Sunday, 23 June 2013

Path to success of firms, others, by bank chief

NO organisation in the world can be profitable if its customers do not believe and support its vision, African Banker of the Year and Chief Executive Officer of Guaranty Trust Bank Plc, Mr. Segun Agbaje, has said. According to him, “there is a direct relationship between a company’s level of profitability and public perception about its brand. When people see a brand as a valued partner, they continue to do business with it, which ultimately translates to profitability. Companies on the other hand have a responsibility to ensure their customers are satisfied at all times and treated with respect. This knowledge is the base rock upon which our 2012 performance is hinged.” Agbaje, who spoke just days after the bank published its audited 2012 results, attributed its successful outing during the financial year to customer loyalty. GTBank’s results for the 2012 financial year showed a Profit Before Tax of N103 billion, the highest for any Nigerian bank from continuing operations at both bank and Group levels. The Group’s results also show improved Gross Earnings of N221.9 billion and 69 per cent improvement in Profit After Tax to N87.3 billion; (2011: N51.7 billion). The bank closed the 2012 financial year with an On-Balance Sheet size of N1.73 trillion (2011: N1.608 trillion) while total assets and contingents stood at N2.26 trillion (2011: N2.14 trillion) representing a growth of 8 per cent and 6 per cent respectively. Additionally, the bank’s stance as an upstanding social citizen and commitment to full disclosure was evidenced by its 2012 tax liabilities, which came to over N16.3 billion, while total dividend payment for the financial year is projected at N45.62 billion (N1.55 per ordinary share of 0.50 kobo each). Agbaje confirmed that the bank would continue to introduce products and alternative channels that will allow the public to undertake their banking activities quickly, safely and conveniently. It was established in 1990 and has over 200 branches within the country and has banking subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom. In recognition of it service standards, management quality and financial performance, it has been the recipient of numerous awards over the years that most recently include the Best Bank in Nigeria Award for the fourth consecutive year from Euromoney Magazine and the Best Bank in Nigeria Award from EMEA Finance.

By Adeniyi Adunola

Group canvasses ways to reduce conflict

L-R Mrs Roseline Umenduka presenting an award to Hon Metche Nnaduke (middle) as Dr Charles Obi (JP) supports them
NON-GOVERNMENTAL ORGANIZATION, Conflict Control and Resolution (CCR) said lack of understanding and conflict control and resolution are behind major crises bedeviling different segments of the society.

Speaking at a seminar entitled “Peace and Security In our nation-The way forward” held at Ojo military Cantonment Lagos at the weekend, the President of the organization Mrs. Rose Umenduka canvassed for a greater effort at mutual understanding, and greater use of techniques of collaboration, competing, avoiding, harmonizing and compromising to effectively deal with conflict and ensure peace and security in the society.

She lamented the many crisis points in the nation, among them Boko Haram insurgency, violent communal disputes in Cross River and Ebonyi states, Anambra and Kogi states as well as within families even as she urged all hands to be on deck to check the trend. She said since “conflict is inevitable wherever there is human interaction, it therefore, becomes necessary for everyone to embrace a measure that would reduce or manage conflict so that the negative and divisive consequences do not get out of hand.”

She told newly-commissioned CCR officers to be ambassadors of peace and work to reduce conflict in the society Also speaking, the Secretary of CCR, Major John Audu urged the Federal Government to enter into dialogue and negotiations with aggrieved groups in the country with view to ending conflict and restore peace and harmony. He also urged all Nigerians to support security agencies with intelligence gathering and useful information, which could help nip conflict in the bud before it degenerates into crisis.

By Adeniyi Adunola and Aderonke Alabi

Anyaoku Fears

FORMER Secretary General of the Commonwealth Chief Emeka
has expressed the fear that issues being thrown up by the Boko Haram insurgency in some parts of the country may adversely affect Nigeria’s relationship with other nations of the world with whom she had enjoyed cordiality. Anyaoku who was special guest of honour at Island Club’s Diplomats Night on Tuesday lamented that security challenges like the terrorism in some parts of the north, and the kidnapping of locals and foreign nationals have become the painful point of contact with and communication about Nigeria and the outside world which does the country’s image no good. Expressing delight that such unsavoury developments have not managed to stop the inflow of foreign investments into the country, Anyaoku wondered how much longer the insecurity challenges could remain unsolved before they begin to hurt efforts the country has been making to attract foreign investors which to a large extent depends on Nigeria’s image abroad now being put at risk by terrorism and kidnappings. Calling for an end to the penchant Nigerians have to be in denial of the country’s basic problems, Anyaoku said the issue of political stability remains to be dealt with. He expressed doubts that said the structure of government in Nigeria as it is at present can guarantee stability and peace.
He said this could only be achieved if Nigeria practiced true federalism, stressing that a situation whereby the 36 states of the federation with the possible exception of Lagos State are economically dependent on the centre cannot make for peace and stability. “I believe, that the present structure fans the religious and the ethnic diversity we have because the competition to grab the power at the centre is destructive. “I believe that the nation should return to six federating units so that we can recapture the development and stability which we had in the immediate years after the nation’s independence when we had a federation in which the regions were sufficiently viable and sufficiently powerful to develop at their own pace.” He spoke of how prosperous the regions were, with the north thriving on hides and skins and groundnuts , the west on cocoa, the east on palm produce and the Mid west region on rubber , lamenting that all that had disappeared as Nigeria is now overwhelmingly dependent on oil. He said the return to six regions will save Nigeria the trouble of trying to invest so much resources in administration . “At the moment, the country spends over seventy per cent of its resources on administration because there are 36 States of Assemblies , 36 Judiciaries, 36 Civil Services and so on and all these are expensive and no country has developed which has spent seventy percent of its revenue on recurrent expenditure.

By Adeniyi Adunola and Tolulope Okunlola

TREM honours members at community development award

THE Redeemed Evangelical Mission (TREM) recently honoured its notable members who have contributed to the development of Ikorodu community. Speaking at the event tagged: Ikorodu Community Development Award (ICDA), which was held at TREM Liberty Centre, Idowu Fatoki Street, Ikorodu, the Director of the Directorate of National Transformation, TREM Liberty Centre and Chairman of the Award Planning Committee, Mr. Austen Awulonu, said: “ICDA, basically, is a medium to celebrate individuals and organizations, who through significant positive service, have contributed to the development of Ikorodu.” "Our concern is neither political nor religious or ethnic. It is purely developmental because we believe that a community that ceases to develop will sooner than later become extinct," he lamented. He urged the awardees to keep the flag flying and pleaded with them to do more. While unveiling the nominees, the Resident Pastor of TREM Liberty Centre, Pastor Mike Egwu, said: “The ICDA aims at the development of Ikorodu community.” Egwu urged the Christians and all that were present, to be a change agents and follow the example of Jesus Christ, saying "we must demonstrate Christ-like love to the whole world.” Meanwhile, the award was categorized into nine different categories, ranging from special recognition award, which was won by Rev. Felix Joshua. Also under category of Arts, veteran actress, Mrs. Sola Onayiga, Funke Akindele and Chidinma Ekile were nominated. Other categories included public service, commercial service, journalism, community banking, social responsibility and youth empowerment awards.

By Adeniyi Adunola

NISCN TASKS WORKERS ON WORKPLACE DISEASES.

Workers in both public and private sector in the country were on Monday advised to be careful and do everything possible to prevent attracting diseases that are associated with their respective nature of jobs. The National Industrial Safety Council of Nigeria (NISCN) gave this advice on Monday at a seminar to mark the 2013 edition of World Day for Safety and Health at Work, held at Lagos State University Teaching Hospital (LASUTH), Lagos. The theme was “Prevention of occupational diseases”. Speaking at the seminar, the Chairman of NISCN, Mr. Tunji Sekoni said the organization strongly believe that prevention of occupational diseases is best done when a system that is consistent in committing both employer and employee to health and safety in the workplace is created. Sekoni added that social dialogue is another system that compliments the Employee Compensation Act by placing the responsibilities of inspection on the workers and employers themselves in cordial and harmonious manner. According to him, Nigeria is getting it right with Employee Compensation Act which is said to be a no-fault-scheme and has the potency of forcing employers to be more efficient in managing safety in the workplace. Lecturing on the Employee Compensation Act (ECA), the director of National Social Insurance Trust Fund, Mr. Davidson Enwere said the main feature of the law is to minimize financial losses, reduce personal, physical and emotional suffering likewise encourage and promote safety in the workplace. He said an employee is covered on death, injuries, mental stress, occupational diseases and healthcare in as much as these happen to him on the way to and from workplace and in the field of duty. And that such employee could only claim compensation if he notifies the employer of the related injury or illness within 14 days. Also speaking, the Assistant Director, Federal Ministry of International Labour Organization, Mr. Shado Olawale who delivered a lecture on the “Place of social dialogue in safety system – the way forward”, said social dialogue is the type of negotiation that helps to boost and promote economic progress. He said information sharing as well as consultation and bargaining are the most effective means of exchanging views in social dialogue. Olawale also said judicious, skillful and enlightened use of social dialogue, information sharing and consultation among social partners on issue of safety must elient strong political will and commitment on the part of all stakeholders.

Adeniyi Adunola and Adebisi Olonade