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Finally, Zenith GMD bows out in style

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Dr Ebenezer Onyeagwu’s appointment as the group managing director/CEO of Zenith Bank Plc., in June 1, 2019, through his tenure that ends in June 1, 2024, coincided with significant global disruptions that vanquished traditional business playbooks.

 

The unprecedented economic conditions wrought by the global pandemic, seismic shifts on the global scene mirrored by European and North America’s new nationalism, Sino-America tensions and ongoing Russo-Ukranian conflict which continue to impact diverse planetary business eco-systems can easily be recalled.

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Through the enervating storm, Zenith Bank-led Onyeagwu remained a focused turf player and a powerful financial services sector entity which has indeed earned its glittering stripes. Onyeagwu clearly brought to his job astute strategic thinking, inspirational leadership, energetic and consummate entrepreneurial skills.

demonstrably a leader in the deployment of various channels of banking technology, and the Zenith brand has become synonymous with the deployment of state-of-the-art technologies in banking.

Built upon the three principles of people, technology and service, the optimisation of experience and satisfaction across its vast customer base inspires Zenith Bank’s digitalisation strategy, which delivers innovative solutions that are consistently ahead of the local competition.

The bank proudly boasts of having deployed several firsts in cutting-edge offerings that continuously satisfy evolving customer preferences and are thus pioneering the digital-banking revolution transpiring across the country – and, indeed, the continent – currently.

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While Zenith Bank’s full year 2023 financial performance is being awaited, its unaudited results for the third quarter (Q3) ended September 30, 2023, showed that it recorded a remarkable triple-digit growth of 114 per cent from N620.6 billion reported in Q3 2022 to N1.33 trillion in Q3 2023.

The performance again demonstrated the Group’s resilience and strong market share despite a very challenging macroeconomic environment. It also reflected the leadership direction Zenith Bank has been enjoying under Onyeagwu.

According to the bank’s unaudited Q3 financial results presented to the Nigerian Exchange (NGX), the triple-digit growth in the top-line also enhanced the bottom line, as the Group recorded a 149 per cent year-on-year (YoY) increase in profit before tax, growing from N202.5 billion in Q3 2022 to N505 billion in Q3 2023.

Under Onyeagwu, Zenith Bank’s profit after tax also grew remarkably by 149 per cent from N174.3 billion to N434.2 billion in the same period. The growth in the top-line arose from both interest income and non-interest income.

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Interest income grew in the current period by 72 per cent to N670.9 billion from N390.8 billion in Q3 2022, while non-interest income grew by 186 per cent, from N212 billion to N607.2 billion.

The growth in profit was similarly attributable to the twin effects of the improvement in interest and non-interest income. Interest income increased because of the growth in risk assets as well as the effective pricing thereon.

A transformational leader, Onyeagwu demonstrated compelling commitment to Zenith Bank’s vision that promotes re-engineering and innovation. This scenario is expected to continue to rub off positively on all aspects of the financial institution, according to the emerging corporate consensus.

 

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As Zenith Bank’s Onyeagwu hands over the baton in the June I transition date, it is certainly not in doubt that he has indeed changed the industry’s story

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Ekiti Court sentences 47-yr-old cleric to life imprisonment for defiling 13-yr-old girl

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By Kayode Sanni-Arewa

An Ekiti State High Court, Ado Ekiti Division, on Monday sentenced a 47-year-old cleric, Prophet Adeleye Akingbaso, to life imprisonment for defilng a 13 years old girl.

The convict was arraigned in September 2022 on a two-count charge bordering on rape and coercion.

The charge read, “The Prophet, sometime in July 2022, at Ado-Ekiti, did rape a 13-year-old girl. Also, in July 2021, Prophet Adeleye coerced the victim to engage in a sexual act to the detriment of her physical and psychological well-being.

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“The offences are contrary to Section 31(2) of the Child’s Rights Law, Cap. C7, Laws of Ekiti State, 2012 and Section 4 of the Ekiti State Gender-Based Violence (Prohibition) Law, No.18 of 2019,” the charge stated.

In her testimony before the court, the victim, who described the cleric as a friend to her mother and was sleeping over in their house, said that the man committed the act one night when her mother was on night duty.

She said, “He woke me up at midnight and said I bedwetted, which was strange to me. He brought out a bottle of shea butter and rubbed it on my vagina; that was all I knew. I later discovered I had been raped that night. He threatened me that he would curse me and I would die if I told anybody.

“He came to our house again on the following day when my mother was not around. I was in the kitchen, and he told me he wanted to complete what he started the previous night. He attempted to rough-handle me, but I escaped and shouted for help, following which our neighbours came to my rescue. They called and informed my mother of the incident. She came home and later reported the case to the police”, the victim said.

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To proof his case, the prosecutor, Taiwo Ariyo, called four witnesses and tendered the statement of the victim and medical report as exhibits, while the defendant, who spoke in his own defence through his lawyer, Adelanke Akinrata, called no witness.

In the court judgment, Justice Blessing Ajileye found the cleric guilty on the two counts.

Ajikeye said, “In conclusion, this court has found the defendant guilty on the two-count charge of rape and coercion and convicted him accordingly. This will serve as a deterrent to others in the class of the defendant who has not been caught up by the nemesis of law.

“On count one (rape), the defendant is sentenced to life imprisonment and on count two (coercion), the defendant is sentenced to three years imprisonment. Justice Ajileye pronounced that both terms are to run concurrently.

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Oba Akamo denies conferring king of street title on Portable

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By Kayode Sanni-Arewa

The Olu of Itori, Oba Abdulfatai Akamo, on Monday, denied that he never conferred a chieftaincy title of ‘King of Street’ on controversial singer, Habeeb Okikiola Olalomi ‘portable’.

The monarch in a statement made available to newsmen by his Directorate of Media and Public Affairs, titled ‘Setting the records straight’ said the story was untrue, denying any close relationship with Singer Portable.

He explained that ‘Portable’ was named ‘King of the streets’ by Farmers Association in Ore, Ondo, sometimes in 2024, saying he would never desecrate the rich culture and heritage of the Yoruba tradition.

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Oba Akamo said ‘Portable’ adorned himself with the costume to the grand finale of his 21st coronation anniversary as a guest.

He therefore urged his colleague, the Eselu of Eselu, Oba Akinyemi Akintunde, to retract the statement as contained in the open letter.

Oba Akamo wondered why Eselu refused to cross check the facts from him before writing such an unsolicited open letter.

The statement read thus; “The attention of the Palace of the Olu of Itori Egbaland has been drawn to an open letter originating from the Eselu of Iselu, Oba Akintunde Akinyemi alleging the Olu of Itori Egbaland, His Royal Majesty, Oba Abdulfatai Akorede Akamo of purportedly installing Portable as King of street.

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“This allegation in its entirety is unfounded, baseless and incorrect as Olu of Itori has been on the exalted throne of his forebears for more than 21 years and would not be involved in any act that can desecrate the rich culture and heritage of the Yoruba tradition.

“For the avoidance of doubt, the controversial singer Portable was named King of Street by Farmers Association in Ore, Ondo state, sometime in December 2024. The event, which was widely circulated in the print media, stirred controversy on social media. Check the punch newspaper of 7,December 2024. The controversial investiture of the singer was published in the paper.

The controversial singer even posted it on his verified social media accounts.

“During the just concluded 21st coronation Anniversary of the Olu of Itori which took place at Olu of Itori’s Palace on 28, February 2025, the controversial singer was dressed in the costumes to the event as a guest. He was invited by the official photographer to the Palace.

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“On his arrival, he was requested to remove the costumes as it is a desecration of the rich culture and heritage of the Yoruba race. The singer immediately removed the costumes before entering into the event where the occasion took place.

“As a matter of fact, the controversial singer was brought forward to pay homage to Olu of Itori without the costumes, and he did not appear in those costumes throughout his stay at the event.

“It is important to set the records straight as the Olu of Itori can not be a party to distortion of the rich culture and tradition of the Yoruba race.

“We implore the Eselu of Iselu, Oba Akintunde Akinyemi, to retract the statement and put the accurate account of details into the public without further delays as he could have verified with the Olu of Itori personally as a colleague before writing this unsolicited open letter.

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“This is the honorable path to follow as we would not like to dwell further on this matter.”

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After Dangote’s price slash, NNPC Ltd follows suit reduces petrol price

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By Kayode Sanni-Arewa

Some retail outlets belonging to the Nigerian National Petroleum Company Limited have adjusted the petrol pump price to N860 per litre.

It was observed that while there is no official communication from the NNPCL Retail yet, some stations in Lagos adjusted their pumps to N860 per litre, down from N945 as of Sunday.

This comes a few days after the Dangote Refinery reduced its ex-depot petrol price from N890 to N825 per litre.

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NNPC spokesperson, Olufemi Soneye, did not respond to calls or messages regarding the development.

However, the National Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, confirmed the development to PUNCH Online.

“It is true, NNPC is selling petrol at N860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating the portal,” the IPMAN leader said.

Also, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said, “They reduced the pump price earlier this morning but I’m yet to get the details.”

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The Dangote Refinery announced a price cut last week Wednesday, setting another price regime for the petrol market in Nigeria

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