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FrieslandCampina WAMCO beats the odds, announces 35% revenue increase

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FrieslandCampina WAMCO beats the odds, announces 35% revenue increase

 

 

 

 

 

 

Dairy leader and maker of Peak, Three Crowns, Coast, Olympic and Nunu brands of milk FrieslandCampina WAMCO Nigeria PLC has announced 35% revenue growth and 1-for-1 bonus at its 49th Annual General Meeting held recently at the Sheraton Hotel, Ikeja, Lagos.

 

 

 

 

 

 

 

 

*Operating Results and Performance:*
The Company achieved strong volume and value growth compared with the previous year despite the difficult operating environment characterised by increased competition and influx of substitute propositions. As a result, Turnover increased by 35% from N199.5 billion in 2020 to N268.4 billion in 2021. Operating Profit increased by 13% from N19.4 Billion in 2020 to N22 Billion in 2021. High Finance costs due to Naira devaluation led to a decline in Profit Before Tax (PBT) by 15% from N14.9 billion in 2020 to N12.7 billion in 2021.

 

 

 

 

 

Ben Langat, Managing Director FrieslandCampina WAMCO Nigeria PLC and Sub-Sahara Africa Cluster, explained: “In the year under review, we made excellent progress in strengthening our business strategies. We scaled up investments in brands and optimized physical availability. The combination of solid brands, operational excellence and expanded route-to-market (RTM) distribution strategy sustained our leadership position and delivered significant top-line growth. Likewise, our sustainable Dairy Development received a boost through significant initiatives including collaboration on the Value4Dairy Consortium, investment in a new mobile yoghurt factory to scale up fresh milk processing, expansion to new states; all modelled towards delivering and accelerating backward integration of the dairy sector in Nigeria.”

 

 

 

 

 

 

 

In accordance with the company’s dividend policy, the Board of Directors proposed a total dividend of N5.83 per N0.50 ordinary share. An interim dividend of N1.10 was paid in 2021, and a final cash dividend of N4.23per N0.50 share was approved by the shareholders at the Annual General Meeting plus a bonus share to be issued to existing shareholders on a one-for-one basis i.e., one ordinary share with a nominal value of N0.50 for each share owned.

 

 

 

 

 

 

 

 

 

According to Mr. Moyo Ajekigbe, OFR, Chairman, Board of Directors, “Our achievements in 2021 were the result of concerted efforts by various stakeholders, and I would like to express my appreciation to them for their valued contributions. The Board recognises the formidable leadership, resilience and professionalism of the Management Team, which delivered the strong performance recorded in 2021; and our greatly valued employees at all levels for their hard work, dedication and continued commitment. Despite the severe headwinds in our business environment, our Company was able to sustainably grow the business across the board.”

 

 

 

 

 

 

 

 

 

 

 

*2022 Company Outlook*
The country’s GDP is expected to grow by 3-4%; however, the outlook remains clouded by uncertainty surrounding oil price trajectory, scarcity of FX, rising inflation, high unemployment, security challenges and social tensions across the country. Both the supply and demand sides of our business would be under immense pressure. The expected volatility and uncertainty in the business environment not withstanding, the Board and Management remain confident about the future of the Company and are committed to its success and sustainability. We are confident that the Company’s brands, which are leaders in the dairy sector, will continue to leverage our optimised route-to-market. We will continue to aggressively pursue our backward integration and product diversification strategies with vigour to ensure the long-term sustainability of our business.

 

FrieslandCampina WAMCO beats the odds, announces 35% revenue increase

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Enhancing public safety and security: The Halo Trust, US Govt partner to provide ammunition handling and accounting training at Ikeja Lagos, Nigeria

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Enhancing public safety and security: The Halo Trust, US Govt partner to provide ammunition handling and accounting training at Ikeja Lagos, Nigeria

 

 

 

The Nigeria Police Force Explosive Ordnance Disposal – Chemical Biological Radiological and Nuclear (NPF EOD-CBRN) has successfully completed the first batch of training for 19 personnel on Ammunition Handling and Accounting Course. The training, held in Ikeja, Lagos, from December 3-20, 2024, was organized by The HALO Trust and sponsored by the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs.

According to The HALO Trust’s Country Director for Nigeria, Prince Ganiyu Otunba, this training is part of aholistic NPF-HALO developed project aimed at supporting personnel capacity building, addressing equipment needs, and enhancing the operational readiness of the NPF EOD-CBRN Command to mitigate explosive ordnance threats in Nigeria. A second batch of 22 personnel is scheduled to undergo the same training in January.

The Inspector General of Police, IGP Kayode Adeolu Egbetokun PhD, NPM, through the CP EOD–CBRN CP Patrick Atayero expressed gratitude to the Bureau of International Narcotics and Law Enforcement Affairs andThe Trust HALO for their support.

The training aimed to equip NPF EOD-CBRN personnel with the knowledge, skills, and best practices necessary to handle and account for ammunition and explosives safely and securely. The course also focused on ensuring proper accounting and record-keeping, preventing theft and diversion, reducing the risk of unplanned explosions at munitions sites, and promoting international best practices.

The NPF appreciates the support provided by the United States government, which will have a profoundly positive impact on the society.
CP Patrick Atayero emphasized the importance of responsible ammunition management in preventing the proliferation of illicit weapons and reducing the risk of unplanned explosions at munitions sites. He urged all stakeholders to collaborate with the Police in efforts to prevent the diversion, misuse, and unauthorized handling of explosive and other hazardous materials.

 

About HALO
The HALO Trust is the world’s largest humanitarian organization engaged in the field of Mine Action and weapons and ammunition management. With over 35 years’ experience, The HALO Trust is the most experienced organization in the field of Weapons and Ammunition Management, rehabilitating and constructing armouries and ammunition stores to international standards, disposing of unsafe and unserviceable weapons and ammunition, and building national capacity to allow for the safe, accountable and secure management and control of weapons and ammunition.
The HALO Trust presently implements Mine Action and weapons and ammunition management projects in 30 countries and territories. In 2024, HALO trained a total of 106 Nigeria security forces personnel in weapons and ammunition management.

Enhancing public safety and security: The Halo Trust, US Govt partner to provide ammunition handling and accounting training at Ikeja Lagos, Nigeria

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“Sentenced to Death for Stealing a Fowl: The Shocking Case of Segun Olowookere Sparks National Outrage”

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“Sentenced to Death for Stealing a Fowl: The Shocking Case of Segun Olowookere Sparks National Outrage”

“Sentenced to Death for Stealing a Fowl: The Shocking Case of Segun Olowookere Sparks National Outrage”

 

The Nigerian social media space was thrown into an uproar on Tuesday as news spread about Segun Olowookere, an only child, who was sentenced to death by hanging for stealing a fowl in Osun State. The case, which dates back to 2010, has raised serious questions about justice, fairness, and the Nigerian judicial system.

Olowookere, now 31, was arrested alongside Sunday Morakinyo in Oyan, Odo-Otin Local Government Area, when he was just 17 years old. Accused of robbing a police officer of two fowls and eggs worth ₦20,000, the duo was convicted in 2014 by Justice Jide Falola of the Osun State High Court.

The Arrest and Trial

According to Olowookere, his ordeal began when a group of minors, allegedly involved in theft, named him as their gang leader. Despite his denial, he was subjected to severe torture by police officers and detained without immediate legal recourse.

“The police demanded ₦30,000 for my bail, but my father could only raise ₦20,000. Before he could return with the full amount, I was transferred to the Special Anti-Robbery Squad in Osogbo,” Olowookere recounted.

At trial, six witnesses testified against him. Although he pleaded not guilty and claimed innocence, the court relied heavily on a controversial confession reportedly obtained under duress. Justice Falola sentenced both Olowookere and Morakinyo to death for armed robbery, life imprisonment for robbery, and three years for theft.

Public Outcry and Calls for Justice

The harsh sentence, perceived as disproportionate to the crime, has ignited widespread criticism. Human rights lawyer Femi Falana (SAN) condemned the ruling, arguing that the trial was unlawful since Olowookere was a minor at the time of the offence.

Falana stated, “The Osun State High Court lacked jurisdiction over the case. The matter should have been handled by the Family Court, which would not impose the death penalty on a child.”

Governor Adeleke’s Intervention

“Sentenced to Death for Stealing a Fowl: The Shocking Case of Segun Olowookere Sparks National Outrage”

Osun State Governor Ademola Adeleke has ordered an investigation and initiated steps for a pardon. “I assure the public that this case is receiving urgent attention. Justice and fairness must prevail,” the governor announced on X.

Lingering Appeal and a Tarnished Legacy

The case is still pending appeal at the Court of Appeal, Akure, 13 years after it began. Meanwhile, Justice Falola, who presided over the trial, was recently retired by the National Judicial Council following a separate scandal involving professional misconduct.

The Human Toll

Olowookere, who has spent over a decade on death row, dreams of becoming a doctor. He has trained under medical practitioners at his custodial center and hopes to prove his innocence and contribute to society.

“I pray to God to set me free. I am not a criminal. I’ve never stolen anything in my life,” he said.

Morakinyo, his co-convict, was not as fortunate. Following years of torture, he has developed severe mental health issues and is now unrecognizable, according to Olowookere.

What’s Next?

As the public awaits the conclusion of the appeal process, Olowookere’s story has become a rallying point for advocacy against systemic injustice. Many Nigerians are calling for comprehensive judicial reforms to prevent such cases in the future.

The tragedy of Segun Olowookere is a grim reminder of the cracks in Nigeria’s justice system—cracks that have left a young man’s life hanging in the balance for over a decade.

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Nigerian Man Returns ₦5 Million Mistakenly Sent to His Account Amid Economic Hardship

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Nigerian Man Returns ₦5 Million Mistakenly Sent to His Account Amid Economic Hardship

A Nigerian man, Ben Kingsley Nwashara, has become a symbol of integrity after returning ₦5 million mistakenly deposited into his bank account during a time of widespread economic hardship in the country.

Nigerian Man Returns ₦5 Million Mistakenly Sent to His Account Amid Economic Hardship

Nwashara shared his experience on X (formerly Twitter) on December 20, posting a screenshot of the unexpected transaction alert. He expressed astonishment at receiving such a large amount during challenging financial times.

“Someone mistakenly sent me ₦5,000,000 (Five Million Naira) to my Fidelity Bank account. In this hard time? I’ve been getting calls from different persons because of this,” he wrote.

Determined to resolve the situation lawfully, Nwashara immediately contacted the police to report the incident, explaining his intent to protect himself from potential fraud accusations.

“I will be headed to the police station to make a statement. Let the bearer of the account come and confirm he or she sent it with evidence,” he added.

In a follow-up post, he shared evidence of his integrity—a receipt showing the successful return of the funds to Sliding Towers Global Limited, the original sender. Additionally, he documented his visit to the Ogui Police Station in Enugu to ensure transparency and accountability.

“Let it be on record that I’ve returned the sum of ₦5Million mistakenly sent to me by one Sliding Towers Global Limited. I’ve also made an entry at the Ogui Police Station, Enugu, to this effect,” Nwashara stated.

His actions have garnered widespread praise on social media, with many commending his honesty and strong moral compass, particularly during Nigeria’s current economic challenges.

“This is the kind of integrity we need in our society. He didn’t succumb to the temptation to keep the money despite the hardship,” one user wrote.

Ben Kingsley Nwashara’s exemplary behavior has sparked conversations about ethics and accountability, proving that integrity still thrives in unexpected situations.

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