November 20, 2020 – National Infinity Magazine

Gbajabiamila names security aide who shot n/paper vendor, promises justice, support to deceased family

November 20, 2020November 20, 2020 Jide Ige

The Speaker of the House of Representatives, Femi Gbajabiamila, has confirmed that an agent of the Department of State Services attached to him shot and killed Ifeanyi Okereke, a newspapers vendor in Abuja. Gbajabiamila, in his second statement on Friday, identified the DSS agent as Abdullahi Hassan. The Speaker, who vowed to get justice for the deceased, disclosed that he had contacted Okereke’s family members and would meet with them. The statement read, “The unfortunate death of Mr Ifeanyi Okereke at the hands of one of my security aides has…

Breaking: FG concedes to ASUU’s demands, offers N60bn funding, allowances

November 20, 2020November 20, 2020 Benjamin Chukwudaalu, Political Reporter

Respite came the way of government-owned university students as striking Academic Staff Union of Universities and the Federal Government came to the middle line with the government acceding to requests of the union. After protracted negotiations and foot-dragging, the Federal Government on Friday accepted the demand by the Academic Staff Union of Universities that they are exempted from the Integrated Payroll and Personnel Information System. The government also shifted grounds on a number of issues, reading out the communique at the end of a seven-hour negotiation with ASUU members in…

Q3 2020: Zenith Bank Profit Before Tax rises by 1%

November 20, 2020November 24, 2020 Jasmin Ekua, Banking & Finance

Zenith Bank Plc has announced its unaudited results for the third quarter ended 30 September 2020 with with a Profit Before Tax (PBT) of N177 billion, representing a 1% growth over the ₦176 billion posted in the same period in the previous year. This performance demonstrates the Group’s resilience against the backdrop of a challenging macro-economic environment brought about by the Coronavirus (COVID-19) pandemic. According to the unaudited account which was presented to the Nigerian Stock Exchange (NSE), gross earnings were up 4% year-on-year (y-o-y) to ₦509 billion, driven by…

Gbajabiamila Explains: How my security aide killed a newspaper vendor

November 20, 2020November 20, 2020 Benjamin Chukwudaalu, Political Reporter

Speaker of the House of Representatives Femi Gbajabiamila on Friday admitted that his security guards killed one of the citizens who obstructed his convoy at the Eagles Square, Abuja on Thursday. Mr. Gbajabiamila said he was distraught by the incident and had immediately suspended the officer involved and asked police to thoroughly investigate it to bring justice to the family of Ifeanyichukwu Elechi. A video surfaced on Thursday showing a man who was shot by a police officer at Eagles Square, a few meters away from the parliament. Mr. Gbajabiamila, who affirmed…

Banks now charge customers for failed transactions

November 20, 2020November 20, 2020 Jide Ige

Nigerian banks have started charging customers for failed transactions, a move that could further compound economic hardship already assailing the masses. The charges were imposed following a CBN directive earlier this year that directed banks to penalise customers who initiate direct debit transactions on their account but lack funds to complete the transaction. In an email notice sent out to customers by Stanbic IBTC on Thursday and seen by Peoples Gazette, the penalty of one percent of the amount being transferred or N5000 of such, depending on the highest fee,…

GTBank posts ₦167.4bn PTB for Q3

November 20, 2020November 20, 2020 Jasmin Ekua, Banking & Finance

Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2020 to the Nigerian and London Stock Exchanges. The 3rd Quarter result shows improved performance across key financial metrics, reaffirming the Bank’s capability to navigate the current economic challenges occasioned by impact of COVID 19 on World economies. The performance reflects its position as one of the leading and best managed financial institutions in Africa. The Group reported Profit before tax of ₦167.4billion, representing a decrease of 1.9% over ₦170.7billion recorded in the corresponding…

Sterling Bank grows trading income by 265% in Q3 2020

November 20, 2020November 19, 2020 Jasmin Ekua, Banking & Finance

Sterling Bank Plc, a full service national commercial bank, has reported a trading income of N7.1 billion for the third quarter ended September 30, 2020 compared with N1.9 billion for the corresponding period of 2019, representing an increase of 264.7 percent. The bank made the remarkable financial performance despite the prevailing uncertainties that characterised the macro-economic environment in the wake of the outbreak of the Covid-19 pandemic and the attendant fiscal reforms by the Federal Government. In his remarks on the impressive performance, Mr. Abubakar Suleiman, Managing Director and Chief…