EconomyNews

Wema Bank Named 2021 Most Innovative Digital Bank in Nigeria by Digital Banker Africa

Honours continue to roll in for Nigeria’s leading digitally-driven financial institution, Wema Bank, following its announcement as the winner of the ‘Most Innovative Digital Bank’ in Nigeria at the 2021 Digital Banker Africa Awards.

Digital Banker Africa, the continent’s premier, magazine and website organizes the Digital Banker Africa Awards to celebrate organisations from across Africa that have stood out from amongst their peers with outstanding innovation, infrastructure and development along with the use of pioneering technology to support their business and customers.

The award’s judging panel comprises professionals with a combined experience of over 110 years of financial and business journalism experience, and is supported by a team of researchers who have ensured that the award winners are the most deserving in their category.

Last month, Africa’s first fully digital bank, ALAT by Wema, was awarded the ‘Most Outstanding Digital Bank Brand of the Year Award’ at the 2021 Brandcom Awards, which honours brands, agencies, and notable individuals in the brands and marketing communications industry who have distinguished themselves with tangible and laudable impact.

This latest award further recognises Wema Bank’s consistent innovativeness in delivering value to its stakeholders, enabling its customers to bank with ease and live their desired lifestyles.

Commenting on the award, the Managing Director/CEO, Wema Bank, Ademola Adebise, said it attests to the bank’s digital growth and confirmation of its position as a leading innovative financial institution.

“We are grateful for this honourrecognising our relentless effort in becoming Nigeria’s leading innovative digital bank. We dedicate this to all our customers who trust us and have continuously made us and our game-changing digital bank, ALAT their first choice,” he said.

He said that the award would further motivate Wema Bank to do more in the service of its customers. “This recognition serves as an encouragement for us to continue to build on our successes and invest more in our product offerings. We are committed to improving the lives of our customers in every way, enabling them to make it through each day in the best and easiest way possible with our services,” Adebise said.

The Bank’s passion to solidify its position as a leader in the digital banking space has seen it build a robust portfolio of digital solutions tailored to meet a diverse pool of customers and tailor-made to suit the dynamic lifestyles of students, budding entrepreneurs and young professionals. The Bank was the first to pioneer card control, a solution that allows customers secure their payment cards by locking and unlocking their cards directly from their mobile phones, also offering USSD Banking through its *945# platform.

These achievements and solutions have earned the bank several other accolades including Excellence in Branchless Banking, Digital Banking Platform of the Year and Best and Innovative Digital Solution.

For more information visit www.wemabank.com

Professor Sulaiman reiterates commitment to Kwarans as Supporters storm Ajase-Ipo

……….HRM Olupo of Ajase-Ipo offers a special prayer

Emmanuel Kehinde, Ilorin

The Asiwaju Ewe of Ajase-Ipo Professor Wale Sulaiman has again commended the resilience and commitment of the good people of Kwara South despite the challenges being faced in the area.

Professor Sulaiman made this commendations on Friday 17th of December in Ajase-Ipo during a solidarity meeting held by the Asiwaju Ewe Movement 2023.

The meeting which held in Ajase-Ipo was aimed at enabling over 500 members from across the seven Local Government Areas in Kwara South to converge, interact and engage their leaders on critical discussion and progressive agenda setting. 

Speaking during the event, Prof. Sulaiman, who is also the leader of the group, noted that leadership goes beyond promoting personal interest adding that the interest of the people is what should be paramount in the mind of any leader. 

He explained that the Asiwaju Ewe movement is not all about him but the collective agenda of progressive Kwara Southerners who believe in a transformed Kwara South. 

In his own remarks, Alhaji Fatai Akorede, the Director-General of the Asiwaju Ewe Movement 2023 applauded Professor Sulaiman’s passion for improving the lives of the people of Kwara South and Kwara State in general as this has continued to portray him as a selfless and charismatic leader who is capable of leading the people to the promised land come 2023.

Alhaji Akorede then commended the meeting initiative, while affirming that there is need to engage the people in critical discussion to understand their challenges and map out strategies on how to improve their standard of living. 

The Asiwaju Ewe movement is a grassroot based, progressive and solidarity group under the sage leadership of Prof. Abdulrafiu Olawale Sulaiman (PWS), Asiwaju Ewe of Ajase-Ipo Kingdom.

Further, Professor Suliaman also visited the Palace of the Olupo of Ajase-Ipo where special prayers were offered for him at Jumaat prayer.

His Royal Majesty Oba Ismail Bolaji Yahaya Muhammed Atoloye Alebiosu while receiving Professor Sulaiman described him as one of the illustrious sons and chieftain of Ajase-Ipo Kingdom.  

The monarch commended the philosophic activities of Professor Sulaiman in Kwara State while praying to Almighty Allah to grant the Asiwaju Ewe more blessing and good health to continue with his charitable activities within and outside Nigeria

Justice Okon Abange sets free noise-making lawyer in court premises, warns Lawyers

A Federal High Court judge in Warri Judicial Division, Justice Okon Abange has warned lawyers in Warri on the level of unprecedented noise-making around court premises that disrupted court proceedings last week. 

During the court session and while proceedings was ongoing some lawyers were making a noise. The presiding judge sent his court registrar twice to warn the lawyers within the premises to stop making a noise but to no avail.

Justice Abange, who found it difficult to continue with the proceedings, sent his police orderly to arrest anyone found making a noise on the corridor of the court despite the court registrar’s warning. 

A lawyer was, therefore, arrested while others ran away. 

When brought before the judge, it was discovered that he’s a lawyer.

Justice Abange was disappointed, but rather than sending him to prison, he decided to warn him, asking him to go and sin no more. 

Noise-making while proceedings is ongoing in the court room is a contempt in the face of the law. 

But there was twist to the incident as the Warri branch of Nigeria Bar Association(NBA) decided to issue a boycott order of the judge’s court rather than warning its members.

It also went further to petition the CJN.

Senior lawyers, who reacted to the issue, condemned the Warri NBA and commended the judge for not sending the erring lawyer to prison. 

Some of the lawyers said it would be madness for lawyers to be making a noise around the court while proceedings is ongoing.

One of the senior lawyers said: “Yes the conduct of the lawyer was a clear contempt in the face of the court which under section 133/4&9 of criminal code laws of the federation where the judge is the complainant prosecutor and remains the honourable judge. Lawyers praised the judge for allowing him to  go  home a free person than being remanded in prison for 3 months.

Lawan Assures Buhari of continued NASS support

Senate President Ahmad Lawan has given assurances of the National Assembly’s continued support of President Muhammadu Buhari to enable him deliver more dividends of democracy to Nigerians.

Lawan stated this in Gombe while inaugurating Gombe North Senatorial District Empowerment programme by Sen Sa’idu Alkali.

He stated that President Buhari had provided great leadership for both the country and the All Progressives Congress (APC) since coming on board in 2015.

According to him, President Buhari has shown a great desire to turn around the fortunes of the country and has been relentless in that quest.

He stated that though the country is not “out of the woods, Mr President is doing his best and for that we commend him.

“We have done so much between 2015 and 2021 and by the grace of God the National Assembly will continue to support Mr President to ensure that we deliver our campaign promises to Nigerians.”

According to Lawan, the achievements recorded in 16 years of Peoples Democratic Party’s (PDP) rule are nothing compared to what President Buhari had done in six years.

He appealed to Nigerians not to be deceived during the campaigns, noting that APC continuity would bring more dividends of democracy for the country and the people.

Lawan, who also commended Sen Alkali and Gov Inuwa Yahaya of Gombe state for their purposeful leadership, said their people-oriented programmes are commendable.

Others members of the Upper Chamber of the National Assembly who were present at the event are Senator Mohammed Sani Musa, Senator Bello Mandiya, Senator Yusuf Abubakar Yusuf and Senator Kabir Abdullahi Barkiya.

Abuja-Kaduna rail line generates N300m monthly – Amaechi

The Minister of Transportation, Rotimi Amaechi, has said that the Abuja-Kaduna train service generates at least three hundred million naira (N300,000,000) every month.

Speaking as a guest on Channels Television’s Hard Copy, Amaechi said his ministry is beginning to contribute to the nation’s economic growth.

“We make N300million per month from the Abuja-Kaduna train Currently, we are running Lagos-Ibadan from the money we are making from Abuja-Kaduna rail service, at the end of the day, we pay back over N100million to the Federal Government,” he said.

Amaechi disclosed that the government is planning to put out 16 trains on the Lagos-Ibadan rail line. This, he said, will increase revenue generation from that axis.

When questioned about the cost implications for developments experienced on the rail system, the Minister said the country is capable of meeting its loan requirements.

Earlier in the year, Amaechi had stated that the federal government borrowed about $2.5billion for the construction of a railway linking Lagos to Ibadan.

Speaking further about the debts accrued in the course of developing the rail transport system, Amaechi expressed confidence that “Nigeria has the capacity to pay back,” adding that the nation has commenced repayments.

He disclosed that more developments are coming to the rail sector which will further boost the revenue generated by the ministry and as such aid the government in settling its debts.

According to Amaechi, work on the Kano-Maradi line and Port Harcourt-Maiduguri rails are expected to commence by the end of January.

Delta assembly approves Okowa’s request of N20bn loan

The Delta State House of Assembly has  approved the request by Gov. Ifeanyi Okowa for a N20 billion facility from Fidelity Bank Plc.

The governor’s request is contained in a letter read  by the Speaker,  Chief Sheriff Oborevwori, during plenary of the assembly in Asaba.

Okowa said the request was to finance the state government’s five per cent equity in the UTM offshore Limited Floating Liquified Natural Gas (FLNG) Project.

He said the project is under the Central Bank of Nigeria (CBN) real sector support Find/Differentiated cash reserve requirement window.

”The facility is in line with the state government’s intent of diversifying its strategic portfolio by investing in a floating Liquified Natural Gas plant project.

”Delta is expected to invest in the project through a five per cent share of the company,” he said.

Okowa explained that the facility would not only boost employment for the teeming population and enhance local content for Delta, but would also secure future cash flow for the state.

Consequently, the Majority Leader of the Assembly, Mr Ferguson Onwo, moved a motion for the approval of the governor’s request.

The motion was unanimously adopted by the house when put to a voice vote by the speaker.

It was earlier seconded by the member representing Ika North East State Constituency, Mr Anthony Elekeokwuri.

Eight dead in Bauchi fatal crash – FRSC

No fewer than eight persons lost their lives in a road accident that occurred in Bauchi on Saturday, the Sector Commander, Federal Road Safety Corps (FRSC) in Bauchi, Yusuf Abdullahi, said.

Mr Abdullahi confirmed the incident in an interview with our Correspondent in Bauchi on Sunday.

According to him, the accident which involved an Opel Vectra car with plate number AA 954 GYD and one Tipper Mercedes Benz with number plate NIN 279 SA, happened in Goltukurwa village along Dass-Bauchi road at 9:30 p.m.

The official, who said that it took personnel of the corps about seven minutes to arrive at the scene to clear the site, attributed the accident to overloading, speed violation and head-on-collision.

He explained that nine people were involved in the crash, comprising two males, six females and a male child.

Mr Abdullahi, however, revealed that all the eight passengers in the Opel Vectra car, which ran into the tipper, lost their lives while only the driver of the tipper, whose name was simply identified as Abubakar Mohammed was unscathed.

The FRSC boss said that his personnel had cleared the obstructions at the crash scene, adding that the corpses of the deceased have also been taken to the General Hospital, Dass.

“This is the December period and we have always been sensitising motorists in the state about the dangers associated with over speeding and overloading.

“I want to use this opportunity to plead with motorists to always be conscious of all traffic rules and regulations as well as weather conditions before embarking on their journeys.

“They should also remember that only the living souls, not the dead, would live to celebrate the Christmas and new year festivities,” he stated.

FAAC: FG, States, LGs Share N675bn For November

The three tiers of government have shared the sum of N675.946 billion as revenue from the Federation Account Allocation Committee (FAAC).

This is the revenue from November disbursed in December and is N4.036 billion higher than the allocation distributed in November.

This was contained in a communiqué issued at the end of a virtual FAAC meeting for December 2021.

It said the total distributable revenue of N675.946 billion comprised distributable statutory revenue of N488.674 billion, distributable value added tax (VAT) revenue of N182.678 billion, exchange gain of N4.156 billion and recovered excess bank charges of N0.438 billion.

The Federal Government received N261.441 billion of the money, while states and local councils got N210.046 billion and N155.456 billion, respectively.

Also, oil-producing states received N49.003 billion as a 13 percent derivation of mineral revenue.

It said the total deductions for cost of collection in November was N30.957 billion, while total deductions for statutory transfers, refunds and savings stood at N136.908 billion.

The total VAT revenue collected in November was N196.175 billion as against N166.284 billion in October, showing an increase of N29.891 billion.

NDLEA Arrests Pregnant Woman With 1,442kg Of Skunk In Lagos

A pregnant woman, Eze Joy Chioma, has been arrested with 1,442 kilogrammes of imported skunk during a raid by operatives of the National Drug Law Enforcement Agency (NDLEA) in Lagos.

The 27-year-old was arrested on Friday, December 27, 2021, when operatives raided her store and home in the Ojo area of Lagos. Another suspect, Michael Oroke, was also nabbed with 29kg of the illicit drug in the same location.

The operatives also arrested Ezekwem Lawrence, Mohammed Aliyu, Suwidi Isiaku and a 62-year-old Basset Emmanuel with 182,000 tablets of Tramadol 225mg after they raided a hideout in the Abule Egba area of the state on December 16.

Director, Media and Advocacy, NDLEA Headquarters, Abuja, Femi Babafemi, disclosed this in a statement on Sunday.

The statement read in part, “In similar raids across eight other states of Rivers, Kogi, Benue, Adamawa, Anambra, Edo, Ekiti and Ondo, over 4,000 kilograms of assorted illicit drugs were seized. On Saturday 18th Dec, during a routine stop and search exercise along Aba/Port Harcourt Expressway, by Obigbo, operatives intercepted a consignment of Tramadol in a commercial Toyota Hiace Bus, with a waybill addressed to one Shadrach Udechukwu. A follow-up operation led to Udechukwus arrest and different quantities of Heroin, Cocaine, Methamphetamine, Cannabis Sativa, Tramadol, Exol-5, Swinol, and Diazepam recovered from him.

“In Kogi State, one Timi Sunday was arrested with 95.945kg of cannabis at Egba town, and Musa Sani with 10.5kg cannabis along Okene-Lokoja Highway, while Yaro Bala was arrested with 65kg cannabis on the same road.

“No fewer than 20,000 capsules of Tramadol coming from Onitsha, Anambra state were seized in Otukpo, Benue and a suspect arrested, while in Adamawa, a search operation in a house at Ajiya Street, Jimeta led to the arrest of a female suspect, Maryam Yunusa, with 16 pinches of Cocaine.

“A raid at Success line, Marine modern market, Onitsha led to the seizure of 234kg cannabis and a suspect arrested, while in Edo State, Francis Eferi was arrested in Okpuje, Owan West LGA with 481kg cannabis and Emmanuel Amu with 81kg cannabis at Sobe.

“In Ekiti, 1,420kg cannabis was recovered from Ara in Ikole LGA, while in Akure, Ondo State, operatives arrested one Mrs Grace Henry in her residence at Itamo Igoba, with 573kg cannabis. In other parts of the state, 450kg cannabis was seized along Ipele-Idoani Road, and 420.5kg cannabis at Ogkogu Camp, Ipele, both in Owo LGA.

“Chairman/Chief Executive of NDLEA, Brig. Gen. Mohamed Buba Marwa (Retd) commended the officers and men of the nine state commands for their resilience and charged them not to relent.”

RSE rewards customers with instant gifts

Red Star Express Plc announced on Monday that consumers who send parcels from their retail outlets will get instant gifts through its “Ship & Win Promo” to appreciate them. Terms and Conditions apply.


The promotion, which runs from November 29, 2021, to December 31, 2021, aims to reward retail customers.  

According to Victor Ukwat, Executive Director of Sales and Marketing, who revealed this to the reporter, ‘the promotion is not only limited to clients in Lagos but is also available nationwide.’

“As the Yuletide season approaches, satisfying all of our large networks and numerous consumers become a requirement,” he continued.

Dr. Sola Obabori, Group Managing Director, emphasized the importance of the company’s efforts to give back to its valued customers.

“Red Star Express Plc is delighted to give back to our customers through the Ship & Win Promo, which is also a delightful opportunity to continue providing exceptional service,” he added.

Red Star Express Plc is a licensee of Federal Express (FedEx) Corporation, the world’s largest provider of delivery solutions. It has over 150 offices in Nigeria, as well as international offices in Niger, Burkina Faso, and Benin. Its network includes over 1,500 communities in Nigeria and 214 countries around the world.

The company Red Star Express Plc, is subdivided into four divisions and business units.

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