Managing Director of the company, Mr. Bill Haxworth said the company was connecting with its technical partner, Mantrac, a Unatrac Group, so as to enhance the quality of its services to its customers.

He said by joining with its partners form Ghana, Tanzania, Uganda, Egypt, Kenya and Russia would enable the country to grow economically.

Mr. Haxworth said the company has been operating through a network of 5 branches in Abuja, Lagos, Port Harcourt, Kaduna, Kano and Warri since its inception of over 60 years.

Mantrac Nigeria Limited said it is equipped to perform overhauls and provide quality caterpillar parts at affordable prices. It also deals with the distribution of CAT construction machines, material handling equipments and generating sets of various ranges and sizes.

Mr. Tunde Olofintila, Head of Corporate Communication of the bank, stated that offer which is expected to be concluded before the end of the first quarter of 2008 would be used for branch expansion, information technology strategies, enhancing its subsidiaries and customer services.

Olofintila said the bank intends to go international by opening branches in China, London, Ghana, South Africa and some other countries. It has also set a goal of being one of the first 5 banks in Nigeria’s banking sector by 2010.

However, the result of the bank’s financial reports has been so far encouraging. In the second quarter of the financial year ended September 30, 2007, it recorded a profit before tax of N7.6 billion compared to N4.24 billion of 2006, which is an increase of 79%.

Its profit after tax of the same year increased by 91% with N6.4 billion as against N3.3 billion of 2006 while its gross earning of unaudited results increased by 75% in its N20.59 billion compared to N11.75 billion of 2006.

Head of Corporate Affairs, Mr. Abba Dandago said the rating was done on assets, gross earnings, profit before tax, advances, shareholder’s funds and deposits using the data from the 2006 annual report or the abridged financial statement of the 24 banks surveyed.

The report is a world record as the Bank announced an increase of 418% increase in its profit before tax of N2.37 billion in 2006 against the N459 million of 2005 financial record.

The bank was also rated the 19th in profit before tax and gross earnings, 17th and 15th respectively in terms of deposits and loans and advances while it has the 12th position in terms shareholders’ fund as at the year 2006.

The Managing Director of the bank, who won the same award in the year 2006, Mrs. Cecilia Ibru, said the award would encourage the bank towards achieving its aim of being the leading African Bank. She then added that the award is dedicated to her stakeholders and all her staff for their commitment and hard work.

The bank is one of the top four banks in the industry and between 2006 and 2007, it expanded to it branch network, 135 business offices.

Also, an award was given to the 50 years expert of Citibank, William Rhodes.

Mr. Philip Timewell, editor-in-chief of the Banker Magazine praised Oceanic Bank for its outstanding contribution to the financial market.

Vitafoam decided to give out the awards having realised the efforts that the distributors had committed towards the expansion of the company’s products in the market and the general turnover.

Among the list of over 30 distributors nationwide, the best award, a Kia Rio was given to Hinges Global International, a Vitafoam distributor of over 35 years based in Jos. The gold award of Peugeot 206 car and a plaque goes to Alhaji Adamu Bello & Sons.

Mike Beddy Company of Port Harcourt went away with the 3rd prize of a silver award and a generator while Chafcon of Kano carted away the 4th prize of a bronze award and a generator.

Managing Director of the company, Dr. Dele Makanjuola, said it was the first time the company celebrated its key distributors in a grand way and expressed his satisfaction for the turnout. He also encouraged them all to continue to do well in business.

Mr. Peter Folikwe, Sales and Marketing Manager, said the distributors really performed beyond the company’s expectation. He added that the company hopes to do better for outstanding distributors in the coming year.

Executive Director of the Bank, Obeahon Ohiwerei, stated while presenting the bus to the Vice Chancellor of the institution, Professor Sonnie Gwanle that the bus provided is part of the bank’s commitment to creating a conducive learning atmosphere in the sector.

The VC, Professor Sonnie Gwanle, thanked the Bank’s management for the gift, noting that it would alleviate the transportation problem within the institution community. He then called on other corporate Organisations to emulate the Bank especially in the tertiary level where the nation’s hopes are produced.

It would be recalled that the bank has invested in its corporate social responsibility such as the 33units of Yamaha 3.8KV generators donated to boarding schools in Kano state, 1 million support for the little Saints Orphanage, 1 million donation to the Indo-Nigeria eye centre, N50 million sponsorship of the Nigeria-Lesotho Nation’s Cup qualifying match, N50 million donation to Lagos State Security Trust Fund, N5 million donation to team Nigeria, N5 million donation to an I-care, (I-care is an NGO that sees to the needs of children and widow).

The bank has also extended its social responsibility initiative to addressing the problems of the African continent.

The teachers were selected from 4 local government areas of Eket federal constituency in the state, were enlightened through the 5 days literacy skills workshop.

Mrs. Rita Umoren, Manager, Public Affairs at Qua Iboe Terminal (QIT) Ibeno, who was represented by Mr. Emmanuel Etti, said Mobil sponsored the programme with the belief that such innovation in the foundation stage of education could help alleviate illegal acts and vices in the country.

Mr. Samual Edouk who spoke on behalf of the participating teachers said the lecture has enhanced reading and learning system as well as collection of pictures for teaching in the class. He also lauded Mobil for recognizing the part played by teachers in primary schools and involving them in the workshop.

It was said that the teachers cooperated among themselves and produced 83 copies of unpublished reading materials with pictures in them during the workshop.