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Business

Man kills seven-year-old son for stealing in Rivers

Published

7 years ago

May 22, 2017

Sahara Weekly

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The police in Rivers State have arrested one Richard Inimgba, for killing his seven-year-old son over alleged stealing.

The suspect, a resident of Amadi-Ama in Port Harcourt, had accused his son, George Inimgba, of stealing N3,200 on Friday and reportedly used a cutlass to inflict cuts on the victim after beating him up with a plank.

George was found dead the following morning.

PUNCH Metro gathered that George’s stepmother, Blessing Inimgba, was also arrested by the police for failing to rescue the boy.

It was learnt that Richard had wanted to keep George’s death a secret, but for a carpenter who raised the alarm on sighting the injuries on the boy.

Richard was said to have secretly invited the carpenter into his apartment to prepare a coffin for his burial.

Some neighbours and relatives of 39-year-old Richard, popularly known as Oyinbo, told one of our correspondents that he had been maltreating the boy since he sent his mother packing six years ago.

The wife of Richard’s elder brother, who simply identified herself as K.K., said George requested water at the point of death, but the father continued the beating.

She said the boy’s attempts to explain that he used part of the money to feed himself because he was hungry fell on deaf ears.

She said, “He beat the boy for about two hours. My husband was not around. The boy was crying and saying, ‘Daddy, give me water, I can’t walk again.’

“The boy was saying ‘Sorry Daddy’ and the man continued to ask, ‘Where is the money?’ But the boy said he was hungry and used the money to buy bread. He accused the son of stealing N3,200 from him overtime.

“The boy was always hungry and if he came to my house to eat, the stepmother would report him to the father.

“He went to his church to tell the pastor that his child was dead without explaining what led to the little boy’s death. It was when the carpenter raised the alarm that the neighbours knew that he had killed his son.

“There were machete cuts on George’s body. Some angry boys came out and gave Oyinbo the beating of his life before a team of mobile policemen arrested him and his wife.”

A neighbour, who did not want her name mentioned, said Richard was arrested last year after he burnt George’s hand in the stove.

She said, “He was arrested, detained for three days and was made to write an undertaking. It was at that point that the boy started going to school for the first time.”

A psychologist, Sri George, who first shared the story on Instagram, said he had met with George on the street on Tuesday as people rallied round him after he was caught stealing a snack on the way to school.

He wrote, “What a cruel world. Last Tuesday, between the hours of 8am to 9am, I saw a crowd of people around my vicinity gathered around this little boy. So, I stopped by and inquired what happened.

“They told me that this little boy on his way to school, stole a doughnut from a shop.

“The people whom he stole the doughnut from even gave him more of it and a bottle of drink and asked him to go.

“They all claimed that his father and stepmother have the habit of starving and beating him up on a daily basis. I saw so many scars on his body.

“I took the boy to my house, interviewed him, and he told me how he had been suffering since his mother left his father.

“I gave him some biscuits, asked him to come and eat at my place anytime and promised to see his father this week before he left for school, only to learn this morning (Saturday) that his father has beaten him to death.”

The Rivers State Police Public Relations Officer, Nnamdi Omoni, said the matter was being investigated, adding that the man and the wife were in police custody

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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

11 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

13 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

20 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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