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Shareholders Hail Zenith Bank’s N507.9 Billion Earnings

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Shareholders of Zenith Bank Plc yesterday hailed the management and board of the bank for an impressive performance for the year ended December 31, 2016.

The shareholders who spoke at the Annual General Meeting (AGM) in Lagos said the gross earnings of N507.997 billion recorded in 2016, up from N432.535 billion in 2015, was highly commendable considering the challenging operating environment.

They were also highly impressed with the profit before tax of N156.748 billion recorded in 2016, which showed a significant jump above the n125.616 billion in 2015.Similarly, profit after tax rose from N105.531 billion to N129.65 billion.

The elated shareholders approved the final dividend of N55.573 billion for the year, which translates to 177 kobo per share.

Addressing the shareholders, Chairman of the Zenith Bank Plc, Mr. Jim Ovia said despite the challenging operating environment, the bank was able to fully exploit the available opportunities to post the impressive results.

According to him, in line with its commitment to delivering superior returns to its much-valued shareholders, the bank ensured that a good chunk of the profit is set aside for them.

“In this regard, we have declared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid the previous year,” Ovia said.

He stated that even in the face of a very challenging operating environment, Zenith Bank has maintained its culture of outstanding performance and industry leadership.

“As a bank, we are monitoring developments both in the local and global economy and applying pragmatism and dynamism as appropriate. Our strategy and approach to the pursuit of financial inclusion and sustainability gives us a lot of competitive advantage to explore even new frontiers in the market,” he said.

Speaking in the same vein, Group Managing Director/Chief Executive Officer of Zenith Bank, Mr. Peter Amangbo said as an institution of well-primed people, the bank relied on a its pool of exceptional staff to make sound and timely decision and addressed issues in a manner that anticipated developments and demonstrated excellent understanding of the dynamics of the market and economy in 2016.

He assured that “We shall continue to demonstrate extraordinary commitment to our customer s while maintaining focus on all the areas fundamental to adding value to our partnership.”

Looking ahead, he said although 2017 will come with its challenges, and opportunities, “but I am confident that our determination, resolve and rare commitment to customer s well as our adaptive ability will ensure resounding results.”

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Parrot Xtra Publisher Celebrates Hassan Fatungase At 60

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 Publisher of Parrot Xtra Magazine/PMParrot.com, Olayinka Agboola has sent out expressive greetings to his long-time friend and brother, Alhaji Hassan Taiwo Fatungase, former Bakers’ World, Ikeja, Lagos Director on the occasion of his 60th birthday anniversary.

 

In a statement  personally signed by Agboola, former Nigeria Coordinator for Ovation International Magazine described Alhaji Hassan Fatungase as the most selfless Nigerian he has ever encountered.

Agboola continued, “Hassan is not only selfless, he is intelligent, forward looking, hard-working, vibrant, resourceful, compassionate and above all, very God-fearing.”

The Ibadan-based media entrepreneur then went ahead to submit that the astute technocrat is a man who appreciates human beings and the value of friendship.

“Those who attended the University of Lagos with him in those days will attest to it that ‘Fatuu’, as he used to be called then would sacrifice anything to keep a working-relationship.

 

“Even when he joined one of the five-star hotels in Abuja in the early 90s, it did not take long before he was promoted to become the very first African to occupy a managerial position before he joined the Bakers’ World family business in Lagos. His records are still there till today.

Feats At Bakers’ World

“While running Bakers’ World located on Allen Avenue in Ikeja, Lagos, journalists, broadcasters, creative young Nigerians and others were encouraged by him. The records are also there for people to verify. There is almost no big name in the entertainment/media industry in Nigeria today that has not directly and/or indirectly benefitted from Hassan’s large-heartedness. As a matter of fact, he used to settle quarrels when differences and ‘head-on-collisions’ were reported to him!”

Agboola also went ahead to describe how the celebrant of the day has been faring since he became the chairman of Abimbola Awoliyi Estate, Oko-Oba in Lagos where he presently lives.

“Hassan is team-player and a man who keeps improving in good-naturedness even as a semi-retired bureaucrat. Residents of Awoniyi Estate will tell his story better. Since he became the chairman some three years ago, living standards have since improved.

“Together with other executive members, the Estate has been winning awards as one of the best in the whole of Lagos State. Solar lights, good roads, fibre-optic-source of internet, faultless security architecture and enhanced sociability…and other achievements have been recorded by the Fatungase-led team.”

Agboola, who was also a pioneer staff at Thisday Newspaper concluded “Dear friends and colleagues, please join me to pray for this quintessential lover of fairness and equity. May Allah continue to be with him, grant him sound health, more prosperity, divine protection and long life. May his wonderful family comprised of ‘Iyalaje’ Doyinsola and the children- Tomisin, Ahmed, Ibrahim and Idris continue to enjoy divine grace too. Happy birthday to our Director at Parrot Xtra Media Network, many happy returns of this day, September 26.”

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‘our silence is not an act of cowardice’ Olugbon Replies Obasanjo

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-Ayotunde Ayanda
The Olugbon of Ile-Ogbon, Oba Francis Alao has reacted to the recent public ridicule where former President Olusegun Obasanjo ordered some Oyo monarchs to stand up.
Some people interpreted it as a reprisal of an attack from the Olugbon, Oba Francis Olusola Alao against the former President in a radio interview where the monarch condemned Chief Obasanjo for opposing the ambition of President Bola Tinubu.
Chief Obasanjo was unapologetic as he defended his actions claiming the monarchs disrespected the Oyo State Governor, Seyi Makinde.
The Olugbon in  his response  called  it  an internal issue and hinted it will be addressed in the Oyo Council of  Obas next meeting.
Below is the message from the Olugbon’s palace…
The outburst of former president Chief Olusegun Obasanjo against traditional rulers in attendance at the inauguration of the Iseyin Campus of Ladoke Akintola University of Technology (LAUTECH) on Friday September 15  has generated anger and varied responses from true sons and daughters of Oduduwa in all sections of the society.
First and foremost, I will like to emphasize that the inauguration ceremony was a huge success while the road and campus projects represent another milestone in the development strides of Governor Seyi Makinde who has been working hard to take Oyo State to the next level of development.
All the royal fathers involved understand the pain caused by the incident and appreciate the well-placed reactions.
I wish to state that the incident is an internal affair which will be properly reviewed at the next meeting of the Oyo State Council of Obas and Chiefs.
Let me assure all Yoruba, and other well-meaning Nigerians who have respect for the traditional institution, and who feel concerned about the incident that our silence since Friday is not an act of cowardice. When we sit down with the Governor, and hold our next meeting, we will review and respond appropriately.
Our Governor respects us, and traditional rulers in Oyo State also hold him in high esteem.
I, therefore, sue for calm over this issue.
We want everybody to apply decorum in line with the Omoluwabi ethos for which Yoruba are greatly respected. Ile Yoruba land shall remain peaceful. Our unity is sacrosanct. These ethos must reflect in our day-to-day activities.
Let it, however, be well noted that traditional rulers in Oyo State have no regret in supporting Asiwaju Bola Tinubu and Governor Seyi Makinde in the last election, and will be willing to support them even in the future.
This is the clear position of monarchs in Oyo State. Any other information from anywhere that is contrary to this should be disregarded.
E-signed:
Oba Francis Olushola Alao
Olugbon of Orile-Igbon
Deputy Chairman,
Oyo State Council of Obas and Chiefs
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‘go and make us proud’ Dollar Construction Boss, Idowu Lamidi Tasks New FIRS Boss, Zaccheus Adedeji

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Construction guru, Idowu Lamidi has praised the appointment of Zaccheus Adedeji as the acting Chairman of the Federal Inland Revenue Service.
Lamidi who is the Chairman of Dollar Construction described Adedeji’s appointment as the right peg in the right hole.
While speaking with journalists in his Abuja office, Lamidi praised President Bola Ahmed Tinubu, claiming all the appointments he has made so far as an indication of what he wants to achieve and finding the best hands that would make his job easier.
The real estate guru whose company owns the Dollar Estate in Ibadan called Zaccheus a very intelligent man that will turn around the FIRS.
‘not many of us were surprised when the announcement came, we all know what he achieved as the Commissioner for Finance under the late Governor Abiola Ajimobi. He is a brilliant man and he has proved what he is capable of doing at all times. We are happy that President Bola Tinubu is a promise-keeper and he is generous to us in Oyo State. No one can fault any of his appointments because these are qualified people. I wish Mr Adedeji the best and also call on God Almighty to always be with him’.  says  Lamidi.
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