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Business

CAN gets new leader as Ayo Oritsejafor hands over to Samson Ayokunle

Published

8 years ago

July 21, 2016

Sahara Weekly

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A new President was on Wednesday in Abuja inaugurated for the Christian Association of Nigeria (CAN), with a promise that under his administration, CAN would not patronise government but will be a check on misgovernment.

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Speaking before handing over to his successor, Dr. Supo Samson Ayokunle, outgoing President of CAN and Founder of the Word of Life Bible Church, Pastor Ayo Oritsejafor his most challenging period as CAN President for six years was the series of attacks he got from Christians.

Ayokunle, who is also President, Nigerian Baptist Convention,,said that although CAN would be a partner in progress, they would not fail to speak against the excesses of political leadership, even when the situation is not favourable for the truth.

He also called on government to take decisive step against those religious fanatics, who are attacking Christians, describing them as threat to the unity of Nigeria.

The cleric “We are committed to supporting the governments of the day in Nigeria, both the federal and state in all ways to achieve noble goals that would lead to development in the nation.

“CAN is not anti-government and the government should not be anti-CAN. We are supposed to be partners-in-progress. Each should respect the boundaries that would lead to mutual respect.

“However, we are not going to patronize the government and thereby fail in our responsibilities to speak against the excesses of those in political leadership. The church is in the world to improve the world and shine as light of the world.

“The church essentially is not of the world. We should stand out courageously and stand clean. We are aware that we are called to serve the body of Christ at the most challenging time for the church.”

Ayokunle who chronicled the recent attacks on Christians across the country, “call on the government of the day to take decisive action over these occurrences because it is their constitutional duty to do so.

“We shall not stop crying out for the government to do justice until we see that justice is done. Silence or inaction by those in government would continue to make the Christians express no confidence in them until they are ready to defend the rights of Christians and all Nigerians in this nation.”

The CAN President also called on past leadership of the body and churches to forgive each other and work for unity of one body, adding that the support of all and sundry is imperative for the survival of the new leadership.

“Without unity in CAN, there cannot be progress. By the grace of God we intend to lead CAN whose leadership is above board and would be able tom provide credible leadership for Christians and other Nigerians to follow.

“I appeal once again that we let all in-fightings and name callings come to an end. Let us embrace one another as members of God’s family where is no North, South, West or East,” he said.

In his remarks, Oritsejafor, recalled that his most challenging period was when the Christians, who he was defending were the one turning back to stand against him.

He however, thanked God for despite all odds was able to complete his tenure successfully, recalling that he took mantle of leadership when the road was seriously rough.

“We came in a period when the challenges of the church had reached a point that lots of Christians in Nigeria had been displaced from their home and churches.

“Some pastors particularly in northern Nigeria were closing their churches. Lots of fellow Nigerians had become internally displaced persons in their homes,” he said.

Oritsejafor called on Nigerian particularly the Christian faithful to stand behind Ayokunle and his team for the body (CAN) to be able to withstand the challenges.

He said; “To all Christians in Nigeria, we are entering a more challenging period in the history of our nation. Unfortunately, it is also the time that we seems to view CAN with some contempt.

“Yes! CAN may have her challenges, but for now we have no other body that unite us as CAN. So, we must revere the structure and leadership. Let us continue to pray for our land and leaders.”

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Business

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA

Published

3 hours ago

May 3, 2024

Sahara Weekly

ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA

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Mubi, May 3rd, 2024

Sahara Weekly Reports That The Abdul Samad Rabiu Africa Initiative (ASR Africa) commences the construction of a 500-capacity lecture theatre and wash facilities for the Adamawa State University, Mubi. This project is coming after the nomination of the institution as a recipient of the ASR Africa Tertiary Education Grant Scheme (TEGS), by the Board of Directors of the Abdul Samad Rabiu Africa Initiative.

Speaking at the event, the Acting Vice Chancellor of the University, Dr. Stephen A. Lagu, expressed his appreciation to the Chairman of BUA group and ASR Africa, Abdul Samad Rabiu, for the rare philanthropy gesture towards the university. He stated that the intervention of the Chairman would reduce the physical infrastructure deficit at their new campus and promote sanitation and hygiene in the university. He added that the choice of the 500-seat lecture theatre with the four boreholes at different locations within the campus was identified and agreed to by the relevant organs of the institution with the ASR Africa team.

Dr Ubon Udoh (MD / CEO, ASR Africa), in his remarks, congratulated the institution for qualifying for the nomination by the Board of Directors of ASR Africa. He stated that the rigorous selection process which includes stringent criteria such as the quality of service delivered by the university and the pedigree of graduands from the institution at the national and international levels, proves that the university is keeping up with its vision as a leading institution of learning in the region. He encouraged the management and students to ensure proper use and maintenance of the facilities as a show of appreciation for the grant given to them.

The Tertiary Education Grant Scheme of the Abdul Samad Rabiu Africa Initiative is part of the efforts of the Chairman of BUA Group and ASR Africa, Abdul Samad Rabiu to give back to the African continent and make a lasting impact in education as a means of uplifting and restoring the dignity and lives of Africans.

About ASR Africa

ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.

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Business

Rano: Inspiring Story Of An Ice block seller who became billionaire

Published

5 hours ago

May 3, 2024

Sahara Weekly

Rano: Inspiring Story Of An Ice block seller who became billionaire

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Alhaji Auwalu Abdullahi Rano, popularly known as A.A Rano transformed from a humble boy from Kano Village into a billionaire magnate, overseeing a conglomerate that includes 120 filling stations across Nigeria.

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Born into an average family in Lausu, Kano State, Rano started small, with an ice block and groundnut oil business, including other local items.

Rano has gone into building a multi-billion naira enterprise spanning various sectors of Nigeria’s economy.

Today, Rano owns AA Rano oil & Gas industry in Nigeria with 56 ML Tank farm in Lagos, with 120 retail outlet/ fillng stations across Nigeria and over 600 trucks & LPG terminals as well as acquired vessel (M.T LAUSAU).

His ventures include RanoGaz, a state-of-the-art Liquified Petroleum Gas (LPG) terminal, a rice milling company, Rano Lubricant, Rano Air, Lausu Marine and Logistics, AA Rano Terminal, and AA Rano Road Haulage.

@PUNCHNG

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Bank

Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

Published

12 hours ago

May 3, 2024

Sahara Weekly

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Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024

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In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn at the end of Q1 2023 to N39.5bn for Q1 2024. This was made known in the Bank’s unaudited financial statements released on the issuer portal of the Nigerian Exchange (NGX) on Tuesday, 30 April 2024.

According to the statement, Gross Earnings increased by 89.9% yoy to N192.1bn from N101.1bn in Q1 2023. The increase was led by a combination of interest income (90.7% yoy) and non-interest income (84.0% yoy). Growth in interest income was primarily spurred by a higher yield environment and strong earning assets base, while the increase in non-interest income was led by double-digit growth in account maintenance charges, FX-related income, trade, banking services, and remittances, supported by increased customer transactions.

Commenting on the results, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc stated, “We are pleased to report another quarter of strong financial performance driven by our strategic focus on customer-centricity, digital innovation and operational excellence. Despite the challenging macroeconomic environment, we remained resilient and agile, delivering double-digit growth on key income lines while advancing our business sustainability agenda.”

In the period under review, the bank grew Net interest income grew by 89.5% yoy to N99.6bn from N52.6bn in Q1 2023, driven by interest and similar income as the yield on financial instruments improved to 14.7% from 10.1% in Q1 2023 (2023FY: 11.6%). In line with the steady rise in interest rates through the year, average funding cost increased by 80bps ytd to 5.2%. However, NIM came in at 8.8%

compared to 8.1% in 2023FY, as increafeatsed yield on earning assets surpassed funding cost to 15.1% from 13.3% in Q1 2023 (2023FY: 13.5%).

Similarly, Total Deposits increased by 17.2% ytd to N4.7tn from N4.0tn in 2023FY, driven by double-digit growth across all deposit types (demand, savings and term). Net Loans and Advances increased by 21.2% to N3.7tn from N3.1tn in 2023FY.

“Beginning the year on this inspiring note reaffirms our strategy of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper. We are committed to our guidance as we build a more resilient business franchise with a well-diversified earnings base in 2024,” explained Onyeali-Ikpe.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8.5 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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