PDP to APC: Kumaila Remains on the Ballot for Borno Central Senatorial Election

Alex Enumah in Abuja

The National Publicity Secretary of the Peoples Democratic Party (PDP), Debo Ologunagba, yesterday, stated that contrary to the rumours and misleading information by the All Progressives Congress (APC), Hon. Muhammed kumaila, is still in the race for the Borno Central Senatorial seat and remains the candidate to beat in the February 25 senatorial election in Borno State.

Ologunagba, in a parley with journalists in Abuja, condemned the APC for peddling lies that the party following court’s decision has no candidate for the Borno Central Senatorial poll.

Kumaila had emerged winner of the July 15, 2022, primary election, and his name accordingly forwarded to the Independent National Electoral Commission (INEC) as candidate of the PDP for the Borno Central seat.

His nomination was however challenged by Hon. Jubrin Tatabe, who had won the May 23, 2022, primary but later withdrew from the race two months later.

Tatabe had in a letter dated July 14, 2022 voluntarily withdrew as candidate of the PDP, necessitating the conduct of the July 15 primary which produced Hon. Kumaila.

But while a Federal High Court in Maiduguri on Monday nullified the election that produced kumaila as candidate, another Federal High Court in Abuja, the following day dismissed Tatabe’s suit challenging the nomination of kumaila.

Tatabe’s request that Kumaila be sacked and his name be forwarded to INEC as the right candidate of the PDP was turned down by the court.

However, the APC in a statement claimed that following the courts judgement, the PDP has no candidate for the Borno Central Senatorial election.

Reacting, the PDP spokesman told journalists in Abuja, that it is pertinent to address the “attempt by the APC to mislead the public by falsely claiming that the PDP has no candidate for Borno Central Senatorial District Election”.

Speaking further, Ologunagba said, “Our Party has been made aware of mischievous and misleading claims by the APC, that the PDP has no candidate for the Borno Central Senatorial election scheduled to hold on February 25, 2023.

“For clarity, the PDP states in an unequivocal term that our candidate for the Borno Central Senatorial election remains Hon. Umara Muhammad Kumalia as confirmed in the list of candidates for the 2023 general elections as published by INEC.”

The National Publicity Secretary was of the opinion that the APC’s resort to falsehood “further exposes the fact that the APC in Borno State is intimidated by the towering credibility and popularity of our Borno Central Senatorial Candidate, Hon. Umara Muhammad Kumalia among the people for which they are eager to troop out en masse to vote for him on February 25, 2023”.

He advised that the APC should understand that the people have settled for Kumalia and cannot be swayed by their falsehood and misleading claims.

“The PDP therefore urges our teeming party members, supporters and good people of Borno Central Senatorial District to disregard and ignore the APC and continue to stand behind our Candidate, Hon. Umara Muhammad Kumalia as he marches to victory in the forthcoming Senatorial election,” he added.

‘Wema Bank Stocks are Best Performing Financial Stocks in 2022’

Wema Bank Plc’s stocks emerged as the best-performing financial stocks on the Nigerian Exchange during the 2022 financial year.

In a report titled, ‘The Best Performing Stocks in Nigeria in 2022’, Nairametrics compiled and analysed the in 2022, comparing their share prices as of December 31st, 2021, and December 30th, 2022. The analysis considered all 159 publicly listed companies during the period.

According to the report, Wema Bank’s share price appreciated by a whopping 441.7 per cent. This helped it to close the 2022 year at N3.9, down from the 72 kobo recorded at the end of 2022. The bank recorded a healthy 51 per cent increase in gross earnings in the first nine months of 2022 and a 31 per cent increase in post-tax profit. Investors rallied around the bank’s stocks despite a general downturn in most banking stocks during the year.

Similarly, Wema Bank declared a final dividend of 24 kobo per ordinary share to its shareholders in 2021.

This fuels speculation that increased profitability in 2022 could suggest a better dividend payout to shareholders. The Nigerian equity market rallied by 19.98 per cent in 2022, higher than the 6.07 per cent recorded in the previous year.

After many years of dividend freezes, the bank has resumed dividend payments to shareholders in the last three years. Wema has modernised its processes and has increasingly leveraged digital technologies to serve its customers, boosting efficiency and productivity in the process.

Additionally, the bank enjoyed a profitable year in terms of its financial performance and equity performance. Nairametrics ranked the bank as the best-performing commercial bank in the first half of 2022 based on metrics from its financial statements. Wema Bank also won the “Highest Dividend Yield” award at the Pearl Awards in 2022.