Dr. Awele Elumelu, GAVI Champion for Africa and Founder, Avon Medical Practice, joined other global health leaders at a Photo Exhibition organised by GAVI, the Vaccine Alliance, for increased vaccine coverage in under-immunised nations. The event tagged “Vaccine Heroes” was held on September 10, 2018, in Geneva, Switzerland.
Following the announcement made earlier in January 2018 on the sidelines of the global World Economic Forum in Davos, of Dr. Elumelu as GAVI Champion for Immunisation in Africa, the GAVI Photo Exhibition convened GAVI representatives who reiterated their commitment to saving the lives of children around the world.
Speaking at the Gavi event, Dr. Awele Elumelu commended the great efforts and achievements by the Vaccine Heroes, Health Workers and the GAVI team in spreading the message and adoption of immunisation globally. In her words: “Immunisation is one sure way to prevent diseases, save our children and advance our economy. It is an honour to champion the importance of immunisation that saves the lives of children around Africa and the world. I am particularly pleased to be doing so with innovative organisations like the ones that make up the Gavi Alliance,” she said.
Dr. Elumelu further advocated the urgent and important need for the health of children and committed to working with the global Vaccine Alliance to expand the coverage of immunisation across Africa and in her native country, Nigeria.
“In our own capacity, at Avon Medical and Avon HMO, we are working to provide quality, effective and accessible healthcare and insurance to most citizens in Africa’s most populous country, Nigeria. This is our Group’s way of contributing to the work of GAVI. I look forward to doing more work and bringing about more private and public partnerships to promote immunisation and better coverage for children in and out of Africa”.
In attendance was Director General, World Health Organisation (WHO), Dr. Tedros Adhanom Ghebreyesus who spoke about the importance of vaccines as the backbone of health systems. According to him: “There is no health for all without vaccines for all”.
Organised by GAVI, the Vaccine Alliance, the event gathered leaders in the global health sector, including Anuradha Gupta, Deputy CEO, Gavi, the Vaccine Alliance; Clemens Adams, Director, United Nations; and Seth Berkley, CEO, Gavi, the Vaccine Alliance.
GTBank Releases Q1 Unaudited Results, Reports Profit Before Tax Of N57.0Billion
Zenith Bank Plc Sustains Market Dominance with Improved Profitability
In the first quarter ended 31 March 2019, Zenith Bank Group recorded improved numbers across key metrics, driven by a solid performance in all business segments. This resulted in a Profit before Tax (PBT) of ₦57 billion, representing a 6% growth over the ₦54 billion achieved in the corresponding period in 2018. The Group’s on-going commitment to cost optimisation on the income statement and statement of financial position ensured earnings per share increased by 7% to ₦1.60 compared to Q1 2018.
The growth in net interest income and operating income by 23% and 1% respectively mitigated the decline in gross earnings. The effective management of cost-to-income ratio, cost of funds and cost of risk offset top-line declines to deliver an enhanced operating income in the period.
Our risk and asset quality continues to improve as cost of risk dropped significantly by 52% from 0.9% in the prior year to 0.4% for the period. This was achieved as impairment charges declined by 54% (₦2.5 billion year on year reduction). Our cost of funds also improved, declining by 25% from 4% in Q1 2018 to 3% at quarter-end. This was supported by a 22% decrease in interest expense of ₦10 billion over the same period, affirming the Group’s robust treasury and liquidity management. Our prudent cost management led to a 5% decline in our cost-to-income ratio by 5% from 53.3% in 2018 to 50.9% in the period with an absolute reduction in operating expenses by ₦2.3 billion year-on-year.
The Group’s retail franchise continues to increase as retail deposits grew by N80bn between December 2018 and March 2019 representing a 9% growth notwithstanding the fact that total customer deposits dropped marginally by 3%. The drop in customer deposits was as a result of rebalancing of the deposit mix as expensive purchased deposits were forgone in favour of cheaper and stickier retail deposits.
The volume and value of transactions across our electronic and digital platforms continue to grow as new customers are being acquired. Our balance sheet continues to strengthen as liquidity ratio is at 66.7%, loan to deposit ratio closed at 43%, and capital adequacy ratio ended the period at 25% respectively and remain above the relevant regulatory thresholds as at 31 March 2019.
Going into the rest of the year and with improving economic fundamentals, we are confident of delivering value to all our stakeholders on our commitments even as we create more opportunities for businesses by supporting them through selective risk asset creation. We shall continue our investments in the retail segment of the market as we consolidate our leadership position in the corporate segment while maintaining a strong balance sheet.
A Woman’s Signature goes on Naira for the first time in 59 years
Central Bank of Nigeria, CBN has broken history, as a woman’s signature first time in Nigeria’s 59-year history, is inscribed on the Naira.
Priscilla Ekwere Eleje, who has been acting director of currency and operations at the Central Bank of Nigeria (CBN), has been confirmed, substantive director of the apex bank.
She is the first female director of currency in the history of the bank, and her signature has been appended on the naira — breaking another glass ceiling.
Ladi Kwali, Nigeria’s foremost potter, is the only woman on the naira, taking a spot at the back of the N20 note.
Every naira note in the country’s history — save the N20 note — has had the face, name, and signature of a man, up until now.
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