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ZENITH BANK REMAINS RESILIENT AS GROSS EARNINGS RISE TO NGN519 BILLION IN Q3 2021

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Zenith Bank

 

Zenith Bank Plc has announced its unaudited results for the nine months ended 30 September 2021, with Gross Earnings rising by 2% from NGN509 billionrecorded in the same period in 2020 to NGN519 billion, amidst the persistent challenging macroeconomic environment which was exacerbated by the Coronavirus (COVID-19) pandemic.

According to the Group’s unaudited nine months financial results presented to the Nigerian Exchange (NGX), the growth in gross earnings was largely due to an increase in current account maintenance fees and fees from electronic products during the period. Profit Before Tax (PBT) also rose to NGN180 billion, reflecting a 1% growth over the NGN177 billion recorded in the same period in the previous year.

Despite continuing economic uncertainties, the Group was able to grow its net earnings through a reduction in its cost of funds while keeping the cost of risk flat. This strengthened Earnings Per Share (EPS) by 1% to NGN5.11. The Group achieved a 9% growth in interest income from loans and advances on the back of an increase in gross loans of 9% year to date and enhanced efficiency, culminating in a 21% drop in interest expense to NGN74 billion from NGN94 billion. This resulted in the growth in net interest income of 4%, from NGN225 billion recorded at the end of Q3 2020 to NGN235 billion in the current period.

Total assets also increased by 3% to NGN8.8 trillion in the current period, while total deposits grew by 13% to close at NGN6.0 trillion from NGN5.3 trillion as at 31 December 2020, with a substantial contribution from retail deposits.

As a result of the focused drive to increase retail deposits in the past three years, there was a decrease in The Group’s cost of funds by 35% to 1.4% from 2.2% year-on-year. The Group continues to make significant progress in its retail banking drive, as evidenced by remarkable growth in transaction volumes and value across its digital platforms and strong growth in customer acquisition.

For the final quarter of the year, management’s outlook remains positive, buoyed by a declining inflationary trend, expected increase in foreign exchange inflows, and improving oil production. The Group remains focused on increasing its retail market share, consolidating its leadership position in the corporate segment and maintaining a robust balance sheet.

In recognition of its track record of excellent performance, Zenith Bank was voted as Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021, 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 in Corporate Governance ‘Financial Services’ Africa 2020 and 2021 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 “2021 Top 1000 World Banks” Ranking by The Banker Magazine. In 2020, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Retail Bank of the year at the 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.

For over three decades, Zenith Bank has distinguished itself in the Nigerian financial services industry through superior service offerings, unique customer experience, and sound economic indices. The Bank remains a clear leader in the digital space with several firsts in deploying innovative products, solutions, and an assortment of alternative channels that ensure convenience, speed, and safety of transactions.

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Ganado Farms: Redefining Nutrition, Agric Business In Nigeria

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The quest for the diversification of the Nigerian economy has no doubt hit a chord with many Nigerians, especially young people with an unquenchable thirst for entrepreneurial endeavors. The recourse and adherence to the quest for diversification, from research and daily realities, is more pronounced in the areas of agriculture and agribusiness, an area several Nigerian youths and start-ups are playing hard and smart. One of such start-ups is Ganado Farms, a multi-crop and integrated agribusiness involved in crop cultivation and livestock breeding. The success story of Ganado Farms is one many Nigerians will find inspiring and at the same time, surprising. This is because the reach and scope of the company, which started off in 2017, to say the least, is phenomenal.

Ganado Farms, which no doubt have its hands full, growing crops such as Cassava, Fruits, Vegetables, Ofada Rice, Ginger, Strawberry, Potatoes, Onions, Watermelon, Cucumber, Lettuce, Cabbage, Tomato, Pepper and Carrots, aside livestock breeding, can be described as one of the most diversified companies involved in agribusiness in Nigeria.

Speaking on the operations of the company, it’s Head of Operations, Mr. Tomisin Inumo-Jacobs in a chat, said though Ganado Farms is still a young company, which came into being in April 2017, the company nevertheless have the vision of becoming the pioneer of agro and techno platforms, through organic food, which will help in promoting and uplifting the agriculture sector in Nigeria and Africa at large.

 

He said: “We believe strongly that agriculture is still man’s oldest profession and as long as people and even animals eat, the sky is the beginning.

“Though we are still young, haven started operations precisely in April 2017, we already have farms in Nigeria and Ghana. We are in 3 states across the southwest and Plateau State in the North Central.

“In Jos and Epe in Lagos, we have our fruits and vegetable farms, while in Wasimi in Ogun State, we have the livestock farm. The Ofada Rice and Cassava farms are located in Oyo State, while we also grow ginger, Onions, strawberry and potatoes in Jos.

Speaking further, Inumo-Jacobs said the company focuses primarily on large-scale production of watermelon, cucumber, lettuce, cabbage, tomato, pepper, carrots, vegetables, potatoes, onion and strawberries.

Unlike many other companies that focus only on farming and the production of farm products, Ganado Farms is multi-faceted, as it also offers agricultural training and consultancy.

“We help people who are looking at going into agriculture but probably do not have the time and the experience to get started to generate maximum profit by helping them acquire the land and farming for them based on solid insurance and expertise. We also help sell to our off-takers after harvest.

“So far, we have helped over 1,200 stakeholders maximize great profits through agriculture. Our passion for Agriculture and transparency has helped us to stay on top of our game in the Agribusiness”, the Ganado Farms boss said.

Ganado Farms also prides itself of having a mission that speaks volumes of what has propelled it to the enviable level it has attained in a short while, as the mission statement says: ” to be ever dependable in helping people make a risk free agribusiness decision and healthy living, contributing our quota to the most affordable and organic food production, employment rate and promoting agriculture in Nigeria, Africa and beyond.”

 

Ganado Farms

Though agriculture is believed to be the oldest profession in the world with its practice still largely primitive and manual in this part of the world, Ganado Farms have brought in some innovations, taking advantage of information and communication technology to make its operations less cumbersome.

According to Inumo-Jacobs, these innovative ways of doing things, especially with technology, were informed by the quest of the company to give the general public a more affordable, fresher, cleaner, healthier and more hygienic farm produce directly from their farms.

“We have been able to set up a value chain, reaching the final consumers directly with our products. Buyers can now shop from the comfort of their homes and get it delivered to their doorsteps through our fast and efficient delivery service, Ganado Logistics.

“Farm produce such as 100% stone-free Ofada Rice, Well produced Garri Flakes, Dried Catfish, Tomatoes, Habanero Pepper, Chilli Pepper, Local Pepper, Cucumber, Watermelon, Pineapple, 100% Fruit Juice and Smoothies in all variants. Potatoes, Strawberries, Chicken, Turkey, Eggs, Pigs and Cows can be ordered online by clicking on http://www.ganadofoods.com and it will be delivered in record time”, he said

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LEMON FRIDAY: ADRON HOMES SLASHES PRICES TO 50%, ENCOURAGES NIGERIANS TO OWN HOUSES

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Adron Homes and Properties has slashed its estates prices by 50% to encourage Nigerians own a house regardless of their income in its Lemon Friday happy hour promo. The real estate company in ensuring its mandate of making the incredible affordable slashed the prices of all its estates across the country to encourage Nigerians to own a home of their own. The promotion tagged LEMON FRIDAY happy hour is slated to last till December 6, hence, giving more time for participation and coming with different valuable gifts for subscribers.
With this year’s Lemon Friday happy hour sale, customers would enjoy up to 50 percent discount on all its estates in Ikorodu, Epe, Atan-Ota, Ibeju Lekki, Badagry, Ijebu Ode, Shimawa, Abeokuta, Osun, Abuja, Nasarawa and Keffi respectively.
The Lemon Friday happy hour promo will avail customers a 50% slash till December 6th of the year before the prices go back to the usual 40%, on all estates in Ikorodu, Epe, Atan-Ota, Ibeju – Lekki, Badagry, Ijebu – Ode, Shimawa, Abeokuta, Osun, Abuja, Nasarawa and Keffi respectively.
For every purchase you make, you’d be getting a great deal that Adron is best known for.
It is no doubt that we are the foremost and widely covered real estate company in Nigeria and that’s why we are rolling out this big offer to allow every Nigerian own a house with ease with breaking their income-expenditure budget”, he stated.
Customers can pay as low as N25,000 initial deposit and enjoy up to 36 months payment plan on all properties. This means you could make payment at your pace and within your budget because at Adron Homes, for every budget; there is a piece of land for you in all our estates.
At Adron, we encourage Nigerians to begin their journey to becoming property owners today with us and smile at what their income will fetch them in all our estates”, he pointed out.

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Nigeria-Dubai: In Grand style, Emirates Airline Lands In Nigeria 

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Emirates has today touched down in both Abuja and Lagos, marking the restart of daily services to Nigeria from Dubai. It received a spectacular water cannon welcome at Murtala Mohammed Airport, Lagos. Both flights from Dubai, EK 785 to Abuja and EK 783 to Lagos, were welcomed to Nnamdi Azikiwe International Airport and Murtala Muhammed International Airport with water cannon salutes. Upon arrival, a cake-cutting ceremony was also held between Emirates officials and the airport authorities to mark the resumption of operations.

 

Paulos Legesse, Country Manager Nigeria said: “We are delighted to resume operations to and from Nigeria, and are pleased to see strong interest from our customers, reflected in robust forward bookings from the time of our announcement, as well as today’s full flights from Dubai to Abuja and Lagos. The services will also give our customers the opportunity once again to safely experience Emirates’ superior product and service, offering them convenient travel options to Dubai, an already popular destination for Nigerian travelers, as well as seamless connectivity to other key cities across our network.”

 

The aircraft is being deployed to both Nigerian cities in the three-class Boeing 777-300ER which offers 8 luxurious First Class suites, 42 generous Business Class seats, and over 300 seats in Economy Class.

Customers across all classes were able to enjoy the airline’s regional delicacies onboard, as well as its renowned in-flight entertainment system, ice, featuring over 4,500 channels of on-demand entertainment, including Nollywood films and content.

Emirates operates in Abuja with EK 785 and 786. EK 785 departs Dubai at 1100hrs, arriving in Abuja at 1540hrs. The return flight, EK 786 takes off from Abuja at 1900, arriving in Dubai at 0435hrs the next day. Emirates flight EK 783 to Lagos departs Dubai at 1030hrs, arriving in Lagos at 1540hrs. The return flight EK 784 departs Lagos at 1810hrs, arriving in Dubai at 0415hrs the next day.

Traveling to Dubai: Ensuring the safety of travelers, visitors, and the community, Covid-19 PCR tests are mandatory for all inbound passengers arriving in Dubai, including UAE citizens, residents and tourists, irrespective of the country they are coming from. Travellers coming from Nigeria must hold a negative Covid-19 PCR test certificate for a test taken no more than 72 hours before departure.

Additionally, the Nigerian Centre for Disease Control (NCDC) has specified designated laboratories for passengers departing Nigeria and travelers must obtain their certificate from one of the labs listed here to be accepted on the flight. Travelers coming from Nigeria will also need to take another Covid-19 PCR test on arrival at Dubai International Airport.

Since it safely resumed tourism activity in July 2020, Dubai remains one of the world’s most popular holiday destinations, especially during the winter season. The city is open for international business and leisure visitors. From sun-soaked beaches and heritage activities to world-class hospitality and leisure facilities,

Dubai offers a variety of world-class experiences. It was one of the world’s first cities to obtain the Safe Travels stamp from the World Travel and Tourism Council (WTTC) – which endorses Dubai’s comprehensive and effective measures to ensure guest health and safety.

Dubai is currently hosting the world for Expo 2020, happening between October 2021 and March 2022. Through the theme of Connecting Minds, Creating the Future, Expo 2020 Dubai aims to inspire people by showcasing the best examples of collaboration, innovation and cooperation from around the world.

Its program is packed with experiences to suit all ages and interests, including a rich line-up of themed weeks, entertainment, and edutainment. Art and culture fans, as well as food and technology enthusiasts, can explore exhibits, workshops, performances, live shows and more.

Emirates continues to lead the industry with innovative products and services and recently took its customer care initiatives further with even more flexible booking policies which have been extended to 31 May 2022.

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