FRIDAY 26TH OCTOBER 2018

Page 1

Fidelity Bank‘s Nine-month Profit Soars to N20 Billion Peter Uzoho Fidelity Bank Plc has posted an impressive financial performance for the third quarter (Q3) of 2018, just as the commercial bank is on course to finishing strong in the current financial year.

Details of the nine-month results for the period ended September 30, 2018, released on the Nigerian Stock Exchange (NSE) yesterday, showed a double-digit growth in its revenues and profitability. Also, the bank's gross earnings

grew by 6.9 per cent to N139 billion, up from the N130.1 billion reported in the same period in 2017, while profitbefore-tax grew significantly by 23.6 per cent, from N16.2 billion in the comparable period of 2017, to N20.1 billion in Q3.

In other indices, the bank's total assets grew by 21.9 per cent to N1.681 trillion, from N1.379 trillion in the same period last year. Total deposits, which is a measure of customer confidence, increased by 27.3 per cent to close at N986.8 billion from

N775.3 billion in 2017. Commenting on the Q3 performance, the bank’s CEO, Mr. Nnamdi Okonkwo, said: “The continuing execution of our medium-term strategies has further yielded positive results and we are delighted

with our nine-month financial performance. "The strong 10.8 per cent growth of N6.9 billion and the moderate growth in total expenses by 6.5 per cent or Continued on page 49

President Blames Past Govts for Airport Terminals’ Disrepair… Page 49 Friday 26 October, 2018 Vol 23. No 8591. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

INEC Publishes Buhari, Atiku, others’ names for Claims and Objection … Page 50

Again, The Economist Says Buhari Will Lose in 2019, Predicts Victory for Atiku Fashola: President's win will ensure handover to S-West in 2023

Obinna Chima in Lagos, Omololu Ogunmade and Olawale Ajimotokan in Abuja The Economist Intelligence Unit (EIU), the research unit of The Economist Magazine, has predicted that the presidential

candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, will defeat President Muhammadu Buhari of the ruling All Progressives Congress (APC) in the 2019 presidential election. This prediction is coming as

the Governor of Kogi State, Mr. Yahaya Bello, on Wednesday night in Abuja, told President Buhari and the APC that the PDP "will not be a push over" in the general elections. The Economist’s forecast came less than two months after it

had earlier predicted that Buhari would lose the election. The EIU made the latest prediction in its country report on Nigeria, dated October 17, which was obtained yesterday. The London based magazine said, “The Economist Intelligence

Unit expects that the President, Muhammadu Buhari, will lose power at the February 2019 elections and that the next government will be led by Atiku Abubakar of the PDP, although his administration will be fragile.

“Mr. Buhari is the APC’s presidential candidate and his main challenger is Mr. Abubakar, who was recently nominated PDP’s candidate with overwhelming backing Continued on page 16

Bagudu Regrets Ambode’s Loss of Second Term

Praises his contribution to rice import reduction by 90% Gboyega Akinsanmi Kebbi State Governor, Alhaji Atiku Bagudu yesterday regretted despite his good works, Lagos State Governor, Mr. Akinwunmi Ambode, had been denied the opportunity to serve for another term. Listing Ambode’s good works, Bagudu said, for instance, Nigeria could not have been able to reduce rice importation by 90 per cent without his strategic support to

the Nigerian Rice Initiative (NRI). He gave insight into how the partnership between Lagos and Kebbi States culminated in the massive production of Lake Rice at the 18th National Women Conference of the Committee of Wives of Lagos State Officials (COWLSO) held in Lagos yesterday. At the conference, Bagudu commended Ambode for the Continued on page 16

NERC to Unveil Meter Asset PROMOTING AFRICAN ENTREPRENEURSHIP… Republic of Ghana, Dr. Nana Akufo-Addo (left), and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu, at 2018 TEF Providers in November...Page 16 President, Entrepreneurship Forum and launch of TEF Connect in Lagos…yesterday


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.