Events

ZENITH BANK FETES SHAREHOLDERS WITH DIVIDEND PAYOUT OF N87.9 BILLION

Published

6 years ago

March 17, 2020

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Shareholders of Zenith Bank Plc, on Monday, at the 29th Annual General Meeting of the Bank held at the Shehu Musa Yaradua Centre, Abuja unanimously approved the proposed final dividend of N2.50 per share, bringing the total dividend payment for the 2019 financial year to N2.80 per share with a total value of N87.9 billion. This followed the recent release of the Bank’s audited financial results for the 2019 financial year.

According to the audited financial results for the 2019 financial year, Zenith Bank recorded a profit after tax (PAT) of N208.8 billion, an increase of 8% from the N193 billion recorded in the previous year, thus achieving the feat as the first Nigerian Bank to cross the N200 billion mark.

The Group also recorded a growth in gross earnings of 5% rising to N662.3 billion from N630.3 billion reported in the previous year. This growth was driven by the 29% increase in non-interest income from N179.9 billion in 2018 to N231.1 billion in 2019. Fees on electronic products continue to grow significantly with a 108% Year on Year (Y-o-Y) growth from N20.4 billion in 2018 to N42.5 billion in the current year. This is a validation of the bank’s retail transformation strategy which continues to deliver impressive results.

Profit before tax also increased by 5% growing from N232 billion to N243 billion in the current year, arising from topline growth and continued focus on cost optimisation strategies. Cost-to-income ratio moderated from 49.3% to 48.8%.

The drive for cheaper retail deposits coupled with the low-interest yield environment helped reduce the cost of funding from 3.1% to 3.0%. However, this also affected net interest margin, which reduced from 8.9% to 8.2% in the current year due to re-pricing of interest-bearing assets. Although returns on equity and assets held steady YoY at 23.8% and 3.4% respectively, the Group still delivered an improved Earnings per Share (EPS) which grew 8% from N6.15 to N6.65 in the current year.

The Group increased its share of the market as it secured increased customer deposits across the corporate and retail space as deposits grew by 15% to close at N4.26 trillion. Total assets also increased by 7% from N5.96 trillion to N6.35 trillion. The Group created new viable risk assets as gross loans grew by 22% from N2.016 trillion to N2.462 trillion. This was executed prudently at a low cost of risk of 1.1% and a significant reduction in the non-performing loan ratio from 4.98% to 4.30%. Prudential ratios such as liquidity and capital adequacy ratios also remained above regulatory thresholds at 57.3% and 22.0% respectively.

In recognition of its track record of excellent performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co. The Bank was also recognised as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards. Most recently, the Bank emerged as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the recently released Banker Magazine “Top 500 Banking Brands 2020”, the Best Bank in Nigeria 2020 in the Global Finance World’s Best Banks Awards 2020, and the Bank of the Decade (People’s Choice) at the Thisday Awards 2020.

Business

Tunde Ednut Earns $5,000 Per Day! -Report

Published

1 month ago

September 22, 2025

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“Tunde Ednut earns $5,000 average per day, ISWIS made approx $200,000 from live events in one month” — Chude Jideonwo unveils creator economy data at Digital Creator Africa Summit

At the inaugural Digital Creator Africa Summit, media entrepreneur and #WithChude host Chude Jideonwo unveiled new data positioning the Nigerian creator economy as one of the most commercially powerful industries on the continent.

Highlighting explosive growth and overlooked business models, Jideonwo revealed that:

• Tunde Ednut, the former musician turned Instagram media mogul, is estimated to earn over $5,000 a day through his platform — with a business model based on affiliate promotion, Instagram advertising, and music amplification.

• The hit podcast “I Said What I Said” (ISWIS) reportedly made approximately $200,000 in gross revenue from live events alone in a single month, drawing thousands of fans across there US, the UK and Canada.

• “What these numbers show,” Jideonwo said, “is that creators are no longer just influencers — they are media companies, and increasingly, nation-builders.”

The summit, held in Lagos and attended by creators, investors, and media leaders, was designed to shift the conversation from virality to value — reframing content creation as infrastructure, not just entertainment.

As part of his address, Jideonwo announced his $500,000 personal commitment to the FourthMainland Creator Fund — a catalytic investment vehicle to back high-potential African creators with funding, IP support, and platform distribution.

“We’re building the Mavin Records of storytelling,” he said. “Not just with fame, but with financial tools, ownership, and a full studio system that lets creators scale across the continent and diaspora.”

The Creator Fund is part of the broader FourthMainland ecosystem, a creator commerce platform set to launch in 2026. The platform will offer monetization tools, subscription infrastructure, and joint-IP models built around African content — positioning it as the first at-scale infrastructure for the continent’s growing $100B creator economy.

Jideonwo, whose ventures include Joy, Inc., #WithChude, and YNaija, closed with a call to funders and policymakers:

“If music had Mavin Records and tech had CcHub, then creators now have their studio systems — their Mavins — and they’re building billion-dollar value chains without waiting for permission.”

The keynote, titled “Overtaking is Allowed,” argued that Africa’s most important civic and cultural shifts today are being led by independent creators, and that media-tech infrastructure for creators is now one of the biggest opportunities for economic growth across the continent.

Entertainment

Excitement, Joy as Lagos Guber Hopeful, Jandor Marries in Qatar

Published

2 months ago

September 17, 2025

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It was a weekend of glamour, joy and excitement as Lagos politician and businessman, Olajide Adediran, popularly known as Jandor, tied the knot in faraway Qatar.

The destination wedding which took place at the Fairmont Hotel, Doha drew close friends, family and political associates, was nothing short of magical. With the exotic backdrop of Doha’s luxury setting, Jandor and his bride exchanged vows in an intimate but elegant ceremony that had the air of class, style and exclusivity.

Guests, many of whom jetted in from Lagos and Abuja, were treated to a blend of traditional Nigerian warmth and Middle Eastern splendour. From the lavish décor to the exquisite cuisine, it was an affair that reflected both cultures in perfect harmony.

For Jandor, who has continued to attract attention on the Lagos political scene, the wedding to his heartthrob, Bukola was a refreshing moment of happiness, away from the hustling pulse of politics. His bride, radiant in her flowing attire, was the toast of the evening, with cameras capturing every dazzling smile.

As the couple began their journey together, family and well-wishers showered them with prayers, gifts and best wishes. The event, insiders say, will be remembered for its intimacy, its class, and the joy it radiated across the circles of Lagos high society.

Events

Celebrating Oba Sikiru Adetona’s 64 Years As Oba; The King Many Monarchs Wish To Be

Published

2 years ago

April 2, 2024

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Celebrating Oba Sikiru Adetona 64 years as Oba; The King Many Monarchs Wish To Be

Oba Sikiru Adetona 64 years on throne

Blessed By God And Honoured By Men

Oba Dr Sikiru Kayode Adetona, the Awujale of Ijebuland is the kind of king monarchs aspire to be, and at 64 years on the throne, that prestige has not waned a bit.

Installed as king on April 2, 1960, just a few months shy of Nigeria’s Independence, Awujale’s reign is currently older than the Federal Republic of Nigeria. As it stands, he is the longest-reigning first-class monarch in Nigeria. These are not mere statistics, they are hard facts that prove that Oba Adetona is a king blessed by God and honoured by men.

A cursory look at the life of this esteemed ruler is proof that when there are kings who are not limited in wisdom, power, goodness, and love for their subjects, then monarchy would be the best of all systems of government.

Every year, at the Ojude Oba festival, multitudes of Ijebu citizens throng home from all around the world to celebrate and felicitate with their beloved king. They do this not out of duty or an enforced obligation, but out of a deep-seated love for their king and their land.

But Awujale’s path to the throne was not one paved with velvet and inlaid with a thornless bed of flowers; no, it was rough, the journey was tough, and the experience could sometimes be bitter, as with that of men with great destinies. But these only served as stepping stones to his future, unanimously given, the throne.

Ọba Sikiru Olukayọde Adetọna, Ọgbagba Agbotewole II, was born 90 years ago on May 10, 1934, into the Royal House of Anikinaiya of Ijẹbuland in his father’s house in Imupa, Ijebu Ode.

As a prince from the line of Oba Adeleke, Ọgbagba Agbotewole I (c. 1825–1906), who was the Awujalẹ of Ijẹbuland from 1895 to 1906 and a descendant of Olu-Iwa, the legendary first Awujalẹ and Ọbanta, another founder of the Ijẹbu kingdom, Oba Sikiru was born to greatness.

After attending various Baptist Schools, Ereko, Ijẹbu-Ode; Ogbere United Primary School, Oke Agbo, Ijẹbu-Igbo; and Ansar-Ud-Deen School, Ijebu-Ode between 1943 and 1950, he attended Olu-Iwa (now Adeola Odutọla) College, Ijebu-Ode from 1951 to 1956. Between 1957 and 1958 he took up an appointment with the then Audit Department of the Western Region, Ibadan. From there on he resigned his appointment in 1958 to pursue further studies in accountancy in the United Kingdom.

By a letter dated January 4, 1960, referenced CB. 4 1/333, the Permanent Secretary in the Western Region Ministry of Local Government conveyed to the Local Government Adviser in Ijẹbu Ode approval of the Western Region Governor in Council, the appointment of Prince Sikiru Kayode Adetona as king, and his confirmation as the new Awujale of Ijebuland with effect from that date (January 4, 1960).

Prominent Ijẹbu sons like the late Ọgbẹni-Ọja, Chief (Dr.) Timothy Adeọla Odutọla, Bọbasuwa I, Chief Emmanuel Okusanya Okunọwọ (MBE, KFNM); and Aṣiwaju, Chief Samuel Ọlatubọsun Ṣhonibare began to arrange for the home-coming of the King-elect, and on January 18, 1960, the Head of the Ijẹbu Ode Regency Council, the Ọgbeni-Ọja, Chief Timothy Adeọla Odutọla formally presented the new traditional ruler to the whole world.

A man of tradition, he embarked on the customary traditional seclusion at the Odo for three months.

It would be remembered that even though Oba Sikiru Kayọde Adetọna had earlier been nominated along with five others by the ODIS, his great destiny prevailed and he was unanimously selected by the kingmakers in conformity with Section 11 of the Chiefs Law of 1957 applicable in Western Region. The then Governor signed the Instrument of Office approving Prince Sikiru Kayọde Adetọna as Awujalẹ of Ijẹbuland, and the formal coronation took place on Saturday, April 2, 1960.

But in the midst of all these, he had many documented and undocumented trials and travails.

Looking back, Oba Adetona’s extraordinary destiny serves history in preservation. His is a life to be wished for, a legacy that must be preserved, and a story that must continue to be told for generations to come.

Not many kings want their life story in the public domain, instead, as second-in-command to the gods, they prefer that air of mystery to ensure that their rule remains absolute and their personal affairs secret. But Awujale is a different kind of king – an erudite. He authored his biography, laying his cards bare and ensuring that many can learn the lessons of history through his life’s story. This is what formed the basis of the soon-to-be-released biopic, ‘Awujale’ by Ultimate Communications, as directed by Tunde Olaoye.

Currently gearing for an Ijebu premiere later this month, the film follows the life of Oba Sikiru through the ages in an unfolding story. This documents through film the life of one of the greatest obas in Yoruba Land.

As he marks his 90th birthday, it is only fitting that one should say ‘Kabiyesi O! Long may the crown sit on the head, long may the shoes fit the wearer, and long may you reign.” But in prayer, many would secretly say to the creator “May I be as great as the king, Oba Sikiru Kayode Adetona, the Awujale of Ijebu Land.”

Seun Oloketuyi Producer of the biopic writes from Lagos