First Bank

Friday, November 26, 2021

EFCC Arraigns Orya, Ex-NEXIM Bank MD for N1.3Bn Fraud

The Economic and Financial Crimes Commission, EFCC, on Thursday, November 25, 2021 arraigned a former Managing Director of Nigerian Export-Import Bank, (NEXIM BANK), Roberts Orya before Justice F.E Messiri of the Federal Capital Territory High Court, Apo Abuja, on a 49-count charge bordering on criminal breach of trust, impersonation, misappropriation, official corruption, fraud and abuse of office.

He allegedly abused his position as managing director of the bank to obtain over One Billion, Three Hundred and Sixty-eight Million Naira (N1, 368,000,000) from NEXIM Bank.

Orya as managing director, NEXIM Bank, incorporated a company, Luxurium Leisure Service Limited, using the names of non-existent persons and others without their consent, and proceeded to grant loans to the company which remained unpaid years after.

Wednesday, November 24, 2021

Grammy Awards Nominations 2022: Wizkid, Burnaboy, Femi Kuti, Made Kuti, Essence gets double nominations

The Grammy Awards 2022 have launched a different procedure for selecting their nominees this year — going with a popular vote and eliminating the controversial “secret committees” that had curated the final lists in recent decades — and although most of the top nominees were expected when the contenders were announced Tuesday, the top one definitely was not.

However, Nigerians seem to have worked hard to dominate the Best Global Music Performance and Best Global Music Album categories.

Best Global Music Performance


Arooj Aftab


Angelique Kidjo & Burna Boy


Femi Kuti


Yo-Yo Ma & Angelique Kidjo


WizKid Featuring Tems

Best Global Music Album


Rocky Dawuni


Daniel Ho & Friends


Angelique Kidjo


Femi Kuti And Made Kuti



Monday, November 22, 2021

Zenith Bank Activates The Spirit Of Christmas With Ajose Adeogun Street Light-Up

The yuletide season has come to life in Lagos with the 2021 Zenith Bank Christmas Light-Up Ceremony, which held at the Ajose Adeogun Street Roundabout, Victoria Island, Lagos, on Saturday, November 20 2021.

With the theme "Let There Be Light", this year marks the 15th edition of the traditional Light-up Ceremony at the Ajose Adeogun Roundabout. Following the onset of the Coronavirus (COVID-19) pandemic, which stopped the annual event from holding last year, this year’s ceremony is indeed a momentous and significant one as it signals the return of what could be described as a spectacle that has come to be recognized by not only Lagosians but Nigerians in general as an iconic place and tourist attraction because of the beautiful decorations adorning the length and breadth of Ajose Adeogun Street - home to Zenith Bank's Headquarters,  during the yuletide season.

Friday, November 19, 2021

Meet the world's richest female billionaire, Francoise Bettencourt from France

Net worth closing in on $100 billion...

World’s richest female billionaire, Francoise Bettencourt Meyers, from France is close to the $100 billion mark, as her net worth has risen to $95.9 billion since the beginning of 2021 and she has posted a gain of $20.1 billion.

About 33% of L’Oréal, the world’s largest cosmetic company, is owned by her. As a holding company director, the French woman also represents the family stake that was attributed to her mother until she passed away about four years ago.

Wednesday, November 17, 2021

Onyeagwu Canvasses Collaboration With Nigerians In The Diaspora For Sustainable Economic Growth And Development

The Group Managing Director/Chief Executive of Zenith Bank, Ebenezer Onyeagwu, has called for increased collaboration of Nigerians in the diaspora for the nation to achieve its economic growth targets. He made the call during the 4th Edition of the Nigeria Diaspora Investment Summit 2021 organised by the Nigerians in Diaspora Commission (NiDCOM) on Tuesday, November 16, 2021. The hybrid event which held at the State House Banquet Hall, Aso Villa Abuja & Virtually had in attendance the Secretary to the Government of the Federation, Ministers of the Federal Republic of Nigeria and State Governors.

Delivering his remarks on this year’s theme: “Partnership and Linkages for Post Covid Economic Growth”, Onyeagwu noted the aptness of the theme of the summit, as it underscores Nigeria’s need for robust growth following the unprecedented impact of the COVID-19 pandemic, which triggered a severe macroeconomic shock.

Tuesday, November 16, 2021

EFCC quizzes former MD of Fidelity Bank, Nnamdi Okonkwo

The Economic and Financial Crimes Commission (EFCC) has interrogated a former Managing Director of Fidelity Bank, Nnamdi Okonkwo, those familiar with the matter have told PREMIUM TIMES.

Mr Okonkwo was recently appointed managing director of First Bank of Nigeria (FBN) Holdings Plc.

Details of Mr Okonkwo’s arrest remained sketchy Sunday night although some sources said he was being questioned over his role in the transfer of $153.3 million from the Nigerian National Petroleum Commission in favour of Diezani Alison-Madueke, Nigeria’s former petroleum minister. The banker was managing director of Fidelity Bank at the time.

Monday, November 15, 2021

Keystone Bank denies converting NNPC funds for N305 per dollar

Keystone Bank has denied reports that the Minister of Justice and Attorney-General of the Federation, Abubakar Malami (SAN), forced it to convert the $1 at N305.

The reports came after the bank met with the House of Representatives’ Ad Hoc Committee on Assessment and Status of all recovered loots on the Federal Government’s $40 million funds, which were in its custody.

Friday, November 12, 2021

EFCC detains ex-Edo Governor, Igbinedion, over alleged N1.6 billion fraud

The Economic and Financial Crimes Commission (EFCC) has detained a former governor of Edo State, Lucky Igbinedion, over alleged criminal diversion of public funds to the tune of N1.6 billion.⁣

Premium Times reports that the ex-governor was being grilled by detectives at EFCC’s headquarters in Jabi, Abuja.⁣

Shortly after his exit as governor in 2007, Igbinedion was prosecuted by the EFCC and convicted of corruption.⁣

But the new investigation is based on fresh evidence that the former governor diverted a loan obtained by the Edo State government to settle the financial indebtedness of a company in which he was said to have an interest.⁣

The latest invitation was confirmed by the spokesman of the EFCC, Wilson Uwujaren who failed to give more details.⁣

Igbinedion, governor of Edo State from 1999 to 2007, was convicted for embezzling N2.9 billion belonging to the state in December 2008.⁣

Following a plea bargain agreement he entered into with the EFCC, the 191 charges were pruned down to only one count to which Igbinedion pleaded guilty.⁣

In exchange for his guilty plea, the Federal High Court in Enugu sentenced him to six months’ imprisonment with an option of N3.5 million fine.⁣ 

Monday, November 8, 2021

Court sentences Maina to 61 years imprisonment for N2billlion pension fraud charges

A federal high court in Abuja has convicted Abdulrasheed Maina, former chairman of the Pension Reform Task Team (PRTT), on charges of money laundering.

Maina was sentenced to 61 years imprisonment but to run concurrently for eight years.

Wednesday, November 3, 2021

Sterling Bank Manager bags 18years jail term for N219m fraud in Enugu

The Economic and Financial Crimes Commission, EFCC, Enugu Zonal Command has secured the conviction of a former manager with Sterling Bank and Account Relationship Officer of OHHA Microfinance Bank. Mr Oliver Anidiobi before Justice C.O Ajah of the Enugu State High Court, Enugu on a 32-count charge bordering on forgery and stealing to the tune of N219million.

The defendant who was arraigned on Tuesday May, 7, 2019 allegedly used his position to convince the microfinance bank to deposit the said sum through him. He proceeded to fix the money in a fixed deposit account and forged a deposit certificate to deceive the microfinance bank, while he diverted the funds for personal use.

Monday, November 1, 2021

EFCC arrests Obi Cubana over alleged money laundering, tax fraud

The Anambra-born tycoon arrived the headquarters of the EFCC at Jabi Abuja at about noon on Monday November 1, 2021.

At the time of filing this report, the Anambra-born tycoon was still being interrogated by operatives of the Commission.

Though allegations against the socialite were sketchy as of press time, a source with knowledge on the matter told the Guardian that his case borders on money laundering and tax fraud.

Spokesman of the Commission, Wilson Uwujaren, however, said he was yet to be briefed on the development.

Alleged N1.7bn Fraud: Court Dismisses First Nation Airways MD, Kayode Odukoya’s No-case Submission

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, has ordered Kayode Odukoya, Managing Director and Chief Executive Officer of First Nation Airways Limited, who is being prosecuted by the Economic and Financial Crimes Commission, EFCC, for an alleged N1.7bn fraud to open his defence on January 17, 2022 and also dismissed his no-case submission.

Odukoya is standing trial alongside First Nation Airways Limited and Bellview Airlines Limited on a seven-count charge bordering on forgery, use of false document, perjury, stealing and obtaining credit by fraud contrary to sections 85(1), 86(1), 278(1)&(b), 285(1), 313(1)(a) &(b), 361(1)(a)& (b), 363 (1) and 364(1) of the criminal law of Lagos State of Nigeria 2011.

Amidst Headwinds, Zenith Bank's Profit Before Tax Hits N180billion In Q3 2021

As a testament to its resilience and market leadership, Zenith Bank Plc has announced its unaudited results for the nine months period ended 30 September 2021 with a Profit Before Tax (PBT) of NGN180 billion, reflecting a 1% growth over the NGN177 billion recorded in the same period in the previous year amidst a challenging macroeconomic environment exacerbated by the Coronavirus (COVID-19) pandemic.

According to the Group’s unaudited nine months financial results presented to the Nigerian Exchange (NGX), gross earnings increased by 2% from NGN509 billion to NGN519 billion largely due to growth in current account maintenance fees as well as fees from electronic products during the period.