CITIZENS COMPASS – The revered traditional ruler of Ogwashi-Uku Kingdom, Delta State, His Royal Majesty Obi Dr. Ifechukwude Aninshi Okonjo II, faces new and intensifying threats as land grabbers and dissidents launch a smear campaign, weaponizing baseless accusations to discredit his ongoing efforts to secure Ogwashi-Uku’s land and bring justice.
This orchestrated attack on the Obi includes recent petitions to the Department of State Services (DSS) accusing him of land grabbing and other unsubstantiated claims, further amplified in the media. Spearheading these efforts are Mazi Elue Adigwe, Collins Afuwah, Hycinth Okolie, and Ugo Emordi, whose credibility is under serious question given their own alleged criminal backgrounds.
These individuals were involved in an attack on the Obi himself in October 2023, when they reportedly stormed his palace with firearms, a violent act which has led to terrorism charges filed against them at the Federal High Court in Asaba. This assault is not an isolated incident; in 2022, during a royal visit to Otulu Ogwashi-Uku, the Obi and his entourage were ambushed by a faction led by Francis Odiwanor, who is linked to these dissidents. The attackers, reportedly trying to distance Otulu from Ogwashi-Uku and obscure extensive land transactions, set vehicles in the Obi’s entourage ablaze and violently molested numerous individuals accompanying him.
The Palace Secretary, Prince Ifeakanachukwu Emordi, condemned the recent allegations as “false, malicious, and part of a longstanding agenda.” Prince Emordi highlighted how these individuals have, for years, peddled baseless stories about the Obi, including false claims of a “killer squad” and fabricated accusations of kidnapping. “This is yet another attempt to distract from the Obi’s mission to root out lawlessness and secure communal resources,” Emordi stated.
The Obi’s role as custodian of Ogwashi-Uku’s land has led to groundbreaking initiatives, including the unprecedented distribution of nearly 2,000 free plots to Ogwashians—a transformative step to ensure the land benefits the community directly. However, his pursuit of a fair, equitable society has provoked resistance from entrenched groups who have long profited from illegal land sales, pocketing proceeds meant for the community.
HRM Obi Ifechukwude Okonjo II has also dedicated significant resources to local infrastructure and security. New transformers are being installed to improve power access, water restoration projects are underway, and security measures have been bolstered to safeguard residents. According to the Palace Secretary, five transformers have been supplied by the Obi in Council to various communities in Ogwashi-Uku Kingdom.
Diokpa John Emordi, a community elder, voiced his support, stating, “The Obi’s authority over Ogwashi-Uku’s land is undisputed and longstanding. These accusations are a thinly veiled attempt to undermine him and disrupt his reforms. The Obi remains committed to protecting our kingdom from landgrabbers and criminal elements.”
As the Obi of Ogwashi-Uku persists in his vision of justice and prosperity, he stands resilient against these retaliatory threats. Despite adversities, the community supports the Obi’s mission and his unwavering resolve to transform Ogwashi-Uku Kingdom into a place of security, equity, and progress.
*Wema Bank Releases Q3 2024 Unaudited Results… Reports Profit Before Tax of ₦60.62billion, a 174% YonY Growth* .
Wema Bank Nigeria (“Wema” or “the Bank”)) has released its unaudited Consolidated Financial Statements for the period ended September 30th 2024, to the Nigeria Exchange Group (NGX). The Bank reported profit before tax of ₦60.62bn, representing an increase of 174% over the ₦22.13bn recorded in the corresponding period in 2023.
Wema Bank’s balance sheet remained well structured with total assets growing by 38% to
₦3,084.27 trillion in Q3 2024 from ₦2,240.06trillion in FY 2023. The bank also grew its deposit base year to date by 23% to ₦2,292.30bn from ₦1,860.57bn reported in FY 2023. Loans and Advances grew by 25% to ₦1003.28bn in Q3 2024 from ₦801.10bn in FY, 2023. NPL stood at 3.19% as at Q3 2024.
The bank recorded an improved 3rd quarter performance as Gross Earnings grew by 91% to
₦288.32bn (Q3 2023: ₦150.90bn)). Interest Income was up 81% y/y to ₦229.11bn (Q3 2023:
₦126.67bn). Non-Interest Income up 144% y/y to ₦59.21bn (Q3 2023: ₦24.23bn).
Return on Equity (ROAE) of 38.62%, Pre-Tax Return on Assets (ROAA) of 2.64%, Capital Adequacy Ratio (CAR) of 14.06% and Cost to Income ratio of 60.47%, speak to the resilience of the brand.
The Managing Director/Chief Executive Officer of the bank, Mr. Moruf Oseni said, ‘our Q3 2024 numbers speaks to our resilience despite a tough operating environment. We will sustain our growth trajectory into 2025. The performance is headlined by impressive improvements in Profit before Tax which grew strongly by 174%. The growth of Gross Earnings by 91.07%, Total Assets by 38% and earnings per share at 328.1kobo shows the core improvements to our balance sheet. In addition, our cost to income ratio at 60.48% has witnessed significant improvement from the previous period.
