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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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Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

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The Lagos State House of Assembly convened for a crucial legislative session yesterday, but an unexpected absence stole the spotlight, the ousted Speaker Mudashiru Obasa was nowhere to be seen. The sitting, which focused on key legislative matters and a commendation of President Bola Ahmed Tinubu’s leadership, went on without Obasa, raising eyebrows among lawmakers and political observers alike.

New Speaker Mojisola Meranda presided over the proceedings, ensuring the session ran smoothly. During deliberations, the lawmakers took turns applauding President Tinubu for his strides in governance, particularly his economic and infrastructural policies aimed at revitalizing Lagos and Nigeria as a whole. However, whispers about Obasa’s absence could not be ignored.

Sources within the Assembly remained tight-lipped on the reason for his nonappearance, fueling speculation.

As lawmakers dispersed after the session, the big question lingered where was  Obasa? For now, the mystery remains, but all eyes will be on the next sitting to see if the seasoned politician resurfaces.

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Meet The New 47-year-old Alaafin Of Oyo, Prince Akeem Owoade

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Prince Akeem Owoade is a Nigerian and Canadian entrepreneur, philanthropist, and president of 100279 Manitoba Limited, a  real estate investment and financial services business in Manitoba, Canada.

 

Born 47 years ago to a prominent and royal family of Owoade-Agunloye in Oyo town, Prince Akeem Owoade is one of the surviving children of Pa Rasaki Ibiyosi Owoade, the descendant of Aremo Aderounmu Iyanda Owoade, Agure Compound, Oyo town in Oyo State, Nigeria.

Prince Akeem Owoade completed his secondary school education at Baptist High School, Saki, Oyo State, Nigeria in 1992. His father worked for Oyo North Agricultural Development Programme (ONADEP) helping Oke-Ogun community in boosting agricultural productivity.

aking an early interest in engineering, Prince AkeemOwoade began his engineering studies by completing his National Diploma and Higher National Diploma in Mechanical Engineering from ‘The Federal Polytechnic, Ilaro, Ogun State (1994 to 1997) and The Polytechnic, Ibadan (1999 to 2001), Oyo State. Nigeria respectively. He did his NYSC with Nigeria Gas Company as Mechanical Intern/Planner in 2002.After the completion of his NYSC, he worked with Oceanic Bank International Plc. in Warri as a teller. (2003 to 2004).

Prince Akeem Owoade decided to further his education in the United Kingdom where he attended University of Sunderland (2008) and Northumbria University (2012)

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Panic As Governor’s Official Car Got Stolen

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Confusion and fear was the order of the day at one of the Government houses in the Southwest some days ago when one of the official vehicles of the Governor, a bullet-proof jeep allegedly disappeared from the garage.

The SUV which is said to be one of the three bullet-proof vehicles being used for the Governor’s official assignment was discovered missing.

The Governor who was out of the country on a short, rest leave was claimed to have been disturbed when he was alerted.

Sources claimed it wasn’t the first time things would get missing at the Governor’s private residence.

‘There had been series of thefts, ranging from missing cash, phones and other expensive items, it’s usually swept under the carpet. Indiscipline is the order of the day here’, a source confirmed this to papermacheonline.

The State Governor, a quiet individual who is spending his second time in office was said to have been disturbed by the occurrence that he had to cut short his leave and return home. One of his closest aides was also kidnapped recently.

 

 

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