News
Skye Bank Earmarks N3.3bn For Dividend
Skye Bank Plc has set aside a total of N3.3 billion to pay dividends for the financial year ended Dec. 31, 2012.
Reports say that this translates to a dividend of 25k per share.
Mr Olatunde Ayeni, the chairman of the bank, told shareholders at the Annual General Meeting of the bank in Lagos on Thursday that the bank maintained its usual conservative dividend policy.
He said that this was in spite of the though operating environment.
Ayeni said that the board recognised the importance of having a reasonable reserve to maintain the status of the bank.
He said that the bank had continued to invest in human development by providing challenging career advancement opportunities to workers.
“We will continue to position our people effectively in the emerging banking terrain as we continue to create a learning environment that encourages resourcefulness and innovation,’’ he said.
Ayeni said that the current financial year would be a period of defining growth for banks as they would contend with increased competition in the area of productivity.
The chairman said that Skye Bank would have to hone its skills in various aspects of lending and other auxiliary services to become leader in the markets.
The Managing Director of the bank, Mr Kehinde Durosinmi-Etti, said that the bank was expanding and strengthening the network of its electronic distribution channels including Point of Sales (PoS) terminals.
He said that the group recorded growth in major indices of performance, adding that the group recorded a 24.8 per cent growth in gross earnings.
Durosinmi-Etti said that gross earnings grew from N83.9 billion in 2010 to N104.8 billion in 2011.
The asset base of the company grew by 31.3 per cent to N927.1 billion from N705.9 billion recorded in 2010.
Its deposit liabilities rose to N658.1 billion in 2011 from N507.6 billion in 2010, reflecting a growth of 29.6 per cent.
The bank’s operating income also grew by 22.5 per cent from N60.8 billion in 2010 to N74.4 billion.
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has tasked troops of Operation SAVANNAH SHIELD to dominate the battlespace and intensify offensive operations against kidnappers, bandits and other criminal elements in the North Central region.
Shaibu gave the directive yesterday during his maiden operational visit to the Headquarters, Joint Task Force North Central (JTF-NC), at Sobi Barracks, Ilorin.
This is contained in a statement by the Acting Director, Army Public Relations, Col. Appolonia Anele, in Abuja, yesterday.
Shaibu said the Nigerian Army would remain resolute in its constitutional responsibility of safeguarding lives and property, stressing that troops must sustain pressure to decisively deny criminal elements freedom of action.
He assured personnel of continued deployment of combat enablers and operational resources to enhance clearance operations and dismantle criminal hideouts across Kwara and Niger states.
The COAS reaffirmed his commitment to troop welfare, noting that improved welfare remained critical to sustaining morale, operational effectiveness and combat readiness.
He urged the troops to remain disciplined, professional and loyal to the Constitution and the democratically elected government.
Earlier, the Theatre Commander, JTF-NC Operation SAVANNAH SHIELD, Maj.-Gen. Yakubu Yahaya, commended the COAS for his strategic leadership and support.
Yahaya assured that troops would remain committed and steadfast in restoring peace and stability in the region.
The Nigerian Navy says it is expanding training and infrastructure to address emerging security threats and strengthen operational efficiency across formations and units nationwide.
The Chief of Naval Staff, Vice Adm. Idi Abbas, spoke during the inauguration of projects at the Nigerian Navy Basic Training School (NNBTS) in Onne, Rivers as part of activities marking the Nigerian Navy’s 70th anniversary.
Abbas, represented by the Flag Officer Commanding, Naval Training Command (NAVTRAC), Rear Adm. Ebiobowei Zipele, said the projects reflected significant progress made by the navy since its establishment in 1956 from the British Royal Navy.
“Training and infrastructure have improved significantly to meet contemporary security challenges and fulfil the navy’s constitutional responsibilities.”
According to him, the anniversary provides the navy an opportunity to reflect on its achievements and contributions over the past seven decades.
Projects inaugurated included a remodelled female trainees’ hostel accommodating more than 500 occupants and an expanded golf course upgraded from one to nine holes.
Others were the NNBTS fuel dump, Chief Boatswain’s Mate House, renovated pharmacy department and a new theatre block at the Naval Medical Centre, Onne.
Abbas described the new theatre as a major milestone for the navy’s medical services.
“Previously, injured personnel requiring surgeries were referred outside the facility.
“With this theatre, surgeries can now be conducted within the base.’’
He added that a 30KVA inverter had also been installed to guarantee uninterrupted electricity supply at the training school.
The naval chief assured officers, ratings and trainees that the navy leadership remained committed to their welfare and wellbeing.
“These infrastructure upgrades show the commitment of the Chief of Naval Staff to addressing operational and welfare challenges promptly,” he said.
In addition, NAVTRAC distributed educational materials to pupils of Community Primary Schools One and Two, Ogale, in Ebubu-Eleme area of Rivers.
Items distributed included exercise books, school bags and other writing materials as part of the navy’s civil-military engagement initiative.
Zipele said the outreach was designed to strengthen relations between the navy and host communities while supporting children’s education.
“Education remains critical to national growth and youth empowerment. Some of these pupils may eventually serve in the Nigerian Navy,” he said.
He noted that the initiative demonstrated the navy’s commitment to educational development, peace, security and sustainable community relations.
Zipele urged the pupils to remain disciplined, focused and committed to their studies while embracing patriotism, integrity and hard work.
He thanked the Ebubu community for its continued support for the naval training command headquarters and the navy.
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