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FACTS AND FIGURES: 21 REASONS GYB STANDS OUT- PART II

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Governor Yahaya Bello
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Recall, sometime last week we hinted you on the 21 Reasons Governor Yahaya Bello ‘GYB’ Stands Out (Part 1). Obviously, the good works of his administration are visible to the blind and resounding to the deaf; In recognition of his outstanding Leadership style, he was awarded the Best Governor of the year by Aluta Media Limited  a popular News platform that focuses on the general welfare of the Civil Society Organizations.

The curiosity that greeted the first part of this series on the glowing stride of an unusual 45 years old who superintends the Confluence State of Kogi from LUGARD HOUSE, Lokoja is profound.

The Young man in Kogi is not one who will fix a road and spend half the said amount in Commissioning the Road. He believes in hard work over propaganda. His strides are Olympic and his commitment to good governance incredible, and that is the enigma called GYB.

Follow me as we present the second Part of the 21 things that qualify Governor Yahaya Bello GYB for higher office, indeed GYB STANDS OUT.

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8. Are you aware that in 2017/2018 whilst the media was awash with heavy criticism of GYB and whilst the many political Godfathers that be deployed the Press against him, The World Bank rated Kogi State as one of the 9States in the Country that successfully reduced unemployment. Facts are sacred.

9. Are you aware that Kogi is not only the safest State in the North, Kogi is the second safest in the nation after the State of Osun. And Kogi has one of the most effective Vigilante Service that at some point have rescued kidnapped Police Officers. GYB has put a lie to the tale of Governors not being effective as Chief Security Officers of their States, having not only shown capacity and competency, GYB has made the Confluence State that shares border with almost 7 states the safest in the North, and the second safest in Nigeria. That’s the enigma called GYB.

10. Are you aware that cited in Kogi State is the third biggest Rice Mill in Nigeria built by GYB and functional. A very great stride that others will spend almost the equivalent in publicity, but with GYB service delivery is the way to go.

11. Do you know that GYB has built numerous skill acquisition centres across the three Geopolitical/Senatorial zones of Kogi, and that fully trained young men and women are given support capital, and that is why the World Bank MDG rating has Kogi amongst the best in Nigeria.

12. Whilst other States are busy profligately spending the Covid19 States Intervention and Support Fund, Kogi State is far gone in building one of the biggest medical facilities in Africa. To GYB “Even though I have my firm reservations on the Covid19 pandemic, I have decided to spend the Covid19 funds in building the biggest medical facility in this part of the world in Kogi, so that I shall have no cause to travel for medical tourism now or in the future.” That is the enigma called GYB.

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13. GYB patriotically mobilized the Federal Government and His fellow Governors into a NO SHUT DOWN of the Economy in the wake of the second phase of the Covid19 pandemic. He has maintained that until the Covid19 pandemic is dispassionately interrogated, we cannot afford another LOCK DOWN of the economy. How more patriotic can a leader be?

14. Kogi State is an example of proactive Youth competency and capacity in governance. GYB with a cabinet of average age of 46 has ensured a safe, effective and prosperous Kogi.

You are at liberty to interrogate these fact, as we believe that the enigma fondly called GYB is fit, able and qualified for higher office.

TO BE CONTINUED…

Chabor Musa Nyamgul Jnr.
Convener GOT YOUR BACK NIGERIA (GYB NIGERIA).

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Economy

Trading on NGX rebounds by N3bn

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By Gistflash News

Sept 14, 2021

The Nigerian Exchange (NGX) closed trading on Tuesday in green to halt the six-day consecutive bearish trend with a marginal growth of N3 billion.

The market upturn was due to investors’ renewed buying interest in the financial and industrial sectors.

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Consequently, the market capitalisation inched higher by N3 billion or 0.01 per cent to close at N20.278 trillion from N20.275 trillion achieved on Monday.

Also, the All-Share Index grew by 4.88 points or 0.01 per cent to close at 38,920.50 against 38,915.62 on Monday.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; UACN, Dangote Sugar Refinery, Africa Prudential, Oando and University Press.

Analysts at Afrinvest Limited said that “In the next trading session, we anticipate a negative performance as market remains short of a positive catalyst.”

However, the market breadth closed negative recording 21 losers as against 14 gainers.

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UACN Property Development Company led the gainers’ chart in percentage terms by 9.93 per cent to close at N1.66 per share.

Academy Press followed with 8.33 per cent to close at 39k, while Courteville Business Solutions appreciated by 7.41 per cent to close at 29k per share.

Vitafoam went up by 3.88 per cent to close at N17.40, while Livestock Feeds appreciated by 2.88 per cent to close at N2.14 per share.

On the other hand, Sovereign Trust Insurance led the losers’ chart in percentage terms by 7.41 per cent to close at 25k per share.

University Press followed with 6.42 per cent to close at N1.02, while Regency Alliance Insurance shed 6.25 per cent to close at 45k per share.

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UACN lost 4.85 per cent to close at N9.80, while Chams declined by 4.55 per cent to close at 21k per share.

Meanwhile, the total volume rose by 13.6 per cent to 228.48 million shares worth N1.88 billion traded in 3,376 deals.

This was in contrast with 201.10 million shares valued at N2.53 billion achieved in 3,340 deals on Monday.

Transactions in the shares of Wema Bank topped the activity chart with 46.76 million shares worth N35.97 million.

Access Bank followed with 28.24 million shares valued at N263.49 million, while United Bank of Africa sold 17.77 million shares worth N135.08 million.

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Mutual Benefits Assurance traded 17.24 million shares valued at N4.88 million, while Fidelity Bank transacted 14.80 million shares worth N36.07 million.

NAN

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Economy

Fidelity Bank grows PBT by 72.4% in 6 months

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By Gistflash News

Sept 12, 2021

Fidelity Bank Plc has posted a profit before tax (PBT) of N20.6 billion for the six months ended June 30, 2021.

The Managing Director/Chief Executive Officer of Fidelity Bank, Mrs Nneka Onyeali-Ikpe, disclosed this in the bank’s audited half-year (H1) results released to the Nigerian Exchange (NGX) Limited on Sunday in Lagos.

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Onyeali-Ikpe said that the bank’s PBT represented a 72.4 per cent growth when compared to N12.0 billion recorded in the comparative period of 2020.

She added that profit after tax (PAT) rose to N19.31 billion from N11.30 billion recorded in the corresponding period.

She said the growth was on the Back of Increased customer transactions and improved operational efficiency.

“We sustained our impressive financial performance with double-digit growth in profit as increased customer transactions drove non-interest revenue while improved operational efficiency continued to moderate cost-to-serve,” she said.

Onyeali-Ikpe also said that the financial result for the period indicated that Gross Earnings increased by 6.2 per cent Year-on-Year (YoY) to N112.3 billion on account of 27.8 per cent growth in Non-Interest Revenue (NIR) to N23.8 billion from N18.1 billion in H1 2020.

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She added that the bank’s NIR was driven by strong growth in commission on banking services by 57.7 per cent, account maintenance charges by 50.6 per cent, digital banking income by 49.4 per cent and trade income by 33.7 per cent among others.

Total customer induced transactions across all distribution channels increased by 58.0 per cent YoY and 21.2 Per cent QoQ.

The bank showed a good appetite in funding the real sector with net loans and advances increasing by 15.8 per cent YTD to N1.53 billion from N1.32 billion in 2020FY.

However, the actual growth was 14.7 per cent while the impact of the currency adjustment (2020FY: N400.3/dollars-H1 2021: N410.6/dollars) accounted for a 1.1 per cent YTD growth in the loan book. Cost of risk came in at 0.3 per cent and the NPL ratio (stage 3 loans) dropped to 2.8 per cent from 3.8 per cent in 2020FY.

Other regulatory ratios remain well above the minimum requirement: capital adequacy ratio at 18.8 per cent from 18.2 per cent in 2020FY.

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Total Deposits increased by 16.5 per cent YTD to N1.98 billion from N1.69 billion in 2020FY, driven by increased deposit mobilisation across all deposit types.

“Digital Banking gained further traction as we now have 55.1 per cent of our customers enrolled on the mobile/internet banking products and 89.3 per cent of customer-induced transactions were done on digital platforms.”

She also explained that the bank’s foreign currency deposits increased by 23.1 per cent YTD at 149 million dollars and now accounted for 18.5 per cent of total deposits from 17.5 per cent in 2020FY.

According to her, this is  as the bank continues to harness the benefits of its renewed drive in the diaspora banking space.

“We look forward to sustaining the current momentum in H2 by optimising our balance sheet and lowering our cost–to–serve.

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“This will translate to improved earnings while we remain committed to our medium to long-term strategic objectives,”  Onyeali-Ikpe said.

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Economy

Desist from Foreign Exchange malpractices, CBN warns commercial banks

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By Gistflash News

Sept 11, 2021

The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) to always observe due diligence and desist from all forms of malpractices in foreign exchange (FX) transactions.

The apex bank gave the warning in a letter by Ozoemena Nnaji, Director of Trade and Exchange Department, addressed to the DMBs.

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Nnaji urged the banks to, not only ensure to know their customers, but also to know their customers ‘ businesses.

She said  the directive was necessitated by recent occurrences in the FX market.

“The CBN wishes to remind all banks that it is their responsibility to not only know their customers (KYC requirements) but also know their customers’ businesses (KYCB requirements).

“Given this responsibility , and in view of recent occurrences in the market, the CBN will like to remind banks to desist from all forms of FX malpractices.

“We wish to reiterate that FX operating licences of any bank or banks that are found culpable with ongoing investigations will be suspended for at least one year,” the director said.

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She urged all the DMBs concerned to take note and ensure compliance. (

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