A call has been made for accelerated scale-up of efforts to prevent malaria and save lives under the Malaria To Zero Initiative programme at the grassroots in Nigeria and Africa.
Access Bank, Private Sector Health Alliance of Nigeria and Hacey Health Initiative said this at a community sensitisation programme organised under the Malaria To Zero initiative for Mushin residents.
No fewer than 1000 Long-lasting insecticide Treated Nets [LLINs] were distributed at the event.
“Owing to the mortality rate attributed to malaria, the grassroots remains the under-served communities that need to be reached due to the high burden of malaria cases recorded in communities, due to their inability to afford long lasting insecticide treated nets to help the prevention of malaria,” Omobolanle Victor-Laniyan , Head of Sustainability of Access Bank Plc said.
Also according to Dr. Muntaqa Umar Sadiq, CEO, Private Sector Health Alliance, one of the major sponsors of the initiative, noted that there was need to establish an innovative financing platform to compliment efforts from the government and target the root causes of under-performances in the fight against malaria.
“Despite significant investment in the health system, we are yet to see commensurate results in terms of outcomes. Current programmes are inadequate and we need to do things differently. We need to be more innovative and rethink our intervention. We have had issues with data and complex governance arrangements,” Sadiq stated.
“Some other African countries such as Morocco, Sri Lanka and Kazakhstan have been able to achieve zero malaria deaths. Why Nigeria can’t be put towards that part of zero malaria?” he noted.
The Oba of Odi Olowo, Mushin, Fatai Irawo, who led other traditional and community leaders to the event, thanked the sponsors for enlightening his people and advised them to use the nets in their homes to ensure that malaria becomes a thing of the past for members of the community.
The traditional head added that in over 10 years, he is yet to see a more successful health promotion programme in Mushin as Malaria To Zero.
Tag: Access Bank
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Access Bank, groups urge scale-up of anti-malaria campaign
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Access Bank gets new Deputy Managing Director
The Central Bank of Nigeria (CBN) has approved the appointment of Mr. Roosevelt Ogbonna as the new Group Deputy Managing Director of Access Bank Plc. He replaces Mr. Obinna Nwosu who recently resigned his appointment to pursue other personal endeavours.
Ogbonna began his illustrious banking career as an investment banker 20 years ago. Over the years he has worked across the treasury, risk management, commercial and corporate banking functions at leading financial institutions.
Ogbonna joined Access Bank in 2002 and during this time, implemented strategies across different divisions that increased market share and more than doubled the group’s balance sheet.
Prior to now, Ogbonna served as Divisional Head, Commercial Banking and subsequently rose to the position of Executive Director, Commercial Banking, Access Bank, a position he held since October 2013. In that capacity, he oversaw firm-wide banking operations and formulated strategies to optimize the Bank’s robust commercial business.
Roosevelt holds a BSc. in Banking & Finance (Second Class Upper) from The University of Nigeria, Nsukka, and is a Fellow of the Institute of Chartered Accountants of Nigeria. He is an alumnus of the Senior Executives Fellows program at Harvard University’s Kennedy School of Government and has attended various Executive Management Development programs at leading global institutions including the Institute of Management Development (IMD), The Wharton School of Business, and INSEAD.
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Access Bank: Stronger fundamentals, improved returns
Access Bank Plc is proving to be a stock to hold at all times. Against the nation’s economic recession and the depression at the stock market, the bank is on a growth trajectory that continues to deliver better returns to shareholders. Capital Market Editor, Taofik Salako, reports on the inextricable link between the bank’s operational performance and share pricing trend.
Access Bank Plc’s share price ended 2016 with a full-year capital appreciation of 21 per cent, ranking among few stocks with such highly contrarian performance in a year marked with general depreciation in share prices and relapse of the national economy into recession. The benchmark indices at the Nigerian stock market indicated average full-year decline of 6.17 per cent, equivalent to net capital loss of N604 billion, continuing the losing streak that had seen equities losing N1.75 trillion and N1.63 trillion in 2014 and 2015 respectively. Only 19 companies, including three banks, recorded capital gains of 20 per cent and above in 2016, representing about 12 per cent of total listed equities. The Nigerian Stock Exchange (NSE) Banking Index, which tracks banking stocks listed on the Exchange, recorded a modest full-year gain of 2.2 per cent in 2016, driven mainly by gains by Access Bank, Guaranty Trust Bank and United Bank for Africa.
In the first quarter ended March 31, 2017, all key indices at the Exchange closed in the negative, underlining the widespread share price depreciation that marked the period. The benchmark index for the Nigerian stock market, the All Share Index (ASI), showed a three-month average return of -5.05 per cent. The NSE Banking Index closed the first quarter down by 0.03 per cent. The NSE 30 Index, which tracks the 30 most capitalised companies at the stock market, declined by 4.93 per cent within the period. Access Bank continued to play a major contrarian stock in the first quarter with above average return of 6.98 per cent.
Fundamental link to pricing
In line with the requirements at the NSE, which require quoted companies to submit their audited full-year reports not later than three months after the end of the year, Access Bank, ahead of the deadline in early March, released its audited report and accounts for the year ended December 31, 2016. With steady growths in key performance indices in 2016, the first tier bank increased dividend payout by 18 per cent to N18.8 billion. Shareholders would be receiving gross dividend of N18.8 billion for the 2016 business year as against N15.9 billion paid for the 2015 business year. Shareholders would receive a final dividend per share of 40 kobo in addition to an interim dividend per share of 25 kobo, bringing the total dividend per share for the 2016 business year to 65 kobo. The bank had paid a total dividend per share of 55 kobo, including a final dividend per share of 30 kobo and interim dividend per share of 25 kobo, for the 2015 business year. The bank has started paying the 2016 dividend on March 29, 2017, the same day the dividend was unanimously approved by ecstatic shareholders at the annual general meeting of the bank in Lagos.
Key extracts of the audited report and accounts showed that gross earnings rose by 13 per cent while pre and post tax profits grew by 20.4 per cent and 8.5 per cent respectively. Group gross earnings rose from N337.40 billion in 2015 to N381.32 billion in 2016. Profit before tax also rose from N75.04 billion in 2015 to N90.34 billion in 2016. After taxes, net profit rose from N65.87 billion to N71.44 billion. The balance sheet of the bank also emerged stronger with total assets rising to N3.48 trillion by December 2016, 34 per cent increase on N2.59 trillion recorded in 2015. Customer deposit also rose from N1.68 trillion in 2015 to N2.09 trillion in 2016. Shareholders’ funds improved by 23 per cent from N363.9 billion in 2015 to N448.2 billion in 2016.
Access Bank’s growths in recent years appear not to be a fluke. Over a five-year period, the bank has consecutively grown key profit and loss and balance sheet items. Total assets have risen consistently from N1.75 trillion in 2012 to N1.84 trillion, N2.10 trillion, N2.59 trillion and N3.48 trillion in 2013, 2014, 2015 and 2016 respectively. Customers’ deposits have grown consecutively from N1.20 trillion in 2012 to N1.33 trillion in 2013 and subsequently to N1.45 trillion, N1.68 trillion and N2.09 trillion in 2014, 2015 and 2016 respectively. Shareholders’ funds have grown from N241.28 billion in 2012 to N244.5 billion, N277.4 billion, N367.8 billion and N454.5 billion in 2013, 2014, 2015 and 2016 respectively.
The same uptrend is noticeable in profit and loss performance. Gross earnings rose from N197.08 billion in 2012 to N206.9 billion in 2013 and subsequently grew to N245.4 billion, N337.4 billion and N381.3 billion in 2014, 2015 and 2016 respectively. Pre-tax profit dipped marginally from N46.53 billion in 2012 to N45 billion in 2013 and thereafter rose consecutively to N52.02 billion, N75.04 billion and N90.34 billion in 2014, 2015 and 2016 respectively. Profit after tax followed the same trend, slipping from N39.33 billion in 2012 to N36.37 billion in 2013. Net profit thereafter rose consecutively to N42.4 billion in 2014 and N65.87 billion and N71.44 billion in 2015 and 2016 respectively. The bank has maintained unbroken dividend payment trend, reflecting improving earnings in returns to shareholders.
Positive reviews
Analysts have hailed the performance of the bank, noting that it surpassed expectations. “All in all, we find Access Bank’s results healthy. The underlying results were broadly in line with our expectations, even after tax. The capital adequacy of the bank is sound at 21.2 per cent,” FBN Capital stated in early reactions to the 2016 results of the bank.
According to FBN Capital, in the current environment of heightened risk for the banking sector, the results have shown that Access Bank should be trading higher than its current valuation at the stock market.
“Although the shares are among the best performing year-to-date, following their strong performance in 2016, with appreciation of 21 per cent against decline of 6.2 per cent by the benchmark All Share Index (ASI), we expect to see further gains over the rest of the year,” FBN Capital stated.
Exotix Partners said Access Bank’s earnings were above expectations, although the global investment and finance company remained cautious about the outlook.
Shareholders, who spoke at the recent annual general meeting, applauded the resilience of the bank and its ability to sustain impressive returns in spite of the tough operating environment.
Shareholders’ leader and founder, Independent Shareholders Association of Nigerian (ISAN), Sir Sunny Nwosu, described the bank’s performance as remarkable, noting that the increase in dividend payment was an indication of the strong fundamentals of the bank.
Another shareholder, Mr Nonah Awoh, also commended the bank and urged the management to further focus on deposit as a major boost to the bank’s revenue.
The next growth phase
The board and management of Access Bank said they believed enough solid foundations have been laid for the bank to move to the next phase of its strategic growth agenda. Chairman, Access Bank Plc, Mosun Belo-Olusoga, said the bank has, with its performance over the years, proven its resilience as its responsiveness and agility became key drivers of strong and sustainable performance in an increasingly unpredictable operating environment.
She said the board would continue to provide the stability and strategic direction the bank requires to deliver operational excellence, assurring shareholders that the bank would remain focused in its pursuit of enhancing shareholders’ value as it strives to become the world’s most respected African bank.
The management of the bank has already outlined a three-point priority for the 2017 business year as it winds down on its five-year strategic plan and begins preparations for another five-year plan.
Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, said the bank would focus on three major priorities in 2017 as it concludes its third five-year strategic plan this year.
He outlined that the bank would, in the new business year, cement its position as a dominant corporate bank and establish itself as a formidable retail bank.
He added that the bank would also leverage digital technology and innovation to create value for its customers while unlocking new revenue streams.
Wigwe said the third topmost priority of the bank in 2017 would be to deliver seamless and superior customer experience across all its service touch points.
“2017 marks the end of the rolling five-year strategy implemented in 2013. Plans for the next five-year phase have begun in earnest to position the group not only as the world’s most respected African bank but also as an emerging global player,” Wigwe said.
According to him, by diligently executing its strategy, the bank would continue to maintain improved profitability and create the capacity to continue to invest in its key areas of strength.
“I am confident that achieving these goals will set the stage for the execution of our next corporate strategic plan. As we look ahead, we remain more confident than ever of our execution capabilities to achieve our vision of being the world’s most respected African bank,” Wigwe said in a summary outlook.
In all these, where will Access Bank be in the next few years? Most analysts believe that with one of the most professional management in the industry and a highly knowledgeable and proactive board, Access Bank is on course to consolidate its growth over the next medium-term plan.
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Access Bank lists priorities for 2017 as shareholders applaud N18.8b dividend
Access Bank Plc has outlined a three-point priority for the 2017 business year as shareholders commended the board and management of the first tier bank for its resilient performance and dividend payout. About N18.8 billion was paid out for the 2016 business year.
The bank’s Group Managing Director, Mr. Herbert Wigwe, said the lender would focus on three major priorities in 2017 as it concludes its third five-year strategic plan this year.
He outlined that the bank would in the new business year cement its position as a dominant corporate bank and establish itself as a formidable retail bank, adding that the bank would also leverage digital technology and innovation to create value for its customers while unlocking new revenue streams.
According to Wigwe, the third topmost priority of the bank in 2017 would be to deliver seamless and superior customer experience across all its service touch points.
“2017 marks the end of the rolling five-year strategy implemented in 2013. Plans for the next five-year phase have begun in earnest to position the group, not only as the world’s most respected African bank, but as an emerging global player,” Wigwe said.
To him, by diligently executing its strategy, the bank would continue to maintain improved profitability and create the capacity to continue to invest in its key areas of strength.
“I am confident that achieving these goals will set the stage for the execution of our next corporate strategic plan. As we look ahead, we remain more confident than ever of our execution capabilities to achieve our vision of being the world’s most respected African bank,” Wigwe said in a summary outlook.
Meanwhile, at the bank’s annual general meeting in Lagos, shareholders unanimously approved the recommendation of the board to distribute N18.8 billion for the 2016 business year as against N15.9 billion paid for the 2015 business year. Shareholders will receive a final dividend per share of 40 kobo in addition to an interim dividend per share of 25 kobo, bringing the total dividend per share for the 2016 business year to 65 kobo. The bank had paid a total dividend per share of 55 kobo, including a final dividend per share of 30 kobo and interim dividend per share of 25 kobo for the 2015 business year.
Key extracts of the audited report and accounts of Access Bank for the year ended December 31, 2016 showed that gross earnings rose by 13 per cent while pre and post tax profits grew by 20.4 per cent and 8.5 per cent respectively. Group gross earnings rose from N337.40 billion in 2015 to N381.32 billion in 2016. Profit before tax also rose from N75.04 billion in 2015 to N90.34 billion in 2016. After taxes, net profit rose from N65.87 billion to N71.44 billion.
Shareholders, who spoke at the general meeting, applauded the resilience of the bank and its ability to sustain impressive returns in spite of the tough operating environment.
Shareholders’ leader and founder, Independent Shareholders Association of Nigerian (ISAN), Sir Sunny Nwosu, described the bank’s performance as remarkable, noting that the increase in dividend payment was an indication of the strong fundamentals of the bank.
Another shareholder, Mr Nonah Awoh, also commended the bank and urged its management to further focus on deposit as a major boost to the bank’s revenue.
In her address to shareholders, Chairman, Access Bank Plc, Mosun Belo-Olusoga, assured shareholders that the bank would remain focused in its pursuit of enhancing shareholders’ value as it strives to become the world’s most respected African bank.
She said the bank has, with its performance over the years, proven its resilience as its responsiveness and agility became key drivers of strong and sustainable performance in an increasingly unpredictable operating environment.
She assured that the board would continue to provide the stability and strategic direction the bank requires to deliver operational excellence. -
Etisalat Nigeria dispels rumor on takeover by Banks
The Head of Public Relations, Etisalat Nigeria, Ms Oluseyi Osuntedo, on Thursday dispelled the rumor that banks had taken over the company.
Osuntedo told the News Agency of Nigeria (NAN) in Lagos that talks were still ongoing between the banks and the company.
She said that the company was not being picketed as rumored by some people, adding that whoever was giving the information was not telling the truth.
“Discussions are going on; nobody is taking up the company.
“It is not true that we are being picketed, whoever gave the information is not telling the truth,” she said.
A NAN correspondent who visited the company’s Head Office at Banana Island also confirmed that the scenario at the office was calm and business going on as usual.
NAN reports that Etisalat on March 8 was reported to have been taken over by three banks because of their alleged N541.8 billion debt.
Despite the intervention of the Nigerian Communications Commission (NCC) to broker a peaceful resolution between Etisalat Nigeria and a consortium of banks, it appears the effort may not have yielded a truce.
It said that the consortium of some foreign and Nigerian banks, including Guaranty Trust Bank, Access Bank and Zenith Bank, have been having a running battle with the mobile telephone operator, over a loan facility totaling $1.72 billion (about N541.8 billion) obtained in 2015.
NAN reports that the loan, which involved a foreign-backed guaranty bond, was for Etisalat to finance major network rehabilitation and the expansion of its operational base in Nigeria.
However, Etisalat failed to meet its debt servicing schedule, agreed since 2016, for which they were reported to the banking sector regulator, the Central Bank of Nigeria, and its communications sector counterpart, the NCC.
Etisalat was said to have blamed its inability to fulfil its obligation to the banks on the current economic recession in Nigeria.
The banks said their attempt to recover the loan by all means, was fueled by the pressure from the Asset Management Company of Nigeria (AMCON), demanding an immediate cut down on the rate of their non-performing loans.
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NAN also reports that NCC appears not to be favorably disposed to the takeover proposal, as it believed that Etisalat is not only a viable going concern, but also willing and able to negotiate the servicing of its loans.Etisalat is Nigeria’s fourth largest telecoms operator, with about 21 million subscribers as at January 2017, according to the NCC.
The company commenced business in Nigeria in 2009.
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MD Access Bank Ghana recognised
Chief Executive Officer of Access Bank Ghana, Dolapo Ogundimu, has been voted the Most Reputable Ghanaian Bank CEO in a ranking poll led by South African based Reputation Management Agency, Reputation Poll and leading PR and Rating Agency, Avance Media.
The ranking poll which featured all 34 distinguished leaders of Class 1 Banks in Ghana, had Mr. Dolapo Ogundimu emerging the Most Reputable Bank CEO with by 17 per cent of votes from the over 3000 voters who participated in the polling exercise.
Ogundimu, who has schooled at both Harvard and Columbian Business School pioneered Guaranty Trust Bank to become one of the most successful banks in the industry before his appointment in 2012 as Managing Director of Access Bank Ghana.
Emerging second in the poll was Ms. Patience Akyianu, MD of Barclays Bank Ghana who also earned the leading spot among the only four female bank CEOs in Ghana alongside Marufatu Abiola Bawuah of UBA Ghana who took the overall seventh position.
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Obasanjo, Wigwe, Terraz unite against HIV/AIDS in Nigeria
By Adenike Fagbemi
It is no longer news that there is need to have an urgent, coordinated and sustained response to combat HIV/AIDS in Nigeria. This, can only be result-driven when there are early government-led efforts that seeks to help coordinate public and private sector activities as well as the arrival of significant international funding.
In a bid to hasten intervention and prevent explosion of HIV/AIDS in the country, the Nigeria Business Coalition Against AIDS ((NIBUCCA) would be inagurating Co-chairs that would help pave way for assistance and grants to organizations engaged in activities connected with the furtherance of rehabilitating people with HIV/AIDS related cases.
The inauguration will hold on Thursday, 16th February, 2016 at Skyline Terrace, Oriental Hotel, Victoria Island, Lagos and would have in attendance former Nigerian Army General and former President of Nigeria, Chief Olusegun Obasanjo as the guest of honor.
To be inaugurated as co-chairs of NIBUCCA are; the Current CEO and Group managing director of Access Bank, Herbert Onyewumbu Wigwe and Managing Director and Chief Executive of Total, Mr. Nicolas Terraz.
It is apt to note that the urgency in efforts to address the devastating global impact of HIV/AIDS is of high importance and relevance to businesses as well as economic growth, thus, opportunities to make major inroads against the infectious disease, are being featured at dinner cum inauguration ceremony dedicated exclusively to HIV/AIDS.
Organised by Nibucca and sponsored by Access Bank, Nibucca represents the voice of the Nigerian private sector response to HIV and AIDS on the premise that businesses have collective leadership role to play in the wide multi-sectoral response to the pandemic and other related ailments.
The dinner seeks to bring political leaders, advocates, health workers, top notch business men and woman as well as intellects from the Civil Society Organisations to address the policy, scientific, and advocacy components of efforts to expand and speed the global AIDS response.
As well as bring together experts to collaborate, partner and in return advance knowledge and innovation on curbing the spread of HIV/AIDS, promote and share best practices to reinvigorate the response as well as galvanize political leadership and commitment to end the prevalence of the cankerworm.
Although first two cases of HIV and AIDS in Nigeria were identified in 1985 and were reported at an international AIDS conference in 1986. In fact, a 2015 report by The Joint United Nations Programme on HIV/AIDS (UNAIDS) and the National Agency for the Control of Aids (NACA) says, “Nigeria has the second largest HIV epidemic in the world.1 Although HIV prevalence among adults is remarkably small (3.1%) compared to other sub-Saharan African countries such as South Africa (19.2%) and Zambia (12.9%), the size of Nigeria’s population means 3.5 million people were living with HIV in 2015”
The idea behind the inauguration as well as the committee structure is basically to stand in gap for the voiceless as far as HIV/AIDs is concerned as well as build formidable team that would inspire further advocacy intervention, thereby, bringing the effect of the menace to nothing in the society.
The Nigerian Business Coalition Against AIDS (NiBUCAA) is a Business Membership Organization (BMO) established on February 15, 2003, as the voice of the private sector response to HIV and AIDS in Nigeria. NiBUCAA was set up to position the private sector in capitalizing on their unique strengths and proficiencies to HIV program areas and mitigate the impact of HIV and AIDS in the workplace and society in general. NiBUCAA was put together on the premise that businesses have collective leadership roles to play in the multi-sectoral response to HIV and AIDS, led by the National Agency for the Control of AIDS (NACA).
The Coalition believes the workplace represents a very good assistance; platform where information on prevention, care and support programmes can be disseminated.
“Our collective effort, like any other national business coalition elsewhere, is geared towards reversing the trend of the HIV epidemic, mobilizing and empowering businesses to take effective steps on HIV and AIDS within and outside the workplace.” NiBUCCA portal states.
In other words, NiBUCCA strives to help members in their individual and collective efforts to lessen the effect of the horrendous impacts/burdens even as the organized business environment offers a unique opportunity to engage millions of employees and empower them with the capacity to address the growing challenges. -
Access Bank Lagos City Marathon: Army contingent gets promotion, cash
The Nigerian Army contingent at the just concluded Access Bank Lagos City Marathon 2017, has been rewarded with promotions and cash prize of N150,000 each.
The Army team surpassed its performance in the last edition in an event that featured world class marathoners and accomplished athletes.
The Director, Army Public Relations, Brigadier General Sani Usman, said in a statement that in view of the achievement, and to encourage them, the Chief of Army Staff, Lieutenant General Tukur Yusufu Buratai, has directed their elevation to the next higher rank respectively and donation of cash gift of N150,000 to each of the athletes.
Usman said: “This year, the first soldier to arrive, Private Auwal Hudu, came 10th overall, within 2hrs 45mins, while Private Raymond Nanribet took 12th position and arrived within 2hrs 46mins. Private Sanusi Husamat was number 13 and has the timing of 2hrs 48mins. Private Danjuma Stephen took 14th position and arrived within 2hrs, 56mins.
“Others were Private Gyang Dalyop, who was 15th position overall, and within 2hrs 58mins, Lance Corporal Gyang Yakubu, 17th position within 2hrs 59mins and Private Muplang Luwadet was 18th person to arrive within 3hrs 3mins.
“Among the female fielded athletes, Private Hannah Adewale was the first to arrive and took 8th position among all the female marathoners with a timing of 3hrs 52mins, while Private Naomi Yunana was number 9th, with a timing of 3hrs 56mins, Corporal Eunice Waje came 10th and made it within 3hrs 58mins, while Private Lange Rose took 11th position overall with a timing of 3hrs 59mins.”
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Access Bank sells pension stake to Stanbic IBTC
Access Bank Plc has sold its 17.65 per cent equity stake in Stanbic IBTC Pension Manager Limited (SIPML) to Stanbic IBTC Holdings Plc, the majority shareholder of SIPML.
Access Bank at the weekend confirmed the sale of its equity stake in SIPML, stating that it had secured all necessary regulatory approvals for the sale.
Access Bank’s share price rose by 4.99 per cent to N6.94 at the Nigerian Stock Exchange (NSE) as investors responded at the weekend to the inflow of the extraordinary, non-operational income. However, Stanbic IBTC Holdings’ share price simultaneously declined marginally by 0.06 per cent to N17.80 per share.
The divestment was in continuation of the sale of the non core banking businesses of Access Bank in compliance with the Central Bank of Nigeria (CBN)’s new licensing regime. In 2010, the CBN repealed universal banking licences and issued the Regulation on Scope of Banking Activities & Ancillary Matters, No. 3 which became effective on November 15, 2010; prohibiting banks from undertaking non-banking activities.
The regulation classified banking into three categories including commercial banking, merchant banking and specialised banking. Following this, Access Bank had opted to operate as a commercial bank with international authorisation and thus the need to divest its equities in its non-banking subsidiaries.
Four banks including Stanbic IBTC, First Bank of Nigeria, First City Monument Bank and Ecobank Transnational Incorporated had chosen to form holding companies to hold their non-core banking businesses.
Access Bank had in furtherance of the divestment earlier unbundled and distributed the bank’s equity stake in Wapic Insurance Plc to shareholders of the bank in proportion to their equities in the bank.
According to the scheme of arrangement for unbundling and distribution of Access Bank’s 4.88 billion ordinary shares of 50 kobo each in Wapic, shareholders of Access Bank received proportionate equities in Wapic based on their shareholdings in the bank. The distribution was based on a determined allocation ratio of 4.69.
The number of the scheme shares that each shareholder was entitled to was calculated by dividing the number of his shareholding in Access Bank by the allocation ratio.
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Okpekpe Road Race organiser hails Ambode, Access Bank
Organiser of the Okpekpe 10km international road race, Mike Itemuagbor has congratulated Lagos State Governor, Akinwunmi Ambode and Access Bank for successfully hosting the second edition of the Access Bank Lagos City Marathon last Saturday in Lagos.
“I congratulate Governor Ambode for promising and delivering a world class marathon and Access Bank for sponsoring the event,” said Itemuagbor whose race, the Okpekpe 10km international road race is the first and so far only road race in Nigeria to get an International Association of Athletics Federations (IAAF) label. I am particularly delighted that the second edition of the Lagos Marathon was a remarkable improvement on the first edition and hope subsequent editions would even be much better,” he further said and harped on the health implications of running.
“Health they say is wealth. A healthy nation will definitely be productive and by extension prosperous. And experts have not ceased to emphasise on the benefits of exercising to the body. By organising this marathon, the governor is not only promoting sports and tourism in Lagos state but also ensuring he governs over a healthy community of people.”
Itemuagbor also hopes Governor Ambode will strive to take the marathon to the next level by making it the first full marathon in West Africa to get an IAAF label.
“That will make Nigeria the only country in Africa to have two IAAF label races. With the conclusion of the second edition of the Lagos Marathon, organisers of the event can apply for a bronze label for the race and I am confident their application will be favourably considered.”
Meanwhile, the fifth Okpekpe 10km international road race will hold on Saturday, May 13 in Okpekpe, Edo State.