Integrated System and Devices Limited Achieves IMS Certification

Integrated System and Devices Limited (ISDL), a major provider of electronic security solutions, is delighted to announce the successful attainment of ISO 14001:2015 and ISO 45001:2018 certifications following a rigorous audit process conducted by Bureau Veritas Certification Holdings SAS-UK Branch.

In 2021, ISDL bagged the Quality management systems ISO 9001:2015, and now in 2024, with unwavering dedication to customer satisfaction, the occupational Health and Safety system ISO 45001:2018 and the Environmental management system ISO 14001:2015 have been consolidated to form an Integrated Management System.

These certifications, covering ISDL’s headquarters and branches, signify the company’s unwavering commitment to upholding the highest standards of quality management across all facets of its operations. According to Engr. Oluseun Mabogunje, the Managing Director of ISDL, the scope of the certifications encompasses the design, procurement, supply, installation, integration, maintenance, and after-sales support of various electronic security and Extra Low Voltage (ELV) equipment.

Engr. Mabogunje expressed his elation at receiving the IMS certifications, emphasizing ISDL’s dedication to delivering exceptional quality and service to its clientele. He emphasized that this achievement underscores the company’s ongoing pursuit of continuous improvement and customer satisfaction.

ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 are internationally recognized standards for Quality, Occupational Health & Safety and Environmental management systems, emphasizing a process-based approach to meeting customer requirements and enhancing satisfaction, protecting the environment and also providing safe and healthy working conditions to prevent work-related injuries and illnesses among our employees, contractors and visitors. ISDL’s certification demonstrates its ability to consistently provide products and services that not only meet regulatory requirements but also exceed customer expectations.

Engr. Mabogunje extended profound gratitude to the workforce for their contribution to this achievement, attributing it to their team spirit and unwavering dedication to hard work, resilience and excellence. He urged the staff to continue offering top-notch services to their clients.

About Integrated System and Devices Limited (ISDL):
Integrated System & Devices Limited (ISDL), incorporated in 1988, is a leading provider of Electronic Low Voltage(ELV) and Security systems, that provides a total turnkey service for the design, supply, installation and continued effectiveness of security systems for medium and high-risk locations. ISDL has over 30 years’ history in the delivery of professional electronic security services in integration, maintenance and after sales support of various electronic security and related equipment. ISDL has her head Office in Lagos, and two branch offices in Abuja and Port Harcourt, Nigeria.

For more information about ISDL, please visit www.isdlnig.com

ZENITH BANK SHOWS CONTINUED MARKET LEADERSHIP WITH 189% GROWTH IN Q1 EARNINGS

Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2024, with an impressive triple-digit growth of 189% in Gross Earnings, from ₦270 billion reported in Q1 2023 to ₦781 billion in Q1 2024. This is despite the challenging operating environment and tightening monetary policy stance.

From the unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, 3rd May 2024, this impressive growth in the topline also enhanced the bottom line, as profit before tax (PBT) rose to ₦320 billion in Q1 2024, representing an increase of 270% from the ₦87 billion reported in Q1 2023. Profit after tax (PAT) equally grew significantly by 291% from the ₦66 billion reported in Q1 2023 to ₦258 billion in the current period.

Interest and non-interest income contributed significantly to the growth in gross earnings. Interest income grew by 155% from the ₦192 billion reported in the quarter ended March 2023 to ₦489 billion in the period to 31 March 2024. The growth in interest income is due to the repricing of risk assets, owing to the increase in the central bank’s Monetary Policy Rate (MPR), which currently stands at 24.75%. The growth in net interest income is primarily due to the increase in fees and commissions as well as trading grains.

The Group reported an impairment charge of ₦56 billion for Q1 2024, up from ₦8 billion recorded in Q1 2023. This is attributable to significant growth in risk assets, primarily driven by the revaluation of its USD loans, which necessitated additional impairment on the bank’s foreign currency-denominated loans.

The cost of funds grew by 48% from 2.7% in Q1 2023 to 4% in Q1 2024 due to the high-interest rate environment, while interest expense increased by 157% from ₦71 billion reported in Q1 2023 to ₦182 billion in the period to March 2024. Notwithstanding the year-on-year (YoY) increase in interest expense, net interest margin (NIM) grew by 20% from 6.9% in the 3 months ended March 2023 to 8.3% in the current period ending 31 March 2024. Return on Average Equity (ROAE) and Return on Average Assets (ROAA) increased year-on-year (YoY) by 114% and 119%, respectively, due to improved profitability.

Gross loans, which are largely funded by customer deposits, grew by 30% from ₦7.1 trillion in December 2023 to ₦9.2 trillion in March 2024. Customer deposits also grew by 11% from ₦15.2 trillion in December 2023 to ₦16.8 trillion in March 2024, underpinning continued customer confidence in the Zenith brand. Total assets increased by 19% to ₦24 trillion within the same period.

The Group has consistently maintained all prudential ratios well above the minimum regulatory requirement. At the end of Q1 2024, Capital Adequacy Ratio (CAR) and Liquidity Ratio stood at 20% and 67%, respectively, demonstrating the Group’s ability to maintain a strong and liquid balance sheet.

The Group is making progress on the planned capital raise to support future growth and is very optimistic about meeting the new minimum capital requirements in line with the CBN’s recapitalisation directive. As the Group accelerates migration to its new technology architecture and also transitions into a holding company, it remains poised to maximise value for all stakeholders.

*Festus Keyamo and His Brand Of Administrative Activism*

By Philip Agbese

Festus Keyamo, the enigmatic figure at the helm of Nigeria’s aviation sector, has been a subject of both admiration and controversy. His unconventional approach to governance has polarised opinions, with some hailing him as a visionary leader and others questioning his methods. As the Aviation Minister, Keyamo has been unapologetically vocal about his commitment to reforming the industry, but his fervour for change has often been met with scepticism and resistance.

Of truth, one can not discuss Festus Keyamo without acknowledging his unyielding dedication to Nigeria. His admirable cockiness and unwavering patriotism and willingness to stand up for what he believes in are undeniable. Keyamo’s refusal to conform to the traditional norms of governance has earned him both admirers and detractors. Some argue that his zealousness is a breath of fresh air in a landscape rife with bureaucratic red tape, while others caution that his approach may be too radical for the delicate political ecosystem of Nigeria.

Being a proponent of grassroots empowerment, he believes that the voices of ordinary citizens must be heard in the corridors of power. To this end, he has worked tirelessly to mobilise communities, educate citizens on their rights, and empower them to demand better governance. Keyamo’s grassroots activism has inspired many Nigerians to take a more active role in shaping the country’s political future.

Festus Keyamo’s brand of administrative activism is not for the faint of heart. His willingness to challenge the status quo and push the boundaries of conventional governance is both commendable and disconcerting. While some laud his boldness, others fear that it may lead to unintended repercussions. Keyamo’s unapologetic stance has drawn comparisons to other historical figures who were willing to sacrifice everything for their ideals.

However, it is essential to consider the lessons from history. Keyamo’s determination to die for Nigeria, while admirable, should be tempered with caution. The case of Muammar Gaddafi serves as a cautionary tale. Gaddafi’s desire to die for Africa ultimately led to his downfall, as he was betrayed by his people.

Keyamo must be mindful of the potential consequences of such extreme rhetoric and ensure that his actions align with the best interests of the Nigerian people. It is crucial to tread carefully when treading such uncharted territory, especially in a country as complex and volatile as Nigeria.

Keyamo’s purported readiness to “die for Nigeria” is a testament to his unwavering commitment, but it also raises concerns about the potential consequences of such uncompromising dedication. History is replete with examples of individuals who staked everything on their convictions, only to face betrayal and disillusionment. It is a cautionary tale that should not be dismissed lightly.

Due to his fearlessness in the face of adversity, another facet of Keyamo’s administrative activism is his commitment to the rule of law, and this has earned him more political enemies than friends. He firmly believes that all individuals, regardless of their status or wealth, should be subject to the same legal standards. Throughout his career, he has faced numerous challenges and threats due to his outspokenness and activism.

Keyamo has been a vocal advocate for judicial reform in Nigeria, pushing for greater independence and efficiency in the country’s legal system. Despite these obstacles, Keyamo has remained steadfast in his commitment to social justice and human rights. His courage and determination have inspired many others to join him in the fight for a more just and equitable society. His efforts have helped to strengthen the rule of law and ensure that justice is served fairly and impartially.

The call for Keyamo to ”wake up” and recognise the realities of Nigeria is a poignant one. The complexities of the Nigerian political landscape can not be underestimated, and Keyamo needs to navigate these intricacies with prudence. While his passion for Nigeria is unquestionable, this fervour must be tempered with a deep understanding of the nuanced challenges facing the nation. An understanding of the fact that sources of progressive change and growth like his are mostly suffocated to die prematurely, or attacked ferociously till they fade into oblivion should be something he must have to consider seriously in his journey.

Setting aside the fervour surrounding Festus Keyamo’s zealousness, it is crucial to examine his impact as the Aviation Minister. His reforms in the sector have been both ambitious and divisive. Keyamo’s efforts to modernise and revitalise Nigeria’s aviation industry have been met with a mixed reception. While many applaud his bold initiatives, others express apprehension about the potential pitfalls of such rapid change. It’s not farfetched that the latter are people who have a penchant for the continuity of rascality and corruption, which have bedevilled the aviation sector for a long time.

Moving beyond Keyamo’s convictions, it is crucial to note that, during his tenure, Keyamo implemented several reforms aimed at improving the aviation sector in Nigeria. These reforms have had a significant impact on various aspects of the industry, including safety standards, infrastructure development, and operational efficiency.

One of Keyamo’s notable achievements was the introduction of stricter safety regulations. Under his leadership, the Aviation Ministry implemented measures to enhance safety protocols, ensuring that Nigerian airports and airlines adhere to international standards. This has not only improved the safety of air travel within the country but has also bolstered Nigeria’s reputation in the global aviation community.

Furthermore, Keyamo prioritised infrastructure development in the aviation sector. He spearheaded projects aimed at expanding and modernizing airports across the country, improving connectivity and facilitating economic growth. These infrastructure investments have not only enhanced the travel experience for passengers but have also attracted foreign investment and boosted tourism.

Keyamo’s reforms also focused on improving operational efficiency within the aviation sector. He introduced measures to streamline processes, reduce bureaucracy, and enhance transparency. These efforts have resulted in smoother operations, reduced delays, and improved customer service, benefiting both passengers and industry stakeholders.

It is important to acknowledge that Festus Keyamo’s vision for Nigeria’s aviation sector is driven by a genuine desire to propel the nation towards progress. His determination to address longstanding issues and overhaul outdated practices is a testament to his commitment to effect positive change. However, the path to reform is fraught with challenges, and Keyamo must navigate these obstacles with caution and foresight.

While his unwavering commitment to Nigeria is commendable, he must be cautious of the lessons from history and ensure that his actions align with the best interests of the Nigerian people. As the Aviation Minister, Keyamo has implemented significant reforms that have positively impacted the aviation sector. His focus on safety, infrastructure development, and operational efficiency has yielded tangible results, improving the travel experience and bolstering Nigeria’s reputation in the global aviation community.

Time will be kind to tell us how Festus Keyamo’s legacy will be one of the unyielding triumphs in the annals of Nigeria’s history. Generations will look back in time to remember that man who worked great wonders in the aviation sector, leaving so much for us to gain from his stewardship in the aviation sector.

As the nation continues to navigate its challenges, leaders like Keyamo must strike a delicate balance between passion and pragmatism, ensuring that their efforts lead to sustainable and inclusive development for all Nigerians.

Agbese MHR is the Deputy Spokesperson, 10th House of Representatives writing from Abuja.