PRESS RELEASE
The Steady Growth Of AKMODEL GROUPS: Searchlight On Builder (Dr.) Abdulhakeem Odegade Part2
When I came back to Lagos during one of the holiday breaks, one of my father’s friends told my dad, “Mr. Jimoh, you have to pave way for this young man, he has been to school and his mode of doing things are even different”, they now began to engage me in some projects and told me to be sharing whatever I make with my father.
The first job I got on my own was on Roberts street in Magodo Ph2, a duplex owned by a fashion designer, due to how I executed it, I began to get more and more projects in Lagos. Not forgetting the fact that I was still in school, so I had to go back and continue/complete my studies.
That was how the journey of the construction work started
When I was doing my National Youth Service Corps (NYSC) at Lagos State Ministry of Works under Builder (Mrs) Ogunnaike (Rtd.), Builder Afolabi (Rtd.) though some are still in service, they use to call me Omo-odę because as a ‘Corper’ I still had all those Private Practices (PP) outside. Even in the camp, I was amongst the camp members that maintained all the chambers, the bricklaying works within the camp as at then. They loved me so much that as we speak presently, some among the NYSC staff invested with me in the real estate business.
I had to move in when there were demands for landed properties from my clients, I registered the name: AKMODEL HOMES AND PROPERTIES, the company is registered with EFCC, and also a member of Real Estate Associations both in Lagos and in Nigeria.
A. Names Of Some Of Our Estates Sold Out (Lagos)
We started the First Estate in November 2020 in Ibeju-Lekki:
1. Akmar Court Ph1 then extension;
2. Akmar Court Ph2 then extension;
3. Akmar Flourish Garden in Epe;
4. Akmar Royal Garden in Epe;
5. Akmar Queens Court in Epe;
6. Akmar Heritage in Epe;
7. Now dealing with Honeycomb Estates in Iba Oloja, behind Free Trade Zone in Ibeju-Lekki.
A. ITE (Royal Place) – Monastery Road, Sangotedo, Lagos State
B. Akmar Waterview – Ibon Village, Elerangbe, Ibeju Lekki, Lagos State.
C. Akmar Freezone City – Besides Lekki Free Trade Zone
D. Akmar Hilltop Estate – Igbodu – Epe
E. Akmar Utopia Garden
&
Akmar Pride Villa – Iba Oloja, Lekki Free Trade Zone
F. Honeycomb Estates – Iba Oloja, Lekki Free Trade Zone
These are very lucrative places, they are selling out fast as people are rushing them.
2. We also have properties outside Lagos, namely:
A. Akmar Kings Court – Uyo (Akwa Ibom State);
B. Akmar Emirates Court in Ilorin;
C. Akmar Farm Village in Ogun State
D. Lavender Garden in Delta
E. Akmar Hilltop Estate – Enugu Agidi, Awka (Anambra State)
F. Akmar Choice Farm – Epe Road, Ijebu-Isiwo Village, Ogun State
G. Akmar Oasis Estate – Ibagwa Nike, Enugu State
Also Outside The Country:
1. Akmar Gardens in Ghana
2. Akmar Gardens in Ivory Coast
3. Akmar Gardens In London Opening Soon)
*All our estates are titled lands and free from government acquisition.
We let our clients know this truth and this makes them have more trust and confidence in the company, which is integrity for us. The managing director is always available to listen to any complaints, proffer solutions, and advice diligently too,
Presently there’s another request that came to us for SALES APARTMENT and we already have clients that wants to invest in the project which is already on-going in Sangotedo area of Ajah.
Sales Apartment is a series of flats attached or separated for rent-out or for sale.
They could be: A room self-contain (Studio Flat), One, Two or Three Bedroom Flats on 2/3 Floors, depending on the design.
This type of project is for people who are already house owners, that has funds but doesn’t want to leave it in the bank. They invest in the number of units they want (paying part to complete when the project is finished) at completion, the apartments will be rented out and the investor will be earning on it even in the comforts of their own homes.
Along the line, we also introduced what is called LAND BANKING which is a way of aggregating a landed property, keep for a while and resell at a higher price, no inflation or crash in economy affects such. By getting all the necessary documents, a client can buy and keep, buy and build or buy and resell immediately depending on what the client wants.
They can also decide to invest in a particular estate for some months, pay and get the documents, and at maturity, sell and cash out their funds with Return on Investment (RoI) effortlessly while they are sleeping.
In business, there is a difference between BUSINESS and INVESTMENT: in investment, you invest money somewhere and it is working for you, while in business, you are the one working for the money. So let the money be working for you too so that the pressure will not be too much on a particular person.
To be continued…
Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one of Nigeria’s fastest growing companies.
The bank has also seen rapid expansion in customer base and assets as total balance sheet size leapt from N2.1 trillion to N6.2 trillion, the sixth largest in the Nigerian banking industry. The balance sheet was driven by a hefty total deposit of more than N4 trillion, equally the sixth biggest in the industry.
A review of the audited reports and accounts of Fidelity Bank between 2023 and 2020 showed double-digit growths over the years with cumulative average annual growth rate (CAGR) in earnings, profitability and assets significantly above average industry rate and within the best performance among publicly quoted companies.
Average annual profit growth rate of 64 per cent underscores Fidelity Bank’s fundamental strength as an inflation-hedging investment. The operational growth strengthens the overall return outlook of the bank, which share price has delivered an average annual capital gain of more than 100 per cent in five years at the stock market.
Several experts’ reviews have said the bank’s strong historical performance is a major attraction for its ongoing combined rights and public offer.
Fidelity Bank is offering a rights issue of 3.2 billion ordinary shares of 50 kobo each at N9.25 per share. The bank is also simultaneously offering 10 billion ordinary shares of 50 kobo each to the general investing public at N9.75 per share.
The acceptance and application lists for the rights issue and public offer, which opened on Thursday, June 20, 2024, are scheduled to close on Monday, July 29, 2024. The rights issue has been pre-allotted on the basis of one new ordinary share for every 10 existing ordinary shares held as at the close of business on Friday, January 05, 2024.
Fidelity Bank’s gross earnings rose successively from N206 billion in 2020 to N251 billion, N337 billion and N556 billion in 2021, 2022 and 2023 respectively, representing average annual growth of 39 per cent. Profit before tax has grown consecutively from N28 billion in 2020 to N124 billion in 2023. Profit after tax jumped from N26.65 billion in 2020 to N99.45 billion in 2023. Earnings per share has also grown from 92 kobo in 2020 to N3.11 in 2023, showing the headroom for increased dividends to shareholders.
The bank’s profitability has been driven by continuous increase in market share, a strong commitment to national economic growth with supports for businesses and high customer trust.
Fidelity Bank’s total assets has grown successively from N2.11 trillion in 2019 to N2.76 trillion in 2020 and consecutively to N3.28 trillion, N3.99 trillion and N6.23 trillion in 2021, 2022 and 2023 respectively. Shareholders’ funds have also grown successively from N234.03 billion in 2019 to N273.53 billion, N285.29 billion, N314.36 billion and N437.31 billion in 2020, 2021, 2022 and 2023 respectively.
Total deposit has grown by an average annual growth of 33 per cent from N1.7 trillion in 2020 to N4.02 trillion in 2023. A breakdown underlined a strong customer confidence with low-cost deposit accounting for 97.4 per cent of total deposit.
Low-cost deposit has grown at a faster CAGR of 44 per cent over the period, rising from N1.31 trillion in 2020 to N3.91 trillion in 2023. Savings accounts had also doubled over the period from N424 billion in 2020 to N881 billion in 2023, representing average annual growth rate of 28 per cent.
Fidelity Bank has more than 8.0 million customers, with 5.1 million of these customers on digital channels, underlining the strength of the bank’s robust information and communication technology.
As customers increasingly entrust the bank with their funds, Fidelity Bank has also shown equally aggressive commitment to national economic growth with average annual growth of 32 per cent in net loans.
Net loans have grown successively from N1.32 trillion in 2020 to N1.66 trillion, N2.12 trillion and N3.09 trillion in 2021, 2022 and 2023 respectively. The above average growth in loans shows Fidelity Bank’s famed supports for Nigerian businesses. The bank’s loans portfolio is the fifth largest in the Nigerian banking industry.
A frontline industrialist and a customer of the bank, Dr Kamoru Yusuf, Founder of KAM Holding, said Fidelity Bank has been exceptional in supporting the development of Nigerian companies.
Yusuf, whose group has metamorphosed into a global business conglomerate operating in three countries across two continents, confirmed that KAM Holding has benefited immensely from financial supports from Fidelity Bank.
He said investing in Fidelity Bank will be an investment in the growth of Nigerian economy and companies like KAM Holding, the nation’s largest wholly indigenous metal and steel production company.
He underlined the relationship between increased capital for a business-focused bank like Fidelity Bank and the overall development of the Nigerian economy.
There are strong indications that the bank will sustain its impressive growth record in the years ahead. Already, interim report and account of the bank for the first quarter ended March 31, 2024 showed that the bank started the current business year on stronger footing with three-digit growths across key performance indicators.
The three-month report showed that gross earnings increased by 89.9 per cent to N192.1 billion in first quarter 2024. The bank’s top-line performance continued to be driven by broad-based growths across income lines with interest income rising by 90.7 per cent and non-interest income growing by 84 per cent in first quarter 2024.
Growth in interest income was primarily spurred by a higher yield environment and strong earning assets base, while the increase in non-interest income was led by double-digit growth in account maintenance charges, foreign exchange (forex)-related income, trade, banking services, and remittances, supported by increased customer transactions.
Profit before tax doubled by 120 per cent to N39.5 billion in first quarter 2024 as against N17.9 billion in first quarter 2023. The bank’s performance was driven by expanding market share with total deposit rising by 17 per cent within the three months to N4.7 trillion, compared with N4 trillion recorded at the end of 2023.
The bank also increased its supports for national economic growth with net loans and advances rising by 21 per cent from N3.1 trillion at the end of 2023 to N3.7 trillion by March 2024.
PRESS RELEASE
Eko MI Awards 2024: And Bldr. (Dr.) Abdulhakeem Odegade Honoured With Humanitarian Award At Maiden Edition
Akmodel Group Managing Director, Builder (Dr.) Abdulhakeem Odegade and many other distinguished personalities at the maiden edition of Eko Mi Award 2024, were honoured with awards for their efforts in making Lagos State (Eko) better.
The event which held at the prestigious Sheraton Hotel in Ikeja, Lagos State played host to different individuals that cut across different strata of the society.
Bldr. (Dr.) Abdulhakeem Odegade was given a recognition award as the *Outstanding Humanitarian Personality*, and among other winners included but not limited to: *Grassroot Politician Of The Year – Cardinal (Dr.) James Odunmbaku JP, Most Stylish King – His Royal Majesty, Oba Saheed Ademola Elegushi, Kusenla 111, Eko Youth Ambassador – Seyi Tinubu, Agency Of The Year – Lagos State Signage And Advertising Agency (LASAA), TV Programme Of The Year – Journalist Hangout, Outstanding Business Personality – Aare Bashir Fakorede, TV Station Of The Year – LTV, Outstanding Public Administrator – Mr. Hakeem Smith.*
Award of recognition was also given to *Mr. Segun Timothy (The Always Dancing LASTMA Officer In Agidingbi)* etc.
READ ALSO:“How Meeting You Transformed My Life – Temi Otedola to Mr Eazi”
To appreciate his effort, the MC, Gbenga Adeyinka the 1st called for donations of appreciation and Builder (Dr.) Abdulhakeem Odegade gave his own humble support of N100,000. Other dignitaries followed suit and at the end of the day, a total of N1.2m was raised for the officer.
The activities of the event was well-coordinated by Gbenga Adeyinka the 1st, and the audience were treated to thrilling performances by comedians like MC Stylo, Prince Phelar and Chi Young, alongside musical acts by the veteran Jojo Body beat and Fabs as part of the side attraction.
It was an opportunity for friends, colleagues, families to network in a lively environment.
Image Expression, publisher of Eko Mi, Eko E Newspaper headed by Otunba Bestman Nze-Jumbo is the organiser of Eko Mi Awards.
Recall that Akmodel Group consist of Akmodel Homes and Properties, Akmodel Builders Construction, Akmodel Farm investment.
They also have landed properties in Lagos, Uyo, Ibadan, Awka, Abeokuta, Ilorin, Enugu, Ghana etc, Cote d’Ivoire and United kingdom loading.
Now introducing *Akmodel Auto-Care and Akmodel Oil and Gas*.
SOLIN MEDIA
PRESS RELEASE
Akmodel Group MD, Bldr. (Dr.) Abdulhakeem Odegade, Governor Babajide Olusola Sanwo-Olu, Favour Benson,Yomi Fash Lanso Others To Attend Eko Mi Awards Maiden Edition
Akmodel Group Managing Director, Builder (Dr.) Abdulhakeem Odegade, number one citizen of the state, Governor Babajide Olusola Sanwo-Olu, Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly, Favour Benson and other distinguished personalities will gather today Thursday 18th July, 2024 for *Eko Mi Awards* which maiden edition will take place at *Sheraton Hotel and Tower, Ikeja, Lagos*
Eko Mi Awards is to recognize and honor notable Nigerians, groups, agencies and organizations contributing to peace, stability, adding value and development of Lagos State.
Bldr. (Dr.) Odegade being the golden fish that doesn’t have a hiding place is a nominee amongst 102 nominees comprising personalities from different sectors and organizations during the maiden award ceremony.
READ ALSO: Asia’s Top 10 Wealthiest Individuals in 2024
The categories which will see many emerging winners include Politics, Governance, Leadership, Enterprise, Hospitality, Industry, Arts & Culture, Tourism, Sports and Entertainment.
Other important dignitaries who are expected and have also indicated intention to grace the event includes *Hon. James Abiodun Faleke, the member representing Ikeja Federal Constituency in the House of Representatives, Yomi Fash Lanso Cardinal James Odumbaku, a renowned political mobilizer* amongst others.
The organisers assures everyone that awardees of Eko Mi Awards were selected based on their track records, character and proven contributions to the centre of excellence,
Image Expression, publisher of Eko Mi, Eko E Newspaper is the organiser of Eko Mi Awards.
Recall that Akmodel Group consist of Akmodel Homes and Properties, Akmodel Builders Construction, Akmodel Farm investment.
They also have landed properties in Lagos, Uyo, Ibadan, Awka, Abeokuta, Ilorin, Enugu, Ghana etc, Cote d’Ivoire and United kingdom loading.
Now introducing *Akmodel Auto-Care and Akmodel Oil and Gas*.
SOLIN MEDIA
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Eko MI Awards 2024: And Bldr. (Dr.) Abdulhakeem Odegade Honoured With Humanitarian Award At Maiden Edition
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