Oshiomhole, passengers accuse Air Peace of extortion in viral video

A new video has emerged on social media platforms, showing Adams Oshiomhole, former Edo State Governor, alongside other disgruntled Air Peace passengers protesting the airline’s demand for an additional fee on Wednesday, despite their early arrival. In a five-minute video on Facebook seen by FIJ, Oshiomhole is seen telling an Air Peace staff member that it was the third time the airline had disrupted his schedule due to their incompetence. “For the third time, you are messing me up. You have to tell your people to stop collecting money from…

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Jesam Michael, Afriq Arbitrage System CEO arraigned for alleged scam

The Economic and Financial Crimes Commission (EFCC) on Tuesday, June 10, 2025, arraigned Jesam Michael and his company, Afriq Arbitrage System Limited, before Justice Obiora Egwuatu of the Federal High Court in Abuja over an alleged investment scam. They were arraigned on a seven-count charge bordering on obtaining by false pretence, operating without a license, and fraud. Count one of the charge reads: “That you JESAM MICHAEL UBI and AFRIQ ARBIQ ARBITRAGE SYSTEM LIMITED between September 2022 and June, 2023 in Abuja within the jurisdiction of this Honorable Court whilst…

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How Dangote officials, others diverted company’s N4bn diesel – Police

An Indian national, Tukur Shamsudden, along with 12 other Dangote officials, were on Tuesday arraigned by operatives of the Police Special Fraud Unit, Ikoyi, Lagos, over alleged conspiracy and unlawful diversion of diesel, valued at over ₦4 billion, belonging to Dangote Industries Limited. The accused were brought before Justice Deinde Dipeolu of the Federal High Court, including the Indian citizen. The other defendants arraigned are: Ikechukwu Obi, Chigozie Osukwu, Ukaegbu Chukwuma, Umeh Ugochukwu, Emmanuella Akamadu (female), Zango Umar, Emmanuel Oku, Shaibu Michael, Lucky Otoide, Mmaduabuchi Okezuonu, Ephraim Kanakapudi, and Omojowo…

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Ekpe takes over as Dangote steps down from Dangote Sugar

Aliko Dangote has retired as Chairman of the Board of Dangote Sugar Refinery Plc, bringing an end to a 20-year leadership of the company. His retirement takes effect from June 16, 2025, according to a statement signed by the company’s secretary, Temitope Hassan, on Wednesday. Dangote, who has been at the helm of leadership since 2005, is credited with steering Dangote Sugar into a market leader in Nigeria’s sugar industry, overseeing major expansion projects and strengthening corporate governance. “In line with the principles of good corporate governance and succession planning,…

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N181bn Debt: Access Bank seeks court order to freeze MTN assets

The Federal High Court in Lagos has ordered MTN Nigeria Communications Plc to appear and show cause why it should not be subjected to asset-freezing reliefs sought by Access Bank Plc and three other firms over an alleged debt totaling ₦180.95 billion. Justice Akintayo Aluko issued the directive while ruling on an ex-parte application in Suit No: FHC/L/CS/1004/2025, filed by Access Bank and three companies currently under receivership—Multi-Links Telecommunications Limited, Capcom Telecoms Limited, and Cyancom Limited. The applicants, represented by Senior Advocate of Nigeria Mr. Kunle Ogunba (SAN), are seeking…

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Real estate woman, Okonjo Udokanma in trouble as court freezes her company accounts over $97k debt

A Federal High Court in Lagos has granted an interim order freezing the bank accounts of Okonjo Udokanma, the CEO/Executive Vice Chair of Fine and Country International (West Africa), a real estate firm, over an debt of $97,982.19 owed to Providus Bank. Justice Lewis Allagoa, who presided over the matter, issued an interim freezing injunction restraining Mrs. Udokanma and her agents from withdrawing, transferring, or tampering with any funds in her accounts across six commercial banks—up to the debt amount or its naira equivalent at the prevailing Central Bank of…

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Zenith Bank wins Nigeria’s Best Bank award at Global Finance Best Banks 2025

Zenith Bank Plc has been named “Best Bank in Nigeria” in the Global Finance Best Banks Awards 2025, winningthe award for the fifth time in six years. The Bank was among winners from 36 countries in Africa recognised by the prestigious Global Finance in its 32nd Annual Best Bank Awards. The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success. Winning organizations managed their assets and liabilities in a savvy…

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Its a strong endorsement for Oyebanji -Ekiti State hails Commonwealth Institute’s rating

Ekiti State Government has hailed the latest release of the Commonwealth Institute of Advanced and Professional Studies (CIAPS) Governance Performance Index (CGPI), which ranked Ekiti State fourth alongside Abia among all States in Nigeria for overall governance performance. In a statement made available to newsmen in Ado Ekiti, the State Commissioner for Information, Rt. Hon. Taiwo Olatunbosun described the rating as another strong endorsement of Governor Biodun Oyebanji administration’s unwavering commitment to transparency, accountability, inclusive development, and effective public service delivery. Describing the recognition as a motivation to do more…

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Oyebanji flags off ‘Ikun Milk Day’, set to add milk to FG’s School Feeding Programme

Ekiti State Governor, Mr Biodun Oyebanji has announced plans by his administration to include milk in the Federal Government’s School Feeding Programme for all primary school pupils in the state once the initiative resumes. This, according to the Governor, is part of efforts to enhance the nutritional value of the meals and support the welfare of the children for improved academic and general performance. Governor Oyebanji stated this on Wednesday during the flag off of “Ikun Milk Day” which is a weekly free milk programme for primary school pupils in…

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Ex-PDP chairman’s son, Mamman Ali, accomplice jailed over N2.2bn subsidy fraud

Justice Mojisola Dada of the Special Offences Court in Ikeja on Tuesday sentenced two oil marketers, Mamman Ali and Christian Taylor, to 14 years in prison each for their involvement in a ₦2.2 billion fuel subsidy fraud. The two men, along with their company, Nasaman Oil Services Limited, were facing an amended 57-count charge following the emergence of new evidence. Initially arraigned on 49 counts, they were accused of conspiracy to obtain money under false pretences, forgery, and use of falsified documents. All defendants had pleaded not guilty. One of…

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Tunji-Ojo at Access Bank GLS, advocates purpose-driven leadership

Hon. Dr. Olubunmi Tunji-Ojo, Minister of Interior, delivered a compelling charge to public and private sector leaders at the Access Bank Guest Lecture Series (GLS) held on Friday at the Bank’s headquarters in Victoria Island, Lagos. Speaking on the theme “Dare to Dream, Dare to Innovate,” the Minister outlined a sweeping vision for innovation-driven governance, ethical leadership, and urgent reform in the country’s correctional system. In his keynote address, Tunji-Ojo drew on his background as an ethical hacker to illustrate how great leadership, like in cybersecurity, must be proactive, identifying…

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How N106m mysteriously vanished from UBA customer’s bank account

The United Bank for Africa (UBA), chaired by Tony Elumelu, is currently facing public backlash over alleged N106 million that mysteriously vanished from a customer’s account under questionable circumstances. The controversy erupted just weeks after the Lagos State Police Command arrested four UBA officials for allegedly stealing £138,924 (over ₦270 million) from international airlines’ accounts. According to police investigations, the suspects had reportedly conspired to siphon funds from domiciliary accounts into private accounts and later redistributed them to multiple beneficiaries. In the latest incident, Ibhahe Hope Ehieribo, a U.S.-based Nigerian…

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NASSI, SBC roll out grants to support SMEs

The Nigerian Association of Small-Scale Industrialist(NASSI) has rolled out funding opportunities for small and medium scale enterprises across the 36 states in Nigeria. The grant competition sponsored by the SME Scale-Up and Seven-up bottling company aims to support Small and Medium Sized Enterprises(SMEs) in Agro-processing, Manufacturing, Services, Technology, Education, Fashion and creative businesses. The Director General of NASSI; Engr. Ifeanyi Oputa said during a press briefing that this business grant will foster growth, innovation and small businesses will gain the opportunity to invest in new technologies, products, or services that…

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ICPC battles Access Bank in court over alleged N826m money laundering

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned Access Bank Plc and one of its employees, Abdulmalik Abubakar in court over the alleged money laundering and diversion of N825.9 million. The anti-graft commision filed a four-count charge against them at the Federal High Court over alleged diversion of N825.9 million ofvstate funds into a fraudulent account. The charges, filed by the federal government, followed an investigation by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), according to court documents seen by this newspaper. The…

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Opay, Moniepoint, Kuda, Fairmoney fintech banks in trouble over company’s N95m illegal withdrawal

Trouble seems to be lurking around the managing directors of Moniepoint, Mr. Babatunde Olofin and several banks managing director as International Concept Ltd filed an application at the Federal High Court in Lagos seeking to commit them to prison for contempt of court. This followed repeated attempt to recover a sum of a cumulative N95 million which was illegally withdrawn from the company’s account with different banks including Moniepoint. The respondents include, Mr. Babatunde Olofin, MD of Moniepoint Microfinance Bank, Mr. Musty Mustapha, MD of Kuda Microfinance Bank, Mr. Henry…

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Manager, four others arrested over Premium Trust Bank’s cyberattack

A Federal High Court sitting in Lagos has remanded five individuals—including a bank manager and a nursing mother—over their alleged involvement in a cyberattack on the server of Premium Trust Bank. The defendants are Matthew Adeniyi Damilola, E-Payment Service Manager at the bank; Kehinde Odeyemi, a nursing mother with a four-month-old baby; Samson Latshin Dakup, Bolaji Omotosho Yinka, and Sunday Badeniyi Okunnola. Arraigned before Justice Alexander Owoeye, the five were charged by the Economic and Financial Crimes Commission (EFCC) on a six-count indictment bordering on conspiracy, cybercrime, and unauthorized access…

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CBN retains 27.50% interest rate again

The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 27.50 per cent, marking its second consecutive hold in 2025. This decision was announced by the CBN Governor, Olayemi Cardoso, during a press briefing on Tuesday in Abuja, following the conclusion of the MPC’s 300th meeting. This second pause in rates comes after six consecutive hikes recorded in 2024. Cardoso said, “The Committee was unanimous in its decision to hold policy and thus decided as follows: Retain the MPR at 27.50 per cent,”…

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Olubadan, Soun kick against move to make Alaafin permanent chairman of Oyo state Council of Obas and Chiefs

Traditional leaders and stakeholders from Ibadanland and Ogbomosoland have strongly opposed a proposed legal amendment by the Oyo State House of Assembly seeking to make the Alaafin of Oyo the permanent chairman of the state’s Council of Obas and Chiefs. The opposition was contained in a joint statement issued on Monday in Ibadan and signed by Mogajis, Baales, monarchs, the Central Council of Ibadan Indigenes, the Ibadan Compounds Peace Initiative, prominent sons and daughters of Ibadanland, and Mogajis from the Soun Ruling Houses of Ogbomoso. The bill to amend the…

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Relief for Nigerian farmers Fintech launches credit for stored crops as collateral

For decades, Nigerian farmers have remained central to the nation’s economy, sustaining food systems and rural livelihoods. Yet, despite their critical role, they remain largely excluded from the formal financial system due to a lack of traditional credit histories, collateral, or access to banking infrastructure. Now, a new partnership between Nigerian fintech company SeedFi and agritech platform Winich Farms is poised to change that. Together, they are introducing a pioneering initiative: produce-collateralised loans. This allows farmers to use their stored crops as collateral, bypassing the conventional demands of paperwork or…

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Access Bank secures N160.2bn DFI loan to fund female entrepreneurs in Nigeria

Nigeria’s leading 3rd tier bank, Access Bank Plc has secured a $100 million senior loan facility from a consortium of global Development Finance Institutions (DFIs) led by Germany’s DEG. The consortium also includes FinDev Canada, ILX (Netherlands), and Austrian DFI OeEB, marking a strategic boost for Nigeria’s MSME sector and female-led enterprises. The facility will enable Access Bank to extend funding to privately-owned MSMEs, small corporates, and family-owned businesses across Nigeria. A key feature of the agreement is the allocation of at least 30% of the loan toward gender-lens investing,…

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Why Abacha’s Varsity shut female hostel

The management of Maryam Abacha American University of Nigeria has ordered the immediate closure of Al-Ansar Indabo female students’ hostels located at Hotoro and UDB Road in the Kano metropolis over safety and disciplinary concerns. This was disclosed in a statement issued on Monday, by the university’s Vice President, Campus Life, Dr. Hamza Garba. The university also announced the withdrawal of its approval for the use of the hostels following reported violations of its code of conduct. According to the statement, the decision was taken as part of MAAUN’s efforts…

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Oyebanji highlights potentials of Ekiti Knowledge Zone

Ekiti State Governor, Mr Biodun Oyebanji has restated the transformation potential of the Ekiti Knowledge Zone, describing it as a project that will redefine the state’s economic and industrial landscape, create prosperity and drive sustainable development. Governor Oyebanji stated this on Thursday during a meeting with the team from African Development Bank (AfDB) led by the Chief Development Economist, Ms Rosemond Offei-Awuku and the Federal Ministry of Finance team led by Dr (Mrs) Akande Oyebola who were in the state on a supervisory mission to the Ekiti Knowledge Zone. Emphasizing…

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Tinubu names Akpabio, Tsenyil, Akinola MDs for development commissions

President Bola Tinubu has appointed managing directors and governing boards for the newly established development commissions representing Nigeria’s north-central, south-west, and south-south regions. In a letter read on the Senate floor by Senate President, Godswill Akpabio on Thursday, Tinubu requested the red chamber’s confirmation of the nominees. NORTH-CENTRAL DEVELOPMENT COMMISSION President Tinubu nominated Cosmas Akyhir from Benue State as chairman of the commission’s board. Tsenyil Yiltsen, a native of Plateau, was appointed as managing director. Board members include: James Uloko (Benue), Atika Ajanah (Kogi), Bilgis Jumoke Sanni (Kwara), Aishatu Ibrahim…

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Supreme Court returns Fred Ajudua back to prison, overturns A’Court’s ruling

The Supreme Court on Friday overturned a decision of the Court of Appeal that granted bail to Lagos businessman, Fred Ajudua, who is standing trial for allegedly defrauding a German company of $1 million. In a unanimous ruling, the apex court held that the Appeal Court erred in granting bail and ordered Ajudua’s return to correctional custody. The court also directed Justice Mojisola Dada of the Lagos State High Court to resume hearing of the criminal trial. Ajudua was initially charged before Justice Josephine Oyefeso of the Ikeja High Court,…

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Sunsteel boss, Olalekan Adewoye arraigned for ‘$680,622.65 fraud’ by EFCC

Olalekan Adewoye, the chief executive officer of Sunsteel Industries Limited, has been arraigned by the Economic and Financial Crimes Commission (EFCC) for alleged financial fraud. The businessman was arraigned on Thursday alongside two of his companies – SUNLEK INVESTMENTS LIMITED and SUNSTEEL INDUSTRIES LIMITED – before Justice Mojisola Dada at the Lagos State High Court, Ikeja. The trio are facing a two-count charge of stealing and obtaining property by false pretence amounting to $680,622.65. One of the charges reads: “That you, Olalekan Adewoye, Sunlek Investments Limited and Sunsteel Industries Limited,…

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FirstBank, EStars forge innovative partnership to elevate ESports education

FirstBank, the West African premier bank and financial inclusion service provider, is proud to announce a strategic collaboration with EStars Education Africa Limited (EStars), a global leader in educational esports. Empowering the Next Generation of Esports Professionals The partnership provides a platform for FirstBank to support the rollout of EStars’ comprehensive esports qualifications, including entry-level Certificates and BTEC courses in esports. These programmes are designed to equip students with the necessary skills and knowledge to excel in the burgeoning esports industry. Innovative Financial Solutions for Gamers In addition to educational…

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How Pilot’s error, negligence caused Wigwe’s helicopter crash

The United States National Transportation Safety Board has attributed the helicopter crash that killed former Access Holdings CEO, Herbert Wigwe, his wife, son, and three others to pilot error caused by spatial disorientation. The NTSB report, released on Wednesday, further indicted the helicopter company, accusing it of “inadequate oversight of its safety management processes”. This was contained in the NTSB final report unravelling the reasons for the helicopter crash in February 2024. Preliminary report had earlier shown that the helicopter, registered as N130CZ, crashed while operating under visual flight rules…

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I am battling cabals for survival -Dangote

Alhaji Aliko Dangote, the President of Dangote Group, says he is still battling for the survival of his $20bn refinery, stressing that a strong cabal is out for the jugular of his $20bn refinery. Dangote expressed optimism that he would win the fight for the refinery, stating his determination to fight on. According to Semafor, an international news medium, Africa’s richest man spoke at an investor forum in Lagos on Friday. The report stated that Dangote pointed out that some individuals who “for a very, very long time” have “made…

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GTCO Sustains Profitability Momentum with Growth in Core Income – Declares PBT of ₦300.4Billion in Q1 2025

Guaranty Trust Holding CompanyPlc (“GTCO” or the “Group”) has released its Unaudited Consolidated and SeparateFinancial Statements for theperiodended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦300.4billion on the back of strong performance posted on the core earnings lines of interest income which grew y-o-y by 41.1% and fee income up by 41.2%.The strong performance enabled the group to douse the impact of the ₦331.6billion fair value gains recognised in Q1-2024 which did not recur in Q1-2025.…

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GTCO Food and Drink Festival 2025: A Shared Experience of Culture, Cuisine, and Enterprise

Lagos, Nigeria—29 April 2025 – The stage is set for Africa’s most anticipated celebration of food, drink, and culture as Guaranty Trust Holding Company Plc (GTCO) announces the 8th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 2nd to Sunday, May 4th, 2025, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos. This year’s festival is themed “A Shared Experience”, highlighting how every meal tells a story—stories of culture, community, and tradition that unite people across generations and geographies. The 2025 edition…

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EFCC arrests E-Money for money laundering

Emeka Okonkwo, aka, E-Money, a popular music executive and businessman has been arrested by the Economic and Financial Crimes Commission (EFCC). E-Money, the Chief Executive Officer of Emmy Cargoes Nigeria Limited and Five Star Music, was taken into custody on Tuesday morning in Lagos over allegations of naira abuse and defacing of foreign currency. According to sources within the anti-graft commission, E-Money is being investigated for allegedly spraying both the naira and U.S. dollars at a recent social event in Lagos—an act that contravenes Nigeria’s currency laws and the Foreign…

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Money Laundering: EFCC arrests wanted bizwoman, Aisha Achimugu

Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested controversial Nigerian businesswoman and socialite Aisha Achimugu. Her arrest was disclosed in a statement by her legal team on Tuesday. According to the statement, Achimugu was arrested at Nnamdi Azikiwe International Airport in Abuja around 5 a.m. on Tuesday, shortly after arriving from London. Achimugu was declared wanted by the EFCC a month ago for alleged money laundering and other offences. The development is coming after a Federal High Court in Abuja mandated Aisha Achimugu to appear before the…

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Zenith Bank pays N195.67bn dividends to shareholders, promises quantum leap in future

Shareholders of Zenith Bank Plc, at the 34th Annual General Meeting (AGM) held at the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, approved the proposed final dividend payment of NGN4.00 per share, bringing the total dividend for the 2024 financial year to NGN5.00 per share, with a total value of NGN195.67 billion. The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for their unflinching support and commitment, which have been responsible for the bank’s stellar performance over the years. He noted that…

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EFCC secures court order to arrest, detain six CBEX promoters

The Federal High Court in Abuja has approved the request of the Economic and Financial Crimes Commission to arrest and detain six promoters of Crypto Bridge Exchange over an alleged investment fraud amounting to over $1 billion. Justice Emeka Nwite gave the order on Thursday after listening to submissions from the EFCC’s lawyer, Fadila Yusuf. The six individuals named in the ex parte motion filed on April 23 are Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim. The EFCC sought the court’s permission to arrest…

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Hackers hit Union Bank, steal depositors’ N93bn

Union Bank of Nigeria Plc is currently grappling with a massive N9.3 billion fraud following a significant operational system breach. . The development comes exactly one year and three months after the Central Bank of Nigeria (CBN) sacked the bank’s board and entire management, citing governance failures. A new management team was subsequently appointed to lead the financial institution. Union Bank is battling to recover the sum of N9,329,322,870.00 (nine billion, three hundred and twenty-nine million, three hundred and twenty-two thousand, eight hundred and seventy naira), withdrawn from customers’ accounts…

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GTCO Plc pays record dividend of N8.03k for 2024 Financial Year

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦1.266trilion, representing an increase of 107.8% over ₦609.3billion recorded in the corresponding year ended December 2023. This performance reflects not just strong earnings but also the quality and sustainability of our earnings, underpinned by a well-diversified revenue base, robust risk management practice, and disciplined capital management. The…

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FirstBank issues official statement on appeal case with GHL

INJUNCTION AND STAY OF EXECUTION CARGO REMAINS UNDER ARREST In a surprising twist of events, its decision delivered today, the Federal High Court in a surprising shift from the true nature of FirstBank ’s claim held that the matter is not a maritime claim but rather, a simple case of debt recovery. This is quite surprising considering the fact that the order sought is to prevent further fraudulent sale of crude on the FPSO. Shockingly, the court also held that the Arrest Order against the cargo, because it was exparte…

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Zenith Bank’s PAT soars above N1trn in full 2024, prospects N4.00 final dividend

Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering significant growth across key performance indicators. The Bank’s impressive performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry. According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit year-on-year (YoY) growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to…

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Lagos/Ogun Multi-sector Trade Fair: Organizers declare free to attend fair, expect 100k visitors

Organisers of the forth coming Lagos/Ogun Multi-sector Tradefair have announced that the 4-day free to attend event is expected to attract over 100,000 visitors from across Nigeria and beyond. The trade fair, scheduled to run from April, 16-19, 2025 at De Blue Roof Event Centre, Lateef Jakande road Agidingbi, Ikeja, will feature about 120 exhibitors showcasing their products and services across various sectors, including agriculture, manufacturing, technology, and more. “We are excited to host the Lagos/Ogun Multi-sector Trade fair, which has become a premier platform for businesses to connect, innovate,…

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GTCO Transforms Lives with Waste-for Gas Initiative, Distributes 3,000 Gas Cylinders to Obafemi Owode Community

As part of its ongoing efforts to enhance the quality of life for households and empower women in underserved communities, GTCO PLC at the weekend launched its Waste for Gas initiative which saw over 3,000 residents of Obafemi Owode Local Government Area of Ogun State, receive a unit each of a 3kg gas cylinder. Speaking about the initiative, the Group Chief Executive Officer, GTCO PLC, Mr. Segun Agbaje noted that beyond delivering innovative financial solutions, the institution is deeply committed to making a meaningful impact in the communities where it…

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FirstBank’s topshot forfeits N1.1bn, $392,818 fraud money to FG

A former top official of First Bank of Nigeria, Muiz Tijani Adeyinka, has forfeited the sum of N1,168,602,877.44; $392,818.01 and £35,070 recovered from him to the Federal Government. Justice A. O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, ordered the final forfeiture of the monies on Tuesday. The judge gave the order following a motion on notice for the final forfeiture which was supported with an affidavit deposed to by Isah Yusuf Nadabo, an investigator with the Economic and Financial Crimes Commission, EFCC. Justice Owoeye had, on…

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Zero Processing Fee; GTBank Removes POS Processing Fees to Support Businesses

Guaranty Trust Bank Ltd has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions. This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers. With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience. Speaking on the initiative, Miriam Olusanya,…

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Habaripay’s Squad announces dates for take on Squad Hackathon 2.0, invites applications from young innovators across Africa

HabariPay’s Squad, payment fintech subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group”), today announced dates for its annual social coding competition. Building on the success of the inaugural edition, “Squad Hackathon 2.0” is set to take place from the 13th–15th of March 2025 at the state-of-the-art GTCO Training Complex, Tayo’s Plaza, Abeokuta, Ogun State. Launched in January 2024, Take on Squad Hackathon is designed to foster creativity, collaboration, and problem-solving skills among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital solutions…

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Ex-Firstbank staff forfeits billions to FG

Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of the sums of N1,168,602,877.44, (One Billion, One Hundred and Sixty Eight Million, Six Hundred and Two Thousand, Eight Hundred and Seventy Seven Naira, Forty Four kobo) $392,818.01 (Three Hundred and Ninety Two Thousand, Eight Hundred and Eighteen United States Dollars, One Cent) and £35,070 (Thirty Five Thousand, Seventy Pound Sterling) recovered from one Muiz Tijani Adeyinka, a former employee of First Bank of Nigeria, FBN, to the Federal Government of Nigeria, FGN.…

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NERC issues gudelines on electricity tariff hike

As controversies trailed the purported electricity tariff hike by the Federal Government, the Nigerian Electricity Regulatory Commission has issued regulations on the procedure for tariff reviews. The latest order, signed by NERC Chairman, Sanusi Garba, stated that pursuant to the provisions of the Electricity Act 2023, the commission is obligated to review and approve a fair tariff to allow licensees to recover prudent costs and a reasonable return on capital invested in the business for the provision of electricity services. It stated that Section 116(1) of the Act provides that…

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Access Bank appoints Uche Orji as Independent Non-Executive Director

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’). This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board. Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner…

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NESG Appoints Wole Adeniyi, Mohamad Darwish, and Olusegun Alebiosu as Board Members

The Nigerian Economic Summit Group (NESG) has announced the appointment of three leaders, Mr Wole Adeniyi, Mr Mohamad Darwish, and Mr Olusegun Alebiosu, to its board of directors. These appointments reflect the NESG’s steadfast dedication to promoting visionary leadership and strengthening partnerships with key business leaders and private sector stakeholders. The addition of these accomplished professionals is expected to drive strategic initiatives aimed at transforming and advancing Nigeria’s economic landscape. Wole Adeniyi is the Chief Executive Officer of Stanbic IBTC Bank Ltd and is responsible for driving the institution’s strategy…

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Access Bank to Host Pioneering Africa Trade Conference in Cape Town

Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme,‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’.Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent. With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and…

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Union Bank’s Save and Win Palli Promo 4 rewards 360 customers with N21min first draw

UNION BANK REWARDS 360 CUSTOMERS WITH N21 MILLION IN FIRST SAVE AND WIN PALLI PROMO 4 DRAW Nigeria’s leading financial institution, has kicked off its Save and Win Palli Promo 4 campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws. The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each. Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live…

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The NPA Lagos International Polo Tournament Returns with GTCO as Headline Sponsor

Guaranty Trust Holding Company Plc (GTCO) is proud to be the headline sponsor of the 2025 NPA Lagos International Polo Tournament. The highly-anticipated Polo Series will be held at the prestigious Lagos Polo Club, Ikoyi, from 4th to 23rd February 2025. A staple in Nigeria’s sporting and social calendar, the NPA Lagos International Polo Tournament is celebrated for its rich heritage, thrilling competitions, and vibrant atmosphere. Last year’s tournament delivered a thrilling six chukkas encounter that saw Leighton Kings dispatch a hard-fighting Art Hotel Shoreline team to retain the coveted…

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