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President Bola Ahmed Tinubu joined the Muslim Faithful across the country for the Eid-el-Fitr prayers on Wednesday, April 10.
The prayers were held at the Dodan Barracks Eid prayer ground in Obalende, Lagos.
He was joined at the prayer ground by the Deputy Governor of Lagos State, Obafemi Hamzat; the Minister of Blue Economy, Gboyega Oyetola; former Minister of Works, Babatunde Raji Fashola, and the Private Secretary to the President, Hakeem Muri-Okunola, among others.
37-year-old Simon Harris emerged as Ireland’s youngest ever prime minister on Tuesday, April 9, while pledging to bring new ideas.
Harris replaces Leo Varadkar who abruptly quit last month citing personal and political reasons.
On Tuesday, Ireland’s parliament voted 88 to 69 in favour of Harris who was then officially installed at a ceremony with President Michael D. Higgins.
The centre-right Fine Gael party selected Harris as its leader following an uncontested election after Varadkar resigned but the young politician faces key elections within months as well as domestic pressure to tackle crises over housing and opposition to migration.
Harris told parliament:
“This is very much a partnership government and I intend to lead us in the spirit of unity, collaboration and mutual respect,” he said, watched by his wife and two children.
“I want to bring new ideas and new energy and, I hope, a new empathy to public life. Time is certainly short, and there’s a lot to do,” Harris added.
Varadkar quit last month saying that at the age of 45 he no longer felt he was the “best person” to lead the country. Varadkar, the youngest prime minister when first elected in 2017, said Tuesday said he “always knew” Harris would fill the top job.
“This has perhaps come a little bit sooner than he might have planned or expected. But I know he will rise to the occasion,” Varadkar said.
“He has the empathy, energy, experience, campaigning skills and political antenna to take us forward.”
Harris joined the youth branch of Fine Gael at the age of 16 and quickly rose through its ranks.
A county councillor at the age of 22, he was elected to parliament in 2011 as a 24-year-old.
At the time he was the youngest MP and was nicknamed “Baby of the Dail” (Irish parliament).
He was appointed health minister in 2016 aged just 29 and higher education minister in 2020.
Also, Harris’ prominence on social media, especially TikTok, has made him one of the most visible politicians in Ireland.
A South African Electoral Court has cleared a former president, Jacob Zuma, to contest the upcoming election.
In a judgement delivered on Tuesday, April 9, the court upturned the decision made by South Africa’s Independent Electoral Commission, SAIEC, last month, barring Zuma from contesting elections.
SAIEC had barred Zuma from contesting the forthcoming elections due to his criminal record.
In 2021, Zuma was sentenced to 15 months of imprisonment for defying a court order to appear before a judicial commission.
The probe was centred on corruption allegations in government and state-owned companies during Zuma’s presidential term from 2009 to 2018.
However, in a brief court order, the electoral court said an appeal by Zuma and his party was successful, noting that the objection against his candidature had been dismissed.
“The decision of the Electoral Commission is set aside,” the court wrote.
Following the clearance, Zuma is expected to run for the presidency on behalf of the uMkhonto weSizwe (MK) party, which he founded last year after leaving the African National Congress, ANC.
The election is set to take place on May 29
The impeached Deputy Governor of Edo State, Philip Shaibu, has begun the process of filing a formal petition against the state’s Chief Judge, Justice Daniel Okungbowa.
Following his impeachment by the Edo State House of Assembly, Shaibu, through the legal representation of B.I. Dakum and Co., has contacted the Chief Justice of Nigeria, Olukayode Ariwoola, for a complaint form.
The request, dated April 8, 2024, comes in the aftermath of the seven-man panel’s investigation into misconduct and perjury allegations against Shaibu, which led to his impeachment.
The panel, constituted by Chief Judge Okungbowa, has faced scrutiny over its procedures and conclusions.
Shaibu’s legal move, articulated in a letter signed by Adaze A. Emwanta, a former Commissioner for Information and Orientation under Governor Godwin Obaseki, alleges that Justice Okungbowa abused his office, engaged in official misconduct, and violated his oath of office.
The letter underscores Shaibu’s intention to formalize these accusations by filing a petition under the Judicial Discipline Regulations 2017.
The letter titled “Re: Notice to obtain a complaint form to file a formal complaint against Hon Justice Daniel Okungbowa, the Chief Judge of Edo State for abuse of office, official misconduct and desecrating his oath of office,” reads in part, “We write as Solicitors to Rt Hon. Philip Shaibu, who until this morning was Deputy Governor of Edo State.
“Rt Hon Philip Shaibu has instructed us to file a formal complaint to your council against Hon Justice Daniel Okungbowa, the Chief Judge of Edo State for abuse of office, official misconduct and desecration of his oath of office.
“The purpose of this letter, therefore, is to formally request a complaint form prescribed under the Judicial Discipline Regulations 2017 to enable our client to file his complaint against the subject Judge.”
A Sallah gift of N10, 000 to all categories of civil servants in the state and local government services has been approved by the governor of Bauchi State, Bala Abdulkadir Mohammed to cushion the economic hardship during the Sallah celebration.
“In his continuing efforts aimed at improving the welfare of the civil servants in Bauchi state, Governor Bala Abdulkadir Mohammed has directed the immediate payment of Ten Thousand Naira (N10,000.00) to all categories of civil servants in both the state and local”, the head of service (HoS), Yahuza Adamu Haruna said.
In a press statement signed by the permanent secretary of establishment, Mohammed Sani Umar and made available to journalists yesterday, he said as a wage award, the gesture would provide additional resources to civil servants to celebrate the Eid-el-Fitr in high spirits, in the wake of the unpalatable economic situation generally.
Adamu expressed gratitude to the governor for his numerous supports and urged the workers to reciprocate the gesture by re-dedicating themselves to their duties with a view to improving and consolidating on the gains made so far.
[Leadership]
The Chairman of Nigerian indigenous carrier, Air Peace, Mr Allen Onyema, has raised the alarm that foreign carriers operating the Nigeria-UK route are allegedly conspiring to send Air Peace out of international operations by crashing airfares on the route.
Onyema gave the revelation on Tuesday while featuring on Channels Television’s Politics Today programme.
He alleged that there is an “unspoken alliance” among foreign airlines to use lower pricing to eject Air Peace from the Nigeria-London route.
“If they take out Air Peace prematurely, this country will pay dearly for it, 10 times over, billions will be lost, there will be another heavy strain on the naira,” he said.
DAILY POST recalls that Air Peace reciprocated the lopsided Bilateral Air Service Agreement (BASA) between Nigeria and the United Kingdom when the local airline began direct flight operations from Lagos to Gatwick Airport in London on March 30, 2024.
Nigeria’s Minister of Aviation, Festus Keyamo and his counterpart at the Trade and Investment Ministry, Doris Uzoka-Anita were onboard the inaugural Lagos-London flight, alongside businessmen and women.
Many industry observers have applauded the development, saying the development will encourage local airlines to commence international flights to profitable routes.
DAILY POST also reported how the price of international flight ticket on the Lagos-London route, which was as high as N3.5m for economy ticket went for N1.2m as Air Peace commenced the London route, with foreign airlines such as British Airways, Virgin Atlantic, and Qatar Airways forced to slash their prices to stay competitive.
However, speaking on Tuesday, the Air Peace boss said foreign airlines operating the route “are fighting back”, adding that his airlines are being “deliberately frustrated in all ways”.
He cited ground handling and space allocation difficulties at Gatwick Airport in the last couple of days.
“It’s a very devilish conspiracy,” said a dissatisfied Onyema.
“All of a sudden, (foreign) airlines are underpricing, below the cost, it’s not up to one month, an airline was advertising $100, another one $305, $350.
“Fill up the entire aircraft and carry people on the wings, it’s not even enough to buy your fuel. So, why are they doing that? Their governments are supporting them because Nigeria has been a cash cow for everybody.
“Their governments are supporting them to do this and take Air Peace out. The idea is to take Air Peace out and the moment they succeed in taking Air Peace out, Nigerians will pay 20 times over again,” he said.
Onyema, therefore, invited other Nigerian airlines to join the Nigeria-UK route to break the monopoly hitherto enjoyed by foreign carriers operating into the four major gateway airports of Lagos, Abuja, Kano and Port Harcourt.
“I invite other Nigerian airlines to join the fray, let them come, let all of us do international operations. Yes, international aeropolitics is very dirty but somebody must pay the price,” he said.
[DailyPost]
- Tinubu, Akpabio, Abbas, governors, CAN, others seek unity in messages
President Bola Ahmed Tinubu yesterday urged Nigerians to rededicate themselves to the collective task of rebuilding the country.
In his Eid-el-Fitr message, he stressed unity and togetherness as critical factors in nation-building.
“We are the sculptor, and Nigeria is the clay; we build it the way we desire,” President Tinubu said.
Also, Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas, governors and the Christian Association of Nigeria (CAN) urged Nigerians to imbibe the virtues of tolerance, sacrifice and peace.
According to a statement by the Special Adviser on Media and Publicity, Ajuri Ngelale, President Tinubu rejoiced with Muslim Ummah, praying that their sacrifices during the Month of Ramadan, and afterwards, will receive the fitting rewards.
It said: “President Tinubu felicitates the Muslim Ummah at Eid-el-Fitr, an auspicious occasion that signifies the end of Ramadan; a hallowed season which reflects total submission to God Almighty and to His command of sacrifice and service to humankind.
“The President greets the Muslim faithful in Nigeria and all around the world, praying that their supplications and sacrifices this season and even after will receive the fitting rewards from Almighty Allah.
“As he emphasised during an Iftar with Nigeria’s leaders of thought and conscience, President Tinubu appeals to all citizens to come together and rededicate themselves to the noble duty of building the nation.
“The President prays that the lessons, blessings, and the joys of this season abide with us always while wishing Nigerians, Happy Eid-el-Fitr celebrations.”
Akpabio seeks peace, unity
Akpabio congratulated Muslims, wishing them Eid Mubarak.
According to a statement by his Special Adviser on Media and Publicity, Eseme Eyiboh, the Senate President urged Nigerians to pray for peace and unity.
It reads: “On behalf of my family, the people of Akwa Ibom North West Senatorial District and indeed the Senate of the Federal Republic of Nigeria, I heartily rejoice with all the Muslims in Nigeria as they join their counterparts in other parts of the world to celebrate Eid El Fitri.
“I wish all of you a peaceful and sweet celebration and pray the Almighty God to grant your heart desires.”
The Senate President urged Muslims to continue to offer prayers for peace, unity and prosperity of Nigeria saying: “Islam is a religion of peace and if its adherents go to God in prayer with sincerity, He will surely answer.
“I, therefore, ask you to pray for your leaders and the peace and unity of our dear country. I believe with your prayers, Nigeria will overcome its current challenges.
“Wherever you find yourselves, radiate the peace that Islam preaches and the love and care for the less privileged that Prophet Muhammad exemplified.”
Abbas calls for patriotism
Speaker Abbas urged Nigerians to imbibe the spirit of patriotism and remain steadfast in their commitment to unity.
The Speaker, in a Sallah statement by his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, also urged Muslims to internalise the lessons learnt from the Holy Month of Ramadan.
He expressed confidence that the Almighty Allah has answered their prayers and supplication.
Abbas enjoined Muslims to be their brother’s keeper and render a helping hand at all times, noting that one of the lessons learnt from the Holy Month of Ramadan was that of assistance to the needy, which every Muslim should imbibe.
He urged the Muslim faithful to continue to pray for Nigeria even after Ramadan is over, noting that a peaceful and prosperous nation equally needs prayers to sustain its blessings.
Abbas said: “We thank Allah (SWT) for making it possible for us to witness the Holy Month of Ramadan peacefully. We pray that He accepts all our acts of Ibadah.
“As we celebrate the Eid-el-Fitr, I enjoin Nigerians, especially Muslims, to offer prayers for the country and our leaders. Let’s also remain united as a people.”
CAN preaches moral rectitude
CAN called on Nigerians to embrace peace and unity.
It said the Eid-el-Fitri celebration should serve as a reminder of the values of compassion, humility, and generosity that form the foundation of shared humanity.
Amid diverse challenges facing the nation, CAN said Nigerians should draw inspiration from the essence of Eid-el-Fitri to foster peace, harmony and progress.
CAN also admonished leaders at all levels of governance to exhibit moral rectitude and ethical leadership in their service to the nation.
A statement by the President, Archbishop Daniel Okoh, said: “CAN extends warm felicitations to our brothers and sisters of the Muslim faith as they celebrate the joyous occasion of Eid-el-Fitri.
“As the Muslim community marks the end of Ramadan, a period of fasting, reflection, and spiritual renewal, we join in recognising the significance of this day and express our solidarity.
“The lessons of Eid-el-Fitri resonate strongly in our quest for a more peaceful and prosperous Nigeria. As we witness the breaking of the fast and the exchange of goodwill among friends and neighbours, let us be reminded of the power of empathy, forgiveness, and understanding in building bridges across religious and cultural divides.
“It is a time to reflect on our common aspirations for a society where justice, equality, and respect for one another prevail.
“In this spirit, CAN calls on leaders at all levels of governance to embody moral rectitude and ethical leadership in their service to the nation.
“Leadership guided by integrity, accountability, and selflessness is essential in steering our country towards a path of sustainable development and unity.
“As we join our Muslim brothers and sisters in celebration, let us recommit ourselves to upholding the values of honesty, transparency, and equity in all our endeavours.
“CAN reaffirms its commitment to promoting interfaith dialogue, understanding, and cooperation for the greater good of our nation.
“Together, let us embrace the diversity that enriches our cultural tapestry and work hand in hand towards a future where peace and prosperity reign supreme.”
Ganduje: support Tinubu administration
The national chairman of All Progressives Congress (APC), Dr Abdullahi Ganduje, urged Nigerians to support the Tinubu administration in its efforts to reposition the country.
He thanked the Ummah for their prayers for the country and President Tinubu throughout the Holy month.
He said: “I’m calling on all Nigerians, irrespective of party affiliations, to support our dear President.
“All discerning minds can attest to the fact that President Tinubu has taken some drastic measures to reposition our economy, which have started paying off.
“All we need now is to support the Federal Government to transform the country.“
Ganduje, in a statement by his Chief Press Secretary Edwin Olofu, urged Nigerians to imbibe the virtue of sacrifice, which is the core lesson of Ramadan.
He said: “Ramadan is indeed a month of patience. We fast for the sake of Allah by enduring hunger and thirst, extending love to all, especially the less privileged in the society.”
Ganduje said Ramadan regenerates the inner being, encompasses love, and sacrifice, adding that lessons must endure beyond the Eid-el-Fitr celebrations.
[TheNtion]
A retired Justice of the Court of Appeal, Ahmad Olanrewaju Belgore, is dead.
The Chairman of the Nigeria Bar Association, Ilorin Branch, Kwara State, Kamaldeen Gambari, announced his death on Tuesday.
“Information reaching me now indicates that Hon. Justice Ahmad Olarewaju Belgore, PCJA (retd.) is dead. May Allah forgive his shortcomings,” Gambari said in a social media post, as reported by Leadership Newspaper.
PUNCH Online was unable to locate the specific social media post referenced by the newspaper.
Belgore retired as the Justice of the Court of Appeal on April 18, 2023, on the attainment of the retirement age of 70.
Meanwhile, in a condolence message, the Emir of Ilorin and Chairman, Kwara State Traditional Rulers Council, Alhaji Ibrahim Sulu-Gambari described the death of Justice Belgore as a big loss to the Ilorin Emirate and nation at large.
The Emir, in a statement by his spokesman, Abdulazeez Arowona, said, “This is a great and colossal loss that has befallen the Ilorin Emirate and humanity at large.
“It is with shock that I received the news of the demise of Justice Ahmad Belgore. He was a complete gentleman, a thorough judicial officer who served the nation meritoriously in various capacities, nationally and internationally.
“He was one of the finest justices that the Ilorin Emirate has ever produced. He contributed in no small measures to the growth and development of the judiciary and humanity in general.
The Emir commiserated with the immediate and extended family members of the deceased as well as the entire people of Ilorin and Nigerians in general.
[Punch]
A date has been fixed for the arraignment of the immediate past governor of the state, Abdullahi Ganduje, his wife, son, and five others, for alleged bribery.
The Kano State High Court fixed April 17, 2024 for arraignment of Ganduje, his wife and son.
Ganduje and the others will be arraigned on eight counts bordering on a $413,000 bribery allegation, diversion, and misappropriation of funds to the tune of N1.38bn, among others.
It was earlier reported that the Federal High Court in Kano ruled that the Kano Public Compliant and Anti-Corruption Commission lacks the power to investigate Ganduje over an alleged $5m bribery video.
Justice Abdullahi Liman, while delivering his judgment, said the offence was a federal offence that could be prosecuted by the Attorney General of the Federation and the Economic and Financial Crimes Commission.
Justice Liman said the Kano anti-graft agency had a limitation in investigating the former governor.
But on Monday, the state governor, Abba Yusuf, urged the EFCC to release the result of its probe into the alleged dollar bribery video involving Ganduje.
Yusuf, in a statement by his spokesperson, Sanusi Tofa, said Ganduje should rather prepare to face his trial instead of talking about non-existent failure in the current administration.
“For whatever option, the Kano State Government would advise the acting National Chairman of APC to show cause why his name, that of his family, and the entire people of Kano should permanently be erased from the global embarrassment that the dollar video has generated,” he said.
However, in a writ of summon sighted by PUNCH Online on Tuesday, the Kano State Government, in a criminal suit, named Abdullahi Umar Ganduje, Hafsat Umar, Abubakar Bawuro, Umar Abdullahi Umar, Jibrilla Muhammad, Lamash Properties Limited, Safari Textiles Limited and Lesage General Enterprises as respondents and assembled 15 witnesses to appear before the court.
The case is fixed for April 17, 2024, before Justice Usman Na’aba of the state High Court Number Four.
Confirming the development to Daily Trust, the state Attorney General, Haruna Dederi, said the case has been filed, and all parties involved will be served accordingly.
“It is very true. We have filed the case but what I cannot confirm is whether he is served or not but he will definitely be served. What he (Ganduje) doesn’t understand is that you cannot run away from the evil day, it will definitely come to you and this will even serve as a deterrence to all of us.
“He was saying that we can’t prosecute him forgetting that the offence also falls under the category of the state offences. It’s not totally a federal affair,” he said.
The Northern Elders Forum, NEF, says Nigerians in the region are regretting their support for President Bola Tinubu in the 2023 election.
The spokesman of the forum, Abdul-Azeez Suleiman made the claim in an interview with Guardian on Tuesday.
He noted that in subsequent polls, particularly the 2027 general elections, the region will prioritize unity and consensus in selecting a candidate for the highest office in Nigeria.
“The North made a mistake in voting Bola Tinubu to the presidency in 2023, and it is unlikely that they will repeat the same error in the future.
“They have learned from their past misstep and will strive to select a candidate who can unite the country and govern in the best interests of all Nigerians.
“Moving forward, the North will be more cautious in selecting a candidate for the presidency. They will prioritize someone who is seen as more inclusive, less controversial, and more aligned with the interests of all regions of the country”, he said.
DAILY POST recalls that President Bola Tinubu of the All Progressives Congress, APC, polled the highest votes from the region to beat his major contenders, including a Northerner, Atiku Abubakar of the Peoples Democratic Party, PDP.
Since his inauguration in May 2023, the president has been widely criticised over some policies of his administration, which were tagged by the opposition as anti-masses.
Tinubu was also accused by Northern groups of lopsided appointments in the federal government.
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The leadership of the Labour Party, on Tuesday, warned the Nigeria Labour Congress against trying to hijack the political platform, saying it lacks the power to sack the Julius Abure-National Working Committee as recently declared.
The party’s response was a reaction to Monday’s resolution taken by the NLC Political Commission at a stakeholders meeting in Abuja.
In a communiqué released after the gathering, the unionists voided the national convention that returned Abure and his NWC members to office.
To fill the vacuum, the stakeholders said the congress will set up a transition committee to oversee the party’s affairs pending when new officers will be elected in three months.
The resolution taken by the NLC also raised concerns on the need to conduct a forensic audit of LP in line with the demand of its presidential candidate, Peter Obi, following allegations of corruption, forgery and fraud levelled against the party leadership.
But the party kicked on Tuesday, saying the congress lacked such power to sack its executives..
This was contained in a statement issued by National Publicity Secretary of the party, Obiora Ifoh, titled ‘NLC, cohorts lack powers to sack legitimate leadership of Labour Party.’
Ifoh described the stakeholder’s meeting as an illegal assembly of a handful of aggrieved former members of the party and some ‘social media tigers’ who are not card-carrying members of LP.
He said, “The Political Commission of the NLC is a front for Comrade Joe Ajaero which he has empowered for his political ambition come 2027. The group is unknown to the Labour Party and as such lacks powers to convene a meeting of ‘stakeholders’ to deliberate, let alone take any decision which will have a binding effect on a legally constituted party leadership.
“The group has been mandated by Ajaero to ensure that crisis in Labour Party festers ahead of 2027 by presenting itself as a rallying ground for dissident former members of our party, who recently lost the leadership battle in the courts. We are also not unmindful of the political pact the leadership of the NLC has gone into with the current All Progressives Congress-led Federal Government to destabilize the opposition.
“This explains why in quick succession all their plots to hijack the party leadership failed. First, it was by illegal picketing of the party when that failed, it attempted to introduce and inaugurate a non-existing Board of Trustees that also failed. Again, the attempted plot to take over the party using stakeholder meetings comprising former members, social media tigers and non-members will fall like a pack of cards.
“It is pertinent to add that Nigerians are suffering under the harsh economic conditions of the current government. Workers and the downtrodden are at the receiving end. As we speak, there are unfair workers’ practices perpetuated by employers but the Nigerian Labour Congress has failed to take proactive roles to fight for the rights of workers. We want to remind Comrade Joe Ajaero that he has a lot of work to do for the Nigerian workers, which he is abdicating to face politics. This is why we previously advised that he should first resign as NLC President if he wants to join politics.”
....Declares N2.30 kobo Final Dividend
....Total Assets Rise by 90.2% to N20.65 trillion
....Shareholders’ Funds Hits N2.0tn, achieving an impressive growth of 120.2%.
In another unprecedented performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023, showing exceptional and impressive performance across all its major indicators.
The 2023 financials, filed by the Bank at Nigerian Exchange Limited (NGx) on Monday, showed an impressive leap in gross earnings, as it grew from N853.2 billion recorded at the end of 2022 to close at N2.08tn; representing a strong 143 percent growth.
The banks’ total assets also rose remarkably by 90.22 percent, doubling the N10 trillion mark, to close at N20.65 trillion in December 2023; up from N10.86 trillion in 2022. This leap remains a very significant achievement and milestone in the history of the financial powerhouse.
Despite the highly challenging global economic and business environment, UBA recorded a laudable profit before tax, with an exponential growth of 277 percent, to close the year under review at N758billion, rising from N201 billion recorded at the end of the 2022 financial year; while profit after tax (PAT) grew by 257 percent from N170 billion in 2022, to N608 billion in the year under consideration.
Consequently, UBA Group Shareholders’ Funds rose from N922 billion as at December 2022 to close the 2023 financial year at N2.0tn, achieving an impressive growth of 120.2%, compared to prior year.
In the year under consideration, UBA Group cost-to-income ratio dropped from 59.2%, in 2022, to 37.2 per cent pointing at the Group’s improving efficiency.
In fulfilment of the promise made by the UBA Group Chairman, Tony Elumelu, to shareholders at the last Annual General Meeting, the Bank proposed a final dividend of N2.30 kobo for every ordinary share of 50 kobo, for the financial year ended December 31, 2023. The final dividend is subject to the ratification of the shareholders during its upcoming annual general meeting (AGM).
Also worthy of note, UBA recorded a 61.3 percent growth in loans to customers, moving up to N5.5 trillion in 2023, whilst customer deposits improved by 90.31 percent to N14.9 trillion, compared to N7.8 trillion recorded in the corresponding period of 2022, reflecting increased customer confidence, enhanced customer experience, successes from the ongoing business transformation programme and the deepening of its retail banking franchise.
Commenting on the results, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said: “I am very pleased with the unprecedented results achieved by our Group in FY2023. The Group made a profit before tax of N758billion, from N201 billion in the prior year. The balance sheet also grew to N20.7trillion from N10.8trillion in the previous year.
He said, “The Group’s shareholder’s funds crossed N2trillion from N922bn in 2022, whilst total assets crossed the N20 trillion mark (90.2% YoY growth). The Group is well positioned for further business expansion in FY2024 having closed FY2023 with Capital Adequacy Ratio of 32.6%.”
He added that the bank’s diversified business model (Pan-African and International strategy) is justified by the contribution of its Ex-Nigeria business to the Group’s results and reinforces its resolve to expand our market share of customers, funding, digital and transaction banking businesses across Africa.
“Driven by our customer service and execution-led delivery model, we will continue to expand our market share and create value for our shareholders and meet the expectations of our various stakeholders,” the GMD stated.
UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the 2023 full year was a particularly eventful year, with galloping inflation and currency depreciation ravaging key markets, amidst pockets of regional conflicts and security challenges.
“I am delighted however at the strong growth in earnings and profitability recoded in the year. The Group conservatively set up significant impairment reserves against its overall risk assets portfolio considering the latent impact of the macroeconomic headwinds on our credit portfolio. Consequently, Cost of Risk grew to 3.09% from 0.63% in the prior year,” Nwaghodoh noted.
On the expectation for the 2024 financial year, he said, “The Group remains fervently committed to sustainable growth and maintaining its strong compliance and risk management practices culture even as we drive our business through the next phase of growth."
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than thirty-five (35) million customers, across 1,000 business offices and customer touch points in 20 African countries. With presence in New York, London, Paris and Dubai, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross-border payments and remittances, trade finance and ancillary banking services.
Ramon Nasir
Head, Media & External Relations
United Bank for Africa Plc
UBA House, 57 Marina, Lagos Island, Lagos , Nigeria
DL: +234-1-2807405 | Ext: 18405
Mobile: +234-7034145044
E‑mail: ramon.nasir@ubagroup.com
Former Vice President of Nigeria, Atiku Abubakar, has submitted that Nigerian Muslims observed the 2024 Ramadan fast in a season of tough economic conditions.
Atiku made the observation in his Eid-el-fitr greetings, in which he congratulated Muslims on the successful completion of this year’s Ramadan fasting.
Despite the tough conditions, he pointed out that the forbearance with which Nigerian Muslims adopted it is a principle that the noble Prophet Muhammed (SAW) enjoins everyone to live by at all times.
He called on those in positions of authority to show compassion to the people.
Atiku also prayed that the supplications of every believing Muslim and everyone else shall be answered by the Almighty Allah and wishes Nigerians a blessed Eid-el-fitr holiday.
The former Vice President, in a press statement by his office on Tuesday, said that lessons of the Ramadan fasting should remain abiding, even when the holy month has passed.
“For many Nigerians who observed the mandatory Ramadan fasting this year, the reality of the harsh economic environment in the country put many families and individuals under intense pressure.
“But in the face of this daunting challenge, many people pulled through out of seeking piety.
“The completion of Ramadan should cause a reflection on those in positions of authority to show more compassion to the people.
“The requirement of forbearance and compassion between the leaders and the people are the lessons to be learnt about this year’s Ramadan, in accordance with the teachings of noble Prophet Muhammad (SAW,)” Atiku said.
[NaijaNews]
The management of Air Peace Airlines, on Tuesday, has dismissed a viral video purportedly showing that the airlines abandoned its passenger at Gatwick Airport in London because its London-Lagos flight was overbooked on Monday.
In a press statement made available to LEADERSHIP, the airlines said the narration was false as the said passenger came late after check-in phase was already concluded and the counter closed.
Air Peace further stated that Gatwick Airport operated slot timings allocated to each of the airlines operating out of the airport.
“Our attention has been drawn to a video circulating on social media that Air Peace not only abandoned their passengers at Gatwick Airport, but closed their counter before closing time because the aircraft was overbooked on our London-Lagos flight on Monday, April 8, 2024.
“This video recording was a deliberate and malicious attempt to tarnish the image of Air Peace. In the video, a number of falsehoods were claimed, specifically: Firstly, we closed our counter before time.
“Secondly, we overbooked our flight and our aircraft was full, hence we quickly closed the door and departed for Lagos. Thirdly, take off time was supposed to be 12 noon.
“We want to state categorically that the passenger, who the narrator escorted to the airport, came very late after check-in phase was already concluded and the counter had closed.
“Gatwick Airport operates by slot timings allocated to each of the airlines operating out of this airport. The check-in operations of airlines are slot-based, and airlines take turns based on their approved times.
“Once your slot timing is up, you must vacate the counters for the next airline’s utilization. The check-in process ends at 09:00am, as advised in the Terms and Conditions section of our e-ticket and website, and the counter was vacated by Air Peace in accordance with our slot allocation at 09:55am.”
The airlines, however, explained that in order for passengers not to miss their flights, messages about flight departure are sent intermittently.
The airlines further stated that it will continue doing its best to meet the needs of all its passengers.
“To ensure passengers do not miss their flights, we send them multiple messages at different times before their flight – 24hrs, 14hrs and 6hrs before flight departure.
“Departure for this flight was scheduled for 11:10am, so all processes needed to adhere to this time.
“It was also claimed that we overbooked our flight. The UK Civil Aviation Authority and the Nigeria Civil Aviation Authority can attest to the number of passengers on our manifest for the said flight. The aircraft left Gatwick with some seats unoccupied, so no overbooking took place.
“Gatwick Airport has CCTV coverage showing the time the passenger arrived at the airport/Air Peace counter and the time the maker of this video got to the airport. The late arriving passenger duly paid the no show fee, was booked to travel on a subsequent flight, and therefore the issue was resolved at the airport. It is disappointing that a different version of what transpired has been circulating.
“Air Peace will continue to do its best to meet the needs of our passengers, but we also require passengers to work with us to ensure they can travel to their destinations by adhering to specified times,” the airlines stated.
[Leadership]