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Tag: Zenith Bank Plc

  • Zenith Bank records N3.4tr gross earnings in nine months

    Zenith Bank records N3.4tr gross earnings in nine months

    Zenith Bank Plc’s gross earnings rose by 16 per cent to N3.4 trillion in the third quarter as the first tier banking group continues to demonstrate resilience and strong momentum.

    Nine-month report for the period ended September 30, 2025 released at the Nigerian Exchange (NGX), showed that Zenith Bank’s topline rose from N2.9 trillion in third quarter 2024 to N3.4 trillion in third quarter 2025. The growth in gross earnings was driven by a sustained growth in interest income which grew by 41 per cent to N2.7 trillion. The growth in interest income was supported by a high-yield rate environment and an expansion in the bank’s investment portfolio.

    Despite the increase in interest expense by 22 per cent to N814 billion on the back of a tightening monetary cycle and a growth in the bank’s funding base, the bank was able to achieve net interest margin (NIM) of 12 per cent in third quarter 2025 as against 10 per cent recorded in September 2024. Non-interest income however declined by 38 per cent to N535 billion, underpinned by a 60 per cent decline in trading gains.

    The bank saw modest drop in profit as it took bold measures to improve the quality of its loan portfolio. Profit before tax stood at N917 billion in third quarter 2025 as against N1 trillion reported in September 2024. Profit after tax also declined by eight per cent to N764 billion. With this, earnings per share slipped to N18.60 in third quarter 2025 as against N26.34 in third quarter 2024.

    The bank’s balance emerged stronger with total assets growing by 4.0 per cent from N30 trillion in December 2024 to N31 trillion by September 2025. This was largely supported by customer deposits, which rose by 8.0 per cent to N23.7 trillion. Gross loans declined by 9.0 per cent to N10 trillion while non-performing loan (NPL) ratio improved to 3.0 per cent due to the write-off of non-performing loans.

    Return on average equity (ROAE) and return on average assets (ROAA) stood at 23.3 per cent and 3.3 per cent respectively. Cost of funds increased to 4.5 per cent, underscored by the broader elevated interest rate environment. The group’s cost of risk stood at 10 per cent while cost-to-income ratio rose to 45 per cent.

    Also, coverage ratio and liquidity ratio remained well within regulatory limits at 211.1 per cent and 53 per cent respectively, highlighting the bank’s strong capital position and liquidity profile as well as its ability to fund strategic growth opportunities.

    Group Managing Director, Zenith Bank Plc, Dame Adaora Umeoji, said the third quarter results reflected the group’s unwavering commitment to a prudent risk management, compliance and corporate governance culture.

    She said the results underlined the bank’s disciplined execution capability and its ability to deliver long-term shareholder value in spite of challenging macroeconomic environment.

    She said: “The bank’s robust performance is an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment. We have fortified our capital base, reset our asset quality, and are well positioned for sustainable and profitable growth”.

    She expressed optimism on the outlook of the group noting that the results have confirmed the resilience of both the group’s business model and the excellence of its people.

    “We’re on a solid growth path that we expect to maintain through the remainder of the year. Our focus on innovation, digital transformation, and developing solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth,” Umeoji said.

    She assured shareholders that the robust performance, combined with improved asset quality and the bank’s strong capital base, positions Zenith Bank to deliver exceptional returns with expectations of sustained value creation.

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    She said: “We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders”.

    She noted that the bank’s track record of excellent performance has continued to earn the brand numerous awards. Zenith Bank was recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025. The bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    The bank was named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025. The bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

    Zenith Bank has also bagged several non-financial awards including, Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024.

  • Zenith is ‘Best Bank in Nigeria’, says Global Finance

    Zenith is ‘Best Bank in Nigeria’, says Global Finance

    Zenith Bank Plc has been named “Best Bank in Nigeria” in the Global Finance Best Banks Awards 2025.

    The bank won the  award for the fifth time in six years. Zenith Bank was among winners from 36 countries in Africa recognised by the prestigious Global Finance in its 32nd Annual Best Bank Awards.

    The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success. Winning organizations managed their assets and liabilities in a savvy way despite the fast-changing interest rate scenarios.

    The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, as well as analysts worldwide. Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

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    Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank, Dame (Dr.) Adaora Umeoji, said: “We are thrilled to retain our position as the Best Bank in Nigeria for the fifth year since 2020.

    This achievement is a testament to our unwavering commitment to delivering exceptional customer service, innovative financial solutions and dedication to serving our customers with efficiency and a strong focus on corporate governance. We will continue to invest in our people, technology and processes to ensure that we consistently maintain the highest level of service delivery”.

    She lauded the contributions and efforts of the Bank’s key stakeholders – the Founder and Chairman, Jim Ovia, for his visionary leadership and role in laying the foundation for an enduring and successful institution, the Board for the consistent guidance they provide, the staff for their commitment and dedication, and the Bank’s customers for their unwavering loyalty and support to the Zenith brand.

    Publisher and editorial director of Global Finance, Joseph D. Giarraputo, said: “Global banking continues to adapt and evolve, meeting challenges and capitalizing on opportunities with resilience and innovation. AI has quickly taken a pivotal role in the transformation of banking, and its growth promises to reshape the financial sector at an unprecedented pace.” He added that: “Global Finance’s Best Bank Awards honor financial institutions that excel in diversity of offerings, long-term stability, and technological innovation.”

    Global Finance’s “Best Banks Awards” are recognised amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking industry, with winners chosen in 150 countries and territories across Africa, Asia Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.

    Founded in 1987, Global Finance regularly selects the top performers among banks and other financial services providers, and the awards have become a trusted standard of excellence for the global financial community.

    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022, 2023 and 2024 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

    Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

  • 10 zonal champs emerge in Zenith Bank/ Delta Principals’ Cup

    10 zonal champs emerge in Zenith Bank/ Delta Principals’ Cup

    The 2024 edition of the Delta State Principals Cup football competition which started on October 7 in all the 25 Local Government Areas of the state has entered the Zonal stage.

    The annual youth developmental football competition being sponsored by Zenith Bank Plc has produced 10 qualifiers from the Local Governments.

    According to the timeline of the event, October 22nd and 25th will witness the zonal matches involving 25 teams which will produce the eight quarterfinalists.

    The quarterfinals will take place next Monday (October 28) with semifinals  billed for October 30th  while the final and third place matches will be decided on November 7.

    In some of the LGA finals, Okene Secondary School, Okuokoko defeated Orerokpe secondary school 2-1 in the Final of Okpe LGA while Okotie-Eboh Government School defeated Institute of Continue Education 4-3 to emerge champion of the Ika South LG.

    Also, lghogbadu Secondary School emerged the Champion of Warri South after whipping Essi College 5-2 just as Delta State Polytechnic Staff Secondary School defeated Comprehensive Secondary School 2-1 to become the LGA champion of Aniocha South.

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    Other zonal qualifiers are Baptist High School for Ethiope West, Ugbromo Secondary school for Uvwie LGA, Iwere College, Koko for Warri North,

    Kpakiama Secondary School for Bomadi LGA, Christ the King Secondary school for Burutu LGA and Umutu Mixed Secondary School for Umutu Ukwani LGA.

    The CEO of Hideaplus, organisers of the tournament, Tony Pemu, said more qualifiers would emerge today while the timeline will continue as scheduled.

     “This edition has been highly competitive and interesting. Many of the schools are here with highly talented players and we are going to have more interesting games in the final stages,” Pemu said.

    Zenith Bank, in partnership with the Delta State Government has been staging the annual competition which is now in its 7th edition.

    The Branch Head, Zenith Bank PLC, Asaba, Dr. Ifeanyi Attama, only last week during the official Kick-Off, stated that the bank was proud of the competition which has been producing talents over the years for the state and the age-grade national teams of Nigeria.

  • Zenith wins Global Finance Best Bank Awards

    Zenith wins Global Finance Best Bank Awards

    Zenith Bank Plc has been rated the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024.

    The latest ranking is the bank’s fourth time emergence since 2019.

    The bank was among others from 36 Africa countries recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards Winners.

    The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide.

    Among other factors considered in selecting the top banks, was the quantitative objective to the informed subjective.

    The objective factors included: growth in assets; profitability; geographic reach; strategic relationships; new business development and innovation in products. The subjective criteria were: opinions of equity analysts; credit rating analysts; banking consultants and others involved in the industry.

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    Commenting on the award, the outgoing Group Managing Director/Chief Executive of Zenith Bank, Dr. Ebenezer Onyeagwu said: “This award serves as a powerful affirmation of our resilience and tenacity despite headwinds and a very challenging macroeconomic environment. Indeed, it is a testament to our status as the leading financial institution in Nigeria, dedicated unwaveringly to delivering exceptional value to our stakeholders.”

    He expressed profound gratitude to the founder and chairman, Mr. Jim Ovia, for his exceptional vision and foundational role in establishing a resilient and enduring financial institution.

    Onyeagwu also lauded the board for their astute insights and exemplary leadership, the staff for their steadfast commitment and unwavering dedication, and the customers for their staunch loyalty to the Zenith brand.

    Publisher and editorial director of Global Finance, Joseph D. Giarraputo said: “Banking has reached another watershed moment with the debut of generative artificial intelligence, which promises to rewrite the industry playbook.”

    “In this ever-changing environment, the Best Bank Awards recognize the financial institutions that offer the broadest range of services, long-term reliability, and technological innovation.”

    Global Finance’s “Best Banks Awards” are recognised amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking industry, with winners chosen in 150 countries and territories across Africa, AsiaPacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.

    Founded in 1987, Global Finance selects the top performers among banks and other financial service providers. The awards have become a trusted standard of excellence for the global financial community.

    Zenith Bank’s track record of excellent performance has earned the brand numerous awards, including being recognised as the Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023, being listed in the World Finance Top 100 Global Companies in 2023; being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine.

    It also emerged as the Best Commercial Bank, Nigeria, for three consecutive years from 2021 to 2023, in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022 and 2023; Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards.

    It further merged as the Best in Corporate Governance’ Financial Services’ Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria in the International Banker 2022 Banking Awards.

    The bank also emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and Retail Bank of the Year for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

    Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

  • Zenith Bank hosts FMDA quarterly meeting in Lagos

    Zenith Bank Plc will be hosting the Financial Markets Dealers Association (FMDA) quarterly general meeting in Lagos.

    In a statement, the FMDA Acting Executive Secretary, Mrs. Mary Gbegbaje, said the association is collaborating with key stakeholders to create awareness on financial markets products, provide technical advice and create networking opportunities for members.

    The event, slated for Thursday, June 20 will hold at the Lagos Oriental Hotel, Victoria Island, Lagos by 3:00pm.

    According to the statement, the Group Managing Director/CEO, Zenith Bank Plc, Ebenezer Onyeagwu will give the welcome address while Director, Agusto & Co, Olabode Agusto will speak on the theme: Post-Inauguration Economic Outlook. The FMDA President, Samuel Ocheho will discuss key market development issues at the event.

    “The meeting provides a veritable avenue for the exchange of ideas, dissemination of information and fostering of business relationships among Treasurers, market players and their institutions. It will also be an opportunity to introduce new dealers into the market and familiarize them with operations of FMDA,” the statement said.

    Read Also: Zenith Bank posts N232b Profit Before Tax

    Continuing, Mrs. Gbegbaje said: “FMDA  is an Association of licensed Deposit Money Banks (DMBs) operating within the Nigerian Financial Market. It emphasises on regulatory policy engagement/advocacy and professional ethics in the financial markets. The association builds capacity, identifies, supports and develops where necessary, possible financial market infrastructure, human capital and promotes professional and ethical standards in treasury activities in Nigeria”.

    The FMDA has a vision to promote efficient market practices by encouraging high standards of conduct and professionalism. The Association’s priority among others is to contribute to the growth and development of the financial markets as well as the protection of the interest of members in the exercise of their dealing/trading activities including its value chain.

  • Gunmen abducts businessman in Gboko

    Gunmen  suspected to be kidnappers have abducted  an Ibo trader in Gboko, Benue State on Wednesday .

    The incident occurred about 11 am opposite Zenith Bank PLC, on J.S Tarka way in Gboko.

    The name of the victim is Celestine Agbo  ( aka Yellow) .

    According an eyewitness who pleaded anonymity   said the armed gunmen came in a Toyota corolla  popular known as dog nyash  and shot  into  the air sporadically.

    Read Also: Gunmen abduct slain DPO’s wife

    After shooting they went after their target who was among those on que to withdraw cash from ATM.

    The Gun abducted Agbo and drove away towards Gboko-Lessel road.

    When contacted, the two DPOs of Gboko A and B divisions who were  at the scene of the incidence with team of policemen    referred our correspondent to the Police Public Relation ( PPRO) in makurdi .

    The Chairman of Igbo traders’ association Tofi line, Mr. Nonso Okonkwo confirmed the incidence and said the victim was a member of the association.

    Attempt to speak with the PPRO failed as his GSM number were switch off.

  • Ezekwesili wants financial literacy for students early

    Ezekwesili wants financial literacy for students early

    Dr Oby Ezekwesili, a formerMinister of Education, on Wednesday said Nigerian youth should be equipped with skills and knowledge that would aid their understanding of financial matters right from secondary school.

    Ezekwesili stated this at the 2017 Nigerian Stock Exchange Essay Competition Awards Ceremony in Lagos.

    “We need to offer children financial literacy before they get to senior secondary schools.

    “It help and guarantees the young ones to grow into adults that can achieve financial security and success, and make informed decisions,” she said.

    The ex-minister said an individual who has acquired financial literacy is considered financially secured and able to succeed.

    “We must handle our youths with tools such as financial literacy because for too long, we have been made the poorest region in the world,” she said.

    Ezekwesili said Nigeria needs a newer generation that would help in changing the story.

    “Every country that has managed to do better, every country that has climbed out of poverty, has improved in education.

    “The basis of improvement is quality education.

    “We should be more interested in the state of the school system in Nigeria.

    “Anytime I see these young children excelling, I feel excited because I really don’t want their generation to repeat all the failures of my generation and the generation before me.

    “I am so such optimistic that Africa can claim its place in the 21st century because of our young ones,” she said.

    Ezekwesili commended the stock exchange for its investment in the education sector and called for more support from the private sector.

    “We need a collective effort on education.

    “The more the stock exchange will lead this process, the more the private sector understands that if they will find world class talents in this country, they have to be interested in what goes on in the education; so, it becomes a collective effort,” she said.

    Mr Oscar Onyema, Chief Executive Officer, the Nigerian Stock Exchange said the NSE would continue to invest in and develop financial education in schools.

    Onyema said the NSE was committed to playing its part in building a financially savvy generation, leveraging the essay competition and other initiatives.

    According to him, teaching students at a very young age the basics of finance and the capital market is essential to their broad financial literacy education.

    “Year on year, the participation and interest continues to increase, affirming the appetite of these future leaders for personal development.

    “The 2017 edition had a 36 per cent increase from the 2016 one, with over 10,100 entries received nationwide.

    “Through partnerships with Access Bank Plc, Zenith Bank Plc and Prime Atlantic Energy, the competition was a success.

    “In developing the entries, students are encouraged to consider real-world economic events and trends, conduct research online, develop investment knowledge and in the process gain the skills to prepare for their own financial future,” he said.

    Onyema said the the 2017 winners emerged from a rigorous and phased assessment process carried out by capital market professionals.

    “From the process, 10 national winners were selected, who further competed at the final stage to determine the overall best three entries and winners,” he said.

    According to him, the outstanding performance of the brilliant young is being recognised and rewarded today with equity investments, scholarship and sets of computers.

    “It is a win for the students and their schools,” he said.

    NAN

  • British Prudential enters Nigeria via Zenith Bank

    British insurer, Prudential, said it had bought a majority stake in Nigeria’s Zenith Life to give it access to the African country’s fast-growing insurance market.

    It said it had also signed a deal with the Nigerian insurer’s parent Zenith Bank Plc to sell life and other insurance products via the bank in Nigeria and Ghana.

    “Today’s announcement is an important milestone for Prudential and our growing portfolio of high-quality life insurance businesses in Africa,” Matt Lilley, chief executive of Prudential Africa.

    Zenith Life, which had gross written premiums worth N3.3 billion ($10.82 million) at the end of 2016, will be rebranded as Zenith-Prudential Life Insurance.

    Prudential did not say what size stake it had bought or how much it had paid. Prudential already has operations in Ghana, Kenya, Uganda and Zambia in Africa.

  • Two held for settling debt with anal sex

    The police have arrested a 20-year-old man, Job Martins, for allegedly having anal sex with a 16-year-old boy (name withheld) as payment for a N22, 000 debt.

    The police accused the teenager of stealing Martins’ Zenith Bank Plc Automated Teller Machine ‎(ATM) card through which he withdrew N22,000 from the bank.

    Martins, a house keeper, allegedly promised to forgive the debt if the teen, a cleaner, would practice homosexuality with him.

    According to the police, the boy agreed, but only for ‘one last time.’

    The teenager, resident at Goshen Estate, Ikate, Lekki, Lagos and Martins, who lives in Aboki Estate, Lekki, were arraigned Thursday by the police before Mrs. O. A. Ogunbowale of an Igbosere Magistrates’ Court, Lagos.

    They are standing trial on a two-count charge bordering on stealing and unlawful sexual intercourse.

    Prosecuting Sergeant Ajaga Agboko told the court that the defendants committed the alleged offences sometimes in August, at Aboki Estate.

    “The defendants were caught having sex through the anus and when asked why they did it, the boy said Martins, his boyfriend, cajoled him into it because of a N22, 000 debt.

    “He said he took Martins’ ATM card without his knowledge and withdrew N22, 000 from his account with which he bought a phone. When Martins found out, he promised to repay him from his salary but Martins promised to forget the money on the condition that the teenager agreed to have anal sex with him.

    “The boy said he agreed but only if that would be the last time they would have annual sex, as he did not like the act since he was not a girl,” Agboko said.

    The alleged offences, the prosecutor added, were punishable under Sections 285 and 136 of the Criminal Law of Lagos State, 2011.

    The defendants pleaded not guilty to the charge but the court rejected their application for bail and advised them to apply to the High Court.

    Magistrate Ogunbowale ordered that the case file be transferred to the office of the Director of Public Prosecution (DPP) for advice and adjourned till November 11.

  • Chisco goes digital, gives brand new car to loyal customers

    Chisco goes digital, gives brand new car to loyal customers

    CHISCO, a foremost luxury bus and fleet operator in Nigeria on Thursday unveiled the digitisation of bookings for her
    transport/logistics business and flagged off a rides and rewards promotion for loyal customers who patronises the online platform.

    Speaking at a press conference in Lagos, the Executive Director, CHISCO Group of Companies Mr Obinna Anyaegbu said the new booking solution is to promote contactless ticketing, improve operational efficiency and create better experiences for its customers.

    Anyaegbu said the pervading influence of digitisation which has put the power of choice amidst diverse options of available transport operators on the customers necessitated the 35 year-old company to raise the bar and meet customers on their turf.

    He added that CHISCO’s choice of partners – Cosharis Motors, Zenith Bank, Interswitch and Tecno Mobile is spurred by their commitments to pioneering real time smart mobility services that takes care of the future generation’s needs.

    According to him the promo, to be done quarterly and exclusive to online bookings, comes with a brand new 2016 MG3 series car as star prize and several consolation prizes worth millions of Naira.

    “As a brand we are spurred to tow this direction, knowing that digitisation is cutting across all layers of our society,” he said.

    ChiscoAnyaegbu said apart purchasing the tickets and booking from the company’s portal, the CHISCO has also entered into partnership with agabah.com a transport digitisation platform that manages its reseller’s platform. The platform, he said is another opportunity for unemployed youths who would register with Agabah to become its reseller for commission.
    Explaining further on the star prize, CHISCO’s Group Management Consultant Mrs Obiageli Obi said the rewards is part of the Corporate Social Responsibility (CSR) concept of the company to give back to loyal customers, adding that the more a customer patronises its services through the online platform, the more they stand a choice of winning.

    The General Manager, Marketing Coscharis Motors Mr Abiona Babarinde, said the digitisation process would not only create new jobs, but redefine transportation/logistics businesses in Nigeria.

    He said Coscharis is proud of the partnership a fact which he said explained why it is giving an iconic Morris Garages cars, exclusively marketed by Coscharis as its contribution to the promo.

    Babarinde who lauded CHISCO’s initiative said by just booking online, customers stands a chance of becoming a car owner.

    General Manager Zenith Bank Plc’s E-business and Card Services Mrs Wunmi Ogunbiyi who praised CHISCO for always pioneering innovations in the transportation industry said the company has removed all inhibitions on the path of any customer who wishes to buy tickets, book a seat and enjoy a pleasurable travel with it.

    “With this initiative, time, space, location are no longer a constraint. From your handset or any other devices, a prospective customer looking for better services could be served and even confirm his payments online”, Ogunbiyi said, adding that Zenith Bank is delighted to be part of the history making event that would revolutionise transportation and logistics business in the country.

    Group Head Interswitch Ltd Mrs Titilola Solaru lauded CHISCO for bringing convenience into the transportation industry. She said her company will continue to create more innovations in payments options in the country.