Ogun State Governor, Prince Dapo Abiodun has ordered security agents to launch a massive manhunt for perpetrators of Sunday’s kidnapping along the Sagamu-Ijebu Ode Expressway.

Many people were reportedly kidnapped around the Area Command and Ilishan City Gate on the ever busy road by gunmen who ambushed them at about 9 pm.

Security sources said the kidnapping was an insider’s job as all the victims were foreign nationals who arrived the country the same day the incident occurred, adding that they were probably trailed to the location where the kidnapping took place.

Prince Abiodun, in a statement on Tuesday, said Ogun State will not be allowed to become a den for kidnappers, even as he promised that the perpetrators would be smoked out and punished.

The governor said all the security agencies, including the police, army, the Nigeria Security and Civil Defence Corp (NSCDC), Amotekun, So Safe Corps and local hunters are on the trail of the kidnappers with arrays of security gadgets, including drones.

He assured the people that their security is guaranteed as the present administration has committed so much to secure the state.

“Following Sunday’s kidnapping incident that occurred in Ilishan, we want to reassure all residents that decisive action is being taken to apprehend the perpetrators and ensure the safe return of the victims.

“The security forces have launched a comprehensive manhunt and are working tirelessly to track down the kidnappers. Additional security measures and patrols have also been deployed to the affected area and across the state to prevent any further incidents.

“We understand the concerns and anxiety this incident has caused, but we want to emphasize that Ogun State remains a safe place to live, work, and visit. The government is committed to maintaining law and order and will not relent in its efforts to protect the lives and property of all citizens,” Prince Abiodun said.

FirstBank’s 130 years of gripping history is a corporate handbook in many ways. Its fortunes are as great a lesson as its challenges. Its leadership and choice of leaders are fascinating chapters of the book it has become, validating the notion that each era in human history is shaped by the king of the moment. This is true across the corporate environment but uniquely applicable to Nigeria’s premier bank.

For its diffused ownership structure, its leadership is particularly dynamic, adding a great deal of variety to the journey. The confirmation of Olusegun Alebiosu as the new Chief Executive officer of the bank is seen as a consolidation of the rich culture of the bank. At a peculiar juncture in its 130 years of incorporation, the market has seen a new FirstBank that is ready to compete with the new entrants to recover the market it was holding in its grip as a monopolist.

The bank is consolidating on its adoption of the new ‘click’ banking through which it has invested heavily in digital infrastructure. The success Alebiosu helped to create at the corporate performance of Q1, the quarter heralding Alebiosu was particularly fascinating across top and bottom-line indicators. First, the bank’s total assets leaped by 28 per cent year-on-year to N20.7 trillion, while gross earnings rose by 178 per cent to N682.5 billion on the back of strong growth in the credit portfolio (which was 33 per cent up from December 2023). Non-interest income, which reflected the robust transactional platforms, doubled year-on-year to N224.6 billion compared with N110 billion it earned in Q1 of 2023.

The Chief Executive Officer also rode on powerful bottom-line indicators with profit before tax seeing exponential growth of almost 300 per cent to N209.8 billion and profit after tax growing in the same margin to N188.5 billion. These are not isolated figures but a reflection of a decade of robust performance of the banking group that feeds into the holding company that has become the toast of the investing public in recent years.

For one, FirstMobile, its digital banking application emerged as a household name in the financial technology ecosystem. In 2015, when the platform was still in its infancy stage, its user base was about 60,000, a figure that has soared to over six million as of last year. That has contributed immensely to changing the market’s perception of the institution as a traditional bank to an innovative digital bank.

Today, over 85 per cent of its transactions are initiated via digital platforms, according to insights provided by the bank. That suggests that while it consolidates on its hedge as a saver’s bank, it has also emerged as a transaction-driven bank. FirstMobile appears to have hit the bull’s eye in the bank’s reinvention drive and efforts to appeal to younger demographics. However, the platform is only one of the many telecommunications-driven initiatives the bank has innovated to get young depositors on board. FirstOnline has also grown in leaps in terms of users – from about 90,000 to over one million in less than a decade.

USSD banking, under the watch of the immediate past handler, is even more successful with users increasing by close to 3,000 per cent in the last eight years, to about 15 million. What USSD banking, which targets feature phone users and rural communities where internet penetration is still very low, has done for the bank is giving a slice of it to the original owners – rural dwellers and non-Internet natives who had never known any other bank than FirstBank.

The success of Firstmonie Agent Banking also validates its agelong popularity in rural areas. Last year alone, its Firstmonie Agent Banking services processed over ₦1.1 trillion in transactions, more than double the amount handled by seven other big banks. Its strategic investments in technology include the development of its interactive transaction banking platform known as FirstDirect2.0 and the introduction of the humanoid robot to the banking ecosystem in the country.

The smart banking initiatives have been complemented by its Digital Xperience Centres (DXC), which are currently located in Lagos, Ibadan, and Abuja with plans to open more across the country. Overall, its digital banking has evolved in both volume and public perception even with artificial intelligence-driven commercials complementing its digital imprints. Ease, convenience and reliability created in recent years have moved the customer base from 0.6 million in 2015 to well over 42 million customer accounts as of 2023. This number, according to the immediate past Chief Executive Officer, Adesola Adeduntan, would double in no distant future as the organisation migrates more aggressively to transaction-led banking.

Last year, its holding company earned N171.8 billion in income from fees and commissions, a 46 per cent year-on-year growth, demonstrating its success as a transaction-led bank. Its fee and commission income growth were not an exception but drew from impressive performances across the board. Its operating profit also jumped by 129 per cent, much higher than the industry average, to N361.8 per cent, leading to an earnings per share of N8.56k.

The total assets also saw a 60 per cent growth to N16.3 trillion. The total assets, like other metrics, had seen over 300 per cent expansion from 2015 when it was N4.2 trillion. FirstBank also experienced aggressive growth in its customer base in the past nine years. The figure has grown from 10.9 million to over 42 million customers, leading to the aggressive growth of fee and commission income of the bank.

Culled from Guardian

As Benue speaker’s wife  hails Alia, Tinubu’s leadership

By Titus Atondu, Makurdi

Benue State Governor, Rev. Fr. Dr. Hyacinth Iormem Alia has enjoined Benue women to take advantage of the Renewed Hope Initiative from office of  the First Lady of Nigeria, Sen. Oluremi Tinubu to improve the standard of  their lives and families.

Alia gave the charge on Saturday, at IBB Square, Makurdi during the official flag off of the Project 774 Explode, an empowerment initiative from the office of the Women Leader of the All Progressives Congress (APC) Hon. Dr. Mary Idele Alile.

The Governor acknowledged the role of women in the election that brought him on board as the  Governor of the  State, assured that his administration will continue to promote gender sensitive reforms that will facilitate women’s direct engagement in decision making in the state.

He appreciated the First Lady of Nigeria, Sen.  Oluremi Tinubu for her continued support, disclosed that 50 Benue citizens  are on scholarship, food palliatives and many other assistants  given to Benue State through her Renewed Hope Initiative.

He  expressed profound gratitude to the national woman Leader of APC,  for chosen Benue State as a suitable destination to flag off her 774 Explode.Project.

The governor maintained that  Benue women will continue to queue into the policies and ideologies of President Tinubu’s administration and added his voice to the call by the National Woman leader of APC for Benue women to come out in their numbers to  contest for political positions in the next general elections.

He offered 23 selected women one from each Local Government Area for free skills acquisition training in any field of their choices and promised to give each a grant of five hundred thousand naira to start a business, even as he said his administration was conscious of the 774 Explode initiative  he would continue to support programs that would empower women in the state.

In her address, the APC National Woman leader, Dr. Mary Idele Alile acknowledged the pragmatic leadership of the state Governor,  described  him as a champion of transformation.

She outlined the benefits of 774 Explode to women in Nigeria, thanking Benue women for turning out en masse to embrace the program.

In his keynote address, Hon. Denis Dzawua enlightened women on gender inclusiveness in politics and called on Benue women to come out and participate in the forthcoming local government elections.

The Special Advisor to the Governor on Women Affairs, Hon. Scholastica Ben-sor, explained that women huge presence at the occasion was a sign that Benue Women were all out to embrace the initiative of the APC National Woman leader.

The State Acting Chairman of APC, Hon. Benjamin Omakolo while delivering his goodwill message said Benue APC under the leadership of Governor Alia is very proud of the good work that President Tinubu is doing and they were solidly behind him.

The wife of the Honourable Speaker, of the 10th Benue state house of Assembly, Hon. Mrs. Kundumiyol Aondona Dajoh, in her good will message, lauded the initiative of the APC National Woman Leader which according to her has direct bearing on the lives of Benue women and the country at large.

Mrs. Dajoh thanked Mr. President and his amiable wife for having the plight of  women at heart and implementing policies and programs that would better the lives of Nigerian women.

She also thaked the executive Governor of Benue state Rev. Fr. Dr. Hyacinth Iormem Alia for bringing lasting succour to Benue women and the state at large, described his uncommon leadership disposition that has the plight of the common people at heart as commendable.

She described the APC National Woman Leader  appointment as a round peg in a round hole that is making Nigerian women proud.

Nigerian NewsDirect reports that the state women’s personalities present at the occasion were; the Commissioner for Women Affairs, Hon. Ann Itoto represented by Eunice Tachia, the wife of the Deputy Governor of Benue State, Christie Ode, and wife of Speaker of Benue State House of Assembly, Hon. Cynthia Kundumyol Dajoh.