BusinessDay 28 Feb 2018

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16 A National Youth Service Corps Batch ‘B’ Stream II member, John Luke, clearing the drainage at Our Lady of Loreter on Fadaman Mada Road in Bauchi on Monday. NAN BUSINESS DAY CITYFile FCTA moves to reclaim railway right of way Federal Capital Territory Administration (FCTA) says it is taking steps to reclaim obstructed right of way of the railway corridors across Abuja. Muhammad Bello, minister of the FCT, who disclosed this, said that relevant agencies have been directed to move and clear all illegal structures along the railway corridors. Bello, during a test-ride of the train service and inspection of the rail stations, on Monday, preparatory to the opening of test-run to the public, said the move was to ensure that passengers gain unhindered access to the train stations. The minister along with staff of the Federal Capital Development Authority (FCDA) was led on the inspection by officials of CCECC Nigeria Limited – the rail construction company. He directed the FCDA to speed up works on the opening of access Police mop up illegal arms in Ondo The police in Ondo have given residents of the state a 21-day ultimatum to submit all illegal fire arms to the nearest police station. Gbenga Adeyanju, the Commissioner of Police in the state, gave the ultimatum while briefing newsmen in Akure, on the arrest of some robbery suspects. The Inspector-General of Police, Ibrahim Idris, recently directed commissioners of police in states to commence the recovery of prohibited firearms across the country. Adeyanju said the directive was in compliance with the order to mop up illegal arms and ammunition in the country. According to the police boss, anyone caught with illegal fire arms after the ultimatum would be sanctioned. “We wish to inform members of the public that in compliance with the directive of the Inspector-General of Police, we are mopping up illegal fire arms and roads to the 12 railway stations. The test-ride took the minister and his entourage round the 12 railway stations spread across the scenic landscape of the rail network. The view gave the riders a preview of what commuters should expect upon the commencement of the train services. Bello, who expressed satisfaction with the work done on the railway project, commended the contractor. “We are satisfied with the quality of works done. What remains now is to recover the railway boundaries, clear the corridors and provide access ways to the stations. This we hope will be done in the next few weeks to enable us commence the test services. “We hope to open the stations for operations in the next few weeks and we don’t want a situation where the train would be competing for space with illegal structures and settlements,” he said. … set up joint task force in Enugu ammunition. “All illegal fire arms are to be submitted to the nearest police office in their domain; anyone caught with illegal fire arm will be sanctioned after the ultimatum,” he said. In Enugu State, the police have also constituted a joint departmental task force to mop up illegal fire arms and ammunition. Mohammed Danmallam, the Commissioner of Police in the state, said on Monday named Frank Idu, an Assistant Commissioner of Police in charge of operations, to head the task force. The task force comprised personnel from State and Federal Special Anti-Robbery Squad (SARS), Criminal Intelligence and Investigation Department and mobile police units. “The task force will ensure the mopping up of all illegal fire arms and ammunition in the state as well as stop all militia groups. The task force will ensure that everybody holding illegal fire arms and ammunition Bello directed the coordinator, Abuja Metropolitan Management Council, Shuaibu Umar, to commence sensitisation meetings with the stakeholders in the various railway corridors over illegal settlements. The illegal settlements included those around Kukwaba, Dei Dei, Gwagwa, Kuchigoro and others, with a view to giving them enough time to vacate the railways corridors and station access ways. Kayode Opeifa, the FCTA transport secretary, stated that the stadium station would be serviced by an underpass tunnel. He added that the tunnel was designed to provide traffic relief for the city during sporting and other social events in the stadium. The 12 completed stations included the Metro, Stadium, Wupa, Kukwaba 1 and 2, Gwagwa and Dei-Dei train stations. Others are the Idu, Bassanjiwa, Airport, Kagini, Bazango stations. will be prosecuted,’’ he said. Danmallam urged all persons with fire arms and ammunition to re-verify and revalidate them in the command within 14 days. He said that anyone caught with illegal fire arms and ammunition would henceforth be prosecuted according to relevant laws of the country. “If you have fire arms and ammunition with expired licence or not duly registered, you must revalidate at the command now,’’ he said. He said that the enforcement would be total and urged members of the public to give information on people holding such illegal fire arms and ammunition to the police. “Everybody should assist the police and command on this issue; members of the public and especially journalists will do well to give us intelligence information,” he said. He said that the state had no militia group and had remained very peaceful for over two years. Wednesday 28 February 2018 Youths want Mobil to create job opportunities ANIEFIOK UDONQUAK, Uyo Youths in Akwa Ibom under the aegis of Nigeria Youth Initiative Forum have urged Mobil Producing Nigeria, a major oil company operating in the state to provide employment opportunities and ensure that those from the catchment area are given priority. In a letter addressed to the chairman and managing director of the company, the youths alleged that some 400 qualified seafarers and cadet officers from the catchment area had been denied employment by 42 marine and services companies working for Mobil. The youths in the letter signed by Sammy Bassey and Godwin Edwards, their president and secretary, respectively, specifically called on the oil company to direct its contractors to source their workforce from seafarers and crewmen from the catchment area. They also urged the oil company to commence the immediate rebuilding of Qua Iboe Terminal (QIT) jetty and the review of its community relations guidelines of 2007. They alleged that oil servicing companies had not executed any community development projects in the catchment area since 2007. Idahosa dedicates new church building IDRIS UMAR MOMOH, Benin Margaret Idahosa, an archbishop of Church of God Mission, has commissioned an ultra-modern provincial headquarters in Ugbegun community, Esan Central local government area of Edo State. Idahosa, while commissioning the church building, last weekend, said it was to propagate the gospel to the nooks and crannies of the world. The archbishop, who also visited the traditional ruler of the community, Samuel Iwuno Obade 11, in his palace, prayed for God’s blessings, wisdom and protection upon the community. Responding, the traditional ruler of Ugbegun, Iwuno Obade II, commended the cleric for being a role model. “In all ramifications, you have taught your followers the good character because this is an example of good leadership in the Church of God Mission. Police recover 39 stolen vehicles in Osun BOLA BAMIGBOLA, Osogbo Osun State police command said it recovered 39 vehicles believed to have been snatched from owners across the southwest region. Fimihan Adeoye, the Commissioner of Police in Osun, said 19 of the stolen vehicles were recovered on January 20, 2018, and currently on display at the headquarters of the state police command. He said another 20 vehicles were also later recovered. He said that a team of investigators from Special Anti Robbery Squad working with the command discovered that the vehicles were stolen after checking their chassis numbers. “We discovered that some of the vehicles were snatched at gun point. We have prepared the details of the vehicles for the owners to come and claim,” said Adeoye.
Wednesday 28 February 2018 In Association with C002D5556 BUSINESS DAY 17 Zenith, GTB, Fidelity, UBA, others to pay dividend this year Stories by Hope Moses-Ashike About nine deposit money banks would be able to pay dividends this year despite the new policy adjustment issued recently by the Central Bank of Nigeria (CBN), an international research firm, SBG Securities (Pty) Limited of South Africa said. The banks are Zenith Bank Plc, Guaranty Trust Bank Plc (GTBank), United Bank for Africa Plc (UBA), Access Bank Plc, Stanbic IBTC Plc, Fidelity Bank Plc, First City Monument Bank Plc, First Bank and Ecobank. The CBN had this month released a circular making an amendment to a previous circular dated October 8, 2014 on internal capital generation and dividend payout ratio. The new circular introduced some conditions for banks to be allowed to pay dividend, which are the Composite Risk Rating of the bank, Non-Performing Loans (NPL) Ratio and Capital Adequacy Ratio. While banks do not publicly disclose their Composite Risk Rating the minimum capital adequacy ratio for international banks is 15 percent, 10 percent for national banks and 16 percent for systemically important banks. The circular specifically states the following regarding dividend payment; No bank shall be allowed to pay dividend out of reserves, banks that do not meet the minimum capital adequacy ratio shall not be allowed to pay dividend, banks that have a Composite Risk Rating (CRR) of “High” or a Non Performing Loan (NPL) ratio of above 10 percent shall not be allowed to pay dividend. The circular further stated that banks that meet the minimum capital adequacy ratio but have a CRR of “Above Average” or an NPL ratio of more than 5% but less than 10% shall have dividend payout ratio of not more than 30 per cent. Banks that have capital adequacy ratios of at least 3% above the minimum requirement, CRR of “Low” and NPL ratio of more than 5% but less than 10%, shall have dividend pay-out ratio of not more than 75 percent of profit after tax There shall be no regulatory restriction on dividend pay-out for banks that meet the minimum capital adequacy ratio, have a CRR of “low” or “moderate” and an NPL ratio of not more than 5%. Based on the foregoing analysis from a CAR perspective, analysts from SBG Securities have held that Zenith, GTB, UBA, Access, Stanbic IBTC, Fidelity and FCMB were not affected by the policy based on their nine months 2017 unaudited results. Going by the results released in September2017, most of the banks not restricted from paying dividend have either exceeded or are close to their 2016 full year profit level. Fidelity Bank with a profit before tax of N16.2 billion in September 2017 has done 147 percent of its 2016 full year profit, Sterling Bank with its N6.6 billion profit before tax as at September 2017 has done 131 percent of its 2016 full year profit while Stanbic IBTC has already recorded 123 percent of its 2016 full year profit before tax as at September 2017. Other banks close to their 2016 full year gross profit include Zenith, GTB, Access and UBA. These banks will most likely pay at least the same dividend paid in the previous financial year. The analysts also held that banks which belong to a HoldCo structure such as FBN Holdings Limited could still pay dividend which would be derived from their non-bank subsidiaries while the policy did not apply to ETI group (parent company for Ecobank Nigeria) because it is not regulated by the CBN. According to the analysts dividend payout estimates are in line with the regulation as they had previously emphasized the need for a reduction in dividend pay out to build buffers, remarking that for 2017 earnings, the highest dividend payouts will come from Zenith at 50 percent and GTB at 49 percent. They reiterated their positive dividend payout outlook for 2017 earnings, estimating 21 percent average growth in dividend per share for the listed banks in their 2017 estimates, driven primarily by strong earnings growth. Stanbic IBTC shows commitment to social media week The 2018 Social Media Week (SMW Lagos) commenced on Wednesday as Stanbic IBTC, Nigeria’s leading end-to-end financial services organization joined other thought leaders, innovators business practitioners, entrepreneurs, and pop culture luminaries from Nigeria and around the world to commemorate the week. This year’s event, themed “CLOSER,” seeks to explore the intensifying conflict between communality and individualism. Yinka Sanni, Chief Executive at Stanbic IBTC Holdings PLC, said a demonstration of the organization’s commitment towards harnessing innovation and technology to build communities is underscored by its sponsorship of and active participation at this year’s Lagos Social Media Week. He added that the organization’s objective is therefore to ensure that these communities are well served with financial knowledge. He stated that Stanbic IBTC’s pervasiveness on several social media platforms; including Twitter, Facebook, LinkedIn and Instagram, as well as the establishment of an all-digital branch is designed to make financial products and services easily accessible to a wide array of clientele, especially the millennials. “In line with our brand promise to help move people and businesses forward; I am delighted to announce our participation in the 2018 social media week. Participating amongst techpreneurs and the social community shows our openness to both connect with various communities in a bid to stimulate socio economic growth,” Sanni said. Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure. Fidelity Bank’s customers declare promo savings scheme real Beneficiaries of promo savings scheme initiated by Fidelity Bank plc have confirmed that the ‘Get Alert in Millions’ promo reloaded is real and has positively changed their lifestyle. “I got a call from Fidelity Bank on February 14 that said, ‘you just won yourself N2 million’. I said I did not do anything how can I win N2 million”, said Azeez Moreninkeji Adedoyin, a customer who won N2 million in the fourth monthly draw. “The next day I went to the nearest branch at Abeokuta, Ibadan, in fact I was ready to sue the bank if at the end I did not win the money. I did not believe it was real and my parent did not believe too”. “I promised to make use of this money wisely. This is real. The bank is not being bias. I got a call that changed my life”, Adedoyin said, after receiving the alert of N2 million at the formal presentation at Mazamaza branch, Lagos. Another customer, Mmereole Salome Obiageri, was presented with a cheque of N1 million and her account was credited immediately. She said, “I thank God who made me to be one of the winners. God will continue to give Fidelity Bank the strength to expand. The promo is real”. Speaking at the presentation, Richard Ebo, regional head, retail banking, said the bank through the promo had empowered many of its customers and businesses. He reiterated the bank’s unparalleled commitment to reward customers for their loyalty and patronage. The winners in the fourth monthly draw emerged from a transparent process conducted by the bank’s control team, witnessed by officials of the Consumer Protection Council (CPC) and other regulators and stakeholders. 139 more winners emerge in Sterling Bank’s 1dament promo More winners have emerged in the second draw of Sterling Bank Plc’s 1damemt promo introduced to reward new and existing customers of the bank. Henry Bassey chief marketing officer of the bank disclosed this in a statement, remarking that another 136 individuals and three nonindividual customers won in the draw. The draw was held at the corporate headquarters of the bank recently. Bassey said the winning customers were selected via an electronic raffle draw system and winners emerged from various parts of the country. He added that the event was witnessed by officials of the Consumer Protection Council (CPC), Lagos State Lotteries Board (LSLB), National Lottery Regulatory Commission and Akintola Williams Deloitte as well as senior officials of the bank. He said a breakdown of the winners showed that under the one woman winning category, three women emerged winners of one million naira each, five customers won an all-expense paid holiday destination trip while 128 individuals and three nonindividual customers won under the cash prize winning category. To qualify for the draw, a customer of the bank is expected to maintain a minimum average balance of N10,000, N50,000 and N100,000 for 30 days. The grand prize of the promo is a Home in Lekki, Lagos.
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BusinessDay 28 Feb 2018

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