Big Five Banks' Loans to Customers Hit N50trn in Five Years
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NNPC: Nigerians Spent N2.07trn on Petrol in 12 Months Consumption rises above 100% in three months Emmanuel Addeh in Abuja Nigerians between February Operations Report (MFOR) during the period under review. diesel and petrol) in the month litres of white products were sold 2020 and February 2021, with for February, the corporation In its breakdown of total sales of February 2021, lower than and distributed, compared with The Nigerian National Petroleum petrol taking a huge chunk of also disclosed that in terms of for the month, the NNPC noted N190.72 billion sales recorded 1.436.40 billion litres in the month Corporation (NNPC) has revealed N2.070 trillion of the entire sales. quantity, 17.215 billion litres of that N188.15 billion was made in January 2021. of January 2021. that it sold a total of N2.106 Making the disclosure in its fuel, accounting for 99.37 of total on the sale of white products In the review month, the According to the national oil trillion of refined products to delayed full Monthly Financial refined products were imported (cooking gas, gasoline, kerosene, NNPC stated that 1.414 billion Continued on page 49 Bandits Release 28 Abducted Students of Kaduna School...Page 10 Monday 26 July, 2021 Vol 26. No 9604. Price: N250 www.thisdaylive.com T RU N TH & REASO TODAY'S WEATHER ABUJA MAIDUGURI ENUGU KANO LAGOS PORT HARCOURT 25°C-33°C 31°C-31°C 25°C-28°C 27°C-33°C 24C-27°C 20°C-30°C Court Restrains FG from Accessing N200bn Unclaimed Dividends of shareholders in the capital President Muhammadu Buhari deposit money bank, which has But shareholders and other Abeokuta. Goddy Egene market estimated to be over provides that any unclaimed remained unclaimed or unutilised stakeholders in the financial The shareholders (Applicants) N200 billion. The order followed dividends of a public limited for a period of not less than six sector had faulted the proposal. sued the Attorney General of the A Federal High Court sitting a suit instituted by shareholders liability company quoted on years from the date of declaring As part of efforts to stop the Federation; Minister of Finance, in Abeokuta has granted an under the aegis of Palm Wealth the Nigerian Exchange Limited the dividend or domiciling the federal government from taking Budget and National Planning; interim order restraining the Shareholders Association (PWSA). (NGX) and any unutilised funds in a bank account, shall over the funds, PWSA instituted and Accountant General of the federal government from taking The Finance Act 2020 signed amounts in a dormant bank be transferred immediately to a case against the government Federation as Respondents and over the unclaimed dividends into law last February by account maintained in or by a Unclaimed Funds Trust Fund. at the Federal High Court in Continued on page 49 Big Five Banks’ Loans to Customers Hit N50trn in Five Years Access Bank leads with N11.929 trillion, followed by Zenith Bank's N11.297 trillion Obinna Chima The five tier-1 banks in Nigeria gave out a total of N49.999 trillion as loans and advances to their customers between January 2016 and December 2020, data compiled by THISDAY have shown. The banks are Access Bank Plc., Zenith Bank Plc., FBN Holdings Plc. (First Bank), United Bank for Africa Plc. (UBA), and Guaranty Trust Bank Plc. (GTBank). The data were gathered from the respective lenders’ financial statements. The data showed that in the five-year period, Access Bank lent out a total of N11.929 trillion to its customers. The amount lent by Access Bank rose sharply in the last two years due to its acquisition of former rival, Diamond Bank. Continued on page 49 2 MONDAY JULY 26, 2021 • THISDAY MONDAY JULY 26, 2021 • THISDAY 3 4 MONDAY JULY 26, 2021 • THISDAY MONDAY JULY 26, 2021 • THISDAY 5 6 MONDAY JULY 26, 2021 • THISDAY MONDAY JULY 26, 2021 • THISDAY 7 8 MONDAY, ͺ;˜ͺͺ˾THISDAY Group News Editor: Goddy Egene NEWS Email: [email protected], 0803 350 6821, 0809 7777 322 Okonjo-Iweala Decries Low Rate of COVID-19 Vaccination in Nigeria WTO foresees 11 billion doses of vaccine production by year-end butter and they could not especially with the contributions of diaspora contributions to provide technical assistance jump in June and it seems Michael Olugbode in Abuja and export their products to US or of the Nigerians in diaspora to Nigeria’s development. to developing countries for production is going up in July.” Dike Onwuamaeze in Lagos Europe because it didn’t meet national development.” the implementation of an He also disclosed that the standards. The WTO and In his keynote address, WTO Foresees 11 anticipated agreement on the fundamental disagreement still Director General of the World the ITC worked with them to Minister of State for Foreign Billion COVID-19 removal of fisheries subsidy. persisted over the waiver of Trade Organisation (WTO), upgrade the quality; NAFDAC Affairs, Ambassador Zubairu Rockwell said, “There was trade agreement for diagnostics Dr. Ngozi Okonjo-Iweala, approved it and they have been Dada, assured that the federal Vaccines Production an important discussion on required for the manufacture has lamented the low rate able to export. This is another government would constantly Wednesday on the importance of COVID-19 vaccines. of COVID-19 vaccination in area we have been helping strive to create an enabling Meanwhile, WTO has of ramping up production Rockwell said, “It is almost Nigeria and Africa, in general. the small and medium scale environment for the diaspora expressed optimism that the of vaccines. But what the an ideological difference, which Okonjo-Iweala said to fill the business.” population through policies production of COVID-19 producers said is that for is a source of frustration to the wide immunisation gap, WTO Okonjo-Iweala commended meant to guarantee their vaccines could rise from the them, the biggest problem is proponents of waivers that was ramping up vaccines’ Nigerians in the diaspora for safety and wellbeing. Dada current output level of 3.8 getting access to raw materials. expected text based negotiation production, with a target of 11 contributing billions of dollars said government had adopted billion to 11 billion by the end This is the thing that has been and an agreement on the issue billion doses by the end of this to the country’s economy, which the National Diaspora Policy of this year. This was disclosed hindering them from ramping by the end of this month. year, way beyond the present had been helping in sustaining 2021 (NDP) and its Action Plans. by the spokesperson of the up production. "Now the commitment is to output level of 3.8 billion. the economy. She said this had According to him, the global trade body, Mr. Keith “But there is a positive feeling, try and resolve this along with Speaking at the National helped people in rural areas to National Diaspora Policy Rockwell, during a virtual which we have to wait and see other areas that have not been Diaspora Day 2021, organised send their children to school, 2021 aims to provide a press conference he hosted materialise, that production of attended to because of the focus by the Nigerians in Diaspora take care of their health, and comprehensive and supporting from Geneva, Switzerland, dosage for the vaccines, which on trade waiver. These areas Commission (NIDCOM), with run businesses. framework for facilitating at the weekend. is currently at 3.8 billion, could are export restrictions, trade the theme, “Diaspora Integration The former minister stated, diaspora engagement in national Rockwell also revealed that ramp up to 11 billion by the facilitation measures and how for National Peace and “Wherever you are in the development, empowering the Director General of the WTO, end of the year. to make compulsory licensing Development,” Okonjo-Iweala diaspora, there is nowhere diaspora to contribute effectively, Dr. Ngozi Okonjo-Iweala, had "its materialisation will be easier to do. All these things said the vaccines production like home. I think what you and maximising the value proposed a fund that would good news. There was a big are important issues.” volume had been increasing, need to think about is, what with the figure in June growing can I do to make things better, by 1.1 billion, representing a wherever you are, either creating 45 per cent increase from May employment or business or civil production. society organisation, helping However, the former Nigerian to support what the local finance minister said, “The bad government is trying to do.” news is that most of those doses In her opening remarks, ended up in the developed Chairman/Chief Executive countries and the vaccine Officer, NIDCOM, Hon. Abike inequity continues and that Dabiri-Erewa, said necessary is why we are trying to work measures were being put in with them (vaccines producers) place to ensure that Nigerians in to change the story.” diaspora were allowed to vote She explained, “Right now, in the on-going constitutional one of the things I am trying review. to do since we are in the Dabiri-Erewa said, “As part pandemic and you know all of the mandate of NIDCOM, the numbers we are struggling the leadership and team of with, when you have so the Commission is putting many people vaccinated in its best at ensuing that the developed countries and only issue of diaspora voting tops a small percentage in Africa or the agenda of the current developing countries and the constitution review by the issue is how do we improve National Assembly. I assure the vaccine productions so we you that both Committees on can get more? Diaspora and our Civil Society “How do we even shift Organisations are strongly AMBASSADOR DEBO ADESINA MEETS TOGOLESE PRESIDENT… the production to African supporting diaspora voting countries? The WTO has the job to be actualised in Nigeria Nigeria’s Ambassador to Togo, Ambassador Debo Adesina (left) and Togolese President, Mr.