Saraki Withdraws Suit To Stop CCT Trial

                         
Embattled Senate President, Bukola Saraki, has withdrawn his application filed before an Appeal Court seeking to halt his trial at the Code of Conduct Tribunal, CCT, for alleged false declaration of assets.
Saraki’s lead counsel, Kanu Agabi, disclosed on Monday that his client now wants an accelerated hearing on the ongoing trial.
He said, “When your lordship has read such a voluminous motion, it is unfair to say we are withdrawing. But we have to. We want to withdraw the motion.
“In the motion, dated April 4, we prayed your lordship to stay proceedings at the CCT pending the hearing of our appeal. But we now want to urge your lordship to grant accelerated hearing to our appeal.
“My Lord, we appeal to you to grant us accelerated hearing.”
Counsel to the Federal Government, Rotimi Jacobs, did not oppose the withdrawal of the application.
He said, “I have no objection to the withdrawal.”
After listening to both counsels, the three-man panel of judges led by Justice Abdul Aboki struck out the application.

Sterling Bank Dares To Break To Norm, Flags Off Made In Nigeria Week

                     
In furtherance of its continued commitment to growing the Nigerian economy and in line with the growing emphasis of the Federal Government to diversify the economy, Sterling Bank has concluded plans to champion the use of locally manufactured goods and services by initiating what it has described as the “Made in Nigeria” week from Monday, April 24 – 29, 2016. The Bank’s Executive Director, Finance & Strategy, Mr. Abubakar Suleiman said: “The week is an opportunity for us to promote a sense of pride and confidence in Nigerian grown brands starting with our people. entire week, we intend to showcase and celebrate everything Nigerian as a brand that supports our indigenously manufactured products”. Other initiatives already undertaken by the Bank to promote local entrepreneurs include its partnership with Innoson Motors Limited, the first indigenous manufacturer of vehicles, to finance the purchase of locally made vehicles produced by the company; the financing and even business patronage of Labana Rice mills, an indigenous rice mill amongst others. The campaign also serves as an avenue to create employment especially for the Nigerian entrepreneurs involved in the production of these goods. The patronage of local manufacturers of local attires for instance, is expected to also boost the local economy especially those in the fashion and shoe making industry, adding that the initiative was one of the numerous initiatives the Bank was undertaking to enrich the lives of Nigerians. Mr. Suleiman said “This campaign comes at a critical time in the country, a time when there is an increasing call to look inwards especially in the face of the current foreign exchange pressures; pressures that have resulted from the country’s overdependence on oil exports for foreign exchange and global oil sector downturn driven by the falling oil prices which in turn has dampened economic growth and negatively impacted other sectors with prices of imported products and inputs rising significantly. “For the country to get out of this situation, there is an urgent need to diversify the economy and empower the manufacturing sector in the country. But the manufacturing sector will not strive if they are not patronized by Nigerians. This is why we want to start with our staff by setting aside a week when we will wear only fabrics and other locally made products to the office.” He said.

 

UBA INAUGURATES GROUP BOARD FORUM

                         

Following a 3-day Forum which was held in Lagos, Nigeria between April 6 & 8,  2016, United Bank for Africa (UBA) Plc Chairman Mr. Tony Elumelu formally inaugurated a Group Board Meeting as a platform for group integration, bonding and knowledge sharing. 

 

90 participants comprising of the entire Board of United Bank for Africa PLC(UBA), Chairmen and CEOs of UBA subsidiaries in Africa and the United Kingdom, Group Strategic Business and Support Heads, amongst other special invitees and guest facilitators, were in attendance.

 

The Group Forum serves as an interactive platform for knowledge sharing on issues ranging from Corporate Governance, Institutional History, Board Effectiveness, Brand Projection, Empowerment and Accountability amongst others.

 

Speaking during the Forum, Elumelu said, “As long term investors and Africa enthusiasts, we are committed to the markets in which we operate and to the wider African economy.  We will continue to work with credible partners and governments across Africa to identify and develop those critical growth poles required for the sustainable development of all African economies”.

 

The maiden forum coincided with the 54th Annual General Meeting (AGM) of UBA which held on April 8, 2016. Participants were also able to celebrate the Bank’s stellar financial performance and the staff who made this possible at the annual UBA CEO Awards ceremony, which was held the next day. 

The Group Board Forum resolved to reposition UBA as the leading pan-African Bank across all key indices – brand equity, human capital, customer service and profitability whilst also inculcating a culture of responsiveness in UBA. Other top of the agenda items included Know Your Customer (KYC) and Anti-Money Laundry (AML) policies and compliance standards across the Group. There was a general agreement among participants that there will be zero tolerance for any regulatory infraction across all operations.

 

UBA reported credible financial results in 2015 in what all recognize was a challenging macro environment. Gross earnings were N315bn whilst operating profits stood at N69bn. UBA Africa operations currently contribute about 25% of these earnings but are poised to contribute much more and should over time account for as much as 50% of overall Group profitability.

 

For this to happen “we must inculcate a culture that enforces individual accountability, a high sense of urgency and a customer first orientation in getting things done. Responsiveness and accountability are key attributes of High Performing Organizations” Elumelu said.

 

 

Efficiency Gains Drive UBA’s First Quarter Profits To N18 Billion

                      
Lagos; Pan Africa financial services group, United Bank for Africa Plc has announced its unaudited results for the first quarter of 2016 showing gross earnings of N74 billion and profit before tax of N18 billion for the three months ended March 2016.

 

The Group sustained its strong profitability, recording an annualized 20% return on average equity (RoAE).

 

“I am pleased to report yet another impressive performance for the period. In addition to achieving better pricing on our assets and liabilities, we leveraged enhanced service channels in growing transaction banking volumes and fee income” said Phillips Oduoza, the GMD/CEO of UBA Plc, while commenting on the results.

 

 He explained that the bank recorded an impressive 12% year-on-year growth in net interest income and sustained net operating income at N50 billion for the first three months of the year.

 

“I am particularly pleased with the increased contribution of the African subsidiaries, which represented 28% of our Group’s top- and bottom- lines in the first quarter of the year”

 

 He admitted that the first quarter has been challenging, with a host of macroeconomic pressures ranging from inflationary threats to fuel shortages; all of which impacted the business environment.

 

However, he said UBA remained committed to creating value for its esteemed customers; a strategy which will sustain its strong profitability through the year. More so, the Group remained focused on sustaining the quality of the bank’s balance sheet, Mr. Phillips added.  

 

“We grew the loan book by a modest N13 billion or USD65 million in the quarter and maintained our decent asset quality metrics , 1.7%  non-performing loans (NPL) ratio and 0.4% cost of risk” Oduoza said. 

 

He expressed hope that the implementation of the 2016 budget in Nigeria, the bank’s single largest market, will lead to improved economic activities and business opportunities and he assured that UBA is committed to creating superior and sustainable value for all shareholders by leveraging on its unique Pan-African platform in gaining a fair share of its target markets.

 

Ugo Nwaghodoh the Group CFO, in his explanation of the bank’s strong performance attributed it to efficiency gains from operations and sales.

 

“We effectively balanced our growth appetite with profitability, thus creating value.  Year-to-date, we achieved a 40bps improvement in net interest margin (NIM), as we recorded a notable 50bps moderation in funding cost to 3.5%. It is my pleasure to report that low cost, savings and current accounts now represent 80% of our deposit funding” Nwaghodoh explained.

 

He also said that despite a rise in headline inflation to 12.8% in Nigeria, UBA’s focus on cost efficiency initiatives resulted in a 1.2% year-on-year decline in operating expenses.

 

“This performance reinforces our ability to sustainably create superior return for our shareholders over the medium to long term”

 

 United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than eight million customers across 615 business offices in 19 African countries. With presence in New York, London and Paris, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services//end.

 

Kenny Kore, Chris Morgan leads Ondo State for Youth Praise Night

                    
The 85th Edition of Divine Agenda Praise Night saw in gathering of youths, little will one wonder how the young ones trooped in from far and near the Millennium city  of Akure cause it was the Youth Edition ‎the memories of this event will linger on in the minds of true worshippers.


The programme, which has been seamlessly uninterrupted since inception of Mimiko’s administration and tagged Divine Agenda, had this month’s edition for Youths.

The Youth Gospel Festival (Yougofest Reloaded) got attendees thrilled in worshipping God from 10pm to 4am on Friday at the International Event Centre with Music from Guest ministers like Kenny Kore, Chris Morgan, De Smoothstones, Ondo State Youth Choir with various worship sessions alongside comdey from MC JINGLE and Dr. Frick.

Earlier Ondo State Governor Dr. Olusegun Mimiko took the only Bible Reading of the Night from 1 Sam. 17: 32 - 47 while Dr. Okereke Chukwuma Eze who took the word exhorted the worshippers from Heb. 11 v 23 - 29 encourged the youths on why they need to strengthened their faith and endure to be chirst like in anything they commit themselves in rather than the treaure of the world and it's reward.


Adding pep to the night not to be forgotten was the Chris Morgan who led the youth to worship God on behalf of Dr Olusegun and Mrs Kemi Mimiko and the entire people of Ondo State.

On hand to spice up the gathering was Kenny Kore who took turn in his choice of praise-laden hits that threw the hall into total dancing hall as both Mr. Governor and his wife took time to dance ‎while his instrumentalist praise God.
In her words 'Mr. Governor's hope is rekindled in the Nigerian Dream, Go is still on us in Nigeria and it's not over until Nigeria rises to her full potentials seeing the whole world draw from us'

Furthermore, All what we saw tonight is showing forth the whole excellence of God. I want to advice the youth to stay plugged to the holy Spirit, the Spirit will give gifts to seperate you for God in the world just as David and Moses did in the Bible. Stay Plugged, Stay focused and Make it better she said.

Mimiko who shared various testimonies of safety over the state, her family thanked the organisers of the event and asked God for more grace.

In attendance at the epoch-making event were the executive members of Mimiko’s cabinet, State Assembly Members, church leaders, CAN leaders were present to join the youths worship God.  ‎
‎The praise night did not come to a conclusion until about 4.45am when the host, Governor Mimiko who was accompanied by his wife came out for testimonies to appreciate God and the people of Ondo State for turning the fortunes of the state around for good.

Speaking to the youths Dr. Olusegun Mimiko who spurred ‎up the atmosphere through his Wife as mouthpiece said the Governor always see great delight with youths gathering and gave glory to God for using them to bring out the reflection and his presence.

In her words 'Mr. Governor's hope is rekindled in the Nigerian Dream, Go is still on us in Nigeria and it's not over until Nigeria rises to her full potentials seeing the whole world draw from us'

Furthermore, All what we saw tonight is showing forth the whole excellence of God. I want to advice the youth to stay plugged to the holy Spirit, the Spirit will give gifts to seperate you for God in the world just as David and Moses did in the Bible. Stay Plugged, Stay focused and Make it better she said.

Mimiko who shared various testimonies of safety

UBA Rewards Staff At Annual CEO awards

                         

It was an exciting evening on Saturday, April 9, 2016 as staff of pan-African financial services group, United Bank for Africa (UBA) Plc gathered at the Eko Hotel and Suites in Lagos, Nigeria, to celebrate the bank’s staff that have performed exceptionally well in the 2015 financial year.

 

It is a tradition that the bank has maintained since 2008 and this was the eighth edition since its inception. As usual, it lived up to its reputation as a night of glamour and glitz as bankers let down their conservative mien and turned up in a “party” mood to celebrate their colleagues that have excelled in the just concluded financial year.

 

The theme of the night was “The Evolution of UBA”   and was aimed at celebrating UBA’s rich history as one of the biggest and dominant banks through the ages from its inception in 1949.

 

Using dance drama headlined by top Nollywood stars like Segun Arinze, Norbert Young, Ireti Doyle, and Gideon Okeke, they highlighted  the men and women, who have made UBA what it is today, Its landmark heritage building on 57 Marina, contributions across Africa and its foot print across Africa in 19 countries; Nigeria, Ghana, Benin Republic, Cote d’Ivoire, Burkina Faso, Guinea, Chad, Cameroon, Kenya, Gabon, Tanzania, Zambia, Uganda, Liberia, Sierra-Leone, Mozambique, Senegal, Congo DR and Congo Brazzaville as well as in the key global financial centres of New York, London and Paris.

 

The multicultural diversity of the UBA group was on full display as board chairmen and the managing directors of the UBA subsidiaries in all its 18 countries of operations outside Nigeria were also present at the event.

 

There were 16 different categories of awards given out to staff, business offices, country subsidiaries and strategic business units on the night. Specific areas covered by the awards include; profitability, deposit growth in Nigeria and Africa, most improved country or regional bank in mobilization, digital banking adoption, customer service, compliance rating and support services.

 

But the highlight of the awards was the “GMD’s Special Award” for a staff that has performed exceptionally in his or her assigned duties in 2015.  This is an award won by the best of the best in the UBA Group and the staff must have displayed a positive attitude to work and colleagues, maturity in handling the bank’s internal and external customers, commitment, knowledge of the bank’s operations and offerings, integrity, which is a core value of the bank and a high level of productivity.

 

The night also experienced high level performance from Nigeria’s top musical stars. Staff took to the dance floor as they experienced back to back electrifying performances from the Alert Master, Koredo Bello, Koko Master, De Banj, the gorgeous Yemi Alade, as well as a sensational Dr Sid.

 

Also on stage to crack the ribs of the audience with jokes was “Basket Mouth.” This was a night of intense fun as staff danced and laughed for a greater part of the night without any consideration for the stress that usually comes with their job.

 

Speaking during the awards ceremony, Phillips Oduoza, Group Managing Director and CEO of UBA Plc described the UBA CEO awards as the most exciting event in UBA operational calendar.

 

“This is the night we honour members of our staff who have come to represent everything we stand for as an organization. The staff, departments and business units that receive awards this night are hardworking, articulate and always willing to go the extra mile to achieve the targets we set for ourselves at the beginning of every financial year as a bank” Oduoza said.

 

United Bank for Africa Plc (UBA) is one of Africa's leading financial institutions, with operations in 19 African countries and 3 global financial centres: London, Paris and New York.

 

From a single country operation founded in 1949 in Nigeria, Africa's largest economy, UBA has emerged as a pan-African provider of banking and other financial services, to more than 10 million customers, through close to 1000 branches and touch points globally

 

Ally Derks Leaves IDFA 2017

 
Having spent almost thirty years at the head of the International Documentary Film Festival Amsterdam, founder and festival director Ally Derks has decided to leave IDFA. Derks will spend 2017 living and working in Berlin as an invited ‘fellow’ of the prestigious ‘Robert Bosch Stiftung’. 2017 also marks the 30th anniversary of the founding of IDFA. “That seems like a good moment to say farewell and pass on the baton to the next generation,” says Ally Derks.
Ally Derks (1958) is one of the most influential people in the Dutch film world. She founded IDFA in 1988. The first edition of the festival screened 80 films to an audience of around three thousand. IDFA has since become the leading documentary festival in the world, receiving 271,000 visitors last year. In recognition of this achievement, Ally Derks has been presented with numerous awards, including the Bannink Cock medal for her contribution to the city of Amsterdam. In 2011, Derks was awarded the prestigious Doc Mogul Award at the Canadian documentary festival Hot Docs, and last year she was made a Chevalier dans l'Ordre des Arts et Lettres by the French ambassador to the Netherlands. She has been referred to as ‘The High Priestess of Documentaries’ by ‘Indiewire’ magazine.Under Derks’ passionate leadership, IDFA has grown into much more than just a festival. IDFA Forum has developed into a leading international co-finance and co-production platform; Docs For Sale is a marketplace for the purchase and sale of films; the IDFA Bertha Fund provides support to filmmakers from non-Western countries; DocLab is IDFA’s ground-breaking new media programme; the IDFAcademy is a major development institute for international documentary talent, and each year more than 10,000 children are exposed to documentary film through the IDFA schools’ screenings. And all of this is just a snapshot of the many activities carried out by and through IDFA.

As a ‘Bosch Fellow in residence’, Derks will remain affiliated to IDFA in 2017, but on a sabbatical. In November 2017 – during the thirtieth anniversary celebrations – Ally Derks will officially step down from ‘her’ IDFA.

Quote Ally Derks: “It has been 30 wonderful years, and saying goodbye is always a little painful. But I think the time is right. A year in Berlin will be a great challenge. I know I am leaving IDFA in good hands with my hugely appreciated, professional, dedicated colleagues. I look forward to the future with confidence, both for IDFA and for myself.”The Board of IDFA completely understands Derks’ decision to leave the festival after thirty years, “although IDFA without Ally is almost unthinkable,” says chairman of the board Derk Sauer. “We are of course hugely indebted to Ally for what she leaves behind: a strong organisation, a fantastic festival and a great future.”

The IDFA Board is delighted to report that Barbara Visser will take over Ally Derks’ role for 2017, and will be responsible for the composition of next year’s festival programme. Barbara Visser (1966) is a visual artist/filmmaker and also chairs the Royal Academy of the Dutch Royal Society of Arts.

Visser has a long association with IDFA. In 2010, she took part in the IDFA Workshop and won the Media Fund’s Documentary Award for her film plan C.K. In 2013, she was guest curator of the Paradocs programme and in 2015 Visser chaired the jury of the ‘IDFA Competition for Feature-Length Documentary’. Barbara Visser has been a member of the IDFA Board since 1 January 2016, and will step down from this position in 2017.

Quote Barbara Visser: “The documentary story, whether told in film or through interactive media, builds a bridge between social commitment and artistic freedom. These days there is always an abundance of information, while the giving of context and creation of beauty are pushed to the margins. The success of IDFA demonstrates that increasingly large numbers of people are coming to realise this.”

IDFA’s board intends to present a new artistic director during the first quarter of 2018. The current financial director, Cees van ’t Hullenaar, will take over as managing director as from 2018. During 2018, Ally Derks will remain affiliated to IDFA in an advisory role in order to allow the transition to take place as smoothly as possible.