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ZENITH BANK MAINTAINS WINNING STREAK, CROWNED BEST CORPORATE GOVERNANCE ‘FINANCIAL SERVICES’ IN AFRICA 2021

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Zenith Bank

 

 

For the second consecutive year, Zenith Bank Plc has been named as the Best Corporate Governance ‘Financial Services’ Africa 2021 by the Ethical Boardroom. The award, which was published in the June 2021 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalization of corporate governance, setting an industry-wide example of best practices in that field.

 

Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenezer Onyeagwu said that: “this recognition is a testament to our commitment to quality, accountability, fairness and transparency in our engagement with all stakeholders. It is also an affirmation of the bank’s professionalism, ethical conduct and sustenance of global best practices and standards which is attributable to the joint collaboration of the management and staff”. 

EBENEZER ONYEAGWU

EBENEZER ONYEAGWU

This award comes on the heels of several awards and recognitions that have come the way of bank in recent times for its track record of excellent performance and commitment to global best practices. Zenith Bank was voted as Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020, Best Bank in Nigeria in the Global Finance World’s Best Banks Awards 2020 and 2021, and Best Corporate Governance ‘Financial Services’ Africa 2020 by the Ethical Boardroom. Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, and Number One Bank in Nigeria by Tier-1 Capital in the “2020 Top 1000 World Banks” Ranking by The Banker Magazine. Similarly, the bank was recognised as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Retail Bank of the year at the 2020 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and Best Company in Promotion of Good Health and Well-Being as well as Best Company in Promotion of Gender Equality and Women Empowerment at the Sustainability, Enterprise and Responsibility (SERAS) Awards 2020.

 

Zenith Bank has been generally adjudged a Corporate Governance compliant bank by the Nigerian Stock Exchange (NSE) hence its listing on the Premium Board of the Exchange. The bank continues to sustain this reputation and reappraise its processes to ensure that its business conforms to the highest global standards at all times.

 

The bank places a premium on its core business strategy anchored on People, Technology and Service, to create value for its numerous clientele. With a team of dedicated professionals, the bank leverages its robust Information and Communication Technology (ICT) infrastructure to provide cutting-edge solutions and products through its network of branches and electronic/digital channels.

 

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BREAKING: FBI INDICTMENT: IGP SUSPENDS DCP ABBA KYARI, INAUGURATES 4-MAN PANEL FOR INVESTIGATION

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Sequel to the level of the numerous allegation of corruption leveled against super cop DCP Abba Kyari by the FBI over his involvement in taking funds from Celebrity fraudster Abass Olorunwa known as Hushpuppi, The Inspector-General of Police, IGP Usman Alkali Baba, psc (+), NPM, fdc has recommended the immediate suspension of DCP Abba Kyari, the Head of the Police Intelligence Response Team (IRT), from the Service of the Nigeria Police Force, pending the outcome of an ongoing internal investigation touching on him.

 

The IGP, in his letter to the Police Service Commission, dated 31st July, 2021, noted that the recommendation for the suspension of the officer is in line with the internal disciplinary processes of the Force. The IGP further noted that the suspension is also expected to create an enabling environment for the NPF Special Investigation Panel to carry out its investigations into the weighty allegations against DCP Abba Kyari without interference. The suspension is without prejudice to the constitutional presumption of innocence in favour of the officer.

The Special Investigation Panel (SIP), comprising four (4) Senior Police Officers, is headed by DIG Joseph Egbunike, the Deputy Inspector General of Police in charge of the Force Criminal Investigations Department (FCID). The SIP, inter alia, is to undertake a detailed review of all the allegations against DCP Abba Kyari by the US Government as contained in relevant documents that have been availed the NPF by the Federal Bureau of Investigation (FBI). The SIP is also to obtain a detailed representation of DCP Abba Kyari to all the allegations leveled against him, conduct further investigations as it deems fit, and submit recommendations to guide further actions by the Force Leadership on the matter.

Meanwhile, the IGP has reaffirmed the commitment of the Force to the Rule of Law and assured the public of the sanctity of the probe as well as the absolute respect for the rights and privileges of the officer throughout the period of the investigations.

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NAS tackles NBC over censorship of Media

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PYRATES

 

The National Association of Seadogs (Pyrates Confraternity) has kicked against what it called “blatant assault on press freedom” by the National Broadcasting Commission (NBC). The organisation declared that the directive by the regulatory body to Television and Radio stations not to “divulge” details of bandits, kidnappers and terrorists during Newspaper Reviews is unconstitutional as it violates freedom of expression of citizens and seeks to prevent the press from performing its duties enshrined in Section 22 of the 1999 Nigerian Constitution (as amended) to hold government accountable on behalf of the people.

The NAS Capoon, Mr Abiola Owoaje in a statement titled: “NBC’s Bullying of the Media Unacceptable” stated that the regulatory body by its latest action wants to suppress press freedom and restrict access of information to Nigerians.

According to Owoaje, NBC by the directive intends to criminalise journalism and prevents victims of terrorism, banditry and other associated crimes from getting justice.

“The National Association of Seadogs (Pyrates Confraternity) notes with considerable concern the sudden brazenness, repressive instincts and open partisanship being exhibited by the NBC in the interpretation of its regulatory remit in recent times. We unequivocally condemn these unethical attempts by the NBC to browbeat radio and television stations, and other organs of the Press, in a desperate bid to cow the Press.
Besides, we cannot find any justification for the bizarre NBC
directive; even on the hackneyed excuse of a security necessity, other than to
keep Nigerians in the dark about the uncomfortable reality of the insurgency
and the seeming inability of the security agencies to halt the spate of
insecurity across the country,” he said.

Owoaje stated further that contrary to what the security agencies would want Nigerians to believe, ferocious attacks on insurgents, kidnappers, killer herdsmen and bandits continue unabated in the country.
“We implore the executive arm of government to rein in the NBC to desist from its overt clampdown on press freedom.

The NBC should withdraw its illegal directive as it is unhelpful and counterproductive to the fight against insecurity in the country. Rather than see the media as the enemy, the media should be seen as a patriotic partner that can rally Nigerians to support the efforts of the government in tackling the myriad of security challenges afflicting our country. A free and unfettered press makes democracy thrive and is not merely a liberal indulgence. This is what Nigerians need. This is what we demand. We reject the shackles the NBC wants to foist on the media,” the statement added.

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Half-Year Performance: Transcorp Plc Shows Powerful Growth as Profit Leaps by 713%

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Transcorp Hotels

Transnational Corporation of Nigeria Plc (Transcorp) has released its unaudited results for the half-year ended June 2021, recording significant improvement across its major income lines.

The Conglomerate with strategic investments in the Power, Hospitality, and Energy sectors, recorded a profit after tax of N6.5bn, rising by 713% up from N0.8bn recorded in June of the previous year. Other key highlights of the result include the following:

  • Revenue rose by 53%, from N35.0bn in June 2020 to N53.3bn in the period under consideration.
  • Gross profit grew by 60%, from N14.7bn in June 2020 to N23.5bn in June 2021.
  • Profit before tax rose by 689% from N0.9bn in June 2020 to N7.1b in June 2021.

Commenting on the performance, Transcorp’s President/Group CEO, Mrs. Owen Omogiafo, reiterated the Conglomerate’s commitment towards producing long-term value and sustainable impact. “We are pleased to see the sustained growth in our group performance, which was achieved as a result of the improved performance across all the sectors we operate in. The revenue achieved in our power business grew by 48%, as a result of improved gas supply and increased generation capacity”, she stated.

Commenting on the hospitality sector, Omogiafo stated that the company’s strategic actions have resulted in a growth in revenue of up to 84%, despite the ongoing impact of the COVID-19 epidemic on the Nigerian and global hospitality industries. She expressed confidence in the company’s recovery strategies, citing the recent official launch of Aura, the company’s digital hospitality platform, as a testament to that confidence.

On the Group’s capacity to sustain its performance, Omogiafo said, “We do not plan to rest on our oars. We will continue to sweat our existing assets and explore new frontiers, as we continue to deliver on our purpose of Improving Lives and Transforming Nigeria.”

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