Business
NCC is a Flagship Public Institution Impacting Lives Positively – Alake of Egbaland
…As Adewolu leads delegation to Ogun on consumer sensitisation
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
The Paramount Ruler gave the commendation when the Executive Commissioner, Stakeholder Management (ECSM) of NCC, Adeleke Adewolu, led a delegation of NCC staff to the state where the maiden edition of the Village Square Dialogue (VSD) was organised by NCC in Abeokuta.
The VSD, a version of the Telecom Consumer Conversation (a strategic, multistakeholder consumer outreach programme of NCC), took place at the 92-year-old Centenary Hall, adjacent the Alake’s Palace.
The VSD is specially conceived by the NCC to interact with telecom consumers at the grassroots for the purpose of sensitising telecom consumers through information sharing, education and advocacy on telecommunications-related issues.
Importantly, the forum provides opportunity for telecom consumers in the rural areas to make contributions to the governance process of the telecom ecosystem, and to equally engage their service providers to resolve complaints.
Oba Gbadebo, who was the Royal Father of the Day at the event, and was represented by Oluwo of Ake, Egbaland, Chief Samuel Tanimowo, said “One of the public institutions, whose activities are felt by the generality of Nigerians in many positive ways is NCC and the leadership of the Commission must be commended for its doggedness in ensuring that Nigerians enjoy the benefits of digital revolutions.”
The monarch, who was unequivocal in describing NCC as a flagship public institution positively impacting lives of all Nigerians, also particularly commended Adewolu, an indigene of the state, for his positive representation of the people of Owu Kingdom, Ogun State, where he hails from.
“We also thank you and your entire Board and Management for bringing the first edition of the Village Square Dialogue to us in Ogun State.
This is a testament to how important you take our state, which has contributed tremendously to the socio-economic and political history of Nigeria,” the first-class monarch said.
The leading monarch’s assertion was underscored by the Iyaloja of Egbaland, Chief Oluwakemi Oloyede, who thanked the NCC for the sensitization programme, which she said, had benefited not only the market women and men who attended the event but also the entire telecom consumers present, who cut across social strata.
“We have listened to all you have told us as telecom consumers, we would always recall the information when you have left us and we would also ensure that we take all measures possible to join hands in protecting telecom facilities in our vicinities for improved quality of service delivery. From all indications, doing this is for our own benefits as consumers,” Iyaloja Oloyede stated with conviction of a good listener and leader.
Earlier in his welcome address, Adewolu, who once served as a Commissioner for Special Duties and Inter-Governmental Affairs in the State, called on the community leaders and people of Ogun State to take ownership of telecommunications infrastructure in their localities and protect them from vandalism or theft.
The ECSM said Ogun State is central to telecoms growth in Nigeria in that it hosts one of the largest concentration of users of telecoms services in Nigeria, with an active subscriber base of over eight million users as at the Fourth Quarter of 2021, according to the data from the National Bureau of Statistics (NBS).
“This huge subscriber base is supported by a dynamic ecosystem of service providers, dealers, marketers and innovators. We are, therefore, here to host the maiden edition of the NCC-instituted Village Square Dialogue and to salute the legendary entrepreneurial spirit of the people of Ogun State.
On behalf of the Commission, I also thank you for the warm reception accorded us and the warmth traditionally accorded telecom service providers to bolster infrastructure development”, Adewolu said.
Addressing the audience further, Adewolu said telecoms services have long been recognised as the easiest and cheapest means of meeting critical socio-economic needs such as education, financial inclusion, economic empowerment and deepening social interactions.
Accordingly, Adewolu said the infrastructure through which these services are provided are called the “infrastructure of infrastructures” because they enable the digitization and seamless connectivity of all other socio-economic sectors.
“Without telecoms infrastructure, we cannot communicate with friends and family over long distances at the touch of a button, and we cannot conduct banking, insurance, governmental services, education, entertainment and many other activities with ease without telecommunications.
This means that telecoms infrastructure are critical to modern existence, and we must all do what we can to ensure that we tackle anything that affects their seamless operation”, Adewolu emphasised.
“Issues like hostile communities, the theft of diesel, batteries and power-generating sets, digging up fiber lines, sealing/locking-up of Base Transceiver Station (BTS) sites and such other illegal activities must be tackled decisively by all of us.
I therefore urge you all to please see telecoms infrastructure as your own, and to protect them as communal property. Anybody that tampers with telecoms infrastructure is tampering with your future and the future of your children – they should be resisted and reported,” the ECSM stated.
Also at the event, NCC’s Director of Consumer Affairs (DCA), Efosa Idehen, made a presentation elucidating on how NCC protects the interests, rights and privileges of telecom consumers. The DCA emphasized consumer obligations, especially in the area of telecoms infrastructure protection in order to ensure improved quality of service (QoS) and better quality of experience (QoE).
Similarly, a Principal Manager in the Technical Standards and Network Integrity (TSNI) Department of NCC, Kunle Olorundare, spoke on contributions of telecoms to the economy, mobile network development, the benefits of telecoms, network outages and their causes, and he enjoined consumers to protect telecoms infrastructure.
“By protecting the infrastructure, you are protecting every service offered on the network. You are protecting your money (Mobile Banking), your Jobs (Recharge Card and Phone business), your children’s future (Learning on the internet) and even your community (Social communication),” Olorundare said to restate the centrality of telecommunications to individuals and businesses.
The event was oversubscribed as the venue was filled to the brim with traditional rulers and other community leaders, market women and men, other telecom consumers from all walks of life, and representatives of telecoms consumers and service providers.
Also, more than 90 per cent of the forum’s communication was conducted in Yoruba language which is spoken and understood by majority of the people in the environment, and also in Pidgin English.
This choice of languages used at the forum enhanced comprehension and participation at event, and also bolstered the appreciation of the important role NCC plays in promoting the consolidation of the growth of the telecom industry.
Business
GTCO Plc Releases 2024 Q1 Unaudited Results…….. Reports Profit Before Tax of ₦509.3billion
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Guaranty Trust Holding Company Plc (GTCO or the Group) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group reported profit before tax of ₦509.3billion, representing an increase of 587.5% over ₦74.1billion recorded in the corresponding period ended March 2023. The Group’s loan book (net) increased by 21.9% from ₦2.48trillion recorded as at December 2023 to ₦3.02trillion in March 2024, while deposit liabilities increased by 26.0% from ₦7.55trillion in December 2023 to ₦9.51trillion in March 2024.
The Group’s balance sheet remained well structured, diversified, and resilient with total assets and shareholders’ funds closing at ₦13.0trillion and ₦2.0trillion, respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 24.9%, while asset quality was sustained as IFRS 9 stage 3 loans improved to 3.1% in March 2024 from 4.2% December 2023 and cost of risk (COR) closed at 0.4% from 4.5% in December 2023.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our first quarter results reflect the unfolding value of what we have created in all our business verticals through the Holding Company Structure – from Banking and Payments to Funds Management and Pension, we are positioned to compete effectively on all fronts and fulfil all our customers’ needs under a unified, thriving financial ecosystem. Despite the challenging operating environment, we delivered a solid performance, recording significant growth across all financial and non-financial metrics, and we remain on track to meeting our full year guidance.”
Mr. Agbaje further said: “Looking ahead, we will continue to focus on strengthening our relationships with our loyal customers, supporting not just individuals and businesses but also our communities through our well-attested free business platforms as well as innovative products and services. We are confident in our credentials to lead the future of financial services in Africa and will not relent in our commitment to excellence whilst delivering long-term value to all stakeholders.”
Overall, the Group continues to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios i.e., pre-tax return on equity (ROAE) of 117.0%, pre-tax return on assets (ROAA) of 18.0%, full impact capital adequacy ratio (CAR) of 24.9% and cost-to-income ratio (CIR) of 16.3%.
GTCO is a leading financial services group with banking operations in Nigeria, West Africa, East Africa, and the United Kingdom alongside non-banking verticals in HabariPay, Guaranty Trust Fund Managers, and Guaranty Trust Pension Managers. Its leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. Recently, Guaranty Trust Bank was recognized as Nigeria’s Best Bank and Best Bank in CSR at the 2023 Euromoney Awards for Excellence, Best Banking Group in Nigeria by World Finance, and Best Bank in Nigeria by Global Finance. GTCO’s Guaranty Trust Bank is featured in the Top 1000 Banks in the World and Top 100 Banks in Africa rankings by The Banker.
Business
UBA Champions Youth Empowerment through Graduate Programme, Employs 398 Across Africa.
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
African’s Global Bank, United Bank for Africa (UBA), held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience.
The event, which was held in a grand ceremony in Eko Hotel, Lagos on Thursday, was graced by esteemed guests, the UBA management, faculty members, mentors, and the graduating cla
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Africa’s Global Bank, United Bank for Africa (UBA), held the second edition of its expanded Graduate Management Acceleration Programme (GMAP) class of 2024, where 398 young Africans were inducted into the UBA Tribe after a rigorous six-month hands-on-work and learning experience.
The event, which was held in a grand ceremony in Eko Hotel, Lagos on Thursday, was graced by esteemed guests, the UBA management, faculty members, mentors, and the graduating class.
The graduands are from six African countries, including Nigeria, Ghana, Cameroun, Kenya, Tanzania and Zambia.
Addressing the gathering, UBA’s Group Chairman, Tony Elumelu, who congratulated all the graduates, expressed profound pride and admiration for their success having completed the intense capacity-building programme, combining learning with on-the-job training experience, garnered while rotating across several departments and units in the bank.
Elumelu took time to highlight the bank’s passion for youth empowerment in Africa, while bridging the unemployment gap, which according to him, remains one of the greatest challenges of the continent.
“For me these young UBA Graduates are a testament to who we are: a truly pan-African Group, that invests in African talent.This milestone is more than just numbers. It signifies UBA’s commitment to youth empowerment. Unemployment is the greatest challenge we face – a tragic and cruel betrayal of a generation. We know governments alone cannot create all the jobs we need – so it is up to us, the African private sector, to partner our government in improving lives and livelihoods. This is Africapitalism, and it is gratifying to see UBA play its part. UBA is dedicated to creating a positive impact, through the GMAP programme UBA is creating employment, boosting economic growth, and transforming lives across Africa,” Group Chairman said.
Continuing, he said, “At UBA, identifying these young ones, bringing them to the centre, training them, equipping them for the future and the task ahead, not just for a career in UBA, but wherever they end up remains our passion, because this is how we play our role as a Pan-African bank, in helping to empower the next generation, which is the African youth. We are helping to create employment and this for us is our driving force.”
Earlier in his speech, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, commended the graduating class for their unwavering commitment and emphasized the program’s role in cultivating the next generation of UBA leaders.
“Your dedication, resilience, and unwavering commitment have been nothing short of inspiring. Each of you has demonstrated the qualities of a true UBA ambassador, and today, we celebrate not just your achievements but also the collective strength of our UBA family.
While recognizing the invaluable support extended by families and friends, the GMD said, “Let us take a moment to express our deepest appreciation for their steadfast support as the invaluable support of your families and friends throughout this journey. Their love, encouragement, and understanding have undoubtedly played a pivotal role in your success.”
UBA’s Group Head, Human Resources, Modupe Akindele, said the bank remains committed to nurturing talent and leadership within the organisation. She noted that the GMAP programme, which marked its second graduation will be a continuous initiative, as it culminates an intensive journey towards leadership excellence.
“Already, the programme has graduated over 1,100 graduates, that is about 700 in 2023 and now we have 398 graduates. The fact remains that at UBA, we believe in equal opportunity for all, regardless of age, tribe, gender, or background; and so, we will continue to pursue our dream to nurture these young ones to their full potential,” she added.
United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries and across 4 continents.
With presence in the United States of America, the United Kingdom and France and more recently the United Arab Emirates, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.
Picture 1: l-r: Group Deputy Managing Director, Muyiwa Akinyemi; Group Head, Human Capital Management, Modupe Akindele; Group Managing Director/CEO, Oliver Alawuba; Group Chairman, Tony Elumelu; Group Head, Customer Experience, Michele Nwoga; Executive Directors, Ugo Nwaghodoh and Alex Alozie flanked by graduands of Graduate Management Accelerated Programme(GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday
Picture 2: l-r: Group Deputy Managing Director, Muyiwa Akinyemi; Group Head, Human Capital Management, Modupe Akindele; Group Managing Director/CEO, Oliver Alawuba; Group Chairman, Tony Elumelu; Group Head, Customer Experience, Michele Nwoga; Executive Directors, Ugo Nwaghodoh and Alex Alozie flanked by graduands of Graduate Management Accelerated Programme (GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday
Picture 3: l-r: Group Treasurer, Stephen Amangbo(1st from Left) ; Executive Director, Alex Alozie(3rd from left); Group Deputy Managing Director, Muyiwa Akinyemi(5th from left); Group Chairman, Tony Elumelu(middle); Group Managing Director/CEO, Oliver Alawuba(9th from left); Executive Directors, Ugo Nwaghodoh(11thfrom left); Group Head, Human Capital Management, Modupe Akindele(12 from left); and Company Secretary, Bili Odum, flanked by graduands of Graduate Management Accelerated Programme(GMAP) of United Bank for Africa(UBA), held in Lagos on Thursday
Business
Access Bank Advocates for Innovative Financing Models to Realise SDGs
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
At the 2024 Medic West Africa Event, organised by ABCHealth in collaboration with Informa Markets, Access Bank reaffirmed its dedication to fostering positive transformation in healthcare across Africa.
L-R: Mories Atoki, Chief Executive Officer, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC; Ralph Opara, Group Head, Commercial Banking Division (Lagos 2), Access Bank PLC; Odunayo Sanyo, Executive Director, MTN Foundation; Ibironke Akinmade, Group Head, Health Finance, Sterling Bank, and Zouera Youssoufou, MD/CEO, Aliko Dangote Foundation at the 2024 Medic West Africa Event hosted by ABCHealth in partnership with Informa Markets in Lagos…recently.
The event, which served as a platform for stakeholders across industries deliberate on the theme ‘Healthcare Investments in Africa: Mobilizing the Private Sector to Drive Healthcare Investments in Africa,’ aimed to chart a path through which corporates can leverage innovative financing models and strategic partnerships in fostering the achievement of the United Nations Sustainable Development Goals.
The discussions also explored strategies for strengthening healthcare infrastructure, leveraging technological advancements, as well as enhancing community health initiatives.
Lending his voice to the conversation, Ralph Opara, Group Head, Commercial Banking Division at Access Bank Plc, stressed that, “The government can’t carry the burden of the health sector alone. Hence, it is imperative that the private sector explores and implements innovative financing models and strategic partnerships to bridge the healthcare investment gap.”
Opara noted that collaborative effort between the public and private sectors is not only crucial but essential to driving innovation, improving healthcare accessibility, and ensuring sustainable development across the continent.
Walking the talk on partnerships, Access Bank partnered with the Private Sector Health Alliance of Nigeria (PSHAN), to launch the Adopt-A-Health Facility Program (ADHFP) with the primary aim of delivering, at least, one global standard Primary Healthcare Centre (PHC) in each of the 774 Local Government Areas (LGAs) in Nigeria. So far, the initiative has resulted into over 180 PHCs adopted across the country.
Other notable participants at the event include Mories Atoki, CEO, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC; Odunayo Sanyo, Executive Director, MTN Foundation; Ibironke Akinmade, Group Head, Health Finance, Sterling Bank, and Zouera Youssoufou, MD/CEO, Aliko Dangote Foundation.
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