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Suspected Lakurawa Terrorists Embark On Killing Spree In Kebbi Villages

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Lakurawa terrorists

By Ayodele Oni

Kebbi State Police Command has confirmed that dozens are feared deadlines after suspected Lakurawa terrorists attacked several rural communities in the Arewa Local Government Area.

According to local and security sources, the gunmen stormed villages in the remote border district, opening fire on residents in what survivors described as highly organised and indiscriminate assaults yesterday.

Channels Television reports that a breakdown from security sources indicate that 16 people were killed in Mamunu, five in Awashaka, three in Masama, while two people each lost their lives in five other affected villages.

The attacks triggered panic, forcing many residents to flee their homes as the assailants stormed homes and shot at civilians.

Security operatives have since been deployed to the area to secure the communities, assist survivors, and block possible escape routes for the attackers. Tracking operations are also ongoing.

Confirming the incident, the Kebbi State Police Public Relations Officer, Bashir Usman, said further details would be provided as investigations continue.

OPINION: The Road to A Doctor’s Nigeria

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Azu Ishiekwene
Mr Azu Ishiekwene

By Azu Ishiekwene

 

There Was a Country, lamented Chinua Achebe, Nigeria’s literary icon and one of the world’s greatest storytellers. Achebe’s title evokes many things in the mind beyond its primary thematic concern – a journal of the author’s experiences of the Biafran War, which raged between 1967 and 1970. Among other things, it raises the question: What happened to the country?

Biafra was stillborn. But what happened to Nigeria? If the groundnut pyramids were evacuated and the cotton ginneries, leather tanneries, textile factories, car assembly plants, electricity projects, steel complexes, petroleum refineries, and every state project that would have made the country were sabotaged, what happened to the people and their humanity?

A doctor and a man

Whereas Achebe’s memoir was published in October 2012, less than five months before his death 13 years ago, another book, A Doctor’s Nigeria, by Robert Collis, published by the Camelot Press Ltd in 1960, portrays a rustic Nigeria of 1960 following the road tour and adventure by the author, a British colonial medical officer and storyteller of Irish origin, who came to Nigeria in the late 1950s.

I’ve been reading his book slowly for the pleasure of being lost in it. Collis tells the story of Nigeria when it was a paradise unspoilt by greed, religion, ethnicity, and the mortal fear of insecurity and its various franchises. 

Not that Nigeria was perfect, but chaos, rage, insanity and violence were abnormal. Collis’s book is, in a manner of speaking, an earlier version of Achebe’s There Was a Country.

That was what I thought in recent days following reports of yet another wave of bandit attacks that killed scores of people in Kwara and Niger states and left scores more injured or uprooted for life. It’s difficult to imagine that the road from Jebba to Bida in Nupeland, the scene of some of the most recent horrendous bandit attacks, is the same vicinity that Collis traversed 60-something years ago on a trip upcountry from the University College Hospital (UCH), Ibadan, where he worked. 

A road tour of Nigeria

Collis’s book is a personal encounter. It is part social observation, part memoir, and part travelogue – a journey through the heart of a country, where once upon a time, the lamb and the lion lay side by side, and people were kind to each other as if their lives depended entirely on charity. And they travelled with nothing to fear.

Many Nigerians in their late 20s or early 30s might find it hard to believe there was indeed such a country where you were not afraid to travel alone at any time and didn’t need to share your live location or use a Google Map to get there safely. Safety feels like a very distant memory, a nightmare. On my two recent road trips to Zamfara and Benue States, my wife kept a vigil and sneaked anointing oil and a rosary into my luggage, despite a military escort.

Collis would be turning in his grave. From the UCH, Ibadan, where he set out on the first leg of his boomerang-like tour of a nearly 1,500-kilometre road trip in his Morris car – the whole trip was over 4,800 kilometres – he had only his paper map and barely enough petrol in his car. Still, he enjoyed his journey and even lifted strangers without a care. 

Unusual encounter

He drove through Ogbomosho, Ilorin, Mokwa, Bida, Minna, Kaduna, and Gboko in Benue State, and through Cross River State to the Cameroon border, getting as close to the border as possible. Today, these places are near replicas of the UNITA minefields in Angola of the 70s, 80s, and 90s, ruined by banditry, kidnapping, and neglect.

The difference is that, unlike the mines which blew out the life or impertinent foot of a trespasser, bandits in search of human booty now control much of the territory through which this doctor travelled, for whom a white man would have been more than a cache of gold.

Collis may not have lived, or been too traumatised to tell of his adventures: of sleeping in his car and waking up somewhere in Bida to find a young boy on a donkey peering at him with genuine human concern. Today, it might have cost a stone on King Charles’ crown to pay the doctor’s ransom.

Yet, Collis travelled carefree, and a lorry-load of passengers even stopped to bail out this stranded traveller who had run out of petrol and made frantic efforts to siphon fuel from their own vehicle to his own so he could continue to the next town. 

Meeting Balewa at home

Considering what we see on social media and TV these days, the thought that Collis lived to tell his story evokes nostalgia for lost innocence and a beautiful past. By his own account, even if only mildly alluded to, Collis, and many of the people he encountered on his journey, had the shared pleasure of a simple life. 

His walk-in encounter with Nigeria’s first and only Prime Minister, Abubakar Tafawa Balewa, who lived in his mother’s house in Bauchi, is the stuff of folktales. He wouldn’t meet a governor today without having booked an appointment days, if not weeks, in advance, and not before going through a labyrinth of security and protocol checks to reach the castle of His Excellency! 

It is not Collis’ adventure as such that is at issue, but the fact that once upon a time, 65 years ago, if we start counting from independence, people slept with open doors or left their houses open and free as they attended to their daily obligations without a bother. 

In the countryside, folks who had commodities to sell left them by the wayside or in spaces that served for such exchanges, indicating the price by the number of twigs left there. It was the same at the newspaper vendor’s stand, too. Buyers paid and left without any personal contact whatsoever with the sellers.

More religion, less kindness

In today’s civilised world, despite the very domineering presence of organised religion and the presence of electric fences, CCTV cameras, and reinforced doors and windows, neither city nor village folks are as safe as they were in the uncivilised past.

Hostage taking, banditry, cattle rustling, and a callous disregard for the sanctity of human or animal life have turned contemporary Nigeria into a perpetual crime scene. 

Six and a half decades after independence, and with the full complement of police divisions in every local government headquarters, Nigerians are not safe in their hamlets and communes. They can only travel along certain highways at significant personal risk. 

Between Achebe and Collis

Achebe’s account bemoans poor leadership from pre-war failures into the post-Biafran War era as a continuation of corruption, tribalism, and moral bankruptcy that stifled national healing and progress.

He condemns the post-war entrenchment of ethnic favouritism through appointments and resource allocation, undermining true unity. He sees this as a betrayal of ideals, where “unity” became a hollow slogan masking elite self-interest. He likens them to “blind rulers” leading Nigeria into deeper “iron years” of decay.

Achebe’s generalised narrative doesn’t quite fit the profile Collis gives of Prime Minister Balewa. In his legendary meekness, Balewa told Collis, “I don’t really know why I gave up my pleasant schoolmaster job here for that place (Lagos) with its cocktail parties, its political intrigues and all the rest.”

Of the pending Nigerian independence, Balewa had said: “Whoever will take over and hold the country united when the British go, has a work of the most awful complexity. He will need eyes in the back of his head, and on both sides, if he is to steer the ship into port and avoid the currents running over the rocks.”

Balewa was right. But in hindsight, did Achebe’s lamentation suggest that the prime minister was also naïve? And could Collis’s portrayal of Nigeria’s innocence have been a bit too optimistic? 


Ishiekwene is the Editor-In-Chief of LEADERSHIP and author of the book, Writing for Media and Monetising It.

SGF Akume, Gov Alia Hold Parallel APC Ward Congress In Benue State

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George Akume and Rev Fr Hyacinth Alia
L-R; George Akume and Rev Fr Hyacinth Alia

By Suleiman Anyalewechi

The supremacy battle between the Secretary to the Government of the Federation SGF, Senator George Akume and the Benue State Governor, Rev Fr. Hyacinth Alia, has escalated with both camps holding parallel  Ward Congresses in the state.

The Source reports that the crisis of confidence and battle for the control of the soul of the APC in Benue which began post-2023 general elections between Akume and his estranged political godson, heightened on Wednesday, February 18, as the  two gladiators announced two separate Ward executives.

While the camp of the SGF announced the affirmation of the  Austin Agada-led APC executive committee, loyalists of the Governor insisted that the Congress produced fresh executives and that the tenure of  Agada’s executive has long expired.

Speaking on the development Thursday, February 19, 2026, the spokesperson for the SGF’s faction, Daniel Ihomun, informed that Wednesday’s Congress was just for the affirmation of the existing Ward  executive committees in the state.

According to him, members having been satisfied with the examplary performance of the executive committees  affirmed them to continue in office for the next four years.

“We heartily congratulate all Ward executives who were affirmed by their respective Congresses to continue in office for another term of four years.

“Your reaffirmation is a demonstration of the confidence reposed in you by party faithful.

” We urge you to justify this trust by remaining transparent, inclusive, dedicated and committed to strengthening the party at the grassroots.

“The mandate given to you is a call to service, not an avenue for the pursuit of personal interests”,Ihomun stated.

However, James Orguga,the spokesperson for the faction loyal to Governor Alia maintained that  new ward  executives  committee emerged on Wednesday through a consensus arrangement.

Ornguga insisted that there was no where in the guidelines for the Congresses where it was stated that old executives are to be returned after the expiry of their tenures.

“What happened during our Ward Congresses yesterday (Wednesday) was that we adopted a consensus arrangement to elect new executive committees,the tenure of the old ones having expired.

“The tenure of the ward executives in the state elapsed in July 2025; Local Government executives’tenure also ended on February 8,2026 .. So the lifespan of the entire executive has officially ended paving the way for the election of new ones.” Ornguga added.

Crisis Rocks Ogun APC Over Party Structure

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APC

By Akinwale Kasali 

There is brewing tension in the All Progressives Congress, APC, Ogun State Chapter, over alleged attempts by Governor Dapo Abiodun to consolidate control of the Party structure ahead of 2027 Election.

 

It was gathered from sources within the Party that there is a deliberate plot to destabilize the Party, as there is termed  “factionalisation strategy,” allegedly designed to sideline key political heavyweights within the Party in the State. 

 

At the centre of the controversy is the alleged ostracisation of former Governors Otunba Gbenga Daniel and Senator Ibikunle Amosun.

 

The two politically influential figures in the Party are described as the architect of the  reshapening of the APC’s electoral strength in the state.

 

Multiple sources allege that party meetings were selectively organised, including a recent stakeholders’ gathering where the purchase of Ankara Material (Aso Ebi) reportedly served as a “gate pass,” allegedly excluding loyalists of Daniel and Amosun.

 

There are also claims that instructions were passed within certain party circles that only members considered “loyal” to the Governor would be returned in party positions a move critics say deepens division within the fold.

 

Observers within the party are questioning why an outgoing Governor would seek total control of party machinery, especially one who benefited from broad-based support in two previous elections.

“Of what value is handing the entire structure to one individual?” a senior party member asked rhetorically.

 

The growing unrest, insiders warn, could affect cohesion as the party prepares for future electoral battles.

Rivers: Lawmakers Halt Impeachment Proceedings Against Governor,  Deputy

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Simi Fubara and Professor Ngozi Odu
Governor Siminalayi Fubara and his Deputy, Professor Ngozi Odu,



By Suleiman Anyalewechi 

 

The Rivers State House of Assembly has suspended the impeachment proceedings launched against Governor Siminalayi Fubara and his Deputy, Professor Ngozi Odu.

 

The Source reports that the state Lawmakers, fiercely loyal to the Federal Capital Territory, FCT, Minister Nyesom Wike had, on January 8, 2026, initiated a renewed move  to impeach the Governor and his Deputy, citing alleged gross misconduct including extra-budgetary expenditure, withholding of funds lawfully accruing to the Assembly Service Commission as major reasons. 

 

However, the process was  temporarily stalled following a  court  order slammed on the  Chief Judge of the State restraining him from constituting a panel to investigate the allegations leveled against the Governor and his Deputy.

 

The Lawmakers decision to halt the impeachment process was announced during plenary on Thursday February 19, 2026.

 

It is strongly believed that the Legislators decision to suspend action on the impeachment proceedings derived from President Bola Tinubu’s latest intervention a couple of weeks ago.

 

The President, who is also suspected to be  an interested party in the festering political crisis in Rivers State, is known to have intervened a couple of times to broker peace.

 

However, much of his interventions including the March 18, 2026 declaration of emergency rule in the state, have been alleged to be goaded by his quest  for political gains ahead of the 2027 polls .

Police Disputes Rap*e Claim By Popular TikTok User, Mirabel,  Detains Her

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Mirabel
Mirabel

By Ayodele Oni

Following her inability to defend claims of being rap*ed, Ogun State Police has arrested and detained social media personality Mirabel.

Police stated that investigations revealed that her viral claims of rap*e were false.

The arrest followed the transfer of the case by the Lagos State Domestic and Se*xual Violence Agency (DSVA) to Ogun under which the incident took place.

Mirabel had shared on TikTok that she was rap*ed and slashed with a blade by an unknown attacker, attracting widespread attention and support.

In a statement, DSVA said it had successfully contacted a close friend of the survivor, who confirmed that she had been discharged from the hospital.

“We understand that the Ogun State Police Command is currently handling the matter, and we trust that the survivor will fully cooperate with the appropriate authorities to enable a thorough investigation and due process,” the statement read.

Meanwhile, neighbours in Mirabel’s compound have disputed her claims. One neighbour said, “The ra*e did not happen. I did not hear any shout when the alleged incident happened.

“What is paining me is that she lied that her mom passed a few days ago, and the whole compound contributed money for her. I went through her page and saw that she posted about her mom’s passing last December.”

Another neighbour added, “I’ve seen her with a man before. He comes around often, and they take ‘somethings’. I don’t believe her story.

“We saw Mirabel when she was leaving the compound; she was walking perfectly and wore baggy jeans. A guy came to pick her up.”

Police investigations have also found inconsistencies in her story.

Additionally, Mirabel reportedly gave conflicting statements and declined full medical and forensic examinations offered by both the police and NGOs.

She has been detained for providing false information, wasting police resources, and attempting to pervert the course of justice.

Following her arrest, her TikTok account was made private, several videos were deleted, and some donors are reportedly seeking refunds.

The Ogun State Police stressed that false reports of se*ual assault can undermine real survivors and warned that such actions will be treated seriously. Investigations into the matter are ongoing.

BREAKING: Shock As British Police Arrests King Charles’ Brother, Andrew

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Prince Andrew

By Adesina Soyooye

For former Prince Andrew, the second son of late Queen Elizabeth 11, and younger brother to the British Monarch, His Royal Majesty, King Charles, things couldn’t have been worse than it is.

He was, this morning of February 19, 2026, in an unprecedented operation,  arrested by the British Police on allegations of misconduct in public office while he was the Trade Ambassador of the British Government.

Especially in the past couple of months, Andrew  Mountbatten-Windsor, has been through very humiliating situations.

He was stripped of his Royal Titles and can no longer  be addressed as Prince. He is now simply Mr. Andrew Mountbatten-Windsor. He has also been recently evicted from the Royal Palace.

He was arrested at his Sandringham Estate home by Policemen who arrived in six unmarked vehicles.

It is not known how far yet the public misconduct is, but it is being strongly speculated that while he was Britain’s Trade Ambassador, he allegedly shared trade secrets to convicted  US s*x offender, Jeffrey Epstein who committed suicide in prison.

The reason Andrew was stripped of his Royal Titles is his relationship with Epstein. He was allegedly involved in the scandalous conducts of Epstein, an allgation he has continued to strongly deny.

Touted as his late mother’s favorite, the former Prince was married to Sarah Ferguson. Their marriage which produced two children – Princesses Beatrice and Eugenie – lasted from 1986 to 1996.

The unprecedented arrest and detention of the King’s  younger brother, who turned 66 years today (Thursday) has shaken and shocked both  Britain and the Royal Family. It is the worst scandal the Royal Family has experienced so far.

King Charles had earlier, promised to give the Police every support needed in their investigation.

Meanwhile, the homes of Andrew, who is the 8th in line to the throne are being searched.

Seven Major Changes Following President Tinubu’s Signing Of The Electoral Act 2026

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President Bola Tinubu

By Willie Amadi

Following the signing of the ELECTORAL ACT Amendment Bill 2026 into Law by President Bola Tinubu on Wednesday, February 18, 2026, citizens should note the following seven major changes.

  • 1. Voter registration: Documents required for voter registration are narrowed to 3 : a birth certificate, a Nigerian passport and a National Identification Number (NIN).
  • 2. Downloadable voter card: Voters can download their voter card from INEC’s website.
  • 3. Electronic transmission of results: Electronic transmission to IReV is compulsory.

However, if it fails, the physical result sheet (EC8A) becomes the primary source of collation and results declaration.

  • 4. Mode of party primary election: The new bill adopts direct primaries and consensus as the only methods for political parties to nominate candidates.
  • 5. Disbursement of funds to INEC: Election funds must be released to INEC at least 6 months before the general election. Previously: 12 months.
  • 6. Deadline for submission of candidates’ list: Political parties must submit candidates 120 days before election day. Previously: 180 days
  • 7. INEC’s final list of candidates; INEC must publish candidates’ list 60 days before the election. Previously: 150 days.

Except for the provisor in Section 60 (3) which holds that upon network failure inhibiting electronic transmission; form EC8A becomes the primary mode of collation and result transmission . I’ll say the other amendments are fine.

At this juncture, the National Assembly has done its part. The Presidency too.

Now its left for every citizens to channel their attention to INEC and ensure it:

■Strictly complies with the law and equally treats all political parties and candidates.

■ Deploys technology effectively for voter accreditation, result transmission, and real-time transparency.

■Guarantees timely logistics and efficient distribution of election materials.

■ Protects the integrity of the voters’ register and prevents manipulation.

■Works closely with security agencies to ensure peaceful, violence-free polls.

■ Promptly uploads and publish results to strengthen public trust.

Ultimately, Nigerians are the true government and every institution actually is accountable to the people.

Willie Amadi
Willie Amadi

The people MUST follow the money and question every kobo of the ₦873 billion to be released for the 2027 elections.

  • Question the quality of BVAS machines.
  • Insist on smarter softwares for BVAS and IREV systems.
  • Demand a partnership with a network provider e.g. Starlink for a sure nationwide service for the election week. Coverage over the 177,000 polling unit should cost more than ₦65billion.

Lastly, laws are dynamic not absolute. They are made by men to serve mankind and can be challenged in the courts of law. Therefore, Citizens who are dissatisfied with any, or all of the amendments can challenge the Electoral Act 2026 via a judicial action.

Senator Natasha Akpoti- Uduaghan!

Viva Kogi Central

Viva Nigeria.

ADDENDUM

” Please Iet me also suggest that VOTERS AND PARTY AGENTS SHOULD NEVER ALLOW ANY PRESIDING OFFICER TO LEAVE THE POLLING BOTH WITHOUT UPLOADING THE RESULTS UNTILL WHENEVER NETWORK RETURNS FOR THE UPLOAD OF FORM EC8A RESULTS ALREADY SIGNED BY ALL PARTY AGENTS AND IN THE PRESENCE OF THEIR SUPPORTERS.

■2. AFTER VOTING GO, IF YOU MUST BUT COME BACK FOR THE COUNTING AND UPLOADING OF THE SIGNED RESULTS.

■3. YOU ARE THE REAL AUTHOMATIC TRANSMISSION. IF YOU VOTE AND LEAVE, YOUR VOTE IS COMPLETELY USELESS WALAHI !!!”

■4. MAKE SURE THAT YOU HAVE A WI-FI WITH ENOUGH  DATA TO HOTSPOT THE IRev INCASE THERE IS A CLAIM OF “NO NETWORK” BY RETURNING OFFICERS.

■FINALLY, YOU MUST LAY SERIOUS AMBUSH AT THE  POOLING BOTHS  BECAUSE YOU WILL NOT BE ALLOWED ANY ACCESS AT THE 774 LOCAL GOVERNMENT HEADQUARTERS WHERE THE FRAUDLENT SURGERY OF THE RESULTS ARE CARRIED OUT IF YOU FAILED TO FIRST UPLOAD THE RESULTS AT THE POOLING BOOTHS.

NEVER AGAIN !



Dr Amadi, LL.B, BL, LL.M, Ph.D (Law), is Member, Imo State Council of Elders

Bandits Invade Palace,  Hack To Death Ondo Monarch

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Oba Kehinde Falodun
Oba Kehinde Falodun: Killed by bandits.

By Ayodele Oni

A Traditional Ruler in Ondo State, Oba Kehinde Falodun, the Alagamọ of Agamọ community in Akure North local government area of, has been hacked to death by suspected Bandits, who invaded his palace.

It was gathered that not less than 10 unknown gunmen invaded the palace and started shooting sporadically.

According to a family source who spoke to journalists, the bandits came to his palace on Wednesday evening with a plan to kidnap the monarch but the attempted abduction was repelled by him.

Report added that the gunmen shot the monarch several times, but the bullets did not penetrate his body and they later used another weapon to hit Oba Falodun on the head which led to his death.

The Monarch’s Wife, who also confirmed the incident, stated that the assilants were speaking Hausa, and came through Itaogbolu axis of the community.

Ondo State Police Command, in a reaction, stated that preliminary information received from a community leader indicated that about six armed assailants invaded the monarch’s compound, forcefully whisked him away, and fled towards a nearby bush path.

Police authorities disclosed that upon receiving the distress report, the Divisional Police Officer immediately mobilised officers to the scene alongside tactical teams.

A joint security operation was subsequently launched involving operatives of Amotekun, Atunluse security outfit, and local hunters to comb nearby bushes and adjoining communities in search of the fleeing suspect

Security presence has since been reinforced in the area, with surveillance and stop-and-search operations intensified to forestall further breaches and reassure residents of their safety.

Communities in Akure North area of Ondo state has experienced series of abductions of recent incidents at another community, Ilu-abo where a woman was abducted in her house while two others were shot.

Ondo state Commissioner of Police, Adebowale Lawal and Commander, 32 Brigade Artillery of the Nigerian Army, Brig. Gen. Justin Ifeanyi, had visited the community, following protest by the people over incessant kidnappings.

The people trooped to the ever busy Akure-Owo highway to protest the abduction by some Gunmen of a woman, while two others were shot during the operation.

Confirming the incident in a statement, the Ondo State Police Command stated that it regrets to report that on Sunday, 25th January, 2026, at about 8:00pm, a violent incident occurred at Liberty Avenue, Iluabo area, Ondo State.

The statement signed by the command’s spokesman, Abayomi Jimoh, stated that “preliminary information revealed that about six armed men, whose identities are yet unknown, ambushed and opened fire on one John Ofuduwa, male, while he was driving into his residence in a Toyota Camry saloon car with Abuja registration number GWA 674 CM, during which he sustained a gunshot injury.

“In the same incident, a neighbour, Oladeinde Tomilola, female, who was also about to enter her compound, was abducted by the attackers.

“Furthermore, two other persons, Victoria, female, and her daughter, Victoria Olorunfemi, female, aged 11 years, who were passing through the area, sustained varying degrees of injuries as a result of the gunfire.”

Sterling HoldCo Commences Allotment Of Public Offer Shares

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Sterling-Bank-Building

… Achieves 109.8 percent Subscription

Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) has announced the commencement of the allotment process for its 2025 Public Offer of 12,581,000,000 ordinary shares of 50 kobo each at ₦7.00 per share.

This follows the earlier receipt of final approval from the Central Bank of Nigeria (CBN) and the recent clearance by the Securities & Exchange Commission.

The allotment process, which begins

immediately, marks the continuation of a disciplined, multi-year capital-raising programme that has positioned the Group as one of the fastest-growing financial institutions in the region.

The Public Offer, which opened on September 15, 2025, attracted strong participation from the investing public, with the Company receiving 18,280 applications for 16,839,524,401 ordinary shares valued at approximately ₦117.88 billion.

Following a thorough verification process, valid applications were received from 18,276 shareholders for a total of 13,812,239,000 ordinary shares. This represents a subscription level of 109.79% and reflects

sustained confidence in Sterling HoldCo’s strategic direction, governance, and long-term growth prospects.

In line with the guidelines set out in the offer prospectus, the Group confirmed that all valid applications will be allotted in full. Every investor who complied with the terms of the offer will receive all the shares for which they applied. A very small number of applications were not processed or were partially rejected due to non-compliance with the offer terms, including duplicate payments and failure to meet the minimum subscription requirement of 1,000 units or its multiples, as stipulated in the offer documents.

The Public Offer forms part of a broader capital-raising programme designed to enable Sterling HoldCo expand credit responsibly, accelerate innovation, and provide sustained support to businesses and households across Nigeria.

In addition to strengthening the capital buffers of its banking subsidiaries, Sterling HoldCo will inject ₦10 billion into SterlingFI Wealth Management Limited, its asset management subsidiary, in line with the revised minimum capital requirements for Capital Market Operators issued by the SEC in January 2026.

The capital injection will support the commencement of full operations and contribute to the Group’s revenue diversification objectives.

The Group ensures a seamless post-offer process, with refunds for excess or rejected

applications, along with applicable interest, to be remitted via Real Time Gross Settlement or NIBSS Electronic Funds Transfer directly to the bank accounts detailed in the application forms.

These payments will be processed by the Registrars, Pace Registrars Limited, not later than Tuesday, 17 February 2026.

Simultaneously, the electronic allotment of shares will be credited to successful shareholders’ accounts with the Central Securities Clearing System (CSCS) by the same date.

For applicants who do not currently have CSCS accounts, their allotted shares will be

temporarily held in a registrar-managed pool account pending the submission of their completed account opening documentation to Pace Registrars Limited, after which the shares will be transferred to their personal CSCS accounts.

The Offer attracted significant participation from a new generation of investors, with data from the application process showing that a substantial proportion of successful applicants were first-time shareholders in a financial services company. This broadening of the ownership base reflects growing retail investor belief in Sterling HoldCo’s vision and strengthens the Group’s connection to the communities it serves.

The allotment announcement follows a period of strong financial momentum for Sterling HoldCo. In its FY25 interim results, the Group reported a 99% increase in profit before tax, building on the 102% growth achieved in 2024. Gross earnings rose 46% to ₦476.5 billion, driven by growth across both interest and non-interest income streams, while total assets expanded to ₦3.92 trillion. Customer deposits grew by 18% to ₦2.98 trillion, and shareholders’ funds increased by 39% to ₦424.0 billion, reflecting sustained profitability and balance-sheet expansion.

The Group’s cost-to-income ratio improved to 63% from 72% in the prior year, underscoring the scalability of the Group’s platforms and the resilience of its business model.

This performance is supported by a diversified financial services structure that spans multiple segments of the market. Its core businesses include Sterling Bank Limited, its conventional banking subsidiary; The Alternative Bank Limited, its non-interest banking arm; and SterlingFI Wealth Management, which provides investment and wealth advisory services.

This diversified structure enables the Group to serve a broader customer base, reduce concentration risk, and generate income across multiple revenue streams.

The recapitalisation of the Group’s core banking subsidiaries is already complete. Sterling Bank Limited and The Alternative Bank Limited are fully compliant with the CBN’s revised minimum capital requirements, having received final regulatory approvals in January 2026.

The Alternative Bank, in particular, has emerged as a national non-interest bank with aphysical network now surpassing 150 points, deploying capital to solve real-world challenges through initiatives such as the Mata Zalla project, which trains women as electric tricycle drivers and mechanics, and an agricultural programme in Plateau State designed to secure economic futures.

These outcomes demonstrate that the capital raised is already being put to work in ways that create tangible impact.

Sterling Financial Holdings Company Plc warmly welcomes its new shareholders and thanks all investors for their participation.

With a strengthened capital base, increasing deposits, a diversified earnings mix, and residual capacity for further investment, the Group is well positioned to sustain growth across its subsidiaries, deploy capital responsibly, and support sustainable economic activity.