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Diamond Bank’s PAT Drops To N3.49bn

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8 years ago

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Diamond Bank’s profit after tax dipped by 38.34 per cent during the financial year ended Dec. 31, 2016.
The Tide source reports that the bank’s profit after tax dropped to N3.49 billion from N5.66 billion recorded in 2015.
These financials are contained in a statement issued by the bank in Lagos on Monday.
It said that the bank’s gross earnings also dropped to N212.41 billion from the N217.09 billion recorded in the preceding year.
The statement said that the bank posted 53 per cent growth year-on-year in total comprehensive income of N12.1 billion, while non-interest income inched by 6.9 per cent to N53.9 billion, ostensibly stimulated by transaction fees.
The statement stated that the bank’s capital adequacy ratio remained stable at 15.0 per cent, equal to the Central Bank of Nigeria’s (CBN) required minimum standard.
It said that revenue from non-interest income, especially its mobile banking, increased from N0.41 billion in 2015 to N2.6 billion in 2016.
The bank’s Chief Executive Officer, Mr Uzoma Dozie,  was quoted by the statement as saying that the company’s stable growth continued in spite of the harsh economic headwinds.
Uzoma said that the strategies were primed to promote sustainable growth and profitability in the long term.
He said that the restructuring of bank’s operating model was a key development completed in 2016.
“Following its successful implementation, the emerging model has improved customer engagement, strengthened Diamond Bank’s value chain approach to business and delivered efficiencies across the bank,” he said.
Uzoma said that these measures had helped to improve the bank’s low-cost deposit base from the retail segment, whilst also facilitating growth in non-interest income and reduction in interest expenses.
“In the months ahead, the bank will continue to deploy new technologies and digital applications to drive financial inclusion and convenient banking amidst a decline in the pace of economic activities and weak economic fundamentals,” Uzoma said.
According to him, the bank will also continue to deepen its retail strategy to mop up low cost funds, expand its credit creation structure and increase market share in all market segments.

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Kenyan Runners Dominate Berlin Marathons

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21 hours ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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21 hours ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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21 hours ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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