2020 - Page 34 of 51 - SocietyGazette.com

Fidelity Bank appoints Chike-Obi Chairman as Ebi retires

Fidelity Bank Plc has announced that two of its Board members: Mr. Ernest Ebi, who has been serving as chairman, Board of Directors, and Mr. Seni Adetu, who has been serving as an independent non-executive director, having successfully completed their tenure in accordance with the bank’s internal governance policy, will be stepping down from the Board.

Under the Chairmanship of Ebi, the bank recorded significant growth across key financial metrics with both Messrs Ebi and Adetu playing significant roles, complementing management effort in the delivery of these milestones; in service of the long term vision of the bank. The bank’s market share position has also been materially strengthened over this period.

The board is also pleased to announce that the retiring Chairman will be succeeded by Mr. Mustafa Chike-Obi, who is currently the Executive Vice Chairman at Alpha African Advisory. He has over 40 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms. He provides overall leadership at Alpha African Advisory and has direct oversight over the capital raising division.

Prior to joining Alpha African Advisory, he was the inaugural CEO, Asset Management Corporation of Nigeria (AMCON), a Federal Government-backed institution, established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis. Chike-Obi was Founding President at Madison Advisors, a financial services advisory and consulting firm in New Jersey, specialising in hedge funds and private equity investment advice. He holds a Bachelor’s degree in Mathematics from the University of Lagos (First Class Honors) and an MBA from Stanford University Graduate School of Business.

Ebi will, however, continue in the role until the in-coming Chairman assumes office as part of the process of ensuring a smooth and successful transition. The changes being announced further attest to Fidelity Bank’s high governance standards and best practices in compliance with internal succession policies.

The outgoing Chairman expressed pride in the results that the bank achieved during his time as Chairman. ‘I feel that the management team has consolidated on our plans to become one of the fastest-growing banks in the country, strongly rooted in technology only comparable with the best in the world. I am confident that my successor will continue on that path to take the bank to its next stage of growth and advancement. I wish my successor, the management team, and the entire staff of Fidelity Bank the very best for continued success”, he said.

Heritage Bank shuts branch for disinfections over suspected coronavirus case

Heritage Bank Plc said it has closed down an Experience Centre- EC (branch) at Allen Avenue; Ikeja over “unconfirmed case” of Coronavirus for deep hygiene clean up after an employee took ill last week.

The bank in a statement made available to the press and customers, noted “in line with our emergency response plan and following regulatory practices, we have taken immediate steps to close down Allen Avenue, Ikeja Experience Centers- EC (branch) for thorough disinfections of the affected location.”

Contrary to rumour, the bank disclosed that whilst the suspected staff awaits her medical test from the Covid-19 Test Centre in Yaba, she had not exhibited any symptoms related to the virus.

“Neither of the suspected person or others in the EC had exhibited any symptoms,” the bank said in the statement.

Specifically, the bank stated that staff were advised to self-isolate for 14days forthwith which was in consonance with Nigeria Centre for Disease Control (NCDC).

The bank stated that the EC will undergo “thorough disinfections,” further affirmed, “Customers and staff safety remains paramount; hence we will recommence business with new set of relief employees, as the current staff self-isolate.”

In the interim, the bank advised customers, “please visit other ECs or branches in Ikeja where you can conduct your daily transactions. Otherwise, you can use our alternate e-channels for seamless service deliveries.

“Heritage Bank remains resolute to continually serve you seamlessly despite prohibitions imposed on physical contact through our bouquet of electronic products which have been made available on notable mobile stores and our website (www.hbng.com).”

The bank noted that it would continue to intensify ongoing efforts via its intranet and other channels to keep staff and customers up-to-date with the latest COVID-19 information and provide clear direction and guidance expected of workers and customers.

“We have setup a COVID-19 Support Centre to offer COVID-19 safety tips to all our customers during this period, in support of the efforts of the Government and relevant bodies. Please send any information relating to the COVID-19 pandemic via these channels: E-mail: HeritageBankCovid19Support@hbng.com and contact number: 01-2369099,” the bank stated.

FIRSTBANK’S FMAP GRADUATES INAUGRAL SET OF MANAGEMENT ASSOCIATES

First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has graduated 28 successful candidates in its inaugural FirstBank Management Associates Programme (FMAP), virtually held on Tuesday, 30 June 2020 via the Zoom video conferencing application. The programme which commenced in 2018 had a total of 48 candidates selected from thousands of entries and applications received nationwide.

FMAP is a 24-month fast-track comprehensive developmental programme targeted at young, dynamic, self-motivated and highly driven individuals that possess the right skill set and excellent leadership potential among Junior and entry-level cadre staff. Entries and applications for the programme enrolment was also extended to the public

Speaking about the programme, Dr. Adesola Adeduntan, CEO, FirstBank said “It is an intensive skill development programme structured to enhance acute thinking, financial, methodical skills of staff. The bank would continue to reinvest in its human capital to create a kind of leadership needed for future growth and development

“This is part of the Bank’s strategic objectives of infusing and developing leadership at requisite levels across its staff hierarchy, aimed at building the next generation of leaders who will be groomed to drive the Bank’s vision of being Africa’s Bank of first choice”, he concluded.

At the end of the programme, successful candidates are moved to middle management, becoming Management Associates irrespective of their grades at the point of entry.

Cross country postings and secondment opportunities is also offered to such staff to provide them with global exposure and network.

TB Joshua COVID-19 Healing: World Health Organization States Readiness on Faith and Science Collaboration

The World Health Organization (WHO) has spoken out after a video surfaced this week of a medical doctor who testified to receiving healing from COVID-19 after receiving prayers from Nigerian Pastor TB Joshua.

During an interactive press briefing organized on Wednesday 1st July 2020, a panel of top WHO officials was questioned on the miracle by Cameroonian journalist Simon Ateba of Today News Africa.

“On Monday, a very popular pastor in Nigeria, T.B Joshua, released a video of a medical doctor in Cameroon who was said to have been cured of the virus through prayer,” Ateba stated, asking the panellists for their reaction.

In the video he referenced, Dr Kameni Pierre – a gynecologist and obstetrician – receives prayer after affirming he was positive to coronavirus during an ‘Interactive Prayer Session’ organised by Emmanuel TV.

After ‘vomiting out’ the disease during prayer, the medical doctor held up his medical report days later confirming he was diagnosed negative to COVID-19.

In response, Dr Michael Ryan, the Executive Director of WHO Health Emergencies Programme, affirmed the readiness of WHO to collaborate with bodies like The SCOAN to advance the cause of the war against the deadly virus.

“Certainly, spiritual leadership is very important in times like this,” Ryan stated, praising the role of faith-based organisations in providing accurate information to communities.

Speaking further, the WHO Director General, Dr. Tedros Ghebreyesus added that faith and science should “go together”.

“We know many religious leaders who would really advise their followers to follow their faith and at the same time use science. The two do not contradict; they go together… We will call on all religious leaders to be in this fight and save lives,” he stated.

Ghebreyesus had earlier echoed TB Joshua’s prophecy where he declared 2020 “the year of humility” in which “God would humble us with our challenges”.

“If this virus is teaching us anything, it is humility,” the former Ethiopian Minister of Health asserted.

Emmanuel TV’s popular YouTube videos, many of which show similar case of miraculous healing through prayer, have accumulated over six hundred million views.

VIDEO:

OUTSTANDING YOUNG NIGERIAN HERO, ADJWOA AWE RECEIVES AWARD IN MEMORY OF PRINCESS DIANA

A young Nigerian, Miss Adjwoa Awe, 15 years of age has been honoured with The Diana Award for going above and beyond in their daily life to create and sustain positive change.

The award was announced on Wednesday 1 July; during the 2020 Diana Awards Virtual Ceremony held to celebrate all the awardees amazing achievements and introduce them to the rest of the world.

Awe is being recognized with the highest accolade a young person can achieve for social action or humanitarian efforts – The Diana Award.

Established in memory of Diana, Princess of Wales, the Award is given out by the charity of the same name and has the support of both her sons, The Duke of Cambridge and The Duke of Sussex.

Awe, a student of Olashore International School had an active role in the development of several new projects in her community. Her activism began with the development of ‘Our Voices Have To Be Heard’, an initiative committed to raising awareness of child rigshts and prevent abuse. Recognising the further needs of her community, she and her schoolmates followed this project with ‘Healing Every Living Person’, to combat poverty by equipping young people with skills through entrepreneurial training. This brought a tremendous impact in Awe’s community with 100 new subscribers to the programme. Awe’s kindness and leadership have provided essential skills for her community and inspired others to take similar positive action.

Speaking on the award, the CEO of The Diana Award, Tessy Ojo stated, “We congratulate all our new Diana Award recipients who are changemakers for their generation. We know by receiving this honour they will inspire more young people to get involved in their communities and begin their own journey as active citizens. For over twenty years The Diana Award has valued and invested in young people encouraging them to continue to make positive change in their communities and lives of others.”

Reacting to development, the awardee’s parents, Olugbenga and Linda Awe expressed their appreciation, thereby stating, “We are proud of the impact our daughter is making in co-creating sustainable livelihoods. She has our continuous support. We also commend her school Olashore International School Iloko-Ijesha in creating the conducive environment for her as she nurtures her dreams.”

WHAT IS THE NOMINATION PROCESS?

Award recipients have been put forward by adults who know the young people in a professional capacity and recognised their efforts as a positive contribution to society. Through a rigorous nomination process, these nominators had to demonstrate the nominee’s impact in five key areas: Vision, Social Impact, Inspiring Others, Youth Leadership, and Service Journey.

There are 13 Diana Award Judging Panels representing each UK region or nation and a further three panels representing countries outside of the UK. Each panel consist of three judges; one young person, an education or youth work professional, and a business or government representative. The panels have an important main purpose: to determine which nominations from each UK region/nation/country will receive The Diana Award.

Nominations are judged using the Criteria Guide and Scoring Guide which have been created to measure the quality of youth social action.

For interviews or further information, please contact info@protostar.com.ng, www.protostar.com.ng

About The Diana Award

Being the most prestigious award any young changemakers below 25 can receive, the Diana Award develops and inspires positive change in the lives of young people through three key programmes which include; a mentoring programme for young people at risk, a youth-led anti-bullying ambassadors campaign and a prestigious award which publicly recognises young people – The Diana Award.

ZENITH BANK RANKED NUMBER ONE TIER-1 BANK IN NIGERIA

Zenith Bank Plc has again emerged as the Number One Bank in Nigeria by Tier-1 Capital in the 2020 Top 1000 World Banks Ranking published by The Banker Magazine. Climbing a whopping 29 spots from 415 in 2019 to 386 in the 2020 global ranking of banks, Zenith Bank retained its position as the number one Tier-1 bank in Nigeria with Tier-1 Capital of $2.79 billion, an increase of 16.1% on the $2.40 billion recorded in the 2019 rankings.

The ranking which was published in the July 2020 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2019 year-end Tier-1 capital of banks globally. According to the Ranking Report, Zenith Bank extended its lead over the second-placed bank in Nigeria. Zenith’s financial performance for the year was underpinned by a 29% increase in non-interest income, with an improved market share in both retail and corporate sectors.

Speaking on the latest rankings, the Group Managing Director/Chief Executive, Mr. Ebenezer Onyeagwu said: “this ranking, which further attests to our market leadership, is the outcome of a well-thought-out strategy of always delighting and creating value for our teeming customers through a broad range of superior product offerings, best-in-class service and top-of-the-range technology”.

Tier 1 capital describes the capital adequacy of a bank, and it is the core measure of a bank’s financial strength from a regulator’s point of view. According to the ranking, Tier 1 Capital, as deﬁned by the latest BIS guidelines, includes loss-absorbing capital, i.e. common stock, disclosed reserves, retained earnings and minority interests in the equity of subsidiaries that are less than wholly owned.

Zenith Bank has clearly distinguished itself in the Nigerian financial services industry through superior service quality, unique customer experience and sound financial indices. The bank, with a knack for setting the pace and raising benchmarks, is a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

As a testament to its resilience and market leadership, Zenith Bank announced an impressive result for the year ended December 31, 2019, with profit after tax (PAT) of N208.8 billion, achieving the feat as the first Nigerian Bank to cross the N200 billion mark. In the recently released Q1 2020 unaudited financial results, the bank also recorded an improved result over the corresponding period in 2019, with gross earnings rising by 6% to N166.8 billion and profit before tax (PBT) growing 3% to N58.8 billion.

Consistent with this excellent performance and in recognition of its track record of exceptional performance, Zenith Bank was ranked as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co. The bank was also voted as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and other Financial Institutions (BAFI) Awards. Most recently, the bank was recognized as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the Banker Magazine “Top 500 Banking Brands 2020”, Best Bank in Nigeria in the Global Finance “World’s Best Banks Awards 2020” and the Bank of the Decade (People’s Choice) at the ThisDay Awards 2020.

Seasoned Journalist, Wale Fatade Eulogize CAPPA Africa Leader

Earlier today Wale Fatade on his Facebook page announces the birth of CAPPA Africa, the finicky writer and editor tell us more about his relationship with Akinbode Oluwafemi and the new born CAPPA

Yesterday, my friend of almost three decades, Akinbode Oluwafemi, took a bold step. Not one to be afraid, but dithering over the years on what some of us believed should be the next logical step of his career in social justice is another example of why he is Bode. Always putting the interest of others before his, he romanticises self-immolation so much that ‘others first’ remains his mantra. I mean how many people could turn down job offers with two international NGOs just to continue bringing succour to poor and marginalised people?

But he broke free. He decided to chart a new course. Together with his team, he started Corporate Accountability and Public Participation Africa (CAPPA) not Cappa and D’ Alberto, a new level in social justice movement not just in Nigeria, but in Africa as well.

Formed in the classical furnace of students’ movement of the mid -1980s to early 1990s at the University of Ilorin, Bode continued on the path with a career in journalism. But his heart was set on social justice, fighting for the rights of the oppressed and equitable distribution of resources for all.

It was Bode who will first go and volunteer his time and intellect at NGOs offices early in the morning before resuming at his desk in the afternoon since he was on the sub desk. While some of us limited our involvement in the fight against Abacha to our stories as journalists, my friend was part of the underground movement in the battle against dictatorship with other Nigeria Union of Journalists (NUJ) members. My path and Bode’s first crossed at The Guardian newspapers in 1996 and he used to envy us while we travelled across Nigeria. Now I don’t know the country my friend has not been to, he is one person the appellation ‘widely travelled’ fits so well.

He, however, could not continue with us as the pull became more serious. He resigned in 1999 to join the Environmental Rights Action/Friends of The Earth Nigeria. I remember some of our colleagues, especially seniors, who thought he was crazy. Guardian was the place to be then, but I knew if anybody could make a success of activism, my friend is one. And he has not disappointed. The day I knew he has made it was when I interviewed him for a story to mark World No Tobacco Day in 2000. I quoted the Irele Ekiti man in a story? That was it and there has been no looking back since then.

Of course his signature crusade was getting a tobacco control bill passed into law which he did together with other advocates. He was also involved in Our Water, Our Rights movement with others, practically forcing the Lagos Government to rescind its decision to criminalise the informal water sector.

Corporate Accountability and Public Participation Africa (CAPPA) works to advance human rights, challenge corporate abuse of our natural resources and build community power for inclusive development and participatory governance. A Pan – African organisation devoted to working with African communities to build partnerships with them towards taking collective social action towards the promotion and defence of the rights of peoples. It challenges the abuse of our natural resources, our environment and our people through corporate and state policies and practices.

CAPPA’s goal is Africa that is free of injustices and inequalities caused by corporations and unfair state structures.

FrieslandCampina WAMCO reports N161.8 billion turnover at AGM

…Pledges to Lead Dairy Development in Nigeria

Executive Director, Finance, FrieslandCampina WAMCO Nigeria Plc, Mr. Dirk van Breen; Managing Director, Mr. Ben Langat; Chairman, Mr. Moyo Ajekigbe; and Non-Executive Director, Rev. Isaac Agoye, at the 47th Annual General Meeting of FrieslandCampina WAMCO Nigeria PLC held yesterday at the FC Academy in the Company’s Head Office, Ikeja, Lagos.

Nigeria’s foremost dairy company, FrieslandCampina WAMCO Nigeria PLC, producers of Peak and Three Crowns milk has announced a turnover of N161.8 billion at the 47^th Annual General Meeting held at the FC Academy in the Company’s Head Office at Ikeja, Lagos, Thursday, 25 June 2020.

The meeting was held under strict adherence to government-approved COVID-19 protocols, including social distancing and restrictions on the maximum number of persons at a gathering.

As a result, the Annual General Meeting (AGM) was streamed live for shareholders and other relevant stakeholders to participate in the proceedings. Shareholders were earlier invited to give their proxy to representatives published on the Proxy Form contained in the Company’s 2019 Annual Report, to act on their behalf.

At the meeting, FrieslandCampina WAMCO reported a turnover of N161.8 billion representing an 8.5% increase over 2018 and a Profit Before Tax (PBT) of N18.8billion, a 15% increase over previous year.

The shareholders unanimously approved a total dividend payout of N9.49 per N0.50, having paid an interim dividend of N2.68 per N0.50 share in November 2019; and a final dividend payout of N6.81 per N0.50 share.

According to the Managing Director, Mr. Ben Langat, “In the year under review, the business environment remained challenging. In spite of the headwinds, FrieslandCampina WAMCO played a leading role in Nigeria’s backward integration initiative led by the Central Bank of Nigeria in the dairy sector.”

The company activated its Dairy Development Programme (DDP) in Bobi Grazing Reserve, modeling its 10year success of the programme on a 10,000-hectare grazing reserve in Mariga local government area of Niger State.

In line with its business plan, the Company commissioned a state-of-the-art factory for the production of yoghurt and introduced the new Peak Yoghurt Drink in three distinct flavours (Plain Sweetened, Strawberry and Orange) into the market.

Business Outlook 2020

The Board of Directors and Management of FrieslandCampina WAMCO remain positive and confident about the future of the Company despite the disruption by the current pandemic. The Company will remain focused on its purpose of providing better nutrition and advocating healthy living. FrieslandCampina WAMCO will continue to actively engage consumers and pursue its backward integration for business sustainability.

The 47^th Annual General Meeting adopted the Company’s financial statement for the year under review. The report can be found on the Company’s website www.frieslandcampina.com.ng

Whistleblower Accuse AGF Malami of Exploiting $1 Billion NPA Secret Account Money

Abubakar Malami, the Attorney-General of the Federation and Minister of Justice, has been accused by a whistleblower, John Okpurhe, of refusing to pay him the reward after exposing over $1 billion government money hidden in Unity Bank Plc.

In a letter dated June 22, 2020, written to President Muhammadu Buhari by his lawyer, Aliyu Lemu, the whistleblower said the account was secretly being operated by the Nigerian Ports Authority to illegally collect revenue from vessels.

He said upon discovery, he informed the Office of the AGF in line with the whistleblower policy of the secret account and an agreement was signed.

The agreement stated that Okpurhe would be entitled to a reward if the information provided turned out credible.

The whistleblower said after playing his own part, the AGF’s office began to play games.

The letter read in part: “Pursuant to the whistleblower policy of the Federal Government, our client approached the Office of the AGF with confidential information in respect of hidden public funds concealed within a commercial bank in Lagos contrary to the Treasury Single Account policy which requires all public revenue or funds to be domiciled in the Central Bank of Nigeria.

“Our client presented the Office of the AGF with qualifying information on a cloned account with the Nigerian Ports Authority which was being used to illegally collect revenue from vessels by the signatories who are no longer in the service of the NPA.

“Upon establishing that our client’s information qualified under the whistleblower policy, the Office of the AGF signed a whistleblower agreement with our client through his appointed counsel- Mamman, Maiyaki & CO.

“The information provided by our client eventually led to the exposure of the hidden/concealed funds in Unity Bank Plc to the tune of $1, 034, 515, 000 (One billion, thirty four million, five hundred and fifteen thousand dollars only).”

The whistleblower said the Office of the AGF had been making flimsy excuses as to why the reward was not paid.

He said the Head of Asset Management and Recovery Unit, Ladidi Mohammed, informed him that the matter was in court and the plans had changed.

He added: “On the next day, one Ms. Bunmi who deputizes for Mrs. Mohammed, called our client and asked him to come alone without a lawyer. Upon arrival, she informed our client that there was no pending matter in court on the account.”

The whistleblower said he was told that because the money involved was huge, the Office of the AGF recommended a private firm with which he should enter into a contract to help him get the funds.

The whistleblower said upon the insistence of the AGF’s office, he was made to sign a Memorandum of Understanding with the company to forfeit 60 per cent of his reward.

He said in a dramatic twist, his lawyer was attacked by armed policemen in his office who robbed him and made away with the original copy of the agreement signed with the AGF.

Okpurhe called on the President to quickly intervene as failure to pay him could compromise the whistleblower policy and affect public trust in the government.

Ecobank Nigeria Extends Zero Charge For Digital Money Transfers

The zero charge for mobile money transfers by Ecobank commenced in March as part of the bank’s corporate action to cushion the rising spread of Coronavirus.

Ecobank has extended its zero-charge fee for digital money transfers below N5,000 till the end of September this year. In addition to the free USSD session fee currently enjoyed by Ecobank customers, users of Ecobank Mobile, Ecobank Online, USSD – Ecobank *326# can continue to enjoy zero fee charge for digital money transfers below N5,000. New customers can also benefit from this by opening an Xpress account from the comfort of their homes by simply dialling *326#.

The zero charge for mobile money transfers by Ecobank commenced in March as part of the bank’s corporate action to cushion the rising spread of Coronavirus. The decision to extend the zero-charge policy is hinged on the bank’s drive to continuously encourage citizens to adopt digital banking particularly with the ongoing social distancing campaign targeted to check the spread of COVID-19.According to Olukorede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, “As a bank, our priority is people’s wellbeing. We place great emphasis on rewarding and identifying with our customers and citizens of Nigeria especially at a time like this. We are determined to ensure that the impact of the pandemic is minimal on citizens. We encourage our customers to utilize our digital self-service solutions including Ecobank mobile app, Ecobank Online, EcobankPay, Ecobank Omniplus, Omnilite and the rapid transfer app; where they can easily access their bank accounts, make payments, transfer funds, process salaries and carry out ancillary banking transactions from the comfort of their home and offices without having to visit the branches”.

She further stated that, “At Ecobank, we are always finding ways to improve our customer experience digitally, which is why I encourage our customers to upgrade to the new Ecobank mobile app 4.0. Customers can carry out banking transactions and enjoy some of the new features that the app provides, such as the ability to send money via email or SMS and of course, take advantage of the zero charge on money transfers below N5,000”.She added that the bank was also supporting over 50,000 farmers across the country to grow maize, under the CBN Anchor Borrowers program with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN)