Access Bank Explains Profit Strategies 

Access Bank, Herbert Wigwe are winners at 2020 African Banker Awards
Herbert Wigwe, the Group Managing Director and CEO of Access Bank Plc, has explained that his bank’s resilient performance despite challenging economic landscape was a  testament to the effectiveness of its strategy and capacity to generate sustainable revenue.
He spoke while declaring the bank’s performance in the year ended,December 31,2020
He said:“The strategic actions that the bank has taken over the past 12 months evidence a strong focus on retail banking and financial inclusion, an African expansion strategy and a drive for scale for sustainable value creation. In 2020, Access Bank proudly opened its doors for business in Kenya and Mozambique, further increasing our footprints across the African Continent.
“Access Bank Zambia also concluded the acquisition of Cavmont Bank Limited in January 2021 and the Group recently announced the approval by relevant regulatory authorities for the acquisition of Grobank Limited, creating an inroad into the South African market in realization of the Group’s strategic ambitions.
“In view of the opportunities that exist in the market, we will be transitioning to a HoldCo structure. The Bank has received the Approval-In-Principle from the Central Bank of Nigeria for the restructuring and the HoldCo will consist of 4 subsidiaries in order to tap into the market opportunities that are available in the consumer lending market, electronic payments industry and retail insurance market. Going into the fourth year of our 5-year cyclical strategy, our focus remains on consolidating our retail momentum and expanding our African footprint in a sustainable manner,” Wigwe said.
The bank announced gross earnings of ₦764.7bn for the financial year ended December 31, 2020.
Its audited gross earnings shows a 15% improvement from the ₦666.75bn posted for the comparative period of 2019. While the Bank’s Profit Before Tax stood at ₦125.9bn, it also posted a non-interest income of ₦275.5bn, a significant 112% y/y growth from 2019. This is despite the cost of operating its enlarged franchise.
Besides,the bank recorded a consistent growth in its retail banking business, reporting a 5.8mn growth in customer sign-on during the year through our financial inclusion efforts. This increase in customer base led to a retail revenue of ₦177.2bn, a 64.4% increase from its FY 2019 figures of ₦107.8bn. The Bank’s customer deposits also grew by 31% to ₦5.59trn in Dec 2020 with savings account deposits standing at ₦1.31trn. Similarly, net loans and advances grew by 18% to ₦3.61trn in comparison to its FY 2019 figures of ₦3.06trn.
“As the bank intensified recovery efforts, undertook significant write off and leveraged its robust risk management practices, its asset quality improved to 4.3% compared to its 2019 report of 5.8% and this is expected to continue to trend downwards as it strives to surpass the standard it had built in the industry prior to the merger with Diamond Bank,” he added
NACCIMA Sees Prospects In N50bn Export Expansion Facility Programme

Nigerian Association of Chambers of Commerce, Industry, Mines and  Agriculture (NACCIMA) - National President
Hajiya Saratu Iya Aliyu,the National President of NACCIMA,has said that  the recent launch of the N50bn Export Expansion Facility Program (EEFP) and Grant Management Portal designed for accessing  the Export Development Fund (EDF) will increase inflow of  foreign exchange and expand the diversification of the nation’s  economy.
Iya Aliyu,who spoke in Lagos  advised medium and small scale enterprises  in Nigeria to take advantage of the facilities which will be processed through the System which was launched.
She assured that  her members  are being encouraged to tap into the opportunities under the Facility and called on other stakeholders to be part of the initiative which are some of the strategic options to pilot Nigeria out of recession and improve on recent gain.
She also commended government on the initiative and advocated the need  for efficient functioning of the digital  portal to enable prompt and efficient access of Funds under the facilities.
She described the launch of the digital management oortal as a practical positive step to ensure that MSMEs  across the country which are the back bones of the economy can access stimulus packages designed to save and create  jobs, as concerted efforts continue to help those of them impacted by COVID-19 pandemic get back on their feet .
She also noted that it was significant that  this was the first time that the EDF was being funded  since the creation of the NEPC Act;  and described the development as commendable.
NIN Defaulters Risk 14years Jail

Nigerians Yet To Register For National ID Number Risk 14 Years Imprisonment –Minister | Sahara Reporters
Nigerians who are yet to obtain their National Identification Number (NIN)stand the risk of being jailed for between seven and 14 years as stipulated by law,Dr Isa Pantami,the Minister of Communication and Digital Economy, Dr Isa Pantami,has said
He disclosed this  at the sixth edition of the ministerial briefing by the Presidential Media Team, at the State House, Abuja,where he also said that while obtaining a SIM card may be optional, NIN is mandatory, citing section 27 of the NIMC Act of 2007.
He added that it is a criminal offence in Nigeria to carry out business activities without first acquiring the NIN number.
He said: “Clause 27 of the NIMC Act states that you need the NIN number for opening bank account, for insurance, land transactions , voters registration, drivers license. So, it is an offence to transact any business activity without first having your NIN.”
He disclosed  that the number of SIM card subscribers at over 150 million, adding that enrollment for NIN stands at 51 million, as at March 31, 2021.
He explained that while 51 million have completed their NIN registration, the remaining 99 million have problems of improper registration warning .
He said  that there are no plans to lift the ban on Subscriber Identification Module (SIM) card registration
Allow Kids Start Tennis Early,Emefiele Urges Parents

CBN JNR TENNIS Emefiele Pleads with Parents to Allow Kids Start Tennis  EarlyTHISDAYLIVE
Godwin Emefiele,the  Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has urged  parents to use  the opportunity being offered by apex bank by encouraging their children to start tennis at early stage.
He gave the advice  at the closing ceremony of the 2021 Central Bank of Nigeria Junior Tennis Championship in Lagos .
 Emefiele,who was represented by acting Director, Corporate Communication of CBN, Osita Nwamsobi, described the championship as the timely platform for Nigerians to achieve lofty desires in tennis.
At the event which held at the Lagos Lawn Tennis Club, Onikan Lagos, Seun Ogunsakin 14,  won the Boys 14 and U-16 titles in one day to pocket the sum of N100,000 education grant.
 Ogunsakin defeated  Joshua Maxwell 9-0 in the U-16 boys category to emerge champion before stopping Ganiyu Mobarak 9-2 in the Boys 14 and under class to emerge double champion in two categories in one day. It was therefore not surprising that he was crowned the most outstanding male player of the championship.
His younger brother, Seyi Ogunsakin,was defeated  by Onyekachi Ogunjiofor who beat him 9-7 in the Boys U-12 category in a game that he was supposed to have won easily if not for several unforced errors. Murewa Egbeyemi defeated Malcolm Osaji 9-7 to claim the Boys U-10 crown.
In the girls category, Fego Ayetuoma  survived the threat from Ndidi Osaji who dragged her to the limits in the Girls U-12 game before she was subdued 9-7.
 Soyinka Cautions Amotekun Corps

Amotekun, desirable New Year gift - Soyinka - Punch Newspapers
Nobel Laureate, Prof. Wole Soyinka has  urged the new officers of Ogun State’s wing of the South-West Joint Security Outfit known as, “Amotekun”,not to trample on the rights of the people.
Soyinka, who gave the warning at the inauguration of Amotekun in Abeokuta, the State capital, emphasized the need for  men and officers of the corps to discharge their duties within the provisions of rules that established the outfit.
 Soyinka was decorated as the Super Marshall of Amotekun Corps in the state”.
Soyinka said the inauguration of the security outfit is not in any way to replace or fight the regular police, but rather to complement their efforts in the fight of insecurity. He said the Police and Amotekun can never be rivals, but to complement what the police are doing to secure the citizens. He said “the unique swagger stick of the Governor Abiodun and the head of Amotekun, differs drastically from either the police or the military swagger stick.
“It is symbolic, it’s unique, it’s aesthetic and it just says we are different and I think that message, the aspect of it I want the security to understand is that it is not a replacement for you”. He said the Police are too jealous of their position that was why they seem to be negating the formation of the security outfit. “You are too jealous of your position, of your uniforms and everything and where there should be cooperation, there is competition, that is silly, let us now go beyond that and recognise that this unit is simply to complement what you are already doing adequately, that is to the best of your ability, inadequately as far as you are supposed to protect are concerned, the way we feel it”.
“So, be happy and welcome them within your ranks and work with them. Prof Soyinka then warned “the Amotekun people, saying “what we need to contribute to this initiative is monitoring, advice, designs. “I want the Amotekun team to understand that we will be watching you as representatives of the civil society group, we will be watching you very closely to make sure that you do not trample on the rights of citizens”. “You have been created to assist them, to protect them, to be part of them, to live inside them, to gather information, to say to the police, the military, we cannot handle this, but we have seen this, would like to take a look and assist? “You are not here because you now have a uniform to start behaving like some other security agencies. You have to set an example to say that you are a civic unit.
Speaking at the launch, Ogun State Governor, Prince Dapo Abiodun noted that the security challenges facing the state and the nation as a whole needed the cooperation of all Nigerians and security agencies who should work in harmony and not unnecessary competition. Said he: “Let me note that the inauguration of the Amotekun in Ogun State is not to create unnecessary competition with other security agencies in the State. And this is why everybody must work together to further strengthen the security of lives and property in the state.”
Ikeja Electric To Customers:Don’t Assault Our Employees

Ikeja Electric (IE) Plc  has implored its  customers to desist from assaulting  ts  employees who are  carrying out their legitimate duties.
The power company vowed that it would continue to protect its employees against the attackers through the instrumentality of the law so as to enable the company give its best services to electricity consumers.
Felix Ofulue, head corporate communications, IE,who  conveyed the company’s warning at a press conference in Lagos,also faulted faulted the destruction of Ikeja Electric’s facilities.
He rallied  customers to protect the facilities of the power company against vandals,just as he disclosed that the company had whistleblower programme in order to entrench transparency and good governance in the system.
He also implored  the customers to blow the whistle on vandals,saying the development would go a long way to minimize energy loss and maximize the benefits of uninterrupted ppwer supply to the consumers.
He  disclosed that his company had metered only some 24,000 customers under the National Mass Metering Programme (NNMP) of the Federal Government  which commenced last  October
According to him,106,701 customers of the electricity distribution company had been scheduled to be installed with free prepaid meters under the phase zero of the NMMP.
Mr Ofulue blamed the present situation on the snail speed  of registration by its unmetered customers for the NMMP.He said only 57 per cent of customers have so far completed the mandatory Know Your Customer (KYC) online application.
“The challenge we are having is that people are not going online to register. Only 57 per cent have done their KYC and some are even saying they don’t want meters.There is also the issue of separation of accounts by customers, which involves installation of their electrical connection to the required standard before they can be issued meters.Some of them have refused to do that and we cannot issue one meter for instance for five flats because it can easily get damaged.
Something Died In Me When I Lost My Father –  Omotola Jalade Ekeinde 

Omotola Jalade Ekeinde, Nigerian veteran actress, singer,has revealed how losing her father at the age of 12 broke her in ways that probably still affect her.
She disclosed this in the latest episode of #WithChude
Speaking on her relationship with her father up till his last moments with the show’s host and founder of Joy, Inc., Chude Jideonwo, the legendary actress shared some of their fondest memories.
She  and also discussed a period that changed the nature of their father-daughter relationship and caused a strain to their bond.
She added:”When I was about nine years old, I was shipped to Command Secondary School in Kaduna. By that time, they had just given birth to my younger brother. I was a child and I did not take it well at all. I even remember when he was leaving and we both were crying. It really affected me – I thought the reason was because he now had other kids, and I was no longer important to him.”
While in school at Kaduna, her world was shattered by the news of her father’s death, at a time when she was beginning to anticipate returning home to spend more time with him.
“I think everything I have been, positively or negatively, was solely because of my father’s death. It affected me so much; I did not even know how much at the time. I did not even mourn my dad. At the age of 12, I was becoming a little lady, and I was excited to spend time with my father. That was when I got called out of school because I needed to be home. I knew someone had died because of how everyone in school was tiptoeing around me. The only thing I kept saying at the airport was, ‘I just hope it is not my dad’.”
“For some callous reason, I was okay with it being anyone but him. When I got home, I was greeted by a crowd. As I walked into the house, I was thinking about which of my family members had died. I saw my brothers, then I saw my mum, and, at that moment, I froze because I knew it was my dad that had died. I’m not sure if it was the guilt of wishing death on someone else, and not him, or because I was too young to process it or because I was still angry with him for shipping me off, but I was numb and emotionless, and it has affected me to this day. It was like something died in me,” she concluded.
Transparency Has Improved Investors’ Confidence In NNPC-Kyari

NNPC GMD, Mallam Mele Kyari (right), receiving a document from the Executive Secretary of the Nigeria Extractive Industry Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji, during a visit of the agency’s management team to the NNPC Towers, Abuja… Wednesday.
The Nigerian National Petroleum Corporation (NNPC),has said that the publication of its audited financial statements has significantly improved investors’ confidence in the corporation and was instrumental to the speedy facilitation of the financing agreement for the rehabilitation of the Port Harcourt Refinery by the African Export Import Bank (Afreximbank).
The Group Managing Director of the NNPC, Mallam Mele Kyari,  disclosed this while playing host to the management team of the Nigeria Extractive Industries and Transparency Initiative (NEITI) led by its Executive Secretary, Dr. Orji Ogbonaya Orji, at the NNPC Towers, Abuja.
“Since we opted to disclose our financial statements, the speed with which we close financial transactions has been monumental. We now close deals at a quarter of the time we used to them and that is very critical,” he was said
He  was quoted in a statement by the corporation’s spokesman,Dr.Kennie Obateru,to have restated his commitment to work with NEITI and urged the Executive Secretary and members of his management team to avail themselves of details of the Corporation’s operations, especially the monthly engagement with the Federation Accounts Allocation Committee (FAAC), on the NNPC website.
Speaking earlier, the Executive Secretary of NEITI, Dr. Orji Ogbonaya Orji, described NNPC as a key partner of the agency whose role in the industry stands “clearly on the orbit”.
He commended the GMD for the regular engagements and effective communication between the two organisations, adding that such engagements were necessary to create value.
The NEITI boss said there was need to build on the existing relationship with a view to deepening the culture of transparency in the oil and gas industry, stressing that there was no need for confrontation on issues that can be resolved amicably.
“When we see an agency like NNPC listening and being able to make themselves available for discussion, we will explore that option, it’s more useful to us than fighting on the pages of newspapers,” he stated.
Dr. Orji also expressed support for the ongoing engagements on the Petroleum Industry Bill (PIB) which he said would help close all possible gaps in the proposed legislation.
Easter:Ibadan Disco Assures Customers Of Quality Service

IBEDC assures customers of hitch-free services during Easter - SweetCrudeReports
Ibadan Electricity Distribution Company (IBEDC) Plc has assured customers across its network of its commitment to ensure quality services during the Easter break.
The Chief Operating Officer (COO) Engr. John Ayodele said that in order to ensure steady service delivery during the period, a special rapid response team has been put together to reinforce and strengthen our service delivery.
“We recognize the fact that the demand for electricity always increases during the festive season, we have therefore positioned our technical crew to monitor and patrol the network to ensure faults are cleared as and when due and also mitigate the effect of any disruption to electricity supply,” he said.
He also enjoined all Nigerians to reflect on the lessons of piety, love and self-sacrifice for the good of others, which are the essences of the Easter celebration.
“These lessons of Easter and other injunctions on brotherly love, peaceful co-existence, tolerance, honesty, humility, justice, equity and fairness to all are of particular importance to us as a nation as we continue to strive for a better Nigeria”
He emphasized the need for the strict observance of the COVID-19 precautionary measures as recommended by NCDC of wearing face masks in public places, regular washing of hands & use of sanitizers and physical distancing during the Easter celebrations. He however warned against vandalism and tampering with equipment across IBEDC network, as it could cause deaths or serious injuries. He also advised consumers to ensure that their homes and business premises are properly wired and earthed only by approved technicians to ensure safety of lives and property.
“It is illegal and dangerous for anyone to trade, live or work near electricity installations or even tamper with them, motorists are also admonished to avoid drinking under the influence of alcohol and observe traffic rules to prevent collision with electrical poles and other accidents,’’ He explained.
 He implored customers to take advantage of our hassle-free channels to pay bills and vend such as quick teller, etransact, Payarena, Jumia and ATM to avoid disconnection during the holiday period.
Ritualists Spoiling Business For Us, Ibadan Beggers Cry Out

Beggars in Ibadan have  protest low patronage by members of the public following a recent rumour that some rich men usually ‘buy’ money from them for devilish reasons.
Spokesperson of the beggers, Imam Abubakar Abdullahi, Serikin Hausawa of Hausawa Community, Oja’ba, Ibadan, said the report had created deep hatred for his people.
He said:“The reports that some wealthy people are buying money from beggars, including the physically-challenged people, for money rituals is not true.
As a result of the claim that some ritualists do buy money from these beggars, there has been public resentment against these innocent people.
“What we know is that traders, hawkers and commercial drivers do come to these beggars who are mainly blind and lame people, to change money (get smaller denominations).We need to clear our names so that people will not be punishing us for offences we don’t know anything about.”