Shareholders of Fidelity Bank on Friday unanimously approved the payment of a total dividend of N3.19 billion declared by the Board of Directors for the financial year ended December 31, 2018.The News Agency of Nigeria reports that the shareholders gave the approval at the bank’s 31st Annual General Meeting held in Lagos.The dividend translated to 11k per ordinary share of 50k held by investors at the close of business on April 12, 2019.Speaking at the meeting, Patrick Ajudua, National Chairman, New Dimension Shareholders Association, commended the board and management for maintaining dividend policy.
Ajudua, however, expressed the need for payment of higher dividend by the bank in the years ahead.He also urged the board to adopt strategies that would enable them to sustain growth and profitability in the industry.Chief Timothy Adesiyan, President of the Nigerian Shareholders’ Solidarity Association, said the bank had maintained steady growth in spite of challenging environment.Adesiyan also commended the bank’s effort in ensuring aggressive loans recovery which impacted positively on its non-performing loan.
“We have a solid bank handled by professionals and our bank is in good hands,” he said.Nnamdi Okonkwo, the bank’s Chief Executive Officer, assured shareholders of consistent and enhanced dividend in future.Okonkwo said the bank had paid consistent dividend in the last 12 years, noting that the trend would be maintained.He noted that investment was for future.He said the current dividend policy was to prepare for rainy days.“We want the bank to be here tomorrow as going concern and we need capital to continue to be strong,” Okonkwo said.
He stated that that bank would continue to invest heavily in technology in order to enhance activities through digital channels.Okonkwo assured shareholders that the management would continue to review staff remunerations to be within industry level.He added that the bank would continue to grow savings deposit, noting that savings deposits doubled in the last five years.Commenting on the bank’s performance, he said: “Our 2018 audited financial statement shows a strong double-digit growth in earning assets, customer deposits and revenues.”He explained that the bank was able to sustain cost discipline with growth in total operating expenses remaining below average headline inflation in 2018.
He said gross earnings increased by 4.8 per cent to close at N188.9 billion primarily driven by 22.7 per cent growth in earning assets, which led to 4.2 per cent increase in interest income to N153.7 billion and 9.2 per cent rise in net fee and commission income to N31.8 billion.Okonkwo said digital banking gained attraction during the year with almost 40 per cent of customers now enrolled on mobile/ internet banking products and 81 per cent of total transactions now done on digital platform.
Also speaking, Ernest Ebi, the bank’s Chairman, assured the shareholders that the board and management focus was to build a very strong bank that they would proud of.Ebi said the bank would remain committed to corporate governance, risk management and strong capital in line with its five year strategic plan aimed at delivering returns to all stakeholders.
On 11k dividend declared, he told the shareholders that the bank needed to provide buffers for economic headwinds to ensure sustainability.The chairman said the bank would some day start payment of interim dividend.
Peace Airline Boss, Allen Onyema To Be Honoured As Lagos Ikeja City Award’s MAN OF PEACE
Mr Onyema Ugochukwu CEO of Peace Airline has emerged the dominant, most respected and most loved personality of 2019 in Nigeria.
We shall be affirming these collective societal endorsement with a great recognition at the 14th edition of the Ikeja City Awards come December 8, 2019.
The secret of these overwhelming outpouring of public goodwill is obviously his undeniable heart of gold!! Which is sign posted by his Practical nationalism, uncommon humanity, kindness and humility.
They are desirable virtues which his exploit in evacuating distressed Nigerians from the xenophobic hellhole of south Africa. This is an unvarnished testimony.
For this reason a special recognition category has been created to recognise him: MAN OF PEACE, LOVER OF HUMANITY AWARD!! With a unique Plaque and ample attestation… We can never over celebrate such rear national ICONS.
Rivers, Imo Teachers Shine As Promasidor Marks World Teachers Day With Special Cowbellpedia Teacher’s Mathematics TV Quiz Show
It was a reversal of roles for teachers last weekend as Promasidor Nigeria Limited, makers of “Cowbell, Our Milk”, marked the 2019 World Teachers Day with special (Teacher’s edition) of Cowbellpedia Mathematics Quiz Show to celebrate the teachers.
The twelve teachers, who produced the finalists in the Junior and Senior categories of the 2018 edition of the competition, contested for honours and prizes.
In the Junior category, Mr Paul Fase of Graceland International School, Port Harcourt, Rivers State, outclassed others with 105 points, to win the star prize. Fase was the teacher of Favour Okarike who emerged as second runner-up in 2018 finals.
On the heels of Fase was Kayode Adebayo, a teacher from The Ambassadors College, Ota, Ogun State who garnered 95 points to emerge as first runner-up, while Godwin Udom, his counterpart from the same school, scored 75 point to become the second runner-up.
Adebayo’s student, Master Akinleye Akinfoluhan was the junior category champion in the 2018 edition while Udom’s pupil, Loluwa Abiodun was a finalist.
Other teachers who also participated in the contest but fell by the way side include Beckley Daniel of Welkin International School, Ota, Ogun State; Hamzat Dankanawa a teacher from Nigerian Tulip International College (Boys) Abuja and David Akuru from Jesuit Memorial College, Port Harcourt, Rivers State.
Fase with a five years’ experience in the teaching profession, expressed gratitude to God for winning, maintaining that he now appreciates what the students are going through. “It is very easy to blame the students for lack of speed and for errors, but I now know it is not that easy,” he admitted.
In the Senior category, Ebock Inah-Ngulu, a teacher from Federal Government College, Owerri, Imo State, got the crown with 75 points. His student, Jessica Austine, was a finalist last year.
Christopher Olasupo of Graceland International College, Port Harcourt, Rivers State and Anfani Egbeyemi of The Ambassador College, Ota, Ogun State came second and third respectively. Olasupo’s student, Chinedu Mgbemena was the 2018 senior category champion, while Egbeyemi taught Enoch Adenekan, a 2018 finalist.
The trio successfully shrugged off the challenge from Oladipo Olatunde of The Ambassador College; Olalekan Olowe from Reality High School, Ilesha, Osun State and Samson Otunubi, a teacher from Federal Government Academy, Suleja, Niger State.
All the teachers commended Promasidor for the initiative which they described as a big morale booster for teachers across the country, adding that teaching requires passion, but teaching Mathematics demands a ‘special anointing’ because of the nature of the subject and the misconception by students and parents.
The students will come back to ‘battle’ this weekend as the semi-finals of the Cowbellpedia Quiz Show continues with 36 students jostling for 12 final slots. The airing also continues on DSTV Africa Magic Family Channel, AIT Network and other six television stations across the country.
Aside the N2 million grand prize, Managing Director of Promasidor Nigeria Limited, Mr. Anders Einarsson disclosed that the winner in each category, (Junior and Senior) will enjoy an all-expense paid educational excursion outside the country at the end of the initiative.
In addition, the first and second runners-up in each category will receive N1.5 million and N1 million respectively, while the teachers of the top prize winners will be awarded N500, 000. Those of the first and second runners-up will receive N400, 000 and N300, 000 respectively.
FirstBank Georgian Cup Hits The Centenary Mark, A Possible World Record In Sports Sponsorship
In furtherance of its commitment to the growth and development of sports, nation building and the economy at large, First Bank of Nigeria Limited has announced its sponsorship of the Georgian Cup of the Kaduna Polo Tournament for the 100th consecutive year, possibly the longest running sports sponsorship in the world and a Guinness Book of Records potential. The 2019 edition of the epoch making sports championship runs from October 12 – 20, 2019 at the Kaduna Polo Club, Murtala Mohammed Square, Kaduna.
The Kaduna Georgian Cup Centenary Polo Tournament commenced in 1919, with FirstBank sponsoring the sports tournament for a 100 years. The Cup which was donated by the Bank to the Kaduna Polo Club, is the oldest and most respected Polo trophy in West Africa.
The 2018 edition of the tournament was won by team El-Amin, also billed to participate in the 2019 edition to defend its trophy, contested by other teams; Rubicon, Imani, Malcomines, Lintex Agad. A total of 45 teams are billed for the 2019 tournament.
Speaking on FirstBank’s unwavering centenary sponsorship of the Tournament, the President, Kaduna Polo Club, Alhaji Suleman Abubakar said “the Georgian Cup Polo Tournament is indeed the Premier Polo Tournament in the country and it has proudly birthed many other sporting events across the country as well as the West African sub region as a whole. We are honoured to record such a milestone with FirstBank since the inception of the tournament 100 years ago.
“Indeed, FirstBank remains a noble brand close to our heart at the Kaduna Polo Club and the tournament has indeed been a catalyst of socio-economic growth of Kaduna and the nation as a whole” he concluded.
FirstBank’s sponsorship of the Georgian cup is perhaps the longest standing sports sponsorship in the world, a reflection of a long-lasting partnership that aligns with heritage, shared values, elite performance and quality, all attributes worthy of celebration. This record sponsorship has been filed by the Kaduna Polo Club for consideration by the Guinness Book of World Records under the longest main sponsorship of a sporting world championship title.
Expressing the Bank’s delight on the sponsorship, the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake Ani-Mumuney said “2019 is indeed an eventful year for us and one of the many high-points since we were founded 125 years ago. Part of our excitement stems from the pride we feel at having supported the Georgian Cup Polo Tournament for 100 years consistently. We are indeed proud to achieve this feat as it reinforces our leadership role as an institution committed to the continued growth and development of sports and the economy at large. The Georgian Cup Polo Tournament is one of the many heritage sporting sponsorships supported by FirstBank over the years. Another example is the FirstBank 58th Lagos Amateur Golf Open tournament, in partnership with Ikoyi Club 1938 holding in November this year which we have also supported for 57 years. We dare say perhaps another record in sports sponsorship”
This unprecedented Polo extravaganza boasts notable players such as Chris Mckenzie, the best South African polo player; Max Charlton, the Best British polo player as well as other top Argentine players in attendance amongst many other professionals.
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