The Nation Newspaper

Tag: declares

  • Zenith Bank declares N9.42b interim dividend

    The board of directors of Zenith Bank Plc has approved distribution of N9.42 billion to shareholders as interim dividend for the half-year ended June 30, 2018.

    The breakdown of the interim dividend indicates a dividend per share of 30 kobo, 20 per cent above 25 kobo paid as interim dividend for the first half of 2017. The bank had distributed N7.5 billion as interim dividend for the first half of 2017.

    Key extracts of the audited report and accounts of the bank for the six-month period ended June 30, 2018 released yesterday at the Nigerian Stock Exchange (NSE) showed 15.3 per cent decline in gross earnings and a modest growth of 8.5 per cent in net profit after tax. Profit after tax rose to N81.7 billion in first half 2018 as against N75.3 billion recorded in comparable period of 2017. Profit before tax rose from N92.2 billion to N107.4 billion. Gross earnings declined to N322.2 billion as against N380.4 billion.

    Zenith Bank had distributed N84.8 billion to shareholders as cash dividend for the 2017 business year, representing 33.7 per cent increase on N63.42 billion paid for the 2016 business year. Shareholders received a final dividend per share of N2.45, in addition to an interim dividend of 25 kobo, bringing total dividend per share to N2.70 for the 2017 business year.

    The bank had distributed N63.42 billion to shareholders for the 2016 business year, representing a dividend per share of N2.02. The increase in dividend payout underlined the improvement in the performance of the bank in 2017.

    Key extracts of the audited report and accounts of Zenith Bank for the year ended December 31, 2017 showed that gross earnings rose by 46.7 per cent from N508 billion in 2016 to N745.19 billion in 2017. Profit before tax increased from N156.75 billion to N203.46 billion. After taxes, net profit rose by 37 per cent to N177.93 billion in 2017 as against N129.65 billion recorded in 2016. Earnings per share thus improved from N4.12 in 2016 to N5.66 in 2017.

  • Court declares Gomez beneficiary of Doherty’s estate

    Justice C. A. Balogun of the Lagos High Court has declared Lagos-based nonagenarian lawyer, Pa Tunji Gomez, as a full beneficiary of the Estate of Chief T.A. Doherty.

    In a separate, but related matter, Justice Wasiu Animahun of the same court also entered judgment in Gomez’s favour in a N5.3million lawsuit.

    Justice Animahun, in a March 19 judgment, ordered the defendants in the suit marked LD/1923/2011, to pay Gomez N5.3million at 15 per cent interest from October 26, 2011 until the final liquidation of the sum.

    The defendants in the suit are Mrs. Lanre Emmanuel and the estate of Chief T.A. Doherty.

    Gomez, 90, had prayed the court to hold that he is a beneficiary of the estate of the late Chief T.A. Doherty pursuant to the “Will and codicil of the deceased, dated 25/05/1964 and 17/06/1974”.

    He claimed that for over 30 years, the four executors of the deceased’s estate, including Emmanuel, had been paying him and his sister along with other beneficiaries until 2004 “when the defendants disbursed N300,000 to each of the beneficiaries but refused to give the claimant his entitlement.”

    Gomez claimed that he was also excluded in 2016 when the estate executors disbursed N5million to each of the beneficiaries.

    In her statement of defence, Emmanuel admitted the existence of the Will and codicil “but denied the claimant as a child or residuary beneficiary or legatee under the Will”.

    But Justice Animahun held that the deceased did not discriminate or make any distinction between his children and Gomez.

    The judge held: “Consequent on the above, I hold that the claims succeed.”

    Justice Animahun ordered the defendants to pay Gomez N5.3million with interest, “within three days”.

    In an earlier suit before Justice Balogun, marked LD/197LMW/2015, Gomez sued the same defendants following a dispute over the execution of the will.

    Justice Balogun resolved the clause, “… the children of my sister Deshiyan, that is Tunji Gomez and his sister Bopo should be considered as my children in the context of this will…,” in Gomez’s favour.

    He held: “It “qualifies the claimant and his sister Bopo as children/beneficiaries of the said will of Chief T. A. Doherty with the same rights and privileges and benefits to which all the children/beneficiaries are entitled.”

  • Zenith Bank declares N84.8b dividend

    The board of directors of Zenith Bank Plc yesterday announced that the bank will be distributing N84.8 billion to shareholders as cash dividend for the 2017 business year. The recommended payout represents 33.7 per cent increase on N63.42 billion paid for the 2016 business year.

    The dividend recommendation submitted to the Nigerian Stock Exchange (NSE) indicated that shareholders will receive a final dividend per share of N2.45, in addition to an interim dividend of 25 kobo, bringing total dividend per share to N2.70.

    The bank had distributed N63.42 billion to shareholders for the 2016 business year, representing a dividend per share of N2.02. The increase in dividend payout underlined the improvement in the performance of the bank in 2017.

    Key extracts of the audited report and accounts of Zenith Bank for the year ended December 31, 2017 showed that gross earnings rose by 46.7 per cent from N508 billion in 2016 to N745.19 billion in 2017. Profit before tax increased from N156.75 billion to N203.46 billion. After taxes, net profit rose by 37 per cent to N177.93 billion in 2017 as against N129.65 billion recorded in 2016. Earnings per share thus improved from N4.12 in 2016 to N5.66 in 2017.

     

  • Moghalu declares bid for president

    Moghalu declares bid for president

    Former Central Bank of Nigeria (CBN) Deputy Governor Prof. Kingsley Moghalu has declared his intention to run for president in 2019 general elections.

    He made his intention known at a news conference at the Shehu Musa Yar’Adua Centre in Abuja.

    The former CBN chief said he would not be intimidated by the popularity of the All Progressives Congress (APC) and the People’s Democratic Party (PDP) in 2019.

    Moghalu noted that Nigeria deserved a youthful leader with clear vision to move the country to an enviable height.

    He said: “With love for our country and a fierce commitment to a vision of rapid progress for our more than 180 million citizens, and following wide-ranging consultations, I offer myself to serve you as President of the Federal Republic of Nigeria as from May 29, 2019.

    “I, therefore, intend to be a candidate in the 2019 presidential election. I seek the opportunity to offer our country visionary, purposeful, competent leadership to build our future.

    “Nearly 60 years ago, our founding fathers Dr. Nnamdi Azikiwe, Sir Ahmadu Bello and Chief Obafemi Awolowo envisioned a great country that would take its pride of place in the world based on the talents of its citizens and a constitutional federation that would ensure justice, equity, and economic productivity.

    “Their vision and hopes have yet to materialize – military rule, oil booms and busts, and the successive leadership failures of our civilian political class have combined to rob us of what seemed our destiny at independence.

    “I am standing here today saying that it is time we shatter the downward spiral to nowhere.”

  • NPA declares N299.56b revenue for 2017

    NPA declares N299.56b revenue for 2017

    The Nigerian Ports Authority (NPA) says it generated N299.56 billion last year – its highest revenue in five years.

    The agency, in a statement endorsed by its General Manager, Corporate and Strategic Communications, Abdullahi Goje, explained that the last time the agency yielded a remarkable income was in 2015 when it recorded revenue of N180.50 billion.

    It generated N154.50 billion in 2013, N159.30 billion in 2014 and N162.20 billion in 2016.

    “The 2017 figure declared by the authority is made up of revenues from traffic, harbours, administrative and others sources in the sum of N136.04 billion, N66.80 billion, N86.06 billion and N10.75 billion respectively,” the statement read.

    In December, its Managing Director Hadiza Bala-Usman, said NPA surpassed its 2017 revenue target.

    She said: “Over N118 billion was raked in, in the first quarter of the year (2017). We are grateful that we have attained most of the goals that we set for ourselves.

    “We have maintained an open door policy which has made it possible…to achieve the very important task of repositioning port operations in Nigeria for better efficiency.”

  • Bamgbola declares fasting, prayer for Bonnke’s crusade

    Chairman, Central Working Committee of Reinhard Bonnke’s Final Fire Crusade in Africa, Apostle Alexander Bamgbola has declared a three-day fasting and prayer for divine visitation during the five-day crusade.

    The crusade, the last for the renowned German preacher, holds from November 8-12 at Spark Light Estate opposite OPIC Event crentre on the Lagos-Ibadan expressway.

    In a statement yesterday in Lagos, Bamgbola solicited for support of the Christian community and church leaders for the success of the crusade.

    He appealed to them to mobilise members and pray for supernatural manifestations during the crusade expected to attract thousands.

    According to him: “I wish to specifically invite all the children of the Most High God, all servants of God and all those who fear the Lord across the broad Nigerian and global landscape, to sanctify a three-day fasting and praying sessions beginning from Friday, 3rd to Sunday 5th November.

    “I equally enjoin individual saints to continue to wait upon the Lord beyond this specific time, and far into the crusade days for abounding success and massive turn around for our city and dear country.”

    He assured God “will mercifully extend His saving grace to millions, heal the sick, elevate the poor, free those in bondage of any kind and heal our land” during the crusade.

    “Let’s bend the knees to our God, to heal our land, renew the souls of men and free us from the stranglehold of the devices of Satan and his agents,” Bamgbola appealed.

  • Anchor declares dividends on 2016 accounts

    Shareholders of Anchor Insurance Company Limited have  approved a dividend payment of N3.6kobo per share in its financial year 2016.

    The shareholders approved the payment at the company’s 27th annual general meeting (AGM)  at the Le Meridian Ibom Hotel and Golf Resort in Uyo, the Akwa Ibom State capital.

    Chairman of the company, Dr. Elijah Akpan, stated that despite the  harsh economic situation  in the global and domestic environments, the company recorded growth in some key indices in the year ended December 31, 2016.

    He said the dividend payout is an indication of 12 per cent growth.

    He said the company experienced 11 per cent growth in profit after tax margin from N205 million in 2015 to N228 million in the year ended December 2016.

    He stressed that the growth was mainly attributable to improved efficiency in operations of the company and introduction of unique and acceptable insurance products backed with cutting-edge innovative technology.

    He said: “Its investment and other incomes grew by 16 per cent from N182 million in 2015 to N212 million in 2016. This is as a result of shrew investment operations and decisions. The company incurred claims of over N371 million while the underwriting result at the end of the year amounted to N1.013billion compared to approximated N965 million earned during the year ended December 2015 which amounted to 5.04 per cent in 2016.

    “The company total asset increased in 2016 by 6.5 per cent with an approximated total of 5.8billion compared to N5.4billion recorded in 2015 while its shareholders fund grew from N4.5 billion in 2015 to N4.7 billion in the year 2016 thus showing a 5.03 per cent growth in shareholders fund”.

    Akpan further stated  that the company is implementing her plans to improve her capital base through available instruments in the market  with introduction of improved insurance products, Retail and Micro Insurance, Property Investment and Leasing.

    The firm’s Managing Director, Adeduro Mayowa, added that the company is poised to develop and introduce more innovative insurance products following the launch of AnchorLoEIS into the insurance market with the aim of making the company the trailblazer while setting standard for others to follow in respect to non-generic insurance products.

  • Family declares woman missing

    The family of a woman who went missing two years ago, Mrs Anuoluwapo Esther Uwenwa have made a fresh appeal to trace her whereabouts.

    The family hope new information from members of the public could help in unravelling the mystery behind her disappearance.

    It was learnt that Uwenwa (nee Kankan) left her Lagos home in September for unknown destination and has not been found to date.

    According to the family, despite carrying out a series of searches through the mass media and public hospitals, there is no clue yet on Uwenwa’s whereabouts.

    One of her brothers, Michael Kankan said: ‘’She left her home in the Ladejobi area of Ikate, Surulere, Lagos residence without telling anyone where she was going and we have not seen her in the last 24 months. We have been searching for her since and there is no clue yet to her whereabouts.’’

    Anyone with relevant information is urged to call her husband, Mr. Anthony Uwenwa, on 07046398573 or the nearest police station.

  • Kogi: PDP declares Wada poll’s winner

    Kogi: PDP declares Wada poll’s winner

    The Peoples Democratic Party (PDP) yesterday declared its candidate Governor Idris Wada as the winner of the governorship election in Kogi State.

    According to the party, its standard bearer at the polls on November 21 and December 5 scored 201,877 votes against All Progressives Congress (APC) Yahaya Bello’s 6,885 votes at the supplementary election. The PDP said Wada had more votes than Bello and therefore, should be returned by INEC.

    The election which the Independent National Electoral Commission (INEC) declared inconclusive on November 21, was deemed to have been concluded at the weekend, with voting in 91 polling units across 18 local government areas.

    It was won by Bello of the APC. Bello was named the party’s candidate following the November 22 death of its former candidate Prince Abubakar Audu, who looked good to unseat Wada after polling 240, 876 votes on November 21.

    But the PDP’s National Publicity Secretary, Olisa Metuh, described Bello’s declaration as winner of the poll by the electoral umpire as “a waste of time” that will not stand.

    According to the PDP, INEC’s declaration of Bello as winner amounted to a “waste of time, a waste of scarce national resources and ridiculous shadow-chasing”. It insisted that Bello did not participate in the entire election and as such, could not be declared the winner.

    To the PDP, “INEC declared Bello winner just to satisfy President Muhammadu Buhari and the APC. INEC has made a mockery of itself and the entire electoral process”.

    By the PDP’s reckoning, Bello scored only 6,885 votes in the supplementary election, against Wada’s 204, 877 votes in the overall election.

    The statement reads: “The action of INEC in trying to transfer the votes earlier garnered by the dead APC candidate, Prince Audu Abubakar, to another individual is completely impractical and alien to the nation’s Constitution and the Electoral Act.

    “The declaration by INEC that one Yahaya Bello polled the highest number of votes is an embarrassing travesty of the nation’s democracy and electoral process.

    “Not only that this individual is not in any way a valid candidate in the election, he also did not score the overall votes declared against his name by INEC and cannot be declared winner under any circumstance within the provisions of our laws.

    “The provisions of the Constitution and the Electoral Act are clear to the effect that with the unfortunate death of Prince Abubakar Audu before the conclusion of the election, and the fact that the laws do not permit the replacement of candidates once the balloting has commenced, the APC crashed out of the race, leaving the PDP candidate, Governor Idris Wada, as the clear winner, having garnered 204,877 votes to top all other contestants since, Prince Ababakar, the hitherto leading contestant, died with his votes.

    “It is, therefore, unfortunate that INEC disregarded the provisions of the Constitution and the Electoral Act, which left it with no other legitimate option than to declare Governor Idris Wada the governor-elect. Instead, it went ahead to preside over a charade, for which it is now attempting to illicitly hand over the vote cast for a dead man to another person, who did not participate in the overall election.

    “We all, including INEC and the APC, know that nothing other than declaring Governor Idris Wada winner of the election fulfills the requirements of the law under the circumstance.

    “The APC cannot have two candidates in one election and the bitter in-fighting within their fold shows the absurdity of INEC’s decision in that regard. Indeed, we remain shocked that INEC could elect to create such embarrassing and inciting setting just to show its ‘friendship’ with the ruling government.

    “Our advice to the APC, Yahaya Bello and their co-travellers in illegality is that theirs is a mere pipe dream as Governor Wada remains validly elected within the dictates of our laws under the circumstance.”

    “Finally, we charge all our members and supporters to remain calm and resist all provocation from the APC, which is now seeking the opportunity to trigger violence in the face of their misfortune, especially as the law will soon take the center stage, right the wrong created by INEC and declare Governor Wada winner.”

    On the Bayelsa State governorship election, the PDP accused the APC of manipulating the process.

    Speaking through Metuh, the PDP alleged plots by the APC and the military to rig election in Southern Ijaw Local Government Area, which was rescheduled till yesterday following the disruption of the process on Saturday.

    Five persons were reported killed in the violence that ensued as the election got underway on Saturday

    Metuh, in a statement, alleged that the plot was being coordinated by “the same Army Major, who supervised the killings yesterday”.

    The statement accused the unnamed officer of having handed most of the sensitive electoral materials to APC agents to fill and return as authentic results.

    “The Southern Ijaw Local Government Area is the largest local government in the state and the APC wants to use this scheme to inflate result figures in favour of their candidate,” the statement read.

     

  • Assembly declares emergency on Southeast roads

    The Enugu State House of Assembly has declared a state of emergency on federal roads in the Southeast. This followed a motion by Chinedu Nwamba (Nsukka East), condemning the deplorable state of the roads.

    Nwamba said: “Residents of Enugu and its environs, for over a decade now, are faced with myriads of problems because of the deplorable condition of federal roads.

    “It seems the state is forgotten in the construction of new roads, rehabilitation and maintenance of federal roads. Incidentally, this trend has persisted despite promises by successive governments.

    “Of the roads in question, the Port-Harcourt/Enugu and Onitsha/Enugu highways are the most pitiable. Whereas, the Enugu/Onitsha road, which usually takes about 40 minutes when the road was good, now takes three hours. The road is so bad that almost every vehicle that plies it breaks down before completing a full journey. The story is the same for the Enugu/Port-Harcourt highway as a journey of two hours now lasts five hours.”

    After deliberations, the House declared a state of emergency on federal roads and urged the Federal Government, through the Federal Ministry of Works/Federal Road Maintenance Agency (FERMA), to begin work immediately to avoid more mishaps.