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FBN Holdings Taps New Scribe

By
Tosin Olatokunbo
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By Tosin Olatokunbo

The Nnamdi Okonkwo-led First Bank Nigeria, FBN Holdings Plc has appointed Adewale Arogundade as the Acting Company Secretary of the Group following the redeployment of Seye Kosoko the former occupier of the position.

Kosoko, according to the notice signed by Ahmad Abdullahi, Chairman, Board of Directors of FBN Holdings, has now been transferred to the commercial bank subsidiary where he’s expected to drive improvement in the lender’s public sector subsidiary.

The Holder announced in a notice to the Nigerian Exchange, NGX that Arogundade appointment took effect from March 7, 2022.

The statement said, “In accordance with the Nigerian Exchange Group (NGX) Rule Book, the Board of Directors wishes to notify the NGX and the investing public that Mr. Adewale Arogundade, Assistant Company Secretary, FBN Holdings Plc, will assume the role of Acting Company Secretary effective March 7, 2022.

“This is following the transfer of the erstwhile Company Secretary, Mr. Seye Kosoko to our Commercial Banking Subsidiary, First Bank Nigeria Limited to support and further strengthen our Public-Sector Business in line with our Talent Management Framework”.

Sanctions Will Push Crude Oil Prices To $300-Russia

By
Tosin Olatokunbo
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Russian President Vladimir Putin.

By Tosin Olatokunbo

The Russia federation has warned of spike in oil prices to as high as over $300 per barrel if the US and its allies go ahead to impose sanction on energy supply from the country. A senior minister in the President Vladimir Putin’s government warned the West not to follow through on threats to cut energy supplies from Russia.

Oil prices spiked to their highest levels since 2008 on Monday after U.S. Secretary of State Antony Blinken said Washington and European allies were considering banning Russian oil imports.

“It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Russian Deputy Prime Minister Alexander Novak said in a statement on state television.

“The surge in prices would be unpredictable. It would be $300 per barrel if not more.”

Novak said it would take Europe more than a year to replace the volume of oil it receives from Russia and it would have to pay significantly higher prices.

“European politicians need to honestly warn their citizens and consumers what to expect,” Novak said.

“If you want to reject energy supplies from Russia, go ahead. We are ready for it. We know where we could redirect the volumes to.”

Novak said Russia, which supplies 40% of Europe’s gas, was fulfilling its obligations in full but that it would be entirely within its rights to retaliate against the European Union after Germany last month froze the certification of the Nord Stream 2 gas pipeline.

“In connection with … the imposition of a ban on Nord Stream 2, we have every right to take a matching decision and impose an embargo on gas pumping through the Nord Stream 1 gas pipeline,” Novak said.

“So far we are not taking such a decision,” he said. “But European politicians with their statements and accusations against Russia push us towards that.”

Reuters

GTCO Showcases Strength One Year After; Reports N221bn PBT

By
Tosin Olatokunbo
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By Tosin Olatokunbo

The Group Chief Executive Officer of Guarantee Holding Company, GTCO Plc Segun Agbaje has disclosed that the company will continue to deliver value to stakeholders despite the challenging business environment. He said the financial behemoth has shown strength in the manner it has performed in key areas 12 months after re-organisation into a full-fledge holding company.

The GTCO chief executive made the comment on the back of the company’s release of the 2021 Full year financial report.

Agbaje said “as a Group, we have continued to explore newer ways to connect with our customers and better our communities by offering greater and more rewarding experiences”, noting that the year ending December 2021 was an opportunity for the group to showcase its position as a top financial service provider in the continent.

He said, “2021 presented a crucial opportunity as we took strategic steps to reorganise our business and advance our position as a leading financial services company.

“With the recent addition of Pension Fund and Wealth Management businesses to the Group, we are well on our way to rapidly scale our operations and strengthen our foothold in these key industry segments.

“Our goal is to consolidate our place at the top of Africa’s financial services value chain by leveraging technology to provide end-to-end financial solutions to more people and businesses across Africa”.

The group disclosed in the report presented to the Nigeria Exchange, NGX a profit before tax of N221.5 billion, representing a seven percent shortfall of the N238.1billion recorded in December 2020.

Within the period, the group’s net loan portfolio increased by 8.4 per cent from ₦1.66 trillion recorded the preceding year while deposit liabilities grew by 14.4 per cent, from ₦3.61trillion to ₦4.13 trillion.

The group said in the report that it recorded a post-tax return on equity, ROAE of 20.6 per cent, post-tax return on assets, ROAA of 3.4 per cent, full impact capital adequacy ratio, CAR of 23.8 per cent and cost to income ratio, CIR of 42.3 per cent.

It said the company’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing 2021 at ₦5.44 trillion and ₦883.2 billion, respectively.

According to the report, the group’s Capital Adequacy Ratio, CAR remained very strong, closing at 23.8 per cent while asset quality was sustained with Non-Performing Loan, NPL ratio standing at 6.0 per cent.

The report also indicates an increased in the group’s loan book by 8.4 per cent from ₦1.66 trillion, while deposit liabilities grew by 14.4 per cent from ₦3.61 trillion to ₦4.13 trillion.

Meanwhile, the Holder has proposed a final dividend per share of N2.70 per share to it’s shareholders.

GTCO is a full-fledged financial services group with banking operations across West and East Africa and the United Kingdom as well as non-banking businesses in several key industry segments including payment, funds management and pension.

With over 25 million customers and more than 10,000 employees, GTCO is one of the most profitable and best managed financial services companies in Africa. As a leader in the financial service sector the company has been helping people and empowering communities.

Igboho, Yoruba Nation Fighter, Not Free, But Released To Go To Hospital

By
Adesina Soyooye
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By Adesina Soyooye

In a news report which has gladdened the heart of the Yoruba Nation, even if temporarily, its dogged fighter, Sunday Adeyemo, popular as Igboho, has regained his freedom from detention.

For over 231 days, Igboho, 49,  was in the custody of the Republic of Benin. Declared wanted by Nigeria after his home in Ibadan was raided by a combined team of Security Agents.  Some of his aides were arrested, and, a couple of them killed, Igboho tried to escape to Germany with one of his wives, Ropo, a German citizen, but both were intercepted at an airport in Cotonou, just before they boarded a Lufthansa Airline aircraft.

They were clamped into detention and charged to Court. During their first outing in Court, his wife was released. But Igboho was kept in an uncomfortable prison facility while the charges against him progressed.

It is not known if there were conditions attached to his release, aside from an undertaking not to leave the country, but apparently, the bid by the Nigerian Government to have him extradited to Nigeria is continuing, as well as any other charge the Benin Republic has against him.

Announcing his release in a terse statement, on Monday, the Spokesperson for Ilana Omo Oodua, Worldwide, Maxwell Adeleye, said Igboho was released to Yoruba Leader, Professor Banji Akintoye, and a French language expert, Akintoye’s Deputy,Professor Wale Adediran. “It is a triumph of truth over darkness in Yorubaland”, Akintoye proclaimed.

However, Igboho’s Counsel, Yomi Aliyyu, SAN, explained Igboho cannot, for now, leave the Republic of Benin. He said he was released to enable him go to hospital to attend to his health. It is not known if he will go back to jail after attending to his health, or if he would continue to enjoy his “freedom”, and attend his Court hearings from outside.

IWD: Anyim Greets Women, Urges NASS To Reconsider Rejected Gender Bills

By
The Source
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Anyim Pius Anyim

Frontline 2023 presidential   aspirant, Senator Anyim pius Anyim has greeted womenfolk on the occasion of this year’s International Women’s Day for their many contributions in nation building.

In his message of solidarity and support, Anyim lamented the under-representation of women in politics and governance, especially in Nigeria.

Anyim, a former President of the Senate called on the National Assembly to re-visit the rejected bills on women/gender related issues with a view to passing them into law.

He also promised to champion women inclusiveness if he becomes president of Nigeria in 2023.

Said Anyim, “As the world stands up for women on this auspicious occasion of the International Women’s Day (IWD), I join all men of goodwill in celebrating our women for all they do to maintain the balance of the human society.

“I am sad, that our women in Nigeria, will be observing this year’s International Women’s Day with a deep feeling of disappointment and anger, arising from the rejection of the women/gender related bills at the constitution amendments hearings of the National Assembly last week.

“I understand that the normal legislative processes were duly followed and the outcome was that the bills did not receive the required number of votes for their passage. However, it is very unfortunate that those bills were rejected.

“On matters that are critical to the peace, development and harmony of our country, like giving our women a sense of worth, belonging, confidence and inclusiveness, we must look beyond processes and procedures and take actions and decisions that will engender stability and progress in the society. With an estimated population of over 104 million – (49.32% of Nigeria’s population, 2021 estimate), Nigerian women have only 29 out of the 469 members of the Nigerian National Assembly. This is grossly inadequate to represent the views and put the voice of the women on the table when dealing with national issues, especially as they affect women and children”.

“Without inclusiveness, we will not make the desired progress in our efforts at nation building. The matter of gender balance and women inclusiveness in governance is one area we must resolve by deliberate actions and policies. I therefore stoutly stand with Nigerian women on their demand for a more equitable and fair representation in government at all levels.

“As a demonstration of our love for, and appreciation of the invaluable contributions of Nigerian women to the peace, progress, development and stability of our country, the National Assembly, as a matter of urgent national importance, needs to revisit the rejected women/gender related bills to give our women the confidence and sense of belonging they require to continue to serve our country and humanity at large, in the manner they have always done. We do not have to wait for women to occupy the National Assembly before we do the right thing”, the Peoples Democratic Party aspirant stated.

On how he would treat women when he becomes President of Nigeria, Anyim said: “Let me assure our hard working and patriotic Nigeria women that I recognise the important role they play in stabilizing the society.

“I appreciate their invaluable contributions to the development of our country, and above all, I value them as indispensable partners in nation building. When, by the grace of God and the will of all Nigerians, I am given the opportunity to serve our great country as president, Nigerian women will have their deserved place of pride in the administration I will superintend.

“This is wishing our women a Happy International Women’s Day 2022”, Anyim concluded.

International Women’s Day: CNPP Carpets Lawmakers, Wants Rejected Bills On Gender Equity Revisited

By
The Source
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Chief Willy Ezugwu

Conference of Nigeria Political Parties (CNPP) has join Nigerian women to protest the rejection of bills meant to promote the interest of the female gender in the ongoing constitutional amendment by the National Assembly, urging the lawmakers to end the habit of taking the country back to the primitive days and revisit the rejected gender equity bills.

The umbrella body of all registered political parties and political associations in the country, in its reaction on the occasion of the 2022 International Women’s Day (IWD), asked members of the Senate “to revisit the rejected pro-female gender bills to align the country with the theme of this year’s IWD celebration, which is #BreakTheBias.”

In a statement signed by its Secretary General, Chief Willy Ezugwu, the CNPP maintained that “the lawmakers have always failed to flow with the mood of the nation and prevailing international standards at all times”, saying that “the rejection of the gender equity bills was not a surprise.”

“Recently, our representatives at the National Assembly against the collective wishes of the people who elected them and it took the deafening out cry of Nigerians at home and in the Diaspora to get the National Assembly pass the bill to allow for electronic transmission of election results.

“The reason is because most members of the National Assembly hardly consult their constituents before taking decisions that would directly or indirectly impact their lives and livelihoods.

“If we are practicing democracy, the lawmakers, the executives and their appointees are always in office to do what the people who elected them want, not imposing their wishes and ideas on the citizens they represent.

“The CNPP, therefore, calls on the Nigerian lawmakers to immediately revisit all bills that would promote gender equity and end discrimination against women on the basis of gender as enshrined in the country’s constitution, particularly in line with the theme of this year’s International Women’s Day.

“2022 campaign theme: #BreakTheBias envisages a gender equal world, free of bias, stereotypes, and discrimination; a world that is diverse, equitable, and inclusive.

“In Nigeria, we should transcend our biases against women, freedom of religion and go ahead to value and celebrate our differences to forge gender equity rather than widen the equity gaps.

“The All Progressives Congress (APC) controlled National Assembly and President Muhammadu Buhari administration should therefore end the policy of relegating our women to ‘the other room’ as Nigeria join the rest of the world to celebrate the International Women’s Day”, the statement read.

Gov Akeredolu Launches Post Covid 19 Relief Packages, Disburses Cheques To Beneficiaries

By
Ayodele Oni
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Rotimi Akeredolu of Ondo State
Rotimi Akeredolu

By Ayodele Oni

Ondo State Governor, Mr Oluwarotimi Akeredolu, SAN, has formally launched the Ondo State Covid Action Recovery And Economic Stimulus (ONDO-CARES) as part of the measures to cushion the effects of Covid-19 pandemic on the poor and vulnerable and stabilise micro and small enterprises affected by the pandemic.

The Governor disclosed that 80,734 beneficiaries, which cut across different segments of the population have been captured and targeted under the implementation of the programme in the State.

A statement by the Chief Press Secretary to the Governor, Richard Olatunde stated that Governor Akeredolu launched the programme in Akure on Monday.

Governor Akeredolu said beneficiaries of the intervention include 2,340 poor and vulnerable persons; 3,705 youths (male and female); 4,711 micro and small enterprises; 48,000 beneficiaries of community micro projects; and 21,978 small holder farmers.

The Governor noted that the beneficiaries will cut across the 18 local government areas of the State.

The ONDO-CARES intervention programme is an extension of the NG CARES which is an emergency programme aimed at supporting state-level efforts to respond to and recover from the Covid-19-induced socioeconomic crisis.

The Governor pointed out that the NG-CARES is a two-year emergency intervention designed by the World Bank in collaboration with the Nigeria Governors’ Forum to support states in Nigeria to restore the livelihood of poor and vulnerable households and stabilise Micro and Small Enterprises affected by the pandemic.

He explained that the state bought into the Nigeria COVID-19 Action Recovery and Economic Stimulus Programme (NG-CARES) Programme in its quest to tackle the consequences of the COVID-19 pandemic head-on.

Mr Akeredolu stressed that the launch is a clear demonstration of the readiness and commitment of his administration to the implementation of the Ondo-CARES Programme.

“At the onset of the COVID-19 pandemic, the State Government put in place several measures aimed at tackling the menace and cushioning its effect on our people.

“This involved setting up of an Inter-ministerial Committee on COVID-19 and a committee on the distribution of palliatives to the people.

“Also the Infectious Disease Centres were strengthened across the State with special allowances paid to our frontline health workers to motivate them in responding to the challenge.

“All these efforts, among others, went a long way in stemming the scourge and alleviating its effects on our people.

“Similarly, in a bid to generate employment for our teeming youths and abate social unrest in the State, we set up an indigenous entrepreneurial development agency known as Ondo State Entrepreneurship Agency (ONDEA).

“I am delighted to inform you that since its establishment, the agency has successfully profiled a number of unemployed graduates and youths based on their skills and technical capabilities.”

He stressed that the intervention programme is performance-based, adding that it is a result-oriented programme, which requires the State to work and achieve the expected results with its own resources and be verified by Independent Verification Agent (IVA) before reimbursement to the State.

“I, therefore, charge the State CARES Steering Committee and all stakeholders that all hands must be on deck to achieve the agreed results within the stipulated period.

“In order to guide against failure, the State will deploy all its internal monitoring apparatus towards ensuring the successful implementation of this programme.

“Accordingly, we have set up a monitoring agency known as Performance and Project Implementation Monitoring Unit (PPIMU), to among other things, oversee the implementation of all developmental initiatives in the State and provide feedback for timely and informed decision making,” he said.

The Governor formally commenced and launched the ONDO-CARES Programme by distributing cheques and packages to verified beneficiaries, communities and farmers, under the State Community and Social Development Agency and Fadama respectively.

Apart from the cheques for the first tranche of fund for the communities to commence their projects as contained in the approved Community Development Plan (CDP), the benefitting farmers were given various agricultural inputs and assets.

Disquiet In APC Over Fate Of Care Taker Committee Chairman

By
Ayodele Oni
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APC Party
APC Party

By Ayodele Oni

Discordant tunes continued at the National Secretariat of the All Progressive Congress, (APC) in Abuja over the leadership of the party.

APC has been under a Caretaker Extra Ordinary Convention Planning Committee, (CECPC) for close to two years after the sack of the former Edo state Governor, Adams Oshiomole led national executive committee.

The CECPC is headed by Governor Mai Mala Buni, with representatives from the six geopolitical zones of the country.

The committee, as its name implies is to organize another convention of the party to elect new executive members, but the date has been shifted uncountable times untill it arrived at a new date in March.

Early morning report on Monday claimed that the CECPC was disbanded by President Mohamadu Buhari before he travelled out on Sunday and appointed Niger State Governor, Abubakar Sani Bello as a Sole Administrator.

National secretary of CECPC, James Akpanudoedehe, in another statement, urged members of the party to disregard the claim.

“Our attention has been drawn to sponsored media reports on an imaginary leadership change in the All Progressives Congress (APC) Caretaker/Extraordinary Convention Planning Committee (CECPC).

The media report is fake news and should be disregarded.

“The APC is a progressive political party guided by rules. Leadership changes are not announced by ‘sources’ through name dropping in the media.

“We urge our teeming supporters, members and indeed the general public to remain calm and support the Governor Mai Mala Buni-led APC CECPC conduct a rancour-free and credible National Convention deserving of our great party.”

However, some activities held at the secretariat on Monday was presided over by the Niger state Governor, who is representing North Central in CECPC with other members in attendance.

Governor Bello reportedly arrived at the National Secretariat of the party and  met with some members of the CECPC and National Secretary in attendance.

Security was beefed up with party members going in and out, apparently to forestall any ugly development.

There were, also, speculations that National Chairman of the CECPC. Gov. Buni, travelled outside the country, last week and was being expected back to the country on Monday.

Missing BRT Passenger Found Dead; Police Arrest Driver

By
Uche Mbah
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The Murdered BRT passenger

By Uche Mbah

A passenger who boarded a Bus Rapid Transit, BRT, from Ajah to Oshodi, Lagos,  declared missing by the Police, has been found dead.

The Police has, also arrested the driver of the BRT who disappeared since after the incident.

The 22-year-old fashion designer, Oluwabamise Ayanwole, went missing after boarding a Bus Rapid Transport (BRT) February 26.

BRT is a Lagos State Government-owned Transport company.

Oluwabamise boarded the bus at Chevron Bus Stop, Lekki, enroute Oshodi, in the evening but never arrived  her destination.

The news of her disappearance hit the social media and the Police arrested the guarantors who sureteed the driver for employment. When they checked his residence, he was said to have packed out of the area.

The Police, however, confirmed his arrest.

The whereabouts of Bamise was finally unravelled by Residents around Ebute Ero in Lagos Island who, reportedly, said her naked body was tossed out of a BRT bus near Oba’s Palace with her private parts missing.

Reports indicate that the brother has identified the corpse.

Currently, a hashtag is trending is #JusticeForBamise.

Police spokesman, CSP Adekunle Ajisebutu, said her body was found on Carter Bridge by Ogogoro Community, Lagos Island.

“The corpse has been deposited at the morgue of the Mainland Hospital, Yaba, for autopsy.

“The bereaved family has been contacted and family members have identified the corpse as that of Oluwabamise Ayanwole, the lady earlier declared missing.

“The Commissioner of Police, Abiodun Alabi, is saddened by this incident and, therefore, expresses, on behalf of the Management, officers and men of the Command, his heartfelt condolence to the bereaved family.

“Notwithstanding the death of Oluwabamise, the detectives handling the case would not rest on their oars until her killers are found.

“We, therefore, assure the concerned public and the bereaved family that we are closing in on the culprits and we are sure that soon the suspects would be arrested and made to face justice for this murderous act.

“While soliciting the cooperation of all and sundry, we once again appeal to anyone with additional information that could help the Police in arresting the suspects to kindly oblige us. Such information, we assure, will be treated with utmost confidentiality.

“The command is ever determined and committed to protection of lives and properties of residents in the state; and has strengthened its security apparatus to prevent a recurrence of this ugly, disturbing incident.”

Abba Kyari’s Drug Charges: “We Are Guilty”, Co-defendants Tell Court; Kyari Calls Them Ignorant

By
The Source
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Abba Kyari and Co in Court

By Gideon Njoku

Not wanting to waste the Court’s time, two civilian co-defendants in the case brought against suspended Deputy Commissioner of Police, Abba Kyari, on Monday, March 7, pleaded guilty to the charges preferred against them by the National Drug Law Enforcement Agency, NDLEA.

The two men who are the 6th and 7th defendants in the case, Chibunna Patrick Umeibe and Emeka Alphonsus Ezenwanne, were arraigned at a Federal High Court, Abuja, on Monday, March 7, 2022, before the Honourable Justice Emeka Nwite.

However, the Counsel for Abba Kyari, Kanu Agabi, SAN, a former Attorney General of the Federation, who is leading other senior lawyers, in a strong defence of the former revered Kyari, said the two men pleaded guilty to the possession of 21.35kg of Cocaine out of ignorance.

Kyari and the four Police officers arraigned with him – Sunday J. Ubua, ASP Bawa James, Inspector Simon Agirgba and Inspector John Nuhu – pleaded not guilty to the All the seven- count charges against them.

After the two pleaded guilty, Agabi urged the Judge not to  proceed in convicting them and sentencing them because their names were, also, mentioned in Counts 3 and 4 as alleged accomplices in the case. Otherwise, Agabi argued, it would not be in the interest of justice.

Agabi had argued as follows:

COUNT 3

“That you DCP Abba Kyari, ACP Sunday J Ubua, ASP Bawa James, Inspector Simon Agirgba and Inspector John Nuhu, all male, all male, Adult on or about the 19th to 25th January 2022, within the office of the Inspector-General of (IGP) Intelligence Response Team (IRT), Abuja, within the jurisdiction of this Honourable Court conspired amongst yourselves and with ASP John Umoru (now at large) to unlawfully tamper with 21.35 kilogramames of cocaine seized from Chibunna Patrick Umeibe and Emeka Alphons Ezenwannne in the custody of the Inspector-General of Police (IGP) Intelligence Response Team (IRT), by removing and disposing 17.55 kilogrammes of the cocaine and by substituting same with some other substance and thereby committed an offence contrary to and punishable under section 14(b) of the National Drug Law Enforcement Agency ACT CAP N30 Laws of the Federation 2004.

COUNT 4

“That you DCP Abba Kyari, ACP Sunday J Ubua, ASP Bawa James, Inspector Simon Agirgba and Inspector John Nuhu, all male Adult on or about the 19th to 25th January 2022, within the office of the Inspector-General of (IGP) Intelligence Response Team (IRT), Abuja, within the jurisdiction of this Honourable unlawfully tampered with 21.35 kilogramames of cocaine seized from Chibunna Patrick Umeibe and Emeka Alphonsus Ezenwannne in the custody of the Inspector-General of Police (IGP) Intelligence Response Team (IRT), by removing and disposing 17.55 kilogrammes of the cocaine and substituting same with some other substance and thereby committed an offence contrary to and punishable under section 16 of the National Drug Law Enforcement Agency ACT CAP N30 Laws of the Federation 2004.”

Agabi asked the Court for  another date to enable him cite authorities  to back  his argument.

He said:

“It is not in the interest of Justice for that finding to be made while the trial is still subsisting.

‘‘It may be that their plead of guilty is based on ignorance,”, he said

Agabi’s submission was, however, countered by the Director, Prosecution and Legal Services of NDLEA,  Joseph Sunday, who urged the Judge to proceed and convict the two. He said  that doing so will not affect the fate of Kyari and the four others who pleaded not guilty during the trial.

Umeibe and Ezenwanne’s Counsel also disagreed with Agabi. He told the Judge:

“I’m not on the same page with the senior counsel (Kanu Agabi). It is unfair for Agabi to say that they pleaded guilty out of ignorance when he was the legal representation that briefed them (6th and 7th defendants)

“His fears can be articulated in an argument. To say they are ignorant is not fair to their counsel. My prayer is that they should be discharged so they should know their fate,”

Agabi and Counsels to otger defendants also asked the Judge to grant their clients bail. The NDLEA countered them.

Justice Nwite adjourned to 14 March for hearing on bail application while March 28 was fixed for hearing on review of the facts regarding the Umeibe and Ezenwanne who pleaded guilty and other matters.

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