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COVENANT UNIVERSITY WINS MAIDEN CFA INSITUTE RESEARCH COMPETITION

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Covenant University has emerged the first-place winner in Nigeria’s stage of the global CFA Institute Research competition at the finals held in Lagos on Saturday.
Covenant University beat University of Lagos and Obafemi Awolowo University, which emerged second and third place winner, respectively in the competition sponsored by Zenith Bank Plc. Eight universities took part in the maiden edition.
Covenant University will consequently represent Nigeria at the Regional CFA competition in Dublin, Ireland, on April 4 and April 5.
The CFA Institute Research Challenge is the world’s most prestigious investment research competition among university students globally, aimed at promoting best practices in equity research among the next generation of analysts.
The competition promotes ethics and best practices in investment research through hands-on mentoring and intensive training in equity analysis and presentation. The overall objective of the CFA Institute Research Challenge is to provide university students with valuable real-world exposure to the practice of finance to complement the theoretical framework of the university education.
Apart from the finalists, other universities that took part in the competition are Ahmadu Bello University, Babcock University, Obafemi Awolowo University, Lagos Business School and University of Abuja.
Speaking at the final stage of the competition, Mr. Jim Ovia, Chairman of Zenith Bank, said the bank had always anchored its Corporate Social Responsibility (CSR) towards empowerment, development, building skills, talent and capabilities among the youths.
He said that the bank aligned with CFA Research Challenge’s overall objective of providing a platform for university students to put into practice their theoretical knowledge.
He said: “It is a way of encouraging the professionals to inculcate the spirit of professionalism and ethics right from very early stage.
“We believe that something will be required so that we can deepen the pool of talents we have that will take care of corporate organisations tomorrow.
“I find the Institute Research Challenge axiom: “promoting best practices in equity research among the next generation of analysts’’ quite intriguing.
“It is clearly highlights succinctly what and who we are here for; the next generation of financial analysts,’’ he said.
Ovia, who was represented by Mr. Ebenezer Onyeagwu, the Deputy Managing Director of the bank, commended the eight universities that made it to the last stage of the competition.
He stated, “You have proven to be fearless by coming together in your various universities to put together pioneering teams for a tasking competition as the CFA Institute Research Challenge.
“There are so many of your colleagues out there that wouldn’t want the extra burden or work, but you all opted to take this on,” he said.
On his part, Banji Fehintola, the President, CFA Society Nigeria, said the society was approved in 2012 as the 137th Society of CFA Institute.
Fehintola said that the society was one of five societies in Africa registered in Nigeria as an incorporated Trustee in Feb. 2013.
He said that the purpose of the research challenge among the university undergraduates of different universities was to introduce students to the practical side of investment analysis.
Fehintola said the society currently had about 230 members.
Participating teams were required to conduct a detailed investment research on a subject company and will be presenting their research reports to a high-level panel of investment.
Covenant University will now join 35 other national champions at the Europe, Middle East and Africa (EMEA) Regional Competition in Dublin, Ireland in April 2018 to compete for a slot in the four-team global final that will hold in Seoul, South Korea in the same month.

Every Day For The Thief: EFCC Arraigns Two For Defrauding Zenith Bank Topshot, Victor Adoji

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The Head of Corporate Communications of Zenith Bank Plc. Victor Adoji had just won a resounding victory.

The victory comes in the arrest and prosecution of two men, John Zino and Festus Otoigiaghae who connived and blackmailed the banker to the tune of a million naira.

John who claimed to be a lawyer working for the EFCC was alleged to have approached Victor and told him the commission is investigating him for being in possession of some hard currencies with which he intends to use to contest a political ambition in his State, Kogi.

Unknown to the culprits, Adoji had immediately contacted the EFCC who instructed him to play along. Adoji allegedly paid the money and some months later the fake ‘EFCC lawyer’ came with another request where he demanded that the banker should pay 100,000 dollars for him to settle some officials of the EFCC.

In a sting operation, the duo were picked up by the intelligence unit of the commission and were charged to court for conspiracy, impersonation and obtaining by false pretence.

The charge which was brought before Justice Josephine Oyefeso was adjourned till the 18th of December, 2017 for the hearing of the bail application and commencement of trial.

All Set For Zenith/Delta Cup Season 2

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All is set for the second edition of the Delta State Principals Cup football competition for all secondary schools sponsored by Zenith Bank.
At the media conference of the Season 2 of the competition on Thursday, Governor Ifeanyi Okowa affirmed his resolve to give all young Deltans a platform to excel in their various areas of specialization and to expose their talents in the state to the global community.
The Delta State Commissioner for Basic and Secondary Education, Chiedu Ebie, who on behalf of the governor said the opening ceremony is scheduled for November 1, 2017 at the St Patrick’s College, Asaba while the final is scheduled for February 2018 at the Ozoro Polytechnic Stadium.
Stressing that the revival of the Principals Cup was one of the programs outlined by the Governor towards enhancing the grassroots sports developmental drive of the state, Ebie said that the Okowa administration was keen on redirecting the focus of young Deltans to meaningful ventures.
He commended Zenith Bank for partnering with the state and urging the private sector to also partner with the government on its laudable programs towards giving the youth a brighter future.
Deputy Managing Director of the Zenith Bank, Mr Ebenezer Onyeagwu, represented by Mr Lucky Ighade, the Deputy General Manager Asaba, assured of the bank’s determination to continue its partnership with the state, saying the Principals Cup was a veritable tool for engaging the youth in productively.
He said the Zenith Bank Delta Principals Cup was a flagship program of the bank aimed at giving back to society as well as providing the youth with a better future.
Ighade said the tournament was part of the bank’s ways of developing grassroots sports in the country with the hope that future stars would emerge therefrom to represent the country in international football competitions.
The Chairman of the Delta State Sports Commission, Chief Tonobok Okowa, represented by the Director-General, Mr Victor Onogagamue, assured that the commission will give necessary technical support to the programme.

ZENITH BANK LEADS WITH HALF A TRILLION NAIRA GROSS EARNINGS IN 9 MONTHS

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In a clear show of resilience and strong market share in the Nigerian banking industry, Zenith bank posted impressive gross earnings of N531bn for the 9 months to 30th September 2017. This represents an increase of 40% year-on-year and 5% year-to-date, and in fact the highest published by any bank in the Nigerian Banking industry in the current reporting period.
The bank demonstrated its ability to take the right actions and make the right choices in its Assets and Liability management strategies culminating in an increase of 27% in interest income from N285.7bn as at 30 September, 2016 to N361.8bn as at 30 September 2017. The bank was able to strategically switch assets in favour of high yielding asset classes and was also able to optimally price its assets in a yield environment.
Also Non-interest income grew 79% year-on-year to 169.5bn driven by the bank’s ability to take advantage of its strong foreign currency liquidity to generate income.
The Profit before tax (PBT) and Profit after tax (PAT) of Zenith witnessed an impressive growth of 31% and 35% year-on-year respectively to N152.5bn and N129.2bn. Again this is a show of resilience and demonstration of the ability of this financial institution to innovate and create impressive value from resources available to it.
We note further that Zenith achieved this excellent financial performance, despite adopting a very conservative approach to recognizing potential losses in its risk asset portfolio.
The bank has continued to maintain solid and high quality capital position with capital adequacy ratio at 21% well above statutory requirement of 15% and providing room for further growth and strong and consistent dividend payout. Liquidity ratio remains strong at 61% and also well above the regulatory requirement of 30%.
Consistent with this superlative performance and in recognition of its track record of excellent performance, the bank was recently honoured as The Bank of the Year and Best Bank in Customer Service by the publishers of BusinessDay Newspapers.

Zenith Bank Restates Commitment To Promotion Of ICT Knowledge Among Nigerian Youths

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Zenith Bank says it would continue to promote efforts that improve ICT knowledge and penetration in Nigeria through its sponsorship of Nigerian students in the global Microsoft World Championship.

The bank’s Group Managing Director, Mr. Peter Amamgbo, said this in Lagos on Wednesday at the Annual ReadManna Award and ICT Exhibition where prizes were presented to the Nigerian winner and participants at the Microsoft Word Championships.

The 2017 edition of the Microsoft Word Championship was held in Disneyland, California, U.S.A, where a Nigerian student, Katrina Eta, won the third place. The bank has partnered with ReadManna since 2010 for the Nigerian championship and since 2014 for the world championship.

Amangbo said that the bank was doing this through its commitment to the sponsorship of Nigerian students at the global competition, in line with its corporate social responsibility which has the promotion of ICT as an empowerment tool at its core.

Amangbo, who was represented by Mrs. Wunmi Ogunbiyi, a General Manager in the bank, said that the bank’s partnership with Readmanna, the organisers of the championship in Nigeria, has the potential to further improve ICT knowledge among Nigerian students.

JIM OVIA RECOGNISED IN AMERICA AS AFRICA’S BUSINESS LEADER

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Endorsement and recognition has again come the way of Jim Ovia, Chairman of Zenith Bank Plc. as he was on Tuesday night recognized as a leading entrepreneur in Africa by the African-American Institute (AAI).

Ovia, in what is a reward for his business leadership and philanthropy, received the AAI 2017 Business Leader Award at a ceremony held on the sidelines of the ongoing United Nations General Assembly in New York, the United States. He was recognized for impacting hugely on enterprise and human resource development on the continent.

Ovia, founding Group Managing Director and CEO of Nigeria’s largest bank, was honoured along with President Nana Akufo-Addo of Ghana (National Achievement); Nicole Amarteifio, (Leadership in African Media and Arts); and Bozoma Saint-John, Chief Brand Officer, UBER (Innovation & Technology) as Africa’s best

The Africa-America Institute was set up in 1953 to help increase Africa’s human capacity for development through training and education and recognizes Africans who have demonstrated remarkable achievements in various fields, the intention being to present the award winners at the high profile stage of the UN General Assembly as representatives of the great work going on in Africa.

The AAI awards, which is announced annually and showcases Africa’s best, has honored individuals who are working to fulfill AAI’s mission of increasing Africa’s human capacity for development and promoting engagement between the African continent and America.

The awards are presented at a special gala night bringing together African Heads of State and diplomats, international and senior U.S. government officials, business and civil society leaders, educators, journalists, philanthropists and other prominent figures who are working towards advancing economic and development progress in Africa

Ovia was at the helm of affairs at Zenith Bank, from inception, for 20 years until his resignation in July, 2010 but was reappointed the Chairman of the bank in 2014. He was a member of the National Economic Management Team of Nigeria and he is a member of the Honorary International Investors’ Council.

Jim Ovia is a philanthropist and the founder and proprietor of James Hope College, Agbor, Delta State. His foundation, the Jim Ovia Foundation, which focuses on providing scholarship to the less-privileged, has a number of beneficiaries that are now qualified medical doctors, engineers, etc.

He is also the Founder of several enterprises and philanthropic institutions including the Youth Empowerment & ICT Foundation, which focuses on improving the socio-economic welfare of Nigerian youths by empowering them to embrace Information and Communication Technology.
In recognition of his achievements particularly in support of the Nigerian economy, Jim Ovia was conferred with the national award of Commander of the Order of the Niger (CON) in November, 2011.

Jim Ovia holds a Master’s degree in Business Administration (MBA) from the University of Louisiana, Louisiana, USA (1979) and a B.Sc. degree in Business Administration from Southern University, Louisiana, USA (1977). He is an alumnus of Harvard Business School (OPM).

Zenith Bank Receives D’Tigress (vows to continue support for basketball)

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Sponsor of the National Women Basketball League, Zenith Bank, on Thursday received the victorious AfroBasket champions, D’Tigress at the company’s headquarters in Lagos.

The Group Managing Director of Zenith Bank, Peter Amangbo, congratulated the players and officials for the remarkable feat recorded in Bamako, Mali.

D’Tigress were glorious at the championship as they won all their matches including two against the defending champions and tournament favourites, Senegal. The first was a group match which they won 58-54 and the second was the final which ended 65-48.

Amangbo stressed that the bank and indeed Nigerians were proud of the achievement of the team at the AfroBasket

He said: “It was not only the win that was exciting but also the way you won. During the competition, we were following your progress with keen interest and it is heartwarming that you came back as champions.

“We always support people who are committed just like you. Nigerians have made a mark in basketball. We all know about the exploits of Akeem Olajunwon. Raptors is my favourite team and the GM of the team is a Nigerian.”

The Zenith Bank boss also stressed that the company will throw its weight behind the team for the World Championship slated for Spain next year.

“Now that you are going to Spain, we are going to support you again for the competition,” he added.

Captain of the team, Aisha Muhammed, commended the bank for hosting the team, and supporting the game in the country.

“I am happy to be here because the support Zenith has been giving the game is a big one for our colleagues playing in Nigeria,” she said.

The team was rewarded with cash awards, which were paid into accounts opened for them during the visit, and for which they were all presented with Debit Cards.

The vice president of the Nigeria basketball federation, Babatunde Ogunade, who led the team showered praises on Zenith Bank for its continued support for the game.

He noted the fact that the bank had through its sponsorship of the women league enabled Nigerians women basketballers to challenge for the leadership of game in Africa.

Ogunade also said that three members of the winning team, Chioma Udeaja, Nkechi Akashili and Upe Atosu featured in the recently held Zenith Women league.