By Joan Nwagwu

The Federal Government has assured workers that the transfer of the National Minimum Wage from the Executive to Concurrent list would not work.

The Minister of Labour and Employment, Dr Chris Ngige, gave the hint at the 2021 May Day celebration, on Saturday in Abuja.

The theme of the May Day celebration is: COVID-19, Social and Economic Crises; Challenges for Decent Work, Social Protection and Peoples Welfare.

Ngige said that the new minimum wage was a national law, which would not be manipulated by anyone.

A tripartite clause arrangement which coordinated the government enacting the national minimum wage on April 18, 2019, and the President in signing the law, made it clear that the law takes effect on that day.

That law is a national law, it is not that which you can choose for anybody that falls within the ambit of that law. It is not a question of pick and choose.

We moved the national minimum wage from 18,000 per month to 30,000; it is an irreducible clause and we need a social protection mechanism.

We therefore expect the states and people in the private sector to comply. Amendment of trying to expand that law or trying to bring the law into the concurrent list of the institution will not work, he said.

Mr Ayuba Wabba, the President, Nigeria Labour Congress (NLC), had eariler said that any attempt to remove the national minimum wage from the Exclusive Legislative List to the Concurrent List was a mischievous effort to foster crisis, chaos and anarchy in the country.

Wabba said that the national minimum wage served as social protection by providing a mimimum income floors to safeguard low earners.

Our argument for the retention of the national minimum wage on the exclusive legislative list is to also propel the fact that the minimum wage is a tool for social inclusion and proverty reduction,

For Nigerian workers, it has been a catalogue of workplace and trade union rights violations.

First is the criminal refusal by some state governors to pay the new national minimum wage and consequential increase in salaries, thus violating workers rights.

We have already directed all our state councils to down tool if any governor remains adamant about paying the new national minimum wage, he said.

The NLC president noted that the theme for this years celebration was apt, as Nigeria failed to protect its citizenry especially workers, from the daunting challenges occasioned by the Coronavirus pandemic.

He noted that a recent research by Nigerian scholars said that the COVID-19 inspired lockdown threw an estimated 27 million Nigerians into poverty, ballooning the community of the working poor in Nigeria.

According to him, this revealed that workers are the major targets of the growing insecurity across the country.

The NLC boss further stated that in spite of efforts by government and private sector employers, millions of Nigerian workers had lost their means of livelihood and slipped into destitution, lack and misery.

Wabba added that the weakness of the social protection system further aggravated the pain and frustration of workers.

He noted that the recent unemployment statistics of 33.3 per cent as released by the Nigeria Bureau of Statistics (NBS), occasioned by the pandemic and arbitrary sack of workers by some state governors, had further driven the spate of insecurity being witnessed.

Human insecurity as marked by mass unemployment is the main driver for the physical insecurity besieging our dear country.

Part of the challenge of unemployment and insecurity is the crisis of poor governance. Weak budgets that led to poor appropriations and poorer budgetary oversight is the bane of our development.

It is unfortunate and a terrible injustice to the memory of Nigerias founding fathers, that virtually every part of the country has been engulfed by one form of security challenge or the other, he said.

Wabba, while however commending the efforts of the nations security apparatus, called for increased efforts and routing of security votes, through the normal budgetary process for proper oversight and accountability.

On casualisation of workers, he urged government and private employers of labour to end the slavery of workers by consolidating the milestones already gained in the current labour law review.

Wabba also said that Nigerian workers reject any further hike in electricity tariff, while calling for adjustments to the gas price for the power sector, suspension of gas price increases, for the next three years in order to support electricity tariff stability.

It is clear that the factors fuelling incessant hike in electricity tariff such as the dollarisation of gas used by GENCOs to run our power stations are issues that government can control.

As we speak, the promise by government to force DISCOs to mass deploy meters has been poorly pursued as pre-paid meters are still hoarded by DISCOs and sold at high price to frustrated consumers.

It is on this premise that we say no to further increases in electricity tariff, he said.

He also raised concerns over Nigerias high debt profile, saying that the bulk of the adverse implications of the unreasonable risks usually affects common Nigerians and workers the most.

Source: NAN News

By Ugonne Uzoma

Gov. Hope Uzodimma of Imo has commended workers in the state for their understanding and patience in the face of security and other challenges.

Uzodimma gave the commendation during a live broadcast on the occassion of the Workers Day in Owerri on Saturday.

On this auspicious occasion of May Day celebration I salute workers all over the country, particularly Imo workers, for their understanding in the face of the Coronavirus which threatened the welfare of workers.

I say thank you for your patience, your cooperation and patriotism in the face of the numerous challenges that assailed us on assumption of office, he said.

The governor, however, noted that his administration had succeeded in improving the welfare of the workers by providing a conducive working environment and lifting their transportion burden.

He said that the government had successfully digitalised the fiscal operations in the state, effectively reducing corruption in the public sector.

According to him, the payroll system had become automated, resulting in the prompt payment of workers and pensioners.

Uzodimma, however, said that all issues of unpaid employees would be resolved soon while assuring them of the immediate payment of their arrears immediately after.

He thanked the labour unions for their understanding during the automation process and the workers for their solidarity and maturity.

As we celebrate this years May day, I want to assure the workers of Imo that your welfare will always remain my number one priority.

Fortunately for us, during the trying times of the automation process, the organised labour stood firmly behind us. This is the time to appreciate you the workers for your solidarity and maturity. Thank you very much indeed.

I assure you of my commitment to whatever is necessary to make the organised labour leadership more effective and efficient.

In this respect, all outstanding check-off dues for the different unions will be cleared in the next few weeks.

In like manner, I will not relent in ensuring that Imo workers get the best available training and retraining opportunities and the best working condition, he said.

Uzodimma said that the digitalisation of the fiscal operations of the state had greatly reduced corruption in the public sector adding that behind the revolutionary automation exercise was a data centre that was ranked the best in the country.

The governor noted that after addressing the payroll system, he has stated tackling the issue of welfare of workers.

He said that apart from ensuring that he secured a conducive working environment for them through rehabilitation of the state secretariat and provision of critical infrastructure, he had ensured that official vehicles were provided for Permanent Secretaries to ease their transportation problems.

I followed it up by providing free buses for junior civil servants. These have been running religiously, he said.

The governor said that his administration had been responsive to the yearnings of the people by resuscitating critical infrastructure including roads.

He added that not less than 30,000 youths have been trained in various skills and would soon be given resources to start up businesses.

I am not a man who makes excuses, I have come to work for the people, no matter the circumstances and no amount of distraction can derail me from my mission.

All I ask is for an enabling environment of peace so that Imo people can get the very best we can offer.

For us to see those better days, we must refrain from acts that would impede development and progress.

Let us say no to banditry and anarchy. Both are ill winds that blow no one any good, he said. (NAN)

Source: NAN News

By Joan Nwagwu

The Federal Government says it will expand the N-Power programme from the present 500,000 beneficiaries to one million.

President Muhammadu Buhari said this in a message to commemorate the 2021 Workers Day celebration on Saturday in Abuja.

The News Agency of Nigeria (NAN) reports that the 2021 Workers Day theme is COVID-19, Social and Economic Crises: Challenges for Decent Work, Social Protection and Peoples Welfare.

Buhari said that the expansion of the N-Power programme would ensure job creation and poverty alleviation through programme such as Safety Net Programmes to cushion the effects of the COVID-19 pandemic.

We also have put in place some socio-economic policies, which also include Conditional Cash Transfer for the vulnerable poor from 2.6 million households (13 million persons) to 7.6 million households (about 32 million persons).

COVID-19 Rapid Response Register (RRR) for urban Poor, which now has 4.8 million households (20 million persons) which also include urban poor/working class.

Also, through the Federal Ministry of Industry, Trade and Investment, there is the Entrepreneur Support Programme and, this even includes the vulnerable workers amongst the urban poor.

We also have the Artisan Support Fund, Payroll Support Fund for small scale businesses, Business Formalisation aimed at encouraging micro, small and medium enterprises by offering free registration for upcoming businesses by the Corporate Affairs Commission.

There is also Guaranteed Off-take Stimulus Scheme for Small Medium Enterprises for producers of hygienic products and packaged food to encourage entrepreneurship and industries, he said.

He, however, added that the National Youth Investment Fund (NYIF) for young entrepreneurs had N75 billion for three years, all aimed at support for the labour force.

He also noted that in securing decent jobs, government was inadvertently promoting social protection and peoples welfare.

We also know that social protection gives you peace of mind and hope for a better future.

It also ensures access to health care and income security for all and provides for you and your family when sick, unemployed, injured, pregnant or too old to work, he said.

He noted that a happy workforce could be created by employers incorporating the decent work agenda in job creation and retention in their workplace guiding policies.

As we all know, decent work sums up the aspirations of people in their working lives.

It involves opportunities for work that is productive and delivers a fair income, security in the workplace and social protection for families, better prospects for personal development and social integration.

It also ensure freedom for people to express their concerns, organise and participate in the decisions that affect their lives and equality of opportunity and treatment for all women and men, he said.

He noted that decent jobs in our workplaces in a nutshell, therefore, reflect all the goodness in labour administration.

Buhari, therefore, said fair labour practices must be the norm in the world of work.

So, the theme for the May Day celebration is relevant and also reflects practical and contemporary issues of our society and not just in Nigeria but globally, he said.

Source: NAN News

By Ifeanyi Nwoko

Prof. Lilian Orogbu, a Professor of Strategic Human Resource Management, has emerged Dean, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka, Anambra State.

The Astute Administrator emerged Dean through a keenly contested election, her Media Assistant, David Abakpa said in a statement, on Saturday.

According to Abakpa, the new dean has served the University in many capacities, including as Head, Department of Business Administration.

As an erudite Scholar, she has successfully supervised 19 Post Graduate students, including four PhDs, and has occupied the Editorial Position of several Journals, including Journal of Business and Finance Management Research and Journal of Social Development.

She rose meritoriously through the ranks as a trainer of Business Administrators to become a Professor of Business Administration at the prestigious Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.

Prof. Orogbu is not just a University Lecturer, she is also into Business Consultancy and Brand Management.

She has consulted for NAPIMS, a subsidiary of NNPC; Catholic Clergy, Anglican Clergy, Stanel Group, amongst many other Organisations.

Prof. Orogbu is a member, Nigerian Institute of Management and a member, Academy of Management Nigeria. (NAN)

Source: NAN News

By George Odok
The National Emergency Management Agency (NEMA) has inspected buildings and installations destroyed by the April 22 windstorm in the University of Calabar.

Vice Chancellor of the University, Prof. Florence Obi, conducted the NEMA team round the affected buildings on campus on Saturday in Calabar.

The affected buildings include; the Medical College, Post Graduate School, Faculty of Education, Printing Press, Senate Chambers, open pavilion and Department of Medical Laboratory.

Others are the Sen. Godswill Akpabio Engineering Lecture Theatre, telecommunication mast, the Isolation Centre, electrical and solar installations, the Vice Chancellors office, the male and females hostels among others.

Speaking after the tour, the South South Zonal Coordinator of NEMA, Mr Godwin Tepikor, sympathised with the University over the unfortunate incident.

We are here at the instance of the Cross River State Emergency Management Agency office that informed us about the disaster in UNICAL.

Our responsibility is to do an assessment; we have gone round the University and we have seen the level of damage in the University.

We are going to compile our report and send to our headquarters in Abuja. We should be hopeful that something will be done about this assessment we just did, he said.

Earlier, the VC told the NEMA team that the Printing Press was badly affected by the windstorm.

She lamented that the University had equipped the Printing Press with modern facilities worth millions of Naira with a view to operate as a commercial centre before the destruction.

The equipment were all destroyed including printed materials. This has affected us greatly as a University.

Because of the urgency to protect the equipment in the Printing Press, we had to start some remedial work because Calabar is in a rain zone and we dont want to take more chances for our equipment to be further destroyed.

I am happy that NEMA has responded by coming for an on the spot assessment of the facilities that were destroyed.

Again, I want to appeal to the Ministry of Niger Delta, Niger Delta Development Commission, Presidential Committee on Disaster Management, Ministry of Education, Tertiary Education Trust Fund, Alumni and others to come to our aid.

The destruction was so huge that we really need relevant government agencies, corporate organisations and well meaning Nigerians to come and support us, she said.

The VC lamented that the Universitys Isolation Centre that was newly inaugurated was badly affected and all the beds and equipment destroyed. (NAN)

Source: NAN News

An analysis by Chinyere Joel-Nwokeoma, News Agency of Nigeria (NAN)

The year 2020 will remain indelible in the annals of history due to the impact of the COVID-19 pandemic on the world.

The pandemic brought the world into exceptionally difficult and largely uncharted waters.

In no time, the whole world came to a standstill with lockdowns, global recession, financial crises, reduced consumer confidence and consumption as key concerns occasioned by COVID-19.

It was, indeed, a year during which individuals, corporate organisations, economies and businesses were forced to think outside the box to ensure sustainability.

To tackle the impact of the pandemic, various governments introduced several policies; Nigeria, and its key organisations, were not left out.

Consequently, the Central Bank of Nigeria (CBN) reduced interest rates on all applicable CBN interventions, from nine to five per cent and introduced a one-year moratorium.

It also created a N50 billion targeted credit facility, and liquidity injection of N3.6 trillion (stimulus package in the form of loans) into the banking system.

Others were: N100 billion to support the health sector, two trillion naira to the manufacturing sector, N1.5 trillion to impacted industries in the real sector and regulatory forbearance to restructure loans in impacted sectors, among others.

In spite of the ravaging effects of the COVID-19 lockdowns and various policy tweaks by the CBN on the economy, most banks in Nigeria weathered the storm by posting stronger profits in 2020 compared with 2019 as shown by earnings released by the Nigerian Exchange (NGX) Ltd.

This indicates that despite the lockdown there was an increase in banking activities as loans and advances and customer deposits rose.

According to experts, this shows that Nigeria has a peculiar and distinct domestic economy unlike other economies where banks recorded a significant decline in profit in 2020.

Indeed, profits of some banks listed on the NGX showed increase in gross earnings as well as profit after tax.

Specifically, Access Bank reported gross earnings of N764.72 billion in 2020 compared with N666.75 billion in the comparative period of 2019.

The banks profit before tax stood at N125.92 billion in 2020, from N111.93 billion in 2019, while its profit after tax closed higher at N106.01 billion against N94.06 billion in 2019.

FBN Holdings also had a good outing during the lockdown, declaring profit before tax of N83.70 billion from N75.29 billion in 2019, while profit after tax rose to N89.75 billion against N73.67 billion in the comparative period of 2019.

The bank, however, recorded gross earnings of N579.42 billion in 2020 compared with N590.39 billion in 2019.

Further analysis of audited results released by the NGX indicated that Guaranty Trust Bank posted gross earnings of N455.23 billion in 2020 from N435.31 billion in 2019.

Its profit before tax rallied to N238.09 billion compared with N231.71 billion recorded in 2019.

Similarly, profit after tax rose to N201.44 billion against N96.85 billion reported in 2019.

An analysis of the performance of the United Bank for Africa(UBA) showed gross earnings of N620.38 billion from N559.81 billion declared in 2019.

The profit before tax of the bank grew to N131.86 billion in contrast with N111.29 billion posted in 2019.

The banks profit after tax in the review period closed upbeat at N113.77 billion compared with N89.09 billion in 2019.

Zenith Bank was not left of the banks that recorded jumbo profits in 2020 as it posted profit before tax of N255.86 billion against N243.29 billion declared in 2019, while its profit after tax closed higher at N230.57 billion from N208.84 billion in 2019.

The bank also recorded gross earnings of N696.45 billion in 2020 in contrast with N662.25 billion achieved in 2019.

2020 was also rosy for Union Bank of Nigeria, posting profit before tax rose of N25.4 billion from N24.7 billion in 2019, while its profit after tax closed at N24.7 billion against N24.4 billion in 2019.

However, the banks gross earnings slightly reduced to N156.9 billion in 2020 as against N159.9 billion in 2019.

Stanbic IBTC recorded gross earnings of N234.45 billion against N233.81 billion in 2019.

It also reported profit before tax of N94.71 billion in contrast with N90.93 billion in 2019, while profit after tax stood at N83.21 billion from N75.09 billion in the comparative period.

The question agitating the minds of Nigerians is; what magic did the banks do to churn out such fantastic profits during the lockdowns?

Mrs Nneka Onyeali-Ikpe, Managing Director, Fidelity Bank Plc, acknowledged that the 2020 financial year was challenging due to the collapse of oil prices and issues around the COVID-19 pandemic.

She said the banking industry, through resilience, surmounted the challenges by churning out profits, and that the apex bank also gave banks a leeway by insisting that all corporates were given palliatives and forbearances during the period.

In Fidelity Bank especially, we made sure that we supported our SMEs, which is our strength, we made sure they observed the protocols, we made sure our branches observed the protocols because if customers go down, we will go down, Onyeali-Ikpe said.

Speaking on 2021 expectations, she said the business is looking up very well, we expect a much better 2021, and the numbers are even showing that.

Our first quarter numbers are very strong and as you can see, we achieved 53.9 per cent above our profit before tax, quarter-on-quarter last year and this is a very strong sign and we are definite that 2021 would be much better than 2020, she added.

Mr. UK Eke, the Group Managing Director, FBNH, said the company was pleased to close the year 2020 in a healthy financial position in spite of the difficult operating environment.

He said the company engaged a portfolio optimisation strategy, deepened its foothold in the banking sector through increased investment in digitalisation, innovation, and expansion in financial services forthe benefit of existing and new customers.

Five years ago, we outlined our strategy to diversify our income stream by boosting non-interest income through a transaction-led banking model.

We believe this decision reduced the burden on our customers during the lockdown by providing seamless access to banking service, as well as, support the effort of the Government and other donor agencies to reach Nigerians with the COVID-19 support programmes, Eke said.

To Mr Kennedy Uzoka, the Group Managing Director/Chief Executive Officer, UBA, the year 2020 was important for the UBA Group, as it gained further market share in most of its countries of operation.

He said: We ended a very challenging year on a reassuring note. The Bank recorded double-digit growth in both our top and bottom lines, as gross earnings and after-tax profit grew by 10.8 per cent and 27.7 per cent to N620.4 billion and N113.8 billon respectively.

According to him, despite the tumultuous impact of the COVID-19 pandemic globally and across the 23 countries where the bank operates,UBAcreated N519.0 billion additional loans as itcontinued to supportitscustomers andtheirbusinesses.

Customer deposits grew 48.1 per centto N5.7 trillion, driven primarily by additional N1.8 trillion in retail deposits. As a global bank, we remain well capitalised and determined to successfully drive financial inclusion on the continent through our innovative products and vast network.

Our capital adequacy and liquidity ratios came in at 22.4 per cent and 44.3 per cent, well above the respective regulatory minimum of 15.0 per cent and 30 per cent, Uzoka added.

Financial analysts are also not surprised that the banks defied the lockdown by posting good profits in 2020.

The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, said Nigerian banks and other corporates performed very well in 2020 in spite of the outbreak of coronavirus that drove the global and domestic economy into recession with oil prices hitting the lowest at 12 dollars before rebounding.

Nigeria banks were resilient in 2020 in the midst of pandemic as their performance and profitability ratios were up irrespective of headwinds, low interest regime and others.

The electronic or e-commerce platforms of the banks through technology supported them during the lockdown and after, government and CBN interventions in critical sectors of the economy helped the banks to stay afloat and remain in profit, Omordion said.

Omordions views align with those of Mr Moses Igbrude, former Publicity Secretary, Independent Shareholders Association of Nigeria, who attributed the performance of banks to enhanced technology due to the COVID-19 pandemic.

The banking sector of the capital market is a sector that gladdened the hearts of shareholders so far in this year, despite the challenges of the COVID-19 pandemic.

All banks came out strong and better rewarding shareholders with good dividends and the performance was as a result of technology deployment during and after lockdown, Igbrude said.

He urged banks to sustain the trend through efficient management of resources, innovation, loans management, cost management and adherence to regulatory rules and regulations.

With the fantastic profits posted by many Nigerian banks in 2020, there is no doubt that better days are ahead, and experts agree that, even in 2021, and post COVID-19 era, the profits will soar higher. (NAN)

Source: NAN News

By Itohan Abara-Laserian

Access Bank Plc has assured shareholders of sustained dividend payout and improved performance in the years ahead.

Mr Herbert Wigwe, Chief Executive Officer of the bank, gave the assurance while addressing shareholders at the 2020 Annual General Meeting (AGM), on Friday, in Lagos.

Wigwe said that the bank was well positioned to achieve significant growth in profitability and pay higher dividend given its position in the banking industry today.

He said that Access Bank had a healthy capital adequacy ratio, a robust balance sheet and strong brand that would lead to a better performance in the years ahead.

Wigwe noted that the bank recorded a profit after tax of N106 billion in 2020, an increase of 13 per cent from N94 billion achieved in the corresponding period of 2019.

According to him, the bank recommended a final dividend of 55k per share for the year ended Dec. 31, 2020, bringing the total dividend to 80k having paid an interim dividend of 25k earlier.

Wigwe said shareholders should expect better dividend that would be sustained given the various strategies put in place to grow the business.

According to him, Access Bank is best positioned to maximise the identified opportunities in Africa on the back of a growing customer base and the move to a cashless economy.

We have identified Africa to be a vast pool of opportunities with over 370 million unbanked adults.

With .2 billion in remittances and cross border payments, 89 cities of over 1.3 billion inhabitants by 2025 and the overall African financial ecosystem.

We also see opportunities coming from the new African Continental Free Trade Area, as it is expected to expand intra-Africa trade to 53 per cent by 2022.

Also eliminate tariff on qualifying trade and increase financial flows, he said.

Wigwe said that on the domestic front, Nigeria presents several opportunities due to its large population, huge payments and remittance flows, and emerging insurance market.

To capture these opportunities, Access Bank will transition into a holding company structure.

The structure will enable it tap into the market opportunities that are available in the regulated banking and consumer lending market, electronic payments industry and retail insurance market.

Through the restructuring, we will create new product revenues without taking incremental risks for the enterprise, ensure diversification of earnings, and support outside of Africa, he said.

He added they had commenced green field operations in Mozambique and completed acquisition of Transnational Bank and Cavmont Bank in Kenya and Zambia, respectively to strengthen and increase their market presence.

Early 2021, we received regulatory approval for our proposed acquisition of Grobank in South Africa to give us inroad into largest economic block in Africa and one of Africas biggest markets.

Our acquisition of Grobank will help strengthen our foothold in Southern African market, Africas largest economic hub and place us in a strong position to take advantage of Africa, Wigwe said.

In her address, Chairman of the bank, Dr Ajoritsedere Awosika, said in 2020, the bank made several investments to strengthen relationships with its customers.

By redefining our approach to customer service through streamlining our internal processes, and digitising about 30 per cent of customer journeys, we were able to improve on our customer experience.

Also, we were able to manage our expenses in line with the target for 2020 despite double digit inflation and overall cost of running the enlarged enterprise.

As a result, we achieved a Cost-to-Income Ratio of 63.4 per cent from 66.1 per cent in 2019.

We worked hard to recover and dispose of a significant portion of our non-performing assets.

With a decline in the portfolio of overdue loans, our asset quality improved across our retail and wholesale segments.

Our capital and liquidity ratios were also well above regulatory limits with our capital adequacy ratio remaining strong at 20.6 per cent, Awosika said.

Shareholders at the AGM commended the board and management for efficient service delivery.

Mr Eric Akinduro of Ibadan Zone Shareholders Association, commended the bank for sailing through the COVID-19 pandemic by ensuring improved results that led to the declaration of 80k dividend.

Akinduro said the various acquisitions by Access Bank across Africa, showed that the institution was very strong and assured of shareholders continuous support.

Mr Sunny Nwosu of Independent Shareholders Association of Nigeria said given the expansion drive, the bank was really aiming to play a leading role on the African continent.

According to him, it is a good development that will lead to better returns for shareholders and other stakeholders going forward. (NAN)

Source: NAN News

By Itohan Abara-Laserian

Unity Bank Plc has sustained its growth momentum as it recorded 43 per cent in both profit before and after taxes in the first quarter ended March 31.

Managing Director/Chief Executive Officer of the Bank, Mrs Tomi Somefun, disclosed in the Banks unaudited Q1-2021 results submitted to the Nigerian Exchange (NGX) Ltd., on Friday, in Lagos.

Somefun said that the retail lenders profit before tax grew by 43 per cent to N784.3 million from N550.1 million recorded in the corresponding period of 2020.

She said that the profit after tax for the period, which also grew by 43 per cent, stood at N721.5 million compared to the N506.1 million recorded in the same period of 2020.

The Bank Chief added that as an outcome of increased focus on supporting local enterprises and industry, the asset portfolio also showed a significant growth in loan book of 76 per cent as net loans and advances to customers increased to N223.2 billion up from N126.6 billion recorded in the corresponding period.

The total assets of the Bank for the period showed an appreciable growth of 42 per cent to close at N521.5 billion from N366.8 billion in the corresponding period of 2020.

The balance sheet of the bank had been considerably de-risked with a Non-performing Loan (NPL) ratio of near zero per cent which it had consistently maintained over time, earned in ranks as one of the best in risk management and credit creation culture.

The Bank recorded gross earnings of N11.5 billion, representing marginal decline of 3 per cent when compared to N11.9 billion posted in the corresponding period of 2020.

The remarkable positive growth in profit and other strong indicators recorded in Q1-2021 is a sign of the Banks growing resilience as the economy continues on a recovery path following the impacts of COVID-19 pandemic, she said.

Also, other key highlights of the Q1 results included the cash and balances with the CBN which recorded a whopping 326 per cent leap to close at N111.2 billion from N26.1 billion in the corresponding period of 2020.

According to her, the lender also grew its customer deposits by 13 per cent to N348.3 billion up from N308.8 billion recorded in the period under review a strong indication of the growing popularity and acceptance of the Banks array of innovative products, services and new technologies deployed in its operations to enhance high level of customers experience and service delivery.

Interest and similar income also recorded a marginal increase of 1 per cent to N9.7 billion compared to N9.6 billion posted in the corresponding quarter of 2020. However, net interest income recorded a 16 per cent increase to N4.8 billion from N4.1 billion in the corresponding period of 2020.

Also reported was the total operating income which rose by 3 per cent to N6.6 billion from N6.4 billion, even as the net operating income rose by 12 per cent to close at N6.7 billion from N5.9 billion in the corresponding period of 2020.

Somefun said: The first quarter result is a promising indication of better outcome for the year, profoundly reflecting the Banks renewed focus on driving efficiency and productivity.

Anchored on targeted initiatives to grow both volume and quality of assets and offer a wide range of customer-centric products supported by novel technologies to its teeming and growing customers in all the six-geopolitical zones in Nigeria.

The top-line performance was driven by improvement in net interest income margins which reported 16 per cent growth.

The Bank is replicating the same momentum in the area of liability generation and to gain traction and we are targeting opportunities across regions and identified segments in retail and SMEs whilst optimising our technology and digital platforms.

Such as Omni-channel UniFi, USSD *7799# to deliver bundled product bouquet, operational efficiency and improved unparalleled customer service delivery. Like the multi-language service channels, customers are to expect more innovations as the year unfolds.

The Bank will consolidate on the gains it has made on its assets growth and further build the franchise of the brand in many areas of the business to shake off any lethargy to galvanize efficiency across its earning assets, thereby diversifying its earnings base to further grow the bottom-line, she added.

Somefun also explained that: The Bank will continue to play formidably and efficiently in the area of its strength, especially in the niche space of agribusiness, to get more involved in the value chain banking having firmly established its strong foothold in the financing of primary crop production.

Such as rice, maize, cotton, wheat, sorghum, etc. coupled with their rich and robust structures in value creation.

She added We hope to continue to expand on this as we play our part in driving the nationss quest for self-sufficiency in food production, employment generation, foreign exchange conservation and all allied advantages that come with agribusiness. (NAN)

Source: NAN News

By Maureen Okon

The Directorate of Technical Aid Corps (DTAC), says the government of Uganda has officially received the Nigerian delegation of Technical Aid Volunteers (TAV), in a grand ceremony.

Mr. Mohammed Shehu, Special Assistant to the Director-General (D-G), of DTAC, Dr. Pius Olasunkanmi, told the News Agency of Nigeria (NAN), on Saturday, in Abuja, that the government and people of Uganda were overjoyed to receive the volunteers.

Shehu stated that the Nigerian Mission in Uganda had intimated the corps that there was display of emotions at the welcoming ceremony, held on Thursday, at the Nigerian Embassy in Uganda.

He said the delegates who departed Nigeria on Wednesday, were treated to the best of Ugandan hospitality and reception, all the way from the Ugandan Airport to the Embassy.

According to him, the TAV are part of 33 lecturers shortlisted following their application to work as technical aids.

The lecturers are from various universities in Nigeria on a mission to strengthen the Ugandan education system, and also to boost Nigerias diplomatic relations with her African neighbours.

The TAV are expected to provide expertise which will boost the East African Countrys educational sector during the two-year duration of their foreign expedition in Uganda.

The Ugandan government appreciates and values this gesture of brotherhood and camaraderie by Nigeria, Shehu said.

This is indeed a show of love by Nigeria as a big brother to other African countries, and a proof of the oneness which runs in our veins as Africans, he said.

Shehu applauded the Ugandan government for the warm reception and passionate welcome accorded the Nigerians.

He pointed out that the action underscored the efficacy of Nigerias foreign policy, especially in the area of diplomatic relations.

He therefore, said this would strengthen Nigerias continental leadership position, an essential condition for socio-economic development and relevance in the global scheme of things. (NAN)

Source: NAN News

By Ifeanyi Nwoko

A Non-Governmental Organisation (NGO), Equal Access International says its Civil Education Ration programme has reached 17 million people in its target 19 Northern States.

The group disclosed this on Friday in Abuja at its Stakeholders Consultation and Validation Forum held with both local, national and international partners in attendance.

Its Deputy Country Director, Gad Peter, in a statement, said the engagement was to initiate conversations that would bring about the sustainability of the programme.

According to him, the programme Farar Tattabara (White Dove), has been so impactful and has brought about a lot of positive changes in the 19 Northern States where it airs.

The statement quoted the Country Director, Mr Maji Peters, as saying: What we are doing here is to present the outcome harvest of our flagship programmes in the Hausa language, Farar Tattabara which is the white dove.

We did series of programmes and media outreach that covered the 19 Northern States; working with 22 Radio stations and a TV.

We have reached out to over 17 million listeners and viewers, he said.

The director pointed out that the purpose of the forum was to have evidence base impact assessment and also getting people on the field to give an account of the outcomes of their programmes.

Giving insights into some of the success stories, he said that through its programme, the group was able to save children in Borno from getting knocked down by vehicles.

He explained that the attention of the government was drawn to the spot and a pedestrian bridge was constructed which helped stop the incidents.

He said that a similar success story was recorded in a school, where many of the teachers were convinced to go back to school.

EAI-Nigeria at the moment focuses on youth and women participation and engagement in peace and social change, peace and security, enhancing community resilience and good governance.

EAI has demonstrated the ability to guide communities at greatest risk of communal and political violence toward sustainable solutions that engage the most vulnerable populations in a stakeholder-driven process of community development, he said. (NAN)

Source: NAN News

By Ismail Abdulaziz
Gov. Abubakar Bello of Niger has expressed the commitment of his administration to reposition the state civil service for better performance as he felicitates with workers and the organized labour on the International Labour Day.

In a statement by Mary Noel-Berje, his Chief Press Secretary, Bello acknowledged the significant role of workers in nation building, adding that it remained a significant to the success of his administration.

He described the Civil Servants as pivotal to the success of Policy implementation of any
administration, adding that when the civil service is properly positioned, every aspect of government runs smoothly.

Every government, he maintained, needs a vibrant workforce, and therefore priority attention must be accorded to the critical role civil service plays in good governance, stressing that civil service has the onerous duty to execute government policies and programmes.

According to him, the impact of governments policies and programmes on the citizens is determined by whether they have been implemented excellently through an efficient and effective civil service.

He stressed the need for government to identify the weaknesses of the service, streamline past efforts to revamp it, and apply vigorous measures to make it a truly enduring and supportive institution.

Bello also reminded the workers that professionalism and adherence to the ethics of the civil service should be their watchword as no Nation can attain greatness without a vibrant and dedicated civil service.

The Governor therefore urged workers in the state to remain focus, dedicated, and committed in the discharge of their duties, adding that the state government would continue to improve worker welfare so as to provide a conducive working environment.

He said it was part of the reasons why government decided to embark on the renovation of the Abdulkareem Lafene Secretariat and other Ministries, Agencies Parastatals.

The governor commended both the public and private workers for their resilience even at these hard times of financial difficulties and security challenges.

While congratulating the workforce, Bello appealed to them to continue to show understanding with the current trend and ensure that they do away with bad eggs among them.(NAN)

Source: NAN News

By Imelda Osayande

Oba of Benin, Oba Ewuare II, has announced the date for the outdoor celebration of Ugie Odudua ceremony.

This is contained in a statement, signed by Mr Frank Irabor, Secretary, Benin Traditional Council (BTC), and made available to the News Agency of Nigeria (NAN) in Benin on Friday.

Irabor said the ceremony will begin on Tuesday and last seven days at the Oba palace ground in Benin.

NAN reports that Odudua rite is a ceremony used to commemorate the return of Oranmiyan, the son of Odudua, to his biological land of Benin.

The spiritual ceremony is also used to thank God, and ancestors as well for the spirits of the land for the Obas successful ascension to the throne of his forebears.

Source: NAN News

By Abiodun Lawal

Two motorcyclists were on Friday night crushed to death in an accident involving two motorcycles and a Leyland truck opposite Forte Oil filling station around Kotopo on the Abeokuta-lbadan road.

Mr Babatunde Akinbiyi, the Spokesperson, Traffic Compliance and Enforcement Corps (TRACE), confirmed the incident to the News Agency of Nigeria (NAN) on Saturday in Abeokuta.

Akinbiyi explained that the accident occurred at 8.25 pm Friday, alleging that it was caused by reckless driving and impatience on the part of the motorcycle riders.

He said that the motorcyclists rammed into the truck coming from the opposite direction.

The TRACE spokesman stated that the accident involved two Bajaj motorcycles, one with the registration number SGM 006 VG, and the other with no registration number. and a Leyland truck, marked AAB 969 XV.

The two motorcycles and the truck have been taken to Aregbe police station in Abeokuta, he said.

He added that one of the deceased was taken away by his relatives while the body of the second person was deposited at the morgue of the Federal Medical Centre, Idi Aba, in Abeokuta after being confirmed dead by a medical doctor at the hospital. (NAN)

Source: NAN News

By Joshua Oladipo

The Federal Road Safety Corps (FRSC), in Osun, says eight persons have lost their lives following an accident that occurred on Gbongan-Osogbo expressway.

The Sector Commander, Mrs Kudirat Ibrahim, made this known in a statement issued by Mrs Agnes Ogungbemi, the commands spokesperson, in Osogbo.

The News Agency of Nigeria (NAN) reports the accident occurred at 1:20 a.m., on Saturday, opposite Ataoja Overhead bridge, along Abere, Osogbo-Gbongan expressway.

Ibrahim said said 36 0thers had sustained various degrees of injuries in the lone accident, in which 61 persons were involved.

An articulated vehicle, a blue truck Volvo with number plate KMC 35 ZJ, loaded with Palm oil, lost control on the Ataoja-overhead bridge.

The vehicle, which was heavily loaded with Jerry cans of palm oil and over 60 passengers, was trying to ascend the ramp.

The vehicle lost control, rolled backwards and fell by the side into the drainage, throwing off the jerry cans on passengers and killing some in the process, she said.

She said the injured had been taken to Ladoke Akintola University Teaching (LAUTECH), and Asubiaro Hospitals, both in Osun.

The Sector Commander appealed to motorists, especially carriage and articulated vehicles, to always follow road safety regulations.

Ibrahim urged road users to avoid flouting safety rules that often endangered their lives and those of other innocent citizens.

She, however, said the command had in a swift response, also deposited the corpses in a morgue and cleared the highway to avoid gridlock. (NAN)

Source: NAN News

By Victor Okoye

Enyimba International Football Club of Aba will face Egyptian clubside Pyramids FC in the quarter-finals of the ongoing 2020/2021 CAF Confederation Cup.

The News Agency of Nigeria (NAN) reports that the draw for the competitions quarter-finals was conducted on Friday in Cairo, Egypt.

Enyimba will travel away for the first leg, which is scheduled for May 16, while the reverse fixture will take place a week later in Aba.

The two-time African champions finished top of Group A, following a nervy 1-0 win against South Africas Orlando Pirates on Wednesday.

Should they progress into the last-four, they will face either Raja Casablanca of Morocco or Orlando Pirates.

The Aba giants are looking to make history as the first Nigerian club to win the CAF Confederation Cup.

Source: NAN News

By Nicholas Obisike

The Enugu State Government on Friday celebrated Rangers International FC and its teeming supporters over the clubs great exploits since it was founded in 1970.

The ceremony was combined with the launch of a book, entitled The New Dawn, in Enugu.

The News Agency of Nigeria (NAN) reports that the book was written by the clubs supporter, Mr Basil Ojengwa.

Speaking at the event, Gov. Ifeanyi Ugwuanyi said: Rangers still remain the pride of the Igbo people.
It is a thing of honour that the aim of establishing Rangers is still on course.

It was Gods doing that in 2016, Rangers won the Nigeria Football League trophy and followed it up with the Aiteo Cup in 2018, he said.

Ugwuanyi said that the Aiteo Cup victory was a miracle, saying: I called it the Miracle of Asaba.

I recall that Rangers are a football club like no other formed in the then East Central State.

Rangers FC announced its arrival in the Nigeria soccer space with the win of a national soccer competition and qualification for the African Cup of Champions Clubs.

This unprecedented superlative entry behaviour, a record no other club had set in Nigerian soccer history, underscored the legendary fighting spirit of the club.

Little wonder Rangers are reckoned as the Pride of the East and Flying Antelopes.

The governor paid special tribute to the founders of the club, past and present Rangers players for defending the colour of the club.

Reviewing the book, a lawmaker, Mr Chima Obieze, representing Ezeagu State Constituency at the State House of Assembly, said the book is all about Rangers glory in football.

It started from evolution of football to how Rangers FC was formed after the civil war by Jerry Enyiazu, he said.

He said the book narrated how Rangers waited for 32 years for trophy and how it came to an end in 2016 with the nations league trophy.

The author of the book, Mr Basil Ojengwa, said that determination remained the backbone of progress and a tool for achievement.

According to him, history will not forgive us, if we do not appreciate and document Rangers achievements, especially of late when it seems that the club has been forgotten.

Rangers are the pride of the Igbo nation and international club that has held its own in Nigeria and Africa, he said.

In a vote of thanks, the Commissioner for Youths and Sports, Manfred Nzekwe, thanked the governor for revitalising sports in the state.

He described Ugwuanyi as a sports-loving governor, whose performance went beyond soccer to other sports in the state.

Nzekwe attributed the states performance at the National Sports Festival (NSF): Edo 2020, where the state won seven medals, to Ugwuanyis support.

He said, Enugu used to go to NSF with lots of sports without much medals to show at the end but this time we went with only four sports and won seven medals.

NAN reports that Rangers had won Nigeria League trophy seven times, Federation Cup six times and Continental Cup once since its 51 years in the round leather game . (NAN)

Source: NAN News

By Monday Ajogun

The Federal Ministry of Agriculture and Rural Development says it has trained 30 coconut farmers on nursery establishment, field development, harvesting, processing and marketing in Edo.

The Permanent Secretary in the ministry, Dr Ernest Uwakhihe, said this on Thursday in Benin.

He spoke at the opening of capacity building workshop for coconut farmers in collaboration with the Nigeria Institute for Oil Palm Research (NIFOR).

Uwakhihe expressed federal governments commitment to changing the socio-economic status of farmers.

He said that the capacity building workshop was coming at a very crucial moment when the country was recovering from a difficult spell of the COVID-19 pandemic.

According to him, the administration of President Muhammadu Buhari is at the point of turning around the nations economy by supporting farmers.

Coconut is one of the most important and useful economic tree crop.

Its a major non-oil export foreign exchange earners for the country, providing livelihood for more than 500,000 families in Nigeria, he observed,

He commended NIFOR for partnering with the federal government in conducting the capacity building workshop.

The Acting Executive Director of NIFOR, Dr. Celestine Ikuenobe, said that coconut production offered great opportunities for export earnings.

Earlier, Mrs Okoroji Okechukwu, the National President, National Coconut Producers, Processors and Marketers Association of Nigeria, commended the sponsors of the workshop, saying that it would transform the agricultural sector. (NAN)

Source: NAN News

By Stanley Nwanosike

The Independent National Electoral Commission (INEC) has expanded the polling units in Enugu State from 2,958 to 4,147 polling units to create easy access to polling units in the state.

Dr Emeka Ononamadu, the INECs Resident Electoral Commissioner for Enugu State, told newsmen in Enugu on Friday that the new polling units were those converted from an existing 1,189 voting points.

Ononamadu explained that the new polling units, which were created following strict adherence to the guidelines for conversion, was meant to curb overcrowding in polling units, also leading to lack of voters access.

The guidelines which state that polling units should be located based on the following considerations:

Must be in public places, preferably centrally located and accessible; and non-sectarian facilities like community halls, health centres, court premises, public recreation centres, amongst others.

Spacious facilities that can comfortably sit election officials, party agents, election observers and other legitimate election staff.

Adequately covered locations such as classrooms and halls; and locations or facilities that can take more than one polling unit, he said.

The commissioner said that the guidelines made it clear that that no polling unit would be located in private buildings, houses of traditional rulers, religious buildings, political party buildings or residence of government officials.

Or any building which a voter may under any circumstance be denied access, except as prescribed by the law.

No new polling unit should also be located in any building or facility that is in dispute or inaccessible to persons living with disabilities, he noted.

Ononamadu noted that it was necessary to address rumours and misinterpretation of the exercise.

According to him, the same standard and guideline being applied in Enugu State is applicable all over the federation.

There were certain rumours that it was only some communities that secretly applied for new polling units that were given new polling units.

There was also rumour that it was the pressure from politicians to give them new polling units that INEC is yielding to. These rumours are all false.

INEC is simply converting existing voting points into polling units; therefore, polling units creating is not a direct response to any application or pressure, he said. (NAN)

Source: NAN News

By Chinyere Joel-Nwokeoma
First Bank of Nigeria (FBN) on Friday confirmed that Dr Adesola Adeduntan had resumed as the Chief Executive Officer in line with the directives of the Central Bank of Nigeria (CBN).

A statement by the management of the bank said Adeduntan had resumed as directed by the apex bank.

We can confirm that the bank is cooperating with the Central Bank of Nigeria and other regulators while the operations of the Bank are not hampered or hindered in any way and are in fact running smoothly.

We further wish to reassure the public, our esteemed customers and stakeholders in the words of the Governor of the Central Bank in concluding his press conference, said the statement.

The CBN governor had said, The CBN hereby reassures the depositors, creditors and other stakeholders of the bank of its commitment to ensuring the stability of the financial system.

According to the management of First Bank, there is, therefore, no cause for panic among the banking public, given that the actions being taken are meant to strengthen the bank and position it as a banking industry giant. (NAN)

Source: NAN News

By Sumaila Ogbaje

The Chief of Army Staff (COAS), Lt.-Gen. Ibrahim Attahiru, has approved the renaming of the ongoing counter-insurgency operation in the North East from Operation Lafiya Dole (OPLD) to Operation Hadin Kai (OPHK).

The Director, Army Public Relations, Brig.-Gen. Mohammed Yerima, disclosed this in a statement on Friday in Abuja.

Yerima said the development was premised on the fact that the Nigerian Army (NA) had made a lot of progress over the years and needed to re-align for better efficiency.

He disclosed that changes would also affect the re-designation of the Army Super Camps to now reflect the nomenclature of the formations and units followed by the name of the locations they occupy.

The Army spokesperson also said the sub-units were redesigned as Forward Operating Bases (FOBs) followed by the name of their locations, adding that all the changes were with immediate effect.

According to him, the renaming is in line with the COAS vision of having A Nigerian Army that is repositioned to professionally defeat all adversaries in a joint environment.

It is the belief of the COAS that the complete defeat of insurgency is a process that requires the participation of the entire nation using all elements of national power.

He further gave assurance that the Nigerian Army under his leadership will continue to pursue the path of jointness in prosecuting the counterinsurgency war, he said. (NAN)

Source: NAN News