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Figures Don’t Lie: Wema Bank Standing On Strong Financial Fundamentals — Adebise

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Wema Bank, Nigeria’s leading innovative and digital-driven financial institution has reassurance its esteemed customers and shareholders that it remains standing on strong financial fundamentals and reliable performance metrics, riding on the back of seasoned and astute leadership.

The bank gave this reassurance, through its Managing Director/Chief Executive Officer, Ademola Adebise, while reacting to a recent publication in the media purportedly alleging a dip in its liquidity status following the unaudited report for 2020 with the MD/CEO saying the report is only a deliberate campaign to create panic among its stakeholders using false news, and therefore should be discountenanced,

He said, “The strength and viability of financial institutions are not measured on the isolated performance of one outlier year. The said report based a lot of its false allegations on the unaudited 2020 financial year. But that was a year when COVID-19 induced a lockdown and a disruption of such magnitude that negatively impacted businesses, industries, and economies the world over.

“Wema Bank has continually exhibited not just resilience, but admirable viability over the years with a 30.95% increase in earnings recorded in just 2019. Then came 2020, and in spite of the difficulties, we succeeded in achieving impressive results in key areas such as net earnings from fees and commissions, while growing the Bank’s asset base significantly.

“That’s not all, customer credibility in the bank was also accentuated with a massive increase in customer deposits over the previous year. This is an audacious show of confidence from the customers of Wema Bank

“These performance metrics amongst others, are testament to our smart balance sheet optimization approach which will be affirmed by the time the audited and official 2020 Financial Report is released in the coming weeks “

The CEO also referenced how well the Bank’s performance in the said 2020 makes it one of the best performing financial institutions in the land.

“We won the BusinessDay award for the Best SME Bank of the Year for 2020. A recognition of our unrivaled support for small and medium scale businesses through loans, business advisory, and ease of payments and transactions.

“Also, the recently published 2020 KPMG Customer Experience Survey, showed Wema Bank making significant growth in the retail category, climbing up ten (10) places from the previous year to 2nd position, with an above industry average of 74.6% Customer Experience score. This achievement is a mark of dedication to excellent customer service and refreshing support for all our customer categories.”

The KPMG Customer Experience Survey grades banks over six universal pillars of Personalization, Integrity, Expectations, Resolution, Time & Effort, and Empathy, and Wema Bank has shown a mastery of these pillars and has been outstanding at all of them.

Furthermore, in line with the bank’s sustainability goal of developing digital solutions for societal impact, it successfully organized the second edition of Hackaholics, a radical gathering of developers, web designers, and creative thinkers to develop solutions around key themes of Education, Health, Agriculture, Fintech, Gaming & Betting.

These are intentional measures put in place to sustain an institution’s legacy of economic evolution and social inclusion.

“We are a responsible corporate citizen with empathy as a core pillar of our personality. Thus, we stood by the nation in the trying times of the COVID-19 pandemic with significant support for governments at both the federal and state levels.

“Particularly to prevent severe food shortages and align with the SDG of Zero Hunger, we supported State Governments with food palliatives donation which alleviated the conditions of over 80,000 households of the most vulnerable segments of the population.”

With all these financial and non-financial performance metrics, it is not in doubt that Wema Bank is not only standing strong, it is also among the best performing financial institutions in Nigeria, in 2020.

“I’ll take this opportunity to commend our customers for their sustained trust in us. A support that has remained a critical pillar of our stability and growth over the years, especially as we celebrate our 76th anniversary.

For us as a responsible and visionary organization, we are staying committed to our corporate purpose of making life easier and better through innovation and digital-driven lifestyle solutions for Nigerians and their businesses.” Adebise concluded.

BIG STORY

JUST IN: Dangote Refinery Stops Sales To Unregistered Marketers

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The Dangote Petroleum Refinery and Petrochemicals Limited has halted self-collection gantry sales of petroleum products at its plant, effective Thursday, September 18, 2025.

This was disclosed in an internal mail obtained by our correspondent on Friday, signed by the refinery’s Group Commercial Operations Department.

According to the directive, the decision is aimed at encouraging broader use of the refinery’s free delivery scheme for retail stations and blocking unregistered marketers from accessing supplies either directly or through third parties.

The company described the measure as an operational adjustment to enhance efficiency and advised marketers to embrace its Free Delivery Scheme, which allows direct shipments to outlets.

It further cautioned that any payments made after the cut-off date would not be recognised.

The message to marketing partners partly stated: “We wish to inform you that, effective 18th September 2025, Dangote Petroleum Refinery and Petrochemicals FZE has placed all self-collection gantry sales on hold until further notice. In light of this development, we kindly request that all payments related to active PFIs for self-collection are also placed on hold until further notice. Please note that any payment made after this date will not be honoured.”

However, the refinery clarified that its Free Delivery Scheme remains active for both existing and new customers.

“We encourage all active and newly onboarded customers to register for the DPRP Free Delivery Scheme, which remains fully operational and offers a seamless delivery experience to your station,” the mail added.

The management also apologised for any inconvenience, assuring stakeholders that the move was necessary to improve operations.

The suspension comes amid an ongoing dispute involving the refinery, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

While NUPENG has accused the company of blocking unionisation among its truck drivers despite government intervention, DAPPMAN has criticised the “free delivery scheme,” alleging it forces marketers to depend on Dangote’s fleet at commercial costs.

Dangote Refinery, on the other hand, insists the delivery model is designed to ensure stable supply and reduce costs, accusing marketers of pushing for subsidies and diversion of products. The standoff has fueled concerns around pricing, workers’ rights, and market competition.

The new policy could affect independent marketers and retail operators who have not registered for the scheme and previously relied on direct self-collection at the gantry.

Earlier report had it that Dangote reaffirmed its stance in the face of DAPPMAN’s demands, stressing it would not absorb transportation costs that marketers want classified as subsidies.

This latest clash between Dangote and DAPPMAN comes at a time of rising anxiety over fuel costs and supply logistics nationwide.

DAPPMAN, whose members own most privately run depots in Nigeria, argues that moving products from the refinery’s Lagos base to other regions involves substantial logistics and coastal shipping expenses.

In a statement issued via Dangote Group’s official X account, titled “We Stand By Our Statement on DAPPMAN … Marketers’ ₦1.505trn Subsidy Demand”, the refinery reiterated its right to protect its operations from “misleading reports.”

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BIG STORY

Adron Homes Launches Lemon Friday Plus Promo 2025 With Discounts, Flexible Payments, And December Rewards

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Adron Homes and Properties has announced the official launch of its Lemon Friday Plus Promo 2025, an exciting opportunity for Nigerians to own land at discounted rates while enjoying mouth-watering rewards this festive season.

This year’s edition allows customers to begin their homeownership journey with an initial deposit as low as ₦50,000 and spread payments over multiple instalments. Subscribers also enjoy a 30% discount on land purchases with the option to clear the balance conveniently over 24 months.

Adron Homes’ estates are carefully designed to provide residents with the best of modern living, featuring adequate power supply, good road networks, functional drainage systems, CCTV, 24-hour security, recreational centers, shopping malls, and green spaces that promote healthier lifestyles.

The promo covers estates across Lagos, Ogun, Oyo, Ekiti, Abuja (FCT), Nasarawa, Plateau, Osun, and Niger States, giving prospective homeowners multiple location options in rapidly developing communities.

Promo Rewards by Category:

• BRONZE (₦300,000 deposit): 25kg bag of Rice + 2 Chickens + Vegetable Oil OR Home Theatre.
• SILVER (₦500,000 deposit): A Goat OR 50kg Bag of Rice + 3 Chickens + Vegetable Oil OR Rechargeable Fan.
• GOLD (₦1,000,000 deposit): A Goat + 50kg Bag of Rice + Palm Oil + Garri Ijebu OR 2 Bags of 50kg Rice + 4 Chickens + Palm Oil + Garri OR Washing Machine.
• DIAMOND (₦3.5M deposit on estates above ₦20M before discount): A Cow OR Double-Door Fridge.

Adron Homes has consistently bridged the home ownership gap in Nigeria by introducing flexible and convenient payment plans that allow more families to become homeowners. With initiatives like Lemon Friday Plus, the company is breaking down financial barriers and creating sustainable pathways for Nigerians to secure their future through real estate.

Promo Duration

• Instalment payments for initial deposits run from 7th July to 31st November 2025.
• The promo officially ends 6th January 2026.

“The Lemon Friday Plus Promo is our way of making December unforgettable for our customers,” said Adron Homes’ management. “We are not only offering affordable land ownership, but also giving families gifts that make the festive season brighter.”

Adron Homes invites all aspiring homeowners, investors, and families to take advantage of this limited-time opportunity to own property with flexible payment plans and rewarding bonuses.

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BIG STORY

Dangote Replies NUPENG: Our CNG Trucks Will Create 24,000 Jobs, Drivers Earn Triple Of Minimum Wage

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Aliko Dangote, president of Dangote Group, has dismissed claims that the Dangote Petroleum Refinery is displacing workers, insisting instead that the company is creating thousands of new jobs.

Speaking at a press briefing on Monday, the billionaire said the deployment of 4,000 compressed natural gas (CNG) trucks would generate at least 24,000 direct and indirect jobs nationwide.

“We are not taking jobs away; we are creating more opportunities. The CNG trucks will not be operated by robots,” Dangote said.

He explained that the refinery’s drivers are paid salaries three times higher than the national minimum wage. In addition, employees receive life insurance, health insurance that covers their spouses and up to four children, and a guaranteed lifelong pension.

According to him, the recruitment drive extends beyond drivers to include mechanics, fleet managers, and other technical professionals who will support the new fleet.

The refinery had announced the acquisition of the 4,000 CNG trucks on June 15, saying the move would strengthen its nationwide fuel distribution. By June 29, the company projected that the distribution scheme could save Nigeria over ₦1.7 trillion annually.

However, three months later, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) threatened a nationwide strike, accusing Dangote Refinery of anti-union practices. Though the union suspended a two-day strike on September 9, it warned of possible further action.

‘Refinery not opposed to unions’

Sayyu Dantata, founder of MRS Oil Nigeria Plc, stressed that Dangote Refinery was open to working with NUPENG and other labour organisations.

“We are not against unions. We want to live and work alongside them. There’s no problem with that,” he said.

He noted that the refinery only became aware of the union’s grievances through media reports, despite his longstanding ties with industry unions.

“By law, unions are expected to give notice and a grace period before action. Even so, we went into dialogue. Unionism is not by force. People have the right to decide whether or not to belong,” Dantata said.

He added that the refinery welcomes all business partners without discrimination, whether they are union members or not.

“Our focus is the common man. Most of our drivers prefer independence because we ensure they earn a decent wage,” he said.

According to him, the new working conditions have elevated the social status of truck drivers in Nigeria. “For the first time, a driver can proudly tell his children that he is a truck driver and still provide them with food, shelter, and education,” Dantata said.

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