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Wakanow collaborates with Dana Airlines as a strategic distribution partner to provide real time access for Flight bookings

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Press Release: Press Release: Wakanow collaborates with Dana Airlines as a strategic distribution partner to provide real time access for Flight bookings

Wakanow collaborates with Dana Airlines as a strategic distribution partner to provide real time access for Flight bookings

 

By Olorunfemi Adejuyigbe

 

Press Release: Press Release: Wakanow collaborates with Dana Airlines as a strategic distribution partner to provide real time access for Flight bookings

L-R (0S8A5824) – Head, Marketing and Communications, Dana Air, Kingsley Ezenwa; Deputy Chief Executive Officer (DCEO) of Dana Air, Sukhjinder Mann; Chief Commercial Officer (CCO) of Wakanow, Mrs. Adenike Macaulay and Chief Executive Officer (CEO) of Wakanow, Mr. Adebayo Adedeji during the courtesy visit of the Wakanow team to Dana Air to commence the partnership of both organizations at Dana Air office at MMA2 on Friday

 

13th June 2022, Lagos, Nigeria: Wakanow, Africa’s leading travel tech company, has collaborated with Dana Airlines, a fully private sector-owned carrier in Nigeria, it is expected that Wakanow will deliver real-time inventory and continuous flight schedules 24/7. By virtue of this partnership, Wakanow is the only official online travel agency with Dana Airlines Nigeria’s Live Inventory bookable in real-time thus enabling the delivery of a seamless booking experience for Wakanow customers and Dana Airlines passengers to provide global standard in customer experience to the teeming customers of the airline.

 

 

 

In his speech at the commencement of this partnership, Mr. Adebayo Adedeji, CEO of Wakanow, said, “Wakanow is expected to bring in another differentiator to the Nigerian travel industry as we begin this collaboration with Dana Airlines. With this partnership, we are poised to change the face of domestic travel for Nigerian travellers and other tourists from across the world. We would bring our topnotch expertise to bear so that this collaboration will be a case study across the aviation industry.”

According to him, “The aviation industry is undergoing changes that will delight travelers and will bring a boost to the quality of service provided to the travellers. With Wakanow, Nigerians will continue to have bespoke services and superior customer experience across all our touchpoints for Dana Airlines.”

 

 

 

 

 

 

 

 

In her words, the Chief Commercial Officer of Wakanow, Mrs. Adenike Macaulay said, “This integration with DANA Airlines will unlock an expanded domestic inventory selection for our customers making Wakanow the one stop shop for domestic travel bookings in Nigeria. Our expertise in the travel industry will be brought to the fore in exceeding customers’ experience with Dana Airlines bookings. She noted, “Our workforce is ready to support Dana Airlines in surpassing customers’ expectations.”

 

According to the DCEO of Dana Air, Sukhjinder Mann, Dana Air is a leading brand in the aviation industry and we are committed to partnerships that will be beneficial not just to the industry but to our teeming guests.

 

 

 

 

 

 

 

 

 

 

Our collaboration with Wakanow is to create seamless, real-time booking options for our guests across the world and there are a lot of these partnerships in the works as part of efforts to continue to exceed the flying aspirations of our guests with improved customer experience.”

Wakanow has become renowned for her support to local and international airlines and enhancing the Nigerian aviation industry with distinct products and services. The travel tech company is built to cater to all the travel needs of travel enthusiasts from flights, hotels, holiday experiences, visa processing, COVID-19 tests, among other offerings for Nigerian travellers. As an indigenous African travel industry leader, Wakanow was a part of the 10th Aviation Stakeholders Convention that took place in Nairobi, Kenya recently.

 

 

 

 

 

 

 

About Wakanow.com
Wakanow is Africa’s foremost travel tech agency and offers the best travel deals and experiences. Wakanow is built to cater for all of the travel needs of travel enthusiasts from flights, hotels, holiday experiences, visa processing, COVID-19 tests, among other offerings.
Wakanow’s central focus is its customers and every product and package is created with that at the forefront. With an increasing presence across Africa, Wakanow is poised to ensure that Africans have the best travel experiences and also be at the forefront of showcasing the African beauty, heritage and culture to the rest of the world.

You can access and book amazing flight deals by visiting www.wakanow.com

 

 

About Dana Airlines
The Dana Airlines Limited operating as Dana Air is a fully private sector-owned carrier. The airline commenced flight operations on 10 November 2008 and has since its inauguration progressively developed a route network bringing convenience and choice to the flying public.

 

 

Committed to improving the well-being of customers in all product offerings, Dana Air is focused on bringing to Nigerians, an aviation service that combines the best elements of legacy carriers – world-class safety and quality on-board services coupled with the latest technology (online services) and operational efficiency of new-age carriers.

 

 

 

 

 

 

 

 

 

 

With superior performance, service, and creativity, Dana Air is uncompromising in its commitment to excellence and safety as it is currently the only Nigerian carrier to have successfully undergone an operational audit conducted by the Nigeria Civil Aviation Authority Flight Safety Group in partnership with their foreign counterparts.

 

 

 

Dana Air is resolute in adhering to globally recognized safety standards and it is consistently reviewing its products and services to offer better solutions aimed at passengers’ comfort, safety as well as striving to build long-lasting relationships.
From its hub at the Murtala Mohammed Airport Terminal 2 (MMA2), Dana Air is one of Nigeria’s leading airline with a varied fleet of 9 aircraft and daily flights from LAGOS to Abuja, Port Harcourt, Owerri, and Enugu.

 

 

 

 

 

In addition to the scheduled flight operations, Dana Air also offers Executive Charter Services
For more information about Dana Airlines, please visit https://flydanaair.com/

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PRESIDENT TINUBU CONGRATULATES DR ADEDUNTAN, AS FIRST BANK CELEBRATES EX-GROUP CEO

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PRESIDENT TINUBU CONGRATULATES DR ADEDUNTAN, AS FIRST BANK CELEBRATES EX-GROUP CEO

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU CONGRATULATES DR ADEDUNTAN, AS FIRST BANK CELEBRATES EX-GROUP CEO

President Bola Ahmed Tinubu congratulates Dr Adesola Adeduntan, the retired Group Chief Executive Officer of First Bank Nigeria Limited, for his exceptional service at Nigeria’s oldest bank.

In celebration of Adeduntan’s remarkable tenure, the 130-year-old First Bank will host a special send-off ceremony this weekend, expressing gratitude for his contributions over the past nine years.

President Tinubu commends him for steering the bank through transformative growth, which includes expanding customer accounts from 10 million to over 42 million and elevating Profit Before Tax from N10 billion in 2015 to an impressive N300 billion in 2023.

These milestones, the President said, reflected Adeduntan’s visionary leadership and commitment to excellence.

The President expresses his appreciation for Adeduntan’s willingness to serve the nation in various pivotal roles, including his contributions to the Nigerian Economic Summit Group and other prominent institutions. His extensive expertise in the financial sector has significantly bolstered Nigeria’s economic landscape.

President Tinubu also lauds the bank’s solid internal management ethos, which is responsible for the seamless transition from Adeduntan to the current CEO, Olusegun Alebiosu.

President Tinubu wishes Dr. Adeduntan continued success in all his future endeavors.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)

November 1, 2024

 

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ZENITH BANK DELIVERS REMARKABLE TRIPPLE-DIGIT GROWTH IN GROSS EARNINGS AS PBT HITS N1.0 TRILLION IN Q3 2024  

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Zenith Bank Enhances E-Channel Services for Customers

ZENITH BANK DELIVERS REMARKABLE TRIPPLE-DIGIT GROWTH IN GROSS EARNINGS AS PBT HITS N1.0 TRILLION IN Q3 2024

 

Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2024, recording a remarkable triple-digit growth of 118% from N1.33 trillion reported in Q3 2023 to N2.9 trillion in Q3 2024. This performance underscores the Group’s resilience and market leadership in spite of the challenging macroeconomic environment.

 

According to the Bank’s unaudited third quarter financial results presented to the Nigerian Exchange (NGX), the triple-digit growth in the topline also led to an increase in the bottom line, as the Group recorded a 99% Year on Year (YoY) increase in profit before tax, growing from N505 billion in Q3 2023 to N1.0 trillion in Q3 2024.  Profit after tax equally grew by 91% from N434.2 billion to N827 billion in the same period.

 

The growth in the topline was driven by the expansion of both interest income and non-interest income. Interest income saw a notable 190% rise to N1.95 trillion, attributed to the high-yield environment. Non-interest income rose by 41% to N856 billion, bolstered by substantial growth in fees and commissions, which highlights the strength of Zenith Bank’s retail growth and the robust performance of its digital channels during the reporting period. The robust increase in profitability reflects the Bank’s focus on operational efficiency and strong risk management practices. Earnings per share (EPS) nearly doubled, rising to N26.34 from N13.82 in Q3 2023, underscoring Zenith Bank’s strong value creation for shareholders.

 

The Bank’s balance sheet grew significantly, with total assets growing by 49% to N30.4 trillion, largely supported by customer deposits, which rose by 42% to N21.6 trillion. This growth in deposits was broad-based across corporate and retail segments, highlighting the Bank’s deepening reach and customer loyalty. Gross loans increased by 46% to N10.3 trillion, underscoring the commitment to supporting strategic sectors in the economy.

 

Capital adequacy ratio remained strong, improving to 21.9%, well above regulatory requirements. The return on average equity (ROAE) stood at 37.8%, up from 35.1%, while return on average assets (ROAA) also improved to 4.3% as Zenith Bank maximized its asset base. Cost of funds increased to 4.3%, reflecting the broader market trend of rising interest rates, while the cost of risk was maintained at 7.3%, underscoring the Bank’s proactive approach in provisioning for credit risk. The Bank’s cost-to-income ratio rose to 39.5%, reflecting the impact of strategic investments in technology and capacity building aimed at supporting long-term growth, even as it continues to strive for greater operational efficiency.

 

Zenith Bank’s asset quality remains a cornerstone of its strength, with a non-performing loan (NPL) ratio of 4.5%, within regulatory limits. A high coverage ratio of 198.4% underscores the Bank’s disciplined approach to risk management, positioning it for resilience in the face of market volatility while supporting stable loan growth.

 

Zenith Bank remains steadfast in its commitment to sustainable growth and value creation. The Bank launched a capital raise program on August 1, 2024, consisting of a combined Rights Issue and Public Offer. This capital raise was driven by the Central Bank of Nigeria (CBN)’s recapitalization directive for commercial banks issued in March 2024. While the Bank awaits final capital verification approvals from authorities, the fundraising exercise was successful, reflecting strong confidence in Zenith Bank’s brand.

 

The additional capital will enhance the Bank’s ability to expand its product offerings, deepen its penetration in strategic sectors, boost lending to the real sector and pursue its African and global expansion plan.  In furtherance of this, the Bank in September 2024 received regulatory approval for the establishment of a Zenith Bank branch in Paris, France, which is fully operational and will enhance the Bank’s product offerings in international markets.

 

With a strengthened capital base, Zenith Bank is well-positioned to navigate the evolving economic landscape, while putting best-practice sustainability standards at the heart of its business. The Bank will also continue to prioritize opportunities that enhance stakeholder value and a strong compliance and corporate governance culture, which will reinforce the its leadership position within Nigeria’s financial sector and drive long-term growth.

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IPMAN: Setting the Record Straight

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Fueling Uncertainty: Investigating Nigeria's Subsidy Removal And Dangote Refinery Debacle* By Sylvester Audu

IPMAN: Setting the Record Straight

 

The Dangote Petroleum Refinery wishes to clarify that it has not received any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) to purchase refined petroleum products.

IPMAN: Setting the Record Straight

Although discussions are ongoing with IPMAN, it is misleading to suggest that they (IPMAN Members) are experiencing difficulties loading refined products from our Petroleum Refinery, as we currently have no direct business dealings with them. Consequently, we cannot be held responsible for any payments made to other entities.

The payment in mention has been made through the Nigerian National Petroleum Company Limited (NNPCL), and not us. In the same vein, NNPCL has neither approved, nor authorised us to release our Premium Motor Spirit (PMS) to IPMAN.

We would like to emphasise that we can meet the nation’s demand for all petroleum products, including petrol, diesel, and aviation fuel. At present, we can load 2,900 trucks per day and we have also been evacuating petroleum products by sea. We advise IPMAN to register with us and make direct payment as we have more than enough petroleum products to satisfy the needs of their members.

Furthermore, we believe it is instructive for all stakeholders to refrain from making unfounded statements in the media, as that could undermine the economic re-engineering efforts of His Excellency, President Bola Ahmed Tinubu. Conducting business through public speculation is counterproductive and unpatriotic.

In the interest of our country, we encourage all stakeholders to collaborate and heed the advice of President Tinubu, while promoting a unified approach, rather than engaging in media conflicts and needless propaganda.

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