Dignity Finance Records 150 Per cent Profit Increase

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By Tobi Soniyi

Financial services provider, Dignity Finance and Investment Ltd, (DFIL), has declared a profit after tax of N84.45 million for the year ended December 31, 2019.

This was even as the company has approved the payment of N50 million dividend to its shareholders.

The profit, which was made by the Chairman of the Board of Directors, Ahmed Ibrahim, at its 10th annual general meeting, AGM, represents a 150 per cent growth from the previous year’s figure of N33.84 million.

Ibrahim also announced that the company’s gross earnings in the year under review hit N539 million up by N98 million from the N341 it recorded in 2018.

The meeting, which was attended by the directors, shareholders, customers and staff of the company, was held physically and virtually – in line with COVID-19 response protocols.

In his opening remarks, Ibrahim thanked the shareholders, staff, customers and directors for their trust, hard work, commitments and resilience in the last 10 years, and for sustaining and growing the institution to its enviable position.

He particularly thanked the Managing Director, Mallam Yahaya Yusuf, for the growth trajectory which has placed the company as one of the biggest and strongest finance companies in Nigeria.

Ibrahim also announced the board’s approval of the appointment of Dr. Chijioke Ekechukwu as the incoming MD/CEO, subject to CBN’s approval. Before his appointment, Ekechukwu was a director of the company.

In his speech, Yusuf thanked the board, shareholders, staff and customers of DFIL for the confidence reposed in him by trusting his leadership with their investment.

He also thanked them for their support, without which the company wouldn’t have achieved the milestone it attained.

Meanwhile, the AGM approved the payment of dividend to its shareholders to the tune of N50 million. The above sum translates to 40k per share, which excited the shareholders.

Some of the shareholders thanked the board, staff and management for the huge dividend proposed for payment and for their hard work.

DFIL is a non-banking financial institution licensed by the Central Bank of Nigeria, CBN, since 2009 with approved share capital of N500 million.

The company with very astute, qualified and experienced top ex-bankers on the board as directors, two of who were past MDs/CEOs of top flight Nigerian banks engages in various financial services of funds management, wealth management, LPO financing, leasing, invoice discounting, financial advisory services, debt factoring etc.