By Felix Olise
Leading pan-african financial and investment conglomerate, Cititrust Holdings Plc, has held its annual award ceremony to reward outstanding employees across its subsidiaries and divisions for their hardwork and dedication.
This year’s event was held on Friday, November 13, at the banquet hall of Lilygate Hotel, in Lekki, Lagos.
The occasion was witnessed by ranking members of the company’s management team, including Mr Yemi Adefisan, Group Chief Executive; Mr Ikechukwu Peter, Country Chief (Nigeria); Mrs Imade Edah-Dike, Country Chief (South Africa); Mr Afolabi Martin, Group Executive Director, Finance and managing directors of subsidiaries across Africa.
Adefisan in his remarks said Cititrust Holdings considers employees its most prized assets hence its continuous investment in their welfare.
“We consider our human resource as our most important asset. That is why we spare no cost in ensuring that they are well motivated and appreciated at all times. This has been our philosophy, which reflects on our employee productivity numbers year on year.” Adefisan said.
Also commenting on the company’s annual CEOs Retreat, which preceded the awards ceremony, Adefisan said the retreat afforded the executive management team the opportunity to strategise for the next financial year 2021.
According to him, the company has successfully undertaken a “critical reassessment of our current business models and have identified the required adjustments necessary to significantly boost our value propositions to investors and stakeholders, and also ensure the realisation of our strategic agenda”.
The highlight of the occasion was the presentation of the Staff of the Year Award to Mr Chuks Osuya by the Group Chief Executive.
Other award categories include, Award for Excellence, Division of the Year, Best Performing Company of the Year, Award for Prudence, Product of the Year, Most Innovative Company of the Year and Managing Director of the Year.
Felix Olise/
CITITRUST Holdings Plc, a Pan African Investment Holding Company, has launched a wholly-owned Investment/Asset Management Company subsidiary in Malawi, the South Atlantic Asset Management Limited Malawi, (SAAML).
The launch followed the receipt of approval from the Registrar of Financial Institution, Malawi, for the firm to provide Portfolio/Wealth Management, structured investments and other investment advisory services to individuals, corporations and institutional investors.
CITITRUST in a statement said the unveiling of this remarkable feat is in pursuant to the Portfolio Management License granted to South Atlantic Asset Management Limited on October 6, 2020 in line with the Malawian Financial Service Act (FSA) 2010 and Financial Services (Establishment and Operations of Portfolio Manager) Directive 2015.
The Chief Executive of South Atlantic Asset Management Limited, Malawi, Mr. Victor Ekhor said the launch of the Asset Management business ties in with CITITRUST’s plan to become a dominant player in the Financial Services sector.
“We are enthusiastic at the unique opportunity to bring investment products to the Malawian market, as our goal is to constantly provide a wide range of solutions to support the evolving needs of our partners and the entire investment community,” he further stated.
“The issuance of this approval by the Registrar of the Financial Institution is a laudable development, and one that will most definitely lead to an unprecedented basis for value creation within the Asset Management Space in Malawi,” Victor added.
Speaking on the vision for South Atlantic Asset Management Limited, the Group Chief Executive of CITITRUST Holdings Plc., Yemi Adefisan said, “We intend to support African Businesses and unlock the continent’s potentials through the management of several investment funds and provision of financial advisory services. Our focus is on growing wealth for our esteemed clients through our well-thought-through products”.
“At CITITRUST, our people have extensive experience in the financial services sector across Africa and are devoted to pooling complementary resources and functions to give clients the best value. We look forward to offering unique and creative solutions, backed up by world class technology, to transform current market offerings and do more for our clients,” Adefisan added.
Felix Olise/
Cititrust Holdings Plc, a leading financial and investments services provider in Africa, has been commended by the Osun State governor, Adegboyega Oyetola, for its support for the state’s COVID-19 containment efforts.
Oyetola in a letter dated August 6, 2020, which he personally signed, expressed the appreciation of the government and people of the state to the management of the company for the far reaching support it provided for the state, especially during the period of the COVID-19 lockdown.
Cititrust, through its special COVID-19 Support Initiative, provided food items worth millions of naira to the Osun State government during the period of the nationwide lockdown to mitigate the impact of the lockdown on residents of the state.
The company also extended similar gestures to Lagos State Government through the Onigbongbo State Constituency, in addition to monetary donations to Health Emergency Initiative, a non-governmental organisation, for the purchase of medical equipment, and to the CBN COVID-19 Response Account.
The letter by the Osun State governor reads, “I bring to you, warm greetings from the good people and Government of the State of Osun. On behalf of the good people and Government of the State of Osun, I wish to acknowledge your kind contribution towards cushioning the effect of Corona virus pandemic in the State.
“It will be placed on record that your contribution has really gone a long way in assisting the 21- Man Osun State COVID-19 Committee, which was set up to cushion the effect of the lockdown and restriction of movements placed on citizens across the State occasioned by the Pandemic, achieve its set objectives. Your kind gesture has given us hope that we can rise above all odds towards advancing our development as a people in the face of daunting challenges.
“In the same vein and for the avoidance of doubt, your intervention, as a major stakeholder in this challenging period, has really boosted our morale towards facing the surge headlong.
“While I am thanking you once again for your timely and kind intervention, please accept the assurances of my best wishes and warm regards.”
Reacting to the development in a statement, on Sunday, the Group Chief Executive of Cititrust Holdings Plc, Mr. Yemi Adefisan, said the company has continued to make greater investments in its Corporate Social Responsibility initiatives with a view to providing continued support for the government in all the countries it operates across Africa until the COVID-19 pandemic is defeated.
“Cititrust Group will continue to support sovereigns and sub-sovereings in providing support to the vulnerable and less priviledged in the society on a quarterly basis until the effects of the pandemic is reduced to a manageable level,” Adefisan stated.
He expressed appreciation to the Osun State government for deeming it fit to acknowledge Cititrust’s contribution to the fight against COVID-19 in the state.
Felix Olise/
Cititrust Holdings Plc, a leading African investment and financial services group, has won the 2020 Global Banking and Finance magazine’s award for a decade of offering excellent financial and investment services across Africa.
This was announced by Global Banking and Finance magazine in the 18th edition of its annual awards for deserving financial institutions in seven regions and more than 80 countries.
In the letter of award, Cititrust Holdings Plc is designated winner of the ‘Decade of Excellence Investment Holding Company Africa 2020’ category.
While expressing his joy at the development, the Group Chief Executive Officer of Cititrust Holdings Plc, Mr. Yemi Adefisan, said the award is an acknowledgement of the group’s consistent focus on “strategic and value-driven investments” in financial sector of the economies of the 11 countries, where it currently operates across Africa.
Adefisan said in a statement by the company that the award was particularly gratifying, coming on the heels of winning the prestigious ‘Investment Holding Company of the Year Award’ at the 2019 edition of BusinessDay’s Banks and Other Financial Institutions Awards.
According to Adefisan, over the years, all the subsidiaries of Cititrust Holdings in Nigeria, which include: LivingTrust Mortgage Bank Plc (formerly Omoluabi Mortgage Bank), Core Capital Ltd, First Options Microfinance Bank Ltd, FGH Healthcare Ltd, CDP Insurance Brokers Ltd and Bermuda BDC Ltd and others across Africa, have established a reputation for long-term value creation across the financial sector of the economy.
He said the company has also continued to make significant investment in cutting edge technology in order to maintain and improve its excellent customer service delivery.
Adefisan reaffirmed Cititrust Holdings’ commitment to protecting and promoting the interests of its stakeholders across the African continent and making significant contribution to the development of the Nigerian and regional economy.
Cititrust Holdings Plc was founded in 2007 and holds significant investments that cut across commercial and mortgage banking, asset management, stockbroking, and investment banking, currency trading, pension fund administration and insurance services.
Felix Olise/
Leading financial service provider, Omoluabi Mortgage Bank Plc, today, held its sixth Annual General Meeting (AGM) in Osogbo, the Osun State capital.
Many of the shareholders took part in the meeting online due to the need to comply with the COVID-19 protocols prescribed by the health authorities.
One of the major decisions taken at the meeting was the approval granted by shareholders for the bank to change its name to LivingTrust Mortgage Bank Plc.
Shareholders at the event also voted to ratify the appointments of Messrs Adewole Adekunle as Managing Director, Oyewole Olowu as Executive Director, and Yemi Adefisan, Olufemi Adesina and Adeniran Adewole as Non Executive Directors, while Mrs. Fehintola Olatunde-Agbeja was elected an Independent Director of the bank.
Others elected were members of the statutory audit committee.
Addressing the shareholders, the bank’s Chairman, Alhaji Adebayo Jimoh, explained that the name change is in line with the bank’s short and mid-term strategic focus, to enhance brand visibility and acceptability, and also reinforce its national outlook.
In his address, the Managing Director thanked the shareholders for the confidence reposed on him and the new management team.
He stated that despite the economic headwinds and challenges of COVID -19, the bank is poised to delivering excellent customer experience, as well as superior returns to shareholders in the year 2020.
Also speaking at the event, the Group Chief Executive of CITITRUST Holdings Plc, the bank’s core investors, Mr. Yemi Adefisan, said that his group preferred to invest in Omoluabi Mortgage Bank, amongst others considered, due to the bank’s healthy balance sheet and strong corporate governance practices.
He expressed confidence in the ability of the management and board, led by Jimoh, a foremost technocrat, in taking the bank to the desired level of playing in the top five in the Mortgage Banking Industry in the next three years.
Adunni Akinwunmi/
Cititrust Holdings Plc has reaffirmed its commitment to supporting both public and private initiatives in the fight against the COVID-19 pandemic with the donation of N1 million for the purchase of personal protective equipment (PPE) for frontline health care workers.
The cheque was handed over to a non-governmental organisation, Health Emergency Initiative (HEI) at the company’s corporate headquarters in Lagos, today.
HEI, a recipient of Best Supporting NGO Award by Lagos State Health Service Commission, partners the Federal Road Safety Corps, Lagos State Ambulance Service, Lagos State Emergency Management Agency and other relevant agencies to ensure that critically injured accident victims receive prompt life-saving care in public health institutions.
Speaking during the occasion, Group Chief Executive of the company, Mr Yemi Adefisan, said Cititrust Group had earlier donated food items to Lagos and Osun state governments, and cash to the CBN COVID-19 account.
Adefisan said the current gesture was Cititrust’s contribution to an emergency trust fund set up by HEI to provide much-needed PPE for frontline health workers in Lagos State.
Also speaking at the event, chairman of Cititrust COVID-19 Response Committee, Mr. Kunle Adewole, said the company was proud to work with credible organisations like HEI in ensuring that critical needs of front-line health workers are promptly met.
According to him, records show that the organisation has donated PPE to LUTH, LASUTH, FMC Ebute Metta, FRSC and IDH, Yaba, “hence, Cititrust has no doubt that donated funds will be judiciously utilised”.
He said the company would continue to “explore other areas of critical needs in the COVID-19 response and healthcare sector in general with a view to rendering its corporate support”.
In his own comments, the Founder/Executive Director of HEI, Mr Paschal Achunine, thanked the management of Cititrust for its “unrelenting support for the social well-being of Nigerians”.
He disclosed that other services offered by HEI include assisting indigent patients in public hospitals, particularly children, who could have died of infections like malaria, sepsis, typhoid fever, pneumonia, tetanus, diarrhea, cholera, among others.
According to Achunine, over 485 patients have benefited from HEI’s intervention, including 210 children across 27 hospitals in Lagos State.
He used the occasion to solicit support of other corporate entities and individuals for the organisation.