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Credite Capital Declares N30m Dividend At AGM

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Credite Capital Finance and Investment Ltd., has declared a N30 million dividend to shareholders at 14k per share for the year ended Dec. 31, 2022.

Speaking at the company’s 6th Annual General Meeting 2023 (AGM) held on Tuesday at Marriot Hotel, Lagos the Managing Director, Mr Segun Ogunleye, also declared a bonus of N25 million to shareholders.

Ogunleye said the dividend was an increase of 27 per cent against N21 million for the year ended Dec. 31, 2021, at 11k per share. He noted that the company, in spite of the harsh operating business environment, forged ahead and declared some profits.

Ogunleye said that the company would continue to deliver excellent results and services to its customers and stakeholders. This year, we attribute our development to hard work, commitment and the very dynamic structure of the firm.

“We understand that there’s inflation and other economic headwinds but we see it as an advantage and opportunity to explore in the face of the challenges of the business world.

“What we have done is to understand our market and explore our target to get our results, particularly as we continue to grow our numbers in lending money to small and medium enterprises and also provide payroll lending to civil servants across the federation,” he said.

Ogunleye reiterated the company’s commitment to sustaining its brand integrity, and obligations even as it expands its markets and develops new frontiers to meet the needs of the people.

He urged the government to continue to come up with policies that would make life better for businesses to thrive.

Chairman, Mr Tokunboh Abudu, Credite Capital Finance and Investment Ltd., noted that in spite of the challenges during 2022, the company’s performance reflected its resilience and determination to deliver optimal value to its stakeholders.

Abudu said the company closed the year on a good note, growing Profit Before Tax (PBT) to N86.7 million, representing a 27.1 per cent increase year-on-year from N68.2 million recorded in 2021.

He added that the company recorded a 28.1 per cent growth in Profit After Tax (PAT) to achieve the sum of N70.3 million for the financial year ended December 2022.

“Similarly, our gross earnings grew by 36.2 per cent to N979.5 million compared to N718.9 million reported in FY 2021.

“The growth comprised a 68.9 per cent increase in non-interest income and a 32 per cent growth in interest income and your company grew its balance sheet by 10 per cent to N3.3 billion.

“In 2022, we were consistent with our strategy to deliver innovative solutions that enabled our customers to thrive in a dynamic environment.

“We have successfully diversified into public sector lending which has given the company significant recognition among her peers in the market.

“As a good organisation, our contribution to the operating environment cannot be over-emphasised as the company continues to support educational sectors, especially schools, religious organisations and orphanages,” he said.

The company’s chairman projected a positive outlook for Nigerian banks and Financial Services in 2023.

He, however, stated that taking advantage of the opportunities and overcoming the challenges would require effective risk management, strategic planning and innovation.

“We remain very optimistic about our company’s future and are devoted to effectively transforming our business to deliver optimal performance and significantly superior service to millions of Nigerians.

“We are steadfast in our commitment to lead with best-in-class customer experience and establish a work environment that helps our employees become the best version of themselves.

“They also become even more socially responsible as an institution, and create immense value for our shareholders,” he said.

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Naira Depreciates Because I Was Out Of The Country — Odumeje

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The Mountain of Holy Ghost Intervention and Deliverance Ministry’s Prophet Chukwuemeka Ohanemere, popularly known as Odumeje, declared that he had returned to Nigeria in an effort to halt the dollar’s appreciation relative to the Nigerian Naira.

Odumeje, in a video recorded at the airport while returning from London, boasted: “This is Indaboski Bahose. The war and the battle. A man full of power and activities. The only man who tells you, “I will bring down a dollar,” and he gets it done. When I left the country, dollar began to rise; now, I am back, I will continue where I stopped.”

In a video recording of one of his church programmes a few weeks ago, the self-acclaimed prophet had claimed that the exchange rate of dollar to naira came down because of one of his powers, which he dubbed ‘Abidoshaker.’

His claims came on the heels of the Nigerian currency’s significant gains after exchanging at N1,920 per dollar.

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Two Brothers In Police Net For Alleged Gang-Rape In Ogun

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Olamijuwon Noibi and Lukman Olatunbosun, two brothers, have been taken into custody by the Ogun State Police Command on charges of gang rape at Oke Eri, Atan Ijebu Area, Ogun.

A trustworthy law enforcement source, on Thursday, revealed that Noibi had tricked Aminat Yakub into coming to his flat, where he then allegedly sexually abused her while plotting with Olatunbosun, his younger sibling.

Yakub was allegedly invited by Noibi to visit his mother on Saturday, but when she got to his residence, she didn’t get to see her.

After making her consume an alcoholic beverage called “Bullet,” he allegedly physically attacked her before raping her.

According to The Punch, Noibi was also coerced his younger brother, Olatunbosun, with a knife so he could join him in the act, and filmed both of them while they were having sex.

When contacted, the spokesperson for the Ogun Police Command, Omolola Odutola, confirmed the incident and said that the suspects had been arrested and would be transferred to the State Criminal Investigation Department for a discreet investigation.

“On the 24/4/2024, at about 13:00hrs, one Aminat Yakub ‘F’, Aged 21 years, of Main Estate Oke Eri Area, came to the station and reported that on the 21/4/2024, at about 12:30hrs, she went to the house of one Olamijuwon Noibi ‘M’ at Oke Eri on invitation to come and greet his mother. When she got there, she discovered that his mother was not at home.

“Juwon forcefully pushed her into his room, then forced her to drink Black Bullet and forcefully had sex with her twice after a serious beating. He later invited his younger brother, Lukman, to come and have sex with her but when his younger brother refused, he took a knife threatening to kill both of them. In the end, his younger brother ended up having sex with her after a serious beating and equally took a video of them.

“Upon the receipt of the complaint, the team of patrol led by Asp Ayoola Alidu at the station and went to the scene of incident. The two alleged suspect was arrested one Olamijuwon Noibi, ‘M’, Age 27 Yrs and one Lukman Olatunbosun, ‘M’, Age 20 yrs,” a police statement.

The PPRO noted that both brothers confessed to the alleged crime, and the victim was taken to the General Hospital Ijebu-Ode for examination, saying that the suspects would soon be transferred to the State Criminal Investigation Department for “discreet investigation and further development will be communicated.”

Earlier report had it that the operatives of the Rivers State Police Command had arrested a 30-year-old man identified as Jeffrey for allegedly defiling the teenage daughter of his landlady in an estate in Abuloma, Port Harcourt Local government Area of the state.

It was learnt that the suspect, who had a tailoring shop at the estate, lured the 13-year-old girl to his business place one evening under the guise of showing her clothes.

But Jeffrey ended up locking the shop, overpowered the girl, and allegedly had his way with her.

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Lagos Government Pays N1.5bn WASSCE Fees For 58,000 Students

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58,000 pupils will be registered for the 2024 West African Senior School Certificate Examination this year, with the state government spending N1.5 billion, according to Tolani Alli-Balogun, Commissioner of the Lagos State Ministry of Basic and Secondary Education.

In announcing the ministry’s efforts to mark the first year of Governor Babajide Sanwo-Olu’s second term in office, the commissioner made this statement on Thursday.

On May 29, 2023, Sanwo-Olu took the oath of office for a second term as governor, vowing in his inauguration speech to disappoint the people of Lagos.

The commissioner, who spoke at the state secretariat, said, “The administration of Babajide Sanwo-Olu has never defaulted on the payment of WASCCE fees of all public school SS3 students in the four years of Governor Sanwo-Olus’s first term in office. The state government paid over N4.2bn between 2020 and 2023 to keep our promise of full payment of the West African Senior School Certificate Examination fees.

“In the current school year (2024), the governor has approved the sum of N1,571,076,000 as registration fees and other cost for 58,188 SS3 students writing the West African Senior School Certificate Examination.”

Last year, the West African Examination Council, which conducts WASSCE, noted that it had concluded plans to begin computer-based examinations in 2024.

It released the results of the first-ever CBT exam, 2024–First Series, in March this year.

The analysis of candidates’ performance showed that out of the 8,139 candidates that sat the examination, 3,424 candidates representing 42.07 percent obtained credit and above in a minimum of five subjects (with or without English Language and/or Mathematics).

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