Sola Fajobi: I refuse to be used and cowered, I’m voting Sanwo-Olu

Published

3 weeks ago

March 7, 2023

It is a general saying that “Until you realize how easy it is for your mind to be manipulated, you remain the puppet of someone else’s game”, and nothing can be truer than that quote in the light of Nigeria’s situation at the moment.

The 2023 general election was meant to usher in a new era of renewed hope in a nation that is reputed to be the giant of Africa, but has successfully awaken an evil gnome of manipulation and bigotry in our youths like never before despite our alleged collective exposure.

On March 11, Lagosians will be polling to either re-elect the sitting governor or replace him with another aspirant from one of the other political parties gunning for the Alausa seat at the centre of excellence.

Lagos is a state with the highest number of voters in the South Western Nigeria. It boasts of vibrant and comparatively more educated electorates, representing a wide array of the nation’s ethnic groups. Statistics from the recently concluded presidential election shows that approximately 1/4 of the total number of registered voters were accredited to vote on February 25, 2023.

There was an upset in the usual results trend, where the ruling party, the All Progressive Congress, APC, was overtaken with a slight majority votes by the Labour Party that polled a total of 582,454 votes against APC’s 572,606. The Peoples Democratic Party, PDP, the historic second -fiddle horse in Lagos elections was edged to a record low of 75,750 votes.

I may not be interested in the analysis of what went down in the election as there is an urgent task at hand; the requisite re-election of the incumbent governor of Lagos State, Babajide Olusola Sanwo-Olu.

For those whose sense of judgement have not been coloured by mischief makers, it is an easy affirmation that Lagos State is working by every standard. Looking around you, there is always a testament to that fact. A litmus test of the fact that Lagos State is working is the reality of a working integrated public services system: Lagos remains the ONLY state in Nigeria (roll in the FG) with a working toll-free emergency line, with chronicles of how it has saved the day in incidences of fire, security, disaster and many more across the state.

Babajide Sanwo-Olu is a new convex curve in Lagos’ trajectory to regional dominance and global relevance. From the very first day, BOS has shown what he is made of as a member of a set of first-class governors that Lagos has been blessed with since 1999. He swiftly moved in to salvage the lot of Lagosians with respect to the perilous time his administration advent into. From leading the entire nation to successfully manage the COVID-19 pandemic, to rolling out his brilliant T.H.E.E.M.E.S. agenda, Sanwoolu came ready for the job from day one!

Aside from working out the long-standing vision of previous administrations, anchored on the objective of making Lagos a mega city of the 21st century-kind, five months ago, Sanwo-olu’s government launched a 30 year development plan for Nigeria’s commercial capital, which is to be implemented between 2022 and 2052. It is imperative to note that the plan is necessary to achieve the goals of becoming Africa’s model mega city, while also positioning Lagos as a global, economic and financial hub that is safe, secure, functional and productive.

Sanwo-Olu’s personality is cut from character traits uncommon with most Nigerian politicians, and ever since his assumption of office as the governor, he has rolled up his sleeves and got down into the trenches by ensuring that the state continues to move forward positively.

I’m a serial entrepreneur, and having traveled across the nation and outside its shores, I can declare without equivocation that Lagos State, under the APC, provides the best business environment for my business concerns to flourish. You can then understand my situation when I, Adesola Fajobi, say that I refuse to be used to derail such brighter prospects for my business and that of many other hardworking Lagosians like me.

Returning Sanwo-Olu as governor should be the most important task of every single Lagosian in this coking election. I refuse to be brainwashed to go against all the years of great works put into developing Lagos to make it the 5th largest economy in Africa.

The Ehingbeti Lagos Economic Summit has provided a platform for the articulation of Lagos economic and developmental agenda and progress, which Sanwo-Olu continually showcases with incontrovertible developmental strides.

He has commenced the construction of a new airport on the Lekki axis of the state after his government obtained approval from the federal government for the construction of the new airport in Lagos, and also completed the Lagos Blue Line rail project designed to move millions of Lagosians across the state.

Other laudable projects include the completion of the Pen Cinema flyover in Agege, the Opebi-Ojota link bridge, which is nearing completion, the largest rice mill in Africa, the Lekki Deep Sea port, upgrading of four higher institutions to universities and so many more.

Why change a winning and working formula? Why allow a newbie to turn a functioning society into a leadership testing ground?

Sanwo-Olu is sellable, tested and trusted. Why would I allow myself to be used as an agent of destruction to give greedy politicians tickets to return Lagos to ground zero? Mr. Governor always provides robust responses, demonstrating a deep understanding of the economy, governance, the people’s expectations and desires. This is something I wouldn’t want to stop benefiting from.

If his administration would be evaluated only by the COVID-19 pandemic, there is no gainsaying that Sanwo-Olu performed excellently. Instead of throwing up his hands in defeat, Mr. Governor became the incident commander, and immediately went to work as he locked down the state, activated all the state apparatus – media, security, public health, emergency management, etc., thereby saving millions of Nigerians lives. He duly earned the country the fourth position in the list of the countries in the world that handled the pandemic well. This is a verifiable fact.

With his years of experience in the private sector, he quickly worked with major players to set up isolation centres, infectious diseases centres, amongst other steps. It goes without saying that if Sanwo-Olu had failed as a leader during this dark period in our life, we may not be here now talking about 2023 election at all. Today under Sanwo-Olu, the Lagos Health Insurance Scheme costs only N40,000 a year for a family to enjoy from primary to tertiary health care.

I refuse to be cowered by a mob that sees nothing good in Lagos, and are hell bent on fostering other candidates with no track records of performance. Governance is not a matter for experimentation

I’m a father, a businessman, an entrepreneur, a brother and so much more like you; living in Lagos and flourishing under the present APC-led government. Come March 11, 2023, I have chosen to cast my vote for Babajide Sanwo-Olu to continue leading and serving Lagos with great achievements.

You should do the same too. Follow person wey know road.

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FIRSTBANK ANNOUNCES A NAME CHANGE OF ITS SUBSIDIARIES, REITERATES ITS COMMITMENT TO BOOSTING CROSS-BORDER BUSINESS OPPORTUNITIES IN AFRICA AND THE WORLD

Published

1 hour ago

March 31, 2023

D'SHOW

First Bank of Nigeria Limited, Nigeria’s premier financial services institution, has announced a phased corporate name change of its subsidiaries in the United Kingdom and Sub-Saharan Africa. FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia and FBNBank DRC are the first set of subsidiaries effecting the name alignment. They are now known and addressed as FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia and FirstBank DRC. The Ghana, Senegal and Guinea subsidiaries will be next in the phased name change implementation.

The name change is being implemented to align the subsidiaries with the parent brand and to enjoy the strong heritage and brand equity built by FirstBank Nigeria in its 129 years of banking leadership. This will further enhance the quality-of-service delivery resulting in better brand clarity, uniformity and consistency across all the markets where the Bank operates.

A leading financial inclusion services provider, FirstBank Group is committed to its nation-building goal. It has taken giant performance strides on its unique growth trajectory as it continues to build distinctive capabilities through partnerships and the constant drive to reinvent itself. This performance is evidenced in the numerous awards and recognitions bestowed on the institution. These awards include Best Private Bank for Sustainable Investing in Africa 2023 by Global Finance Awards; Best Corporate Bank in Western Africa 2022 by Global Banking & Finance; Best CSR Bank Africa by International Business Magazine in 2022; and ranked as number one in Nigeria in terms of Overall Performance; Profitability; Efficiency and Return on Risk by the Top 100 African Bank Rankings 2022 released by The Banker Magazine from the stables of Financial Times.

In addition, in Euromoney Market Leaders, an independent global assessment of the leading financial service providers conducted by Euromoney Institutional Investor Plc., the Bank was crowned: Market Leader in Corporate and Social Responsibility (CSR); Market Leader in Environmental, Social and Governance (ESG); Highly Regarded in Corporate Banking and Digital Solutions and Notable: in SME Banking.

Speaking on the name change, Dr. Adesola Adeduntan, CEO of FirstBank Group, said ‘’ the name change which coincides with FirstBank’s 129th founding anniversary (March 31st, 2023) is indeed a milestone reflective of our resolve to continuously provide the gold standard of excellence and value as we put our customers First. The new identity of the subsidiaries contributes to an enhanced brand presence. It helps our customers and stakeholders better appreciate the value of the diversified products suites, competitive pricing and extensive business networks the FirstBank Group offers. These include our commitment to boosting cross-border businesses including trade and investment opportunities essential to enhancing trade relations amongst countries, thereby strengthening the economies of host communities and reducing poverty,” he concluded.

News

Oando Boss, Wale Tinubu, Congratulates [email protected]

Published

2 days ago

March 29, 2023

D'SHOW

Wale and Bola Tinubu

The Group Chief Executive, Oando Group, Mr Wale Tinubu, has described the President-Elect, Asiwaju Bola Tinubu, as an exemplary politician who possesses leadership qualities worthy of emulation.

In a message to felicitate the former Lagos State governor on his 71st birthday on Wednesday, the Oando boss also lauded the selfless sacrifices the President-Elect have made for the enthronement and sustenance of democracy in Nigeria.
In his message Mr. Tinubu wrote:‘ ’Happy birthday H.E Asiwaju Bola Ahmed Tinubu, an inspirational leader and President-Elect! Your selfless dedication to improving the lives of others, most especially Nigerians, is exemplary. As we celebrate another year of your remarkable accomplishment, may Allah (SWT) grant you courage and success in the leadership of our great nation.”
Popularly known as ‘Governor Emeritus’, Tinubu’s political career began in 1991 when he became a Senator of the Federal Republic representing Lagos West Senatorial District. The Third Republic was, however, truncated by the late General Sanni Abacha in 1993, following the June 12 debacle. But for fate, he would have been summarily dispatched for his outspokenness then.
The Lagos State-born politician came back in 1998, preparatory to the advent of the Fourth Republic. This time, he came out better, wiser and more determined. He was elected the governor of Lagos State in 1999 under the platform of the Alliance for Democracy, AD.
He survived the Peoples Democratic Party’s ‘Tsunami’ in 2003 when other AD governors in the South West region were swept away from office.
His political profile has been on the rise since, as he was among the top politicians who formed the ruling All Progressives Congress, APC, in 2014.

Business

ZENITH BANK RECORDS IMPRESSIVE 24% DOUBLE-DIGIT GROWTH IN GROSS EARNINGS IN 2022

Published

3 days ago

March 29, 2023

D'SHOW

Zenith Bank Plc has announced its audited results for the year ending December 31, 2022, achieving an impressive double-digit growth of 24% in gross earnings from NGN765.6 billion reported in the previous year to NGN945.5 billion in 2022. This is despite the persistent challenging macroeconomic environment and headwinds.

According to the audited financial results for the 2022 financial year presented to the Nigerian Exchange (NGX), the double-digit growth in gross earnings was driven by a 26% year-on-year (YoY) growth in interest income from NGN427.6 billion to N540.2 billion and a 23% year-on-year (YoY) growth in non-interest income from NGN309 billion to NGN381 billion. Profit before tax also grew by 2% from NGN280.4 billion to NGN284.7 billion in the current year. The increase in profit before tax was due to the significant growth in all the income lines.

Impairments grew by 107% from NGN59.9 billion to NGN124.2 billion, while interest expense grew 63% YoY from N106.8 billion to N173.5 billion, respectively. The impairment growth, which also resulted in an increase in the cost of risk (from 1.9% in 2021 to 3.3% in the current year), was due to the impact of Ghana’s sovereign debt restructuring programme. The growth in interest expense increased the cost of funds from 1.5% in 2021 to 1.9% in 2022 due to hikes in interest rates globally.

Customer deposits increased by 39%, growing from NGN6.47 trillion in the previous year to NGN8.98 trillion in the current year. The growth in customer deposits came from all products and deposit segments (corporate and retail), thus consolidating the bank’s market leadership and indicating customers’ trust.

The continued elevated yield environment positively impacted the bank’s Net-Interest-Margin (NIM), which grew from 6.7% to 7.2% due to an effective repricing of interest-bearing assets. Operating expenses grew by 17% YoY, but growth remains below the inflation rate. Total assets increased by 30%, growing from NGN9.45 trillion in 2021 to NGN12.29 trillion, mainly driven by growth in customer deposits. With the steady and continued recovery in economic activities, the Group prudently grew its gross loans by 20%, from NGN3.5 trillion in 2021 to NGN4.1 trillion in 2022, which increased the Non-Performing Loan (NPL) ratio modestly from 4.2% to 4.3% YoY. The capital adequacy ratio decreased from 21% to 19%, while the liquidity ratio improved from 71.2% to 75%. Both prudential ratios are well above regulatory thresholds.

In 2023, the Group intends to expand its frontiers as it also reorganises into a holding company structure, adding new verticals to its businesses and growing in all its chosen markets, both locally and internationally.

As a testament to its commitment to shareholders, the bank has announced a proposed final dividend payoutof N2.90 per share, bringing the total dividend to N3.20 per share.

In recognition of its track record of excellent performances, Zenith Bank was recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; 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; Best Commercial Bank, Nigeria 2021 and 2022 in the World Finance Banking Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022; Best in Corporate Governance’ Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Retail Bank of the year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named as Bank of the Decade (People’s Choice) at the ThisDayAwards 2020, Most Innovative Bank of the Year 2019 by Tribune Newspaper, Bank of the Year 2020 by Independent Newspaper, 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.