There is panic amongst residents in Abuja and its environ as the Association of Resident Doctors (ARD), Abuja chapter, on Tuesday announced its decision to proceed on an indefinite strike over non-payment of their outstanding salaries and allowances. This is coming even as the Lagos state government confirmed a third case of coronavirus (COVID-19) in the state on Tuesday.
The doctors said they deliberated extensively on the health threat posed by the coronavirus scare, their work conditions, and patient care before arriving at the “difficult decision.”
In a statement signed by its president, Roland Aigbovo, the association said the mass action followed the failure of the FCT administration to pay them their basic salaries for more than two months.
Mr Aigbovo said their members have been thrown into financial distress due to the nonpayment of their salaries and despite repeated warnings and ultimatum, nothing has been done by authorities.
He said there has been salary irregularities and shortfalls since the migration to the Integrated Personnel and Payroll Information System by the FCTA.
The union leader said other health workers who are also affected by the salary shortfalls will join the mass action within 48 hours if their demands “which are the same with ours are not met.”
The Lagos state government has confirmed a third case of Coronavirus (COVID-19) in the state.
Akin Abayomi, the state’s commissioner of health, disclosed this at a press conference, on Tuesday.
This development comes days after the state government confirmed that the second case was now free of the virus.
The new case is said to be independent of Nigeria’s index case, the Italian who travelled from Milan to Lagos in February, and a 30-year-old female Nigerian who returned from the United Kingdom on March 13.
The new patient was said to have observed self-Isolation during which the symptoms developed.
She tested positive for the disease after tests were conducted and is currently at a mainland general hospital receiving treatment.
Twenty-seven African countries have recorded cases of COVID-19, the latest being Benin, Liberia, Somalia and Tanzania.
However, The Lagos State Ministry of Health has identified British Airways as the airline that brought in the latest and third case of Coronavirus into the state.
It has thus called on all passengers on the flight to self-isolate themselves for 14 days.
The State Commissioner for Health, Prof. Akin Abayomi, revealed this on the Twitter handle of the Ministry.
Abayomi identified the flight as BA 75, which flew into the Murtala Muhammed International Airport, Lagos on March 13.
He also gave lines the passengers can call for help.
He said: “Breaking! #COVID19Lagos Updates. “
If you are a passenger on flight BA 75 that arrived in Lagos on 13th March, 2020, stay at home and isolate yourself for 14 days.
“Call @LSMOH hotlines now; 08000corona, 08023169485, 08033565529, 08052817243, 08028971864, 08059758886, 08035387653.”
The latest case has been identified as a 30-year-old female.
A Federal High Court sitting in Lagos south west Nigeria has adjourned for continuation of trial, the N7,274,75,000 billion suit instituted against Wema Bank Plc by its former Managing Director Jeremiah Adebisi Omoyeni over his alleged illegal removal from office.
In a quest to redress the alleged illegal termination of his appointment, the former boss of Wema bank Plc, Jeremiah Adebisi Omoyeni, in a sworn affidavit filed before the court alongside his statement of claim averred that, he joined the services of the bank in 1987 as officer vi being entry-level for fresh graduate then.
In the sixty -eight years history of the bank as at the time of filing this suit then he had the most rapid promotion as an employee with one promotion per year for eight years, one promotion in two years only once and a double promotion from assistant General manager to Manager grade thereby by-passing the deputy General Manager grade to become a general manager in August 1998.
He stated that his promotion was sequel to hard work, dedication to duty, unflinching loyalty to constituted authority and exemplary leadership style he exhibited in the discharge of his duties. In addition throughout the twenty -one years of service period he had with the bank, there was no single occasion where he was queried or cautioned on any act of financial impropriety or misdemeanour.
He stated further that he served as an executive Director of the bank for six years before his appointment as the Deputy Governor of Ekiti state of Nigeria, however upon the intervention of major stakeholders of the bank led by Board members of Odd’a Group of companies, he was persuaded to resign from the higher office of the Deputy Governor of Ekiti State, and return to the services of the bank in December 2005.
The plea for his return to the services of the bank’s service was essential to ensure that the bank which was then in crisis was not liquidated due to the fact that it was just less than a month for the bank consolidation exercise to lapse.
Pursuant to the request of the Board of Odua group and upon his return to the services of the bank he was duly appointed the managing Director /Chief Executive of the bank, and with his eighteen days in office he was able to conclude the consolidation exercise of the bank in line with directives of the Central Bank of Nigeria, otherwise, the bank would have been liquidated at 31st of December, 2005, and since his return to the bank, the profile of the bank continues to rise in all parameter.
In accordance with the bank’s conventional practice, if he be disengaged from the office at the instance of the bank before attaining the normal retirement age of sixty his total emoluments the nominal retirement age of sixty, his total emoluments as at the time of disengagement up to the retirement age of sixty shall be converted and monetized and duly paid to him.
Consequently, he shall contend at the trial that he is entitled to payment of N1,516 250 000 being his total emoluments for ten years as he was disengaged from the services of the bank at the age of fifty years.
Sometimes between late 2006 and early 2007 the then board of the bank discovered some persons including certain officials of the Central Bank of Nigeria with vested interest in the bank and had perfected plans put in motion adequate measures at ensuring the grounding and eventual liquidation of the bank with view to buying it over by themselves or sell it over to their cronies at ridiculously low rate.
Pursuant to that discovery the then board of the bank pass a resolution directing the then Chairman of the board to petition the then the president of the Federal Republic of Nigeria of the unbecoming attitude and conduct of One Tunde Lemo, who at a point in time was the Managing Director of the bank and was then the Deputy Governor (financial surveillance) of the CBN in unduly interfering with the running and administration of Wema bank.
As a result of these unwholesome and unwarranted crises injected into the bank by these persons with vested interest and which crises resulted into several lawsuits and impasse in the running and management of the bank the CBN under the leadership of Professor Chukwuma Soludo as the then the Governor of CBN on the 18th of November 2008 placed him on an indefinite suspension under the guise of giving NDIC opportunity to undertake routine examination of the bank’s books of account.
His suspension from office was without regards and utter disobedience to subsisting order of the court and the directive of the Attorney General of the Federation and minister of justice.
Thereafter he made a former complain to the President of the Federal Republic of Nigeria, while in the same vein a board member of the bank Chief Wole Olanipekun SAN who was not satisfied with the action of the CBN Governor and with persons with a vested interest in the bank in unduly interfering with the running and management of the bank, also petitioned the then President complaining of what was transpiring in the bank,
Similarly members of the board of the bank also petitioned the president of the Federal Republic of Nigeria.
Further to the above and in a bid to resolve the prolonged crises several meeting of the stakeholders were held culminated into successful negotiation and execution of the memorandum of understanding.
However, contrary to all expectations and in apparent breach of the terms of the memorandum of understanding, the central bank of Nigeria through the then Governor of the apex bank, without complying with the law and acting in breach of natural justice and fear hearing purportedly issued a press release on 4th September, 2008 with a view to removing him from office, thereafter Wema bank in a bid to give legal backing to the illegal acts of CBN vide its letter of 23rd October, 2008 resolved to terminate his appointment with the bank.
The plaintiff is contending that the purported termination of his appointment with the bank is illegal, unconstitutional, null and void and offends the provisions of the company and Allied Matters Act CapC. 20 law of the Federation of Nigeria 2004,constitution of the Federal Republic of Nigeria 1999,and the memorandum and Article of Association of the bank.
The plaintiff is contending further that, the unlawful termination of his appointment has adversely affected, tarnished, and reduced his reputation and standing generally and particularly in the banking industry both nationally and internationally due to the fact that the entire episode leading to the termination was caused to be published in several Nigerian newspapers and other media international circulation by the bank.
Consequently, his claims against the bank are as follows
The sum of N758,125,000 being the amount due and owing to him as at date for his illegal and unwarranted removal from office by the bank.
The sum of N1,516,250,000 being his total emoluments for ten years having been relieved of his employment by the bank at the age of fifty, ten years before attainment of the retirement age of sixty.
Interest on the two sums above at the rate of 21% per annum.
General damages in the sum of N5billion.
Cost of this legal action.
However, in a statement of defence and counterclaim filed before the court by Wema bank Plc, the bank denied almost all the claim of Mr Omoyeni, and alleged that his tenure in office was marred by financial improprieties and gross abuse of the rule of corporate governance.
Mr Omoyeni was also alleged to have failed to withdraw all the lawsuits filed by him and his cronies as contained in the memorandum of understanding to pave way for his recall when he was suspended, rather he forcefully took over office as the Managing Director of the bank.
Consequently, the Governor of Central bank on 4th of September, 2008 in the exercise of its statutory powers under the bank and other financial institutions Act BOFIA removed him from office as Managing Director /Executive officer of the bank, therefore, the bank cannot by its action or inaction override or act to its regulatory authorities.
In its counterclaim, the bank alleged that the former managing Director utilized N450million, the said upfront /amortised housing allowance was not authorized by the board of Directors of the bank.
The bank magnanimously wrote off N35,365,76910.of his indebtedness while his entitlement of N35,922,607.35 was deducted from his total outstanding indebtedness of N390,920,908.50 to arrive at the sum of N364,998,307.15.being the debit balance of the plaintiff account with the bank as at 26th of May, 2009 which he has refused to pay.
The bank is counterclaiming against the plaintiff for payment of the debit balance of N364,998,307.15 as at 26th May 2009 with an interest of 20% per annum until judgment and thereafter 10% until the same is liquidated.
The Speaker, Lagos House of Assembly, Mr Mudashiru Obasa, has insisted that there was no going back on the suspension of the four lawmakers for allegedly leaking the N2.4 billion vehicle documents to the public.
Obasa made this known following a petition against him on gross financial misconduct, criminal breach of public trust and abuse of office by the suspended lawmakers.
The speaker declared that if those who had been disciplined by the House were responsible “for what was being spread all over the place”, the committee set up on the issue should be dissolved.
The suspended lawmakers include former Chief Whip, Rotimi Abiru (Shomolu II), former Deputy Majority Leader, Olumuyiwa Jimoh (Apapa II), Moshood Oshun (Lagos Mainland II) and Raheem Adewale (Ibeju-Lekki II).
Mr Buna Olaitan Isiak, Executive Director, Human Rights Monitoring Agenda (HURMA), had on March 12 claimed that popular demand necessitated the petition against the speaker.
Isiak said the petition was written to acquaint the Economic and Financial Crimes Commission (EFCC) with gross financial misconduct and abuse of office being perpetrated by the speaker.
The petitioner said EFCC should begin thorough investigation to “avert a further bleeding of the public treasury under his care and restore sanity in the functioning of the state’s legislative establishment”.
Obasa, during the plenary, explained that the petition against him was not about the official vehicles, but the backup vehicles and the money spent to purchase them.
“The official vehicles for the 9th Assembly was the issue. It was a deliberate action to paint the House in bad light.
“The people that stole the vouchers that were leaked to the press is the issue.
“I thank you for all you have said about the petition. We have discussed issues relating to divulging discussions in the House.
“I said that the issue that came out in the Guardian Newspaper is traceable to one of the suspended lawmaker, Mr Moshood Oshun.
“He was asking me for documents of the vehicle given to him, he was the one that called me on the telephone that his vehicle was seized by Customs Officer.
“I once said that someone stole the vouchers of the vehicles. Where did he get it from if not for the role played by a member of the House?
“The writer of the petition is close to Rep. Olumuyiwa Jimoh. Some of the things he wrote were parts of what we have discussed,” he said.
Earlier, Mr Rotimi Olowo, (Shomolu II), who moved a motion on the issue of the petition on Monday under Matter of Urgent Public Importance, said it was malicious and against the image of the House.
“The House bought vehicles worth N2.4 billion. Since I joined the House of Assembly, we always got two vehicles before the end of the assembly.
“In 2007, I got a vehicle and a backup vehicle before the end of the assembly.
“The vehicles are always budgeted for, and it has been like that right from the time of the former Speaker, Adeyemi Ikuforiji.
“We always told the Speaker that the 8th Assembly could not wind up without a backup vehicle.
“The Speaker used to tell us that the resources were not available, and we later got the backup in April 2019.
“In the 9th Assembly, we just got our official vehicles in November/December 2019.
“None of the 11 new members got two vehicles. We insisted on LandCruiser Prado and Mr Speaker did not want to give us, but we insisted on it.
“We are all beneficiaries of the largesse, and yet we go about making insinuations and leaking information to the whole world,” he said.
Olowo then moved that having appreciated Obasa to be a democratic, responsible and a reliable leader, a vote of confidence should be passed on him and this was supported by majority lawmakers with the raising up of their hands.
The lawmakers unanimously passed a vote of confidence on the Speaker over issues relating to the purchase of vehicles worth N2.4 billion for the members of the assembly.
This was also supported by all lawmakers, who spoke on the matter and agreed that the speaker was on the right path.
The lawmakers added that they all took the decision on the purchase of the cars together.
Shareholders of Zenith Bank Plc, on Monday, at the 29th Annual General Meeting of the Bank held at the Shehu Musa Yaradua Centre, Abuja unanimously approved the proposed final dividend of N2.50 per share, bringing the total dividend payment for the 2019 financial year to N2.80 per share with a total value of N87.9 billion. This followed the recent release of the Bank’s audited financial results for the 2019 financial year.
According to the audited financial results for the 2019 financial year, Zenith Bank recorded a profit after tax (PAT) of N208.8 billion, an increase of 8% from the N193 billion recorded in the previous year, thus achieving the feat as the first Nigerian Bank to cross the N200 billion mark.
The Group also recorded a growth in gross earnings of 5% rising to N662.3 billion from N630.3 billion reported in the previous year. This growth was driven by the 29% increase in non-interest income from N179.9 billion in 2018 to N231.1 billion in 2019.
Fees on electronic products continue to grow significantly with a 108% Year on Year (Y-o-Y) growth from N20.4 billion in 2018 to N42.5 billion in the current year. This is a validation of the bank’s retail transformation strategy which continues to deliver impressive results.
Profit before tax also increased by 5% growing from N232 billion to N243 billion in the current year, arising from topline growth and continued focus on cost optimisation strategies. Cost-to-income ratio moderated from 49.3% to 48.8%.
The drive for cheaper retail deposits coupled with the low-interest yield environment helped reduce the cost of funding from 3.1% to 3.0%.
However, this also affected net interest margin, which reduced from 8.9% to 8.2% in the current year due to re-pricing of interest-bearing assets. Although returns on equity and assets held steady YoY at 23.8% and 3.4% respectively, the Group still delivered an improved Earnings per Share (EPS) which grew 8% from N6.15 to N6.65 in the current year.
The Group increased its share of the market as it secured increased customer deposits across the corporate and retail space as deposits grew by 15% to close at N4.26 trillion. Total assets also increased by 7% from N5.96 trillion to N6.35 trillion. The Group created new viable risk assets as gross loans grew by 22% from N2.016 trillion to N2.462 trillion.
This was executed prudently at a low cost of risk of 1.1% and a significant reduction in the non-performing loan ratio from 4.98% to 4.30%. Prudential ratios such as liquidity and capital adequacy ratios also remained above regulatory thresholds at 57.3% and 22.0% respectively.
In recognition of its track record of excellent performance, Zenith Bank was voted as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co. The Bank was also recognised as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards.
Most recently, the Bank emerged as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the recently released Banker Magazine “Top 500 Banking Brands 2020”, the Best Bank in Nigeria 2020 in the Global Finance World’s Best Banks Awards 2020, and the Bank of the Decade (People’s Choice) at the Thisday Awards 2020.
In the bid to put the Nigerian media monitoring and measurement industry on the map, P+ Measurement services, a leading measurement and evaluation agency in Nigeria has invited a list of Communications and Measurement professionals around the globe to her 15th Edition of #EvaluatePR event.
The event themed “Measurement and Evaluation in today’s PR world“, allows the engagement of experts in the PR, Communications, and Measurement Industry in a Question & Answer session, to share their experiences, advise, insights and quotes on Measurement and Evaluation.
The event will be featuring: Biju D. Vincent, Media Monitoring & Intelligence, CEO at DigiMent Research; Gilbert Alasa, Lead Consultant, at Osmosis Africa; Kamal Bhatia, a PR Measurement & Director of Media Analysis with B&W Analysis; and Suziette Ukey, Marketing Communication Professional & Head, Online Public Relations unit at WhiteOlive Christian Assembly.
The one-hour event holding between 2pm – 3pm NG is scheduled to take place, Friday, 27th March 2020. To join in the conversation, use the hashtag #EvaluatePR
For enquiries send an email to email@example.com with the Subject #EvaluatePR
Customers on DStv Family & Access as well as GOtv Plus can now watch the Ultimate Love reality show 24/7 on DStv channel 198 and GOtv channel 29.
Active customers on these packages get to be a part of the conversation and also experience what the show has to offer such as the Cultural Festivals, Aunty’s One-on-One sessions, Couples’ Master Classes, X-Party on Friday Nights, the live Sunday Nominations and Check-Out shows.
“After an increase in requests from customers on these packages requesting to watch the Ultimate Love reality TV show, we are delighted to announce that our DStv Family, DStv Access and GOtv Plus subscribers will now have access to the show. Customers on these packages can stay active or reconnect to follow the journey of the Love Guests,” said Chief Customer Officer, MultiChoice Nigeria, Martin Mabutho.
To enjoy the show, customers can reconnect on either of these packages; DStv Family, Access or GOtv Plus. Visit www.dstvafrica.com or www.gotvafrica.com and download MyDStv or MyGOtv Apps to get connected.