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Zenith Bank’s Onyeagwu Ends Tenure With Banking CEO Of The Year Award

By
James Orji
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Ebenezer Onyeagwu - Zenith Bank Plc MD

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named the ‘Best Banking CEO of the Year in Africa’ at the International Banker 2024 Banking Awards, retaining this title for the second consecutive year. This award, published in the Spring 2024 issue of International Banker Magazine, United Kingdom, coincides with Dr. Onyeagwu’s completion of his five-year tenure as Group Managing Director/Chief Executive Officer on May 31, 2024.

Speaking on receiving the award, Dr. Onyeagwu expressed his gratitude to the publishers of International Banker for the honour. He stated, “It is indeed an honour to be recognised as the ‘Best Banking CEO of the Year in Africa’ for a second consecutive year. This award is a testament to our team’s collective efforts and our commitment to innovation, growth, and delivering value to our customers and stakeholders. It also reflects our dedication to sustainability and high ethical standards, which are integral to our overall strategy. I am immensely proud of our accomplishments and look forward to future opportunities for the bank as I hand over the baton to my successor and begin the mandatory regulatory cooling-off period.” Dr. Onyeagwu dedicated the award to the Founder and Chairman of Zenith Bank Plc, Dr. Jim Ovia, CFR, for his mentorship, which was crucial to his success as Group Managing Director/CEO; to the bank’s management team and staff for their unwavering commitment over the past five years; and to the bank’s customers for their loyalty.

Throughout his distinguished tenure, Dr. Onyeagwu has received multiple awards, including Bank CEO of the Year (2019, 2023) by Champion Newspaper, Bank CEO of the Year (2020–2023) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper, and Banking CEO of the Year, Africa (2023) – International Banker.

Appointed as the Group Managing Director/Chief Executive Officer on June 1, 2019, as part of Zenith Bank’s succession planning strategy, Dr. Onyeagwu has led the bank to achieve significant milestones in financial performance, financial inclusion, corporate governance, and sustainability. These achievements have earned the bank numerous local and international awards, including being named Best Bank in Nigeria for the fourth time in five years from 2020 to 2022 and in 2024 by the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria by the Euromoney Awards 2023; being listed in the World Finance Top 100 Global Companies in 2023; and being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking published by The Banker Magazine.

Zenith Bank has also been honoured as Best Commercial Bank in Nigeria for three consecutive years from 2021 to 2023 by the World Finance Banking Awards; Best Corporate Governance Bank in Nigeria by the World Finance Corporate Governance Awards 2022 and 2023; Bank of the Year (Nigeria) by The Banker’s Bank of the Year Awards in 2020 and 2022; and Best in Corporate Governance Financial Services Africa for four successive years from 2020 to 2023 by Ethical Boardroom. Other recognitions include Most Sustainable Bank in Nigeria at the International Banker 2023 Banking Awards, Best Commercial Bank in Nigeria, and Best Innovation in Retail Banking in Nigeria at the International Banker 2022 Banking Awards.

Additionally, Zenith Bank was named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards; Bank of the Decade (People’s Choice) at the ThisDay Awards 2020; Bank of the Year 2021 by Champion Newspaper; Bank of the Year 2022 by New Telegraph Newspaper; and Most Responsible Organisation in Africa 2021 by SERAS.

In recognition of his significant contributions to the financial services sector in Nigeria and across Africa, Dr. Onyeagwu was awarded a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka, on March 25, 2023, during the university’s 50th convocation ceremony.

Published by Finance Publishing Limited, the International Banker is a leading global source of authoritative analysis and opinion on banking, finance and world affairs. Its influence, integrity, accuracy and objective opinion have earned it global recognition. The International Banker Awards strive to recognise the most worthy financial institutions around the world – those not just doing their jobs well but exceptionally well – those operating at the industry’s cutting edge and setting new performance levels to which others will aspire. The 2024 Banking Awards focused on various criteria, including the provision of much-needed capital for economic growth, cutting-edge innovation to enhance security and efficiency, commitment to sustainability and ESG principles, as well as intelligent investing to maximise profits and shareholder value.

Kano Royal Stool Face Off: Conflicting Judicial Rulings Heighten Tension, Anxiety

By
Suleiman Anyalewechi
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Aminu Bayero and Sanusi Lamido

By Suleiman Anyalewechi

In what may readily pass as a manifestation of judicial shenanigans in the ongoing struggle for the control of the soul of Kano Emirate, two high courts sitting in the ancient commercial city delivered conflicting rulings which have tended to further complicate the stalemate.

First in what appears to be  a reinforcement of an earlier order restraining the Kano State Authorities from dethroning Emir Aminu Ado Bayero and four others, Justice S. A. Amobeda of a Federal High Court sitting in Kano,  on Tuesday May 28, 2024 granted an order directing all relevant Authorities ,Security Agencies inclusive, to evict the Kano State Government backed Emir Muhammad Sanusi from the main Kano Emirate Palace which he has been occupying since his purported reinstatement on Thursday, May 23, by Governor Abba Kabir Yusuf.

The Source reports that Justice Mohammad Liman of the Federal High Court Kano had, on same Thursday ,May 23 2024, issued an order restraining the Kano State authorities, particularly Governor Yusuf from deposing Emir Bayero pending the determination of a  substantive suit filed by the applicants .

However, in contravention of the order, Governor Yusuf deposed Emir Bayero and four other Emirs of Gaya,Karaye,Rano,and Bichi, and  reinstalled Emir Sanusi ,after signing into law the 2024 Kano State  Emirates amended bill that, at once, voided the 2019 laws which recognized five Emirates.

But the refusal of Security Agencies to enforce the deposition efforts prompted the Kano State Government to approach and subsequently secured an order from a Kano State High Court on Monday, May 27, compelling security agencies to enforce the deposition of Emir Bayero .

Specifically, Justice Amina Adamu Aliyu had directed security agencies to evict Emir Bayero from the mini Emirate palace in the Nasarawa area of  Kano, insisting that his continued stay both at the Palace and Kano poses a great threat to the peace and stability of the state.

But ruling on an ex parte motion brought before him by the camp of Emir Bayero ,Justice Amobeda of the Federal High Court Kano issued an interim order directing Security Agencies and other relevant authorities to evict Sanusi, noting that such is imperative for the continued existence of peace and stability in Kano.

“An order of interim injunction restraining the Respondents ( Kano State Government ,Security Agencies and any others) from inviting arresting, detaining threatening intimidating, and harassing the Applicant( Bayero) or infringing on his rights is hereby granted ” Justice Amobeda further ruled

Similarly,to protect Sanusi and  its earlier order Justice Aliyu again same Monday May 28 issued an order restraining Security Agencies and or any others from  harassing Sanusi and or other key persons in relation to the ongoing Royal tussle.

“This order prevents any interference with the Emir’s autonomy and the seizure of key symbols of his authority ,such as the twin spear ,the Royal spear and Hat of Dabo and the Ostrich-feathered shoes.

“An order of interim injunction is granted restraining the Respondents from harassing or intimidating the Applicant or confiscating any symbols of the Emir’s authority .

“The Respondents are ordered to maintain the status quo pending the hearing and determination of the motion on notice ” Justice Aliyu ordered.

Justice Amobeda has fixed June 4, 2024, for hearing of the motion on  notice ,while Aliyu of the Kano State High Court adjourned hearing to June 13, 2024.

President Tinubu, Fmr Military Ruler Abdulsalam Abubakar To Address Joint Session Of National Assembly On 25 Years Of Democratic Rule

By
Ayodele Oni
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Bola Ahmed Tinubu - President
President Bola Ahmed Tinubu

By Ayodele Oni

President Bola Tinubu is slated to address a joint session of the National Assembly on Wednesday as part of the first anniversary of his administration.

The National Assembly has lined up  programmes to commemorate 25 years of the Nation’s democratic journey at both the Executive and Legislative levels.

Among those that will address the joint session are former Senate President, Senator David Mark, and former Speaker of the House of Representatives and now President Tinubu’s Chief of Staff, Femi Gbajabiamila.

Also to speak is the former Military Ruler, General Abdulsalami Abubakar, who handed over power to civilian administration in 1999.

At the end of the speeches, President Tinubu will commission the National Assembly Library and Resource Center, now to be known as Bola Ahmed Tinubu Building.

Senate Pardons, Recalls Ningi

By
Ayodele Oni
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Senator Abdul Ningi

By Ayodele Oni

The Senate has recalled Abdul Ningi, Senator representing Bauchi Central, from suspension.

The upper legislative chamber recalled Ningi following a motion sponsored by Abba Moro, Minority Leader, Olalere Oyewumi, Senator representing Osun South; and Osita Ngwu, Senator representing Enugu West.

Ningi was suspended for three months in March for alleging that the 2024 budget was padded by three trillion Naira.

Moro pledged to assume full responsibility for Ningi’s actions, acknowledging the gravity of the suspension.

The Senator’s conduct during the period of suspension has been a matter of scrutiny and debate within the legislative body.

The President of the Senate, Godswill Akpabio, announced the unconditional recall of Ningi after a brief plea by some lawmakers.

Akpabio emphasized the Senator’s resourcefulness and described him as a valued member of the Senate, adding that the decision to recall Ningi transcends religious and ethnic divides.

Ningi was recalled some two weeks to the end of his three-month suspension which is supposed to terminate on June 12, 2024.

The Senate suspended Ningi over allegations of N3.7 trn padding of the 2024 Budget in March.

Ningi, of the Peoples Democratic Party (PDP) from Bauchi Central Senatorial District, was suspended for three months after a long stormy session in the red chamber.

Organized Labour Rejects FG’s N60,000 Minimum Wage Offer,  Walks Out Of Discussion

By
Akinwale Kasali
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Labour Union in Meeting with FG

By Akinwale Kasali

For the second time in less than two weeks, the Organized Labour and the Federal Government have failed to reach a compromise over the Minimum Wage of Workers.

The FG added a paltry sum of N3,000 to its initially proposed N57,000 minimum wage, making it the sum of N60,000 proposed on Tuesday during a meeting of the tripartite committee on minimum wage in Abuja.

This prompted the Organized Labour to stage a Walk Out, as it insisted on its last proposal of N497,000 during the last minimum wage meeting.

Sources revealed that the leadership of the Organized Labour felt insulted by the FG for adding that meagre amount. It says the offer shows the “thin challant attitude of the FG to address the situation.”

One of the Leaders of the Organized Labour who pleaded anonymity said,  “This is simply a case of if they go higher, we will go lower. They need to propose something reasonable for us to propose something lower too. There is no two-way about it.

“Also, we have a way of meeting as members of the Labour before each committee meeting. This will help us to take a uniform stand by the time we get to the meeting front.

“So as long as the government is ready to present something reasonable, we will meet them in the middle,” the Labour Leader said.

Cross River: Another Räpist Convicted, Jäiled in Calabar

By
The Source
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Prince Joseph Mark

By Stanley Ekpenyong, South-South Bureau Chief

Three weeks after a 25-year-old man, Aniedi Mfon was sentenced to life imprisonment for dëfiling an eight years old girl in Calabar, a High court in the Cross River state capital has jäiled another rapist, Prince Joseph Mark.

Also two months ago one Ernest Odong Oyira, was convicted of 14 years imprisonment after being found guilty of räping 10 years old girl in the city

A federal High court sitting in Calabar presided over by Justice Ijeoma Ojukwu sentenced Mark to three years in imprisonment for räping six and 11 years old minors. The convict was found guilty of two out of the four charges.

In the suit number FHC/CA/86C/2023, between the Federal Republic of Nigeria versus Prince Joseph Mark, the Judge found him guilty of the punishable offence committed on May 22, 2023.

Mark who is a neighbour to the two minors had on the 22nd of May, 2023, accosted them when they were sent to drop off cooked Kpomo( animal hides) which their father sold to another neighbour who sells palm wine in the neighbourhood.

Their father had requested that the neighbour help him sell the remaining Kpomo while selling his palm wine for the day. However, Mark deceitfully lured the children into his shop on the pretext he wanted to buy the Kpomo.

He then sent one of the children to go get him a bottle of coke, which he later drugged, forcefully gave the children to drink and raped both of them.

Half conscious, the children were able to find their way home and reported what had transpired to their parents before they finally lost consciousness.

The incident was reported to Nigeria Security and Civil Defence Corps who promptly arrested the rapist.

PSC Disowns Press Statement On Final Shortlist Of Candidates On Police Constable Recruitment

By
The Source
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Solomon Arase - PSC Chairman

 “Recruitment Board yet to make recommendations, insists Supreme Court judgement subsists on  PSC’s right to recruit”

The Police Service Commission has disowned the trending Press Statement in the social media on the release of the final shortlist of successful applicants for recruitment into the Constable cadre of the Nigeria Police Force.

The Commission also disowned what it, in a statement signed by Ikechukwu Ani, Head Press and Public Relations on Tuesday, “a purported list in circulation in some unofficial quarters meant to represent the names of successful applicants from the just concluded recruitment exercise.”

Part of the statement reads:

“The Commission is aware that the Force Public Relations Officer who was quoted to have signed the Press Statement on the release of the final list of successful applicants has since disowned the Statement.

“The Commission, however, wishes to direct that the Police Force should investigate the source of “that fake news” and bring the perpetrators to book.

“The Commission wishes to inform the general public that the Commission  in pursuit of its Constitutional powers, judgment  of the Supreme Court of Nigeria in Suit No: SC/CV/773/2020 between  the Nigeria Police Force & ors v. Police Service Commission and anor and the Joint Recruitment Board is the sole authority  on the Recruitment  of Officers  into the Nigeria Police Force.

“The Commission wishes to state categorically that it has no intention to abdicate its constitutional mandate to recruit but will continue to accommodate  relevant stakeholders in the performance of this sacred Constitutional mandate.

“Therefore, any attempt, actions or inactions by any body or bodies, person or persons, office or offices  to release any list of successful candidates into the Nigeria Police Force is contemptuous of the Constitutional and Judicial  pronouncements and such shall be so treated.

“Thus, the list of successful candidates for the 2022 Recruitment exercise  will soon be released by the Commission.

“It is instructive to state that the Commission in an attempt to ensure credibility and inclusiveness in the conduct of the recruitment exercise set up a Police Recruitment Board made up of representatives of relevant stakeholders in the Police Sector. These include, the Police Service Commission, the Nigeria Police Force, Ministry of Police Affairs, Federal Character Commission, Police Colleges and Police Trust Fund.

“The Commission had in good conscience and to avoid the pitfalls of previous exercises that ran into troubled waters and pitched the Commission against the Nigeria Police Force, created the Recruitment Board, a multi sector Stakeholders  body to serve as a unifying body for a crisis free recruitment exercise.

“It also wishes to state that it has the final approval on the list of successful applicants for this current recruitment exercise and will in the coming days take a final decision on the expected recommendation of the Recruitment Board and release the authentic list of successful candidates.  It will also in consultation with the Nigeria Police, announce a date for the training of the successful candidates.

“The recruitment processes is to ensure probity, accountability and fair representation with a view to ensuring efficiency in the Nigeria Police Force.”

Atiku On First Anniversary Of Tinubu’s Administration: “Poor Pauperized, Rich Bankrupt

By
Ayodele Oni
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Atiku Abubakar

By Ayodele Oni

Presidential Candidate of the People’s Democratic Party ((PDP) in the 2024 election, Atiku Abubakar in his assessment of first anniversary of  Bola Tinubu’s Presidency has observed that the administration is implementing policies without proper planning and a clear destination.

Describing the practice as ‘nothing other than trial-and-error economics,’ Atiku pointed out that “President Tinubu’s policies do not create prosperity.

“Instead, they pauperize the poor and bankrupt the rich. They spare no one. Nigerian citizens, the majority of whom are poor, are going through the worst cost-of-living crisis since the infamous structural adjustment programme of the 1980s.

“The annual inflation rate at 33.69% is the highest in nearly three decades. Food prices are unbearably higher than what ordinary citizens can afford as food inflation soared to 40.53% in April, the highest in more than 15 years.

“Tinubu had the ‘courage’ to remove subsidy on PMS and impose additional taxes on his people, but lacks the compassion to raise the minimum wage or implement a social investment programme that would reduce the levels of vulnerability, and deprivation of workers and their families.

“President Tinubu’s policies create a hostile environment for businesses, big or small. The private sector is overwhelmed by Tinubu’s dismal policies and overburdened by his failure to address the policy fallouts.

“The manufacturing sector, which holds the key to higher incomes, jobs, and economic growth, has been bogged down by rising input prices, higher energy and borrowing costs, and exchange rate complexities.”

He decried the rate at which multinational companies are leaving Nigeria due to unfriendly business environment.

“Since May 2023, corporate Nigeria has lost more than a dozen enterprises to other countries. Unilever, GlaxoSmithKline (GSK), Procter & Gamble (P&G), Sanofi-Aventi Nigeria, Bolt Food, Equinor, among others had exited Nigeria citing reasons including foreign exchange complexities, security concerns, and high operational costs.

“According to the Nigeria Employers’ Consultative Association (NECA), nearly 20,000 jobs may have been lost due to the departure of 15 multinational companies from Nigeria.

“Tinubu and his team are not exactly sure of where the reform process is and what the next steps are. Has Nigeria reinstated fuel subsidy?

“Is the Naira on a free or managed float? These trial-and-error policies raise questions about the readiness of the administration and their capacity to restore the economy to a path of sustainable growth.

“Time is running out for the government, and Tinubu must act fast to save the economy.”

On way out, Atiku advised the administration to design a framework with clearly stated reform objectives.

“It is important that the government understands what reforms must be undertaken and in what sequence. A framework is needed with clearly stated reform objectives and strategies.

“Government should undertake a comprehensive review of the 2024 budget within the new reform framework. The 2024 FGN Budget, the exact size of which remains a mystery, is not designed to address the structural defects of the Nigerian economy or the cost-of-living crisis.

“It will neither create prosperity nor promote opportunities for our young people to lead a productive life.”

Emir Muhammad Sanusi: Northern Lawyers To Blacklist Gov Abba, Gives Govt. 48-Hour Ultimatum To Revert

By
Suleiman Anyalewechi
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Abba Kabir Yusuf - Governor of Kano Sfate

By Suleiman Anyalewechi

A coalition of Legal Practitioners, under the aegis of Northern Lawyers Forum, has urged the National Judicial Council NJC, to act proactively to prevent  the Judiciary from  being used to orchestrate chaos and division in Kano.

This is even as it has given the Kano State Government 48 hours to reconsider its earlier decision to reinstate Muhammad Sanusi as the Emir of Kano, noting that it is unconstitutional and negates the cherished traditions and customs of the Kano Emirate .

At a media briefing in Abuja on Tuesday, May 28, 2024, the Forum’s Director-General Barrister Umar Sadiq Abubakar, warned that it will explore all available legal options to protect both the Judiciary and the interest of Kano people, should Governor Abba Kabir Yusuf fail to give attention to its ultimatum.

The Northern Lawyers Forum faulted the processes that culminated in the reinstatement of Sanusi, insisting that the development, if not revisited has the huge potentials to create chaos and undermine the principle of rule of law.

The Lawyers Forum specifically took a swipe at Governor Yusuf’s decision to ignore a restraining Court order  in the process of reinstating Sanusi, describing it as a deliberate attempt to subject the Judiciary to ridicule .

Further Speaking, Abubakar noted that the restraining order obtained by the Kano  State Government from a Kano State High Court against Emir Ado Bayero and others in the face of a subsisting Federal high court order, is a  clear case of abuse of Court process and an affront to the authority of the Federal High court, as well as a dangerous precedence capable of undermining the hierarchy of the Courts.

They, therefore, urged   President BolaTinubu to urgently intervene and call the Kano Governor  to order, as according to them ,his actions are detrimental to the country’s democratic dispensation.

“It has become pertinent to again address you on the executive rascality and gross disregard of the judiciary by the Governor of Kano State ,Abba Kabir Yusuf .

“You will recall that prior to the reinstatement of  deposed Muhammad Sanusi as the Emir of Kano, a Federal High Court granted an order restraining the Governor  and every other party concerned from reinstating Muhammad Sanusi as Emir of Kano.

“But Governor Yusuf, in breach of the Court order went ahead to reinstate Muhammad Sanusi as Emir of Kano state.

“We know that the Judiciary is conservative and, therefore, look up to the bar to speak for it.  As an organization of young Lawyers who are irrevocably dedicated to an independent and free judiciary whose injunctions, judgements and orders must be enforced and obeyed, we are perturbed that a sitting Governor, who swore to protect our laws and constitution will flagrantly disregard a valid court order and engage in illegal actions that are capable of desecrating the hallowed temple of justice.

“We will not allow that to happen unchallenged. The age-long principle of constitutionalism is very clear that no man is above the law .

“The Kano State Governor, irrespective of how highly placed is not an exception. The principle of separation of powers is an indispensable ingredient of democracy, open disregard for the Judiciary arm by the Executive as done by the Governor of Kano State is a recipe for anarchy .

“We implore Nigerians to rise against such power drunk politicians whose actions are capable of eroding our nascent democracy.

“As a group, we will also write to the President of the Federal Republic of Nigeria, a time-tested democrat to intervene and call Governor of Kano to order as his actions are not just injurious to our democratic settings, but also capable of overstretching our security architecture by throwing Kano State into endemic and endless crisis

“We also call on the NJC to take more sophisticated steps in protecting the judiciary and making its orders,injunctions and judgements more enforceable.

“Finally ,we give the  Governor of Kano state 48 hours to rescind the decision of reinstating Muhammad Sanusi as Emir of Kano against a subsisting court order .

“Failure to adhere to this ultimatum ,we will mobilise Nigerian lawyers to boycott Abba Yusuf and the Government of Kano state until they purge themselves of this unacceptable disregard for the judiciary” NLF stated .

First Anniversary: Yoruba Group, Afenifere Greets Tinubu, Backs Reforms In LGs

By
Ayodele Oni
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Chief Reuben Fasoranti and Bola Tinubu

By Ayodele Oni

The leader of pan Yoruba socio cultural organization, Afenifere, Chief Reuben Fasoranti, has backed the Federal Government on the proposed move to grant the 774 local governments in the country full autonomy.

This is contained in a congratulatory message marking the first year anniversary of President Bola Tinubu and signed by Afenifere National Publicity Secretary, Jare Ajayi.

Ajayi quoted Pa Fasoranti as expressing delight on some bold steps that the President has taken in the last one year aimed at repositioning Nigeria adroitly.

“Before, during and after the Presidential election that brought you into the office last year, I gave you some ideas regarding how to tackle some challenges that Nigeria faced – and still faces.

“We also spoke about some of these issues when I led Afenifere delegation to your office in Abuja last month.

“I’m happy to note that, in line with your promises, you are making efforts at implementing policies that will enhance the situation of our dear country and better the lot of the people.”

The Afenifere leader pointed out that the reforms initiated by the government have the prospect of revamping the country’s economy and reducing the mutual distrust among the ethnic nationalities in the country.

He commended Tinubu on his government’s effort to rescue local governments from the strangulating grip of state governors.

“It’s undebatable that local government is the closest to the people.

“For, it is through it that the people at the grassroots can effectively feel the impact of the government.

“As the situation is presently however, the tight grip that state governors have on local governments is seriously denying the people of the benefits they should, by right, be deriving from their local governments.

“It’s in this respect that Pa Fasoranti, described the latest step taken by the Attorney General Lateef Fagbemi on behalf of the federal government as a step in the right direction.”

While expressing optimism that steps being taken by the government will soon soothe the pains of Nigerians, Fasoranti called on Tinubu to further look in the direction of infrastructure such as power and transport among others.

“Security is an important factor in any social equation.

“For, it’s in a situation where people are secured that they would be able to confidently engage in activities that will boost the economy and enhance inter-personal relationships.

“In order to institutionalize reforms being made, accelerate developments, enhance people’s participation in governance and engender the desired new Nigeria, there is the urgent need to restructure the country.

“Restructuring will deepen people’s participation in governance, boost the creativity of Nigerians and guarantee the future of the country.”

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