NEWS
Zenith Bank Assures Shareholders of no Dilution in Combined Offering
Zenith Bank Plc has reassured its shareholders that its existing shareholding will remain unchanged during the bank’s ongoing combined offering.
Zenith Bank Plc’s Group Managing Director (GMD), Dr Adaora Umeoji, gave the assurance at the “Fact Behind the Combined Offer” event held at the Nigerian Exchange Ltd.
(NGX) on Monday in Lagos.Umeoji said that the bank was offering 65 per cent of its shares to existing shareholders and 35 per cent to the public to avoid diluting current holdings.
She said that Zenith Bank, on Aug. 1, launched a combined offering of eight billion units of shares to raise a total capital of N289.
4 billion, and set to close on Sept. 9.“A breakdown shows the shares offered shows that 5.23 billion units of shares of 50k each at N36 per share to its existing shareholders through a rights issue of one new share for every six held.
“We are also offering 2.77 billion ordinary shares of 50k each at 36.50 per share to the public through a public offer, in line with the Central Bank of Nigeria(CBN) recapitalisation directive to Nigerian banks.
“Again, 35 per cent of the proceeds realised from the ongoing combined offering will be used to fund the bank’s expansion strategy and increase its footprint in Africa and other parts of the world, ” she said.
Emeoji further said that 20 per cent of the fund would also be used to enhance the bank’s Information Technology (IT) infrastructure and digital capabilities.
The bank chief said that the balance of 45 per cent raised would be deployed as working capital to support the real sector of the economy.
“We are very confident that after the ongoing recapitalisation exercise, the bank will experience exponential growth, and shareholders will get greater value for their investment.
“Our dominant footprint in Nigeria, West Africa, and our international network presents exciting growth opportunities.
“We currently have subsidiaries and representative offices in Ghana, Sierra Leone, Gambia, UK, UAE and China; and we recently obtained a banking license to commence operations in Paris.
“We are going to leverage on the Paris subsidiary to consolidate our business in the African Francophone region starting from Cote d’Ivoire and Cameroon.
“All our subsidiaries are making good profit and contributing almost 20 per cent to the group’s performance,” she said.
According to her, the bank’s historical and current financial performance, as well as its prospects provide a compelling reason for investors to invest in it.
The GMD stated that the bank’s investment in its people, technology and service had transformed it into a global brand, and placed it among the top 10 banks in Africa and the best in Nigeria.
Umeoji added that in ranking, compared to its peers, and backed by facts and figures, Zenith Bank emerged the number one bank by Tier-one capital, shareholders’ funds, market capitalisation, profit before tax and in dividend payout.
She said: “As at the end of 2023 financial year, we paid a dividend of four Naira per share, making us the highest dividend paying bank in Nigeria.
“This trend has been sustained in the past five years. Our dividend payout was 25 per cent of our organic profit without Foreign Exchange(FX) revaluation gains.
“This implies that we have the
capacity to even pay more dividend organically without FX revaluation gains.
“The total assets of the bank stood at N20.4 trillion, while our total deposit liability stood at N15.2 trillion, placing us among the top three banks in this category.”
Accordingly to her, the bank recorded the largest loan portfolio of N7.1 trillion and NPL standing at 4.4 per cent, which is well below industry average.
” This shows our solid risk management capacity. Zenith Bank’s Tier-one capital was N1.9 trillion, indicating the highest in the Nigerian banking industry.
“Shareholders’ funds stood at N2.3 trillion, while we recorded a market capitalisation of N1.3 trillion Naira, which is also the highest in the industry.
“The Bank achieved PBT of N796 billion, making us the most profitable bank in Nigeria,” she added.
In his remarks, the Chief Executive Officer of the NGX Group, Mr Temi Popoola, commended the bank’s strategic use of funds to enhance its digital infrastructure and support its retail and corporate banking segments.
He noted that this aligned with NGX’s vision to expand its market presence and deliver superior value to investors.
The Chief Executive Officer of the NGX, Mr Jude Chiemeka, also commended the bank for its corporate governance, which contributed to the integrity of the market and attracted international investors.
Chiemeka emphasised that Zenith Bank’s listing on the NGX’s premium board signifies high corporate governance standards, reinforcing the bank’s reputation and fostering investor confidence.(NAN)
NEWS
Will new entrant, ESDIAC, ease Nigerians’ international call worries?
By David Torough
After decades of frustration in accessing telephone services, Nigerians were relieved when in 2001, the then President Olusegun Obasanjo took a decision that would later transform the nation’s telephone landscape and connectivity ecosystem.
In January that year, the regulator, the Nigerian Communications Commission auctioned GSM licences.
It was a good business for Nigeria’s economy as the Federal Government racked in excess of $1.2 billon having sold the licences to MTN, Glo, Econet (Airtel) and Etisalat 9mobile) at $208 million each.
By May that year, Econet had made history as the company to make the first GSM call Nigeria with MTN following later in August before the indigenous Globacom (glo) and the rest joined.
At a public event in Lagos Obasanjo juxtaposes the pre-GSM torture Nigerians went through and what is obtainable today: “People had to queue at telephone kiosks to make calls. It was a far cry from the seamless communication we enjoy today but then came the mobile telephone revolution.
“Needless to say that mobile communication has become a powerful tool for liberating Nigerians from the shackles of the once powerful, but now extinct, national telecoms monopoly, popularly known as the Nigerian Telecommunication (NITEL); it has significantly contributed positively in boosting economic activities in all sectors in Nigeria,” said Prof. Abiodun Musa Aibinu, a mechatronic engineer at Federal University of Technology, Minna.
According to data released by Global System for Mobile Communications Association (GSMA) there are approximately 192.2 million active telephony subscriptions as of mid-2026, with national teledensity reaching around 86.6% of the population.
The GSMA intelligence further estimates total cellular mobile connections at about 183 million (roughly 74.9% of the population), with broadband subscriptions standing at at 123.1 million, translating to a broadband penetration rate of the population.
However, in spite of its success story, challenges remain as acknowledged by Aibinu.
“There is increasing poor quality of service experienced by subscribers which manifests in the forms of: call failure, call drops, and low received signal strength. These problems have continuously been raising a great deal of worries and uncertainty among the populace and the network providers,” said the scholar.
However, one silent but major challenge faced by telephone subscribers in Nigeria both in the past and now remains the high cost of international calls.
Available data shows that on a standard Pay as You Go (PAYG) tariff, the rates range for international calls from N30 to N1,500 per minute depending on the destination of the call.
Mr Austine Ugbebor, Chief Executive Officer of ESDIAC, an indigenous new entrant into the Voice over Internet Protocol (VoIP) calls market says the platform was designed to address the challenges of expensive international calls and limited connectivity options, particularly for people travelling abroad, with promised international calls of as low as N13.000
He spoke at the unveiling and media engagement on Friday in Abuja, ESDIAC which, he said, integrates Voice over Internet Protocol (VoIP) calling, electronic SIM (eSIM), mobile airtime and data top-up services.
It is an all-in-one mobile platform designed to make international calls more affordable and improve connectivity for travellers, businesses and Nigerians both in the diaspora and at home.
ESDIAC was registered in 2011, with first product inaugurated in 2016, with the company spending the intervening years developing its operational structures and securing regulatory and compliance arrangements ahead of its market entry.
“ESDIAC is an all-in-one solution, offering international and local calls, eSIM services and data packages through a single platform.
“With our platform, subscribers can make calls to Canada, United Kingdom, US, Germany, Australia for as low as N13.
“ESDIAC’s VoIP technology enables subscribers to call people who do not have the ESDIAC application or an internet connection, and calls can be made directly to regular telephone numbers,” he said.
He said the service also allows users to retain their phone numbers when making calls, making it easier for recipients to identify callers.
The CEO added that the platform provided mobile airtime and data top-ups, while its eSIM service enabled travelers to access connectivity in supported destinations without necessarily purchasing a physical SIM card.
He further said that the company was committed to offering affordable services and improving the calling experience by addressing connectivity challenges associated with internet-based communication platforms.
On concerns about tariff stability and consumer protection, the CEO said the company had adopted a policy of respecting subscribers’ money by avoiding hidden connectivity charges.
“Subscribers will not be charged additional fees merely for initiating calls, and unused balances will remain available to customers.”
He said subscribers who believed they had been wrongly charged could contact the company’s customer service team for investigation.
“If you are right and there is an error, we promise to refund your money,” he said.
The CEO said ESDIAC operated under the regulatory requirements of the Nigerian Communications Commission (NCC) and the Federal Communications Commission (FCC) of the U.S.
He, however, noted that changes in telecommunications tariffs could sometimes result from regulatory directives, adding that operators were required to comply with applicable regulations.
As the highest policy level, addressing challenges faced by Nigerians on international calls is a priority and the Presidency has thrown its weight behind the ESDIAC project.
Mr Tope Fasua, Special Adviser to the President on Economic Matters, Office of the Vice-President, described the platform as a promising development for Nigeria’s telecommunications sector.
Fasua said his experience with an expensive eSIM purchased during an international trip, which failed to provide connectivity across all his destinations, underscored the need for more reliable and affordable services.
He expressed hope that ESDIAC would provide better value to travellers through its services.
One major area of concern for Nigerians is data protection. There is no area this is concern is more pronounced than in the telecom sector where Nigerians share their data with either deliberately or otherwise.
The company’s Legal Adviser, Mr Aja Nwaani, has allayed that fear saying the protection of subscribers’ personal information was central to ESDIAC’s operations.
“ESDIAC has put measures in place to ensure that subscribers’ information are not improperly accessed, disclosed or used, including when shared with third-party carriers and service providers,” he said.
He said the company was committed to complying with the Nigeria Data Protection Act and applicable regulations, warning against the unlawful sale or misuse of subscribers’ personal information.
Mr Muhammed Sani, the company’s Human Resources representative, said ESDIAC was established to address the high cost of international calls and connectivity challenges confronting Nigerians.
Sani said the platform was particularly useful to travellers and Nigerians seeking to maintain affordable communication with family members and business associates abroad.
He added that the company’s business solution was also designed to support organisations requiring reliable communication services.
The ESDIAC is another bold step by an indigenous entrepreneur. It aligns with President Bola Tinubu administration’s commitment encouraging private sector investment in the telecom industry and offering Nigerian’s wider telephone options.
“Sustained investment in telecommunications infrastructure is essential to expanding broadband access, improving network capacity, and supporting businesses, education, and economic opportunities across Nigeria,” the President said at a recent public event in Abuja.
Tinubu said the initiative aligns with his administration’s commitment to encouraging private-sector investing, improving digital infrastructure and ensuring Nigerians benefit from more reliable and accessible telecommunications services,” the statement quoted him as saying during the event.
NEWS
AHF Launches Comic Book on Menstrual Health Education in Abuja
From Attah Ede, Makurdi
The Aids Healthcare Foundation (AHF) Nigeria, has revealed that nearly 2 billion people menstruate, with 500 million experiencing period poverty globally.
The Foundation disclosed this during the unveiling of a magazine that focuses on the girl child’s menstrual education and hygiene in Abuja, Thursday.
The 26-page comic magazine, produced by the AHF, depicted the challenges that the girl child faces in Nigeria regarding menstrual education and the stigma attached to it in communities across the country.
The Foundation noted that one of the things needed to change the tide is the provision of easily relatable information that can attract attention of young women and girls.
It further stated that in many communities, taboos prevent open discussion about menstruation, limit access to accurate sexual and reproductive health information, and discourage people from seeking care.
Speaking during the event, Mr. Steve Aborisade, Senior Advocacy & Marketing Manager, AHF Nigeria, intimated that there is need to spread the awareness on menstrual education among the adolescence and young women in the country, especially with a view to removing the stigmatisation that has posed challenges to the campaigns over the years.
He insisted that addressing menstrual health must go hand in hand with efforts to normalize periods, which this book is set to achieve.
“This book takes readers through some salient issues in menstrual health management, particularly as it concerns access to accurate information and correcting the misinformation which is at the root of the stigma associated with menstruation in our society.
“The book provides the basic steps to keeping healthy and well during periods, while also making boys and men allies of menstrual health management.
“We reckon that the target audience for the comic magazine would find the message in it interesting and easily embrace it for their benefits and they too can help share the message accordingly,” Dr. Aborisade said.
The AHF Nigeria Country Programme Director, Dr. Echey Ijezie, who presided over the launch at the Abuja office, said efforts would be geared towards producing the magazine in many Nigerian languages in order to further broaden the core message to the targeted audience.
“It is imperative to ensure that our target audience are reached in no distant future. We would work with the Federal Ministry of Education and explore the outreaches to use them as education and awareness tools,” Dr. Ijezie said.
Mrs. Osaro Osa-Jarikre of the Child Development Department at the Federal Ministry of Women Affairs, who represented the Minister of Women Affairs, disclosed that the ministry would capture the AHF programmes in its elaborate policy to be launched soon, stressing that the ministry had found the foundation as a worthy partner in furthering the cause of the girl child in Nigeria.
“Our ministry has resolved to carry the AHF along in the various programmes we have designed for the girl child in Nigeria, and we are also ready to offer needed support to the foundation in its quest to upgrade the Nigerian young generation,” Mrs. Osa-Jarikre said.
Among those who attended the magazine launch include Dr. Charity Awunor, Nursing Manager, AHF; Dr. Ugochi Ajaero, State Clinical Coordinator, AHF; Binta Suleiman Jalo, Programme Officer, Kids & Teens Resource Centre, Abuja; Taiwo Ajani of the Lawyers Alert, Abuja; representatives of civil society organisations and members of the Girls Act.
NEWS
They Planted Juju in my Jacket at Davido’s House – Peruzzi
Singer Peruzzi has narrated how a charm was planted in his jacket during his stay at Davido’s house.
Peruzzi was signed to Davido’s record label, DMW, in 2017.
Davido dissolved the label in April 2024.
However, discussing his experience during his stay at Davido’s house, Peruzzi narrated how a charm was planted in his jacket.
Speaking in a video interview online, he said, “I took a shower one evening, like at 6 pm. Just a shower and then went to go and meet them back downstairs because I was chilling there before I went upstairs in David house when I was still living there.
“And then I was done taking the shower. I go to my wardrobe to get my clothes, and then one of my jackets is just telling me, ‘Pull me, wear me, wear me, wear me.’ I don’t know how to explain it, but I was just having the urge to wear it.”So, I carry am (the jacket), and something just dropped inside, and when I looked, it was jaz, better juju inside my room. A jacket that just came from the laundry.”


