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Access Bank Expands Foreign Acquisition To Zambia |The Source

By
Bayo Bernard
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By Tosin Olatokunbo

Access Bank Plc has added to its number of offshore subsidiaries following its acquisition of Cavmont Bank Ltd in Zambia.

Subject to approval by regulatory and stakeholders’ approvals the acquisition is expected to position Access Bank Zambia as a top 10 bank in the country.

A statement from the tier one lender, signed by the Company Secretary, Sunday Ekwochi  said the deal was reached after a ‘definitive agreement’ with Cavmont Capital Holdings Zambia Plc, CCHZ.

The Herbert Wigwe-led bank stated that the deal will combine Access Bank Zambia’s wholesale and trade finance capabilities with Cavmont Bank’s retail and commercial banking operations.

Access Bank said in the statement, ‘’Subsequent to our announcement on July 8, 2020, the Board of Access Bank Plc announces today that its subsidiary, Access Bank (Zambia) Limited, has entered into a definitive agreement with Cavmont Capital Holdings Zambia Plc (CCHZ) regarding proposed acquisition of Cavmont Bank Limited, a subsidiary of CCHZ and subsequent merger of Cavmont Bank’s operations into Access Bank Zambia.

The proposed transaction, which remains subject to relevant shareholder and regulatory approvals, will position the enlarged Access Bank Zambia as one of the top 10 banks in Zambia and create the momentum to advance its strategic objectives.’’

The details of the acquisition, the bank stated is that “Under the terms of the agreement, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank while Capricom Group Limited, the ultimate majority shareholder of CCHZ will invest at least ZMW300 million ($16.5 million) of preference shares into Access Bank Zambia. Capricorn will hold preference shares in the enlarged Access Bank Zambia for a period of five years, after which the preference shares will be acquired by Access Bank Plc.’’

The Zambian acquisition is the latest foreign expansion after Access Bank completed the takeover of Kenya’s Transnational Bank Plc last month.

Dubai Opens Door For Nigerians, UAE Denies Travel Ban |The Source

By
Bayo Bernard
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By Fola James

Rich Nigerians wishing to travel to Dubai, United Arab Emirates, UAE for pleasures and business engagements can now do so without worry after the Gulf nation debunked claims that it has shut its doors on tourists from Africa’s most populous country.

The denial came on the crest of media reports that the Gulf nation has imposed travel ban on Nigeria.

No fewer than 200 thousand Nigerian tourist visit the oil rich country annually and it has been estimated that Nigerians spend close to N1 billion to enjoy themselves while they are on holiday and business journey to the country.

Therefore, many Nigerians were shocked on the reports that travel restriction has been imposed on travelers from the country.

But while responding to the reports on Thursday, the UAE Embassy in Abuja refuted the report, affirming that the bilateral relations between her and Nigeria remains strong..

This disclosure was made in an official statement by the United Arab Emirates Embassy in Abuja on Thursday, August 6, 2020.

The Embassy however stated that travel between Nigeria and the UAE has been limited due to the closure of the Nigerian airspace.

The statement said “In response to recent press and social media reports regarding purported travel restrictions between the UAE and Nigeria, and in an affirmation of the growing bilateral relations between the two friendly countries, the UAE Embassy in Abuja denies the accuracy of the information contained in these reports.

“At the onset of the COVlD-19 pandemic, the UAE took a number of precautionary measures to combat the virus’ spread, including the temporary suspension on issuing UAE visas for all nationalities as of March 17, 2020.

“After entering the recovery phase of the pandemic, the UAE eased some measures on July 7, permitting visitors from various countries to adhere to the necessary precautionary measures, including by showing negative PCR test results within 92 hours of traveling to the UAE. This includes those visiting from Nigeria.”

The Embassy further stated that the two countries will continue to work on grey areas to make travels between them seamless.

Recall that many Nigerians, were few days ago shocked after a travel agency claimed that visa renewals for Nigerians in the UAE, approval for permanent residents, and tourist visas have been discontinued.

 

Incredible: Gov. Bala Mohammed Appoints Special Assistant On Unmarried Woman |The Source

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The Source
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By Akinwale Kasali

Governor Bala Mohammed has done the incredible.

The Bauchi State Governor has just appointed the chairperson, Association of Divorcees in the State, Balaraba Ibrahim, as his Special Assistant on Unmarried Women in the Women Affairs Ministry of the State.

He did so in a letter dated August 4, 2020, with reference number GO/SS/POL/S/83, and signed by the Secretary to the State Government, Mohammed Baba.

The letter read in part, “I am pleased to convey the approval of his Excellency Sen. Bala Abdulkadir Mohammed CON, the Governor of Bauchi State, for your appointment as Special Assistant, Women Affairs (Unmarried).

“The appointment is based on your knowledge, experience and personal qualities of hard work, honesty and absolute loyalty. I would expect you to utilise all these qualities in facing the challenges of your office to facilitate the attainment of our collective goal and the expectation of our electorate.

“The terms and conditions of your appointment as enunciated in the regular government policies as applicable.”

Last year, Balaraba set up counselling centres for intending couples across the state in an effort to address challenges leading to broken homes.

His intention, he said,  for creating those centers was to establish partnership with Muslim and Christian clerics to prepare the minds of intending couples.

According to him, the increase in the number of young divorced girls is becoming worrisome and constitutes a menace to the society.

For the records , this is not the first time that Nigerian state governors would be making unusual appointments.

It would be recalled that former Imo State Governor, Rochas  Owelle Okorocha in 2017 appointed his biological younger sister, Ogechi Ololo, as Commissioner for Happiness and Purpose Fulfillment.

But  Mohammed’s appointment of a Special Assistant on Unmarried women takes the cake. It has been condemned as frivolous, unserious, insulting and a waste of Government’s scarce resources.

Covid-19: Naira Marley Convicted Over Abuja Concert |The Source

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The Source
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Naira Marley and on ExecuJet

By Akinwale Kasali

Nigerian Hip Hop Artiste, Azeez Fashola, popularly known as Naira Marley, has been convicted for performing at an Abuja Concert, thus, contravening guidelines set by Federal Government to reduce the spread of Coronavirus in the country.

The lewd musician was fined N100,000 alongside all other attendees of the concert arrested by the Police.

The magazine gathered that Naira Marley was arrested in Lagos by the Nigeria Police.

It would be recalled that Naira Marley was airlifted to Abuja by a charter aircraft and maintenance firm, Executive Jet Services, for the concert amidst a ban put in place against flight operations, and inter-state movements.

The Airline was sanctioned by the Minister of Aviation, Hadi Sirika, leading to accusations and counter accusations.

A group member of Marley’s band,was alleged to have impersonated the Minister for Works and Housing, Babatunde Fashola, which the operators of the Airline claimed confused it in  airlifting him despite   Government restriction.

But the person turned out to be Marley’s younger brother who shared same name as the Minister for Works.

The ‘Gbese Ko Te Esu Mole’ crooner has always been involved in one controversy or another, leading to invitations by the Police.

It would be recalled that during the Covid-19  outbreak, Naira Marley alongside Actress, Funke Akindele Bello and her husband were arrested,  convicted, and fined for contravening the Covid-19 guidelines, especially on Social Distancing by hosting a birthday Party at their residence at Amen Estate, Ibeju Lekki, Lagos.

The Lagos State arrested  and arraigned them  before the Magistrate Court.

Also, the Economic and Financial Crimes Commission, EFCC, arrested and detained Naira Marley for promoting Cyber Fraud in his Song ‘Am I. A Yahoo Boy’, in which he talked about his fraudulent lifestyle back in United Kingdom.

He was also Arraigned in Court and remanded in Ikoyi Prison for several weeks, before meeting his bail conditions.

Naira Marley was also involved in an  alleged Car theft and assault on a young man alongside his Cousins.

He was arrested and also Arraigned in Court and remanded in Prison before settling the issue amicably out of Court.

Another Health Workers’ Strike Looms in Ondo, as Nurses Give Notice |The Source

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The Source
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Governor Oluwarotimi Odunayo Akeredolu

By Ayodele Oni, Akure

Nurses in the employment of Ondo state University of Medical Sciences have threatened to embark on strike over unpaid salaries and allowances.

The health workers’ threat is coming shortly after the release of about N4 billion by the state government this week to settle outstanding salaries, allowances and deductions of workers.

But in the notice given by the nurses, they claim that some of them, employed just last year, have been working without pay.

“These Nurses were there during the outbreak of Lassa fever and the novel coronavirus disease (COVID19) in the state and they risk their lives despite not being paid.

“Many of these professional nurses had to start borrowing to even get to work and meet up with other needs.

“As it stands presently, five months salaries are still being owed without any hope of being paid. All their efforts to demand for their salaries were sabotaged.

“Worthy of note is that a good number of these new nurses tested positive for COVID19 despite not being renumerated. Aside these, the single and double qualified nurses in the same institution experienced massive salary slashes earlier this year.”

One of the affected nurses complained bitterly about having to trek to work from her house which is miles away from the hospital. Another one talked about how she tested positive for COVID19 and couldn’t even afford to eat healthy meals while battling the virus.

According to reports, one of their major outcry is  to know if they are government employees, as the ill-treatment is indescribable.

Another demand is that they  want their salaries moved to the central account as soon as possible to put to rest claims by the management of the university of inadequate  release of subvention by the state government.

Why Obaseki, Deputy, May Be Impeached |The Source

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The Source
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Godwin Obaseki abd Philip Shaibu

By Adesina Soyooye

There are plans to impeach the Governor of Edo State, Godwin Obaseki. And to make sure his Deputy, Philip Shaibu, does not take over, he is to be impeached alongside the Governor.

When such  impeachments take place, power passes on to the Speaker of the House of Assembly.

But to make sure that does not, also, happen, the man who has been the Speaker of the Assembly, since its inauguration on June, the 17th, 2019, Frank Okiye, has been surreptitiously impeached on Thursday, August 6, by a faction of  the members loyal to the sacked National Chairman of the All Progressives Congress, Adams Oshiomhole, who was, also, a two-time of the State.

The Assembly has been divided into two factions since their eletion. It stemmed from the serious disagreement between Obaseki and his estranged political godfather, Oshiomhole.

The result is that after the proclamation of the Assembly, only 10 of the 24 members, loyal to the Governor, agreed to be inaugurated. The other 14, refused, and after over 100 days, their seats were declared vacant. The case is in court.

Edo has been in crisis, especially, since the APC, the party on which the Governor came into office, denied him the ticket for a second term in office. It, instead, manoeuvred and gave the ticket to Pastor Osagie Ize-Iyamu, who decamped from the PDP to the APC, and was PDP’s Governorship candidate in 2016.

An inkling into the plan to impeach Obaseki became ckear on Wednesday when Speaker Okiye revealed there was a plan to invade the premises of the Assembly, and forcefully take away the Mace. If that failed, he said, a new Mace would be smuggled into the Assembly, after which the 14 members, whose seats had since been declared empty, would be sworn-in.

True to his words, Thursday morning, the Assembly premises was taken over by heavily armed security personnel. And a lot of drama ensued.

On receiving the news, Obaseki, Shaibu, Okiye and scores of others rushed to the Assembly.

Within a twinkle of an eye, tippers lorries delivered heaps of sand at the gate, and some artisans came in to start renovation work on the buildings therein.

Then, hundreds of Edo people, mainly youths, stormed the Assembly, and said they would resist any plans by the security personnel, or anybody, to distract Obaseki’s government.

As that was going-on, seeing that they could not access the House of Assembly, the 14 members whose seats had since been declared vacant, went to a private residence, and were sworn-in by “an Assistant Clerk of the House.” They were joined by three members who had been sworn-in before, bringing the number present to 17. Thereafter,

they proceeded to impeach Okiye and his Deputy, Roland Asoro, who was elected his Deputy, only on Wednesday, after the impeachment of the former deputy, Yekini Idiaye,  for declaring support over his declaration of support for Ize -Iyamu.

The new Speaker is Victor Editor, while his Deputy is Emmanuel Agbaje.

This has set in process the plan to impeach the Governor and his Deputy, less than two months to the Governorship election. The ultimate is to remove the State apparatus from him, and  return Edo to the APC, since the newly “elected  Speaker “would act as the Governor.

But the PDP, both at the state and national levels, is crying foul. And, so are a number of individuals.

The PDP is asking the President to call Oshiomhole and company to order, warning that there  would be serious consequences that could truncate Nigeria’s fragile democracy.

The Convener of a civil rights group, Concerned Nigerians, Deji Adeyanju says it is a shame that Nigeria has descended to this sorry level, and asks the President to pull it back by arresting the dangerous situation in Edo. He said Oshiomhole should be held responsible if any tragedy befalls Edo State.

Governor Obaseki swears he would protect the state and its people, and defend democracy,  with all constitutional powers available to him.

And, in a statement Thursday evening, former Vice President, and the PDP Presidential candidate in the 2019 Presidential election, Atiku Abubakar,

warns of the consequences of trying to impeach  Obaseki, insisting that the status quo be preserved, or  there will be ‘grave danger’.

Atiku: “Nigeria has been on edge due to the brinkmanship of those charged with democratic leadership. We must, as a nation, not escalate the already tense atmosphere in our polity.

“What is happening in Edo State is a threat to constitutional order nationwide, and I strongly urge belligerent forces to rein in their proxies and abide by the rule of law. As I have previously said, without the rule of law, there will be no rule at all.

“The current goings-on portend grave danger, not only to law and order in that state but to the coming Edo elections.

“The people of Edo state should be allowed to choose who they wish to govern them, and that choice is to be made on September 19, 2020. Pending then, everything legally possible must be done to preserve the status quo.”

The Governorship election is billed for the 19th of August. If what is happening now is anything to go by, it promises to be bloody.

2023 Presidency: Igbo Threatens To Pull Out Of Nigeria If It Fails To Produce Next President |The Source

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The Source
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Okwesilieze Nwodo

By Akinwale Kasali

Former National Chairman of the Peoples Democratic Party, PDP, Okwesilieze Nwodo, says the elite in the South-east will join Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), in the agitation for Biafra  if the region does not get the Presidency in 2023.

Nwodo said the Igbo have been cheated, and relegated by the ruling class which isn’t meant to be. But, now, he says, the Igbo are ready to fight and challenge whoever, in taking the seat of power come 2023.

No doubt, Kanu has been in the forefront of the clamour for Biafra over the claim that the Igbo are being marginalised in Nigeria, Nwodo has, however, taken the stand of Kanu in stopping the alleged marginalisation Of the Igbo.

In a recent interview,  Nwodo hailed Tanko Yakassi, a Northern elder statesman, who called for presidency of Igbo extraction in 2023.

He said the Igbo have been persecuted for over 50 years, advising those who want a secure future for their children to elect an Igbo man as President.

“Yakassi’s call is very fair, and that is the correct thing.

“In the First Republic, the country was led by Tafawa Balewa, in the Second Republic, it was led by Shehu Shagari and then, those of us in PDP made a very strong case to move the Presidency to the South-east, because even the military people were all from the North, apart from Aguiyi Ironsi who presided  for a very short time,” he said.

“For 50 years now, we have been persecuted for having fought for freedom. When will this marginalisation stop? Anybody who loves Nigeria and who wishes Nigeria well should go for Igbo Presidency in 2023 for unity, fairness, equity He and for Nigeria to move forward.

“It is only an Igbo man who will not marginalise any part of Nigeria because we constitute the semen that holds the country together. We are the only tribe that you find in every nook and cranny of Nigeria; doing business and developing wherever they are as if it was their own place.

“I don’t believe that the Igbo are not united, there has never been a time when any region produced a consensus candidate, everybody emerged through primary elections.

“There is no zone that has produced a candidate by consensus. It doesn’t matter how many people are interested, they will be subjected to party primaries and the person with the highest vote will win.

“I agree with Nnamdi Kanu in everything he says about the marginalisation of the Igbo. He, more than any other person has put it on the international map. If Nigeria tells the elites from the south-east that they would be treated as second class citizens in Nigeria, and that they can never be president, almost all of them will go with Kanu to fight for Biafra.

“Anybody who wants to be a second-class citizen can support whoever he wants. Any Igbo man who wants to bequeath a secured future for himself and generation yet unborn should support this call for Igbo presidency.

“In the spirit of fairness and equity, Nigeria should give the presidency to the south-east in 2023, otherwise, we will join him and fight for Biafra.

COVID-19 Figures Are Low Because We Are In Sallah Mood, Says Mustapha |The Source

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The Source
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Boss Mustapha

By Uche Mbah

The Secretary to the Government of the Federation, (SGF), Boss Mustapha, has said that the low infection rate being recorded recently is because the country is in the Sallah mood, and that workers went for Sallah holidays and, therefore, the number tested nationwide is only about 2000. He also said the report on COVID 19 has been submitted to President Buhari and that the final phase of the lockdown may be lifted today (Thursday).

The second phase of the lockdown is ending Thursday.

Speaking to Journalists Wednesday after submitting  the report, Mustapha said that fatigue on the part of COVID 19 workers may have contributed to the low figures.

Nigeria has recorded 304 cases of COVID 19 Tuesday, the lowest figures in two weeks.

“As for the content of the report, it will be premature for me to talk about it because we submitted a report, we have submitted recommendations and so we have to leave for Mr. President to take a decision”, Mustapha said.

“By the time I receive his approvals, non-approvals on the recommendations we have made, we will be able to speak to the Nigerian people tomorrow (Thursday),” he explained.

“If you noticed, as we celebrated those discharges, there has also been a decrease in the testing.

“In the last couple of days, we tested just barely 2,000 across the nation, but we have a testing capacity of much more thousands than 2,000.

“Another reason is that everybody is still in a Sallah mood, even the essential workers. Remember when I talked of fatigue, this is part of it.

“But I know that in the next couple of days, the testing will be rampant because people would have come out of the Sallah celebrations and come back to work.

“The sub nationals and local governments will begin to go into the communities to search because this is the point at which you have to go into the local communities and begin to search.

“If you don’t do that, so much is happening as a result of the community transmission that has been cascaded into the local communities that if you wait for it to present itself, it will present itself in a very explosive manner and we can get into a panic mode.

“We don’t want to have that. That is why are encouraging the state governments to go into the local communities to ensure that they search for those infected with this virus, test them, if they are positive, isolate them and provide care for them.”

WAEC Says News Of Fire Outbreak Not True |The Source

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The Source
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0

By Chidi Onyewuchi

The West African Examination Council, WAEC, has declared there was no fire incident  at its Abuja office.

It descibed the news carried by a number of Online Platforms, including this Platform as a misinformation.

In a statement, it said: “We wish to reassure all candidates, other stakeholders and members of the general public that all our security materials are in tact”.

However, this magazine can confirm that the fire outbreak, credited to have been at WAEC, was actually at the headquarters of the Economic Council of West African Commission, ECOWAS, mis-identified as WAEC building.

Gov. Wike Drags Thisday Newspapers To Court, Demands N7 Billion |The Source

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The Source
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Nyesom Wike

By Akinwale Kasali

Governor of Rivers State, Barr. Nyesom Wike, has dragged ThisDay Newspaper to Court.

He is asking for a  whopping N7 Billion in a   suit  he slammed on the Newspaper.

The N7 Billion lawsuit against Thisday Newspapers is for an alleged libel written and published by the Newspaper on its Tuesday, June 23, 2020 edition.

Wike said the lead story  captioned, “With Wike, Obaseki Meets His PDP’S Waterloo, Almost,” portrayed him as an unreliable friend/person.

Governor Wike, in the suit filed by his lawyer, Emmanuel C.Ukala, Esq, SAN, FCIArb, at the Port Harcourt High Court, noted that the defendants further portrayed the Rivers State Governor as a selfish politician and a person who meddled in and exerts subterranean influence in judicial matters in courts sitting in Port Harcourt, to achieve selfish political interest and that he is not a true democrat.

The Governor, under the flagship of the Peoples Democratic Party, PDP, is seeking an order of mandatory injunction compelling the Defendants to withdraw, retract and recant the said libelous publication.

The retraction is to be published on the front page(and to devote the whole full front page to the publication of the retraction).

ThisDay Newspaper is also to publish an apology in the terms acceptable to the Claimant and with his prior approval at the back page( on the full-back page) in the same edition on which the retraction is published, in two consecutive editions of ThisDay Newspapers.

The Claimant is also seeking an order of injunction restraining the Defendants by themselves or by their servants, agents, privies, and associates from further publishing the said libel or any manner, however, and whatsoever continuing to circulate the said libelous publication concerning the Claimant.

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