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Unity Bank Grows 34% Pre-tax Profit, Records N23B Gross Earnings in H1 2021 – Naijanewsdirect

  Nigeria’s retail lender, Unity Bank Plc has declared half-year result posting gross earnings of 23.6 billion Naira, which is a 3% increase compared with the corresponding period of 2020. A review of the unaudited half year result (H1’2021) released to the Nigerian Stock Exchange, the Agric-focused lender showed notable improvement across key financial matrices. The Bank grew bottom-line by 34% as Profit before Tax (PBT) moved up significantly in positive territory to close at N1.50 billion from N1.12 billion recorded in H2 2020.   Similarly, the Profit After Tax, PAT closed at N1.38 billion within the period under review from N1.03 billion recorded in the corresponding period of 2020, a sign of a stronger recovery in the overall economy and the Bank’s key focus market segment after a disruptive pandemic year. A major highlight of the result is the growth in the Bank’s loan book, which saw a 22% increase to N246.90 billion within the period compared to N202.08 billion recorded in H2 2020.   The lender also sustained growth trajectory in its assets as total assets for the period rose by 11% to N547.37 billion from N492.02 billion as of December 31, 2020. Other highlights of the financial statement include a 21% jump in fee and commission income to N3.07 billion from N2.54 billion in the corresponding period of 2020; and N9.87 billion upticks in net interest incomes, representing a 9% increase from the N9.06 billion recorded in the corresponding period of 2020.   Interest and similar income also rose though recording a marginal 2% growth to close at N20.27 billion compared to the N19.79 billion recorded in half-year 2020. Earnings per share rose by 3 kobo to close at 11.82 Kobo within the period compared to 8.82 Kobo recorded in the corresponding period of 2020.   The financial report also contained the details of the three months to June

Quintessential Journalist, Kunle Rasheed Pulls The High and Mighty To His 50th Birthday Shindig! – Naijanewsdirect

  ...Why He Will Remain A Big Shot In The Comity Of Socialites and Society Reporters For top journalist and cerebral Kunle Rasheed, it’s been five decades of God’s kindness in his earthly adventure. Sociable and man-about-town, Kunle Rasheed, threw a party to celebrate his 50th birthday in grand style on 23rd June, 2021, at the palatial Radisson Blu, GRA, Ikeja, Lagos. It is, however, no shock that the well-planned golden jubilee birthday celebration attracted the crème de la crème of high society, politics and corporate world. The celebrator, Kunle Rasheed, is a man of many parts. He mingles in high profile circles. Described as a bubbly personality, Kunle Rasheed is a man of grace and poise who has scored many first, both in academics and career. He read Insurance from the Lagos State Polytechnic, he also did short course on Creative Writing at London School of Journalism, and at present he is running a programme in Law at the prestigious Lagos State University (LASU), Ojo, Lagos. A member of League of Publishers (LOP), and Association of Online Media Practitioners of Nigeria (AMPON), Kunle Rasheed is the publisher/Editor-in-Chief of City Rovers Magazine and the online version, cityrovers.net. The magnificent Radisson Blu played host to high-flying guests from all walks of life ranging from society bigwigs, prominent politicians, celebrities and successful business moguls. A book written by the celebrator titled “Without A Silver Spoon” was coincidentally launched on the day of the birthday celebration. The 207 pages book chronicled the lives of 50 top Nigerians who rose from nothing to something. Global Excellence Magazine publisher, Mayor Akinpelu wrote the foreword of the book, while legal luminary and former national legal adviser of the All Progressives Congress (APC), Dr Muiz Adeyemi Banire (SAN) was the Chairman of the occasion. As expected, the classy golden jubilee birthday celebration was

Who Is Chasing You Out Of Town? Atiku Throws Sarcastic Question At Tinubu (Watch Video) – Naijanewsdirect

  In what appeared to be a chance meeting between former Vice President Atiku Abubakar and All Progressives Congress (APC) national leader, Asiwaju Bola Ahmed Tinubu, at the Nnamdi Azikiwe International Airport Abuja on Friday night, both politicians threw banters at each other to the amazement of their aides and onlookers. Atiku returned to the country from Dubai, UAE, after a long absence from the country while Tinubu was apparently trying to catch a flight to his Lagos base at night when both ran into each other. According to a video obtained by LEADERSHIP which depicts the account of the encounter, Atiku was already in his vehicle ready to be ferried away when some people, who appeared to be aides of the former vice president sighted Tinubu and they approached him to inform the APC chieftain of their principal’s presence.   Tinubu was subsequently ushered to where Atiku’s vehicle was parked and the latter on sighting the former Lagos State governor approaching his direction, alighted from the vehicle to exchange pleasantries with Asiwaju. The following conversation ensued between an excited Atiku and Tinubu: Atiku: Ehn, Asiwaju, where are you going this night. Dem dey drive you from town? Tinubu: No o o! I am going back to Lagos. Atiku: I just came in… Tinubu: Why are you late? Atiku: Late, am I late coming? I left Dubai what time, this afternoon. It’s a seven-hour flight. Tinubu: When are you coming (to Lagos)? Atiku: When you invite me, I come. If you don’t invite me, I don’t come. Tinubu: (Fainted voice)? Atiku: Tomorrow (Saturday) I am going to Yola….I will come around sha (to Lagos) at least to greet some people who have been bereaved. Tinubu: God bless us (walks away). Atiku: Amin o.   However, when this reporter contacted Atiku’s spokesperson, Paul Ibe, late Friday night, he denied the chance meeting of both political heavyweights. “Which airport? I am not aware,” Ibe

Full Text Of Communique Issued By The NBA At The End Of Her Public Interest Annual Conference Held At Jogor Centre, Ibadan – Naijanewsdirect

COMMUNIQUE ISSUED BY THE NIGERIAN BAR ASSOCIATION (NBA) SECTION ON PUBLIC INTEREST AND DEVELOPMENT LAW (SPIDEL) AT THE END OF HER PUBLIC INTEREST ANNUAL CONFERENCE WHICH HELD AT JOGOR CENTRE, IBADAN, OYO STATE ON THE 23RD – 26TH MAY, 2021 ON THE THEME: THE ROLE OF PUBLIC INTEREST IN GOVERNANCE IN NIGERIA   PREAMBLE The Section on Public Interest and Development Law (SPIDEL) is the 3rd Section established by the Nigerian Bar Association. SPIDEL signposts NBA’s commitment to promote the rule and application of law to economic development and growth of public interest Law in Nigeria. Its vision is to make public interest and development law a fundamental aspect of national life and development; to promote development and practice of public interest law and litigation and to ensure access to effective remedies for victims of violations of the law and abuse of power. At the Conference, there were lead presentations from eminent speakers, senior members of the Bar, the academic, the political class, critical stakeholders and other renowned jurists. Speakers at the Conference discussed issues surrounding the imperatives of Public Interest in Governance, internal security as a prerequisite for national development; the Legality and efficacy of Public Inquiry by State Governments; the Role of the Office of the Public Defender; Sustainable Development Goals, Third Party Data Capturing for National Identification Numbers Project, paternity fraud in Nigeria etc.   OBSERVATIONS Following the presentations, the Conference observed the following: a. The disconnect between a large segment of the legal profession and the ideals of public interest lawyering, owing to the obvious gaps in the legal education curriculum; b. The current federating structure of the Nigerian State is clearly unwieldy and the debilitating situation is clearly seen in the spate of security crises in the country. c. The lack of local laws and an administrative structure for the administration of stolen funds in a

FirstBank Appoints Shobo MD/CEO As Adeduntan Retires – Naijanewsdirect

The Board of First Bank of Nigeria Limited at its meeting today, 28th of April, 2021 as approved the appointment of Mr. Gbenga Shobo, currently Deputy Managing Director, as the Managing Director/CEO designate of the bank.   This decision is subject to all regulatory approvals. Gbenga succeeds Sola Adeduntan, who will be leaving the bank accordance with the bank’s term limit for its Chief Executives, after successful leading the bank since January 2016. These decisions will take effect from today, 28th April 2021.   In announcing the appointment, Mrs Ibukun Awosika, Chairman, FirstBank of Nigeria limited explained: “We are proud to announce Gbenga Shobo as our new MD/CEO. His appointment as Deputy proven the resilience of our succession planning mechanisms and the value we place on our long-stand corporate governance practices, which underpin the institution’s enduring sustainability and 127-year legacy.   Gbenga has had a successful career in the bank and elsewhere, culminating in his appointment as Deputy Managing Director (DMD), in 2016 prior to his appointment as DMD, he was the Executive Director overseeing the Retail Banking/Public Sector businesses in the Lagos & West Directorate.   As part of his responsibility for Retail Banking, he has been instrumental in developing and growing the bank’s Agency banking business, which today, is the market leader in Agency Banking, leveraging partnerships and best-in-class technology and bringing banking services to millions of unbanked and underbanked customers in Nigeria and across various countries where we operate through our Africa subsidiaries.   The Board is confident that Gbenga has the experience and understanding of the bank and the know-how to lead the Bank through this next phase of growth, which is focused on positioning FirstBank as the preeminent bank in our chosen markets, delivering value to our stakeholders.   Also appointed today is Abdullahi Ibrahim as Deputy Managing Director, while Mr. Inu Ebong, Mr. Segun Alebiosu, Mr.

FirstBank Raises The Bar In New CEO Appointment, Others – Naijanewsdirect

  The appointment of Mr. Gbenga Shobo as new Managing Director/CEO designate of First Bank Nigeria Limited on Wednesday by the Board of Directors of the Bank has been commended by industry stakeholders who said with the appointment, the Bank will no doubt raise the bar in delivery of financial services to its teeming customers.   Recall that the Board of Directors of the Bank, at its meeting on Wednesday, while announcing Shobo’s appointment, said the decision has proven the resilience of its succession planning mechanisms and the value the Bank places on long-standing corporate governance practices, which underpin its enduring sustainability.   Industry stakeholders while welcoming the appointment, praised the Bank for the smooth transition, adding that with his wealth experience, the new Managing Director/CEO designate will take the Bank to greater heights. They commended the Board of the Bank for the visionary role it continues to play in ensuring that the institution remains the industry leader.   Speaking on the development, an Ibadan based legal practitioner, Mr. Olawale Toyin, said the Board of the Bank by the appointment of Shobo has kept faith with succession tradition it set in place some years ago, adding that Nigerians expects nothing short of excellence from the foremost financial institution in the country.   He stressed that having been part of the top management of the Bank, the new CEO will not only continue the good work left behind by the immediate past Managing Director/CEO of the Bank, Dr. Sola Adeduntan, but will improve on it.   A Stockbroker, Nnamdi Ajuzie, while stressing that Shobo’s appointment will surely rub off positively on FirstBank having garnered experience over the years courtesy of the top management positions he held prior to his latest appointment, traced the success recorded by the banking giant to the quality of persons on its board which he described as exceptional personalities. According

Shocking Details Of How Baba Ijesha allegedly Defiled My Child – Comedienne, Princess Speaks As She Shed Tears (Watch Video) – Naijanewsdirect

A whole lot of people might not know that the 14-year-old girl allegedly raped by popular Nollywood Yoruba actor, Olarenwaju James, popularly known as Baba Ijesha is famous Comedienne, Princess’s adopted child. However, the heartbroken Princess on Wednesday, April 28th, 2021 took to her Instagram page, soaked in tears and dropped some shocking revelations. She said; “After the crash of my marriage, some parents allowed about six children in number to live with me so I would not be lonely. I was also helping Baba Ijesha while taking care of the children.” “It was during one of his visits to my house that he molested one of the three girls living with me. The defilement had an adverse effect on the child as she began to decline academically and otherwise.” “After seven years, the girl told me and someone else what Baba Ijesha did to her after she saw him in a movie. I called him for a meeting in the house where I set up a CCTV camera where he was captured trying to molest the girl again.” “I left the house and told him to relax I’ll be back soon, immediately I left he searched my house to see if anyone was in aside the girl and later proceeded to defile her.” “I can’t even disclose the things he did while I was monitoring on my phone but immediately I saw her stand up to the kitchen where there was no camera I and the police entered the house and arrested him.” “I queried Baba Ijesha, demanding why he did such a thing to her and he confessed ‘It was the Devil’.” “I call out those who are accusing me of trying to tarnish his image. I wondered why people will demand that the video of minor being molested be shared to the public.” See also the video

Support Businesses Seeking Expansion, CBN Urges Banks – Naijanewsdirect

The Central Bank of Nigeria (CBN) has urged commercial banks to leverage their presence in other parts of Africa to support Nigerian businesses seeking to plant their footprints into new markets. The CBN Governor, Mr Godwin Emefiele, gave the advice at the Zenith Bank’s 2021 Export Seminar on Tuesday in Lagos. Emefiele called on the commercial banks to support them by providing trade facilities to those with strong potential for growth. He said that the CBN had taken considerable steps to improve the productive capacity of businesses, which would enable them take advantage of export opportunities in Africa. “Our intervention programmes in the agriculture and manufacturing sectors, are helping to enable businesses expand their scales of production, which is meeting growing domestic demand for goods, but also providing goods for the export market. “In addition, we have set up a N500 billion non-oil export stimulation facility with the Nigerian Export Import Bank. This initiative will also help to enable greater exports of processed agriculture commodities into other markets in Africa and in the global market,” Emefiele said. According to him, improving the business environment in Nigeria is also vital if we are to harness the gains from the Africa Continental Free Trade Agreement (AfCFTA). He also said the apex bank through its Trade Monitoring System (TRMS) portal was helping to reduce the time it would take to complete the export documentation process. Emefiele said that faster turnaround time could help to reduce delivery time for goods destined for exports and enable businesses expand their output. He said: “Today, businesses can complete their NXP applications on the TRMS portal in 30 minutes relative to two years ago, where it can take as much as two weeks to complete the process.” The CBN governor said the apex bank was working with stakeholders to reposition the Nigerian Commodity Exchange to support greater trade

Compulsory Covid-19 Test: Tuface Accuses NCDC Officials Of Extorting, Frustrating Travellers – Naijanewsdirect

Nigerian singer, Innocent Ujah Idibia, popularly known as “2baba” has called out the Nigerian Center For Disease Control, NCDC, for frustrating travelers. Recall that the Federal Government earlier made the COVID-19 test compulsory component for travelers following the pandemic. Following the development, there have been complaints from Nigerians who lamented the inefficiency of the NCDC workers to deliver prompt services to travelers. In a related development, 2baba in a video via his Instagram account on Wednesday, lashed out at the Agency for frustrating him and other travelers who had important errands and business dealings to do. The singer complained bitterly, adding that after requesting for such a huge amount like 50 thousand Naira from travelers, the NCDC officials are nowhere to be found even when they know people travel every second. “NCDC you people better wake up because you’re causing serious problems and hardship for people traveling. “You keep requesting for ransoms and codes from travelers, yet your workers are nowhere to be found even when they know that people travel everyday. “Agency that knows that people travel every second will close, even when they are called nobody answers. “It’s ridiculous that the NCDC compulsory COVID19 arrival test portal collects N50k per passenger and fails to deliver QR code. “Passengers are stranded at the airport, business and personal commitments messed up. “This NCDC scam and extortion must stop because this is wickedness and its very frustrating,” he said.

FirstBank Launches A New Corporate Website, Reiterates Its Commitment To Service Delivery Excellence – Naijanewsdirect

FirstBank, Nigeria and indeed West Africa’s premier financial inclusion services provider has announced the launch of its newly designed website at https://www.firstbanknigeria.com/.  The new website is upgraded with features that are streamlined to reinforce its role in delivering seamless banking and technology solutions to its customers across the world.   The website is configured with modern design and improved functionality that eases customer experience whilst carrying out various activities on the site, including electronic banking. Non-customers are also able to open an account, putting them at an edge in the industry as they establish a relationship with the Bank that puts YOU, its customers, First.   The new website seamlessly adopts a fresh, magazine-style look and feel for easy navigation in order to promote the access to essential information for its customers, FirstMonie agents, prospective agents and the public. This upgrade also guides one to make well-informed decisions about one’s personal, business and private financial needs.   Dr. Adesola Adeduntan, CEO of FirstBank Group, while speaking on the launch of the New Corporate Website, said that “as one of the key contact points to existing and potential customers, the Bank’s website remains a gateway to our business, supporting our unique value propositions and financial services solutions. As such, we are committed to continuously improve the overall user experience through intriguing content quality, exciting features and ease of navigation’’.   He further noted that “the Bank’s new website will be updated on a regular basis with exciting features that will continue to reinforce the Bank’s resolve to promote digital customer interactions and transactions across our virtual touchpoints and platforms’’.   Concluding, he remarked that ‘’the website will also serve as a financial services library that will keep customers and the public abreast of various financial services solutions and offerings, thereby helping them to improve their economic and social wellbeing’’. He encouraged

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