News Beginier’s Guide NNPC declares Demand, Supply Building a N287bn as and Stock Price career profit in year 2020 movement with walls Pg. 5 Pg. 14 Pg. 13

August 30-September 5, 2021 Value The Danger of Dividends

pg 4 UPDC leads gainers as market returns Nigerian Youth: 0.01% WtD Gainful Pg3 engagement through social media pg 12 Implication of GDP Growth on the Nigerian Capital Market •Stocks to Watch

Money Market News Zenith Bank Nigeria's launches 'ZIVA' to GDP grew by enhance customer 5.01% in Q2 service 2021 pg 7 pg 6 02 August 30-September 5, 2021 Implication of GDP Growth on the Nigerian Capital Market •Stocks to Watch

ecent report published by that simply means is reducing The market will only get a shock the National Bureau of interest rates. By the time there is when GTCO now say they are paying RStatistics (NBS) revealed reduction the interest rate in the 25 kobo. If Guaranty is paying 30 that Nigeria's Gross Domestic bond market and money market, kobo, it's a known price; it is given. Product (GDP) grew by 5.01% in the there will be circular flow of income, That has already been factored into Second Quarter of 2021. This is a such that the next destination is the the price that Guaranty is trading massive jump from the GDP growth equity market”. now”. of 0.51% reported in the First “Last week, there was OMO “I believe that by and large, the Quarter of 2021. settlement. Even though there was market is billed to perform better By all standard, this is a sure Treasury bill auction, it was far with all these information at the indication that economic activities lower than money that came into the market place. We expect that the has returned after the lockdown, system, which means that the system next inflation will be lower than the occasioned by COVID 19 pandemic. is very liquid”. previous one and we are also The gradual return of commercial “With the information of the growth expecting that the GDP will grow activity as well as local and in GDP and reduction in inflation higher than what we saw”. international travel, accounted for suggests that all things is working together for the market. When you Stocks to Watch the significant increase in growth · Okomu: The Company put all these together, there is no way performance relative to the second released a fantastic in Q2 the market is not going to be affected quarter of 2020 when nationwide 2021 and it has good dividend restrictions took effect. positively”. “If you now say that will prices come pay-out history Commenting on the impact the GDP · Presco: Presco is in the same down? The real question to ask is growth would have on the capital i n d u s t r y w i t h O k o m u . that are these stocks trading at their market, the MD/CEO of Global Growth in the company's fair value? Most of these stocks are View Capital Limited, Aruna figures for Q2 2021 was trading below their intrinsic value. Kebira stated thus: impressive. “Figures don't have emotion. The Q1 So how should we be expecting prices · Courtville: Performance of 2021 figure for GDP growth was to go lower than what we have seen? Courtville for 2021 is Sterling. 0.51. Q2 growth is now 5.01%. This But with these good results in the air They are in AUTOREG is a very big leap. Whatever at the market place, I think the only business. Autoreg is not in all contributed to the growth is pointing thing the market needs to do is to go the 36 states, which means to a good direction for the economy up”. they are penetrating into “Yes we are waiting for about 4 or 5 and for the market. It is a confidence other states. As they penetrate banks that normally release their booster. It means that going forward, to other states to handle the results at this time to pay interim we have hope as far as the country is registration of their licences, dividend. Why the results will not concerned. Irrespective of the they will do better. insurgence, banditry and other actually impact those prices the way obvious challenges in the country if we feel is because this thing is given. · BOC Gases: The acquisition GDP can grow to that level, then We know Zenith will pay 5 kobo; we of BOC Gases by TY Danjuma there's hope”. know GTCO will pay 30 kobo. We is going to have a very good “In the money market, the 364 days know Access Bank will not be more impact on that stock going treasury bills has continued to come than 25 kobo. We know that UBA will forward. down. From 7%, it's now about 6%. It not be more than 20 kobo. The only · : Based on the fact that means that the rates are coming thing that will bring shock to the their scheduled AGM may down. Even in the bond market, it's market is if there is a drop in give birth to the release of the like the Government is conscious of dividend pay-out. We have seen that 2019 and 2020 results which reducing their cost of funds. What of Zenith Bank, they paid 30 kobo. is believed that will be better. Insider Watch 03 August 30-September 5, 2021 UPDC leads gainers as market returns 0.01% WtD

he Nigerian Stock market last NGX Banking, NGX Insurance and by 0.43%, 0.19% and 0.16% The Market Breadth positive as 35 week closed on a positive note NGX Oil & Gas indices which respectively. equities appreciated in their share Tas the All Share Index and appreciated by 0.30%, 1.06% and An aggregate of 1.026 billion units of prices against 29 equities that Market Capitalisation appreciated by 0.08% respectively, while the NGX shares were traded in 18.102 deals, declined in their share prices. 0.01% to close at 39,485.65 points Consumer Goods, NGX Industrial valued at N8.18 billion. and N20.573 trillion. and NGX Pension Indices depreciated

Top 10 Gainers Top 10 Losers UPDC led other gainers with 37.59% respectively. ABC Transport led other price decliners their share prices by 9.43%, 7.41% and as it shed 15.38% of its share price, 5.15% respectively. growth week to date, closing at N1.83 Other top ten gainers include: closing at N0.33 from the previous close from the previous close of N1.33. Honeywell Flour (18.83%), Eterna Other top ten price decliners include: of N0.39. This is followed by Unilever Morison, Consolidated Hallmark (18.11%), Regency Assurance Academy Press (-4.88%), UACN (- and Hotel as they both shed their 4.37%), PZ (-4.17%) and NASCON (- Insurance, FTN Cocoa and Transcorp (14.29%), Glaxo Smith (11.48%) and share prices by 10% respectively. Hotel grew their share prices by Capital Hotel (10%) respectively. 3.41%) respectively. 32.14%, 21.74%, 20% and 19.90% SCOA, Japaul Gold and Transcorp shed

Gainers Losers 04 August 30-September 5, 2021 The Danger of Dividends

i n c l u d e p h y s i c a l b u i l d i n g s , between the profit after tax and the which exceeds its generated free cash c o m p u t e r s , f a r m l a n d s , c a r s , amount of physical cash sat in the for the same period, it means it is intellectual property, to generate company's account. The profit after dipping its hands into its reserves or revenues. The process of revenue tax can therefore be manipulated by equity to pay that dividend. Let's take generation however comes at a cost. unscrupulous management teams to a practical example to illustrate all They need to pay staff and keep their be as large or as small as they want it to what we have talked about. be. All they have to do is increase property/ machinery in working order. For the financial year ended In addition to this, the company also inventory sales on credit or reduce the st depreciation/ amortization figures for December 31 2021, Nestle Nigeria needs to pay a tax to the government generated a profit after tax of about each year. a particular accounting period to have a larger PAT and vice versa to reduce N39.2 billion naira, EPS of N49.47, When the costs of production, cost of the PAT. Cash, on the other hand, is traded at N1,505 at year end and maintaining or replacing assets and more difficult to manipulate. declared a total dividend of N60.5 for the taxes are deducted from the the entire year. This is a dividend yield revenue, the left-over funds are How then can we, as personal of 4% and pay-out ratio of 122%. regarded as the profit after tax. It is investors, assess the cash position of Without digging any further, it is from this sum, that the company companies and their capacity to pay a obvious that Nestle, beyond profit management decides on a percentage dividend from it? For this, we need to generated in the financial year, had to to pay-out to shareholders as dive into one of the generally less dip into their cash reserves to pay-out dividends. The remaining portion is understood parts of the financial this dividend. Nestle is a mature kept in the company to fund company statements – Statement of Cashflows company so it can be argued that they growth. and the concept of Free cash flow. are allowed to do this. Most investors think that the profit The statement of cashflows is divided Dangote Sugar, for the same financial Dr. Ajibola Awolowo after tax declared after a financial into 3 broad parts – cashflow from period, had a PAT of N29.78 billion period is sat in the company's bank operating activities, investing naira, EPS of N2.45, share price of ust before you call for my head, I activities and financing activities. N17.6, dividend declared of N1.50. ask that you kindly read this account just waiting to be spent. In reality, this is far from the truth. The Dividend yield is therefore 8.5% and Jarticle. I also like the ringtone Cashflows from operating activities pay-out ratio of 61%. To further whenever I get a credit alert. I cash that sits in the company's takes the profit after tax from the account at the end of each financial investigate this, net cash generated certainly like receiving dividends from income statement, adds all the non- from operating activities was N60.5 companies I invest in but I am also period is very different from the profit cash expenses and account for or the loss declared for that period. billion and capital expenditure aware of the possible downsides when changes in working capital. At the end wasN26.9 billion which yields a free dividends are blindly pursued. These Why is this so? This can only be fully of this section, the company records cash flow of about N33.6 billion. downsides are what this article aims understood if we take a journey the net cash generated from operating When calculated on a per share basis, to highlight plainly. through the cashflows of the business activities. free cash flow per share was N2.27. In Dividends are cash payments made and not remain fixated on its income Next, the company looks at all the terms of the free cash flow, their pay- out to all shareholders of a company statement. A good percentage of the purchases or sales of assets done in out ratio was 66% which still leaves which represent a portion of the sales made by the company are made that financial period to determine the the company with enough cash to profits made in a financial period. The on credit. Trusted and time-tested net cash generated from investing undertake other activities. total amount paid to each shareholder customers take the finished goods activities. It is a positive figure when from the company inventory and pay Due to the immense pressure on depends on the number of shares he more assets were sold than bought company management to pay an ever- or she holds. Dividends provide a for them, sometimes, as much as 90 and negative when more assets were days later. increasing dividend by shareholders, source of passive income for investors bought than sold. management may fall into the trap of as they staked their capital in the The company however records this Finally, the company accounts for paying a dividend at any cost. company which the company rewards sale on their income statement as Unscrupulous management teams by paying a dividend. cash used to finance its activities. revenue earned in that period. To Cash outflows for this will include may cut down on capital expenditures Companies that pay a regular and illustrate this, a company produces dividends paid out in the financial in a bid to boost the free cash flow just growing dividend are investors finished goods which it sells to its period and repayments of debts while so that they can pay a dividend and customer for N100,000.00 on not disappoint their investors. delight. Their shares are in high t h inflows will be new debts incurred or demand leading to relatively high December 29 on credit. The proceeds of any equity sale. This Unfortunately, this amounts to share prices. Companies that do not customer promises to pay in 90 days. generates the net cash from financing mortgaging the future to allow one For the financial year which ends on enjoy the present. pay dividends or pay a meagre st activities. December 31 , the company records dividend, on the other hand, are While dividends are great and provide largely ignored by the market. a revenue of N100,000.00 for this Free cash flow on the other hand sale. This sale, however, is not backed represents the amount of cash that a source of cash flow for investors, we Companies that break ranks by should be mindful of how the money reducing dividend payments will by cash and is reflected on the can be safely withdrawn from the company's balance sheet as a account of a company without used in paying this dividend is suffer a serious decline in their share sourced. A company that has to price as a direct consequence. Just receivable. compromising its operations and its future growth. This is calculated by borrow, cutdown capital expenditure ask one of the top five banks in Just as some revenue on the income or consistently dip into its cash Nigeria. s u b t r a c t i n g m o n e y s p e n t o n statement is not backed by cash purchasing new property, plant or reserves just to pay a dividend today Metrics such as dividend yield and inflows, some expenses are also not equipment (seen as a line item under may be mortgaging its future. dividend pay-out ratio have been backed by cash outflows. These “Cash flow from investing activities”) include depreciation & amortization. Beyond paying a dividend, the growth developed to better evaluate from the net cash generated from of the company and maintenance of dividends. The dividend yield is Depreciation is a cost incurred on operating activities. assets as they gradually age due to its competitive advantage should be dividend declared divided by the paramount on the minds of company share price and expressed as a wear and tear while amortization is a The company management then gradual write-down of the cost decides how best to deploy this free management teams. Shareholders percentage while the pay-out ratio is should learn to pursue the longevity of the dividend declared divided by the incurred in purchasing an asset. cash. It can be used to pay a dividend, pay up its debt or buy back stock. In the company rather than kill the earnings per share expressed as a Both of these items are charged yearly goose that lays the golden eggs for percentage as well. Investors industries that have strong regulators, to the income statement but no like the banking industry, companies short term benefit. generally love companies with a high physical cash is spent in the current dividend yield and pay-out ratio. are forced to only pay dividends from financial period for them. Even the free cash generated in a financial To understand how dividends can though, they are charged as an period. This should however be the Dr Ajibola Awolowo can be pose a threat, we need to first expense, no cash leaves the bank ideal for every company. r e a c h e d v i a t h i s understand how the cash used in account of the company for them. email:valuenigeriawithajibola@ If a company is paying a dividend paying dividends are gotten. Every These non-cash backed income/ yahoo.com company uses their assets, which can expenses distorts the correlation News 05 August 30-September 5, 2021 Custodian Investment Plc reaffirms NNPC declares N287bn as commitment to youth empowerment “The overriding idea is to u s t o d i a n c o n n e c t t h e y o u t h s profit in year 2020 Investment Plc has physically to people who can Corporation. i n t r o d u c e d mentor them by taking them This is sequel to the completion C of the statutory Annual Audit mentorship conference for on a business journey with exercise for year 2020. youths as part of its the hope that someday, they “The NNPC losses were commitment towards youth w o u l d h a v e p o s i t i v e reduced from N803 billion in empowerment. testimonies to share.” year 2018 to N1.7 Billion in The third edition of the year 2019 and the eventual Participants were exposed to declaration of Net Profit in programme was held over p e o p l e l i k e D r. O b y year 2020 for the first time in the weekend at the Eko E z e k w e s i l i , S e n i o r its 44-year history. Hotel and Suites, Victoria Economic Advisor at Africa “ T h i s d e v e l o p m e n t i s Island, which was attended c o n s i s t e n t w i t h t h i s Economic Development administration's commitment by 150 professionals. Policy Initiative (AEDPI); t o e n s u r i n g p r u d e n t The MD/CEO of Custodian Mr. Leke Alder, Principal management of resources and Investment Plc, Wole Oshin, C o n s u l t a n t , A l d e r maximization of value for the said: “We realised that the he Nigerian National position of the NNPC. Nigerian people from their Consulting; Mr. Tonye Cole, youths are going about with Petroleum Corporation Adesina's statement notes that natural resources. co-founder and former T(NNPC) in year 2020 Buhari has disclosed a Net Profit, “I have further directed the the negative feeling that our Group Executive Director, achieved Profit after Tax (PAT) of making it the first time in the 44- Nigerian National Petroleum generation has failed them Sahara Group; Mrs. Tara N 2 8 7 b i l l i o n . T h i s w a s year history of the establishment. Corporation to timely publish and believing that the future President Buhari, who doubles t h e A u d i t e d Fi n a n c i a l Fe l a - D u ro t o y e , C h i e f announced by P resident does not look bright for Muhammadu Buhari. as Minister for Petroleum statements in line with the Executive Officer of the According to Femi Adesina, the Resources stated thus: requirements of the law and as them. So, we came up with House of Tara and Richard President's announcement is in “I am pleased to announce the follow up to our commitment to the idea of a mentorship Mofe-Damijo, a fulfillment of an earlier pledge by declaration of profit after tax of ensuring transparency and conference to bolster their N287 billion in year 2020 by the accountability by public actor and film producer. the Federal Government to confidence. publicly declare the financial Nigerian National Petroleum institutions.”

Nigeria to stop fuel importation at full IMF commences allocation of Special Drawing implementation of PIA- Kyari justified the Federal Rights, Nigeria to benefit immensely he Group Managing gover nment's equity D i r e c t o r o f t h e share in the plant. Nigerian National T He explained that taking nternational Monetary Petroleum Corporation e q u i t y i n D a n g o t e (NNPC), Mele Kyari has Fund has commenced Refinery was well thought said that Nigeria will stop the allocation of Special out, saying the country I the importation of petrol, Drawing Rights to boost the now has a venture that w h e n t h e P e t r o l e u m economies of participating w o u l d e n s u r e t h e Industry Act (PIA) comes production of millions of countries. into full effect, and when the litres of petrol in the In a statement available on Dangote Refinery kicks off country. the website of IMF, the operations. “Our decision to take Managing Director of the He made the disclosure equity in the Dangote International Monetary when he appeared before Refiner y was a ver y members of the House of Fu n d , M s K r i s t a l i n a calculated and conscious Representatives Committee Georgieva, said that the decision,” Kyari said. on Finance during a hearing o r g a n i s a t i o n h a s “Today, we import 100 per on the 2022-2024 Medium commenced allocating cent of our petroleum T e r m E x p e n d i t u r e p r o d u c t s i n t o t h i s Special Drawing Rights of Framework and Fiscal country. about $650bn. S t r a t e g y P a p e r “You now have a venture According to Georgieva, (MTEF/FSP). that will produce close to “ T h e a l l o c a t i o n i s a reserves and reducing their “SDRs are being distributed Representatives of the Fiscal 5 0 m i l l i o n l i t r e s o f significant shot in the arm reliance on more expensive to countries in proportion to Responsibility Commission petroleum product in this domestic or external debt. their quota shares in the ( F R C ) p r e s e n t a t t h e for the world and, if used country where energy is “Countries can use the IMF. This means about h e a r i n g i n f o r m e d t h e wisely, a unique opportunity an issue in every country, space provided by the SDR $275bn is going to emerging lawmakers that the NNPC t o c o m b a t t h i s including the United has been declaring losses unprecedented crisis.” allocation to support their and developing countries, of States of America; no since 2018, but a substantial “The SDR allocation will economies and step up their which low-income countries country will allow any surplus in 2019. provide additional liquidity fight against the crisis.” will receive about $21bn – venture of this nature to She further said that the W h i l e r e s p o n d i n g t o exist without having a to the global economic equivalent to as much as six allocation would be made to questions on the Dangote seat on the board of the system – supplementing per cent of GDP in some Refinery, the NNPC chief company.” countries' foreign exchange countries based on their cases”. quota shares in the IMF. 06 News August 30-September 5, 2021

Preline Limited to acquire 60.98% of Eterna Nigeria's GDP grew by 5.01% in Q2 2021 Plc as substantial shareholders divest Year to date, real GDP grew t e r n a P l c h a s 2.70% in 2021 compared to - C o m p a n y t o a N e w 2.18% for the first half of announced the Investor”. 2020. Nevertheless, quarter Ed i v e s t m e n t o f “ O u r s u b s t a n t i a l on quarter, real GDP grew at - substantial shareholders s h a re h o l d e r s ; L e n u x 0.79% in Q2 2021 compared from the company which I n t e g r a t e d R e s o u rc e s to Q1 2021, reflecting slightly will enable Preline Limited slower economic activity Limited, Global Energy & to acquire 794,969,774 Raw Materials Limited, than the preceding quarter shares of the company. This due largely to seasonality. M e r i s t e m W e a l t h represents 60.98% equity of In the quarter under review, Management Limited, aggregate GDP stood at the company. Radix Capital Partners N39,123,713.32 million in In a notification available Limited, GASL Nominee nominal terms, higher than on the website of the Limited, GTI Capital eports published by the in Q1 2021 year on year, the second quarter of 2020 Nigerian Exchange, Eterna Limited and Cardinalstone with aggregate GDP of National Bureau of indicating the return of Plc stated thus: Partners Limited have S t a t i s t i c s ( N B S ) business and economic activity N34,023,197.60 million, R indicating a year on year executed a Sale and revealed that Nigeria's Gross near levels seen prior to the “We refer to our public Purchase Agreement (SPA) Domestic Product (GDP) grew nationwide implementation of nominal growth rate of statement dated 21st by 5.01% in the Second COVID-19 related restrictions. 14.99%. December, 2020 in which we t h a t e n a b l e s P re l i n e Quarter of 2021. The steady recovery observed The nominal GDP growth notified our Shareholders, L i m i t e d a c q u i r e rate in Q2 2021 was higher According to NBS, this marks since the end of 2020, with the the Nigerian Exchange 7 9 4 , 9 6 9 , 7 7 4 ( S e v e n than -2.80% growth recorded three consecutive quarters of gradual return of commercial Limited (NGX) and the Hundred and Ninety Four growth following the negative activity as well as local and in the second quarter of 2020 Million Nine Hundred and when economic activities general public that some of growth rates recorded in the international travel, accounted Sixty Nine Thousand Seven slowed sharply at the outset o u r s u b s t a n t i a l second and third quarters of for the significant increase in Hundred and Seventy Four) 2020. The Q2 2021 growth rate growth performance relative to of the pandemic. shareholders have formally shares of Eterna Plc was higher than the -6.10% the second quarter of 2020 The Q2 2021 nominal growth informed the Board that growth rate recorded in Q2 when nationwide restrictions rate was also higher than they are in negotiations to representing 60.98% in the 2020 and the 0.51% recorded took effect. 12.25% growth recorded in sell equity holdings in the Company”. Q1 2021. Pension assets rise to Nigerian businesses to do more N12.49tn- PenCom on gender equality- NGX

research done by points behind the global and entrepreneurship through International Finance average in Equileap's dataset favorable workforce policies ACorporation (IFC) in reported in 2020. While and practices and we are partnership with the Nigerian companies assessed scored resolute in our commitment to Exchange Limited (NGX) better than the global average participate in the program revealed that Nigerian on women's participation as going forward,” said Temi companies scored better than leaders on boards and Popoola, Chief Executive global averages for some compared favorably with Officer, Nigerian Exchange a s p e c t s o f w o m e n ' s global averages on women in Limited (NGX). participation in the workforce. senior management, work needs to be done to achieve The report is part of the The outcome of the research gender balance—between 40 Nigeria2Equal initiative revealed further that Nigerian and 60 percent of each launched in 2020 by IFC in companies will need to further gender—across the four partnership with Nigerian step up efforts to bridge the i g u r e s r e c e n t l y categories. E xc h a n g e ( N G X ) . T h e bonds, Treasur y Bills, gaps that remain between program, which runs until p u b l i s h e d b y t h e Agency Bonds and Sukuk. women and men in the private To help improve gender N a t i o n a l P e n s i o n 2023, aims to reduce gender F · Investment in Local sector. balance in the private sector, gaps in the private sector Commission revealed that money market got about the report recommends through research and case Nigeria's pension fund assets The study, 'Gender Equality in improving gender equality in N1.653 trillion investment. Nigeria's Private Sector', studies, a 15-company peer u n d e r t h e C o n t r i b u t o r y This represents 13.24% of formal employment, access to learning platform, and provide Pension Scheme (CPS) have assessed gender gaps at 30 finance for women who want the total pension funds. leading companies listed on firm-level advisory support to grown to N12.492 trillion in the to start a business, and access companies to implement · A total of N904.97 NGX using the Equileap to markets through supply month of May, 2021. This billion was invested in Scorecard, a methodology that gender action plans. The represents 0.76% growth from chains and procurement program will support the Corporate Debt Securities. evaluates gaps across four opportunities. N12.398 trillion recorded in This represents 7.24% of c a t e g o r i e s – c o r p o r a t e private sector in Nigeria to the Month of April. total pension funds. leadership, compensation and “NGX has gender equality i n c r e a s e w o m e n ' s According to the figures flexible work, corporate embedded at the core of its participation as leaders, · I n v e s t m e n t i n working practices and has employees, customers, and available on the website of Domestic Ordinary shares policies to promote gender equality, and efforts on m a d e g i a n t s t r i d e s i n entrepreneurs by promoting PenCom, the following, the got N821.344 billion. This breakdown of how the funds commitment, transparency, galvanizing capital market favorable workforce policies represents 6.57% of the total and accountability in closing stakeholders to institutionalize and practices, development of are deployed can be found pension funds. below: gender gaps. gender equality within their products and services that · I n v e s t m e n t i n o p e r a t i o n s . T h e target the women's market · A total of N8.348 Foreign Ordinary Shares got Overall, Nigerian companies Nigeria2Equal program comes segment, and deliberate scored an average of 32 trillion was invested in FGN N103.679 billion. This as a strategic initiative measures that empower Securities. This represents percent across 19 gender designed to support the private women's participation in represents 0.83% of the total equality metrics for the four 66.83% of the total pension pension funds. sector in increasing women's corporate procurement. funds. This include FGN categories, two percentage participation in employment Money Market 07

August 30-September 5, 2021 MD canvasses financial institutions, Wema Bank partners SheCan private investors' synergy to bridge infrastructure gap Nigeria to empower women Managing Director noted that though Nigeria has made moderate progress in terms of infrastructure development regarding improved access to finance, strong telecom penetration and moderating power production, there is limited productivity in the transport sector when compared to other sectors and regions. He lamented that private sector i n v o l v e m e n t i n infrastructure development is constrained by selection of ema Bank Plc in her background, gender, low-impact projects; weak its commitment education, and career. feasibility study and business to help women plan; delays in obtaining W “ W e m a B a n k w i l l anaging Director, Transport Technology (NITT) licenses, approvals and achieve their potential has continually partner with Ecobank Nigeria, 2021 Transport Technology permits, and inability to partnered with SheCan women-focused initiatives MPatrick Akinwuntan Conference in Abuja, noted secure guarantees. Nigeria to empower women like SheCan Nigeria to has advocated a synergy that given the bulk of activities Mr Akinwuntan submitted through skills acquisition empower adolescent girls between financial institutions across the infrastructure that the attractiveness of the and private investors to address project lifecycle in Nigeria, transport sector must be programme. a n d w o m e n t h r o u g h infrastructure deficit in the there is a need for a synergy compelling to attract the The Head of Gender s t r a t e g i c t r a i n i n g , country. Akinwuntan in a between the private sector who required funding, noting that Banking, Abiola Nejo, said, mentoring, counselling, skill there is high investors' p r e s e n t a t i o n t i t l e d are major project sponsors and “A major takeaway from the 'Transportation Infrastructure financial institutions in appetite for Africa as 72 per acquisition and community Development Financing In harnessing the desired value cent of available funds for programme was to help e m p o w e r m e n t Nigeria' delivered at the across the ecosystem. A frican infrastructure every woman realise that she programmes.” N i g e r i a n I n s t i t u t e Fo r T h e E c o b a n k N i g e r i a investment are from the can do more irrespective of private sector.

Zenith Bank launches 'ZIVA' to CBN orders Microfinance Banks to stop forex transactions enhance customer service

enith Bank Plc has i n t r o d u c e d Z I VA Z(Zenith Intelligent V i r t u a l A s s i s t a n t ) , a n A r t i f i c i a l I n t e l l i g e n c e p o w e r e d C h a t b o t o n W h a t s A p p t o e n a b l e s c u s t o m e r s t o p e r f o r m financial transactions and enjoy real-time customer service from their mobile he Central Bank of foreign exchange transactions phones. Nigeria (CBN) in a are a significant risk with dire consequences for financial Customers can enroll by Tc i r c u l a r t i t l e d 'Cessation of Non-Permissible system stability. simply adding the bank's Activities by Microfinance “It has, therefore, become verified WhatsApp mobile B a n k s ' h a s c a u t i o n e d imperative to remind all MFBs to number 07040004422 on microfinance banks in the strictly comply with the extant country to stop engaging in R e v i s e d R e g u l a t o r y a n d their mobile devices, agree to foreign exchange transactions Supervisory Guidelines for the legal terms of use and and other unauthorised Microfinance Banks in Nigeria then initiate a conversation. dealings. 2012 (the Guidelines).” The product provides the According to apex bank, “CBN B a s e d o n t h e r e m i t o f convenience for the bank's has observed the activities of microfinance banks, they are some Microfinance Banks strictly prohibited from foreign customers to interact and (MFBs) that have gone beyond e x c h a n g e t r a n s a c t i o n s , transact on a 24-hour basis on customers will be able to They will also be able to the remit of their operating according to the CBN. the encrypted WhatsApp o p e n n e w a c c o u n t s , confirm cheques, pay bills, licenses by engaging in non- Consequently, microfinance p e r m i s s i b l e a c t i v i t i e s platform. receive instant transaction apply for loans, block their b a n k s t h a t d e a l i n f o r e x especially wholesale banking, transactions risk sanctions. notifications, check their accounts, and request mini With this capability to foreign exchange transactions Microfinance banks are meant respond to chats/queries b a l a n c e s o n t h e g o , statements, among other and others.” to focus primarily on providing anchored on the existing transfer funds and top up banking services. “Given the comparatively low financial services to retail and W h a t s A p p p l a t f o r m , airtime. capitalisation of MFBs, micro-clients. dealing in wholesale and/or August 30-September 5, 2021 08 Earnings 09

August 30-September 5, 2021

Zenith Bank grows HY 2021 profit by 2.21%, declares 30 Honeywell Flour declares C o n s o l i d a t e d H a l l m a r k kobo interim dividend to N33bn revenue in three Insurance declares 2 kobo shareholders months i n t e r i m d i v i d e n d t o Ze n i t h B a n k o n F r i d a y Honeywell Flour Mills last week shareholders published its Audited Financial published its First Quarter report Consolidated Hallmark Insurance Statement for the period ended 30 June 2021. for the three months ended 30 Plc has declared an interim dividend of 2 kobo to The financial giant reported Gross Earnings of June 2021. The result shows year on year its shareholders for the period ended 30 June N345.559 billion for the six months period, growth in the company's top line and bottom line 2021. down by 0.15% from N346.088 billion figures. The underwriting firm achieved year on year reported the previous year. A turnover of N33.057 billion for the three growth in its top line and bottom line figures for Profit after tax grew year on year by 2.21% to months period, up by 25.23% from N26.396 the period under review. N106.119 billion from N103.826 billion billion. Gross Premium Written of N6.085 billion was reported the previous year. Profit after tax for the period under review is reported for the six months period, up by Earnings per share of the Group increased to reported as N150 million, up by 233.33% from 14.07% from N5.335 billion reported in Q2 N3.38 from the EPS of N3.31. N45 million reported the previous year. 2020. At the share price of N24.3, the P.E ratio of Earnings per share of Honeywell for the three The company declared a profit after tax of Zenith Bank stands at 7.19x with earnings months period increased to 2 kobo from the EPS N436.486 million, up by 47.76% from N295.397 yield of 13.91%. of 1 kobo reported the previous year. million reported the previous year. An interim dividend of 30 kobo has been At the share price of N1.6, the P.E ratio of Earnings per share of the underwriting firm grew declared to shareholders, subject appropriate Honeywell Flour Mills stands at 84.59x with to 4 kobo from the EPS of 2 kobo achieved the withholding tax. earnings yield of 1.18%. previous year. Qualification date is 10th of September, 2021. At the share price of 56 kobo, the P.E ratio of Closure of Register is on 13th, September Regency Assurance reports Consolidated Hallmark Insurance stands at 14x 2021. N4.18bn turnover in HY 2021 with earnings yield of 7.14%. Payment date for the interim dividend is on Regency Assurance Plc recently Qualification date for the interim dividend is on 20th September, 2021. published its Second Quarter Friday, August 13, 2021. The Register of report on the website of the Nigeria Exchange Shareholders will be closed from Monday, Group. August 16, 2021 to Friday, August 20, 2021. Guinness Nigeria reports Payment date is 2nd September 2021 N1.26bn as profit for the The underwriting firm for the period end 30 June year 2021 reported Gross Premium Written of H1'21: SKYAVN Bounce back Guinness Nigeria on Thursday N4.184 billion, up by 3.16% from N4.056 billion reported the previous year. from COVID downturn, Grew published its Audited Financial Pat by over 3000% Statements for the year ended Profit after tax of N544.836 million was declared 30 June, 2021. The report shows for the six months period, marginally down by The half year results of Skyway year on year growth in the company's topline 1.02% from N550.463 million declared the Aviation Handling Company Plc and bottom line figures. previous year. shows its recovering from pandemic-induced downturn that muted their A turnover of N160.416 billion was reported The earnings per share of the company earnings in first half of 2020, as the aviation for the twelve months period, up by 53.69% is 8 kobo, same as the previous year. company posted record profit After Tax growth from N104.376 billion reported the previous At the share price of 45 kobo, the P.E ratio of of 3505.13% to close the current period at year. Regency Assurance stands at 5.51x with N411.8 million from the close of N11.4 million Guinness declared a profit after tax of N1.255 earnings yield of 18.16%. posted same period in covid year due to ban and billion as against the loss of N12.579 billion heavy restrictions on flight both at local and declared the previous year. This represent international levels. Meyer Plc announces N1.50 109.98% growth when compared to the loss The half year Unaudited report which hit the i n t e r i m d i v i d e n d t o recorded the previous year. market on the 30th of July, 2021 showed an shareholders Earnings per share (EPS) of the company for upsurge of 34.30% in revenue from N3.093 the period under review improved to 57 kobo The Board of Directors of Meyer Plc billion in 2020 to N4.154 billion in the current from the EPS of –N5.74. has announced that an Interim period under review. Dividend of N1.50 per 50K ordinary The earnings per share consequently grew to At the share price of N31, the P.E ratio of share, subject to appropriate withholding tax 30kobo from 1kobo in the receding period of Guinness stands at 54.09x with earnings yield and approval will be paid to shareholders whose 2020. of 1.85%. names appear in the Register of Members as at

the close of business on the 13th of August The PE Ratio for the current period stands at Beta Glass boosts half year 2021. 10.39x and the earnings yield at 9.63% at a p r o f i t b y 1 1 2 . 4 7 % t o reference price of N3.16, it closed on Friday last The Register of Shareholders will be closed from N2.82bn week. 16th of August 2021 to 20th of August 2021. Beta Glass Plc in its published On 25th of August 2021, dividends will be paid Second Quarter report for the electronically to shareholders whose names S e p l a t p r o p o s e s i n t e r i m period ended 30 June 2021 appear on the Register of Members as at 13th of d i v i d e n d o n $ 0 . 2 5 t o achieved significant growth in its top line and August 2021, and who have completed the e- shareholders in HY 2021 bottom line figures. dividend registration and mandated the Seplat Energy Plc has announced an A turnover of N15.58 billion was reported for Registrar to pay their dividends directly into interim dividend of $0.25 to its the six months period, up by 37.43% from their Bank accounts. shareholders for the half year N11.34 billion reported the previous year. The company in its published Second Quarter period ended 30 June 2021. Profit after tax grew by 112.47% to N2.82 report for the period ended 30 June 2021 The oil firm in its published Second Quarter billion from N1.33 billion reported in Q2 2020. reported a turnover of N485.461 million, up by report achieved significant growth in its top line Earnings per share increased to N5.63 from 23.22% from N393.965 million reported the and bottom line figures. previous year. the EPS of N2.65, which translates to A turnover of N120.444 billion was reported for 112.47% growth year on year. Meyer Plc declared loss after tax of N9.326 the six months period, up by 50.36% from At the share price of N52.95, the P.E ratio of million for the six months period as against the N80.106 billion reported the previous year. Beta Glass stands at 9.40x with earnings yield loss after tax of N60.731 million declared the previous year. Profit after grew to N14.118 billion from a loss of 10.64%. after tax of N37.782 billion reported in Q2 2020, 10 Earnings

August 30-September 5, 2021

this translates to 137.37% growth year on year. previous year. Dangote Sugar files 28% Revenue Earnings per share (EPS) of the Company Earnings per share (EPS) of the Healthcare boost, Grew EPS to N1.04 in H1'21 increased to N23.99 from the EPS of –N64.21 Company increased to 57 kobo form the EPS of 24 Dangote Sugar Refinery plc boost its reported in Q2 2020. kobo, which translates to 137.17% growth year revenue by 27.82% in the latest half on year. year 2021 scorecard released to the At the share price of N770, the P.E ratio of Seplat th Energy stands at 32.09x with earnings yield of At the share price of N6.50, the P.E ratio of Fidson market on July 29 , 2021. The result 3.12%. Healthcare Plc stands at 11.40x with earnings shows that the company's total yield of 8.78%. revenue appreciated to N131.95 billion from N103 Qualification date for the interim dividend is 12th billion recorded same period last year. August 2021. The Register of Shareholders will be closed on 13th August 2021. On 13th September The company's Profit after tax for the six months th 2021, the interim dividend will be paid ended June 30 , 2021 was up by 8.85% to close at electronically to shareholders whose names Prestige Assurance boosts HY N12.6 billion above N11.6 billion recorded same appear on the Register of Members as at 12th 2021 profit by 25.17% period last year. August 2021, and who have completed the e- Prestige Assurance Plc published its The company's shareholders' earnings per share dividend registration and mandated the Registrar Financial Statement for the period grew by 8.85% to stand at N1.04 from N0.95 to pay their interim dividend directly into their ended 30 June 2021. reported last same period in 2020. Bank accounts. The underwriting firm reported Gross premium The PE Ratio of Dangote Sugar is at 17.54x at a written of N5.433 billion, up by 38.86% from reference price of N18.20 with an earnings yield of BUA Cement posts N43.4bn as N3.913 billion reported the previous year. 5.70%. profit in H1 2021 Profit after tax for the six months period grew by BUA Cement on Thursday last week 25.17% to N776.5 million from N620.3 million Custodian Investment Records published its financial report for the reported the previous year. N4.6bn Profit in six months period ended 30 June 2021. The Earnings per share (EPS) of the company Custodian Investment plc in its second result shows year on year growth in increased to 6 kobo form the EPS of 5 kobo quarter unaudited financial report for the company's top line and bottom line figures. reported same period last year. the period ended June 30th, 2021 A turnover of N124.28 billion was reported for the At the share price of 49 kobo, the P.E ratio of recorded a profit after tax (PAT) of six months period, up by 22.73% from N101.26 Prestige Assurance stands at 8.36x with earnings N4.633 billion, growing by of 2.19% when billion reported the previous year. yield of 11.96%. compared with N4.534 billion that was made previously in 2020. Profit after tax grew by 24.64% to N43.396 billion from N34.819 billion reported in Q2 2020. The Investment Holding Company having interest

Earnings per share (EPS) of the company in Life Insurance, General Insurance, Pensions, First Bank reports N38bn as increased year on year by 24.64% to N1.28 from Trustees, Property and Financial Services grew its profit in HY 2021 the EPS of N1.03 the previous year. topline figures to N42 billion in the current period, Holdings Plc soaring by 20.49% when compared with N35 billion At the share price of N67.3, the P.E ratio of BUA (FBNH) on Friday 30th July, 2021 recorded in 2020. Cement stands at 52.52x with earnings yield of published it Second Quarter result 1.90%. Earnings per share for the period under review grew for the period ended 30 June 2021. to N0.79 from the previous earnings per share of Gross Earnings of N291.388 billion was recorded N0.77 in half year 2020. Wema Bank boosts Q2 PAT by for the six months period, down by 2.91% from With reference to the share price of N6.25, the P.E 148.61% to N3.72bn N300.136 billion recorded the previous year. stands at 7.93x with earnings yield of 12.60%. Wema Bank Plc on Thursday last Profit after tax for the six months period was week published its Second Quarter N38.045 billion, down by 23.08% from N49.463 HY'21: UACN Declares N46bn report for the period ended 30 June billion reported the previous year. 2021. The result shows year on year Topline figures, sheds EPS by Earnings per share of the Group for the period growth in Bank's top line and bottom line figures. 34.15% under review drop to N1.06 from the EPS of UAC of Nigeria Plc released its half year Gross Earnings of N41.33 billion was reported for N1.38 the previous year. the six months period, up by 8.33% from N38.15 unaudited financial report on July 28th, At the share price of N7.4, the P.E ratio of FBNH billion reported the previous year. 2021. The company grew its Topline stands at 6.98x with earnings yield of 14.32%. figures by 26.93% to settle the period at 46.499 Profit after tax soared by 148.61% to N3.715 billion against the previous close of N36.633 billion billion from N1.494 billion reported in Q2 2020. in previous period of 2020. boosts half Earnings per share (EPS) of the bank increased to year profit by 51.91% to The Profit before tax of the company closed at 1.296 10 kobo from the EPS of 4 kobo in Q2 2020. N191.63bn billion, up by 25.35%, when compared with its At the share price of N0.85, the P.E ratio of Wema previous close of N1.034 billion in half year of 2020. Dangote Cement has published its Bank stands at 8.83x with earnings yield of Second Quarter result for the period UACN declined its Profit after tax by 34% resulting 11.33%. ended 30 June 2021 on the website from negative impact of high cost of sales to close at of the . N762.6 million away from the previous close of N1.158 billion in the preceding period of 2020. The result shows year on year growth in the top Earnings per share for the period consequently Fidson Healthcare announces line and bottom line figures of the company. dropped to N0.26 for the period under review, N12.9bn turnover, PAT rises by A turnover of N690.545 billion was reported for shedding 34.15% from EPS of N0.40 in HY'20. 137.71% the six months period, up by 44.81% from With reference to the share price of N11.20, P.E Fidson Healthcare Plc has published N476.852 billion reported the previous year. ratio of UACN stands at 42.32x and earnings yield of its Second Quarter earnings for the Profit after grew by 51.91% to N191.630 billion 2.36%. period ended 30 June 2021. from N126.143 billion reported the previous year. The result shows significant growth in the Earnings per share (EPS) of the Cement company's top line and bottom line figures, year manufacturing giant increased to N11.25 form on year. the EPS of N7.40, which translates to 51.91% A turnover of N12.895 billion was reported for the growth year on year. six months period, up by 57.17% from N8.205 At the share price of N248, the P.E ratio of billion reported the previous year. Dangote Cement stands at 22.05x with earnings Profit after tax soared by 137.17% to N1.19 yield of 4.53%. billion from N500.635 million reported the 11

August 30-September 5, 2021 12 Entrepreneur

August 30-September 5, 2021 Nigerian Youth: Gainful engagement through social media

opportunity to connect in a very personal business prospects. Social media can equally and meaningful way to customers and come with some challenges, even for promotion of business and services. currently established entrepreneurs, because there are so many social media tools Social media is growing and now becoming and platforms it can be hard to know where the business hub. Social media will to begin. However, with adequate training on inevitably continue to shape all aspects of social media usage, an entrepreneur should business opportunities across industries. be able to know what he hopes to achieve by Today 2.45 billion monthly active users are using social media. How much time can you on Facebook as of the third quarter of 2019, devote to social media? What are the most and more than 100 million people use effective platforms to use? What are you Instagram every month. LinkedIn has 500 trying to achieve for your business? While million total LinkedIn users. Twitter has over social media gives you the chance to build 330 million monthly active users, when you brand awareness and customer loyalty, you add up this to the number of people using need to have a clear idea of how to handle YouTube, Nairaland, Instagram, Bet9ja, negative feedback about your business. You Pinterest, and other social media platforms. need to ensure that what you post and how It is easy to conclude that this social media you interact with people presents a holds ample opportunities for would-be professional image to the world. Therefore, entrepreneurs with growing users. Nigerian with adequate knowledge and capacity Youths can take advantage of social media, building, a business niche can be created which is a fast, inexpensive, and effective and nurtured. It is now easier than ever for way to promote a business and reach out to willing prospective entrepreneurs to customers. promote new products or services, build brand awareness, personally interact with With the financial constraints of setting up a existing and potential customers, directly shop or office and huge advertising cost to target customers with marketing campaigns. draw customers, a prospective entrepreneur might not start-up or scale-up. But with Social media provides an easy way for creating a presence on platforms like potential customers to express interest in Facebook and Instagram to get direct sales your business and your products. However, from customers, the cost is low. The youths the first point of call is to acquire a skill that can leverage on this and on their social could generate steady income and make you media networks they already have, as well as independent. Social media can be an get insights from social media to improve effective way to build and promote the skills their business ideas and market positioning. and tour business reputation once the Social media is super powerful and marketing campaign is right. Be sure your successful right now because of the adoption service/business with getting the big impact rate of technology in the world. According to it deserves on the internet once you can Timi Olubiyi, Ph.D the co-founder of Alpha Brand Media, and a deliver. Your social media plan and strategy social media consultant Brent Csutoras he should contain a smart mix of engaging asserts that "Any social media site can be family and friends who can recommend your outh unemployment is one of today's Therefore, Nigerian youths need to be effective for marketing if you take the time to business or services to others. People can big global issues. No doubt, our equipped for self-employment to achieve understand what type of content performs talk and positively think about your business, Ycountry Nigeria is the most populous notable job creation and independence. well, who the audience is, and get creative with good posts and service reviews. Social nation in Africa and with the largest Entrepreneurship can be a powerful tool to about how you can provide your content or media can provide a platform for customers economy on the continent, however, with the help fight youth unemployment. product in a way they would appreciate it and to talk with each other and talk about their prevalent youth unemployment issue. At accept it. However, understanding the social experiences with you and your services. This present, Nigeria's population is estimated to Youth entrepreneurship offers innovative media audience is important and rewarding. is called social selling, which can help a great be over 200 million, ranking seventh in the solutions for economic growth among young deal on the internet; once you are consistent world, with young people forming a larger people. Entrepreneurship will bring about with staying engaged with your audiences part of its citizenr y. The youth self-employment, which is one of the Effective use of social media can bring great and let them see that you are there for them unemployment rate in Nigeria has reached significant ways out of this unemployment opportunities for your business but will when they need your service and products an alarming record, according to the issue. Therefore, this article looks at one of require some thought and planning. More goes a long way in achieving results. National Bureau of Statistics (NBS). the strengths youths can leverage on youth have smartphones and computers in productively, which is social media. Most of the home but are not open to social media The youths are acknowledged as the bedrock the educated Nigerian youths are sociable, on which a society is anchored, and they energetic and are very internet savvy, should be a formidable advantage to the therefore for the ready and willing once economy if well harnessed. At present, there is hope in capacity development and hundreds of millions of young people are entrepreneurship after their formal unable to find a meaningful job that will education. Once skill acquisition and enable them to support themselves and their adequate empowerment have been achieved families. More so, graduates from university through entrepreneurial development, it have many difficulties in getting established can be promoted on social media. Thus, a after school. They are rarely independent, business idea can be developed, along with and the once without formal education who the technical skills acquired online. Believe should be engaging in vocational training are me, the internet and communication not getting it as well. Deficient school technology (ICT) sector offers huge curricula are also a growing concern and a opportunities for young Nigerians to be big issue in the country because it ought to future entrepreneurs and small business Source: Internet worldstats (2018) Key statistical indicators for the world's internet, address skill learning and capacity building. owners: Social media provides the mobile and social media users 13

August 30-September 5, 2021 Building a career with walls

graduated from the I love to write, speak on S - Solidify you, don't ignore it. university in 2002, podiums/platforms, teach and No matter how far I move worked for a while, I mentor people whether Ask yourself the right away from my path, my steps went to FRCN in 2006 directly or indirectly, while are always redirected to a where I learnt the questions- Are you in the right working on new ideas and career that promotes my art/act of Presentation. I had profession? Does your current innovations for business. purpose. I find myself an opportunity to work with career align with your purpose D o i n g t h i s i s a t r u e constantly given task that are Catherine Tamara Oyewole the media after my 2weeks in life, do you struggle to give representation of the woman I in line with having a media attachment to a radio house, your best or do you do your job am and the woman I have presence and leadership. You their career path well into their but didn't, even after I became with ease? become. It is time to build can never run away from your adult age and today their familiar with some known So many people are doing the walls. shadow, so don't try. Have you accomplishments goes to show faces in the industry who wrong job, working in the ever wondered why you are that finding and being in the right encouraged me to give it my wrong places, all in a bid to career, pays off eventually. Walls are solidifiers to building tagged with responsibilities best shot. survive. It is not a surprise that Start building, one brick on projects, giving it a perfect that soothe your personality? I went back to work as a the years keep rolling by another, step by step till you find shape, required look and w i t h o u t a n y p e r s o n a l No matter how far you go, your marketer where I did lots of destiny will keep knocking. your purpose in life. presentations until I became proper finishing. They are also achievement. No growth of viewed as barricades and any kind. When you should Don't delay it. Identify that an acting unit head where I one thing that keeps coming Solidify your walls! To have a mastered the act of closing out s o m e s o r t o f d e f e n c e have attained a position of protecting whatever is behind leadership, you are still being along your path. Your chosen career with walls is to be the best at on sales through good career should have a link to what you do. Be that person that presentation. those walls. led. Lots of people are Are you accepting whatever gambling their lives away your purpose in life. society cannot do without. Be that I left marketing and found person that no matter how trends myself as a Customer life brings your way, are you in because they want to be Decide to build- One thing change, you will still be standing. Experience officer where the wrong career that leaves viewed as the perfect "office most people fear, is to start Get certified. Add to your learning speaking to and addressing you at a spot for so long or are boy or girl". Are you fulfilled or again. It is never too late to p r o c e s s . A d d t o y o u r clients' issues is a priority. I you content with your present trying to be accepted socially start. Once you discover you accomplishment. When others are have anchored training position which allows you a by limiting yourself to that job are in the wrong career, it is failing, let those walls you have events, managed other m o n t h l y w a g e w i t h o u t or limiting yourself to that never too late to start afresh. built, begin to speak for you. activities relating to my Team securing your future? Then it career which does not give a When you begin to do the right in this short while and I have is time to Build your walls. true picture of "You". thing, only then will your Let your career lead you to your never been afraid to start or purpose be revealed. I have purpose in life and not take you not surprised when everything A - Ask Identify the right career path! seen actors, singers, business away from it. I did had an angle of I - Identify No matter how far you are men, speakers who identified presenting in it. D - Decide gone. Your identity will find

Akindele Afolabi Why your academic qualification is not enough

very job available has its number is able to secure paid graduate applying for the job which graduates with minimum of a very important that you have this own minimum general employment in the first one year minimum level of qualification is second class upper and that what f i r s t . Equalification that is a f t e r g r a d u a t i o n . T h e Master's degree is most likely would separate him from them. He You must realise also that you required and you must have this to distinguishing factor at this point is j o k i n g . got the point after that illustration. cannot afford to be lost in the pool, position yourself for getting the job. not the fact that you are a graduate You must understand that your My question to you now is what you must endeavour to stand out. This does not give you any but simply that you possess some first degree does not give you an separates you from the whole Give yourself an edge over others advantage over others, it only other attributes that separate you advantage over others; it only puts number of job hunters that have that have the same minimum qualifies you to be in the general f r o m t h e o t h e r s . you in a pool. You must therefore the same minimum generic qualification with you. Never ever population of the number to be I have not seen it happened before work on other attributes to give you q u a l i f i c a t i o n w i t h y o u ? allow yourself to be lost in the selected from. It is only a beginner where a serious minded and the leveraged you need to stand out This singular reason accounts for crowd. Always do better than the and must not be a resting point or a business focussed organisation among thousands or millions of why you don't get called up for others so that you can quickly be bargaining power for you in your would hire a candidate simply o t h e r s l i k e y o u . interviews when you apply for jobs. noticed. Your packaging of yourself j o b s e a r c h . because he has graduated from a I am usually dazed when I There is no distinguishing factor to must be different from others and T h i s g e n e r a l m i n i m u m higher institution. This is because interview or chat with fresh separate you from the lot. During must stand you out. You must qualification will help determine if the presence or absence of other graduates. They are so excited with an election period to elect the devise your own professional way you are qualified or not to be a t t r i b u t e s h a s n o t b e e n the fact that they are now president; all the contestants have of communicating your value considered for the role to be filled. a u t h e n t i c a t e d . graduates and they believe that certain things in common. They proposition to your potential With this also, we would know if alone qualifies them to earn a job are all citizens of the country employer. This will reflect in such y o u a r e o v e r q u a l i f i e d . whether by birth or naturalisation, tools like your resume. A poorly You need to understand the that supposedly an employer owes A fresh graduate has not gotten any but would anyone vote for any of prepared resume will disqualify general minimum qualification them. How ridiculous! In a advantage over another graduate them simply because he is a citizen you from being shortlisted to a that is required for your desired job conversation with a fresh simply because she is a graduate. of that country? If that is the only point where your other attributes and ask if you have it or not, and if graduate, I asked a very simple She has only been privileged to be criteria for selection, then you can be assessed and once you miss not, how can you acquire it. Every question; why should you be in the general number of job would tick the names of all the this opportunity, you will continue job has a level and each level of job considered for a role now? He was applicants. It is the possession of contestants as your choice because to enjoy with the rest of the lot. has its minimum general required so proud to announce that he was a other attributes that gives her an they are all from the same country. General qualification are usually qualification. For instance, a graduate and that he made a advantage over the other graduate By now you should know that while assessed in your absence, you secondary school leaver would second class upper division. When j o b s e e k e r s l i k e h e r . a generic qualification gives you therefore need to push forward a notB apply for the job of a graduate I asked if that was all, the look on According to a World Bank report the opportunity to be in the pool of good communication technique so because he is not in the number to his face pre-empted his next in 2004, there are about 100,000 potential candidate, it does not give that when you are not there, you be selected from. He is already question, what again? I told him graduates produced every year in you any advantage over the next are still clearly communicating disqualified. So also a fresh that I would just clap my hands and Nigeria and only about 10% of this I will get a thousand fresh potential candidate. It is however value. 14 Beginers Guide

August 30-September 5, 2021 Demand, Supply and Stock Price movement

he law of supply and The same inverse relationship selling a particular stock. they'll do it in a narrow price range. demand is an economic holds for the demand of goods and It's possible for a stock to stay in this If a company reports surprisingly theory that explains how services. However, when demand range for days or even months low earnings, demand for its stock T supply and demand are increases and supply remains the before something else disrupts the might wither. And as the price related to each other and same, the higher demand leads to a supply/demand balance. drops, the balance between buyers how that relationship affects the higher equilibrium price and vice and sellers is changed. Buyers will If demand for a stock exceeds the price of goods and services. It's a versa. begin demanding discounts off the supply, its price will rise, but it will fundamental economic principle In this regard, you might have read existing price and many motivated only rise to a point where buyers that when supply exceeds demand and heard a lot of explanations sellers will accommodate them. suspect that demand is waning. At for a good or service, prices fall. about stock prices and their When there are more sellers than that point, holders of the stock will When demand exceeds supply, movement, why they rise and fall there are buyers, this creates more begin selling. Some might have prices tend to rise. seemingly at random. We have supply than demand so the price ridden the price up and they believe There is an inverse relationship sometime in one of our past edition likewise falls. a reversal is coming so they take between the supply and prices of discussed about the influence of their profits and sell. At some point, a stock's price might goods and services when demand is earnings on stock prices or the drop to a level where buyers find it For whatever reason, the price unchanged. If there is an increase economy. While all these factors do attractive, or some other factor will begins to fall as more owners sell. in supply for goods and services indeed figure into price changes, change the dynamic. As more There's now more supply than while demand remains the same, the reality is that they have a little buyers move into the market, there is demand. The holder of the prices tend to fall to a lower direct impact on prices. But these demand grows faster than supply stock lowers the price to entice equilibrium price and a higher and other factors do change the and the price correspondingly goes buyers. The same dynamic works equilibrium quantity of goods and balance of supply and demand, up. on the other side, but in reverse. As services. If there is a decrease in which is integral. the price falls, it will reach a level supply of goods and services while Sometimes supply and demand find Stock prices are a function of supply that buyers find attractive. As demand remains the same, prices a balance—a price that buyers and demand, although like I said buyers acquire shares, the stock's tend to rise to a higher equilibrium a c c e p t a n d t h a t s e l l e r s earlier, other influences, such as price will rise because sellers must price and a lower quantity of goods accommodate. Prices will bounce earnings and the economy, might be enticed to let go of their shares. and services. up and down when supply and affect the desirability of owning or demand are roughly equal, but 15 August 30-September 5, 2021 Health Benefits of Deworming

ecently, my roommate toilet complained about her · N e v e r l e a v e f o o d eye lids moving on its R uncovered own, so she requested me to help her check it, which I confirmed to · Always drink filtered or be so. Then, I asked her when the bottled water last time she dewormed herself was. Surprisingly, she replied, · D o n o t e v e r e a t r a w "that's probably when i was a little vegetables and fruits without girl." I could only imagine how washing them with clean many years ago that was and the water. legions of worms already occupying her intestines. I Some home remedies are also encouraged her to complain to beneficial for deworming and to ease the doctor on duty with her to the discomfort: cross check with my suspicion. After seeing the doctor, she told · Garlic – Raw garlic is charged me the doctor told her similar with amino acids containing thing. Incidentally, I was sulphur, which act as natural experiencing increased appetite deworm for children by for food during that period and killing parasites and expelling people were complaining I was them out of your body for looking too skinny. I also noticed I good. was always feeling nauseous after · Pumpkin seeds – are rich in eating. And since it appears we poor communities or areas where Treatment of Intestinal One of the most important cucurbitacin, which can were having same problem but cleaning does not frequently Worms aspects of prevention is basic paralyze worms and make it different signs and symptoms, we happen. Those who walk without sanitation. impossible for them to agreed to deworm ourselves. Few wearing any socks or shoes in Although intestinal worms sound For example, people should survive inside the body. days later, she told me the high-risk areas are most likely to like a serious medical condition, always wash their hands both movement had stopped and I contract worms. t r e a t m e n t i s o f t e n · Raw Papaya is known for its before and after using the toilet to noticed my increased urge for straightforward. In some cases, medicinal properties due to avoid possible exposure. food has also stopped and I was Symptoms of the presence of the person may not need any an enzyme Papain found in it. not feeling nauseous anymore. I Intestinal Worms in the treatment or medication at all if Washing the hands before This enzyme works as an have the pleasure to introduce human body they have a healthy immune cooking or handling food is also anthelmintic which kills this topic to you and it would form s y s t e m . I n o t h e r c a s e s , very essential. intestinal worms whereas the basis of our discussion for the g a s t r o e n t e r o l o g i s t s w i l l Many intestinal worms enter the papaya seeds help to expel Common symptoms include: current week's edition on family sometimes choose to monitor the body through the food that a worms out of the body. and corporate wellness. We person first to see if their body can person eats. As a result, it is · Abdominal pain · Carrots – are rich in Vitamin shall vividly examine the meaning take care of the worm before essential to follow some safe food A, known for immune- of deworming, its importance, the · Diarrhea, nausea, or moving on to medication. During and general cleanliness practices: boosting properties which signs and symptoms to show that vomiting this period, the individual should · Do not defecate in the h e l p y o u r b o d y t o intestinal worms are present in report any symptoms they might · Gas/bloating open, always use a toilet fight against intestinal your body, treatments and be having. In other cases, worms. preventive measures. · Redness or rash on the gastroenterologists will use one or · Disinfect your toilet seat buttocks more antiparasitic medications to regularly · Turmeric is famous for its get rid of the intestinal worm. To start with, Deworming is the medicinal and antiseptic · D Fatigue · Cook meat properly process of expelling intestinal In addition to the medicine that properties for long. It helps to before eating worms or parasitic worms from · Urinating frequently kills the intestinal worm, you may eliminate parasitic worms from your body and also in the body by administering an need medicine to reduce · Always wash your hands · Weight loss healing internally. anthelmintic medicine/drug. In a inflammation or other symptoms, properly with water and like nausea, that you are having. more simplistic terms, it is a · Tiredness, weakness or soap before eating & · Coconuts are rich in lauric medicated process to kill worms. hunger due to worms. Everyone in your family should be after using the toilet acid, which forms into Parasitic worms can lead to treated, even if they don't have monolaurin, a compound · Abdominal pain or · Always trim your nails malnutrition. Deworming tablets symptoms. k n o w n f o r e n h a n c i n g tenderness and keep them short & allow people to absorb the critical immunity. A strong immune clean nutrients needed to be and stay · Dehydration system helps your body ward healthy. Parasitic worms and their · Always wear slippers or off or eradicate parasitic · Blood in the stool P r e v e n t i o n a n d H o m e larvae are generally found in shoes while using the worms from your body. contaminated food and water in Treatment Remedies 16 August 30-September 5, 2021 Akenzua wants founding fathers Jigawa @30: Badaru grants honoured as Edo turns 30 pardon to 79 inmates

states to annex parts of Edo State. Akenzua said with the view of finding a lasting solution and preventing other states from annexing the state, Erediauwa invited 11 traditional rulers and 35 prominent Edo sons and constituted them into steering committee with the Oba acting as the chairman while Odion Ugbesia acted as secretary. Akenzua said it is imperative for people to know those who fought tirelessly to achieving the present Edo State as the state celebrates its 30 years anniversary. He narrated the role played by Gabriel o v e r n o r M u h a He said the inmates were released Igbinedion, saying he singlehandedly mmad Badaru of from Dutse, Kazaure, Kiyawa, paid the sum of N50,000 for the Jigawa has granted Birninkudu, Gumel, Hadejia, launch of the Edo State Movement G which later led to the creation of Edo pardon to 79 inmates of the Jahuh, Gwaram, Garki, Babura State. Nigerian Cor rectional and Ringim correctional facilities, He said,”It is necessary to tell this S e r v i c e ( N C o S ) , i n while others were released from story in full because most Edo people commemoration of the 30th Kafinhausa reformatory home. and Nigerians do not know the genesis anniversary of the creation rince Edun Akenzua, the Benin while briefing newsmen “Responding on behalf of the of the formation of Edo State. of the state. Enogie of Obazuwa-Iko on the formation of the state 30 Controller-General of the NCS, Pand pioneer Editor-in- years ago. “Those in authority now, may wish to SC Mohammed Sani, the Mr Haliru Nababa, the State honour the founding fathers as the C h i e f, N i g e r i a O b s e r v e r Prince Akenzua said about 35 Public Relations Officer of Controller, Mr Mu'azu Garba, state celebrates 30th anniversary of Newspapers on Wednesday last years ago, Oba Erediauwa the NCos Command in the thanked the governor for the kind creation in August years ago. week urged the state government inaugurated the Edo State state, disclosed this in a gesture,” he said. “If that is to be so, it is hoped that Dr. to honour the people who fought movement following the statement in Dutse on last Sani quoted Nababa as saying that for the creation of the Edo State agitations for creation of states Joseph Wayas who was the Senate week Friday. 30 years ago. President at that time and who played t h e c o mm a n d w o u l d w o r k by ethnic nationalities in “Delivering the approval on tirelessly to ensure that inmates The Octogenarian said the then Nigeria and that in Bendel a significant role in the creation of the Oba of Benin, the Esama of Benin State, Aniocha, Anioma and state will also be recognised as a behalf of the Governor, the brought to the state facilities were Kingdom, Gabriel Igbinedion and Delta, each demanded for their founding father of the state.” At t o r n e y - G e n e r a l a n d treated humanly and were trained the then Senate President, Dr respective states. He also advised the youth not to allow Commissioner for Justice, in various skills and educational Joseph Wayas among many Akenzua said the demand for themselves to be used to destroy the Dr Musa Adamu, charged p r o g r a m m e s f o r t h e i r others were instrumental to various states didn't bother Oba country noting that the future belongs the released inmates to be of reformation, rehabilitation and a successful creation of the state. Erediauwa but their desires of to them while adding that peace is good conduct and law- possible reintegration into the He made the call in his palace in those clamouring for new needed to move the state forward. abiding citizens,” Sani said. society.

Lagos evacuates three-week-old baby, others from Plateau

agos Government says it scenes in Plateau State thanked has evacuated a three- Gov. Sanwo-Olu and his officials for Lweek-old baby, the mother rescuing them from what they and undergraduate students of the described as “war zone''. state's extraction studying at the Speaking on behalf of the students, University of Jos from Plateau. a 200-level student of the The evacuation became necessary Department of Religion and following recent attacks and Philosophy, Clinton Shotikare, killings in the state. thanked the governor for coming to The first set of evacuees, their rescue. comprising 64 UNIJOS students, “On behalf of other students, I am the three-week-old-baby, and its saying a big thank you to the mother, Manya Banfe, a 200-Level State Government, especially the student, arrived in Lagos on Friday governor of , Mr afternoon. Babajide Sanwo-Olu. Commissioner for Information and “We appreciate the governor and Strategy, Gbenga Omotoso, said t h e s t a t e g o v e r n m e n t f o r that the evacuation showed that evacuating us from Plateau State. government had the capacity to We feel happy, honoured, grateful safety and security of indigenes the crisis and during the rescue Secretary of Office of the Special respond to emergencies when they and safe. We feel the impact of and residents of the state. operation. Adviser to the Governor on affected people of the state. government,''' Shotikare said. Omotoso added that welfare He urged them to observe Education, Mr Kasali Adeniran, Omotoso represented Governor He said that they had been packages had been arranged for COVID-19 safety protocols and said that the evacuation was Babajide Sanwo-Olu at the experiencing tense situations and the students to return to their not to lose touch with their another landmark achievement of reception for the evacuees, sleepless nights since the beginning families safely, stressing that it studies as they returned to the state government. of the crises in Plateau. He said that the exercise was in line was noteworthy that none of the Lagos. The students who were so excited with government's commitment to Lagos State students died during Also speaking, the Permanent to have been evacuated from crises August 30-September 5, 2021 17 18

August 30-September 5, 2021 Ecobank: Top line and bottom line figures growth in HY'2021 boosts investors' confidence

he Half Year result of Ecobank reflects continued success of the Group's “Group revenues rose 7% to $825 towards our near-term target of 90%.” Transnational Incorporated 'momentum execution' strategy million, despite the challenging shows significant growth in the “We successfully raised $350 million Tier operating environment with the third T bank's top line and bottom line · Record cost-to-income ratio (CIR) of 2 Sustainability Notes in June, the first- figures. 58.7%, reflecting sustained progress at cost wave of coronavirus infections ever by a financial institution in sub- discipline and achieving mid-50s CIR in threatening economic recovery. Our Saharan Africa and first to have a Basel Gross Earnings of N442.247 billion was the medium-term. diversified pan-African business model achieved for the six months period, up by III-compliant 10-year non-call 5 · Cost-of-risk improved to 180 basis continued to rise to the challenge. structure outside South Africa in 12.94% from N391.59 billion achieved the Revenues grew 13% and 6% in our previous year. points 144A/RegS format. The Bond was 3.6 Commercial and Consumer businesses, · Year-on-year (YoY) customer deposits times oversubscribed, demonstrating The Group recorded a 33.04% rise in its profit while our focus on growing the trade increased N7.861 trillion, driven by a strong confidence in the Ecobank Group before tax. The operating income improved business led to increased trade assets. by 15.35% year-on-year from June 30, 2020. strong omni- channel strategy across and our commitment to the sustainability digital and physical channels. The slowly increasing business and of our communities and their social needs. The operating profit before impairment spend activity drove a 20% rise in our charges and taxation rose by 32.62 per cent to I am deeply grateful to all stakeholders · The NPL ratio reduced further to 7.4% Payments business's revenue to $90 N138.26bn. from 7.6% in the fourth Q4 2020 and 9.8% and must thank our clients for continuing million. Deposits growth was strong, to put their trust in Ecobank for their Profit after tax grew by 28.88% to N62.55 in Q2 2020 with total deposits now over $19 billion, diverse banking needs.” billion from N48.53 billion reported in Q2 · NPL coverage ratio of 86.7% improved an increase of $1.0 billion in the second 2020. from 74.5% in Q4 2020 and 65.3% in Q2 quarter and $2.4 billion in a year, Earnings per share (EPS) of the Group in Q2 2020 demonstrating efforts to build driven by our omnichannel strategy. 2021 increased by 28.88% to N3.41 from the reserves of NPLs to near 100% in the near Though loan growth remained flat, we EPS of N2.65 in Q2 2020 term. are focused on providing support to At the share price of N5.40, the P.E ratio of · Ecobank has a Book value of N43.77. MSMEs for growth.” Relative to its current share price of N5.40, Ecobank stands at 1.55x with earnings yield “I am proud of the team's hard work in of 64.32% Ecobank is grossly underpriced. A position in Ecobank has uptrend potential of driving efficiency, which continues to At the end of H1 2021, Ecobank's total assets 87.66% relative to its book value of N43.77. reflect in our cost-to-income ratio of increased to N11.02tn from N10.38tn in 58.7% ahead of guidance and December 2020. The loans and advances to Commenting, Ade Ayeyemi, Ecobank progressing well toward our medium- Group CEO, said: “We saw continued and its customers fell from N3.70tn in H1 2020 to term goal of approximately 55%. In sustained resilience in our performance, N3.63tn in H1 2021, while customer deposits addition, credit quality continued to be in all its operating locations increased by 7.38 which is indicative of the success of our 'execution momentum' drive. As a result, exceptionally strong. As a result, our per cent from N7.32tn to N7.86tn. the total NPL ratio of 7.4% is a substantial equity depreciated by 1.06 per cent as it we generated a return on tangible equity of improvement from the prior year's reduced from N811.75m to N803.18bn. 16.1% versus 15.2% a year ago and increased diluted EPS and tangible book 9.8%, as we also build reserves to value per share by 19% and 6%, insulate the balance sheet with an NPL · Return on assets (ROA) of 1.2% and respectively. In addition, profit before tax coverage ratio of 86.7% and pushing return on tangible equity (ROTE) of 16.1% increased 23% to $210 million.” 19 August 30-September 5, 2021 Caverton grows HY 2021 PAT by 1.83% to N0.78bn

averton Offshore Support economic conditions, to ensure oil and gas fields with broader plans to Group Plc is a leading provider continued business survival and support energy operations along the West of marine, aviation and profitability. To boost revenue, the African shelf as well as other ancillary C logistics services to local and marine service sector of the Group, has support services. international oil and gas also been restrategizing to position the companies in Nigeria. company towards exploring further Caverton has a young and growing fleet of opportunities within and outside the oil vessels and aircrafts operating out of nine The Half Year report for the period ended and gas sector”. locations. The company has an 30 June 2021 shows year on year growth in impressive oil and gas client base which the company's top line and bottom line He further stated that “our Maintenance include Shell, Total, ExxonMobil, NNPC figures. Repair and Overhaul (MRO) facility and and Chevron among others. our Simulator Training facility, both in A turnover of N18.069 billion was reported Lagos, have officially commenced for the six months period, up by 12.38% business operations in the 2nd half of from N16.079 billion reported the previous 2021. This heralds a new age in the year. Profitability Ratios Nigerian aviation sector and better Profit after tax grew by 1.83% year on year fortune for the Group. As expected with · Gross Margin is 35.25% (34.95% in 2020) to N780 million from N766 million new projects, the income stream from reported in HY 2020. Earnings per share these two new projects will gradually · EBITDA Margin is 21% (23% in 2020) for the six months period was 23 kobo, grow over the years ahead” same as what was reported the previous · Net Profit Margin is 4.32% (4.76% in 2020) year. At the share price of N1.78, the P.E ratio of Caverton stands at 7.65x with Caverton is one of Nigeria's leading oil · EBIT/Interest Expense is 1.58 %, (2.03 % in 2020) earnings yield of 13.08%. services companies providing solutions for a range of multinational companies The result came even in the face of the across aviation and marine services. serious negative impact that the Covid-19 Caverton Marine, one of the fastest pandemic continues to have on business Capital Structure ratios growing indigenous shipping companies operations in Nigeria and the rest of the commenced operations in 1999 while world, which has caused significant · Net debt/Equity is 1x (1.04x in 2020) Caverton Helicopters a helicopter reduction in activities by International and charter, sales and Maintenance Local Oil and Gas companies who are the · Net debt/EBITDA is 5.85x (6.12x in 2020) Company was established in 2002. Both major clients of Caverton. companies were consolidated to form · Long-Term Debt/Total capitalization is 0.59x (0.42x in 2020) Commenting on the results, Caverton's Caverton Offshore Support Group on 2 Chief Executive Officer, Mr. Bode ndJune 2008. The group's focus and · Asset turnover is 0.23x (0.24x in 2020) Makanjuola, said that “the result shows our primary business is to provide logistics continued determination to re-focus our and environmental support services to · EBIT/Capital Employed is 12 (15 in 2020) operations in the face of the challenging August 30-September 5, 2021 Ebenezer Onyeagwu: Seasoned financial expert with decades of experience

b r a n c h d e v e l o p m e n t , programme. At the Harvard management of risk assets Business School, he acquired portfolios, treasury functions, capabilities in negotiations and strategic top level corporate, critical decision-making. multinationals and public In the last six years, Mr. Onyeagwu institutional relationships, has been on the board of Zenith among others. Bank Ghana, Zenith Pensions He was appointed Executive Custodian Limited, Zenith Director of the bank in 2013, and Nominees Limited and African put in charge of Lagos and Finance Corporation (AFC). In South-South Zones as well as AFC, he serves on the Board Risk & strategic groups/business units of Investment Committee (BRIC), the bank, including Financial and Board Audit & Compliance Control & Strategic Planning, Committee (BAAC). At Zenith Treasury and Correspondent Bank Ghana, he chairs the Board Groups, Human Resources C r e d i t a n d G o v e r n a n c e Group, Oil and Gas Group, and Committees. Credit Risk Management Group, He is very well noted for his etc. tenacity, entrepreneurial spirit, Mr. Onyeagwu was named high sense of innovation and Deputy Managing Director of creativity and very inspirational Zenith Bank in 2016. In that leadership skills. Within the capacity, he deputized for the market, he is highly respected for Group Managing Director and his consistent and impeccable Chief Executive Officer of the character, brilliance, deep bank. He also had direct knowledge and insight of the oversight of the bank's Financial market, as well as for his strong Control and Strategic Planning, professional and ethical principles, Risk Management, Retail which have continued to endear Banking, Institutional and him to all stakeholders. Corporate banking business benezer Onyeagwu is a vastly the banking industry in Nigeria, out portfolios, IT Group, Credit Zenith Bank Plc was established in e x p e r i e n c e d C h a r t e r e d of which he spent 17 in Zenith Bank Administration, Treasury and May 1990, and commenced Accountant, a knowledgeable Plc. E Foreign Exchange Trading. operations in July of the same year and astute financial expert, trained in Before joining Zenith Bank Plc, he Mr. Onyeagwu is an alumnus of as a commercial bank. The Bank reputable institutions of learning in worked at Citizens International the prestigious University of became a public limited company Nigeria, the United Kingdom and the Bank Limited between 1991 and Oxford, England, from where he on June 17, 2004 and was listed on United States of America. He is the 2002. He was one of the most obtained a Postgraduate Diploma the Nigerian Group Managing Director of Zenith outstanding branch managers in the in Financial Strategy, and a (NSE) on October 21, 2004. Bank Plc. bank, winning multiple awards and certificate in Macroeconomics. Zenith Bank is verifiably a leader in Mr. Onyeagwu is a graduate in recognitions for his brilliant, He also undertook extensive the deployment of various channels accounting from Auchi Polytechnic, excellent and highly professional executive level education in of banking technology and has widely recognized as an institution performance on the job. Wharton Business School of the become synonymous with the that has produced some of Nigeria's He joined Zenith Bank Plc in 2002 University of Pennsylvania, deployment of state-of-the-art m o s t r e n o w n e d C h a r t e r e d as a Senior Manager, in the Internal Columbia Business School of technologies in banking. Driven by Accountants. He obtained the Higher Control and Audit Group of the Columbia University, the a culture of excellence and strict National Diploma in Accounting from bank. His professionalism, Harvard Business School of adherence to global best practices, that institution in 1987. c o m p e t e n c e , i n t e g r i t y a n d Harvard University, in the the Bank has combined vision, He qualified as a Chartered commitment to the objectives of the United States. skillful banking expertise, and Accountant (ACA) of the Institute of bank saw him rise swiftly between At Wharton Business School, Mr. cutting-edge technology to create Chartered Accountants of Nigeria 2003 and 2005, first, as Assistant Onyeagwu undertook the CEO products and services that (ICAN) in 1989, almost immediately General Manager, then Deputy academy and leadership training anticipate and meet customers' after graduation. He subsequently General Manager, and eventually, programmes. His strategic skills expectations; enable businesses to became a Fellow (FCA) of the Institute General Manager of the bank. In were further nurtured and thrive and grow wealth for of Chartered Accountants of Nigeria these capacities, he handled honed at Columbia Business customers. (ICAN), in 2003. strategies for new business and S c h o o l s t r a t e g y t r a i n i n g He has over 29 years of experience in