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2023 HALF YEAR RESULT: FBN HOLDINGS POST N206BN PRE-TAX PROFIT

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2023 HALF YEAR RESULT: FBN HOLDINGS POST N206BN PRE-TAX PROFIT

 

FBN Holdings Plc, has reported a profit before tax of N206 billion for the half year ended June 30, 2023.

 

 

 

 

FBNHoldings disclosed the figures in its second-quarter statement released yesterday on the Nigerian Exchange.

 

 

 

The increase in second-quarter profits helped its half-year profit before tax to rise by 213% compared to N65.7 billion in the same period last year.

 

 

 

This is also the Bank Holding Company’s best half-year performance since it was listed on the Exchange.

 

2023 HALF YEAR RESULT: FBNHOLDINGS POST N206BN PRE-TAX PROFIT

 

A breakdown of the company’s impressive financial results shows that the bank’s two-quarters of outstanding performance means a profit after tax of N174.9 billion, which is a 228.3% increase from the N53.3 billion reported in the first half of the previous year.

 

The first half 2023 profit has also surpassed the N136.173 profit reported in the full year of 2022 (January to December).

The Group’s gross earning of N656.6bn represents a growth of 82.8% from the N359.2bn reported in the first half of the previous year. Al impressive records are Net interest income of N232.6bn, up 52.1% y-o-y (Jun 2022: N152.9bn); Non-interest income of N229bn, up 112.0% y-o-y (Jun 2022: N108.1bn); Operating expenses of N222bn, up 24.7% y-o-y (Jun 2022: N178bn).

Profit before tax of N188.8bn, up 214.6% y-o-y (Jun 2022: N60bn); Profit after tax of N174.9bn, up 228.3% y-o-y (Jun 2022: N53.3bn)

Total assets grew by 34.8% y-t-d to hit N13.6 trillion, Customers’ loans and advances (net) of N5.2trn, up 39.9% y-t-d (Dec 2022: N3.7 trn); and Customers’ deposits of N8.8trn, up 26.9% y-t-d (Dec 2022: N6.9trn)

The Group Managing Director, FBNHoldings, Nnamdi Okonkwo, while commenting on the results stated that: “FBNHoldings has continued to deliver a strong financial performance despite the complex operating environment, thanks to our reinforced foundations, deep market understanding, strong risk management and execution capabilities. On the back of this and in line with our focus of driving further improvement in revenue generation and profitability, the Group delivered strong growth in gross earnings and profit before tax resulting in N656.6 billion and N206.3 billion respectively, for the first half of 2023 financial year”.

He noted that the company will continue to focus on customer-centric innovations with strong transactional and digital capabilities supported by sound risk management practises to anticipate and creatively deliver products and services that delight the different customer segments that we serve.

While noting that the current operating environment remains challenging, he maintained that the company is confident of successfully navigating the terrain.

Commenting on the results, Chief Executive Officer of FirstBank (Commercial Banking Group), Dr. Adesola Adeduntan, added: “In the first half of 2023, FirstBank Group delivered the strongest financial performance in the almost 130 years of the Bank’s history; with solid business momentum, increased revenue, and excellent returns. The result reflects the continued positive impact of our strategy and the tremendous progress that we have made in growing and transforming the Group. The result also highlights the resilience of our business model, customer relationships and institutional capabilities”

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Pastor Peter Oyediran Achieves Remarkably: A Master of Science in Nursing from Walden University ~Oluwaseun Fabiyi

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Pastor Peter Oyediran Achieves Remarkably: A Master of Science in Nursing from Walden University
~Oluwaseun Fabiyi

 

Pastor Peter Oyediran is an American-based Nigerian-born pastor who serves as resident pastor at RCCG Jesus House Huntsville Alabama and graduated with honors as a Master of Science from Walden University on Friday, January 24th, 2025; he is a resilient and easygoing man of God

Having practiced as a psychiatric nurse practitioner for years and acquired a new degree, he has further solidified his professional standing

As an illustrious figure in Nigeria and America, Pastor Peter Oyediran is celebrated for his remarkable contributions to Nigeria’s development, peace, and the diaspora. His visionary leadership, established many decades ago, has made him a reference point amongst his contemporaries

His tireless endeavors within Christendom represented a crucial turning point in the evolution of his community and the parish, which he guided into an era of advancement

Pastor Peter’s developmental achievements transcended religion, as he also explored physical health and medical practice. He acknowledged the importance of education and economic empowerment and thus established a scholarship scheme and initiated a soft loan program to support women in petty trading.These initiatives established a foundation for sustained growth and improved livelihoods

Pastor Peter’s contributions are equally profound globally, and his pivotal role in Christendom is unmatched

The accomplishments of Pastor Peter continue to stand as a lasting testament to his dedication to progress and peace, leaving a lasting impact on his community, state, the African continent, and the world.

Warmest congratulations are in order for this exceptional and esteemed man of God.

Oluwaseun Fabiyi a seasoned journalist writes from Lagos

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Jailed for Snooping: Wife Faces Prison for Reading Husband’s WhatsApp Messages”

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Jailed for Snooping: Wife Faces Prison for Reading Husband’s WhatsApp Messages

Jailed for Snooping: Wife Faces Prison for Reading Husband’s WhatsApp Messages

 

In a case that has sparked heated debates, a young woman, Dumsile Dludlu, is set to serve up to three years in prison after being found guilty of breaching Swaziland’s strict Computer Crime and Cybercrime Act of 2022.

Dludlu was accused of unlawfully accessing her husband’s WhatsApp messages without his consent—a move that landed her in legal trouble under a law designed to protect individuals’ privacy in the digital age.

The Computer Crime and Cybercrime Act criminalizes any unauthorized access to a computer system or digital platform. Violations of this law carry harsh penalties, including fines of up to E500,000 (approximately R500,000) or imprisonment for up to five years.

Dludlu reportedly went through her husband, Samukeliso Matse’s, private WhatsApp conversations, prompting a domestic confrontation. During the altercation, Dludlu allegedly insulted her husband after uncovering messages that upset her.

“I did insult him, but it wasn’t as severe as what’s in the police statement,” Dludlu told the court, pleading not guilty to the charge of unauthorized access but admitting to the verbal altercation.

The case highlights the far-reaching consequences of the Computer Crime and Cybercrime Act, a law aimed at curbing unauthorized access to digital information. Critics argue that the law, though necessary to protect privacy, may be disproportionately punitive in domestic or minor disputes like this one.

The ruling has sparked a conversation about digital privacy and the boundaries of personal relationships in the digital age. Some have expressed support for the husband’s decision to pursue legal action, while others question whether such matters should be handled in court.

A New Era of Privacy

This case serves as a stark reminder of the importance of respecting digital privacy, even in close relationships. As more countries adopt stringent cybersecurity laws, individuals are urged to be mindful of accessing someone else’s digital devices or accounts without permission.

Dludlu’s sentencing is expected to set a precedent for similar cases under Swaziland’s new cybercrime law, drawing attention to the balance between protecting privacy and navigating the complexities of personal relationships.

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The Heart’s GPS: Coping with the Emotional Effects of Distance By Femi Oyewale

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Love Across Miles: The Psychological Toll and Triumphs of Long-Distance Relationships

 

Long-distance relationships (LDRs) are a unique test of love, resilience, and patience, often stirring up a whirlwind of emotions. While they can strengthen bonds and build character, they also present a range of psychological challenges. Here’s a closer look at how LDRs impact individuals—both positively and negatively.

The Heart’s GPS: Coping with the Emotional Effects of Distance By Femi Oyewale

The Struggles of Distance

Being apart from a loved one can feel like an emotional labyrinth, with many grappling with:

  1. Loneliness and Isolation: The absence of physical closeness can intensify feelings of solitude, particularly during life’s challenges.
  2. Anxiety and Insecurity: Distance may fuel doubts about the relationship’s stability, leading to worries about infidelity or fading commitment.
  3. Communication Strain: Misunderstandings can easily arise through text or video calls, creating emotional tension.
  4. Emotional Highs and Lows: The anticipation of reunions juxtaposed with the sadness of goodbyes often leaves individuals on an emotional roller coaster.
  5. Depression: Prolonged loneliness and stress may lead to depressive symptoms, affecting overall mental health.
  6. Adapting to Change: Partners may grow apart as they experience personal changes and milestones without each other’s immediate presence.

Silver Linings of Separation

Despite its challenges, an LDR can nurture personal growth and strengthen relationships in surprising ways:

  1. Sharper Communication Skills: Distance encourages partners to express themselves more openly and articulate their feelings effectively.
  2. Deeper Emotional Bonds: Without physical proximity, couples often rely on meaningful conversations and shared emotional intimacy to stay connected.
  3. Fostering Independence: Time apart allows individuals to pursue personal interests, careers, and friendships, fostering a sense of self-reliance.
  4. Cherishing Togetherness: Reunions become cherished moments, helping couples appreciate their time together more deeply.
  5. Focused Goals: Many long-distance couples set clear goals—such as closing the gap geographically—giving their relationship direction and purpose.

Navigating the Distance

Ultimately, the psychological effects of long-distance relationships depend on the couple’s approach. Open communication, trust, and mutual commitment are the cornerstones of thriving despite the distance. While LDRs can be emotionally taxing, they also offer opportunities for growth, resilience, and deeper connection.

Whether miles apart or side by side, love endures when both partners remain dedicated to weathering the journey together.

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