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Mouka Unveils New Quality Products for Consumers’ Well-being, Assures Continuous Innovation

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Mouka, Nigeria’s leading manufacturer of mattresses, pillows, and other bedding products has unveiled new products of high standards for maximum comfort, as well as physical and mental well-being, after a healthy sleep that will keep them rejuvenated.

The products which are additions to the company’s existing brand portfolio include the Royal Luxury Pillow Top Spring mattress, Mouka Hybrid Wellbeing mattress, Mouka Wellbeing Topper mattress, Mouka Bio Pillow, and the Royal Memory Foam Pillow which depicts innovation and high standard ever sustained in the sector.

They were launched at the Lagos Continental Hotel, in Victoria Island, Lagos, on Saturday, 6th August 2022, at an event held for business partners across the country, who were rewarded with fabulous gifts for their loyalty in recognition of their contribution to the company’s growth trajectory.

At the unveiling ceremony, Mouka’s Managing Director, Femi Fapohunda, said the new products are indications of the company’s commitment to the delivery of unparalleled brands through its world-class factory equipped with the state-of-the-art infrastructure, and its quest for ground-breaking offerings to suit consumers’ needs.

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On his part, the Company’s Senior Brand & Innovation Manager, Akeem Audu, affirmed that the Royal Luxury Pillow Top Spring mattress depicts luxury at its finest. He explained that with a 10-year warranty, the pillow-top layer delicately contours your body, providing relief to all pressure points. The lush Pama fabric covering the mattress adjusts to the body temperature, keeping it cool all through the night.

“The mattress core is built with tempered and knotted Bonnell spring coils that ensure every part of your body gets the right support it needs,” he stated.
With excellent brand values, the Mouka Wellbeing Hybrid mattress is made up of a firm side and an extra firm side, meaning a consumer can both sleep in total comfort. It is the perfect sleep solution for two different weighted sleepers, with one side Orthopaedic and the other side, semi-orthopaedic.

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Also, the Mouka Wellbeing Topper is a plush layer made with memory foam, delicately molding your body. It conforms to your body’s natural curves while providing pressure relief, and protects the mattress underneath, thus elongating its lifespan. The plush layer is commonly used with orthopaedic mattresses as an extra comfort zone and is recommended for homes and hotels that require dual comfort ratings.

The Mouka Bio Pillow is Nigeria’s first pillow made with patent biocrystal technology. It reduces fatigue for faster relaxation, viral and bacterial activities for healthy sleep, and improves sleep quality with proper support for the head, neck, and spine, while the premium Royal Memory Foam Pillow is pressure-relieving for a blissful night’s sleep. It adapts to you, contouring your head, neck, and shoulder, providing personalized comfort, and anti-microbial for a good sleep.

These products come on the heels of Mouka’s drive to constantly innovate and renovate its arrays of sleep solutions to cater to the needs of the different demographics and make them exciting.

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Mouka which recently became a member of the Dolidol International Group, the market leader in the sleep industry of Africa, with headquarters in Morocco, has other sleep solutions such as the Well-being Orthopaedic mattresses, Klinic hospital mattress, Mondeo plus Spring mattress, Eco-Comfy Fibre mattress, Dreamtime Baby mattress, and a wide range of pillows.

Mouka, Nigeria’s leading manufacturer of mattresses, pillows, and other bedding products has unveiled new products of high standards for maximum comfort, as well as physical and mental well-being, after a healthy sleep that will keep them rejuvenated.

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The products which are additions to the company’s existing brand portfolio include the Royal Luxury Pillow Top Spring mattress, Mouka Hybrid Wellbeing mattress, Mouka Wellbeing Topper mattress, Mouka Bio Pillow, and the Royal Memory Foam Pillow which depicts innovation and high standard ever sustained in the sector.

They were launched at the Lagos Continental Hotel, in Victoria Island, Lagos, on Saturday, 6th August 2022, at an event held for business partners across the country, who were rewarded with fabulous gifts for their loyalty in recognition of their contribution to the company’s growth trajectory.

At the unveiling ceremony, Mouka’s Managing Director, Femi Fapohunda, said the new products are indications of the company’s commitment to the delivery of unparalleled brands through its world-class factory equipped with the state-of-the-art infrastructure, and its quest for ground-breaking offerings to suit consumers’ needs.

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On his part, the Company’s Senior Brand & Innovation Manager, Akeem Audu, affirmed that the Royal Luxury Pillow Top Spring mattress depicts luxury at its finest. He explained that with a 10-year warranty, the pillow-top layer delicately contours your body, providing relief to all pressure points. The lush Pama fabric covering the mattress adjusts to the body temperature, keeping it cool all through the night.

“The mattress core is built with tempered and knotted Bonnell spring coils that ensure every part of your body gets the right support it needs,” he stated.

With excellent brand values, the Mouka Wellbeing Hybrid mattress is made up of a firm side and an extra firm side, meaning a consumer can both sleep in total comfort. It is the perfect sleep solution for two different weighted sleepers, with one side Orthopaedic and the other side, semi-orthopaedic.

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Also, the Mouka Wellbeing Topper is a plush layer made with memory foam, delicately molding your body. It conforms to your body’s natural curves while providing pressure relief, and protects the mattress underneath, thus elongating its lifespan. The plush layer is commonly used with orthopaedic mattresses as an extra comfort zone and is recommended for homes and hotels that require dual comfort ratings.

The Mouka Bio Pillow is Nigeria’s first pillow made with patent biocrystal technology.  It reduces fatigue for faster relaxation, viral and bacterial activities for healthy sleep, and improves sleep quality with proper support for the head, neck, and spine, while the premium Royal Memory Foam Pillow is pressure-relieving for a blissful night’s sleep. It adapts to you, contouring your head, neck, and shoulder, providing personalized comfort, and anti-microbial for a good sleep.

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These products come on the heels of Mouka’s drive to constantly innovate and renovate its arrays of sleep solutions to cater to the needs of the different demographics and make them exciting.

Mouka which recently became a member of the Dolidol International Group, the market leader in the sleep industry of Africa, with headquarters in Morocco, has other sleep solutions such as the Well-being Orthopaedic mattresses, Klinic hospital mattress, Mondeo plus Spring mattress, Eco-Comfy Fibre mattress, Dreamtime Baby mattress, and a wide range of pillows.

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5.5 Billion Debt: Supreme Court Affirms Honeywell’s Indebtedness To Ecobank

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Ecobank scored a major victory at the Supreme Court on Friday as it won in a N5.5 billion debt dispute against Honeywell and its sister firms, Anchorage Leisures Ltd and Siloam Global Ltd. The Supreme Court dismissed an appeal by Honeywell Flour Mills Limited challenging the judgement of the Court of Appeal in the debt dispute with Ecobank Nigeria Limited. The five-member panel of the Supreme Court, led by Tijjani Abubakar, delivered the judgement that Honeywell, Anchorage, and Siloam were indeed indebted to Ecobank. In the lead judgement delivered by Emmanuel Agim, the Supreme Court declared the verdict of the Court of Appeal, which said Honeywell and its sister companies are still indebted to Ecobank.
“I affirm the judgment of the Court of Appeal, setting aside the decision of the Federal High Court, granting the reliefs claimed for by the appellants (Honeywell). “I hold that the appellants’ claim at the trial court fails and it is hereby dismissed. “The appellants shall pay the cost of N1 million to the respondent (Ecobank),” Agim said.

By the instant judgment of the apex court confirming the indebtedness of the named customers to the Bank, the Bank can now proceed to recover from the debtor-customers the total outstanding debt of N5.5Billion including all the accrued interest from 2015.

In the wake of the legal tussle, Dr Oba Otudeko, Honeywell Group chairman, had told a Court of Appeal that the sum was owed by individual companies. These companies include Anchorage Leisures Limited, Siloam Limited, and Honeywell Flour Mills Plc. Otudeko maintained that his companies had paid N3.5 billion as of December 12, 2013, as the full and final payment for the N5.5 billion debt as agreed by the parties at a July 22, 2013, meeting. With the latest Supreme Court judgement, the companies remain indebted to the Bank.

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On 6 August 2015, Honeywell, and its sister firms, Anchorage Leisures Ltd and Siloam Global Ltd, sued Ecobank before the Federal High Court in Lagos over repayments of a N5.5 billion debt. In the suit, the companies urged the Federal High Court in Lagos to declare that “having paid the sum of N3.5 billion in cumulative settlement of their total outstanding indebtedness” (of N5.5 billion) to Ecobank, “they owned no further debt obligation” to Ecobank “arising from their banker-customer relationships.”

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As a result, they also asked the court to hold that Ecobank “was obligated to issue letters of discharge, release collaterals by which the prior indebtedness was secured.” In addition, Honeywell and its sister companies begged the court to compel Ecobank to “update” their status on the “Credit Risk Management System Portal of the Central Bank of Nigeria.”

But in its defence, Ecobank argued that an agreement was reached between it, Honeywell, Anchorage and Siloam on 22 July 2013, “for a definite settlement of N3.5 billion to be paid in terms of N500 million immediately and the balance of N3 billion before the exit of the CBN examiners from” Ecobank’s offices. Ecobank had contended that the repayment agreement period was for six months as it rejected Honeywell and its sister companies’ request to “pay the balance over a one-and-half-year period in three equal half-yearly instalments.”

The bank informed the court that the debt repayment agreement “lapsed in August 2013.” But in its judgement, the judge, Ayokunle Faji of the Federal High Court, upheld the arguments of the Honeywell Group and granted their prayers. Dissatisfied with the verdict, Ecobank in 2015, approached the Court of Appeal. In its decision, the appellate court overturned the judgement of the Federal High Court, setting the stage for the Supreme Court’s appeal which was resolved in favour of the Bank.

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Last Set of Winners Emerge in Season 2 of Wema Bank’s 5for5 final Promo Draw

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From left to right: Chief Experience Officer, Wema Bank,Adeyemi Oshundiya, Chief Financial Officer, Wema Bank, Tunde Mabawonku, Head, Monitoring and Enforcement Lagos State Lottery Board, Mr. Tanko Olaseni, Lagos State Lottery Board, Mrs Oyinkan Kusamotu, Retail Divisional Head, Wema Bank, Dotun Ifebogun,, Representative of the Federal Competition and Consumer Protection Commission ,Mrs. Susan Onwuka and Representative of the Monitory and Enforcement National Lottery Regulatory Commission, Mr. Niyi Adeleke at the grand finale of the ALAT 5for5 promo draw, held at the Wema Bank towers this weekend

Winners have emerged in the ground-breaking final live draw of the 5for5 promo event held in Lagos on January 20, 2023. This event featured mouth-watering cash prizes of N10,000, N100,000, and the star prize of N1,000,000, which 2 lucky customers won.

Abubakar Bisoye Bisi of Broad Street Branch, Lagos and Toyeeb Hussain of Ondo Branch emerged the two lucky winners of N1 million each. 55 other customers won N10,000 each, while another 20 others won N100,000 each in electronic draws conducted at the bank’s Head Office.

Season 1 of the promo began in 2021 as part of activities to reward its customers and encourage a healthy savings culture. This second edition closed the curtains on the second season of the 5for5 promo with an impeccable event line-up, social networking, and entertainment, which created a memorable experience for participants that participated physically in Lagos and virtually on Instagram Live on @alat_ng.

Speaking to pressmen during the event, The Chief Finance and Strategy Officer, Tunde Mabawonku, in his closing remarks, emphasized the uniqueness of the 5for5 promo grand finale, stating that it was designed to give a personalized feel to the event. “One of the highlights of the event is to remind our customers that the bank and all of the activities we host are designed to help them navigate the various financial services we offer and make their experiences the best in the history of the Nigerian banking industry,” he stated. “This is our way of thanking and rewarding customers for their loyalty.

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Speaking further, he said, “This season’s grand finale has been a success, and it is already generating considerable interest in the banking industry and among shareholders.”

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The Divisional Head, Retail Banking, Mr. Dotun Ifebogun, said the promo is a way of promoting the savings culture among customers as well as encouraging the use of the bank’s alternate digital channels.

He explained that participating customers needed to do five transactions using the alternate channels as qualification criterion.

During the cheque presentation ceremony, the newly appointed Managing Director, Moruf Oseni, expressed his unwavering faith in the promo event and its enormous impact on the banking community. In addition, he praised the efforts of the organizing committee, the able knights, and every other participant in the event’s success.

The stakeholders of the Nigerian banking behemoth Wema Bank praised the bank’s management and board for their shrewd leadership and customer-centric values, which contributed to the success of the second season of the promotion.

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Wema bank pledges to return with a bigger and better third season of the 5for5 promo and urges customers to keep an eye out for this upcoming event and many other opportunities to improve their lives.

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CBN sensitises Kaduna traders to new naira notes

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The Central Bank of Nigeria has taken its new naira notes sensitization to the Abubakar Mahmud Gumi Market, Kaduna State with an appeal to traders to ensure that their old notes are deposited at the commercial banks.

The apex bank noted that there would be no extension of the January 31 deadline within which the old naira notes would cease as legal tender in the country.

The CBN’s Director of Capacity Development, Mohammed Abba, who briefed journalists on the benefits of the new naira notes while sensitizing traders at the Central Market Motor Park, Kaduna on Saturday, urged traders to hasten up and deposit their old naira notes in exchange for the new notes.

He also noted that the CBN would sanction errant commercial banks that refused to dispense the new naira notes through their Automated Teller Machines or hoard the money from customers, noting that “now, there is enough money.”

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“We hope that by Monday all the banks dispensing old notes in Kaduna will stop doing that,” he added. 

The CBN boss also disclosed that the apex Banks would reach out to people in rural areas through traditional rulers so as to sensitize them on the new naira notes and the deadline when the old notes would cease as legal tender. 

According to him, the sensitization will be taken to churches, mosques as well as motor parks as part of efforts to encourage the general public to deposit their old naira notes before the deadline. 

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Earlier, the Chairman of the Kaduna Market Development Association, Abdulrahman Mohammed, had thanked the apex bank for sensitising its members to the new monetary policy of the bank. 

He urged his members to go to any commercial banks nearest to them to deposit their old naira notes for the new ones in order the beat the deadline, noting that charges have been suspended by the CBN.

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