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."

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.

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.

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.

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.

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".

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.