First Bank

Tuesday, April 16, 2024

Fidelity Bank grows Profit by 131.5% in FY 2023


Lagos, Nigeria, April 16, 2024: Leading financial institution, Fidelity Bank Plc, has released its 2023 full year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N 124,26 billion.

According to the results, which was issued to the Nigerian Exchange (NGX) today, the bank grew Gross Earnings by 64.9% YoY to N555.83 billion, driven by 81.6% growth in Net interest income which increased from N152.7billion to N277.37 billion. This led to a Profit After Tax of N99.45 billion representing a 112.9% annual growth.

Commenting on the Bank’s commendable performance, Dr. Nneka Onyeali-Ikpe,OON, MD/CEO of Fidelity Bank Plc said, “We closed the financial year with strong double-digit growth across key income and balance-sheet lines. Our performance in 2023 is an attestation of our capacity to deliver superior returns to shareholders despite the difficulties in our operating environment. Profit before tax grew by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY.”

Friday, April 12, 2024

Bobrisky sentenced To 6-Month Jail term without option of fine over Naira abuse

 Controversial cross-dresser Idris Olanrewaju Okuneye popularly known as Bobrisky has been sentenced to six months imprisonment without any option fine for abusing the Nigeria currency – naira. 

Justice Abimbola Awogboro of the Federal High Court, Lagos, in her sentence, said the judgment will serve as a deterrent to others who are fond of abusing and mutilating the naira.



Sunday, April 7, 2024

Zenith Bank Named Nigeria's Best Bank For The Fourth Year In The Last Five At Global Finance Awards 2024

Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards Winners.

The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

Thursday, April 4, 2024

EFCC arrest Bobrisky for Naira abuse


Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have commenced investigation of Idris Okuneye, a.k.a Bobrisky, for allegedly spraying Naira notes.
 
The  EFCC had invited the 31-year old following a video report of spraying and flaunting wads of new Naira notes at the premiere of a movie, Ajakaju, produced by Eniola Ajao, a Nollywood actress and producer, at Film One Circle Mall, Lekki, Lagos on March 24, 2024.
 
Investigation also revealed that he had also committed the alleged offence at some other event centres and parties at different times.
 
Following the invitation by the Commission, he arrived at the Lagos Zonal Command of the EFCC in the morning of Wednesday, April 4, 2024 for interrogation and volunteered his statements. 
 
He will soon be charged to court upon conclusion of investigations

Tuesday, April 2, 2024

Lagos State deputy commissioner of police, Gbolahan Olugbemi, found dead in his apartment

Gbolahan Olugbemi, deputy commissioner of police, found dead in his apartment


Gbolahan Olugbemi, a deputy commissioner of police, has been found dead in his apartment in Ogbomoso, Oyo state.

Olugbemi was said to have left Lagos for Ogbomoso for the Easter celebration. His body was reportedly found dangling from the roof of his living room on Monday.

Prior to his death, he was in charge of the criminal investigation department (CID), Panti, Lagos.

Banks are in good stead to meet CBN’s recapitalisation target – ACAMB

The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has assured the banking public that banks in the country have the wherewithal to meet the Central Bank of Nigeria (CBN) recent directives on recapilitalisation of the sector.

The Association in a statement signed and released by its president, Rasheed Bolarinwa on Sunday said ACAMB had always affirmed its support for the CBN’s recapitalisation moves.

Recall that the Olayemi Cardoso-led apex bank had last week issued and released a circular on review of minimum capital requirement for commercial, merchant and non-interest banks over the next 24 months. 

Tuesday, March 26, 2024

Court sentences Chinese to death for killing Nigerian girlfriend


Kano-based High Court on Tuesday pronounced a death sentence by hanging on Chinese national, Frank Geng-Quangrong, 47, who stabbed his Nigerian girlfriend, Ummukulsum Sani, 22, to death.

A resident at Kano Railway quarters, Geng-Quangrong, was convicted on one count charge bordering on culpable homicide.

While delivering judgment, Justice Sanusi Ado-Ma’aji, upheld that the prosecution had proven its case beyond any reasonable doubt, adding that, “The defendant’s testimony is inconsistent I hereby find him guilty.”

EFCC arraigns ex-banker over alleged N2.7 billion fraud


The trial of one Christopher Jackson Edeh, alleged to be involved in a N2.7 billion Fidelity bank fraud case, is scheduled to commence on May 30, 2024, as announced by Justice O.O. Abike-Fadipe of the Special Offences Court in Ikeja, Lagos.

According to a statement published on X, Edeh faces nine-count charges brought forward by the Economic and Financial Crimes Commission (EFCC) on February 28, 2024, including fraudulent false accounting and unauthorized access to a computer, under Sections 337 and 387 of the Criminal Law of Lagos State.

Saturday, March 23, 2024

Moscow concert hall attack: At least 60 killed and more than 100 wounded


Gunmen killed at least 60 people and injured more than 145 in a concert hall near Moscow, authorities announced late Friday in what Russia has described as a "terrorist attack."

"The bodies of the dead are being examined. It has been previously established that more than 60 people died as a result of the terrorist attack. Unfortunately, the number of victims may increase," according to a statement by Russia's Investigative Committee.

The number injured has differed in official sources. The Moscow region Health Ministry published a list of 147 people with wounds of varying degrees of severity. Russian Health Minister Mikhail Murashko said he was aware of 115 people who were injured and the Russian Emergency Ministry published a list of 99 people who were hospitalized after the shooting.

Monday, March 18, 2024

At Polaris Bank IWD Webinar, Guest Speakers Advocate Empowering Opportunities for Women


…as CEO, Kayode Lawal highlights the indispensable contributions of women to societal progress, economic development

Lagos, Nigeria: March 18, 2024 – Polaris Bank's International Women’s Day (IWD) webinar themed: 'Empowering Voices: Women Leading Change,' offered a dynamic platform for insightful conversations. The 2024 International Women’s Day (IWD) theme "Inspire Inclusion," recognizes that despite progress made, women face significant obstacles to achieve equal participation in the economy.

Held on March 12, 2024, at the Bank’s Victoria Island, Lagos headquarters, the webinar featured a distinguished panel of experts who discussed various aspects of women's empowerment and inclusivity. The event witnessed participation from customers and staff alike. The two guest speakers, who focused on inclusion in the workplace and inclusive health, did a phenomenal job.

Saturday, March 9, 2024

Union Bank Advocates for Inclusivity and Female Empowerment at 2024 International Women’s Day Celebration


Union Bank of Nigeria has re-emphasised its advocacy for an equitable and inclusive society devoid of biases, stereotypes, and discrimination. This assertion was recently made at a special event hosted by the Bank to commemorate this year’s International Women’s Day celebration under the global theme #InspireInclusion.

Tagged Ability Over Gender, the occasion provided the Bank with another unique opportunity to showcase its commitment to gender inclusivity and promotion of female excellence and competence across different fields of endeavour.

The event highlighted a keynote address by Union Bank’s new CEO, Yetunde B. Oni, who reiterated the financial institution’s commitment to continually champion the cause of women's advancement and other underrepresented communities while pushing for their inclusion and recognition in otherwise closed-off spaces.

A special panel session moderated by Chioma Nwokike, Head of Retail Segments and αlpher, followed soon after the keynote address. The panellists included Chinasa Collins-Ogbuo, Advocacy & Communications Lead at EFInA (Enhancing Financial Innovation & Access); Dr. Zahra Modibbo, Managing Partner, Débbo Africa; Olajumoke Daramola, Specialist Advisory Services Africa, Women’s World Banking; and Esohe Adetola, Learning Solutions Manager at Shell Nigeria, who lent their voices on how to change the narrative around inclusion and truly create an environment that enables women to truly thrive and excel ‘Because She Can’.

Speaking at the sidelines of the event, Olufunmilola Aluko, Chief Brand & Marketing Officer at Union Bank, said

“Union Bank, at its core, stands for equal representation and acknowledgement of the incredible skills and ability women bring to the table notwithstanding the industry or enterprise they engage in. The message behind this year’s theme is a call for everyone to strive for a fair, equitable world where individuals are judged and assessed on the depth of their capability rather than their biological makeup.”

                                     

Thursday, March 7, 2024

Tony Elumelu calls for privatization of electricity transmission lines to boost economic growth

 


Tony Elumelu, has urged the federal government to privatize the transmission lines to boost electricity supply and promote economic growth in the country.

Speaking to Bloomberg on Wednesday, Elumelu stated that revamping the electricity sector is critical for revitalizing the ailing economy, urging the government to take action.

He mentioned that the growth of the industry is being hindered by inadequate transmission lines and a shortage of liquidity in the electricity market.

Elumelu said that to develop the nation’s vast gas reserves for power generation, President Bola Tinubu’s administration should attract investors and permit the private sector to oversee the transmission lines.

In 2013, Nigeria privatized around 15 state-owned power generators, transferring them to private entities to boost efficiency, while the government-maintained control over the transmission infrastructure.

However, due to insufficient investment in these transmission assets, they remained inadequate and inefficient for delivering electricity to consumers.


Submit financial returns monthly or risk sanctions, CBN mandates microfinance, mortgage banks and DFIs


The Central Bank of Nigeria has mandated Microfinance banks, Primary Mortgage Banks (PMBs) and Development Financial Institutions (DFIs) to ensure they submit their financial returns monthly through the FinA application or risk sanctions.


The apex bank disclosed this in three separate letters signed by its Director of Financial Policy and Regulatory department, Valentine Ururuka, PhD to the financial institutions under the categories listed.


According to the letter, the CBN warned that all financial institutions under the categories listed should submit the monthly FinA on or before the 5th of the next month.

Tuesday, March 5, 2024

Ghana’s Central Bank Suspends Forex Licences Of GT Bank, First Bank Over Alleged Fraudulent Documents


The Ghanaian Central Bank on Tuesday suspended the foreign exchange licence of Guaranty Trust Bank and FBN Bank for one month. 

In a statement issued by the apex bank, the suspension will commence on March 18 and this comes barely three months after it barred eight money transfer organisations (MTOs) from offering remittance services without regulatory approval as the apex bank seeks to regulate the foreign exchange market. 

The statement added that the affected commercial banks committed various breaches of the foreign exchange market regulations, including submitting fraudulent documentation in their forex operations.

Reacting via a statement issued on Tuesday, Guaranty Trust Bank said it is “actively collaborating with the Bank of Ghana to swiftly address the trade-related issues leading to the suspension.” 

The bank also reassured customers that all other business operations remained unaffected as the suspension was limited to its foreign exchange segment. 

The suspension is in line with Section 11 (2) of the Foreign Exchange Act 2006,  which gives the Bank of Ghana the power to suspend a licence for a period instead of revoking it. h

The Bank of Ghana said in a statement that it would restore the banks’ licences after one month if it is satisfied that the banks “put in place effective controls” to ensure strict adherence to regulations. The apex bank also warned other financial institutions and called for strict adherence to forex market regulations and guidelines. 


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Monday, March 4, 2024

Sterling Bank, EAS To Grow FX Earnings For Nigerian SMEs.


Sterling Bank Ltd., Nigeria's leading commercial bank, has proudly announced a strategic partnership with Export And Sell Nigeria Limited (EAS), a leading international trade consultancy, to organize the "Export to Wealth" conference. This ground-breaking initiative which is being held between 6th – 7th of March 2024, aims to empower at least 2,000 export-ready businesses by providing practical tools and resources for successful sales on international retailing platforms.


The collaboration between Sterling Bank and Export and Sell Nigeria Limited represents another milestone in the lender’s continuing commitment to fostering economic growth and Nigerian empowering businesses of all sizes to thrive in the global market. Leveraging their expertise, both organizations will combine forces to create an impactful event that equips entrepreneurs with the skills and knowledge necessary to navigate the intricacies of international trade.

Tuesday, February 27, 2024

The Alternative Bank Fosters Rural Economic Growth in Katsina


The Katsina State Government via the State Governor, His Excellency, Dikko Radda, has aligned with The Alternative Bank’s mission to support rural economies through innovative financial solutions, tailored to empower local businesses and stimulate sustainable development across the state. This official endorsement marks a significant milestone for The Alternative Bank as it embarks on a new chapter in Katsina with the launch of its first branch in the state. 

During the visit, the Katsina State Governor, Dikko Radda, emphasised the importance of combating poverty, particularly in rural areas, urging the bank to collaborate with the state government in its efforts to address this challenge.

Represented by his Special Adviser on Banking, Malik Anas, the Governor expressed confidence in the success of The Alternative Bank in the region.

In his words, "One of our aims as a government is to enhance the growth of our people, especially those in rural areas. We seek the cooperation of The Alternative Bank in this area. We are ready to give the necessary support to the bank to forge ahead and contribute to the economic development of Nigeria."

Dr. Abdulmumin Usman, the Emir of Katsina, also expressed confidence in the bank's endeavours, setting the stage for a harmonious relationship between the financial institution and its proud Katsina community.

Hajiya Fatimah Radda, the governor's wife, echoed the state government's support for the bank and stressed the importance of including the less privileged, such as widows and orphans, in the bank's corporate social responsibility initiatives. She remarked, "It was found out that a large number of people living in the local governments of Katsina are largely unbanked, presenting a massive untapped opportunity for the bank."

Tuesday, February 20, 2024

Reps query Access Bank, Citi Bank, Ecobank, and Fidelity Bank over N11.632 trillion revenue collected


The House of Representatives has queried Access Bank, Citi Bank, Ecobank, and Fidelity Bank over N11.632 trillion revenue collected on behalf of Federal federal government through the REMITA platform between 2015 and 2022 fiscal years.

Rep. Bamidele Salam, Chairman, House Committee on Public Accounts, issued the query at the resumed investigative hearing on ‘alleged revenue leakages through the REMITA platform in Abuja.

The investigation also covered non-compliance with standard operating procedures and other allied service agreements.

The committee demanded all the agreements signed between all the participating domestic banks and Systemspec/REMITA during the period under review.

According to the records obtained by the News Agency of Nigeria (NAN), Access Bank collected a total sum of N2.661 trillion for 3,502,486 transactions between 2015 and 2022.

According to Access Bank record submitted to the Committee, a total sum of N2,660,974,062,151.62 in revenue was collected for the period under review.

Also, the sum of N858,734,455.99 was earned for the service rendered.

On its part, Citi Bank collected the sum of N643,427,225,110.96 between 2016 and 2022.

According to Citi Bank records submitted to the Committee, a sum of N2,435,932.34 was earned for a total of N34,656,636,415.24 transactions carried out in 2016.

Also, an N9,134,312.05 fee was earned for a total of N61,023,589,404.01 in transactions carried out in 2018.

Tuesday, February 13, 2024

How Kiptum and his coach were killed in accident


The car transporting marathon world record holder Kelvin Kiptum and his coach during a deadly accident on Sunday night was visibly destroyed when authorities moved it from the crash site on Monday.

The 24-year-old set the world record at the Chicago Marathon in October with a time of two hours and 35 seconds to surpass the mark of 2:01:09 run by compatriot Eliud Kipchoge in Berlin in 2022.



According to the police report, Kiptum was driving his Rwandan coach and a woman in a car near the Rift Valley village where he was born when the accident occurred.

The athlete lost control of the vehicle and veered off the road into a ditch, travelling for about 60 metres along it before crashing into a large tree.

Kiptum and Hakizimana died at the scene but the woman, 24-year-old Sharon Chepkurui Kosgei Keiyo, survived with serious injuries and was treated at a local hospital.

Monday, February 12, 2024

Access Holdings Names Bolaji Agbede as Acting CEO


Access Holdings Plc has announced the appointment of Ms. Bolaji Agbede as Acting Group Chief Executive Officer following the death of its Group Chief Executive Officer, Herbert Wigwe, in a helicopter crash in the United States on Friday.

In a notification to the Nigerian Exchange (NGX) Monday night, the company said the appointment of Ms. Agbede was subject to the approval of the Central Bank of Nigeria.

The company explained that until her appointment,   Ms. Agbede was the  company’s  most senior founding Executive Director  in charge of Business Support. 

Agbede has nearly three decades of professional experience cutting across banking and business consultancy.

ACAMB Mourns exit of ‘the fearless one ’ Dr. Herbert Wigwe, CEO of Access Holdings




It is with profound sadness and a heavy heart that The Association of Corporate & Marketing Communications Professionals in Nigeria Banks (ACAMB) extends its deepest condolences to Access Holdings Group on the tragic passing of its esteemed CEO, Dr. Herbert Wigwe, CFR.

 

The renowned business and corporate leader, along with his beloved wife, Doreen, and their cherished son, Chizi, lost their lives in a tragic helicopter crash in the United States of America.

 

Dr. Herbert Wigwe, affectionately known as 'The Fearless One,' was a visionary leader whose indomitable spirit, dedication, and exemplary contributions to the banking and financial sector in Nigeria, has left an indelible mark. His visionary legacy of hard work, social impact, generosity, philanthropy, education, and entrepreneurship was unparalleled, inspiring countless professionals within the industry and beyond.

Saturday, February 10, 2024

Helicopter carrying Herbert Wigwe, crashes in Carlifonia-Nevada Border


Reports indicate that a helicopter carrying Herbert Wigwe, the Group Managing Director and Chief Executive Officer of Access Holding, and five other people crashed around the Carlifonia-Nevada Border.

No official confirmation has been made from the bank holding company.

However, sources with knowledge of the matter confirm that Herbert Wigwe was on board the helicopter but cannot confirm if there were survivors.

Wednesday, February 7, 2024

Why Senegal's presidential election was postponement

Senegal's parliament has voted to postpone a presidential election from February 25 to December 15 extending President Macky Sall's mandate.

That's triggered widespread public outcry and potentially tarnishes Senegal's image as one of West Africa's more stable democracies.

Why, therefore, did Sall announce a delay?

He said it was because of a dispute over the election's candidate list, and alleged corruption within the constitutional body that compiled it.

In a surprise speech to the nation, hours before official campaigning was due to begin, he said these, quote, "troubled conditions could seriously undermine the credibility of the ballot by sowing the seeds of pre- and post-electoral disputes".

Tuesday, February 6, 2024

FG arraigns Ladi Adebutu over money laundering


The Federal Government on Tuesday arraigned Oladipupo Adebutu, the 2023 Ogun State Peoples Democratic Party (PDP) Governorship candidate before an Ogun State High Court sitting in Abeokuta, the State capital, on seven count charges, bordering on money laundering and other offenses, with case number AB/10c/2023 FRN Vs Adebutu &Ors.

Adebutu was accused of criminal inducement during the poll by security agents alongside other members of his party.

Appeal Court Orders FCMB to deposit N540M awarded to Prophet Omale accused of laundering money for Magu


The Court of Appeal in Abuja has ordered the First City Monument Bank (FCMB) to pay N540 million in damages over the defamation of Prophet Emmanuel Omale and his wife, Deborah, into an interest-yielding bank account of the Chief Registrar of the court.

The three-man panel of the appellate court in its unanimous ruling read by a Justice of the Court of Appeal (JCA), Justice Muhammed Shuaibu, further directed FCMB to deposit the said N540 million in the Court Registrar’s account within 48 hours.

The Court of Appeal gave the order on Thursday, February 1, 2024, while the Certified True Copy of its Enrolled Order dated February 2, 2024, was obtained on Sunday, February 4, 2024.

The appellate court gave the directive while granting a conditional stay of execution on the payment of the said N540 million in damages, pending the determination of the FCMB’s appeal in the matter.

The FCMB had appealed against the judgement of Justice Yusuf Halilu of the Federal Capital Territory (FCT) High Court in Abuja, asking the Court of Appeal to set aside the verdict of the lower court on the payment of N540 million in damages.

The FCMB is further asking the appellate court to stay the execution of the lower court’s judgment and restrain the Omales from taking steps to enforce the judgment in their favour.

Having listened to the arguments of the parties, the Court of Appeal directed in its enrolled order as follows:

“The application is granted as prayed in terms of the 1st prayer in the Appellant's motion filed on 3/11/2022.

“Consequently, conditional stay of execution of the judgment is hereby granted to the Appellant. The condition being that the judgment sum shall be deposited into an interest yielding bank account of the Court to be opened by the Chief Registrar of this Court within 48 hours of the grant of this Order.

“Appeal is adjourned to a date to be communicated to Counsel by the Registry.”

Dissatisfied with the judgment of the FCT High Court, the FCMB through his lead lawyer, Dr Wale Olawoyin (SAN), filed a Notice of Appeal dated October 5, 2022 against the final judgment.

Tuesday, January 30, 2024

Fidelity Bank supports Temile Development Company to boost Nigeria’s Gas Revenues


In what has been termed a significant milestone in the advancement of Nigeria's domestic gas industry and the generation of gas revenues, Temile Development Company Ltd -a key indigenous player in the oil and gas industry- recently commissioned a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) Carrier.

Named ‘Alfred Temile 10’, the vessel was part-financed by leading Nigerian bank -Fidelity Bank Plc- and was commissioned at the Hyundai Mipo Dockyard in Ulsan, South Korea. Dignitaries at the event included the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPC), Mallam Mele Kyari,OFR; Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe,OON; Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Luke Ekpo; the Charge D’Affairs Ad Interim of the Embassy of Nigeria in South Korea, Ambassador Ferdinand Nwonye; Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe; amongst others.

Hushpuppi petition to review 11-year prison sentence fails at US Appeal Court


Hushpuppi had appealed to the court for a review and ostensibly reduced his 11-year sentence, citing his sterling behavior during his stay in jail.

The efforts of the convicted internet fraud kingpin, Ramon Abbas popularly known as Hushpuppi, to reduce his 11-year sentence has met a brick wall as the Appeals Court for the Ninth Circuit in Los Angeles, United States has dismissed his application.

Abbas had 2022 convicted for money laundering and a series of online scams in tens of millions of dollars.

However, after reappraising his chances of success, he raised the motion to appeal the sentence. The motion was filed in November 2022, two weeks after Judge Otis Wright sent him to jail. 

The convict had enrolled in prison educational courses and also taken an active role in cleaning prison facilities, becoming one of the correctional facility’s top toilet cleaners, in a bid to earn a lighter sentence.

Still, the appellate judges remained implacable in their decision to deny his appeal.

The judgment was made on January 19. It was announced by Molly Dwyer, the court’s clerk, on behalf of the appellate judges.

It was not immediately clear whether he would file a fresh case to keep the hopes of his early release alive since his lawyers, John Iweanoge and Louis Shapiro, had already pulled out before the dismissal.

The denial for sentence appeal came days before Nigerians were dismayed by a viral video that seemingly showed someone believed to be Mr Abbas holding a feast with others inside what was reported as his detention facility at Fort Dix, New Jersey.

Emir Endorses The Alternative Bank in Kano

L-R: Executive Director with The Alternative Bank, Garba Mohammed and Emir of Kano, Alhaji Aminu Bayero during the inauguration of a branch of The Alternative Bank in Kano recently.

The arrival of Nigeria's largest ethical bank, The Alternative Bank, has been endorsed by the Emir of Kano, Alhaji Aminu Ado Bayero, as the bank opens its first stand-alone branch in the ancient city. The Emir made the remarks during the launch of the bank, describing it as a transformative force that will significantly impact individuals and businesses in the state.

Speaking during the inauguration of The Alternative Bank's newest branch, the Emir declared that the bank's presence in Kano marks the dawn of a revolutionary era in banking, marking a transformative shift in the financial landscape of the state.

Sunday, January 28, 2024

Former Miss Commonwealth Nigeria, Queen Aderinoye Christmas, Declared Wanted For Drug Trafficking


Former Miss Commonwealth Nigeria Culture for 2015/2016 and founder of Queen Christmas Foundation, Ms. Aderinoye Queen Christmas, also known as Ms. Queen Oluwadamilola Aderinoye, has been declared wanted by the National Drug Law Enforcement Agency (NDLEA).

It was learnt that the ex-beauty queen fled her Lagos residence when NDLEA personnel raided her apartment at Oral Estate in Lekki on Wednesday, January 24 following credible intelligence that she deals in illicit substances.

This is contained in a statement issued on Sunday by Femi Babafemi, NDLEA Director of Media and Advocacy.

According to Babafemi, 606 grams of Canadian Loud, a synthetic strain of cannabis, an electronic weighing scale, large quantities of drugs packing plastics, a black RAV 4 SUV marked Lagos KSF 872 GQ, and her picture frame among others were recovered from her home.

Friday, January 26, 2024

Lagos PDP Urges Swift Action on Abduction of Chairman, Philip Aivoji


The Lagos State chapter of the Peoples Democratic Party (PDP) urgently calls upon security agencies and government authorities at all levels to intervene promptly and secure the release of our Chairman, Mr. Philip Aivoji.

Ex- MTN Staff Files Motion to Compel MTN to Deposit Judgment Debt and Interest to Court of Appeal


The former expatriate staff of the MTN Group, Mr. Paul Odunewu, has filed a further-reply-affidavit and written address dated December 28, 2023, at the Court of Appeal, Lagos Division, in support of his application praying the Court  for an Order to compel the telecommunications giant  MTN,  to deposit with  the Court the judgment debt and accrued interest as ordered by the National Industrial Court Nigeria (NICN), Akure Division.

In a judgment delivered by Honourable Justice Oyejoju Oyewunmi on September 17, 2017, the trial Court had found that the termination of the employment of the former Network Group Operations Manager on February 28, 2006, was wrongful and malicious; and had ordered the company to pay Mr. Odunewu’s entitlements including share options valued at $13,144,512.00.

Wednesday, January 24, 2024

ACAMB Elects New Executive Committee to drive its next phase of Growth

 


…as new President harps on collaboration

L-r: ACAMB Exco; Financial Secretary, Halima Isha of JAIZ Bank; Treasurer, Morolake Philip-Ladipo of Wema Bank; Vice President (VP)1, Oze K Oze of FirstvBank; President, Rasheed Bolarinwa of Polaris Bank; VP2: Tolulope Onipede of Guaranty Trust Bank; General Secretary, Jide Sipe of ECOBANK; Assistant General Secretary, Iyke Iheagwam of Access Bank; Publicity Secretary, Omede Odekina of United Bank for Africa (UBA); and Social Secretary, Ozena Utulu of Heritage Bank at the ACAMB Annual General Meeting (AGM) and election of New Exco, held at CIBN House, Lagos.

US determined to remain strong security partner for Nigeria -Blinken


Secretary of State Antony Blinken on Tuesday said the United States is determined to remain a strong security partner for Nigeria, whose military is backed by the U.S., Britain and other allies in a long war against Islamist insurgents.

Blinken also discussed challenges to democracy and security in the region during his meeting on Tuesday with Nigerian President Bola Tinubu in a visit that comes after last year's coup in neighboring Niger, one of a series of coups or attempted power grabs over the past few years in West and Central Africa.

Blinken said that he discussed how it is vitally important there be a focus on ensuring civilians are protected and humanitarian considerations.

On the Issue of Israel's war with Gaza, Blinken's Nigerian counterpart Yusuf Tuggar said there was commonality between their countries on a two-state solution for Palestine and Israel

 

Thursday, January 18, 2024

How Kuda missed projection despite raising $20m valuation in 2023


Babs Ogundeyi, Kuda’s co-founder and CEO announced that the bank had reached almost N56 trillion in transaction value and seven million retail and business customers since its launch in 2019. Despite this success, the figure falls short of the fintech’s projections for the year, according to a TechCrunch report.

Early last year, Kuda pitched for a new cash injection. While it had five million users, it predicted a doubling of the figure by the end of 2023. Eventually, the bank raised an estimated $20 million in the middle of 2023, however, the bridge round closed at the same $500 million valuation it achieved in 2021 when it raised a $55 million Series B round.

Wednesday, January 17, 2024

King Charles diagnosed with enlarged prostate


As the royal prepares to attend hospital within days to be treated for the condition, King Charles is said to have been at his private residence in Balmoral when he was diagnosed with an enlarged prostate.


Fidelity Bank to Promote young Writers Nationwide with Its Read2Lead Initiative


As part of its Corporate Social Responsibility (CSR) initiatives designed to empower Nigerian youths with quality education, leading financial institution, Fidelity Bank Plc, has launched a creative writing competition for secondary school students dubbed Read2Lead.

Themed Read2lead, the three-stage competition would see secondary school students hone their reading and writing skill while competing for millions of naira in cash rewards, a book publishing deal, and the chance to have their school library renovated by the bank.

At the end of the 3 staged competition, the star prize winner would go home with N2 million cash, a book publishing deal worth N2 million and another N2 million to upgrade his/her school’s library; the first runner-up will receive a N1.5 million cash prize; and the second runner-up will be awarded N1 million.

The first stage of the Read2Lead initiative, tagged, “The National Writing Showdown”, would see participants from across Nigeria compete for a coveted spot among the top 150 writers through a creative writing task. Successful students would thereafter move to the second stage known as “The Sweeta Writing Mastery”, where they would be tasked with writing an alternate ending for one of the selected books they would be asked to read. In the third and final stage themed, “The Author's Workshop”, the top 30 participants would participate in an immersive writing boot camp which would be anchored by experienced writers and facilitators who would also select the top three finalists.

To sign up your child or ward for the initiative, please visit www.fidelitybank.ng/readtolead .

Registration ends on January 31, 2024.

Tuesday, January 16, 2024

US to return $8.9m looted under Jonathan to Nigeria


A Royal Court in Jersey, United States, has reportedly ruled that stolen assets worth £6.9m ($8.9m) be repatriated to Nigeria.

The said assets were allegedly diverted by Nigerian government officials in 2014 under the guise of purchasing arms to fight Boko Haram terrorists.

According to BBC, the court ruled that the money, deposited in a Jersey bank account, was likely stolen by officials in the Nigerian Government in 2014.

Controversies had surrounded the purchase of weapons in the fight against insurgency with the then National Security Adviser, Sambo Dasuki, being accused of diverting funds meant for security equipment during Jonathan’s administration.

Wednesday, January 10, 2024

Globus Bank Staff Commits Suicide With Snipper


A 32-year-old marketing staff of Globus Bank, Amarachi Ugochukwu, was found dead at its branch in Ikorodu, Lagos.

The deceased was said to have died by suicide.

The sad incident occurred on Monday, January 8, 2024.

Source, the late Ugochukwu’s lifeless body and a bottle of Sniper insecticide were found in the staff toilet of the branch during the search for her whereabouts after she was discovered missing from her desk.

One of the office toilet doors was noticed to have been locked from behind and was forcefully opened, where her motionless body was discovered.

"Our CEO Not Arrested By EFCC, He's on Duty - Zenith Bank Speaks


Zenith Bank PLC, one of Nigeria's leading financial institutions, has dismissed as entirely untrue reports on the purported arrest of its Group Managing Director, Dr. Ebenezer Onyeagwu, in a section of the media.

The reports had claimed Dr Onyeagwu was arrested by the EFCC in connection with alleged fraud at the Ministry of Humanitarian Affairs. 

The foremost lender however clarified that the GMD was neither arrested nor detained by the EFCC or any other anti-graft agency, adding that he is currently fulfilling his duties and responsibilities as the Group Managing Director of Zenith Bank Plc.

Zenith, Providus, Jaiz Bank CEOs Arrested By EFCC Over Contracts Awarded By Betta Edu


The Chief Executive Officers (CEOs) of Zenith, Providus, and Jaiz banks have reportedly been arrested by the Economic and Financial Crimes Commission (EFCC) following their link to fraud allegations surrounding suspended and former Ministers of Humanitarian Affairs, Betta Edu and Sadiya Umar-Farouq.

A source close to The Guardian confirmed the development saying Dr. Ebenezer Onyeagwu (Zenith Bank), Haruna Musa (Jaiz Bank), and Walter Akpani (Providus Bank) were arrested on Tuesday.

Tuesday, January 9, 2024

ACAMB Announces Burial Arrangements for Abdul Imoyo


With the permission of Imoyo Family, The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) is deeply saddened to announce the burial details for its distinguished Publicity Secretary, Mr. Abdul Kolawole Imoyo, who passed away in the early hours of Sunday, December 17, 2023, at First Cardiology, Ikoyi, Lagos, after a brief illness.

Mr. Imoyo, a highly regarded Corporate Media Manager and Journalist, leaves behind a legacy of excellence in the field of Corporate Ccommunications.

The burial arrangements, as communicated by the Imoyo family, are as follows:

Service of Songs:

Date: January 17, 2024

Time: 5pm 

Venue: Harbour Point Event Center, 4 Wilmot Point Road, Victoria Island, Lagos

Funeral Service:

Date: January 18, 2024

Time: 5pm 

Venue: RCCG Olive Tree Parish, Banana Island Road, Ikoyi, Lagos

Interment:

The interment is strictly private and reserved for family members and few invited guests. 

Rasheed Bolarinwa 

 President, ACAMB

Monday, January 8, 2024

Prophet TB Joshua: Five things BBC investigation said about late televangelist


The British Broadcasting Corporation (BBC) on Monday said it has uncovered evidence of widespread abuse and torture by the late Prophet Temitope Balogun (TB) Joshua, the founder of the Synagogue Church of All Nations (SCOAN).

The BBC in its report said that dozens of former members of SCOAN including five British nationals have alleged atrocities committed by the late TB Joshua.

According to the BBC, SCOAN did not respond to the allegations but said previous claims have been unfounded.

Here are five of the allegations against TB Joshua in the two-year investigation.

Sunday, January 7, 2024

Tinubu orders suspends Betta Edu over fraud allegations


Mohammed Idris, the Honorable Minister of Information and National Orientation of Nigeria, issues this statement to address the widespread information circulating regarding the use of public funds by the Ministry of Humanitarian Affairs and Poverty Alleviation.

The Ministry of Information and National Orientation acknowledges the concerns raised by the public regarding the alleged payment of funds into a private account by the Ministry of Humanitarian Affairs and Poverty Alleviation. We are aware of the narratives circulating widely and wish to assure Nigerians that the Government takes these issues most seriously.