Femi Adebayo Takes Movie Business to another level

 Femi Adebayo is the current champion in the business of movie making in Nigeria. Jagun Jagun, his latest effort released on movie app, Netflix is the talk of the town. Talk of about a movie that is a complete work of art from cinematography, dialogue, casting and effect, Jagun Jagun is a whole new level just like Adebayo did when he produced 'Ageshinkole'. 

Most financial institutions don't consider movie makers for loans , except a few ones like Bank of Industry but they support them, especially the movie premiere or making them brand ambassadors. Producers find of way of funding their movies and getting a return of investment if their work is remarkable, accepted and patronized. Piracy, which was a major problem has been reduced or stamped out because producers now prefer to release  their movies through cinema of high rewarding movie apps like Netflix. - By Niyi Tabiti

Okumagba apologizes after comments on Uduaghan, Warri land

 A member of the Okumagba Royal Family in Delta State, Prince Louis Okumagba, on Monday apologized to the Alema of Warri Kingdom, Chief Emmanuel Oritsejolomi Uduaghan, for his comments on Warri land.

" I sincerely apologise for dragging the name of the Alema of Warri Kingdom, Chief Emmanuel Oritsejolomi Uduaghan, in the mud’’ Louis Okumagba said in a statement entitled ‘’Okumagba: Warri Land Scandal.”

 

Louis Okumagba said he was sorry for his comments.

 

“Everything I earlier mentioned is false and untrue. I regret any embarrassment I might have caused him. I hereby undertake never to bring his name to disrepute’’ the statement said.

 

Last year, key families in Okere-Urhobo took steps to foil the divisive and land grabbing plan of Louis Okumagba.

 

They also urged the good people of Delta State and the public to completely discountenance the false publication by Louis Okumagba.

 

Heads and members of the Olodi, Oki and Ighogbadu families of Okere-Urhobo of Warri South spoke on prejudices of some local and foreign publishers on the land opposite Don Domingo College, Warri.

 

Chief Gideon Okumagba, a representative of the three families, read the statement of the royal families aloud to newsmen.

 

The families accused Louis Okumagba of distortion and inciting fear in Delta State.

 

“The families of Olodi, Oki and Ighogbadu collectively owned landed properties in Warri.”

 

The Okere-Urhobo leaders said the land was acquired by the defunct Bendel State Government.

 

“The families are represented by Heads of the Kindred family and are the original owners of the land until it was acquired by the then Bendel State Government. The families currently have their administrative office at No 60 Okumagba Avenue Warri where they meet frequently to deal with issues on family lands and other related family matters.”

 

They offered an itemized and caustic indictment of Louis Okumagba’s behavior in Warri South.

 

“As one of the elders in the family, specifically as related to the false claims by Louis Okumagba, I am well abreast of the issues raised in that publication. The good people of Warri are not in any war or in a battle over the landed property opposite Don Domingo College, Warri, and it is very shameful that the said Louis is trying to incite tribal/ethnic battle in that publication.”

 

They promised to file a libel suit against individuals and organizations publishing Louis Okumagba’s false narrative.

 

 “It is not true that the Alema of Warri Kingdom, High Chief Emmanuel Oritsejolomi Uduaghan, used officials of the Delta State Government to intimidate and arrest Louis Okumagba. To be candid, it was Chief Gideon Okumagba that reported his criminal extortion of money from developers to the Police Area Commander Office in Warri.”

 

The statement emphasized how the matter was dragged to the office of the Inspector General of Police Abuja.

 

Particularly, the families accused Louis Okumagba of trying to sow discord amongst Deltans through falsehood.

 

“Louis Okumagba claimed that he has been in the forefront of the land in dispute is false and misrepresentation of facts. The land was acquired by the then Bendel state for public purposes. The Delta State government has since done the needful by releasing/returning parts of the land to the Olodi, Oki and lghogbadu families who are the rightful owners. 4.6 hectares of land was released to the family on the 26 day of June 1988 and another part of the unused land was released to the Olodi, Oki and 1ghogbadu families on the 14 of January 2000. Also, the Olodi, Oki and Ighogbadu families have an agreement with the Government of Delta State over the remaining parts of the land.”

 

The families told news men there was zero evidence for Louis Okumagba claims of land grabbing.

 

“To be more specific, the remaining portion of the land was released to Seriviri Nigeria Limited wherein Chief Emmanuel Oritsejolomi Uduaghan is one of the directors of that company and the said company also have an agreement with the families and half of the land was released to the families. Indeed, the three families benefited from the land including Louis Okumagba.”

 

They scolded Louis Okumagba for rendering a real disservice.

 

“There was never any consultation by Louis Okumagba with the well-known families of Olodi, Oki and Ighogbadu before that Publication was made by him. It’s a futile attempt to incite the Urhobo and Itsekiri into a needless bickering. There is no dispute as far as the land in this narrative is concerned. The said Louis should avail himself to enable the police conclude their investigation in the crime levied against him. The land in question belongs to the Olodi, Oki and lghogbadu families of Okere-Urhobo and he should stop spreading false claims and division among the families and tribes in Delta State. If there are disputes in any land owned by these families, it is the heads and members of the family who will collectively decide to institute an action in court.”

 

The notable families also condemned the role of Chief Louis Okumagba in the 30 plots released to the Olodi, Oki and Ighogbadu families of Warri in the Okere – Urhobo kingdom of Delta State.

 

They described it as a negative development and a minus for peace and development in Delta State.

 

In a letter titled: ‘’Attempt / efforts to cause communal war, fanning embers of communal dispute, conduct likely to cause breach of peace and criminal defamation of characters of our clients; Olodi, Oki and Ighogbadu families of Warri in the Okere – Urhobo kingdom of Delta State, all committed by Mr. Louis Okumagba – a call to investigate the allegation herein, the families urged the Inspector General of Police to investigate allegations against Louis Okumagba, so as to prevent a monumental communal war/crisis between Itsekiri and the Urhobo of Okere Urhobo Kingdom.

 

“God forbid a repetition of what happened in 1997/98 in Okere-Urhobo Kingdom.”

 

Counsel to the Olodi, Oki and Ighogbadu families of Warri in the Okere – Urhobo Kingdom, L O. Egboyi & CO said in 1974/76, the then government acquired a part or portion of our client’s land for public purpose.

 

“In 2017, the Delta State government gave part of this acquired land to Messrs. Seriviri Nig. Ltd. for the purpose of partnership (Leisure Park) with the state government, covered by a certificate of Occupancy. Considering the size of the land given to Seriviri Nig. Ltd, for the partnership, it could not utilize the entire land. So, it entered into agreement with our client family, wherein, it released 30 plots thereof back to the family – our clients.” 

 

The Olodi, Oki and Ighogbadu families of Warri are made up of the popular Okumagba family of Warri, Okere- Urhobo kingdom.

 

“Our clients are the owners of all the land in the entire Okere-Urhobo kingdom Warri. Certain Mr. Louis Okumagba who is the black sheep of the family started to foment trouble, disturbing and threatening Seriviri Nig. Ltd, with thugs and dangerous weapons which led to his arrest in 2019 to the Police Force Headquarters', Abuja. After being granted bail by the police, the suspect (Mr. Louis Okumagba) rushed to file a fundamental Human Rights action against the Police, at the Delta State High Court, sitting in Warri. The action stalled the prosecution of the suspect (Mr. Louis) by the Police.”

 

The families said the suit of the suspect against the Police was dismissed by the Delta State High Court, sitting in Warri, with a specific order of the Court directing the police to arrest and prosecute the suspect (Mr Louis Okumagba).

 

“While the Police were looking for the suspect for arrest and prosecution as directed by the Court, the same suspect went to social media (Opera news) to declare that “there will be looming danger of war/crisis between the Itsekiri and Urhobos”, thereby inciting, promoting and instigating communal war between the two peaceful co-existing communities of Itsekiri and Urhobo.”

 

This incitement, according to the families, created several apprehensions in the minds of locals, which has affected the hitherto peace that reigned and pervaded the two communities.

 

“Furthermore, the suspect posted on the same social media that some named members of our clients namely, Chief Gideon Okumagba, Stanley Oki, Chief Victor Okumagba, Engr. Prince Ojuvwu Okumagba and others, sent assassins to his house to kill him, but he escaped by the whiskers. He confirmed that he had a one-on-one confrontation with the assassins, who confirmed the named members of our clients above, as the people who commissioned them to eliminate him.”

 

The legal practitioners described Olodi, Oki and Ighogbadu as bunch of responsible families

 

“Olodi, Oki and Ighogbadu families are known throughout Nigeria for their peaceful disposition. The named individuals are distinguished and respected members of the Okumagba family and the Nigeria Society. Our clients therefore take the allegation of hiring assassins by its members very seriously, especially in this era of Security challenges in the country.”

 

The families also deplored the actions of Louis Okumagba and urged the Inspector General of Police to use his good offices to investigate the allegations and anyone found culpable to be brought to book.

By Henry Ovie

SANWO-OLU CONGRATULATES LAGOS APC CHAIRMAN, OJELABI AT 65

 Lagos State Governor, Mr. Babajide Sanwo-Olu, has congratulated the State Chairman of the All Progressives Congress (APC), Pastor Cornelius Ojelabi, on his 65 years birthday.

 

Governor Sanwo-Olu, in a statement issued by his Chief Press Secretary, Mr. Gboyega Akosile, on Monday described Pastor Ojelabi, a former federal lawmaker and ex-member of the Lagos State Executive Council, as a religious leader, seasoned politician and administrator, who used his positions for the development of Lagos State and Nigeria at large.

 

The Governor said Pastor Ojelabi contributed immensely to the growth and development of Lagos State as a council chairman, commissioner, member of the House of Representatives, and now as State Chairman of the ruling party.

 

He said: “On behalf of my adorable wife, Ibijoke, the government and good people of Lagos State, I join family, friends, political and religious associates, leaders and members of the All Progressives Congress in Lagos State, to congratulate our chairman on his 65th birthday.

 

"Pastor Ojelabi has contributed significantly to our dear State and party. He has served his community, church, local government, constituency, Lagos and Nigeria in different capacities. He has displayed a high level of integrity, dedication and professionalism in public offices.

 

"Pastor Ojelabi worked tirelessly with other party leaders and members for APC, in the last general elections for us to retain Lagos, which has been under the progressives for about 24 years. He is a team player and a respected politician. 

 

“As our party's chairman, Pastor Cornelius Ojelabi celebrates his 65th birthday, I pray that God will increase him in good health to enable you to render more service to humanity, our party, state and Nigeria.”

UBA OFFERS CUSTOMERS #FUNSUMMER TREAT WITH EXCLUSIVE BENEFITS, DISCOUNTS

 Africa’s Global Bank, United Bank for Africa (UBA) Plc has assured customers of a memorable summer treat with the recent launch of exclusive benefits and discounts tied to its cards during this period.

Tagged, the #FunSummer campaign, customers are set to enjoy a wide range of privileges and savings between now and  the end of August 2023, and this service is open to all customers and non-customers of UBA.

Unveiling the campaign in Lagos, UBA’s Group Head,  Retail Products and Sales, Prince Ayewoh, said the bank, understands the relevance of the summer season to Nigerians who use their cards both home and abroad, online or in-store and has  worked towards creating a value-driven campaign on how UBA Card holders can best achieve their desires this season and beyond.

He said, "We are thrilled to introduce our Summer Campaign, providing our esteemed customers with remarkable benefits through the UBA card. With our exclusive discounts on staycations and lifestyle services as well as subscriptions, we aim to enhance our customers' summer experiences and contribute to their personal growth and well-being." 

“With the UBA card, customers gain access to an array of exceptional offers. For starters, customers can now enjoy a 5% discount when booking a staycation or availing other lifestyle services through the Aura by Transcorp hotel app,” he noted.

Ayewoh pointed out that UBA recognizes the importance of keeping children engaged and learning during the summer holidays, which is why UBA cardholders will be entitled to enjoy a special 10% discount on uLesson subscriptions, an innovative and interactive online learning platform. 

“With uLesson, parents can provide their children with fun and educational content, enabling them to expand their knowledge and skills while enjoying their summer break, and so I urge all our customers and non-customers to take advantage of these offers and create lasting memories this summer,” he said.

The summer campaign will also see customers benefit from the use of the UBA Prepaid Cards - the UBA Dollar and Naira Prepaid Card or the Debit card which also comprises of Debit Card for a Naira account, Gold Debit MasterCard, Platinum Debit Mastercard and the Visa Dual Currency Debit Card (DCDC) all of which boast of an array of benefits. 

The UBA card is accepted in over 210 countries of the world and is protected with second to none technology to ensure the security of all cardholders. Cardholders are encouraged to share their summer desires on UBA’s social media pages to qualify for amazing prizes.

For useful travel tips and content, customers are encouraged to follow the conversation on the UBA social media pages and campaign page. 

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 35 million customers globally.  Operating in 20 African countries and in the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

Top 5 Richest Bankers in Nigeria according to Billionaires Africa List

 A fast growing online business magazine, Billionaires Africa recently profile 5 top richest bankers in Nigeria. Gistmaster.com is not surprised by the names mentioned just that we don't know if the list is correct according to the numerical order.

Jim Ovia

Market value of stake in Zenith Bank: $224.3 million

Jim Ovia is the visionary founder and Chairman of Zenith Bank Plc, Nigeria’s largest commercial bank by market capitalization. With a 16.17 percent stake in Zenith Bank, equivalent to 5,077,104,311 ordinary shares, he is one of the wealthiest investors on the local bourse. His stake in the bank is currently worth N169.8 billion ($224.3 million), thanks to his latest acquisition and the notable surge in Zenith Bank’s share price. At the helm of Zenith Bank, Ovia’s contributions to the Nigerian banking sector have been highly influential, earning him recognition as a highly successful banker and entrepreneur. Under his vision and leadership, Zenith Bank has become a top-tier financial institution, solidifying its position as a leading player in Nigeria. With a net worth of $900 million in 2013, Jim Ovia is also one of Africa’s richest men.

Herbert Wigwe

Market value of stake in Access Holdings: $70.5 million

Hebert Wigwe is the Group Managing Director and CEO of Access Holdings Plc, a leading financial services group in Nigeria with a strong asset value. He holds a significant 9.09-percent stake in Access Holdings, equivalent to 3,230,789,014 shares, through his family office, Tengen Holdings. As a result, he is recognized as one of the wealthiest investors on the Nigerian Exchange, with his stake currently valued at N53.4 billion ($70.5 million). Under his leadership, Access Holdings has experienced remarkable growth, emerging as one of Africa’s leading financial services groups through strategic acquisitions. Notably, the acquisition of a majority stake in Angolan bank, Finibanco, and a recent agreement to acquire the Sub-Saharan African subsidiaries of UK-based multinational bank, Standard Chartered Bank, have further strengthened Access Holdings’ position in Africa. The group is committed to establishing a connected ecosystem and fostering a vibrant community between Africa and the rest of the world.

Tony Elumelu:

Market value of stake in UBA: $44.1 million

Tony Elumelu is a distinguished philanthropist and Nigerian businessman with diverse holdings in the financial and energy sectors. He owns 7.17 percent of United Bank of Africa (UBA) through various entities, including Heirs Holdings Limited, Heirs Alliance Limited, and HH Capital. Recently, he acquired an additional 7o million shares in UBA, bringing his total shareholding to 2,457,372,28 units, valued at N33.54 billion ($44.1 million). In addition to his stake in UBA, Elumelu owns a 25.9 percent stake in Transcorp, a prominent conglomerate involved in power generation, energy, and hospitality. As the founder of Heirs Holdings, an influential investment holding company with interests spanning financial services, energy, hospitality, and real estate, Elumelu has established himself as a prominent figure in the Nigerian banking and business landscape and solidified his position as a key player in the financial and energy sectors through his significant holdings in UBA, Transcorp, Africa Prudential, and United Capital.

Atedo Peterside

Market value of stake in Stanbic IBTC Holdings: $13.7 million

Peterside Atedo is a prominent Nigerian banker and economist known for founding the Investment Banking & Trust Company Limited (IBTC) in February 1989 at the age of 33. He has played a significant role in shaping the Nigerian banking industry, particularly through his contributions to the growth of Stanbic IBTC Holdings Plc. As of the latest data, Stanbic IBTC Holdings is ranked as the tenth most valuable entity on the Nigerian Exchange, boasting a market capitalization of N901 billion ($1.19 billion). Peterside’s achievements extend to his personal investments, where he holds an impressive 1.16 percent stake in Stanbic IBTC Holdings, valued at N10.45 billion ($13.75 million). This substantial stake solidifies his status as one of the richest investors on the Nigerian Exchange and places him among the wealthiest bankers in the country.

Segun Agbaje

Market value of stake in GTCO: $2 million

Segun Agbaje is the Group Managing Director and CEO of Guaranty Trust Holding Company (GTCO), a Lagos-based financial holding company with diversified operations in retail and investment banking, pension and asset management, and payment services. He has been instrumental in propelling Nigeria’s banking industry forward, leading GTCO to become one of the country’s top financial services groups. Under his guidance, the bank has achieved remarkable strides, earning a prominent reputation within the sector and contributing significantly to the nation’s economic development. Segun Agbaje’s strategic vision was key to the group’s expansion and transformation into a holding company after a structural reform in July 2021. Presently, he holds a minority 0.14-percent stake in the financial services group, totaling 41,628,001 shares, with an estimated value of N1.6 billion ($2 million), making him one of Nigeria’s wealthiest banking executives. In addition to his executive role at GTCO, Agbaje serves on the boards of PepsiCo and is a member of the Mastercard Advisory Board for the Middle East and Africa.

 

Helicopter crash in Lagos

Confirmed report shows Helicopter crashed and bursted into flames today around Oba Akran Road, Ikeja-Lagos. Name of the helicopter pilot is unknown as at the time of report. More details is being awaited as it is not sure the pilot survived. 

FOR A THIRD CONSECUTIVE YEAR, ZENITH BANK MAINTAINS POSITION AS NIGERIA’S BEST COMMERCIAL BANK, ALSO NAMED BEST CORPORATE GOVERNANCE BANK AT WORLD FINANCE 2023 AWARDS

 For a third year running, Zenith Bank Plc has been named the Best Commercial Bank in Nigeria at the World Finance Banking Awards 2023. The bank also emerged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards 2023, retaining the award for a second consecutive year.

These awards were presented to Dr. Ebenezer Onyeagwu, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, at the London Stock Exchange recently. The recognitions celebrate the bank's tremendous feats and milestones in financial performance, financial inclusion, corporate governance, and sustainability.

Commenting on the awards, Dr Onyeagwu said that: "these awards are a testament to our resilience and ability to adapt to the vagaries of the market as well as our innate capability to engender very stellar business performances through our innovative products and solutions. It also affirms our continued commitment to global best practices in corporate governance, sustainability and corporate social responsibility." 

Dr Onyeagwu dedicated the awards to the Founder and Group Chairman, Jim Ovia, CFR, thanking him for his mentorship and for establishing the basis for a resilient and highly successful institution. He also expressed gratitude to the board for their exceptional leadership, vision, and insight; to the staff for their unwavering commitment and dedication; and to the bank's customers for making Zenith their preferred bank.

World Finance is a foremost international magazine providing extensive coverage and analysis of the financial industry, international business, and the global economy. Its editorial combines award-winning journalism, covering a vast array of topics from banking and insurance to wealth management and infrastructure investment, with contributions from some of the world's most esteemed economists and theorists and consultants from government think tanks and the World Economic Forum.

Zenith Bank's track record of excellent performance has continued to earn the brand numerous awards, with these latest honours coming on the heels of several recognitions, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital, for the 14th consecutive year, in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker's Bank of the Year Awards 2020 and 2022; Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World's Best Banks Awards; Best in Corporate Governance' Financial Services' Africa, for four successive years from 2020 to 2023, by the Ethical Boardroom; Most Sustainable Bank, Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards. 

Also, the bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021 and Retail Bank of the Year, for three consecutive years from 2020 to 2022, at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named Bank of the Decade (People's Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.