82 Yauri Students Spend Day 52 with Bandits in Forest Anguished parents lament kids’ continuing stay in jungle Ismail Adebayo,Birnin Kebbi June 17 are spending their neighbouring Rijau forest freedom, leaving 82 in Their anxiety was and were training the males 52nd day today with the in Niger State, and abducted captivity. heightened by unconfi rmed for banditry. Eighty two of the 94 students kidnappers in the forest. the students and staff of the Parents of the students still reports quoting the leader of The parents, on hearing this, abducted by bandits at the The heavily armed bandits, school unhindered. with the bandits remain in the bandits, saying they had gathered at Yauri, and after Federal Government College, who came on motorcycles, Some students and staff, anguish over the fate of their married the females among the Birnin Yauri, Kebbi State on entered Yauri from the 12 in all, have since gained children. students out to their members Continued on page 5 Wema Bank Mulls Merger or Acquisition, to Raise N40bn Through Rights Issue… Page 5 Saturday 7 August, 2021 Vol 26. No 9616 www.thisdaylive.com T N250 R U N T H & R E ASO Army Chief: We’re Set to Take Battle to Terrorists’ Enclaves Says operations now re in vig o rated, optimistic about positive results soon Francis Sardauna in Katsina take the war to the enclaves Yahaya, disclosed this shortly Nigerian Army would carry pave the way for peace and said with determination and of insurgents, bandits and after addressing troops at the out its operational battles to development to thrive. the right efforts by all and The Nigerian Army yesterday other criminals terrorising Fort Muhammadu Buhari the enemies’ enclaves both in While admitting that there sundry, “the Nigeria security said it had re in vig o rated its the country. Forward Operating Base, the North-west and North-east were challenges affl icting the challenges are surmountable.” operations and strengthened The Chief of Army Staff Daura, Katsina State. where most of their operations war against insecurity in them to enable the troops (COAS), Lieutenant-Gen Faruk He reiterated that the were being conducted to the country, the Army chief Continued on page 5 IBB on Corruption: With the Fact on Ground Now, My Govt a Saint Wants next President to be versed in economics, able to talk to the people Says military overstrained in war against terrorists Ahamefula Ogbu and be in his 60s in terms of age. Former military President, Answering directly on the Ibrahim Badamasi Babangida allegation that he popularised has described his regime as corruption, Babangida, who a saint, when compared was head of state between 1985 to the level of corruption and 1993, said: “Well, you can’t being witnessed today in the compare it with the fact on country under a democratic the ground now. From what government, and further I read, from analysis, I think denied the notion that he we are saints when compared popularised corruption in to what is happening under Nigeria. a democratic dispensation. Babangida, who spoke in an “I sacked a governor for exclusive interview on Arise misappropriating less than News Channel yesterday N313, 000; today billions from his Minna Hilltop are there in the streets. Those Mansion, also wants the next who have stolen billions are in Nigerian president to be an courts, and are now parading acceptable person who has themselves on the streets. contacts across the country, So, who is better in fi ghting and given the peculiarities in corruption?” our economy, should be well versed in economic matters, Continued on page 5 Remanded Aminu Yar’Adua Not Late Ex-President’s Son... Page 6 2 SATURDAY AUGUST 7, 2021 • THISDAY SATURDAY AUGUST 7, 2021 • THISDAY 3 4 SATURDAY AUGUST 7, 2021 • THISDAY THISDAY, THE SATURDAY NEWSPAPER ˾˜Ϳ˜ͺ͸ͺ͹ 5 PAGE FIVE Wema Bank Mulls Acquisition or Merger, to Raise N40bn Through Rights Issue Dike Onwuamaeze in terms of inorganic growth expected to hit the market manage the number of shares almost 90 per cent. Between Mabawonku said: “When could be with another financial in September, this month in issue, and that will impact 2019 and 2020 we grew our the CRR dropped below 15 The management of Wema player in the Nigerian bank of August is for us to have on our ratios. It makes sense deposit by almost 50 per per cent the board approved Bank yesterday hinted that “it or it could potentially be with a court-ordered meeting to to have more efficient shares cent. We will use revenue to immediate implementation of is considering” the acquisition a fintech or it could be the get shareholders together and in issue before doing the rights cover the increase caused by the bank’s capital management of a fintech firm or a merger acquisition of the smaller agree on the scheme of the issuance,” Oseni said. regulatory cost. Also, costs plan to bring shareholders with another commercial bank, fintech. But as time goes on, arrangement,” he said. He also said that regulatory were driven by inflation, forex capital from existing N60 as part of its growth plans. we will engage the market He said the bank would cost was among the issues and energy costs. billion plus to above N100 Speaking in Lagos during on that. embark on a road show that keep the bank awake “We believe we have billion mark.” the company’s half-year 2021 “We are looking at all from next week to sensitise at night and explained that started well and will end He also shared insight investors/analysts presentation possible options, whether shareholder groups and Wema Bank “is capable of this year very well. Although into the bank’s performance. (virtually), the bank’s Deputy you like it or not, no matter associations on growth plans. containing” the regulatory the external environment is According to him, the bank’s Managing Director, Moruf how efficient you are. In this Oseni explained that risk: “Are we able to navigate very tough we believe the profit before tax improved Oseni, said a merger and game, we are playing skill to the bank would reduce around it? The answer is yes. opportunities are numerous from N1.7 billion in half year acquisition (M&A) was part skill, and we also have huge its shares in issue before The whole thing (regulatory and will continue to focus 2020 to N4.3 billion in 2021 of its plan to ensure organic aspirations to scale up in the embarking on the rights issue risk) is to make sure that on growing our businesses half year, while its total assets growth. shortest possible time.” to ensure enhanced growth the Nigerian economy is across retail and corporate crossed the N1 trillion mark Oseni said the acquisition Oseni also announced Wema for shareholders. bootstrapped and that there is segments as we continue to and “the margins are better “is not limited to the financial Bank’s plan to sell shares to “Wema Bank today has a growth in the economy. Our execute our three year strategy than this time last year.” sector space.” existing shareholders to raise large number of shares in job is to navigate them as they to capture all the values in it The chief finance officer Oseni said: One of our additional capital of N40 issuance, but before we float are part of the business.” and will continue to play on also said that the bank had pillars is inorganic growth. It billion by September. the right issue, we need to The bank said its operating our digital domain.” grown its deposit base to N808 is either you merge or acquire. He said the capital raise get the shareholders to reduce cost moved from N17.6 billion The Chief Finance Officer billion with hope of reaching It is not limited to acquiring would give the bank an the shares in issue and on the to N20.8 billion largely due to of Wema Bank, Mr. Tunde N1 trillion deposit mark from the Nigerian financial expanded base of business back of that we then issue regulatory costs like AMCON Mabawonku, said during the He said: “Growth is less than space or with a fintech. We over the coming years to those rights. levy and NDIC premium. virtual event, that the bank N500 billion in the first half are looking at all possible compete favourably in the “This will not change the Oseni said: “The AMCON had started a process that of the year. But the interesting options this time around industry. shareholding structure of the levy grew around 50 per cent would hopefully grow its thing is that retail deposit has “A merger and acquisition “The rights issuance is shareholders. We just want to and the NDIC premium by capital base to N100 billion. grown by 10 per cent.” ARMY CHIEF: WE’RE SET TO TAKE BATTLE TO TERRORISTS’ ENCLAVES He said: "The essence of with other services and other collaboration between civil- explained that traditional Nigerian Army in synergy to the activities of informants my visit is to reinvigorate our security agencies and indeed military and paramilitary and religious institutions with other security agencies. whom he termed dangerous operations and strengthen other stakeholders. We are all organisations to checkmate had vital roles to play in He said: "We need more elements fueling banditry and them to ensure that the troops partners and together with the activities of the hoodlums the fight against insecurity cooperation and synergy kidnapping in the state. take the fight to the enclaves this synergy we will achieve within their respective areas in the country.