Business
‘I Became a millionaire at age 17’ – Popular actress, Hilda Dokubo
Popular actress, Hilda Dokubo hasn’t been in the public glare for a while now. Even before she served as a Special Adviser on Youth Affairs to former Rivers State Governor, Peter Odili, she had rarely been seen in movies.
But that does not diminish her status as a widely-loved Nollywood actress. She has featured in several block-buster movies over the years that have won her millions of fans. Of particular fascination is the emotional way she plays her role. She cries easily on camera, and she can be said to be a method-actor, as her portrayal is graphic and distinct.
The role-interpreter was in Lagos recently where she ministered as a Pastor at the Fresh Oil International Church. During her sermon, she revealed some part of her past that may be unknown to many. While speaking, she said, “I was born with a silver spoon, but death turned me poverty-stricken after my father died when I was just nine.
I turned away from God at that point, because I felt disappointed that despite how much my father loved and served God, he still died.” She continued, “After my dad died, my mother completely lost her mind. If she were living in the US, I’m sure she would have been diagnosed as a mental case.
You know, in Nigeria, we don’t consider people mad until they have started eating from dustbins. I rebelled against God at that point, and I stopped going to church at the age of nine.
“However, I was a very brilliant girl, and I got admission into the university at the age of 16. I became rascally and did what girls like that do. I slept with a man, and I became pregnant. It wasn’t the Holy-Spirit that impregnated me. My mom was devastated and disappointed in me because of that. I was also angry with her because ‘her God’ killed my father, and we stopped speaking to each other. One day, a man came to me and said he needed a barge. I didn’t know what it was, and he told me it was used to store oil.
I then recalled that I had once seen a barge in the compound opposite ours. I went to the neighbour and told him I needed the barge. He asked me what I needed it for, but I told him not to worry. I told them to put the barge in front of my mother’s house. At that point, the man who told me he needed the barge came back, and dropped sacks of money containing N2m with my mom because I was in school at that time.
Two weeks later, he returned with N500,000, and I was dumbfounded. Before then, I had never seen N100,000 together, but there I was as a millionaire at 17, not knowing what to do with the money.
I would have become a prostitute, but I became restless and challenged destiny. Your life cannot change for the better if you don’t challenge destiny. Even God challenged destiny.”
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
ASR AFRICA COMMENCES THE CONSTRUCTION OF A 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR THE ADAMAWA STATE UNIVERSITY, MUBI, NIGERIA
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.
Rano: Inspiring Story Of An Ice block seller who became billionaire
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.
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
Fidelity Bank records a 120.1% growth in PBT to N39.5bn in Q1 2024
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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