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Business News

Sterling Bank’s CEO announces date for dividends payment to shareholders

The Chief Executive Officer of @Sterling_Bankng, Abubakar Suleiman (@suleimana), has disclosed a new timeframe for the payment of dividends to the lender’s shareholders after the company failed to pay for the year 2018.

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virtus, Sterling Bank announces an appointment

The Chief Executive Officer of Sterling Bank Plc, Abubakar Suleiman, has disclosed a new timeframe for the payment of dividends to the lender’s shareholders after the company was unable to pay for the year 2018.

Suleiman said the company will ensure payment is made next year 2020, assuring that measures have been taken to fulfil Sterling Bank‘s responsibility to its shareholders. The company held its 57 Annual General Meeting (AGM) at the Eko Hotel & Suites, Victoria Island, Lagos, during which the CEO made the disclosure.

In his assertion, Suleiman expressed optimism regarding the payment of the dividends.

“Your bank has provided strategy and by next year, we assure that the dividend will start to come.” -Suleiman

Unclaimed Dividend Warrants and Share Certificates: The company also announced that dividend warrants and a number of share certificates have been returned to the Registrars as “unclaimed”. According to Sterling Bank Plc, any member affected by this notice should contact the Registrar, Pace Registrars Limited.

Sterling Bank Plc is not the only bank that didn’t pay dividends for the year ended December 2018. Another lender, Ecobank Transnational Incorporated, also failed to make payments to shareholders during the period under review.

Sterling Bank’s gross earnings hits N152 billion in FY 2018: Nairametrics had earlier reported the financial statement of Sterling Bank, which disclosed that its gross earnings increased from N133 billion in 2017 to N152 billion in 2018. Also, the company’s Profit before tax rose from N8.1 billion in 2017 to N9.4 billion in 2018, while the Profit after tax rose from N8 billion in 2017 to N9.2 billion in 2018. Meanwhile, the Earnings per share rose from N0.28 in 2017 to N0.32 in 2018.

Sterling Bank signs deal with American energy company: Recall thatSterling Bank  Plc had inin March 2019, signed a Memorandum of Understanding (MoU) with an American renewable energy company, Zola Electric, to provide credit facilities for Nigerian businesses and households in need of constant and clean power supply. The renewable energy company will avail Nigerians access to renewable energy solutions, while Sterling Bank Plc will finance the process by providing loans to customers for the transactions.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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    Coronavirus

    Covid-19: WHO approves China’s Sinopharm vaccine

    WHO has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.

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    Covid-19: First world nations oppose waiving intellectual rights for vaccine development

    The World Health Organization (WHO) has announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination.  The vaccine is reported to have 79% efficacy against covid.

    This was disclosed today in a report by Reuters. The vaccine would also be the second Chinese-made vaccine after Sinovac vaccine and would be the first developed outside Europe and North America to receive WHO accreditation.

    “This expands the list of COVID-19 vaccines that COVAX can buy, and gives countries confidence to expedite their own regulatory approval, and to import and administer a vaccine,” WHO Director-General, Tedros Adhanom Ghebreyesus said.

    The WHO added that the easy storage requirements make it highly suitable for low-resource settings.

    “Its easy storage requirements make it highly suitable for low-resource settings,” a WHO statement said while also disclosing that the vaccine has been approved for people above the age of 18 to receive two shots.

    “On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks,” the statement added.

    The vaccine was created by Beijing Biological Products Institute, a subsidiary of Sinopharm subsidiary China National Biotec Group, with an efficacy of 79% for all age groups.

    The WHO however, admitted that few older adults (over 60 years) were enrolled in clinical trials, so efficacy could not be estimated in this age group.

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    The quest for vaccine efficiency got a major boost earlier this week as Nairametrics reported that the United States government announced that it supports the waiver of Intellectual Property Protections on Covid-19 vaccine development, in a bid to boost the fight against the pandemic, and says it will participate in the Okonjo-Iweala-led WTO negotiation to make it happen.

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    Obituaries

    “Mama Taraba”, Former minister and senator, Aisha Al-Hassan is dead

    Ex-Women Affairs minister, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead

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    A former Minister for Women Affairs and ex-Governorship Candidate in Taraba State, Aisha Jummai Al-Hassan, popularly known as Mama Taraba is dead.

    According to media reports she died in a hospital on Friday in Cairo, Egypt at the age of 61.

    Al-Hassan, who was a former senator of the Federal Republic of Nigeria from Taraba North Senatorial District, was the All Progressive Congress (APC) Governorship Candidate for Taraba in the 2015 general elections.

    READ: Abba Kyari’s last letter to President Buhari

    She later contested for the same seat on the platform of the United Democratic Party in the 2019 general elections after resigning from APC and as a minister in the administration of President Muhammadu Buhari on July 27, 2018.

    The former senator was born on the 16th of September, 1959 in Jalingo, Taraba State, to Alhaji Abubakar Ibrahim, Sarkin Ayukan Muri.

    READ: Chad’s President Deby dies of injuries suffered on the frontlines, as son takes over

    Aisha Jummai Al-Hassan attended Muhammed Nya Primary School, Jalingo and LEA Primary School, Tudun Wada, Kaduna before proceeding to Saint Faith College (now GGSS) Kawo Kaduna where she studied between January 1973 and June 1977.

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    Details later…

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