How Adron Homes Transform Shimawa into Ogun State Premier Real Estate Hub
Shimawa, a once tranquil and little-known town in Ogun State, has emerged as the premier real estate location in the region, thanks to the transformative efforts of Adron Homes. This metamorphosis has redefined the town’s identity, making it a beacon of modern living and investment opportunities.
Adron Homes’ strategic initiatives have played a central role in Shimawa’s transformation. By developing numerous estates with state-of-the-art amenities, Adron has set new standards for residential living. These estates are equipped with modern infrastructure, including well-paved roads, reliable water supply, and efficient drainage systems, enhancing the quality of life for residents. The real estate has sold out four estates in shimawa over 10 years and is currently selling five different estates in shimawa.
List of Adron Homes Estates In Shimawa
Treasure Park and Gardens Estate Phase 2 (City of David)
Treasure Park and Gardens Estate Phase 3 (Capetown)
Treasure Park and Gardens Estate Phase 3 Extention (Jerusalem City)
Treasure Park and Gardens Estate Phase 4 (Jerusalem Extention)
Treasure Park and Gardens Estate Phase 5 (City of God)
Adron Homes has introduced a range of affordable housing solutions that cater to different income levels. This inclusivity has attracted a diverse population, fostering a vibrant community. The availability of affordable, yet high-quality housing options has made Shimawa an attractive destination for both first-time homebuyers and seasoned investors.
The influx of new residents and businesses has spurred economic growth in Shimawa. Adron Homes’ developments have created numerous job opportunities in construction, real estate management, and ancillary services. This economic activity has not only improved the standard of living for many but has also positioned Shimawa as a hub for business and commerce in Ogun State.
Adron Homes’ commitment to sustainability is evident in its eco-friendly initiatives. Green spaces, parks, and recreational areas have been incorporated into the estates, promoting a healthy and sustainable lifestyle. These efforts have not only beautified the town but have also contributed to the well-being of its residents.
Shimawa’s transformation has caught the attention of investors, both local and international. The town’s strategic location, coupled with Adron Homes’ high-quality developments, has made it a prime investment destination. This influx of investment is set to further accelerate Shimawa’s growth and development.
Adron Homes places a strong emphasis on community building. Regular events, social gatherings, and initiatives to foster a sense of community have been integral to the company’s approach. This focus on community has created a welcoming and cohesive environment, making Shimawa not just a place to live, but a place to thrive.
The transformation of Shimawa into Ogun State’s best real estate location is a testament to Adron Homes’ vision and dedication. By providing affordable housing, fostering economic growth, promoting sustainability, and building a strong community, Adron Homes has set Shimawa on a path to continued success and prosperity. As a model of modern urban development, Shimawa stands as a shining example of what strategic planning and investment can achieve.
REDAN leadership Visits Adron Homes, commends Efforts of Real Estate to Nigeria’s GDP
The President of the Real Estate Development Association of Nigeria (REDAN), Prince Akinloye Adeoye, along with his Executive team, which consist of Dr Kunle Adeyemi, Vice President, REDAN(South/ West) and Mr Jide Ogunleye, REDAN Secretary visited the Chairman and Group Managing Director of Adron Homes and Properties, Aare Adetola Emmanuel King, at the company’s headquarters in Omole Phase 1, Lagos.
During the courtesy visit, the team headed by Prince Akinloye applauded Adron Homes and Properties for its efforts in providing affordable housing schemes and praised the company for consistently bridging the gap between the masses and affordable urban development. Prince Akinloye also commended Adron Homes for transforming many individuals from tenants to landlords, emphasizing the company’s transparency, commitment, and reliability which has set a positive example for other real estate brokers in Nigeria.
He highlighted the significant contribution of the real estate sector to Nigeria’s GDP, citing statistics from the Nigeria Bureau of Statistics for Q1 of 2024. He stressed the need for the government to uphold development standards, enhance industry regulations, and eliminate unethical practices in the real estate business. According to the Nigeria Bureau of Statistics, the real estate sector contributed N11.2 trillion, representing a 5.20% share of the GDP in Q1 of 2024. Although the sector showed nominal growth compared to the previous year, its real GDP growth was lower at 0.84%. He also disclosed that 11 trillion is more than enough to prove that real estate business in Nigeria is a lucrative business that has come to stay and also implored the government to remain committed to upholding tenets of development and enhancing regulation of the industry to meet global practices and also make quackery in the business a thing of the past.
“The construction sector contributed 4.0% to the GDP, with a nominal growth of 10.24%, though it experienced a real growth rate decline of -2.14% year-on-year. Experts attribute this growth to increased government policies and investments, growing population demands for shelter, and significant contributions from the Nigerian diaspora.”
The Host, Aare Adetola Emmanuel King also commended the effort of the REDAN President and his team for their listening ears and also their constant proactive steps to ensure the industry is well regulated and all ethics of the industry is upheld. He also disclosed that Adron Homes will always be in partnership with the leadership of REDAN and will remain committed and continue to serve as an example to other real estate players on the issues of integrity and sincerity of purpose. He also disclosed that the visit will further rejig Adron’s commitment to more development of Homes and also continued partnership with the government to ensure affordable homes get more handy for all sundry.
Aare Adetola also implores the leadership of REDAN to enact more policies that will further put the business on a high pedestal which will enhance more funding, more investment through Foreign Direct Investment and also getting government support in the reduction of building materials and other household items which is currently serving as a bottleneck for the development of the business which has caused many Real estate companies to fold up, while some have started cutting corners due to high rates of materials.
“When materials are quite affordable, real estate will thrive. There would be buyers and off-takers. But with the current prices of cement, wood, nails, paints etc the prices of real estate are soaring high to the roof Government intervention and reducing tariffs on the importation of building materials will help cushion the effect and also put many back in business. Adron Homes and Properties is committed and we are here for collaboration for national development.”
ZENITH BANK EMERGES NIGERIA’S TIER-1 CAPITAL LEADER FOR THE FIFTEENTH CONSECUTIVE YEAR IN THE 2024 TOP 1000 WORLD BANKS’ RANKING
For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine. This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital of $2.01 billion. The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability. They are based on the 2023 year-end Tier-1 capital of banks globally and remain the primary source for global bank financials used by most international organisations in their assessments of banks.
Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective. According to the ranking, Tier-1 Capital, as defined by the latest Bank for International Settlements (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. A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.
Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are deeply honoured to be recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year. This recognition is a testament to our strategic focus on sustainable growth, innovation, and customer satisfaction. It also emphasises our resilience and strength in navigating the ever-evolving financial landscape. Our dedicated team of professionals has remained steadfast in ensuring that we maintain our position at the forefront of the banking industry.” She extended her profound and sincere appreciation to the Founder and Chairman, Dr. Jim Ovia, CFR, whose visionary and transformative leadership has played a pivotal role in cultivating a resilient and thriving establishment. She also expressed her deep appreciation for the board’s insightful governance, the staff’s relentless dedication, and the unwavering loyalty of the bank’s esteemed customers to the Zenith brand.
Zenith Bank’s financial performance for the year was driven by a remarkable triple-digit growth of 125% in gross earnings, from N945.6 billion reported in 2022 to N2.132 trillion in 2023. This growth led to an improved market share in both the retail and corporate segments despite a persistently challenging macroeconomic environment. The increase in gross earnings was primarily due to growth in interest and non-interest income. Interest income growth was attributed to the increase in the size of risk assets and their effective repricing, while non-interest income was driven by significant trading gains and gains from the revaluation of foreign currencies.
Zenith Bank recently commenced recapitalisation efforts with the conclusion of its Capital Markets Day held on 11th July 2024. It aims to raise the least amount of capital amongst its peers at N230 billion, considering it already maintains a robust capital base of N270.7 billion. The Bank remains dedicated to supporting the growth of the Nigerian economy and providing its numerous customers with innovative and efficient banking solutions.
Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions. These include being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fourteenth consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards.
Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.
The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards, Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.
WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY
The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria.
In its usual creative conjecture, 13O-year-old FirstBank, has hit the airwaves and other media outlets with various visuals to articulate its new campaign ‘The Giant in You’. Breaking down the central message, ‘there is a giant in you’ the campaign stylishly reminds the bank customer that ‘FirstBank Puts You First so you can’ before giving the match order, ‘Live the Giant-Life.
For a bank that settles for the big ‘elephant’, as logo and has remained strong for 130 years, worlds like giant, tall and strides, used in the various visuals are simply validations of its robustness, endurance, doggedness and tall ambition. As part of the ways to convey the bank’s message to its array of patrons, SO&U, the creative agency behind the campaign cleverly selected its cast and buildings, including FirstBank’s corporate headquarters, to reflect the bigness, the tallness and the boldness of the 130-year-old financial institution to rule the world as far as banking and business support are concerned.
Unraveling the ‘Giant’ strides…
Among other reasons, the new campaign must have been conceptualized to position FirstBank as a ‘giant’ and ‘future-ready’ institution that is dependable, innovative and proactive in supporting its customers and stakeholders win in the race to the future and be in a position to take advantage of the opportunities and possibilities of that emerging future. Driven by the conviction that consumers want to turn their big dreams into giant successes, the new campaign reminds the consumer that in today’s world of constant disruptions and integrated experiences, the customer needs a strong, stable and supportive partner, with the appropriate platforms, innovative solutions and networks to not only support their aspirations but also be responsive and adaptive enough to anticipate their needs and empower them to success.
Looking through the visuals and the television commercial, it’s easy to conclude that the campaign narrative is not about the brand but the customer. For instance, the creative path illustrates the world as it moves and changes at lightning speed, the customer is reminded that just like the world, everything within it is also changing, from economies to businesses and even opportunities. “We recognise that to be in sync with the world will require a forward thinking and future ready mindset …and we have created the atmosphere, products and services to help our customers,” the bank stated.
To underscore ‘the big idea’ and the ‘bringing out the Giant in you’ theme, key visuals speak to the essence of the campaign and are accompanied with long and straight legs in a demonstrative form to take the purported giant step. Here the messages are passed under the following; ready to take giant strides?, strides into the future, let’s take giant strides together, stand tall, stand out, think giant solutions, among others.
Facts and figures…
Like Coca-Cola, the world number one brand, one other thing that has consistently worked for the FirstBank brand is that the promoters have never, for once allowed complacency to set in. The implication of this is that the bank is not only the oldest, but also one of the most digitally compliant banks. Currently, First Bank stands tall via First Bank digital solutions, employs market-leading digital platforms and solution driven products and services. Besides, the use of AI and Robotic Process Automation (RPA) by the bank enables the financial brand to initiate 85 percent of its transactions via digital platforms leading to quick responses to customers’ needs and satisfaction. In this regard, FirstBank has been recognised by Interswitch as the first financial institution in Nigeria to achieve 100 million sustained monthly transactions in electronic payment and it has hit N1 trillion transactions through the FirstMonie Agent network.
Speaking during the unveiling of the new thematic brand campaign, Head, Brand and Stakeholder management at FirstBank, Yinka Ijabiyi, reiterated that FirstBank came up with the new campaign because of its belief that there is a ‘giant’ in every customer, every employee and every stakeholder. He said, “This campaign was informed by our belief that there is ‘giant’ in every stakeholder a giant dream, a giant possibility, a giant idea, a giant life and a giant future waiting to be birthed. Our commitment is therefore to provide all necessary business support, financial know-how and platforms to bring out the giant in every customer,”
Ijabiyi further pointed out that the campaign was conceptualised by the bank in a bid to show customers in its 130 years, that it has been supporting and creating giants and that it has no plan to stop anytime soon. He said the bank, in its celebration of its 130 years in business, came up with a campaign that speaks to the business essence of its brand which is making giants of its customers. “We have always done it and the fact we have been around for such a long time means good to everybody as we have been supporting businesses, individuals and government in those years. “We are making giants and there is no business that interacts with us that does not see the benefits in their business. We are making giants in our customers and we will not stop.
“We are the partner with tailored solutions for every customer, employee, and stakeholder. We have what it takes to turn dreams into giant successes. FirstBank’s services are designed to help customers “giant-size” their dreams, offering businesses the platforms and solutions needed to grow, innovate, and achieve remarkable success.” Ijabiyi added that the array of products, solutions and services offered by FirstBank cannot be compared with any financial services in Nigeria. For its customers, the bank said “We would enable, inspire and support you with our world of financial services to help you to giant-size your dreams and live your best life”. It also said it “would give businesses and business owners the right platforms and solutions they need to grow, initiate and execute bold ideas.
Meanwhile, the creative agency behind the campaign has hinted to the media that the unveiled materials were mere ‘tip of the iceberg’ as efforts are ongoing to domesticate the same campaign in local languages to connect with customers across the major ethnic groups in Nigeria.
A peep into the past…
When the promoters said First Bank was “truly the first, many grudgingly agreed. But deep inside its competitors – the possible grudging camp – is the truth regarding the extreme distance the bank has given others in performance and people relevance of its operations! They knew the bank was not bluffing. Not only has it rediscovered itself, but the ability to shed its ancient mindset in terms of operations and blend with modern trends in banking have left many agreeing that perhaps, the saying that the older the wine the better it gets in taste actually applies to FirstBank. To this end, it’s not by accident that First Bank has produced at least two former governors of the CBN and a Finance Minister, including Chief Joseph Sanusi and the current Emir of Kano, Sanusi Lamido Sanusi.
Perhaps the current campaign is an offshoot of a story-telling Television Commercial, by the bank to reflect the beginning of modern banking and how the bank has consistently grown with Nigeria’s enterprises through partnership and innovation.
The referenced TVC says it all: A combination of historical renaissance and quite prescient validation of the innovation that usually drives its bewitching communicational ads. From the groundnut pyramids of the north, which was the symbol of the regions commercial edge and the cocoa bean mountains of Western Nigeria to the rubber plantations of the East and Mid-eastern region, First Bank has applied its new campaign to remind its decades-old patrons, customers, and even competitors, that the beat has refused to abate.
Throughout the campaign, FirstBank subtly registers itself in the minds of the banking public that it’s entirely Nigerian – past, present, and the future. The well-crafted historical simulation captures how FirstBank opened its first branch in Lagos in 1894 and started helping merchandise and local traders to grow their businesses. The excitement and enthusiasm on the faces of the bank’s early customers after getting their cash books from the Lagos office say it all. Like someone who has gotten a glimpse of what the future holds with banking, the customers express surprises and happiness. The commercial captures the mood and goes back in memory lane on how the bank has helped many people succeed in their ventures. Subtly, the narrator takes viewers to Kano and reveals how the then richest men in the commercial city were making their deposit of 20 bags of Silver in an atmosphere that looks like the first operational day of the bank.
Perhaps the beauty of the commercial lies more in the way it strikes a balance between the ancient and the modern days through setting and swapping of background colours. This was cleverly explored in referencing the way the bank transformed into an online haven, driven by technology. While reminding the patrons of the bank’s transformation and technological advancement, the narrator is quick to talk about the expansion of the bank beyond the shores of Nigeria to the West-African region and beyond. The TVC also positions FirstBank as a socially responsible brand by touching on various initiatives it has embarked on. Specifically, First Bank’s contribution to Sports through its support for football and athletics is captured very well. The ‘Giant in You’ is another chapter as the bank begins a fresh journey after operating for 130 years.
The highly anticipated Miss Ibadan Beauty Pageant & Awards organized by Aderonke Omo Dairo Foundation has announced their dynamic duo of hosts: Prince Phelar and Adejoke Ewa Ede Yooba.
The theme of event this year is “Believe in you… surviving sexual Assault and Rape”.
The Event is billed to take place on the 3rd of August, 2024, at Sophia Event Place, Joke Plaza, beside Trans Amusement Park, Bodija, Ibadan.
Prince Phelar is a renowned event host and master of ceremonies, with over 10 years of experience. He has hosted numerous high-profile events, including weddings, corporate events, and product launches. His ability to engage and entertain audiences has made him one of the most sought-after hosts in Nigeria.
Adejoke Ewa Ede Yooba is a seasoned media personality with a wealth of experience in radio and television broadcasting. She has worked with various media houses in Nigeria, including NTA and Splash FM. Adejoke’s warm and engaging personality has endeared her to many fans and has made her a household name in Ibadan.
The hosts of Miss Ibadan Beauty Pageant & Awards have promised to deliver an unforgettable experience for attendees, with their unique blend of wit, humor, and professionalism. The event promises to be a celebration of culture, beauty, and excellence, with 10 contestants vying for the coveted crown.
The event will also have two of Ibadan’s finest comedians, Taichi and Creative Tobi dishing out rib cracking jokes at intervals.
“We are thrilled to have Prince Phelar and Adejoke Ewa Ede Yooba as our hosts for “Miss Ibadan Beauty Pageant & Awards,” said the Pageant Organizers.
“Their experience and expertise will ensure that our guests have an amazing time, and we look forward to a successful event.”
Tickets for Miss Ibadan & Awards are now available on our website, and fans can follow the us on social media for updates and behind-the-scenes contents. Miss Ibadan Beauty Pageant & Awards
Email: missibadan@gmail.com
Nigerian government needs to invest more on filmmaking – Doyin Aggrey
Resourceful Nollywood actress and producer, Doyin Aggrey has called on the Nigeria government to invest more in filmmaking, as the sector is obviously capable of turning the country’s economy around.
Nigeria is one of the countries in the world currently going through economic recession, and this has resulted in a series of heated debates and protests from members of the public. But Doyin Aggrey believes that if the government at all levels can intensify their support to the entertainment industry, more fortune would smile on Nigeria.
She noted that though the entertainment sector has always exhibited the capacity of being Nigeria’s biggest export, recent feats recorded by Nollywood movies on international platforms like Netflix is enough evidence.
“The international community has identified Nollywood as a viable source of revenue, and they’re investing in it massively now. With the investment of platforms like Netflix and Prime Video, the standard of our filmmaking has tremendously improved, and it is a win-win situation for all parties. If the government can also take advantage of this, I’m sure Nigeria’s economy will bounce back because entertainment is our best export at the moment,” Aggrey stated.
She however advised aspiring actors to embrace a career in acting, only if they genuinely have the passion to do so. “Like I always tell people, acting is not a career you will choose simply because you see how rich and famous the practitioners are and you want to emulate their lifestyles. It doesn’t work like that, and trust me; it’s those who come into the industry with such motives that usually lament.
“If you don’t have passion for acting, surviving or enduring the challenges of the industry before becoming a celebrity would be impossible,” Aggrey warned.
Meanwhile, the Ijebu-Ode, Ogun State born filmmaker and producer of ‘Italian Gold’ is currently warming up to hit location for the shoot of another movie from her stables.
Adron Homes Boss, Aare Adetola EmmanuelKing Felicitates With Ogun State First Lady, Mrs. Bamidele Abiodun, on Her 57th Birthday
The Chairman/CEO Adron Group, Aare Adetola EmmanuelKing, has extended warm felicitations to Her Excellency, Mrs. Bamidele Abiodun, the First Lady of Ogun State, on the occasion of her 57th birthday.
In his congratulatory message, Aare EmmanuelKing lauded Mrs. Abiodun’s unwavering dedication to the welfare of women and children in Ogun State, highlighting her numerous philanthropic activities and her pivotal role in community development. He commended her compassionate efforts in advocating for the rights and welfare of the less privileged, which have significantly impacted the lives of many.
“Your Excellency, your exemplary life and steadfast dedication to the betterment of Ogun State and its people have been a beacon of inspiration to many. Your leadership and passion have not only complemented the vision of His Excellency, Prince Dapo Abiodun, but have also played a crucial role in the continuous progress and transformation of Ogun State,” Aare EmmanuelKing stated.
He further praised Mrs. Abiodun for her support of initiatives aimed at enhancing health and education in the state, acknowledging her contributions to fostering a better and more inclusive society. Aare EmmanuelKing expressed his prayers for her continued good health, happiness, and the fulfillment of all her aspirations.
As Mrs. Abiodun celebrates this significant milestone, Aare EmmanuelKing joined her family, friends, and well-wishers in celebrating her remarkable achievements and contributions to Ogun State. He wished her a joyous birthday filled with peace, prosperity, and continued success.
Adron Homes and Properties Ltd., under the leadership of Aare Adetola EmmanuelKing, remains committed to supporting the growth and development of Ogun State and looks forward to continuing its collaboration with the government in achieving these goals.
Adaora Umeoji Highlights Zenith Bank’s Robust Financial Metrics: Says Bank Is Poised To Cross The N1 Trillion Mark In Profit In 2024.
Zenith Bank Plc, Nigeria’s leading financial institution, held its Capital Markets Day last week to showcase the bank’s inherent values as it embarks on its recapitalisation journey. The event, which brought together key market players, focused on the bank’s growth trajectory, strategic objectives, market performance, and consistent, robust dividend payout over the years. It also provided an opportunity for the bank to inform capital market stakeholders about its robust risk management culture, adherence to regulations, capital adequacy, and maintenance of low non-performing loan levels.
Addressing capital market stakeholders, investors, and analysts at the event in Lagos, the Group Managing Director/Chief Executive Officer, Dame Dr Adaora Umeoji, highlighted the financial institution’s tier-1 capital of N1.8 trillion, shareholders’ funds of N2.3 trillion, market capitalisation of N1.3 trillion, a profit before tax of N796 billion, and a dividend of N4 per share for the year ended December 2023. Providing guidance for 2024, she noted that, given the trend of the bank’s performance and having achieved a profit before tax of N796 billion in 2023 and N320 billion in the first quarter of 2024, the bank is on track to deliver over N1 trillion in profit before tax in 2024. She expressed confidence that, with the quality of the board and management and a strong corporate culture, the bank is well-positioned to deliver superior value to investors and other stakeholders and to navigate the recapitalisation process successfully. She also disclosed some of the bank’s future plans, which include driving financial inclusion, expanding corporate and retail banking through technology and other state-of-the-art digital platforms, and establishing a fintech subsidiary, ZenPay, to drive profitability. Additionally, the bank intends to expand to France and other Francophone African countries.
Dr Umeoji explained, “For us at Zenith, we won’t be left out. We are planning to go to the market to raise capital, and as it stands, Zenith Bank has the least amount of capital to raise. We are looking to raise N230 billion because we are already at N270.7 billion. That is the least capital to raise among our peers. We believe that Zenith Bank has what it takes. We have the capacity, the network, the balance sheet, the human capital, and the track record to achieve that. We are planning for the future, and the technology we have now is the best in the entire industry. It will help us to have a seamless process and integrate.”
Also speaking, the Chief Financial Officer/General Manager, Dr Mukhtar Adam, pointed out that in the last five years, the bank’s Compound Annual Growth Rate (CAGR) in revenue has grown by over 27 per cent. “This continues to grow year-on-year. Within this period, at some point, Nigeria went into recession, but we forged ahead, worked very hard, and continued to deliver growth. Within the last five years, our profit before tax has also grown cumulatively by about 28 per cent. This is a market where, at some point, government instruments – treasury bills – were paying one per cent, two per cent, three per cent. But we forged ahead to grow the numbers and provide stable returns of at least 28 per cent.”
Zenith Bank recently emerged as the Best Commercial Bank, Nigeria, in the World Finance Banking Awards 2024, retaining the award for the fourth consecutive year. The bank was also named Best Corporate Governance, Nigeria, for the third year running in the World Finance Corporate Governance Awards 2024. The awards, published in the Summer 2024 issue of World Finance Magazine, recognise the bank’s robust financial performance, superior customer service, sustainability initiatives, and corporate governance practices.
Commenting on the dual honours, Dr. Umeoji said, “These awards highlight our steadfast dedication to excellence, adherence to global best practices, and our persistent effort to deliver superior value to all stakeholders through innovative products and services. Receiving these awards consecutively for multiple years signifies the commitment of our staff, the loyalty of our customers, and the support of our shareholders. We remain devoted to setting industry benchmarks and driving excellence across all aspects of our operations.”
Dr. Umeoji also expressed delight at the recognition and dedicated the awards to the Founder and Chairman, Dr. Jim Ovia, CFR, for his impactful leadership in establishing a robust and flourishing institution. She also expressed gratitude to the board for their vision and insight, the staff for their unwavering dedication, and the bank’s customers for choosing Zenith as their preferred bank. World Finance is a leading international magazine providing comprehensive coverage and analysis of the financial industry, international business, and the global economy.
In its audited results for the year ended December 31, 2023, Zenith Bank achieved a remarkable triple-digit growth of 125 per cent in gross earnings, from N945.6 billion reported in 2022 to N2.132 trillion in 2023. The impressive growth in gross earnings resulted in a year-on-year increase of 180 per cent in profit before tax (PBT), from N284.7 billion in 2022 to N796 billion in 2023, while profit after tax (PAT) also recorded triple-digit growth of 202 per cent, from N223.9 billion to N676.9 billion for the period ended December 31, 2023.
The increase in gross earnings was primarily due to growth in interest and non-interest income. Specifically, its interest income increased by 112 per cent, from N540 billion in 2022 to N1.1 trillion in 2023, while non-interest income grew by 141 per cent, from N381 billion to N918.9 billion in the same period. The rise in interest income was attributed to the growth in the size of risk assets and their effective repricing, alongside the increase in yield of other interest-bearing instruments over the year. Growth in non-interest income was driven by significant trading gains and an increase in gains from the revaluation of foreign currencies.
Zenith Bank’s cost of funds also grew from 1.9 per cent in 2022 to three per cent in 2023 due to the high interest rate environment, while interest expense increased by 135 per cent, from N173.5 billion in 2022 to N408.5 billion in 2023. Notwithstanding the 32 per cent growth in operating expenses in 2023, the Group’s cost-to-income ratio improved significantly from 54.4 per cent in 2022 to 36.1 per cent in 2023 due to improved top-line performance. Return on Average Equity (ROAE) increased by 118 per cent, from 16.8 per cent in 2022 to 36.6 per cent in 2023, underpinned by improved gross earnings, as the Group sought to deliver better shareholder returns. Return on Average Assets (ROAA) also grew by 95 per cent, from 2.1 per cent to 4.1 per cent in the same period.
Zenith Bank was established in May 1990 and commenced operations in July of the same year as a commercial bank. The bank became a public limited company on June 17, 2004, and was listed on the Nigerian Stock Exchange (NSE) on October 21, 2004, following a highly successful Initial Public Offering (IPO). In 2013, the bank listed $850 million worth of its shares at $6.80 each on the London Stock Exchange (LSE). Headquartered in Lagos, Nigeria, Zenith Bank Plc has more than 400 branches and business offices in prime commercial centres across all states of the federation and the Federal Capital Territory (FCT).
Zenith Bank Plc, founded by Jim Ovia, CFR, in 1990, has since grown to become one of the leading financial institutions in Africa. The underlying philosophy is for the bank to remain a customer-centric institution with a clear understanding of its market and environment. Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards. These latest accolades follow several recognitions, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria, in the International Banker 2024 Banking Awards, among several others.
Zenith Bank Plc has blazed the trail in digital banking in Nigeria, achieving several firsts in the deployment of Information and Communication Technology (ICT) infrastructure to create innovative products that meet the needs of its customers. The bank is a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with state-of-the-art technologies in banking. Driven by a culture of excellence and strict adherence to global best practices, the bank has combined vision, skilful banking expertise, and cutting-edge technology to create products and services that anticipate and meet customers’ expectations, enable businesses to thrive, and grow wealth for customers.
Adron Is The Biggest: A Growing Initiative In Nigeria’s Real Estate Market
Pioneering affordable housing solutions in Nigeria, Adron Homes and Properties remains a leading name in the real estate sector. Since its inception in 2012, Adron Homes has consistently redefined the real estate landscape, achieving significant milestones and breaking barriers that have set new benchmarks in the industry. Through its innovative approach, the company has become synonymous with quality, reliability, and customer satisfaction.
Having built a strong foundation of exceptional service, the organization has not only achieved unparalleled growth but also made significant progress and created a reputable name for itself. This is evident in its groundbreaking estates and modern architectural designs imbibed by the real estate company. Adron Homes has transformed the concept of affordable housing, ensuring that quality is not compromised while making homeownership dreams a reality for many Nigerians.
With over 48 estates, strategically positioned in about 9 states with numerous locations across Nigeria, Adron Homes has upheld its 2024 mantra of being the biggest and hopes to set a record as the most successful real estate developer in Nigeria. These estates are designed with the residents’ comfort and convenience in mind, offering a range of amenities that cater to their needs. Each estate is a testament to the company’s dedication to creating sustainable and livable communities.
Fueled by hard work, with a commitment to excellence and innovation, the organization is well acquainted with the concept of quality and reliability. Adron Homes’ growth can be attributed to its unwavering dedication to maintaining high standards and constantly improving its offerings. The company’s focus on customer satisfaction has earned it a loyal clientele and numerous accolades in the real estate industry.
Through strategic initiatives such as their 10/10 Vidco plot series offer and a customer-centric approach, Adron Homes continues to expand its footprint across Nigeria, delivering services and products that exceed market expectations and set the pace for other real estate developers. The 10/10 Vidco plot series is an innovative scheme that allows customers to own plots of land with flexible payment options, making it easier for more people to invest in real estate.
Adron Homes understands the importance of accessibility and affordability in real estate. By offering flexible payment plans and various promotional offers, the company ensures that homeownership is within reach for a broader segment of the population. This inclusive approach has not only boosted Adron Homes’ market presence but also strengthened its reputation as a customer-friendly and socially responsible organization.
The “Adron Is The Biggest” initiative underscores the company’s dedication to pushing boundaries and setting new standards of excellence in real estate development. This initiative is not just a slogan; it represents Adron’s commitment to continuous improvement and innovation. By leveraging cutting-edge technology and adopting best practices, Adron Homes is redefining the real estate landscape in Nigeria.
The real estate company’s unwavering commitment to delivering superior developments and creating lasting value for all clients and stakeholders is evident in every project it undertakes. The company’s estates are designed with modern architectural aesthetics and functionality, ensuring that they meet the highest standards of quality and sustainability. Adron Homes invests in the latest construction technologies and materials, ensuring durability and efficiency in all its developments.
Adron Homes takes pride in offering a wide range of amenities that enhance the living experience of its residents. These amenities are designed to cater to various needs and preferences, making Adron estates desirable places to live. Here are some of the key amenities available in Adron Homes estates:
1. Recreational Facilities: Modern gyms, swimming pools, and sports complexes for fitness and leisure activities. These facilities provide residents with opportunities to maintain an active and healthy lifestyle.
2. Green Spaces: Beautifully landscaped gardens and parks that provide a serene environment for relaxation. These green spaces offer residents a peaceful retreat from the hustle and bustle of city life, promoting mental well-being and community bonding.
3. Security: 24/7 security services, CCTV surveillance, and gated communities ensuring the safety of residents. Adron Homes prioritizes the safety and security of its residents, implementing robust security measures to create a secure living environment.
4. Educational Institutions: Proximity to quality schools and educational centers. Adron estates are strategically located near reputable educational institutions, making them ideal for families with school-going children.
5. Healthcare Facilities: Access to top-notch healthcare services and hospitals. Residents have peace of mind knowing that quality healthcare services are within reach in case of emergencies.
6. Shopping Centers: Convenient shopping malls and retail outlets within the estates. These shopping centers provide residents with easy access to essential goods and services, enhancing their convenience and quality of life.
7. Infrastructure: Well-paved roads, reliable electricity, and efficient water supply systems. Adron Homes ensures that its estates are equipped with the necessary infrastructure to support a comfortable and modern lifestyle.
8. Community Centers: Spaces for social gatherings, events, and community activities. These centers foster a sense of community and belonging among residents, encouraging social interaction and engagement.
Moreso, Adron Homes has several upcoming projects that promise to redefine urban living and affordable housing spaces across Nigeria. One such project is the Snowfall Park and Gardens in Jos, Atlantic Park and Gardens in Sagamu, and Moscow Parks and Gardens in Ibadan which is set to become a landmark development in the respective regions. This project will feature state-of-the-art amenities and innovative design concepts, further solidifying Adron Homes’ position as a leader in the real estate industry.
Adron Homes’ expansion plans are driven by its vision of providing quality housing solutions to a larger population. By entering new markets and exploring untapped opportunities, the company aims to extend its reach and impact more lives. Adron Homes’ growth strategy is centered on sustainability and community development, ensuring that its projects contribute positively to the socio-economic landscape of Nigeria.
It is worthy to say, that Adron Homes and Properties has established itself as a formidable force in the Nigerian real estate sector. Through its commitment to excellence, innovation, and customer satisfaction, the company has achieved remarkable success and set new standards in the industry. The “Adron Is The Biggest” initiative is a testament to the company’s dedication to growth and excellence.
With a strong focus on quality, reliability, and community development, Adron Homes continues to lead the way in providing affordable and sustainable housing solutions. As the company embarks on new projects and expands its reach, it remains steadfast in its mission to create lasting value for its clients and stakeholders. Adron Homes is not just building houses; it is building communities, fostering growth, and shaping the future of real estate in Nigeria.
Rivers: Group Welcomes Appeal Court Judgement Rejecting Tenure Elongation for Ex-LG Chairmen
The National Vanguard for Rule of Law (NVRL) has commended the Court of Appeal’s decision to strike out two appeals filed by former Local Government Chairmen in Rivers State, loyal to former governor Nyesom Wike.
The appeals sought to extend their tenure, but the Court of Appeal found them to be without merit.
In a statement by its President, Comrade Johnson Babatunde, the NVRL praised the justices of the Port Harcourt Division for their courage and integrity in delivering a sound judgment, despite alleged attempts to induce them with money to pervert justice.
He said the judgement is a resounding victory for democracy, the rule of law, and the people of Rivers State.
Babatunde added that the ruling serves as a strong message to politicians who seek to exploit loopholes and manipulate the system for personal gain.
The group believes that this judgement gives Nigerians hope in the judiciary and demonstrates that the court remains the hope of the common man.
The appeals, marked CA/PH/137M/2024 and CA/PH/145M/2024, were filed by Hon. Enyiada Cookey-Gam and six others, challenged the decisions of the lower court on the elongation of their council leadership tenure.
However, the Court of Appeal found the appeals to be without merit and consequently struck them out.
Babatunde said: “We commend the justices of the Portharcourt Division for once again delivering a sound judgment, upholding the rule of and giving Nigerians hope in the judiciary.
“We understand the enemies of Rivers State have been inducing judges with money to deliver black market judgments in their favour. We believe that the Justices of the Portharcourt Division must have been tempted with all forms of inducement to pervert justice, but as men of courage and integrity, they have chosen to uphold the rule of law.
“We criticize the former Local Government Chairmen for their attempt to subvert the democratic process and extend their tenure illegally.
“Their actions were driven by a desire for self-preservation and a disregard for the welfare of the people they were elected to serve. Their tenure elongation bid was a brazen attempt to defy the constitution and perpetuate themselves in office.
“We commend Governor Simi Fubara and the Rivers State Government for their unwavering commitment to upholding the constitution and defending the interests of the people.
“We urge the government to continue to prioritize the welfare and well-being of the people, and to ensure that democratic governance is entrenched in Rivers State”.
The NVRL also called on Nigerians to support judges who deliver sound judgments and urged the people of Rivers State to continue to support Governor Fubara in delivering dividends of democracy to the state.
The group encouraged the people to prepare for the forthcoming local government elections to replace those who sought to extend their tenure through illegal means.
