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2023: Jonathan Says Nigeria’s Democracy Turning Into Dictatorship, Calls For Right Leader

By
Akinwale Kasali
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Jonathan at Matthew Kukah Birthday

By Akinwale Kasali

Former President, Goodluck  Jonathan, at the 70th Birthday Ceremony of the Catholic Bishop of Sokoto Diocese, Matthew Kukah in Abuja, said Nigeria’s democracy is gradually drifting towards dictatorship.

The former President said that it was necessary for all hands to be on  deck to salvage it by voting credible and right leaders into power.

Speaking on the theme of the event, ‘Nigeria’s unfinished greatness: Next steps,’ Jonathan advised Nigerians to remain vigilant.

He said, “The task before all of us is not to lower our guard, lest the democracy we cherish today succumbs to threats and recedes into fascism tomorrow, and there are signs already.

“Looking at the States and so on, we are derailing towards quasi-fascist form of Government, but democracy is not only about winning elections alone, it is about accommodation. We, as leaders at the Centre and at the State levels, especially at this time when elections are coming, must accommodate different views.

“Towards this goal, we are again faced with a good opportunity of choosing our leaders as the Nation prepares to go to the polls next year. Let us choose those that will take us to the desired destination and the promised land.”

He described Nigeria as a work in progress, adding that until that work is done, “people like Kukah, who serve as the conscience of the nation, will continue to be around to constantly hold the mirror of the nation’s progression to its face.

“Nigeria may not be where we want it to and should be, but we should not give up or lose hope by focusing on only the negative.

“Judging from where we are coming from since independence in 1960, we may have been moving slowly in our journey of nationhood, but it is a journey of progress, all the same,” he added.

Jonathan recalled that members of the Academic Staff Union of Universities also embarked on a prolonged strike during his tenure but he succeeded in ending the crisis.

Sokoto State Governor, Aminu Tambuwal, described Kukah as man with undying love for country.

Tambuwal, who chaired the occasion, reiterated the Catholic bishop’s belief in the possibility of a new Nigeria.

He said although Kukah’s criticism of the nation’s bad governance have been controversial, he (Kukah) believed Nigeria can and would come out of the doldrums of failed political leadership.

Ekiti State Governor, Kayode Fayemi, on his part, said leaders in the country must ensure inclusion and justice for peace and development.

Polaris Bank: For Sale Or Not ?

By
Tosin Olatokunbo
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By Bayo Bernard Business Editor

Four years after Polaris Bank emerged from the defunct Skye Bank as a bridge bank, the Central bank of Nigeria, CBN has reportedly put up the commercial bank for sale.

The Godwin Emefiele-led CBN was said to have decided to sell the bank secretly to one Auwal Lawan Abdullahi, a supposed cousin of President Muhammadu Buhari under highly controversial circumstances for a ridiculous price of N40 billion.

While the details of the alleged deal still remain sketchy, the report appears not well received in the financial sector, where not a few insist that the CBN must ensure that any transaction regarding the sale of the bridge bank is carried out in a transparent manner, if and when the Emefiele-led government bank decides to sell the bank.

Pointedly, keen watchers of the bank also said it will not make any economic sense if the bank is sold for a paltry sum of N40 billion as being alleged when the CBN has already invested over N1.2 trillion for its stabilisation.

Non-transparent sale of Polaris Bank, they say will also not serve the interest of Nigerians and the stakeholders who have watched the bank stabilize in the last few years.

The CBN has yet to deny the report, but Polaris Bank said the report is far from the truth. Why would the bank be sold when it’s doing well, making a good profit, and stabilized the bank recently said in a statement?

The Innocent C. Ike-led bank described the reported sale as fake news that must be ignored by the banking public and other stakeholders.

“Stakeholders may recall the regulatory intervention in the erstwhile Skye Bank by the CBN and the subsequent injection of capital via the Asset Management Corporation of Nigeria (AMCON) through a bridge bank process, which birthed Polaris Bank in 2018,” Polaris Bank said.

The management of the bridge bank further said “The bank has since stabilized its operations following the intervention; improving its balance sheet, customer base, and profitability.

“The Board and Management hereby reassure its customers, staff, and the general public that Polaris Bank remains a stable, strong, and credible financial institution positioned to deliver sustainable value to all its stakeholders.”

The bank’s position seems to align with major stakeholders in the industry who insist that the Regulator must not be involved in the under-the-table sale of the bridge bank.

For instance, a civil rights advocacy group, Human Rights Writers Association of Nigeria, HURIWA last week called on President Muhammadu Buhari to intervene to ensure that the bank is not sold as a section of the media has reported.

The rights group said the president must direct the CBN not to proceed with the secret sale of the commercial bank.

If the CBN is allowed to proceed with the sale, Emmanuel Onwubiko, the National Co-ordinator of HURIWA said such will affect the electoral fortunes of the ruling All Progressives Congress, APC in next year’s election.

The sale of Polaris Bank will also compound the economic misfortunes of some Nigerians, the group said warning the president not to allow himself to be misled by those that want the bank to be sold at all costs.

The group said President Buhari was deceived by the CBN governor to approve the sale of both Union Bank and Exxon Mobil to Titan Bank and Seplat, respectively.

The president must ensure that a similar costly mistake is not repeated with Polaris Bank, it warned.

HURIWA said “President Buhari should stop the illegal sale of the bank immediately. The CBN governor has apparently been misinforming the President to approve ridiculous sales just as he wrongly advised the President to approve the sale Exxon Mobil to Seplat and the attendant bank and forth.

“Recall that Emefiele was also allegedly fingered in the ridiculous sale of 104-year-old Union Bank by two-year-old Titan Trust Bank.

“The Economic and Financial Crimes Commission should have probed the CBN governor over this allegation which is contrary to Sections 9 and 11 of the CBN ACT 2007 but as usual, the former presidential aspirant of the All Progressives Congress, is an untouchable cabinet member of President Muhammadu Buhari.

“The CBN should be stopped from allegedly selling off banks in the country to cronies and friends as end-of-tenure benefits.”

The group has therefore called on the CBN Governor to make its position on the reported sale of Polaris Bank known to the public in order to douse the ongoing confusion, adding that the bank should not be disposed of like a piece of paper after the huge public fund that has been invested.

“It is concerning that the so-called sale lacks transparency and is shrouded in so much darkness as no due diligence was not carried out, no tender, no advertisement to create public awareness, nothing, just some kangaroo and arrangee sale.

“To be exact, selling a bank which over N1.2 trillion was used to rescue at an alleged N40 billion is highly ridiculous and scandalous,” the rights body said.

Some Polaris Bank sources who spoke on condition of anonymity said some employees are already apprehensive over the future of the bank, considering the attendant job losses that are likely to follow the sale.

Meanwhile, the Magazine learned from sources in the CBN that the management is surprised at the backlash that trailed the reported sale of the bank and will soon inform the public of its position on the issue.

APC: Worries As Osinbajo, Amaechi, Others Shun Meeting With Tinubu

By
Tosin Olatokunbo
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Tinubu and Buhari

For the ruling All Progressives Congress, APC all appears not to be well ahead of the 2023 presidential election.
This can only explain why the party’s former presidential aspirants shunned a meeting by the party to garner support for its presidential candidate, Bola Ahmed Tinubu, close watchers of the ruling party said.
Tinubu, a former Lagos Governor emerged winner in the shadow election conducted by the party in June to choose its flagbearer after defeating his closest rivals, Vice President Yemi Osinbajo and Chibuike Amaechi, the immediate past Transportation Minister.
His emergence has somehow polarized the party even though the APC flagbearer has initiated peace moves to pacify co-contestants to support him for the 2023 presidential election.
As part of this consultation, Tinubu met with almost all APC presidential aspirants including Osinbajo, Amaechi, Governor Yahaya Bello of Kogi state, and Senate President Ahmad Lawan, amongst others.
He has also met with Governor Dave Umahi of Ebonyi state who has promised him his support to emerge winner in the presidential election.
Therefore, the Wednesday meeting was meant to build confidence among the presidential aspirants, and forge a united front for Tinubu/Shettima ticket ahead of the critical election.
Apart from those mentioned above, Senator Ibikunle Amosun; Ajayi Boroffice; former Zamfara governor, Ahmad Sani; former Imo State governor and serving senator, Rochas Okorocha; a former Senate President, Ken Nnamani, among others were all billed to attend.
The meeting was however botched as all the aspirants, including Osinbajo stayed away from the meeting.
Even though the vice president was said to have been absent at the meeting due to an official meeting in the United States of America, USA, sources close to him said he was not committal after a notice of the meeting was conveyed to him.
“The vice president has more pressing matters to attend to. The meeting could have been held without him, after all, he has already met with Tinubu after the primary where all issues were resolved. Osinbajo is a party man and will support any decision of the party,” one of his aides said.
Apart from Osinbajo other presidential aspirants did not show up, a situation some people said has presented the party with a very difficult situation on how to proceed with its presidential campaign which according to the Independent National Electoral Commission, INEC starts on September 28.
The magazine learned that the convener of the meeting and one of the aspirants, Dr. Nicolas Felix had to cancel the meeting at the eleventh hour when he learned that none of the invitees was ready to attend.
“Good day your Excellency. Please be informed that the strategic meeting of 2023 presidential aspirants of the All Progressives Congress (APC), scheduled to hold on Wednesday the 31st of August has be postponed.

“A new date for the meeting will be communicated soon. Apologies for any inconvenience(s) that this might cause. Stay blessed,” Felix said in a text message seen by the magazine.
The Source magazine learned that some of the aspirants are still nursing the wound of their defeat from the June primary, and have decided to adopt the ‘siddon look’ approach to the election.
It was also learned that those of them who had earlier taken their defeat on their strides and promised to work for the party are now angry that they are not being carried along by the presidential candidate team, even though some of them have been named in the Presidential Campaign Team headed by President Muhammadu Buhari.
“Some APC governors are even angry with him for not consulting them before he picked former Governor Kashim Shettima as his running mate. Many of these governors are from the North West who believed that they should produce the vice president,” a source said.
He explained that “these governors are on the same page with some presidential aspirants who have decided to play the spoiler for the party in next year’s election”.

Ayu Calls Camp Wike  Children; Will Not Allow Any  Individual To Destabilize Party; Calls Wike’s Bluff; Won’t Resign

By
The Source
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Iyorchia Ayu

By Gideon Njoku

“When we started PDP, these children were not around. They are children who do not know why we formed the Party”

The National Chairman of the Peoples Democratic Party, PDP, Dr Iyorchia Ayu, has called those asking him to step down from office children who do not know the ABC of why the Party was formed. He said they were children who do not know anything about the Party.

Ayu spoke to the BBC Hausa Service on the seeming crisis in the Party and the calls for him to step down from office.

The Governor of Rivers State, Nyesom Wike, who is leading a Camp in the Party, has allegedly been asking for Ayu to step down as a pre-condition to any peace talk.

The relationship between Wike and the Party has been frosty since after former Vice President Atiku Abubakar, defeated Wike  at the Presidential Primary to clinch the PDP ticket. The relationship worsened when Atiku picked Delta State Governor, Dr Ifeanyi Okowa, as his running mate instead of Wike who was expectant.

Every effort made to make peace between Atiku and Wike has apparently been rebuffed by Wike who has been openly romancing Presidential candidates of other Parties, and making statements unbecoming of a Party faithful, and what could be called anti-party. According to the allegation, the argument of Wike’s Camp is: Since the Presidential candidate is from the North, the Party Chairman should be from the South, especially, as the Chairman Board of Trustees  is, also, from the North.

But on Wednesday, Ayu, in the interview with the BBC Hausa Service called Camp Wike’s bluff. He said he would neither resign, nor would the Party  allow any individual to destroy it. He said Atiku’s election as the Presidential candidate has nothing to do with his own election as the National Chairman of the Party. “I was elected to a four-year tenure, and I have not even done one year yet”, Ayu told his interviewer.

He said even if he stepped down, those calling for him to do so would not step into his shoes.

Ayu: “I didn’t commit any offence, I’m only reforming the Party so I am not bothered by all these noises. I know I’m doing my job, and I didn’t steal any money, so I see no reason for all these talks.

“When we started PDP, these children were not around. They are children who do not know why we formed the Party. We will not allow any individual to destabilize our Party.”

For the records, Wike was instrumental to the removal of the immediate past Chairman of the Party, Prince Uche Secondus, from office before the end of his tenure. Incidentally, Wike was, also, instrumental to his election as National Chairman. But they soon fell apart with Wike describing Secondus as incompetent, and the later insisting that Wike wanted to run his office for him.

Both men are from Rivers State. The current Chairman, Dr Ayu, is from Benue State.

Imo: Three Wedding Guests Missing; Whereabouts Unknown

By
The Source
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By Charles Igbo

Three wedding guests, all young men, are missing in Imo State.

The three attended the wedding from their Owerri homes to Isiala Mbano on Sunday, August 28, 2022. As at Wednesday when their disappearance became public, they had not returned, and no contact has been made of their whereabouts.

They are identified as Alaefula Chimuru, Madu Promise, and Victor Chibuike.

Their worried families have reported their sudden and inexplicable disappearance to the Police but that has brought no comfort or hope.

They had gone to the wedding in a grey coloured Lexus RX 330, and left for their Owerri homes thereafter. But they are yet to be home three days after.

Fortune Madu, a sibling of one of them, Madu Promise, confirmed the story to the Punch Correspondent in Owerri. He said: “They left a wedding ceremony at Isiala Mbano on Sunday, and didn’t get back home. Up till now, we have not seen them. Their phone numbers are permanently switched off. We have sent then messages on their social media handles, and no reply. We have reported to the Police.

The questions are: In whose custody are they? Were they abducted by hoodlums for ransom? And if so, why have the hoodlums not contacted their families three days after? Were they arrested by the Police, seeing that they are young people, traveling in a Lexus RX 330? Are they alive or dead?

On Wednesday, Theodore Uba, an Activist/Journalist, issued a statement on the mystery surrounding the disappearance of the three young men.

The statement reads: “This is to inform the general public that these three young men whose pictures appear below have been declared missing.

“The three young men with names: ALAEFULE CHIMURU COLLINS, MADU PROMISE AND VICTOR CHIBUIKE, who are based in Owerri, Imo State, attended a wedding ceremony in Isiala Mbano LGA on Sunday 28th August 2022 with a grey colour Lexus RX 330, and have been unable to return back to their respective homes from the event.

“Efforts to reach them through their social media devices and social media handles prove abortive. None of their family members has been able to figure out their current location up till now.”

He said a search has been launched for them and a report made to the Police Criminal Investigation Department, CID, Owerri, for their intervention.

The Imo State Police Command has not issued a statement on the incident yet.

If INEC Is Fair, Nigerians Will Be Surprised At The Outcome Of 2023 Elections  – Wike

By
The Source
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By Charles Igbo

In a clear allusion to the speculations that he and his Camp are not likely to vote for Atiku Abubakar, the Presidential candidate of the Peoples Democratic Party in the 2023 Presidential election, Governor of Rivers State, Nyesom Wike, has revealed that Nigerians will be shocked at the outcome of the oncoming elections.

Both Atiku and Wike are of the same Political Party, PDP.

Speaking on Wednesday, August 31, 2022, at the Ikwerre Local Government Area of the State, where he flagged off the construction of Igwuruta Internal Roads, Wike said if the Independent National Electoral Commission, INEC, will be fair and transparent, a shock awaits Nigerians in 2023. He added: “Rivers votes are not for free.A day will come when Rivers people will  take a decision on what to do.”

The Governor whose relationship with Atiku has remained fractured since the former Vice President beat him to a second place during the Party’s Presidential Primary, and chose Delta State Governor, Dr Ifeanyi Okowa as his running mate, in his stead, Wike has left tongues wagging over who he would support in the Presidential election. He has boasted that wherever he goes, Rivers State goes.

To lose the State in a Presidential election is a big deal.

Apparently in response to the National Chairman of the Party, Dr Iyorchia Ayu, who referred to those who want him to step down as children who do not know why the Party was formed, Wike said he would do the bidding of Nigerians not that of individuals who are in the minority.

He said nobody can threaten him, and that Nigerians would “soon know some of these characters.” Wike and his Camp are asking Ayu to step down from office as the National Chairman because the Presidential candidate is of the same North as Ayu. Ayu had, also, allegedly, promised to step down if the PDP Presidential candidate is a Northerner. He has since reneged on that promise, insisting on his four-year tenure.

Wike: “Time will come when Nigerians will know these types of characters; characters that will say all kinds of things because of power; characters that will be agents to destroy their own people. They should take one day fasting and pray for their forgiveness because from what I have seen, they are almost doomed.

“There is no amount of threats that will make me betray my people. I won’t do that. What I have said today is what I will say tomorrow. Go and check our history. We are not known for being betrayers, at all.

“Some people threatened that they are former Generals, they are close to the CIA in America; they can deal with us. I say, listen, no problem. If you are close to America’s CIA, why didn’t you use it to solve the the Boko Haram problem? Nigeria has a serious problem, and you are linked to the CIA, why not use that contact and solve Nigeria’s problem?

“You want to use it to threaten me. Who are you? I should come and do your own bidding? I will not do that. I will do the biddings of Nigerians, not the bidding of a few individuals who believe that if they are not there, it must be their children, no other person should come up. I will not do that. A day shall come, and Rivers people will take a decision on what to do.”

It is not known the people, the Generals, who are threatening Wike with the CIA when, according to him,  they are not able to tackle Boko Haram with the CIA. Wike did not reveal their identities.

However, according to a political analyst, “he is not referring to Atiku because Atiku is neither a General, nor has anything to do with the American CIA.”

You Can’t Get 25% of Votes in Most States, PDP Mocks APC

By
The Source
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0

The Peoples Democratic Party has said that the ruling  All Progressives Congress, APC, is not capable of getting 25 per cent of votes in most States in the oncoming 2023 General elections.

Aside from winning majority votes, the would-be-winner of the Presidential election, is expected to get, at least, 25 per cent of the votes in two-thirds of the 36 States of the Federation and Abuja.

But in a Press Statement on Wednesday, signed by its National Publicity Secretary, Debo Ologunagba, the PDP cited the mammoth crowd that welcomes its Presidential candidate, Atiku Abubakar, as a prelude to the failure that allegedly awaits the APC in 2023.

The Party also claimed that it has taken over  Buhari’s Campaign Office in Katsina, thus  signaling the collapse of APC.

President Muhammadu Buhari is from Katsina State.

Following is the full text of the statement

“The Peoples Democratic Party (PDP) admonishes the failed All Progressives Congress (APC) not to bother to campaign in the 2023 general elections as the APC cannot secure the statutory 25% of votes in most States of the country.

“The mammoth crowd that greets PDP’s rallies including the recent rallies in Kano and Katsina States are clear messages to the APC that they have been rejected by the people and have no foothold in the 2023 general elections.

“The fact that Nigerians from all walks of life in Kano State, the political, commercial nerve center of the North and national melting point, defied the rain in massive show of solidarity to the PDP and our Presidential Candidate, Atiku Abubakar, underscores their determination to break through all barriers and return the PDP to power in 2023.

“The current mass exodus from the APC into the PDP as being witnessed in most States including President Muhammadu Buhari’s home State of Katsina highpoints the consensus by Nigerians that the APC has irredeemably failed and that the PDP remains the only vehicle to rescue and rebuild the country from misrule of the APC.

“The takeover of President Buhari’s campaign office by the PDP in his home Katsina State following the defection of critical APC stakeholders in the State, signals the surrender of the APC and its structure to the PDP in President Buhari’s supposed strongholds.

“Nigerians have seen through the lies and falsehood of the incompetent, rudderless, insensitive, divisive, bloodthirsty and terrorism-enabling APC that has brought nothing but misery, economic hardship, hatred, unprecedented disunity and bloodletting to our nation in the last seven years.

“Nigerians have seen the APC in its true identity; a Special Purpose Vehicle (SPV); a pirate ship of inchoate sailors and strange bed fellows clobbered together for remote personal gains, not for governance and public good.

“This is more so as the APC presidential candidate, Asiwaju Bola Ahmed Tinubu (BAT); the national leader of the failed APC government is no match to PDP Presidential Candidate, Atiku Abubakar, who has established his capacity to lead our nation out of the wood where Asiwaju and his failed APC plunged her.

“From all indications, under a credible, free, fair and transparent electoral process, the APC cannot secure the statutory 25% of votes in most States across the country.

“Our Party therefore admonishes the APC not to bother to campaign in Kano, Katsina, other States of the north and of course in other geo-political zones of the country as Nigerians have already aligned with the PDP to return our nation to the path of unity, national cohesion and economic prosperity.

“The PDP commends the former Governor of Kano State, Mallam Ibrahim Shekarau and millions of other well-meaning Nigerians for their patriotism in rallying on the platform of the PDP to rescue our nation from the stranglehold of the vicious APC.

“The PDP urges all Nigerians of goodwill not to be deterred but remain hopeful and join forces on the platform of the PDP to resist the shenanigans and manipulations of the APC ahead of the 2023 general elections.”

The Presidential election will hold in February 2023.

Amnesty International Lied – DSS; Warns Peoples Gazette

By
Adesina Soyooye
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By Adesina Soyooye

The Department of State Services, DSS, has dismissed as lies, from the pit of hell, a report by the Amnesty International, AI, which claimed that the Service, under this administration, engages in the abduction of innocent Nigerian citizens.

The report which was carried by an online publication, Peoples Gazette, took not a few people who know how much the Service has done to abort several high profile abductions in the country, and how much it has risked its personnel to gather information and secure the release of hundreds of abducted Nigerians.

While reacting to the publication, DSS Spokesman, Dr. Peter Afunanya, said nothing could be further from the truth.

Said the statement: “The attention of the Department of State Services, DSS, has been drawn to a false publication by an online newspaper, Peoples Gazette, in which it quoted Amnesty International (AI), as stating that SSS abduct innocent Nigerians under the Buhari regime.

“Whether reported by Peoples Gazette or Amnesty  International, the Service outrigjtly denies this misleading narrative. It does not abduct Nigerians.

“As part of its enforcement activities, the DSS arrests when, where, and if necessary. This is evidently carried out in line with democratic ideals.

“At no time has the Agency embarked on its actions without following laid down procedures in respect of obtaining warrants of arrest or orders of detention from competent legal authorities. The claim of abduction, or use of enforced disappearances, is an absolute lie and a make-up narrative designed to bring the Service to disrepute.

“The DSS is law abiding, and committed to the protection of citizens and sensitive government installations. In doing this, it will continue to discharge its mandate of intelligence collection and timely dissemination of same  to relevant action agencies and stakeholders.

“Public attention should, however, be drawn to the deliberate and determined efforts of the Publisher of Peoples Gazette, Samuel Ogundipe, to use his platform to undermine law and order. He is known to have, on several occasions, engaged in distorted publications to disinform the public. He and his cohorts are hereby warned, for the umpteenth time, to desist from these deplorable acts against the peace and security of the nation. It is time for Ogundipe and the likes to choose reason over fatuity; and patriotism over treachery. Their continous mischievous resolve to use fake news and hate speech to set the country on fire is condemnable.

“Media Practitioners in the country should rise above parochial considerations, sanitise its fold, and fish out quacks among them. The Media can also peer-review and embark on self censorship as part of achieving professionalism in the industry.

“They must reject the allure of enticement by external forces to use them to instigate violence or undermine government and its institutions. Otherwise, those who run foul of the law must be ready to face justice now or in the future.

Recall that the DSS by its intelligence gathering, had uncovered several plots to undermine and embarrass the Country. Unfortunately, a number of the information the Service gives to relevant action Agencies are ignored until they are late.

The most recent, among others, are the Abuja-Kaduna bound Train attack, and the invasion and attack on Kuje Prisons, Abuja.

Sadly no heads have rolled, the promises to punish those who neglected their duties notwithstanding. It has been business as usual.

Fidelity Bank Posts Impressive Half Year Results, Profit Hits N25.1bn

By
Tosin Olatokunbo
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Leading financial institution, Fidelity Bank Plc, has released its H1 2022 results recording a remarkable 21.6 per cent growth in profit to N21.6 billion as well as decent growth in most key metrics.

According to the report released on the Nigerian Stock Exchange, NGX on Tuesday, 30 August 2022, the bank grew Total Deposits by 13.1 percent YTD to N2,290.1 billion from N2,024.8 billion in 2021FY, driven by double-digit growth in low-cost deposits. Low-cost deposits increased by 26.1 percent YTD to N1,902.4 billion and now represents 83.1 percent of total deposits from 74.5 percent in 2021FY, which explains the drop in funding cost.

“We are delighted with our H1 2022 performance which showed strong growth across key performance indices. With improved efficiency and customer experience around our network, customer transactions have grown considerably as we optimize our balance sheet and build up a large stock of stable low-cost deposits”, stated Fidelity Bank’s CEO, Mrs. Nneka Onyeali-Ikpe.

Gross Earnings increased by 37.9 percent YoY to N154.8bn on account of 52.9 percent growth in interest income to N136.2 billion from N89.1bn in H1 2021. The increase in Interest Income was driven by improved yield on earnings assets and 14.9 percent YTD expansion in earnings base to N2,546.5 billion.

Similarly, Net Interest Margin improved to 6.4 percent from 4.7 percent in 2021FY, due to a combination of improved yields on average earning assets and a decline in average funding cost. Average yields on earning assets increased by 211bps YoY to 11.5 percent while average funding cost declined by 84bps to 4.0 percent YoY, which resulted in 50.4 percent growth in net interest income to N75.6 billion.

The release of the half year results coincides with the bank’s recent announcement on expanding to the United Kingdom with its proposed purchase of Union Bank UK.
Commenting on the proposed acquisition, Onyeali-Ikpe said: We recently executed a binding agreement for the acquisition of 100.0 percent equity stake in Union Bank UK Plc in line with our strategic objectives and business expansion drive. Union Bank UK offers a compelling synergy we hope to build on, to create a scalable and more sustaining service franchise that will support the wider ecosystem of our trade businesses and diaspora banking services.

On the back of the positive H1 2022 performance, the board of fidelity bank approved an interim dividend of 10k per share, making it the first time the bank will pay an interim dividend in its 34 years history.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions, BAFI Awards.

2023: Obasa Urges Focus On Need For Good Governance, Not Muslim-Muslim Ticket

By
Akinwale Kasali
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0
Mudashiru Obasa

By Akinwale Kasali

The Speaker of Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has urged the electorate to focus on the need for better governance.

Obasa implored Nigerians to shun religious sentiments that include Muslim-Muslim or Christian-Christian tickets, and focus on the betterment of Nigerians, growth and development of the Nation at large.

Obasa gave the charge on Wednesday at the 14th Annual Hijrah Lecture organised by Lagos State House of Assembly.

Corroborating the view of the Speaker were the Guest Speakers at the event which included popular Islamic Cleric and Chief Imam of Offa, Kwara State, Sheik Muyideen Salman Husayn; Hon. Justice Abdurraheem Ahmad Sayi, a Kadi of Sharia Court of Appeal, Kwara State; and Sheikh Ishaq Mustapha Zuglool Sunuusi, Head of Academics, Daru Dawah Wal Irshad Arabic Centre, Isolo.

According Mr Speaker, even though it has been argued that religion and politics are intertwined, it has been noted that religion has never been a determinant in the development of many countries that are currently doing great.

“All over the world where democracy is being practised, it has been established that good governance is not really determined by their religions. In countries like India, Singapore, China and most of the democratic states in Asia and some other parts of the world where neither Islam nor Christianity is being practised, it is gratifying to note that good governance is seen all around them.

“Even here in Africa before the advent of both Islam and Christianity, we had good and steady democratic setting with our traditional beliefs. It is now worrisome, however, that we allow religion to dictate to us how democracy should be practised,” Obasa said.

He argued that the spiritual core of democratic governance is the obligation to serve the people with godly principles and noble objectives.

“People should understand that whoever will be fair, just and is visionary, who can look back and identify good people to form a team with, in order to achieve success is someone who should be of concern to us in a democratic state to  lead, not religion.

“There is no doubt that Nigeria is at a most precarious phase in its existence as a nation. These are indeed trying times for Nigeria and Nigerians. We should focus more on how the failure of politics and faith has compromised the unravelling of the Nigerian project.

“Therefore, at this time when Nigeria stands at its most critical juncture in history regarding next year general elections, there is a crucial call for religious bodies to deploy their collective spiritual energies in not only undermining the negative forces of nepotism and dysfunctionality, but in positively enhancing the development of Nigeria.

“Whether the political party contesting is running on Muslim-Muslim ticket or Christian-Christian ticket and otherwise, our focus should be the good intentions of the contestants. Let us not allow any politician to bamboozle us with religion as a determining factor for who we will choose as our leaders.

“In fact, as enshrined in the Constitution of Nigeria being a secular state, there is no provision for the elevation of a particular form of religion over another, let alone which one should be in charge of the government. Instead, what we have is freedom of religion,” he added.

On his part, Justice Sayi said the primary role and responsibilities of religious leaders is to teach, guide, educate and emancipate the minds of premodial sentiments like tribalism, nepotism and the rest that affect the minds.

“Message of unity and humanity should take the lead of what should come out of religious houses, whether churches or mosques. Religious leaders should know that God has created us equally and they should also know that nobody has been created superior. The first most important responsibility of pastors and Imams is to lead the people to virtue,” he said.

In his own lecture, Sheikh Sunuusi, noted that Islam urges co-habitation and co-operation with others for the benefit of the society.

“Islam says we should not cheat any other person,” he said as he punctured the arguments of those against Muslim/Muslim ticket with how situations had sprung up Christian-Christian governments in the past.

Explaining the idea behind the topic, the chairman of 14th Hijrah lecture, Hon. Adams Noheem Babatunde, said it had become imperative for religious leaders to tread softly and preach unity.

“This is not the time for teachings that would polarise us. We expect people of influence to always emphasise peace and unity at all times,” he said.

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