The National Chairman of the ruling All Progressives Congress (APC), Abdullahi Adamu, on Saturday said no presidential aspirant had been disqualified from contesting at the party’s presidential primary slated for Monday.
Adamu said this while briefing the media at the APC headquarters in Abuja this afternoon.
This newspaper had reported that out of the 23 aspirants screened in two days, the Chairman of the APC presidential screening committee, John Odigie-Oyegun, while submitting his committee’s report to Adamu on Friday, said 10 persons were disqualified.
Those not included in the list are; Rochas Okorocha, Tunde Bakare, Ben Ayade, Sani Yerima, Ken Nnamani, Ikeobasi Mokelu, Dimeji Bankole, Felix Nicholas, Robert Borrofice and Uju Ken Ohanenye.
However, in a fresh twist today, the party leadership seems to have discarded the list.
The Chairman of the independent National Electoral commission (INEC), Mahmood Yakubu, has announced withdrawal of sensitive electoral materials from the custody of the Central Bank of Nigeria (CBN).
Yakubu disclosed this at an ongoing symposium tagged “The Electorate: A Conversation on Elections in Nigeria” taking place at the Musa Yar’Adua Centre, Abuja.
He said in the interim, the CBN will no longer be in charge of election materials beginning with the Ekiti state governorship election.
According to Yakubu, the commission took the decision to prevent such materials from being compromised.
THE WHISTLER earlier reported that the INEC Chairman had told journalists at a briefing last month the commission had “already started talking about what alternatives are available to us in case we need to change the arrangement for the handling of sensitive materials.”
The CBN Governor, Godwin Emefiele, had made a failed attempt to contest for the position of the president of Nigeria on the platform of the ruling All Progressives Congress (APC).
The move had sparked outrage from Nigerians and civil society organizations who called on INEC to withdraw the 2023 election materials from the CBN on the grounds that its head had become partisan and a politician.
Bashir El-Rufai, the son of the governor of Kaduna State, Nasir El-Rufai has warned the All Progressives Congress against denying the national leader of the party, Bola Tinubu the party’s presidential ticket in 2023.
Bashir stated this while reacting to the statement of Tinubu while addressing delegates of the party in Ogun State on Thursday.
Tinubu who sought the support of delegates from the state had claimed that it was the turn of the South-West and for him to take over the presidency in 2023.
The former Governor of Lagos State noted that he is the right candidate to take over from President Muhammadu Buhari at the end of his tenure.
Bashir in his reaction to the statement warned that the ruling party might crash if it fails to give Tinubu its presidential ticket in 2023.
There have been speculations that Tinubu might dump APC for the Social Democratic Party if he fails to win the presidential ticket of APC.
Bashir in a post on his Twitter account on Friday wrote, “If this man doesn’t get this ticket this “party“ as we know it immediately ceases to exist as a single entity.”
Senior members of the Muhammadu Buhari presidency, infamously referred to as the Cabal, have reportedly sold the candidature of Senate President Ahmad Lawan to the president.
This coming a few days to the presidential primary of the All Progressives Congress (APC).
It was gathered President Buhari is expected to present Lawan to the critical stakeholders of the party as his preferred candidate for the party’s ticket.
According to multiple sources, the Aso Villa Cabal has secured the buy-in of the president for Lawan.
One of the sources, a former governor, told Daily Trust that: “Buhari’s nephew, Malam Mamman Daura, a former director-general of the Department of State Services (DSS), Lawal Daura, and the national chairman of the party, Senator Abdullahi Adamu, have succeeded in ramming Lawan down the throat of the president.”
However, the former governor warned that forcing Ahmad Lawan on the party would lead to disaster and implosion.
“Atiku Abubakar will be declared the president-elect by noon on the election day,” he said.
Kashim Shettima, a former governor of Borno State, on Friday evening said Vice-President Prof. Yemi Osinbajo, who is aspiring for the presidency in 2023, “should be selling ice-cream” because he is “a good and nice man”.
He said this while featuring on a programme on Channels TV, monitored by POLITICS NIGERIA.
“Osinbajo is a good and nice man, but nice men don’t make good leaders. Nice men should be selling ice cream,” Shettima, a supporter of Bola Tinubu, National Leader of the All Progressives Congress (APC), said.
Backing his candidate’s boasts about him helping Muhammadu Buhari to be president in 2015, Shettima said nobody can dispute Tinubu’s claims.
“He played a very crucial role in the ascendancy of President Buhari. I was a founding member of the APC; I can confirm this.”
The Special Convention that’ll produce the presidential flagbearer of the APC is scheduled for June 6-8.
After many years of her crashed union with her husband cum manager Teebillz, Nigerian sensational singer Tiwa Savage has revealed the kind of man she’s looking forward to date.
Tiwa Savage while performing during a recent music concert said she’s not looking for a man that has money.
In the video shared on her Instagram story, Tiwa Savage said she feels less impressed with any man that wants to spend money on her because she has her own money too.
Speaking further, Tiwa Savage said she can walk away from any unpleasant situation by jumping into her car because of the money she possesses.
She added that any man coming for a relationship with her must match with her own energy.
In her words: “I was telling my stylist, not like I’m just for looking any guy that has money because I‘ve the money, too. For real If do anyhow, I will get into my landrover and move, all I’m saying is we gat to match our energy. You got to match my energy. So from now we are looking for someone that will add to our fun”
Former Secretary to the Government of the Federation, Babachir David Lawal has described as ‘bulshit’, the statement credited to a presidential aspirant and national leader of the All Progressives Congress, Asiwaju Bola Tinubu.
Tinubu while addressing the Ogun State APC delegates at the Presidential Lodge, Abeokuta, Thursday stated that he brought President Muhammdu Buhari out of political retirement and assisted him to emerge Nigeria’s President in 2015.
His words: “If not me that led the war front, Buhari would not have emerged. He contested first, second and third times, but lost. He even said on television that he would not contest again.
“But I went to his home in Katsina, I told him you would contest and win, but ‘you would not joke with Yoruba matters.
“Since he has emerged, I have not been appointed minister. I didn’t get a contract.
“This time, it’s the Yoruba’s turn and in Yorubaland, it’s my tenure.”
Reacting to his statement, Lawan argued that Tinubu was not the only person that made the difference, saying there were many others who supported Buhari and never bragged about it.
Disclosing this in a statement made known to Vanguard, Lawan said: “Sometimes it is very difficult to support a Yoruba person in national politics if you are not one.
“They have a way of making you regret your support because they eventually make you seem like a traitor to your own people. Now all these comments about Bola’s Yoruba presidency and his support of Buhari without which Buhari would not have been president is bulshit.
“He wasn’t the only one whose support made a difference. There were many others from all around the country and they are not bragging about it.
“You may wish to know that all of us Buhari supporters are shocked and pissed off by Bola’s speech on this occasion. It is unlike him.
“And this speech is massively trending in the North and being given a negative connotation as you can well imagine. I first read it this morning on an Adamawa group platform and the anger is palpable and all round.
Will Tinubu win Monday’s APC primaries without Northern support?
“You would think Yorubas will resist the temptation of joining in the northerners-bashing game at this very critical time – the primary election is only three days away. It is unfortunate that Bola himself chose to join in this bashing game – choosing to speak in the Yoruba language and in Yoruba land in a manner that seems to denigrate Buhari. I could vividly imagine the discomfort of all the northerners sitting beside him on that podium.
“This appears to be the Abiola saga being replayed. Abiola won the election with majority Northern votes but they took the brunt of the post-election protests that followed.
“Just survey all the people that are doing more meaningful practical things to enthroned Bola as president and you will find that almost all are northerners while his kinsmen engage themselves social media activism and Northern bashing.
“When Yorubas vilify the North like this, our sense of fear and insecurity under a Yoruba presidency gets heightened and in the end, pushes us to rethink our support for not only Bola but any Yoruba as president for that matter.
“Please, do not join our opponents to destroy our chances of clinching Monday’s primary elections.”
The Federal Capital Territory High Court, Wuse, has remanded Peter Nwachukwu, husband of the late gospel singer, Osinachi, in the Kuje Correctional Facility pending the hearing and determination of the homicide related suit instituted against him by the Attorney General of the Federation.
Justice N.K. Nwosu-Iheme gave the order on Friday after he pleaded not guilty to 23 count charges bordering on domestic violence and homicide, among others.
She ordered that the suspect be remanded at the correctional facility while trial was adjourned to June 16 from 12pm and June 17 by 9am.
“The business for today is for arraignment, accelerated hearing is hereby ordered” declared Justice Nwosu-Iheme.
“Defendant should be remanded in Kuje Correctional Facility pending the hearing and determination of this suit,” she ruled.
Nwachukwu’s wife died on April 8 and many of her colleagues had accused her husband of subjecting the deceased to domestic violence, leading to her death.
Afterwards, the Nigeria Police arrested him and he has been in detention since.
FG claims that he contravened Sections 104 and 379 of the Administration of Criminal Justice Act, 2015, section 221 of the Penal Code and the Violence Against Person’s Prohibition Act (VAPP) 2015.
Some of the counts (like culpable homicide) recommends death penalty, 1-year jail term or fine (VAPP Act), among others.
Part of the charges read: “That you Peter Nwachukwu, 56, male, on the 8th of April, 2022 at Aco Estate, opposite police station, Lugbe, Abuja, FCT, within the jurisdiction of this honourable court, did commit an offence to with: culpable homicide punishable with death in that you caused the death of Mrs Osinachi Nwachukwu by your various acts of violence and aggravated assault with the knowledge that her death would be the probable consequence of your acts.”
“Statement of offence: Emotional, verbal and psychological abuse contrary to section 14(1) of the Violence Against Persons (Prohibition) Act, 2015 and punishable under the same section of the Act.
“Particular of offence: That you, Peter Nwachukwu, male, sometime between 14th November 2009 and April 2022 at Aco Estate, opposite police station, Lugbe, Abuja, FCT, within the jurisdiction of this honourable court, did commit an offence to wit: emotional, verbal and psychological abuse on Mrs Osinachi Nwachukwu (deceased) by humiliating her and making utterances like ‘you are smelling,’ ‘you are mad,’ to her in the presence of her music crew members.”
Wema Bank emerges most profitable in PAT growth in Q1 2022
The Nigerian banking sector recorded impressive growth in the first quarter of the year, recording a 23.24% year-on-year increase in real GDP. This is also evidenced by the performance of the twelve commercial banks listed on the Nigerian Exchange (NGX).
Wema Bank proved its mettle in the key metrics of total assets growth, customer deposit growth, profit after tax growth, loan book growth, return on average equity and cost to income ratio.
According to a special report on the financial performance of quoted Nigerian banks by Nairametrics, some banks have dominated the efficiency, deposit, and profitability metrics, especially newly re-engineered banks like Wema Bank and Unity Bank, among others. They are now two of the top five leading banks in the country.
According to data from Nairalytics – the research arm of Nairametrics, the twelve banks reviewed posted an aggregate profit after tax of N275.27 billion in Q1 2022, representing a 14.7% increase compared to N239.95 billion posted in the corresponding period of 2021.
The banks were able to record an improved bottom line despite the CBN monetary policy leaning towards a dovish direction, that is, keeping interest rates low. However, the apex bank in its latest MPC meeting has raised the benchmark interest rate from 11.5% to 13%, and banks could be seeing a rise in their interest earnings going forward.
For this analysis, the Q1 2022 results of the following banks were tracked: Access Holdings, FBN Holdings, FCMB, Fidelity Bank, Wema Bank GT Holding, Stanbic IBTC, Sterling Bank, Union Bank, UBA, Unity Bank, and Zenith Bank. Ecobank was not considered in the analysis as the bank operates efficiently in other markets besides Nigeria.
The key metrics considered in these analyses are total asset growth, loan book growth, profit growth, cost–to–income ratio, and return on average equity.
Leading Banks by Profits After Tax (PAT) growth
The twelve banks under our radar posted an aggregate profit after tax of N275.27 billion in Q1 2022, which is 14.7% higher than the N239.95 billion recorded in the previous year (Q1 2021).
First position – Wema Bank (+119%)
Second position – First Bank (+108%)
Third position – Sterling Bank (+47.9%)
Fourth position – FCMB (+44.6%)
Fifth Position – FBNH: (+33.9%)
Upshots: In terms of net profit, Zenith Bank recorded the highest profit after tax of N58.19 billion. In terms of growth, Wema Bank topped the list with a 119% growth in its bottom line while First Bank recorded a 107.7% growth.
Leading Banks by cost-to-income ratio performance
The cost-to-income ratio is a key financial metric, which shows a company’s costs as a proportion of its income. It helps to give investors a clear view of how efficiently a bank is being run. Specifically, it shows how much input the bank requires to generate N1 of output.
Notably, the lower this ratio, the more profitable, productive, and competitive the bank will be. Here are the banks with the lowest cost-to-income ratio:
First position – First Bank (-12.48%)
Second position – FCMB (-6.83%)
Third position – Wema Bank (-5.5%)
Fourth position – Stanbic IBTC (-5.4%)
Fifth Position – Sterling Bank (-2.1%)
Upshots: First Bank recorded the highest decline in its cost-to-income ratio in Q1 2022, dropping from 79.5% recorded in Q1 2021 to 67.03% in the review period. FCMB also saw a decline in its numbers to 72.69%. However, GT Bank currently has the lowest cost-to-income ratio of 42.42% in Q1 2022.
Leading Banks by Total Assets growth
The analysis of the combined assets of the 13 listed banks (Ecobank excluded) reveals that the total assets increased by 6.7% from N57.67 trillion recorded as of December 2021 to N61.54 trillion in the review period. The total asset of the listed banks amounts to over 85% of Nigeria’s annual real GDP (2021 estimate).
The increase in the total assets of the banks indicates a stronger financial position. All the banks under study recorded an improvement in their total asset base. Below are the leading banks by total assets growth between March 2022 and December 2021.
First position – Fidelity Bank (+22.9%)
Second position – Zenith Bank (+18.9%)
Third position – Stanbic IBTC (+13%)
Fourth position – Unity Bank (+9.7%)
Fifth Position – Wema Bank (+7.7%)
Upshots: Fidelity Bank tops the list of best performers in terms of asset growth in the first quarter of 2022 after its total assets increased by 22.9% from N2.89 trillion recorded as of December 2021 to N3.56 trillion by the end of March 2022.
Leading Banks by Customer Deposits growth
Customer deposits remain one of the most competitive items in the banking sector since it is from deposits that loans are issued out and other investments are made.
The total customer deposits stood at N40.34 trillion, as of the first quarter of the year, representing an 8.7% increase compared to N37.1 trillion recorded as of the previous quarter. The bank leading the charge in terms of value is Access Bank, which accounts for 18.5% of the total share, however, Zenith Bank tops in terms of growth.
First position – Zenith Bank (+27.8%)
Second position – Fidelity Bank (+18%)
Third position – Unity Bank (+17.4%)
Fourth position – Wema Bank (+8.8%)
Fifth Position – Access Bank (+7.8%)
Upshots: Zenith Bank recorded the highest growth in customer deposits, followed by Fidelity and Unity Bank with 18% and 17.4% increases respectively. Only Union Bank recorded a customer deposit decline in the first quarter of 2022.
Leading Banks by loan book growth
Bank loan is an important metric used in assessing the performance of banks. Notably, loans allow for growth in the overall money supply in an economy and open up competition by lending to new businesses.
The interest and fees from the loans form a major part of where banks generate their earnings. According to the analysis, loans to customers increased by 8.3% to N21.71 trillion in Q1 2022 from N20.05 trillion recorded as of December 2021.
First position – Fidelity Bank (+28%)
Second position – Zenith Bank (+25%)
Third position – Unit Bank (+11.9%)
Fourth position – UBA (+7.1%)
Fifth Position – Stanbic IBTC (+6.4%)
Upshots: Fidelity Bank led the list of banks with the highest loan book growth in the first quarter of 2022. Specifically, its customer loan increased by 28% to N1.83 trillion from N1.43 trillion recorded as of December 2021.
Leading Banks by Return on Equity (ROAE)
The return on equity is an important metric that shows the percentage of profit made on every N1 of the shareholders’ fund. It is used to measure the performance and efficiency of the banks.
This metric will show how well banks have maximized any increase in shareholders’ wealth.
First position – Access Bank (21.39%)
Second position – UBA (20.4%)
Third position – GT Bank (19.3%)
Fourth position – Zenith Bank (19.2%)
Fifth Position – Wema Bank (15.96%)
Upshots: The aggregate returns on equity for the twelve banks stood at 13.72% as of March 2022. Access Bank led the list with a return on average equity of 21.39% (annualized) in March 2022, closely followed by UBA (20.4%) and GT Bank (19.3%).
Final Scorecard
Taking the average of the performance of the banks across the six metrics under our radar, we see Zenith Bank on top of the rank, followed by Wema Bank, Stanbic IBTC, First Bank, and Fidelity Bank based on their Q1 2022 numbers.
Buratai To Speak At ABU Symposium On National Politics And Insecurity
Nigeria’s Ambassador to Benin Republic, Amb. Lt. Gen. Tukur Yusuf Buratai (Rtd), would deliver a lecture at the Ahmadu Bello University, Zaria, Kaduna on Saturday, June 11.
National Association of Online Security Reporters, NAOSRE reports that the lecture would take place at a day symposium on national security organised by the centre for research and historical documentation, Ahmadu Bello University with the theme: “Politics And Insecurity In Nigeria: Way Forward”.
Buratai, former Chief of Army Staff, would speak on issues bordering on Nigeria’s politics and insecurity. The discourse would proffer solutions to challenges bedeviling Nigeria at large, as well as empower students to generate ideas for equitable development in the political sector.
Expected guests are His Excellency Mallam Nasiru El Rufai, the executive governor of Kaduna stare, His Excellency Prof. Babagana Zulum, the executive governor of Borno state, His Eminence Alhaji Sa’ad Abubakar III, the Sultan of Sokoto and other notable Nigerians.
