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After Wrecking Nigeria’s Economy, Central Bank Governor, Emefiele Wants To Destroy Nation Also—Youth Leader

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A Niger Delta youth leader and businessman, Richard Akinaka has lambasted the governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, over his continued denial and stay in office despite his move to join the 2023 presidential race on the platform of the All Progressives Congress, APC.
He described Emefiele as a morally weak aspirant hiding to contest for President.

He, therefore, called for the disqualification of the CBN governor.
Richard said though he has nothing against anyone with the requisite qualifications to seek political office, Emefiele vying for political office while still occupying the office of governor at the apex bank is a gross violation of ethics.
Akinaka described it as gross misconduct not needed for anyone vying for such an exalted office.
According to Akinaka, Section 9 of the CBN Act, 2007 provides that “the governor and the deputy governors shall devote the whole of their time to the service of the bank, and while holding office, shall not engage in any full or part-time employment or vocation, whether remunerated or not.”
He pointed out that “politics is a vocation and the CBN Governor is not allowed by law to engage in partisan politics. It is unthinkable that Emefiele, despite his embarrassing failures of managing the country’s economy still wants to further wreck the entire country.”

He said, “Every young Nigerian, especially those of us within the age bracket of 40 years and below, should be concerned with what is going on in this country to the extent that it should be our priority to decide the next set of leadership we desire. Because we have a great stake in this country now.
“But in the interim, what is the major issue now is the level of decadence in our public sector. The loss of value to the extent that public offices are now being driven by the whims and caprices of those who occupy them.
“I see no reason why the Central Bank Governor will be politically exposed. Though he has a right as a Nigerian to contest elections, he has a right to pursue his political aspirations but not at the expense of the office he occupies, when campaigns, billboards and branded cars and posters are everywhere about his ambition and he is denying it.

“But right now, it is on record that nomination form has been bought and according to him or media reports, it was bought by local farmers. A form worth 100 million naira! It is not true. With the level of hunger ravaging this country, I don’t think local farmers have the money to make such contributions.
“It is rather unfortunate that he cannot come out boldly to own up to his aspiration because he doesn’t want to resign from his office and this is the height of immorality and irresponsibility and for me, this alone should disqualify him.
“In any case, what does the CBN governor, Emefiele have to offer to Nigeria seeing the level of the economic woes we have in this country under his watch? What else does he have to offer this country that he has not done?
“So, I am calling on the National Assembly, as a matter of urgency, to enact a law so that people in public offices will not have the undue advantage to use government resources and influence to pursue their political aspirations. What is going on is wrong. Emefiele has a mark of honour which I know he has lost and should resign immediately and save the sanctity of that office if he wants to contest.”
A coalition of rice farmers and other crop growers had purportedly moved to drag Emefiele into the 2023 presidential race by purchasing N100 million All Progressives Congress’ presidential expression of interest and nomination forms for him.

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Wema Bank Emerges Best Performing Bank in Half year 2022

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Nigeria’s most innovative bank, Wema Bank Plc, has emerged the best performing bank in the first half of year 2022 financial year with a weighted average score of of 2.83 points, beating 12 other bank’s.

 

According to a special report on the Nigerian banking performance in the first half of 2022 prepared by Nairametrics, Wema Bank ranked first in one category, second in three categories and third in one category. Stanbic IBTC and First Bank came second and third respectively..

 

The key metrics considered in the report are total asset growth, loan book growth, profit growth, cost-to-income ratio movement, and return on average equity.

 

The 13’reviewed banks which are listed on the Nigerian Exchange posted a net profit of N1 trillion in 2021 from N887.1 billion recorded in 2020.

 

The 13 reviewed banks are Wema Bank, First Bank of Nigeria, FCMB, GTB, Jaiz Bank, Access Bank, and Stanbic/IBTC. Others are UBA, Sterling Bank, Unity Bank, Union Bank, Zenith Bank, and Fidelity Bank.

 

During the first six months of 2022, the thirteen banks posted an aggregate of N501.1 billion as profit after tax, representing an increase of 13.1% compared to N443.17 billion recorded in the corresponding period of 2021

 

The banks grew their bottom line despite headwinds ravaging the global economy as the energy crisis triggered a significant surge in the operational costs of businesses operating in the country, while some banks were forced to ration their operating hours in a bid to manage the rise in the cost of operation.

 

Wema Bank came first in the category of

Leading bank’s by customer deposits growth . The bank recorded ±30.2 percent customer deposit growth during the review period, followed by Fidelity Bank and Access Bank with +13.1 percent and +12.8 percent respectively.

 

Wema Bank came second in three other categories – total assets growth rate (+13%), loan book growth rate (+19.9%) and profit after tax growth rate {+47.8%}.

 

Stanbic IBTC , the second place winner, ranked first in total asset growth rate and leading bank’s by cost to income ratio growth rate

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Again! FCMB Lands IN Serious Trouble Over False Claim…… As Court Orders Bank To Pay N540m Damages.

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First City Monument Bank (FCMB) is in hot soup as the Federal Capital Territory (FCT) High Court has ordered the bank to pay N540.5 million in damages to Pastor Emmanuel Omale of the Divine Hand of God Prophetic Ministry and his wife, Deborah over false claim that they laundered N573 million for former chairman of the EFCC, Ibrahim Magu.

Delivering judgement in the suit, Yusuf Halilu, the judge, held that the bank breached its “duty of care to the claimants,” the Omales and their church.

The judgment was on the suit marked: FCT/HC/CV2541/2020 filed by Mr. Omale, his wife and the church.

The judge held that the evidence before the court showed that the bank admitted error in its report to the NFIU of entries in the account of Divine Hand of God Prophetic Ministry which was accused of laundering money on Mr. Magu’s behalf.

Mr. Halilu also said the bank claimed that the purported N573 million was wrongly reflected as credit entry in Divine Hand of God Prophetic Ministry’s account by its reporting system, which it recently upgraded.

The judge held that FCMB admitted the error, which brought incalculable damage to the reputation of the claimants both within and outside the Nigeria – depleting their church’s membership.

Mr. Halilu said the claimants provided sufficient evidence to establish case of negligence against FCMB.

Consequently, the judge awarded N200 million as aggravated damages; N140.5 million as specific damages and N200 million as general damages.

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More Troubles For Dangote Cement As Kogi Govt Demands 10 Per Cent Share, Orders Immediate Seal Off

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However, Dangote Cement is facing allegations of sharp practice from Kogi State government, Kogi Assembly as well as Akwa Ibom State.Already, the Kogi State House of Assembly has ordered stoppage to the activities of the company in two Local Governments in the State while investigations continue.

To make the claim possible, Kogi State House of Assembly ordered the management of Dangote Cement company to provide all necessary documents that have to do with the transfer of Obajana Cement Company owned by Kogi state government to Dangote Cement Company.

The House also directed that the documents signed at the establishment of the Company and relevant receipts of dues it claimed to have paid to Kogi State Government available at the next adjourned sitting date.

The speaker of Kogi State House of Assembly, Matthew Kolawole, gave the order after interim reports of the ongoing investigative hearing on Internally Generated Revenue (IGR) which was submitted by the ad hoc committee led by Hon. Isah Tenimu Umar, Member Representing Lokoja I Constituency and deliberated upon at the plenary on Wednesday.

Kolawole said this has become important in view of the claims and counterclaims between the Chairman of Kogi State Internally Generated Revenue Service (KGIRS) and representatives of Dangote Cement as the acting chairman of KGIRS, Salisu Enehe had earlier accused Dangote Cement Plc Obajana of forging its tax receipt during the investigative hearing by the State House of Assembly.

According to the State Revenue Boss, most of the figures the company claimed to have paid are totally incorrect, urging the company to check its record.

He added that despite the billions of Naira that company is making from the state monthly, it has failed to pay taxes that are due to the state and Lokoja Local Government Area.

Nigerians Getting ₦1,593,247 Per Week From ₦99,000 Investment in Amazon
Nigerians Getting ₦1,593,247 Per Week From ₦99,000.

In another development, Following the unrestrained environmental degradation in Ankpa and Olamaboro local government areas, Kogi state House of Assembly on Wednesday, directed the Commissioner of Police and Commandant of the Nigeria Security and Civil Defence (NSCDC) to seal off operations of Dangote Plc in the affected areas of the State.

The House gave the order during a public hearing on activities of Dangote Group in the state, especially on the the massive exploitation , environmental degradation and non compensation to the affected owners of the land and without revenue accruing to the state government.

The Speaker, Kogi state House of Assembly, Mathew Kolawole, charged the NSCDC commandant to ensure immediate implementation pending when the ad hoc committee on revenue clarifies some grey areas. Kolawole, who lamented the environmental degradation caused by mining activities on Kogi by the Dangote group and its subsidiaries, accused the multi national business concern of making billions in the state but yet fails to give back to it.

Akwa Ibom is also finding it difficult to collect its entitlement from the Dangote Group. According to reports from the place, the Itu Local Government blocked Dangote premises with their trucks because the company has refused to pay tax for more than two years despite pleas and series of warnings.

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