By David Torough, Abuja

Zenith Bank Plc has assured its teeming customers of exceptional service delivery and improved customer experience following the successful completion of its Information Technology Infrastructure Upgrade.

The Group Managing Director/Chief Executive of the bank, Dr.

Adaora Umeoji in a statement expressed her immense gratitude to all customers of the bank for their patience and support during its recent IT infrastructure migration to a new and more robust operating system.

Umeoji emphasized that the bank was committed to delivering unparalleled service experience, saying “We undertook such an extensive endeavor in other to better position Zenith Bank Plc for improved service delivery to all our valued customers and provide memorable banking experiences at all our touchpoints,” adding that the bank now has one of the best technology infrastructure in the Nigerian banking industry, and is well positioned to ensure customers experience exceptional service delivery going forward.

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.

The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

The bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 15th consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria 2023 and 2024 in the International Banker Banking Awards.

Further recognitions include being recognised as Best Bank in Nigeria for the fourth time in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for three consecutive years, from 2022 to 2024, ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021; Bank of the Year for 2023 and 2024, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best

Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

By David Torough, Abuja

The death of the Chief of Army Staff (COAS), Lt. General Taoreed Lagbaja has thrown the nation into mourning, casting a heavy pall over official functions at the Presidency and the security services.

The Presidency yesterday announced Lagbaja’s death following what many attributed to his protracted battle with cancer.

A statement by presidential spokesman, Bayo Onanuga, said Lagbaja, 56, died on Tuesday night in Lagos, “after a period of illness”

“President Bola Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time.

He wishes Lt. General Lagbaja eternal peace and honours his significant contributions to the nation,” the statement read.

According to the statement, Lagbaja, who was appointed Chief of Army Staff on June 19, 2023, demonstrated exceptional leadership and commitment throughout his service.

He had previously served as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion among other sensitive positions.

Incidentally, President Tinubu had, last weekend Wednesday, appointed Major General Olufemi Oluyede as the acting Chief of Army Staff, to stand in for Lagbaja who had been away on medical treatment.

The President had, last Tuesday, gone ahead to decorate Oluyede as Lieutenant General, deepening speculations that Lagbaja was not being expected back anytime soon.

Following the death of the late COAS, the Presidency postponed the weekly Federal Executive Council (FEC) meeting scheduled for yesterday in honour of the fallen COAS.

The President also directed that Nigeria’s national flags be flown at half-mast across the country for seven days.

The Ministry of Defence (MOD) was also caught in the sombre atmosphere. A joint statement mourning the demise of the COAS was issued by Minister of Defence, Mohammed Abubakar; Minister of State for Defence, Bello Matawalle; and the ministry’s Permanent Secretary, Ibrahim Kana.

The MOD expressed shock over the sad news recalling Lagbaja’s contribution to the Army and his dedication to duty.

The statement said, “He exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed in no small measure to the internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military and the nation as he served the nation with commitment and dedication.”

Similarly, there was palpable grief at the Defence Headquarters over the loss with the leadership expressing deep sorrow of the development.

It noted that the COAS, until his death, demonstrated exemplary leadership. He was credited with spearheading the establishment of the Nigerian Army Aviation Wing and also playing critical roles in multiple military operations across the country.

On its part, the Nigeria Police Force announced the cancellation of all non-essential personal and social engagements for two days. The Force also suspended non-urgent commitments in honour of the late COAS.

In a statement by Force spokesman, Olumuyiwa Adejobi, the police authorities described Lagbaja as a highly respected figure, known for his tireless efforts in combating insurgency, armed banditry, and violent extremism.

“His dedication to the Nigerian Army and the nation earned him great admiration. The Inspector-General’s gesture reflects the deep respect and appreciation for General Lagbaja’s remarkable service.

“The Nigeria Police Force extends its heartfelt condolences to Mr President and Commander-in-Chief of the Armed Forces of Nigeria, President Bola Ahmed Tinubu, and General Lagbaja’s family, colleagues, and loved ones during this difficult time. His legacy and commitment to Nigeria’s security will never be forgotten,” the statement said.

By Tony Obiechina, Abuja

The Federal Government said it was determined to reverse the country’s negative assets liability which stands at N39trn.

The Accountant General of the Federation (AGF), Dr. Oluwatoyin Madein disclosed this on Tuesday at a one-day sensitization workshop on National Assets Register and the Strategic Importance of Legacy Asset Rendition in the Implementation of International Public Sector Accounting Standards (IPSAS) Accrual basis Accounting in Nigeria held in Abuja.

The workshop with the theme: “Legacy Assets Rendition and Preparation of Stand-Alone Financial Statements by MDAs was organised by the OAGF for directors of finance, internal audit and heads of accounts of Ministries, Departments and Agencies (MDAs).

She said the reason it appears as though Nigeria has more liabilities than assets is because the country has not been able to collate, evaluate and place value on the assets of the federal government.

She said that Nigeria adopted IPSAS accrual accounting with effect from 1st January 2016 but till date many legacy assets have yet to be recognized, measured and uploaded.

“Consequently we still have huge negative net assets in our 2021 consolidated financial statements which stood at N39 trillion,” she said.

Madein said the strategic importance of legacy asset rendition cannot be overstated. But unfortunately, the pace of rendition by MDAs has been disappointingly slow. “This delay hampers the timeliness and accuracy of the consolidated financial statements and significantly impacts our ability to address the net asset deficit as expected.

She said the federal government has decided to build a National Asset Register (NAR), that will capture all the assets owned by the government, including buildings, land, roads constructed by government, hospitals, schools, equipment and many others.

“We need to take a good inventory of these assets. The financial statement the federal government gives must be accurate, comparable and useful,” she said, adding that the financial statement needs to be useful because donor groups, investors and other international organisations that are interested in the Nigerian economy need to see the value of the country.

According to her, “Legacy asset management represents a pivotal tool for strengthening our fiscal position and alleviating our budgetary pressures.

“By systematically cataloging and valuing legacy assets, MDAs can unlock substantial value that would otherwise remain dormant.”

She warned that her office will initiate measures to enforce compliance, adding that sanctions will be applied to non- complying MDAs that continue to delay these critical renditions.

The AGF gave a deadline of December 31 2024 for all MDAs to submit their stand-alone financial statements which are in three parts: statement of financial position, statement of financial performance and cash flow statement.

“We need that so that by the time we will be presenting the federal government account for 2024 we will be able to shift from a financial statement that we always get negative assets to the one that will have positive assets, meaning that our assets will be over and above our liabilities,” she further stated.