Aliko Dangote, billionaire businessman and Mike Adenuga, oil and telecoms mogul, have topped Forbes’s list of world’s black billionaires for the year 2019.
In the American business magazine’s 13 richest black people on earth list, which has four Nigerians on it, the president of Dangote Group clinched the first position with a fortune estimated at $10.9 billion.
According to Forbes, Dangote’s fortune was made from sugar, cement and flour production. He is also on the verge to launch a private oil refinery in Nigeria which will have a refining capacity of 6500,000 barrels a day and is expected to reduce the country’s dependence on oil imports.
In second place was Adenuga, founder of Globacom, a Nigerian mobile telephone outfit, with an estimated fortune of $9.1 billion.
Aside from being the founder and sole owner of Globacom, which has more than 40 million subscribers in Nigeria and neighboring African countries, Adenuga also built his fortune in oil. He owns Conoil, one of Nigeria’s first indigenous oil exploration companies in the early 90s.
Third on the list for Nigerians is Abdulsamad Rabiu, founder of BUA Group, a Nigerian conglomerate with interests in sugar refining, cement production, real estate, steel, port concessions, manufacturing, oil gas and shipping. He is worth an estimated $1.6 billion.
Folorunsho Alakija, Nigeria’s first female billionaire and the founder of Famfa Oil, also made the list with an estimated fortune of $1.1 billion.
Below are names of the 13 richest black people on earth:
- Aliko Dangote – Nigerian ($10.9 billion)
- Mike Adenuga – Nigerian ($9.1 billion)
- Robert Smith – American ($5 billion)
- David Steward – American ($3 billion)
- Oprah Winfrey – American ($2.5 billion)
- Strive Masiyiwa – Zimbabwean ($2.4 billion)
- Isabel Dos Santos – Angolan ($2.3 billion)
- Patrice Motsepe – South African ($2.3 billion)
- Michael Jordan – American ($1.9 billion)
- Michael Lee-Chin – Canadian ($1.9 billion)
- Abdulsamad Rabiu – Nigerian ($1.6 billion)
- Folorunsho Alakija – Nigerian ($1.1 billion)
- Mohammed Ibrahim – Sudanese-British ($1.1 billion)
The list was extracted from Forbes’ list of the World’s Billionaires in 2019, which has 2,153 people.
(The Cable )
Some of the most renowned indigenous and international polo teams are set to convene in Lagos, Nigeria to compete for highly coveted trophies in the 2019 Lagos Int’l Polo Tournament. Sponsored by leading African Financial Institution, Guaranty Trust Bank Plc. This year’s competition will begin on March 13, 2019, and will see both Nigerian and foreign teams compete in five main cups, namely; the Silver Cup, Open Cup, Oba of Lagos Cup, Low Cup and Majekodunmi Cup.
Over the years, GTBank has been at the forefront of supporting Polo; widely revered as the Sport of Kings, and promoting the Lagos International Polo Tournament, which has hosted reputable personalities such as His Royal Highness the Prince of Wales. Played on the grounds of the Lagos Polo Club, Ikoyi, the premier polo club in the country, the tournament has featured polo greats like Alphonso Pieres, Gonzalo Pieres, and Alan Kent, and promises to provide top class action and entertainment for all polo lovers.
Some of the players expected to light up this year’s tournament include Tomas Fernandez Llorente, a seven-goaler from Argentina; South Africa’s Tom De Bryune +6; and Diego White a +6 handicap player from Argentina. Other professionals expected include Chris Mckenzie +6, Pedro Soria, Leroux Hendrix, and Martin Waiganjo. Polo enthusiasts will also be treated to a variety of activities ranging from thrilling performances by music stars to an exquisite experience at the exclusive GTBank Lounge where guests will be treated to epicurean cuisine and vintage wine.
Commenting on GTBank’s sponsorship of the 2019 NPA Lagos International Polo Tournament, Segun Agbaje, Managing Director of Guaranty Trust Bank plc, said; “We love the game of polo, the passion and the symbiosis between the players and their horses, but most importantly, we hold a strong affinity to the sport of kings because it reflects quality, competitiveness, and fair play; some of the values that have made GTBank a Proudly African and Truly International Financial Institution.” He further stated that; “Our sponsorship of the 2019 NPA Lagos International Polo Tournament, which has grown over the years to become one of the most anticipated social and sporting events of the year, demonstrates our strong belief in the role of sports in developing and uniting our society.”
Guaranty Trust Bank plc is one of the few Nigerian financial institutions that have maintained a defined Corporate Social Responsibility (CSR) strategy, most especially in sports education. The GTBank Masters Cup, as well as the Principals Cup tournaments in Lagos and Ogun states, are some of the projects the bank has taken up in this regard.
Seventy political parties under the auspices of Coalition of Registered Political Parties (CRPP) have adopted the governor of Enugu State, Rt. Hon. Ifeanyi Ugwuanyi as their consensus candidate for the forthcoming March 9 governorship election in Enugu State.
John Nwobodo, leader of the group, who disclosed this on Wednesday in Enugu said that the move was a reinforcement of their earlier endorsement of the governor in 2018.
According to him, the group then consisting of 34 registered political parties endorsed the governor due to his performance. He added that the number had risen to 70.
He said that the ideology and policy thrust of the Ugwuanyi-led administration were in tandem with those of the concerned political parties, which necessitated the endorsement.
In his words, “We voted at our party levels to collapse our campaign structures and team up and have the governor as our sole candidate”.
He went further to say that they had directed their members across the state to mobilise support for the re-election of the governor, adding that they would speak with their Permanent Voter Cards on election day.
“In an occasion like this, we cannot fail to acknowledge the giant imprints of the governor in the state. He has touched lives more than all the previous administrations put together.
Nwobodo continued, “From building durable roads to providing affordable housing and qualitative health care, he has created amazing opportunities for our young ones.
The governor has provided us with employment in education, health, judiciary, agriculture and in other critical sectors”.
The leader of the group said that the intervention of the governor in small businesses and the provision of seed capital for young entrepreneurs were unprecedented.
He therefore called on residents of Enugu State to come out en-masse on Saturday, March 9 and perform their civic responsibility.
Gbenga Daniel, a former Governor of Ogun State and Director General of the Atiku Abubakar presidential campaign organisation, has directed the supporters of the Peoples Democratic Party (PDP) in Remo, Ogun State, to vote for Dapo Abiodun, governorship candidate of the All Progressives Congress (APC) in Ogun State.
Daniel made this known in a statement he issued on Thursday.
The PDP governorship candidate in Ogun State is Buruji Kashamu.
However, Kashamu’s candidature, which was affirmed by a court ruling in January, did not sit well with the national leadership of the party, which presented Ladi Adebutu as its preferred candidate in the state. A court ruling on Wednesday then reaffirmed Kashamu’s candidature.
Making reference to Wednesday’s ruling, Daniel said: “You would have noticed my studied silence in our local politics in recent times. I have busied myself with national politics, having served the state for eight years.
“I have also been very busy supporting the ambition of the son of our great philanthropist in Remoland to become the next Governor of our dear state. You, however, would have become aware of the court decision yesterday which did not favour him.
“Going forward, I have directed all our Structures statewide to cast all their votes on Saturday for Prince Dapo Abiodun, another bona fide Remo son despite current party differences. I therefore, enjoin all to please go and cast your vote on Saturday for Dapo Abiodun in the overall interest of our people.”
A former aide to ex-President Goodluck Jonathan, has lamented how his friend for 20 years, Sola Atere, alleged bore false witness against him in court.
Sola Atere is an EFCC witness, in the ongoing trial of Doyin Okupe over N200 million.
Atere had on Wednesday told the Federal High Court Abuja that he did not sign any budget proposal for the programme “Insight” on the Nigeria Television Authority, NTA.
Atere, a former Executive Director of News, said this under cross-examination by Mr Joe Gadzama, SAN.
Atere, said: ”I had no financial relationship with the programme and I never collected money from the office of the first defendant for the programme.
“The producer will be in a better position to speak on this.”
Doyin Okupe took to Facebook page to lament Atere’s witness, saying, “I have seen many things in my life.
“I saw another today. My friend of 20yrs, Sola Atere, former staff of NTA, sat in the witness box opposite me in the dock and lied deliberately and denied an acknowledgement letter of receipt of payment by me signed by him.
“If the truth is hidden before the earthly Judge, it cannot be hidden from the All-knowing God Jehovah who is a righteous God. He will Vindicate me. But He will judge the wicked.”
LaLiga table toppers and defending champions, Barcelona, will on Saturday, seek to continue their march to yet another title when they take on relegation-threatened Rayo Vallecano at the Camp Nou. The match is one of Week 27 matches to air live exclusively to GOtv MAX subscribers.
The match will be air at 6.30 pm on SuperSport Select 4 (channel 34). Barcelona is currently on a hot streak; last week, the defending champions defeated their fierce rivals, Real Madrid, 3-0 away from home in the El Clasico, following an earlier 1-0 victory over the same opponents in the Copa del Rey semi-final, also at the Santiago Bernabeau. Barcelona will hope to win their 19th match of the season and maintain a seven-point lead over second-placed Atletico Madrid. Vallecano could not have had more difficult opponents after the home battering in the hands of Girona in their last match, their fifth loss in as many matches. They have also conceded 45 goals, an unwanted tally the rampaging Barcelona frontline of Lionel Messi Luis Suarez and Ousmane Dembele are well placed to increase.
Second-placed Atletico Madrid is in action on Saturday when they host 11th-placed Leganes in what is expected to be a tough game. The match will be live at 4:15 pm on SuperSport Select 4.
The Madrid-based team has regained form after a mini-slump, which saw them lose to Real Betis and Barcelona. Manager Diego Simeone will bank on Antoine Griezmann and last week’s two-goal hero Alvaro Morata, on loan from Chelsea, to deliver the goods.
However, Leganes, who are punching above their weight this season, have won four of their last eight matches and are playing some eye-catching football after their near-catastrophic campaign last season. They are managed by Mauricio Pellegrino, one of the rising stars on the European coaching circuit.
On Sunday, Real Madrid, who are currently distressed, will hope to begin their recovery from back-to-back home defeats in the hands of Barcelona and UEFA Champions League exit in the hands of Ajax Amsterdam when they confront Real Valladolid away from home. The El Clasico loss to Barcelona has left them trailing the Catalan side by 12 points. They will, however, be motivated by the possibility of picking up Spain’s final automatic UEFA Champions League ticket. Real Madrid manager, Santiago Solari, who is under immense pressure, has a chance of getting some respite from 16th-placed Valladolid, who have lost four of their last five games and are struggling to maintain their top-flight status. The match will air live at 8:45 pm on SuperSport Select 4.
The round gets underway on Friday with the clash between Athletic Bilbao and Espanyol. It will air at 9 pm on Friday on SuperSport Select 4.
Games on Saturday include Alaves vs Eibar and Getafe vs Huesca, at 1pm and 8:45pm respectively, both on SuperSport Select 4. Games for broadcast on Sunday are Celta Vigo vs Real Betis, at 12pm, Girona vs Valencia at 4:15pm, Sevilla vs Real Sociedad, at 6:30pm and Levante v Villareal at 6:30pm. All matches will air live on SuperSport Select 4 (channel 34) the home of LaLiga on GOtv.
GOtv subscribers are encouraged to take advantage of the “Top Up” campaign and upgrade to GOtv MAX by paying a reduced fee of N2, 500 to gain access to all the exclusive football games on GOtv Max.
- Reports Profit before Tax of ₦215.6 Billion
Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2018, to the Nigerian and London Stock Exchanges.
A review of the results shows positive performance across all financial metrics and improved strategic positioning of the brand. Gross earnings for the year grew by 3.7% to ₦434.7billion from ₦419.2billion reported in December 2017. Profit before tax stood at ₦215.6billion, representing a growth of 9.1% over ₦197.7billion* recorded in the corresponding year ended December 2017. The Bank’s customer deposits increased by 10.3% to ₦2.274trillion from ₦2.062trillion in December 2017, however, loan book dipped by 12.9% from ₦1.449trillion recorded as at December 2017 to ₦1.262trillion in December 2018.
In view of the above, the Bank closed the 2018 financial year with Total Assets of ₦3.287trillion and Shareholders’ Funds of ₦575.6Billion. In terms of Assets quality, NPL ratio and Cost of Risk improved to 7.3% and 0.3% in December 2018 from 7.7% and 0.8% in December 2017 respectively. In addition, the coverage ratio for NPL stood at 105.1% and Capital adequacy ratio remained very strong, closing at 23.4% despite the implementation of IFRS 9. On the backdrop of this result, Post Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 30.9% and 5.6% respectively. The Bank is proposing a final dividend of ₦2.45k per unit of ordinary share held by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2018 financial year to ₦2.75k per unit of an ordinary share.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said; “In 2018, our focus on staying nimble, strengthening customer relationships and driving our digital-first strategy paid off. We successfully navigated the pressures of our challenging and radically changing business environment, recorded growth across key financial indices and reaffirmed our position as one of the best performing and well managed financial institutions in Africa.
He further stated that; ‘This result reflects, not just the fundamental strength of our brand, but also our commitment to our values of excellence, creating value for all stakeholders and putting our customers first in everything that we do. Driven by these values, we are building the bank of the future by pairing the best of our business with the massive potential of digital technologies to create Africa’s first integrated and trusted platform; Habari.
GTBank has continued to report the best financial ratios in terms of profitability, efficiency and capital for a Financial Institution in Nigeria as revealed by its return on equity (ROAE) of 30.9%, a cost to income ratio of 37.1% and capital adequacy of 23.4%. These ratios are a testament to the efficient management of the Bank. In recognition of the Bank’s bias for world-class corporate governance standards, excellent service delivery, and innovation, GTBank has been a recipient of numerous awards over the years. Some of the Bank’s awards in 2018 include Bank of the Year – Nigeria from the Banker Magazine, Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine, Most Innovative Bank from the African Investor, and Best Digital Banking Brand in Nigeria from the Global Brands Magazine.
Shareholders of Access Bank Plc and Diamond Bank Plc, on Tuesday, unanimously approved the merger of both financial institutions aimed at creating a formidable force.
The shareholders gave the approval at an Extraordinary General Meetings (EGMs) of both banks held in Lagos.
Mr Herbert Wigwe, Access Bank Chief Executive Officer, told the shareholders at the EGM that the merger with Diamond Bank enables Access Bank to acquire a bank with 17 million retail customers and the most viable mobile payment platform.
Wigwe said that the expected revenue and cost synergies were material and promises significant long term value.
Wigwe said the bank, after the merger, would attract more opportunities such as trade finance from international partners.
“With the final merger of both banks and the status of the resulting entity as ‘the largest bank in Africa’s largest economy,’ this greatly bolsters the bank’s brand, opening doors of opportunity both in local and international markets,” he said.
Wigwe said the merger was expected to produce the largest banking group in Africa based on its number of customers with more than 29 million customers.
“The resulting entity which will maintain the brand name Access Bank, but with Diamond Bank colours, will have more than 29 million customers, 13 million of which are mobile customers,” he said.
Wigwe said the bank would be a continental force with presence in 12 countries, 3,100 ATMS and nearly 32, 000 Point of Sale.
“As a continental financial force, it is set to attract more opportunities such as trade finance from international partners seeking multinational lenders with local intelligence,” he said.
He said Diamond bank merging with “Access Bank also means, the former’s customers can enjoy access to the latter’s strong balance sheet, ubiquitous presence and solid operational structure.”
“Diamond Bank has formidable retail business with the largest retail customer base in Nigeria – over 17 million customers. Diamond Bank also has a track record of customer acquisition and low cost liabilirties generation.
“The enlarged Access Bank will serve 27 million retail customers, almost double the number customers of any other bank in Nigeria and more than any other bank in Africa, “ Wigwe said.
He noted that the enlarged Access Bank’s breath scale and product range will further accelerate the financial inclusion agenda that Access Bank and Diamond Bank had pursued separately.
Wigwe, however, assured enlarged shareholders of the bank that dividend would be more robust and consistent after the exercise.
Mr Adebayo Adeleke of Independent Shareholders Association (ISAN) commended the management of Access Bank for not shortchanging shareholders on the scheme of the merger.
“Quiet a lot of commendable things have been put in place and we hope court will have no other reason not to agree on the merger,” Adeleke said.
Adeleke said that the shareholders were in support of the plan that would give birth to one of the largest bank in Africa.
“We are here to make sure we sanction this wedding and hope to see a marriage of a formidable force,” he said.
He said that shareholders would want to see the birth and growth of new bank that would take challenges and takeover the entire world.
To the President, Trusted Shareholders’ Association of Nigeria (TSAN), Alhaji Muktar Muktar, “we thank Access Bank for saving us from Diamond Bank by giving us a good deal.
Muktar said that the bank gave them the best deal which was above Diamond Bank price on the Nigerian Stock Exchange. Sir Sunny Nwosu, National Coordinator (Emeritus), ISAN, who also commended Access Bank for the merger, called for special dividend to cushion the effects of dilution on shareholders.
Nwosu said integration would not be a problem for Access Bank because it had managed many “marriages” in the past.
Firefighters were left stunned by what they saw when they arrived at Freedom Ministries Church in Grandview, West Virginia where a devastating fire was ravaging through the building. The fire so hot that firefighters had to back out at one point.
According to the Coal City Fire Department, as they went through the charred wreckage, they noticed something extraordinary.
“In your mind, everything should be burned, ashes. Not a single bible was burned and not a single cross was harmed!!” the department wrote in a Facebook post, which immediately went viral as they shared photos of a pile of about a dozen intact Bibles surrounded by the rubble.
No firefighters were injured in the operation and the cause of the fire is still unclear.
“On March 3 around 12:58am our department was dispatched to assist Beaver VFD with a structure fire at the Freedom Ministries Church, located in Grandview WV. Though odds were against us, God was not.
Picture this, a building so hot that at one point in time, firefighters had to back out. In your mind, everything should be burned, ashes. Not a single bible was burned and not a single cross was harmed!! Not a single firefighter was hurt! Prayers for the pastor and the congregation today” the post read.
Volvo and a Singapore university unveiled a driverless electric bus on Tuesday that will soon undergo tests in the city-state, the latest move towards rolling out autonomous vehicles for public transport.
High-tech Singapore has become a testbed for self-driving technology and the world’s first driverless taxis went into operation in a limited public trial in the country in 2016.
Swedish automaker Volvo Buses and its local partner Nanyang Technological University (NTU) unveiled what they described as a full-size autonomous electric bus and said the vehicle would soon start trial runs in the university’s sprawling campus.
Volvo Buses president Hakan Agnevall said the vehicle was “an important step towards our vision for a cleaner, safer and smarter city”.
The vehicle is 12 metres (39 feet) long with a full capacity of close to 80 passengers.
It uses 80 per cent less energy than a diesel bus of a similar size and is equipped with sensors and navigation controls managed by an artificial intelligence system, the statement said.