E-Financial
Stanbic IBTC Pensions Reiterates Commitment to Empowering Women
Stanbic IBTC Pensions has restated that it would continue to support career women on tools to balance career growth, family and wellness through its virtual Ladies at The Table Empowerment Series (LATTES).
Nike Bajomo, the Executive Director, Business Development, Stanbic IBTC Pension Managers, in her opening remarks at the LATTES webinar recently said: “The pandemic particularly impacted women as many of us had to balance our natural roles as nurturers with showing up every day to our jobs with our A-game intact, while dealing with all the challenges that came with the new normal.
At Stanbic IBTC, women’s empowerment is a priority. We consistently create avenues to help women grow and flourish. We believe that opportunities exist for every woman to thrive and blossom.”
Also speaking at the event, Group Chief Human Resources Officer, Interswitch Mrs Tolulope Agiri and Chief Executive Officer, Carib Health Limited Dr Sherese Ijewere, spoke on how women can attain career success.
Agiri stated that many factors, including family and societal issues, complicate the lives of women. According to her, women are judged by different rules when compared to men even when they are equally competent for certain roles.
She emphasised the need for women to have a strong support system in order to get ahead in their careers.
“What makes the lives of women complex is not just their lives but what is happening in the society. One of the major things that have been talked about is a support system, “the HR professional said.
She added that the support system is critical, be it people or technology.
“It is important to bring the men in your life into the conversation. The choice of a life partner in an important factor to consider for single women in order to excel in their careers.”
Agiri also advised women who are creating value in their places of work to make demands that will make their work easier.
“We need to start negotiating for ourselves. Find out how your employers can make your work easier. Women who aspire to be leaders should be more ambitious than before; act like managers in any position you find yourself. Work in synergy with your employers to make things work,” she said.
Ijewere, who spoke on the topic: “The Genius of the extraordinary Chromosome,” urged women to be intentional and attentive to what they eat and pay attention to the effect different kinds of food have on their bodies.
Advising women to live a healthy lifestyle, Ijewere said: “Good nutrition is self-care because our relationship with food has the ability to impact every aspect of you, yourself and who you are to others, it important to listen to the body.
“Whether you are caring for your skin, aging or you are treating a disease, you have to be intentional. No matter what age you are, seek the help of a health nutritionist,” she added.
She urged women to read ingredients before buying or using beauty products, and pay equal attention to what they eat.
“You can make self-care a part of your meals by loading your plate with fruits and vegetables, set an example for your household, use herbs and spices in your cooking, eat for your gut, increase your water intake and limit your intake of sugar. Include fruits and vegetables in your meal.
“As a woman, you are the pacesetter in the kitchen. Your healthy lifestyle will encourage your household and enable them to benefit health-wise. Watch what you eat, and also exercise,” she said.
Fidelity Bank Plc has reported a pre-tax profit of N385.2 billion for 2024, representing a 210 per cent growth compared to the N124.3 billion recorded in 2023.
Dr Nneka Onyeali-Ikpe, managing director/chief executive officer, Fidelity Bank Plc,
The bank, in a statement released on Monday, declared a total dividend of N2.10 per share following its strong financial performance in 2024.
Gross earnings increased by 87.7 per cent to N1,04 trillion, driven by a 106.9 per cent growth in interest and similar income to N950.6 billion.
The increase in interest income was attributed to improved yields on earning assets and a 51.6 per cent expansion in the earnings base to N6.3 trillion.
This led to a profit after tax of N278.1 billion, representing a 179.6 per cent annual growth.
Commenting on the results, Dr Nneka Onyeali-Ikpe, managing director/chief executive officer, Fidelity Bank Plc, expressed satisfaction with the growth.
“We are delighted with our 2024 full-year (FY) performance, which showed strong growth across key revenue lines, improved asset quality and significant traction in our strategic business segments.
“Our impressive results led to a triple-digit increase by 210 per cent in Profit Before Tax (PBT), rising from N124.3 billion in 2023 to N385.2 billion in 2024,” she said.
A further review of the financial performance revealed that the bank’s net interest income increased by 127.1 per cent to N629.8 billion, driven by a high-yield environment in 2024.
To optimise its margin, the bank maintained asset yields above funding costs by maintaining a high low-cost deposit profile at 92.6 per cent.
This led to an increase in its Net Interest Margin from 8.1 per cent in 2023 FY to 12.0 per cent.
Similarly, the bank continued to deepen its market share in both the corporate and retail segments, with customer deposits increasing by 47.9 percent from N4 trillion in 2023 financial year to N5.9 trillion.
The increase was driven by strong double-digit growth across all deposit types.
The Retail Banking Business gained significant traction, with savings deposits increasing by 28.8 per cent to N1.1 trillion, marking the 10th consecutive year of double-digit annual growth in savings deposits.
In spite of the challenging economic conditions in 2024, the bank continued to support the real sector of the economy by increasing its Net Loans and Advances from N3.1 trillion in 2023 to N4.4 trillion in 2024.
“This remarkable performance demonstrates our capacity to deliver superior returns to our shareholders.
“In line with our commitment to them, we have declared a final dividend of N1.25 per share, bringing our total dividend for the 2024 financial year to N2.10 per share,” Onyeali-Ikpe explained.
Having consistently paid dividends since 2006, Fidelity Bank will pay investors a total dividend of N2.10 per share for the 2024 financial year.
This is subject to shareholders’ approval at its forthcoming Annual General Meeting (AGM) on April 29, 2025.
The dividends will be paid on April 29, 2025, to shareholders whose names appear on the register of members as of April 15, 2025.
The bank successfully completed the first phase of its capital raising exercise through a Public Offer and Rights Issue in 2024, which were oversubscribed.
Securities and Exchange Commission (SEC), has warned promoters and operators of entities engaged in a prohibited scheme that they will be liable to a penalty of not less than N20 million or imprisonment to a term of 10 years or both under the newly signed Investments and Securities Act (ISA) 2025.
Dr Emomotimi Agama, director-general, SEC,
Dr Emomotimi Agama, director-general, SEC, said it is one of the provisions of the ISA 2025 recently assented to by President Bola Tinubu.
Agama said this in a statement in Abuja on Tuesday said the new Act would strengthen the legal framework governing Nigeria’s capital market.
Agama said the commission previously lacked the legal power to prosecute Ponzi scheme operators, which had made it difficult to bring offenders to justice.
He said the Act would help the commission to better protect investors, and introduce reforms that would promote market integrity, transparency, and sustainable growth.
”So, N20 million is not the entire penalty or the entire money that will be charged or sanctioned to any suspecting or any accused capital market or non-capital market operator.
”It is just part of the penalties and or the sanctions that will be meted against such persons.
”Any profits or gains obtained from defrauding Nigerians will be recovered because it is not about the quantum of the fraud, it is about sanctions that will deter people from even getting into it.
”We recognise that a lot of Nigerians have fallen prey to these schemes and the reason why that is the case is because there were no sanctions.
”Protecting the investors in Nigeria is a cardinal responsibility of SEC and this law has provided the SEC with stronger powers to be able to do that,” he said.
The director-general said the Act had also introduced transformative provisions to further align Nigeria’s market operations with international best practice.
ISA, 2025, had repealed the Investments and Securities Act No. 29 of 2007.
Credit: NAN
Nigeria’s newly signed Investment and Securities Act (ISA 2025) has empowered the Securities and Exchange Commission (SEC) to obtain user data from all telecom and electronic communication companies in Nigeria in the process of implementing the law.
Also, section 3(4)(j) of the Act allows the SEC to have access to the content of communication in case of any violation of the law.
This new provision is meant to empower the Commission to obtain phone, internet, and electronic records, which would immensely facilitate its investigation and enforcement process.
Emomotimi Agama, Director-General, Securities and Exchange Commission had said that the new Investment and Securities Act (ISA 2025) which President Bola Ahmed Tinubu recently signed empowered the SEC to prosecute promoters of Ponzi schemes with a possible sentencing to at least 10 years imprisonment.
Agama said, “With the new law, they now face a 10-year jail term and beyond”. In addition, he said anyone caught operating a Ponzi scheme in Nigeria would also be made to pay a N40 million penalty according to the law.
The SEC DG stated this on Tuesday during an Arise TV interview, where he spoke extensively about the new ISA. He noted that before now, the SEC had no legal backing to prosecute Ponzi scheme operators, adding that this had made it difficult to bring them to justice.
“The SEC shall have the powers to obtain subscriber records held or maintained by internet service providers, telephone service providers and other electronic communication providers located within Nigeria which identify subscribers, payment details and other relevant details including content of communication in connection with the violation or suspected violation of this bill or other securities laws, code and regulations,” it stated.
Nigeria’s new capital market laws now officially classify cryptocurrencies and other virtual assets as securities for the first time, in what would lead to greater transparency and increased investments.
President Bola Tinubu recently assented to the Investments and Securities Act (ISA) 2024, which repeals the Investments and Securities Act No. 29 of 2007.
The Act explicitly recognises virtual/digital assets and investment contracts as securities and brings Virtual Asset Service Providers (VASPs), Digital Asset Operators (DAOPs) and Digital Asset Exchanges under the SEC’s regulatory purview.
This means businesses dealing in digital assets must register with the SEC and comply with its guidelines, a crucial step in curbing fraudulent activities in the digital space while fostering trust and innovation in blockchain technologies.
Africa’s Data Workers are Being Exploited by Foreign Tech Firms – Report
NIMC Says NIN Mandatory to Government Loans
Fidelity Bank Reports N385.2Bn Pre-Tax Profit for 2024
FG to Create 1m Technology Jobs – Minister
Ponzi Operators Risk 10-Year Jail Term, N20m Fine – SEC
Telecom3 days agoMTN, Lynk Global Make Africa’s First Satellite-to-Mobile Call
E-Business3 days agoSystemSpecs’s Subsidiary Deelaa Becomes Whatadeal
E-Financial3 days agoNigeria Gets Fresh $500m World Bank Loan for Economic Stimulus Programme
General News3 days agoSERAP Asks National Assembly to Drop Bill to Jail Nigerians who Fail to Vote
E-Financial3 days agoUninsured Depositors of Heritage Bank to Receive Liquidation Dividends In April – NDIC
Telecom3 days agoSmart Treasure Investment Team’s Initiatives Eradicate Poverty, Says Aminu
Broadcasting2 days agoDStv Revenue Plunges as MultiChoice Loses Nearly 4m Subscribers
Telecom3 days ago15-Year-Old Autistic Artist, Kanye, to Unveil World’s Largest Art Canvas on Autism Awareness Day