Posts in category: by The Telescope Magazine

A member of the House of Representatives from Iseyin/Itesiwaju/Kajola/Iwajowa Federal Constituency Oyo State, Hon. Shina Peller, has felicitated Christians home and abroad on the occasion of 2021 Easter celebration.

Hon. Peller’s felicitating message was contained in an official statement issued by his media office and signed by Kola Popoola, his Press Secretary, where the federal legislator enjoined all to spread goodness, love, peace and happiness.

The statement read:

“Hon. Shina Peller identifies and rejoices with all Christians on the occasion of 2021 Easter celebration.

“Easter celebration should be an opportunity for us all, not just Christians, to reflect deeply on the life and death of Jesus Christ with a view to emulating his good virtue, humility, selflessness and sacrificial acts to humanity.

“Importantly, let us remember that throughout his lifetime, Jesus Christ preached peaceful coexistence, forgiveness, humility, kindness, charity, tolerance, patience and love for one another. These are good virtues that we should endeavour to emulate for our society to be better.

“So as we celebrate this year’s Easter, Hon. Peller enjoins us all to spread love, not hatred; preach peace, not violence; scatter seeds of kindness and happiness, not sadness, everywhere around us and watch them grow daily. Let’s be tolerant of one another and we’ll make headway in our ways and dealings.

“Once again, Hon. Peller wishes everyone a Happy Easter celebration

United Bank for Africa Plc (UBA) has carved a niche for itself and continues to stand out as the leading Pan-African financial institution, consistent in introducing numerous first rate innovative products with customer satisfaction in mind. To this end, the bank has invested significantly in cutting edge technology in a bid to boost its overall services to customers. The development is a further demonstration of the bank’s unalloyed commitment to ensuring premium services as well as reaffirming its dominance across Africa.

In a bid to reinforce its commitment to first-rate experience, the lender introduced Leo the Chat Banker in 2018 and did not rest on its oars as it innovated with more firsts launching on facebook, in 2019 and on WhatsApp, following which it created Leo Apple Business Chat’ for Ios on iPhone and iPad. A feat its peers are yet to replicate, even though some banks like Diamond Bank now merged with Access Bank tried with Ada and StanbicIBTC Bank’ Sami. First Bank and GT Bank also launched on WhatsApp. They were all unable to replicate the success story of UBA’s Leo.

Recently, UBA has again raised the bar, with another first of its kind, that is currently setting the pace in the digital banking space. The New UBA mobile App, launched in March is a one stop shop for all banking transactions like never seen before on the African continent and is already a massive success with customers who have embraced the app wholeheartedly with more than 200,000 downloads since its launch in March. A testament to the excellent unique offerings imbued in the new mobile app.

The new app, which is a total upgrade from the former app, has new features including four amazing themes and a more amazing graphical interface, just as it has another never-been-seen before feature where it blurs your account balance when you cover your phone’s censor.

Armed with benefits and features designed to give its customers increased control and accessibility to carry out transactions with ease, UBA Digital Banking Group Head, Kayode Ishola, said the app has been tailor-made to give customers what they want, how and in the way they want it. He made this disclosure during a recent virtual press parlay with both local and international media, adding that a lot of investment in cutting edge technology and attention to details was put into the new mobile app.

According to him, the new UBA Mobile App is “your personal finance manager built with a distinctive user interface that will change the face of banking. “With this app, we are reimagining banking as our engagement has moved from being channel-based to being platform-based.

“The speed of the platform has been made to match the speed of light as we have cut down significantly on the number of processes expected to carry out your transactions. Interestingly, we have worked towards creating behavioural insight for our customers and working around this to address the real needs of our customers using the Omni channel platform and running on our open digital platform, which is very interactive and armed with lifestyle services. It is sleek and trendy with seamless user interface”, he added.

On the security features of the app, UBA’s Group Chief Information Officer, Onyebuchi Akosa, said the new platform will revolutionise the way banking services are offered as it will deliver increased personalised banking via a watertight and highly-effective security system.

Head, UBA SME Banking, Sampson Aneke, on his part noted that the app has been created with a high-level of intelligence because it can work based on frequent transactions.

He added that “it can also speak to the specific country where it is being used as the new mobile app runs concurrently in the 20 countries of UBA’s operation interacting in the different languages and cultures in line with the specific needs and regulation of the country in focus. This all-encompassing platform which boasts of a new user interface because of its sleek, modern nature of delivering seamless experience across several devices; can be used as a budgeting tool, loan application and also allows customers view their expenses according to their various categories such as the amount spent on data within a particular period.”

Beyond lip service, the bank, which is known for its culture of excellent service, has continuously innovated all of its business segments, whilst delivering top-notch operational efficiencies and best-in-class customer service. Over the years, the reward for creating such superior value has come in form of customer satisfaction and numerous local and international awards, thus consolidating their leadership position in Africa. For the bank, those awards are evidence of the diligent execution of its strategic initiatives geared towards customer service fulfillment.

Social Impact

Beyond the multiple zeros that are the underlying goal of every financial institution, UBA is also big on social impacts and customer satisfaction, the latter being a requisite for a rewarding year for the bank. Through its UBA Foundation, its CSR arm that is committed to being a socially responsible company and role model for all businesses in Africa, the foundation is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of education, environment, economic empowerment and special projects. The UBA Foundation was incorporated in January 2004.

The bank performs all these social functions while maintaining a sound pedigree as an institution that helps millions across the continent meet their financial goals. In fact, as one of the oldest surviving financial institutions in Nigeria, UBA holds a distinctive position as a general wealth distributor, which makes its financial performance more profound and impactful.

With about 274,000 shareholders, about 72 per cent holding between one and 10,000 ordinary shares, UBA has the most diversified shareholders’ base. It is also one of the most actively traded stocks at the Nigerian stock market, and a major influence in the traditionally most active banking sector. A total of 6.95 billion ordinary shares of UBA were traded at the stock market in 2020 while the bank’s share price rose by 21 per cent, more than a double of average return of 10.1 per cent recorded by the NSE Banking Index.

With more than 21 million customers and 1,000 business offices and customer touch points in 20 African countries, UBA is a systemically important, tier one financial institution. Despite the disruptions caused by the COVID-19 pandemic, the group remained a major developmental partner for its host communities, environment and economy as it donated N5.10 billion to various corporate social responsibility (CSR) initiatives during the year, through its foundation.

Despite the challenges the year brought including the COVID-19 pandemic, the bank’s performance stood out- while the deposit base increased by 48.1 percent, the bank’s profit before tax rose to N131.9 billion compared with N111.3 billion in 2019; profit after tax rose by 27.7 per cent to N113.8 billion compared with N89.1 billion in 2019 and earnings per share thus rose by 26.8 per cent from N2.52 in 2019 to N3.20 in 2020.

A further breakdown showed that the total assets last year leapt two spaces to N7.70 trillions from N5.62 trillion in 2019, about 37 per cent increase. The balance sheet performance is reflective of the overall performance outlook for the pan-African banking group. Market pundits are placing a “buy” note on UBA on the heels of the 2020 performance. UBA has the highest upside potential among the five stocks recommended by Cowry Asset Management Limited as the stock market reopened.

The 12-month report showed that gross earnings rose by 10.8 per cent to N620.4 billion in 2020 compared with N559.8 billion recorded in the corresponding period of 2019. The overall top-line performance was driven by growths across the income lines. Interest incomes had grown from N404.83 billion in 2019 to N427.86 billion in 2020.

Net interest income stood at N259.47 billion in 2020 as against N221.88 billion in 2019, fees and commission incomes also rose from N110.56 billion in in 2019 to N126.94 billion in 2020 while net trading and foreign exchange income increased from N37.63 billion to N59.45 billion. Further segmented analysis showed the continuing growth and profitability of the group’s non-Nigerian subsidiaries, providing diversification that helped to cushion and insulate the group from market fluctuation.

Meanwhile, the “Rest of Africa”-other African subsidiaries excluding the main Nigerian market, saw turnover growth from N166.27 billion in 2019 to N232.06 billion in 2020, repeating the same trend in pre-tax profit, which rose from N52.15 billion to N75.12 billion. The group also recorded increased incomes and profit across its business lines with corporate banking, retail and commercial banking and treasury and financial markets recording N201.02 billion, N214.39 billion and N204.96 billion respectively in 2020 as against N181.4 billion, N193.46 billion and N184.95 billion respectively in 2019.

The businesses also sustained improved profit. Corporate banking netted N62.32 billion in 2020 as against N47.9 billion in 2019. Retail and commercial banking recorded net profit of N30.23 billion as against N24.36 billion while net profit on treasury and financial marker dealings improved from N16.23 billion in 2019 to N21.22 billion in 2020.

On the cost side, operating expenses grew by 10.1 per cent to N249.8 billion, as against N217.2 billion in 2019, well below average inflation rate of 13.2 per cent for the year, thus reflecting the bank’s cost effectiveness. Despite the challenging business environment during the COVID-19 pandemic and the resultant effect on economies globally, the bank’s profit before tax rose to N131.9 billion compared with N111.3 billion in 2019. Profit after tax rose by 27.7 per cent to N113.8 billion compared with N89.1 billion in 2019. Earnings per share thus rose by 26.8 per cent from N2.52 in 2019 to N3.20 in 2020.

Management Outlook

Re-echoing the stance of analysts on the strong performance of the bank despite the global pandemic, UBA Group Managing Director, Mr. Kennedy Uzoka said last year was important for the UBA Group, as it gained further market share in most of its countries of operation.

According to him, the bank ended a very challenging year on a reassuring note as shown by double-digit growth in both top and bottom lines. Despite the tumultuous impact of the pandemic globally and across UBA’s 23 countries of operation, the group created N519 billion additional loans as it continued to support customers and their businesses.

He outlined that customer deposits grew 48.1 per cent to N5.7 trillion, driven primarily by additional N1.8 trillion in retail deposits, assuring that as a global bank, UBA remains well capitalised and determined to successfully drive financial inclusion on the continent through innovative products and vast network.

He pointed out that the bank’s capital adequacy and liquidity ratios came in at 22.4 per cent and 44.3 per cent were well above the respective regulatory minimum of 15.0 per cent and 30 per cent.

“Our primary strategy will continue to focus on providing excellent services from our customers’ standpoint, putting the customer first always. Looking ahead, I am inspired by the achievements we have made since the launch of our transformation programme. We have expanded market share considerably across the geographies where we operate and are consolidating our digital banking leadership in Africa. We will continue to leverage our diversified business model and dedicated workforce to further strengthen our position as ‘Africa’s Global Bank,” Uzoka said.

Group Chief Financial Official, United Bank for Africa (UBA) Plc, Ugo Nwaghodoh said the persistent low interest rate environment in 2020 exerted significant downward pressure on margins, notwithstanding, the bank’s interest income for the year grew by 5.7 per cent to N427.9 billion, driven by 8.2 per cent and 7.5 per cent year-on-year growth on interest income on loans and investment securities respectively.

Essentially, the 2020 performance no doubt shows the resilience of the uniquely diversified operating model of the UBA, and brings to bear the gains from continuing investments in its pan-African outlook. Analysts are optimistic the group will sustain its growth trajectory, given expected improvements in national and global environments in 2021.

Towering 65m above the ground, the $52 million architectural masterpiece, Lucrezia BySujimoto audaciously dominates the landscape of Africa’s most expensive square meter, Banana Island. The 14-storey skyscraper which is the brainchild of Sujimoto Construction Ltd, the leading luxury construction company in Africa, has a combined liveable space of 18,000 square meters and will be the tallest residential building in the highbrow neighbourhood.

The design of the sophisticated building combines the rare attributes of Beauty, Affluence and Style. The purely residential 14 storey tower includes luxury apartments which comprises magnificent maisonettes and 2 of Africa’s best penthouses, the first Virtual Golf Bar in Africa, Full Home Automation where you can control your lights, door, air conditioning, curtains, music & TV from the touch of a button, an IMAX Cinema, a 345 square meter temperature controlled pool including a Jacuzzi and kids’ pool, the 14 storey building has a floor to ceiling height of 4m, which creates an illusion that makes it look 20 storeys tall, an Interactive lobby where business meetings and casual hangouts can be held, Zaha Hadid by Porcelanosa sanitary wares, Private Salon, Crèche, amongst a host of others.

The 56 metres condominium will be the first 14 storey with Glass Reinforced Concrete façade costing the company over €2 million (N1,146,000,000) to deliver one of the best façades systems in the world. The façade panels will have a finishing covering of approximately 7500 square metres.

According to Sijibomi Ogundele, CEO Sujimoto Group, the Lucrezia’s penthouse is arrogantly built for the vital Few.

Lucrezia …

First ever two term Ogun state Governor and now APC Chieftain, Otunba Gbenga Daniel felicitates with Nigerians on Easter celebration, Thecitypulsenews.

In his message, he said “The significance of the Easter celebration is about regeneration, sacrifice, penitence and repentance. All are what Nigeria needs at this point in time.

“No doubt, our great country needs a rebirth and regeneration in practically all its spheres; social, economic and political.

“We should therefore be ready to make the necessary sacrifices in great submission to the will of the Almighty for the greatness of our nation.”

These are words of encouragement by former Governor of Ogun State, Otunba Gbenga in his Easter message to Nigerians on Saturday.

Otunba Daniel advised Nigerians to take note of the time that we are in, especially in strict observance to the safety and protective guidelines against Covid-19 infections so that they can keep safe.

“We should not be deceived that the pandemic has gone; it is very much here with us and as citizens, all of us still have to take responsibilities for our actions. It is therefore advised that we celebrate in moderation and keep all safety protocols.

“There is great hope for our country Nigeria, and all of us have a duty and responsibility to make all the necessary sacrifices for its greatness. There is a reason for the Easter Season and that is about sacrifice which leads to regeneration, Nigeria can greatly benefit from these great lessons.”

I am still finding it difficult to refer to the Great fighter and Leader of the masses as being of the past.

Oh no, Yinka Odumakin, the only man described as ” Solomon” by Sir Olanihun Ajayi can not be dead. He lives and will live for ever in our hearts as a revolutionary that he is/was.

The honour of “Solomon” bestowed on him by Late Sir Olanihun , the then Afenifere Leader was due to the wisdom he applied when President Goodluck Jonathan GEJ was making the final arrangement for the convocation of the National Conference. This confirms that Yinka Odumakin was/is indeed a wise man . A wise man with rare bravery.

Since after we left the final burial ceremony of Sir Olanihun Ajayi , I have been referring to him as “Solomon” Yinka Odumakin.
It never occurred to me that the day we went to visit the widow of the Best Governor ever produced in Nigeria, Late Pa Jakande as representatives of Afenifere led by Chief Supo Sonibare was the last day to chat one on one with THE SOLOMON. Though we had chats on whatsap thereafter.
As a radical, *SOLOMON ” YINKA ODUMAKIN, was a man that has never been hypocritical about his stand on any issue. No weakling can be my friend not win my heart.

He says it as he knows or believes.
It’s very sad that he left us at this critical stage in the history of Nigeria.
The roles he played in the making of a New Nigeria can never be forgotten. No doubt ,history will be good to him. In spite of ourselves ,we shall all be remembered by history.

Super Comrade “Solomon” Yinka Odumakin will live for ever in our hearts.
It will be very difficult for me to refer to him as being of the past.

Great , Super, Courageous, Dynamic and Intelligent Yinka Odumakin remains ” is” and not “was”. His indellible footprints is a confirmation that he lives.

It’s my prayer that the Lord will comfort his widow, Dr Josephine Obiagelli Odumakin,( Comrade Joe Odumakin), his family, the entire leadership and members of Afenifere Worldwide, associates, Comrades and all advocates for a better Nigeria.

Adieu DYNAMIC “SOLOMON”YINKA ODUMAKIN.

Toyin Raheem
Chairman, Afenifere , Agege LG Chapter and Chairman CACOBAG

Nigeria on Saturday April 3nd, 2021 lost three personalities to the cold hands of death, Thecitypulsenews reports.

Recall, it was reported that the former acting governor of Delta state, Rt Hon Sam Obi passed away in the early hours of Saturday. The circumstances that led to his sudden appearance are not known as they were during the press, but reliable sources confirm that his body is kept in Asaba’s morgue.

The late Sam Obi represented the northeastern state of the constituency of Ika for three terms (2003-2015) at the Delta State House and became acting governor in 2010 after a court canceled the 2007 election of former governor Emmanuel Uduaghan and ordered re-election.

After his death he was the chief supervisor of the Oracle Ministry of God, Asaba.

Again, spokesperson of pan-Yoruba sociopolitical group, Mr. Yinka Odumakin, reportedly dead on Saturday.

Odumakin’s death was confirmed by his wife, Dr. Joe Okei-Odumakin, who responded to a telephone call made to her by Thecitypulsenews source.

Amidst sobbing, she said she was on her way to Lagos State University Teaching Hospital (LASUTH), Ikeja, declaring repeatedly that: “Part of me is gone.”

The late spokesperson of Afenifere has been off the public glare for the past week, as he was said to be receiving treatment for some undisclosed ailments.

Also, Thecitypulsenews on Sunday reports that the member representing Jos North-Bassa Federal Constituency of Plateau State in the House of Representatives, Haruna Maitala passed away on Saturday due to a fatal accident.

After confirming the death, his aide Philip Adik said on Saturday afternoon that the federal deputy had died in a car accident on Abuja Jos Street.

A family member confirmed his death to our source on Saturday.

He died along with his son, driver and a security guard who were all in the vehicle, our sources said.

Until his tragic death, Hon Haruna Maitala was an extraordinary father and leader. His wisdom and vision for Nigeria made him a adored by many.

There are people who make it to the peak of their career but unfortunately have to spend parts of their lives behind bars because of one allegation or the other, this is the case of R. Kelly.

Their are many top celebrities especially those in the music industry who belong to this category and some of them found themselves behind bars because of crimes linked to them.

World known successful R& B and hip hop star, R. Kelly is one of those international musicians who has been incarcerated and currently behind bars because of crimes linked to him.

Born Robert Sylvester Kelly on born January 8, 1967 in Chicago, he grew up to become a singer, songwriter and record producer.

R. Kelly started his music career in 1990 when he released his first song titled ‘ Why You Wanna Play Me’ . Since then, R. Kelly has released several albums including his hit songs such as, ” I Believe I Can Fly” and several others.

The talented American singer has earned nicknames such as King of Pop- Soul” , and the ” Pied Piper of R& B” because of his efforts to redefine R& B and hip hop music. He is also considered the most successful R& B artist in history.

Since R. Kelly started his career in 1990, he has won a total of 110 awards from 274 different nominations including three Grammy Awards. This is captured on his profile on Wikipedia.

Unfortunately, R. Kelly ran into problem when he was accused of s*xual abuse and misconduct with under age girls, a case which started in 2002. He was indicted on 14 counts charges bordering on child pornography and was then acquitted of all his charges in 2008 and freed.

However, in February 22, 2019, R. Kelly was again indicted and was then arrested on July 2019 on federal charges.

R. Kelly currently faces 22 federal counts and held behind bars at Metropolitan Correctional Centre in Chicago, United States.

The Chief of Army Staff (COAS), Lt Gen Ibrahim Attahiru has commended the troops of Operation Lafiya Dole battling Boko Haram terrorists in the North East.

Gen Attahiru made the commendation during Easter luncheon organised to the troops of the theatre at the Lt Col BU Umar Sports Complex at Maimalari Cantonment, Maiduguri.

The COAS who was represented by the theatre commander, Maj Gen Faruk Yahaya assured the troops of his commitment towards ensuring regular training, logistics as well as timely rotation as they serve their father land.

Celebrating with the troops, the COAS representative assisted by Deputy Theatre Commander and Component Commanders served lunch to the sick and wounded in action troops.

Following the announcement of the death of Ogiame Ikenwoli, the 20th Olu Of Warri, Delta State, reported to have died in December 2020 from COVID-19 complications, just a week after his fifth Coronation anniversary, a new Olu of Warri has been announced by a Palace official, Johnson Atserunreleghe.

The 37 years old was born on 2nd April, 1984 to Godwin Toritseju Emiko, the Ogiame Atuwatse II the Olu of Warri (prior to his ascending the throne) and Olori Gladys Durorike Emiko, in Warri, Nigeria.

According to a statement credited to Jefferson Uwoghiren, Tsola got his basic education from NNPC Primary school in Warri and attended secondary school at Adesoye College, Offa, Kwara State during the period 1995 to 2001.

Prince Utieyinoritsetsola Emiko got admitted to Case Western Reserve University, Cleveland, Ohio, USA where he bagged his Bachelors of Arts majoring in International Studies & Political Science, while minoring in History & Economics during the period 2002 to 2006.

“This is not the end to his educational background, to attain a top position in his field, he took it further to earn a Master’s of Science in Management, from Case Western Reserve University in 2007, Uwoghiren said.

“Putting his knowledge gained during the past years, he returned back to Nigeria for NYSC in 2008 where he served in the Public Affairs Department of National Petroleum Investment Management Services, NAPIMS.

“Between 2009 – 2010 he worked as an officer as Shell Nigeria Closed Pension Fund Administrator, SNCFPA, and Govt Relations, Sahara Energy, 2010-2012.

“Prince Utieyinoritsetsola Emiko, a serial entrepreneur is the founder of NobleNigerian Ltd and Coral Curator Ltd. He is a Director, Ocean Marine Security Ltd and Directors, Gulf of Guinea Ltd and Vessellink Nig Ltd.

“Prince Tsola Emiko is a loving and caring husband to Mrs. Ivie Uhunoma Emiko and an inspiring father to Oritsetsemiaye, Oritsetemisan and Oritsetimeyin Emiko.

“Prince Tsola, a goal getter, loves traveling, hiking, swimming, kayaking, football, basketball & American Football. He is keen follower of history & enjoys movies. He is a follower of Christ and a nation builder.

Recall that the death of the 20th Olu Of Warri, was denied by the palace saying the monarch was indisposed and receiving medical care.

Announcing the monarch’s passage on Monday, Atserunreleghe, a palace official, said the town will go into a period of mourning.

A report by BBC, said the palace official added that there shall be no celebrations in the town for a period of three months while mourning lasts.

P+ Measurement Services, Nigeria’s leading Independent Public Relations (PR) measurement and evaluation agency, has introduced “Get-Reports” a product that allows the purchase of PR performance audit reports. It is the first of its kind in the Nigerian Public Relations industry.

The product spans across areas which includes 22 Commercial Nigerian Banks PR Performance Audit Report; Top Nigerian Insurance PR Performance Audit Report; Top Nigerian Digital Banks PR Performance Audit Report and the 22 commercial Nigerian Bank CEOs PR Performance Audit Report.

Others are the Top Nigerian Insurance CEOs PR Performance Audit Report and Top Nigerian Digital Bank CEOs PR Performance Audit Report.

In the area of the Nigerian Digital Bank CEOs media Performance Audit Report, a total of four Digital Bank CEOs in the country were sampled, while the number of sample will be populated as the demand increases.

On it, the PR Performance Audit Report will deliver deep insights of CEOs for four Digital Banks in Nigeria, using the P+ Measurement Media Content Analysis (P+MCA) methodology in accordance with the Barcelona Principles 3.0; highlights Nigerian Digital Bank CEOs with the most favourable and unfavourable media reputation; and analyse the overall competitive share exposure of the four Digital Bank CEOs sampled.

It will also explore top four CEOs in the Nigerian Digital Banking industry with most interviews, as well as partnership/sponsorship, CSR/CSI, product launch, promotion and fintech media activities.

Commenting on it, the Company’s Chief Insights Officer, Philip Odiakose, pointed out the product is with 5 per cent error margin and 95 per cent confidence level, and has passed through high-quality checks and audit processes, by well-trained media and data analysts, with exceptional skills in media monitoring, media research, data gathering, analysis as well as evaluation.