP address, which can be tracked to a specific geographic location. VPNs can also display a specific country of origin, enabling users to appear as if they are based in a different country where YouTube Premium may be less expensive.

The company confirmed to TechCrunch that it can detect when a subscriber is lying about their signup country and the system will prompt the user to update their billing information. 

“To provide the most accurate plans and offers available, we have systems in place to determine the country of our users,” a YouTube spokesperson told us. “In instances where the signup country does not match where the user is accessing YouTube, we’re asking members to update their billing information to their current country of residence.” 

However, the company declined to speak to us about any cancellations. A Google support agent, on the other hand, had told PCMag that YouTube has “initiated the cancellation of premium memberships for accounts identified as having falsified signup country information.” The agent also said that the wave of cancellations began recently and that users who violate the rule will get an email and in-app notification that their plans are canceled. 

The alleged crackdown comes one year after YouTube’s price hike for U.S. subscribers, which brought the price of Premium for individuals from $12 to $14 per mont

 

Champion Breweries of Nigeria acquired!

 

Champion Breweries Plc announced on June 19, 2024, that EnjoyCorp has acquired a majority stake in the company. EnjoyCorp Limited’s acquired  86.5% stake.  

It stated that, with the acquisition, Champion Breweries Plc will be integrated as a cornerstone subsidiary within EnjoyCorp’s expanding portfolio of food, beverage, and hospitality brands.

Enjoy! Corporation is a business service company with a focus on sourcing and exporting fresh fruits and packaged foods.

However, given the company’s non-compliant free float of 3.58%, will it face delisting? Champion Breweries expressed excitement about entering a new chapter of growth and value creation for all its stakeholders, fueled by EnjoyCorp’s vision and resources.  

The company is confident that this partnership will unlock new opportunities and elevate its brand to greater heights. 

FEDERAL GOVRNMENT OF NIGERIA SAVINGS BOND

 

The Debt Management Office (DMO) of Nigeria, on behalf of the Federal Government of Nigeria, has launched a new retail investment programme – the “Federal Government of Nigeria (FGN) Savings Bond” – to help enhance the savings culture among Nigerians while providing all citizens irrespective of income level, an opportunity to contribute to National Development; as well as the comparatively​ favourable returns available in the capital market. FGN Savings Bond is safe and backed by the full faith and credit of the Federal Government of Nigeria, with quarterly coupon payments to bondholders. 

1. The coupon/interest income from the Savings Bond are tax-free.
2. The bondholder enjoys coupon/interest on a quarterly basis which is paid directly to his/her bank account
3. It makes it possible for individuals to plan and save towards personal projects.
4. FGN Savings Bonds are liquid as Secondary Market trading will be on the trading platform of the Nigerian Exchange Limited (NGX)
5. The FGN Savings Bond is acceptable as collateral for loans.
6. It offers guaranteed returns, and encourages financial inclusion.

Features

1. Minimum subscription of N5,000 with additions in multiple of N1,000; subject to a maximum of N50 million.
2. Fixed coupon will be paid quarterly to investors.
3. Bond tenors will range from 2 – 3 years’ tenor.
4. It will be issued on a Monthly Basis through an Offer for Subscription.
5. Monthly offer will be open for 5 days from the date of announcement.

Benefits

1. The coupon/interest income from the Savings Bond are tax-free.
2. The bondholder enjoys coupon/interest on a quarterly basis which is paid directly to his/her bank account
3. It makes it possible for individuals to plan and save towards personal projects.
4. FGN Savings Bonds are liquid as Secondary Market trading will be on the trading platform of the Nigerian Exchange Limited (NGX)
5. The FGN Savings Bond is acceptable as collateral for loans.
6. It offers guaranteed returns, and encourages financial inclusion.

How to Invest

Investors are to subscribe through Trading License Holders of NGX accredited by the DMO to act as Distribution Agents. 

Start trading stocks, Bonds, with us contact +2348038545323, emonvision4success@gmail.com

MTN’s N195 billion loss downs the Nigerian Stock Exchange

 TotalEnergies Marketing and Presco posted massive gains today in the NGX, gaining 9.98% and 9.97% respectively.

The gains recorded by these stocks took their share prices to N388.90 and N323.20 respectively. 

However, the gains posted by these stocks were unable to offset a 4.04% loss posted by MTN Nigeria, marking a N195.3 billion equity loss by the stock.

The market capitalization of MTN Nigeria slid to N4.63 trillion, from N4.83 trillion at the start of trading.  

The huge loss posted by MTN Nigeria dragged the NGX to a 0.16% loss, as the All-Share Index declined to 99,630.51 points, reflecting a 163.20-point decline from yesterday’s 99,793.71 points.  

There was also a 0.16% decline in the market capitalization, as it declined to N56.362 trillion, from yesterday’s N56.452 trillion. 

In terms of market activities, there was a 7% decline in the number of deals to 8,057, from yesterday’s 8,657. There was also a 12% decline in turnover volume to 848.943 million shares, from yesterday’s 963.541 million shares.  

Market highlights

One stock that has continued to garner attention is Fidelity Bank Plc, which recorded a turnover volume of 605.257 million shares.

Today, Fidelity Bank continued as the top traded stock with a turnover volume of 293.180 million shares.  

Another stock that captured market attention was Nigerian Breweries Plc with a turnover volume of 101.584 million shares, as well as a 3.57% gain. It cannot be speculated whether this rush is linked to the announced takeover of Guinness Nigeria by Tolaram.  

Zenith Bank, with a 0.57% increase, posted a turnover volume of 74.278 million shares. There was sell pressure on Ecobank Transnational, as the stock declined by 2.47% with a turnover volume of 62.457 million shares.  

Access Holdings gained 1.85% and recorded a turnover volume of 51.901 million shares.  

In terms of turnover value, Fidelity Bank, which gained 2.04%, recorded N2.93 billion, followed by Nigerian Breweries with a turnover value of N2.91 billion.  

Zenith Bank posted a turnover value of N2.57 billion, while Seplat with a 0.26% gain, recorded a turnover value of N1.80 billion. Ecobank Transnational posted a turnover value of N1.48 billion.  

The top gainer in the market was TotalEnergies, with a 9.98% gain to close at N388.90. This week, TotalEnergies has gained 20.96%, after beginning the week at N321.50.  

Presco Plc followed with a 9.97% gain, and UPDC gained 9.62%. FTN Cocoa Processors gained 9.65%, Chams HoldCo gained 9.47% and Linkage Assurance gained 9.09%.  

The top loser in the market was NASCON which lost 9.09%, while Thomas Wyatt shed 9.66%, followed by May and Baker which lost 7.13%. C&I Leasing lost 6.67%, Consolidated Hallmark lost 4.17%, and MTN Nigeria lost 4.04%.  

SWOOTs and FUGAZ Update 

During the day, the big stocks recorded mixed trading sentiment, as Zenith Bank, GTCO, and Seplat posted 0.57%, 2.63%, and 0.26% gains respectively. While MTN Nigeria posted a 4.04% loss.  

Other members of the SWOOTs category, Airtel Africa, BUA Cement, BUA Foods, Geregu Power, Transcorp Power, and Dangote Cement posted no price changes.  

The top tier banking stocks also enjoyed a bullish ride, however, FBN Holdings posted a 0.43% loss. UBA, GTCO, Access Holdings, and Zenith Bank posted 0.23%, 2.63%, 1.85%, and 0.57% gains respectively.  

We can help you setup trading account just contact us +2348038545323

Guinness Nigeria Shares rises on Tolaram Take over

Guinness Nigeria’s share price gained about 8.41%, closing at N54.80 on June 11, 2024, from an opening of N50.55.  

The gain is coming on the heels of an announced takeover of Guinness Nigeria by Tolaram. 

Earlier today, it was announced that Tolaram will acquire Diageo’s 58.02% stake in Guinness Nigeria and establish long-term licensing and royalty agreements for the ongoing production of the Guinness brand.

Diageo’s locally manufactured ready-to-drink and mainstream spirits brands will also be licensed to the company. 

An observation of the trading window displays immense buying pressure by investors on Guinness Nigeria stocks. During trading, there was a turnover volume of 178,098 with a turnover value of N9.8 million. 

Guinness Nigeria shares performance this year  

This year, Guinness Nigeria like other breweries listed on the NGX has endured massive declines. For example, Guinness Nigeria has posted a year-to-date decline of 23.4%, with its share price starting the year at N66.  

Other listed breweries, International Breweries have posted a year-to-date decline of 16.7%, Nigerian Breweries, a 22.2% YTD decline, and Champion Breweries, a year-to-date decline of 32.5%.  

The bearish performance of these stocks this year is linked to the massive losses posted by these companies. For example, Guinness Nigeria posted a pre-tax loss of N60.5 billion for the nine months ending March 31, 2024.

Financial state of breweries in Nigeria  

International Breweries posted a pre-tax loss of N97.3 billion in FY 2023, and for Nigerian Breweries, the group posted a pre-tax loss of N144.7 billion in FY 2023.  

The massive losses posted by these companies are linked to the immense depreciation of the Naira in 2023, with rising operational costs linked to record inflation figures.  

For shareholders, the significant losses reported by these companies, leading to accumulated retained losses, suggest that dividends may not be paid in the coming years. 

For most of the breweries, capital-raising efforts have been put in place, as their losses have eaten into their capital reserves.

Nigerian Breweries is planning to launch a N600 billion rights issue programme, as the group seeks to settle some of its trade payables and other current liabilities.  

International Breweries is also raising capital, as the group is at the concluding phase of its N588 billion rights issue. International Breweries issued 161.172 billion shares, with the rights issue expected to end on June 10.  

The situation for Guinness Nigeria stands apart. While parent companies of other breweries, such as AB InBev for International Breweries Plc and Heineken NV for Nigerian Breweries Plc, are demonstrating confidence in their subsidiaries through debt-to-equity conversions and capital infusions via rights issues, Diageo International is choosing to exit Guinness Nigeria. 

However, there is optimism that the new majority shareholder, Tolaram, will support Guinness Nigeria through strategic cash infusions.

Additionally, the company is expected to leverage the broader Tolaram ecosystem to benefit from economies of scale. 

To trade Nigerian Stocks pls contact us +2348038545323

Crypto’s Richest Billionaire Doubled His Net Worth Behind Bars

Binance founder Changpeng Zhao, already the richest person to go behind bars and the wealthiest person in crypto many times over, Zhao’s net worth has soared since he became a felon.

Forbes now estimates that he is worth $61 billion, making him the 24th richest person in the world, just after Julia Koch and family. The next richest person in crypto is Coinbase founder Brian Armstrong at $11 billion.

CZ’s upward revision has two components. First, his 90% equity stake in Binance, the large crypto exchange, is valued at $33 billion despite CZ stepping down as CEO in November 2023 as part of a settlement with the U.S. Department of Justice in which he pled guilty to anti-money laundering and sanctions violations. His company also paid a $4.3 billion fine to the government. However, the impact on Zhao’s personal wealth was less severe, since he only had to pay a $50 million fine. In the six months since his plea.

Binance  increased its dominance among crypto exchanges worldwide in terms of trading volume (though it was excluded from Forbes’ list of the most trustworthy crypto exchanges.) According to data compiled from The Block, its share of the total spot market across exchanges has increased to 42% in the six months since he left the company from an average of 38% in the two months before his settlement.

Apple now the World's most Valuable Stock

Apple is again the biggest public company on the planet, ascending Wednesday to the position it lost to Microsoft in January thanks to apple stock’s meteoric rise following Monday’s event laying out the iPhone maker’s generative artificial intelligence strategy.

KEY FACTS

Apple’s $3.33 trillion market capitalization Wednesday narrowly outranked Microsoft’s $3.26 trillion.

The passing of the torch came as Apple stock gained 5% in Wednesday trading, continuing its two-year-best 7% rally Wednesday.

Apple’s valuation is more than $350 billion higher than it was at Monday’s market close, casually tacking on the market cap equivalent to the total valuation of Bank of America, the 30th-largest company in the world.

Microsoft shares still rose 1% on Wednesday to an all-time high, joining the broader rally as the S&P 500 set another record high.

FUND YOUR PREPAID CARDS WITH US (DOLLAR, POUNDS EURO ETC)

What are Prepaid Cards

 

There was a time Nigerian banks allowed the use of Naira debit card to make purchases, even dollar based purchases. All you do is enter your card details then the issuer automatically converts the base currency of the card (Naira) to the currency you are purchasing from. This conversion is done at their set exchange rates.  But later on the apex bank banned the whole process, the reason being currency devaluation, you can no longer use the normal debit card to purchase online products domiciled in another currency etc. This is where dollar domiciled prepaid cards came to the rescue, unlike the normal debit card, your account is not linked to any savings account neither is it funded in naira, rather it is funded with dollars. Let’s have a look at the definition of prepaid cards

Prepaid cards are cards which enables you to make digital form of payment through mobile apps or online without the need to carry physical cards or cash. It comes in plastic material usually close to the shape and size of plastic identity card. It is not linked to your account. You just fund the card with the amount you wish to spend on the merchant website (Ebay, Alibaba, Aliexpress etc).

Nowadays it comes with a cardholder's name, card number, CVV, and expiration date and the name of issuer. Thеsе cards arе typically issuеd by banks, financial institutions, or paymеnt sеrvicе providеrs and arе linkеd to an actual account or paymеnt sourcе. Most banks doesn’t require that you open an account.

You can fund, budget, withdraw at any ATM and spend safely, It comes in one currency per card (local currency, dollar, euro, british pounds) It is up to you to decide which currency you use most often.

This is why you should have a prepaid card.

Convenience

One of the major benefits of using prepaid cards is the convenience and ease of use it gives. they are readily accessible, you don’t need to queue in the bank to pay an online merchant. Just sit at your comfort zone and make payment instantly to the merchant. 

Enhanced Security

Since the card is not linked to your account, you are free to dedicate it to transactions that are reoccurring in nature like subscriptions, what you deposited is what will be deducted

Better Control On Spending

Prepaid cards can help you control your spending. That's because some of these cards enable you to set spending limits, giving you more control over your finances.

Simplified Tracking & Management

Expenses via the prepaid cards can be tracked and managed smoothly through the mobile App, statements can be generated and printed which can help you stay on top of your costs and bеttеr manage your financеs.

Easy To Create and Use For E-commerce

Prepaid Cards also simplifies the online shopping experience. When you enter your card details on a trusted site, it becomes automated very flexible if you are on subscription. you can easily shop on your favourite international websites, Like Ali express, Alibaba, ebay etc 

Reduced cash handling.

Who wants to carry cash around when your cash can be safe and locked up In the prepaid card.

FAQ

 

How do I fund my prepaid cards? This is where our organization comes in, We can help you fund your prepaid  cards at any currency and denomination. Simply click on the fund button you will be prompted to filling a detailed form of what you need. Or contact us for more inquires

 

Can I withdraw from the card

Yes! Remember you will be given the base currency of the prepaid card. Work is still ongoing on our withdrawal process. We will soon activate this feature.

 

What prepaid card currencies can you fund?

 Dollar, Pounds, Euro. Depends on availability.

 

Contact 08038545323 for more information