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“I Will Restore Orlu As Imo’s Economic Hub”

May 25, 2025

The Imo State Governor, Senator Hope Uzodimma has assured the people of Orlu of his administration’s resolve to restore the city as the business hub of the State.

He made the promise at the Holy Trinity Cathedral Orlu weekend, where the leadership and members of the Catholic Women Organization (CWO) of the Diocese honoured his wife, Barr. Mrs. Chioma Uzodimma with the prestigious Nneoma Nwerugwu Merit Award.

The CWO said the choice of the title for the First Lady of Imo State was in recognition of her outstanding motherly role since assuming that role.

Addressing the recent economic difficulties faced by the Orlu community which he attributed to the detrimental actions by those against progress, Governor Uzodimma emphasised that, “despite these obstacles, God has demonstrated His support for the area and envisioned a future where Orlu is recognised for its enterprise and community spirit.”

He however pledged support for the completion of the proposed N500 million Queen of Peace Female Hostel Complex, by immediately rallying support from his friends who accompanied him to the venue of the event at the Cathedral to make appreciable financial commitments for the project.

The Governor not only thanked the Orlu Diocesan CWO for the honour bestowed on his wife and other deserving mothers, but expressed gratitude over the support his family has received from the Bishop of the Orlu Catholic Diocese, Most Rev (Dr.) Augustine Ukwuoma over the years.

Earlier in his homily, the Bishop Ukwuoma emphasised the special role of mothers in society, noting that “the Diocese recognises and rewards Catholic mothers who have made significant contributions to the service of God and humanity, as well as those who exhibit exemplary behaviour in their homes, parishes, and communities.”

Bishop Ukwuoma referenced notable mothers in the Bible who made positive impacts, but expressed concern that “many modern mothers are not living up to their roles as societal role models.”

He congratulated all the mothers who were honoured and urged all mothers to raise their children properly, asserting that “strong families are essential for a peaceful and secure nation.”

Bishop Ukwuoma who also praised the wife of the Governor for her motherly virtues and societal status, affirmed that she deserved the award given to her.

He however encouraged Mrs Uzodimma to continue supporting her husband in his efforts to work for the benefit of the State.

Wife of Ogun State Governor, Mrs. Bamidele Abiodun and that of Ebonyi State, Mrs Mary- Maudline Nwifuru were among the dignitaries at the event.

MDCN Turns Down Registration Of Nigerian Medical Students From Sudan

Ayodele Oni

May 25, 2025

By Ayodele Oni

Inability to produce necessary visas by a group of Nigerian medical students from the war torn Sudan has blocked their chances to register for necessary Examinations being conducted by the Nigerian Medical and Dental Council, (MDCN).

The affected students doctors, numbering 47, escaped from the war-torn Sudan in May 2023, and are now struggling to register for the MDCN examination due to a document snag.

The students, many of whom fled or were evacuated by the Federal Government without exit visas, are currently racing against time to meet the registration deadline, with their future careers hanging precariously in the balance.

The News Agency of Nigeria (NAN) reports that these students, who were enrolled at Sudan International University (SIU), were evacuated to Nigeria during the 2023 conflict in Sudan while some of them were in final year of study.

According to the students, with the approval of the National Universities Commission (NUC), they were permitted to continue their academic programme at Usmanu Danfodiyo University Teaching Hospital (UDUTH) in Sokoto.

Speaking to NAN on Sunday in Abuja, one student said: “We successfully completed our studies and graduated in 2024, receiving our certificates as students of SIU.”

He added that they were currently preparing to sit for the MDCN examinations and that one of the requirements was presenting a first entry visa and a last exit visa.

“Unfortunately, none of us have these documents as most of our passports remained in Sudan due to the emergency evacuation. We respectfully request permission to sit for the examinations scheduled for June 2025.”

The President of the Nigerian Students Association at SIU, Najid Hassan, confirmed that due to the war in Sudan, Nigerian students were evacuated by the Federal Government.

Hassan explained that with NUC approval, the affected students were allowed to continue their academic programme at UDUTH following a Memorandum of Understanding (MoU) between SIU and UDUTH.

“After the MoU, we resumed studies at UDUTH in December 2023 and spent one year there. We completed clinical rotations, lectures in gynaecology, pediatrics, surgery, and medicine, and graduated in October 2024.

“We took examinations supervised by consultants at UDUTH.”

He explained that after graduation, students were awarded certificates bearing the SIU name.

Hassan, however, said that when they approached MDCN for registration, the process, expected to be seamless, became challenging.

“We are currently preparing for the MDCN exams, but one requirement is the submission of a ‘first entry visa and a last exit visa.”

He added that after graduation, students were awarded certificates bearing the SIU name.

Hassan, revealed further that when they approached MDCN for registration, the process, expected to be seamless, became challenging.

“We are currently preparing for the MDCN exams, but one requirement is the submission of a ‘first entry visa and a last exit visa.’

“Unfortunately, none of us have these documents because most passports remain in Sudan due to emergency evacuation.” He appealed to the Federal Government to intervene.

NAN reports that MDCN is the regulatory body for Medicine and Dentistry in Nigeria and was established by the Medical and Dental Practitioners Act.

The Act had been operational since December 18, 1963, and updated under the Laws of the Federation of Nigeria 2004.

The council’s statutory functions include setting and reviewing standards for medical and dental education.

JAMB Releases Result Of UTME Resit, Confirms 21,082 Absent

Ayodele Oni

May 25, 2025

By Ayodele Oni

As a follow up, the Joint Admissions and Matriculation Board, (JAMB) has released the results of its resit examination conducted for candidates affected by the technical error during the 2025 Unified Tertiary Matriculation Examination, (UTME).

Public Communication Advisor of JAMB, Fabian Benjamin, in a statement released on Sunday, stated that the board announced the results, revealing that out of the 336,845 candidates rescheduled for the examination, 21,082 were absent.

The statement added that no explanation was provided for the high number of absentees, but JAMB announced a mop-up examination for candidates who missed the initial UTME, including those whose absence had no specified reason.

The Board in the statement raised concerns about widespread examination malpractice involving candidates, school proprietors, and CBT.

It was gathered that a meeting of Chief External Examiners, chaired by Prof. Olufemi Peters, endorsed the resit results based on psychometric analysis by Prof. Boniface Nworgu.

“JAMB approved the release of results for under-aged candidates, though these do not qualify them for admission unless litigation is involved.

“As part of the healing process, the meeting resolved that the withheld results of under-age candidates (except where litigation is involved), who performed below the established standards, be released.

“Such result does not, however, qualify them for admission, as they had previously signed an undertaking during the registration process acknowledging that only those who meet the prescribed standards would be considered for under-age special admission.”

The Board also granted a one-time waiver for candidates involved in online malpractice.

“Release of Result of Candidates involved in ‘WhatsApp Runs’ and other Misdemeanours. This category of candidates were found to have been involved in illicit solicitation of assistance.

“The meeting emphasised that its decision is not an endorsement of candidates’ unacceptable acts, but rather a once and for all waiver.

“Candidates were thus advised to refrain from joining questionable ‘WhatsApp and other anti-social groups.”

According to the board, CBT centres implicated in malpractice will be blacklisted and their owners prosecuted. Those involved in biometric or identity fraud will also face legal action.

“The meeting condemned the involvement of some CBT centres in perpetrating serious registration and examination malpractices and resolved that all the implicated CBT centres should be blacklisted, while complicit owners should be prosecuted.

“In addition, the identified individuals, who directly registered the candidates with modified pictures and biometrics be apprehended and prosecuted.”

It further reaffirmed its support for CBT and plans to bring in consultants to enhance the registration process.

Efforts to politicise technical issues along tribal lines, were condemned in the meeting, as they urge unity and caution against the divisive narrative.

“The meeting expressed with regret the attempts by some groups to exploit the unfortunate incident to disseminate tribal and sectional narratives.

“The unfortunate incident is not targeted at any section of the country, neither was it caused by any particular section of the country.

“It was emphasised that such narratives risk exacerbating existing divisions within society and even the JAMB workforce.

“The meeting commended the Registrar and the Management of JAMB for the competent and sincere handling of the unfortunate incident and urged them to remain steadfast and courageous.”

JAMB also dismissed claims of high scorers in cancelled sessions, stating 99% scored below 200, with only a few reaching 217.

The Board also condemned attempts to exploit the situation, citing the case of Olisa Gabriel Chukwuemeka, who falsely claimed to have scored 326 in the 2025 UTME.

JAMB confirmed he had altered his 2024 result of 203 and had actually scored 180 in the 2025 exam before his result was withdrawn. He later deactivated his social media account following public backlash. The results of the 2025 UTME were originally released on 9 May.

The Board criticised unregulated tutorial centres aiding malpractice and urged government regulation.

JAMB Registrar Professor Ishaq Oloyede had revealed that the results of 379,997 candidates across 157 centres in the Lagos and South-East zones were compromised due to a technical glitch.

During the press conference, the Registrar burst into tears as he apologised for the error and confirmed that affected candidates would be required to retake the examination.

He attributed the issue to faulty server updates, which prevented the proper upload of candidate responses during the first three days of the examination.

NCS First Quarter Revenue Up Rises To N1.3 Trillion – Comptroller-General

Ayodele Oni

May 24, 2025

By Ayodele Oni

The Nigeria Customs Service, (NCS), is counting its blessing from the economic reform programme of President Bola Tinubu’s administration. The NCS claims it has shot up its revenue.

It announced that it has recorded an unprecedented revenue of ₦1.3 trillion in the first quarter of 2025, more than double the ₦600 billion collected during the same period in 2023.

Comptroller-General of Customs, Bashir Adeniyi attributed this remarkable growth to transformative reforms under President Bola Tinubu’s Renewed Hope Agenda.

A statement on Saturday by the Special Adviser to the President on Media and Strategy, Bayo Onanuga, stated that this was revealed in an upcoming State House documentary marking the President’s second anniversary.

Adeniyi highlighted that the revenue surge emanated from improved technological deployment, enhanced port operations, tightened enforcement on revenue leakages, and a renewed culture of accountability across Customs commands.

“We collected ₦1.3 trillion in Q1 2025 alone. This is not due to higher import volumes. Imports have dropped due to foreign exchange constraints. What has changed is efficiency, transparency, and enforcement.”

He disclosed that the Service is preparing to launch the E-Customs Modernisation Project. This $3.2 billion initiative will digitise cargo processing, surveillance, and payment systems across Nigeria’s ports and borders.

“We’re laying the foundation to move from a manual, paper-based system to a fully digital service. The E-Customs Project is central to our future. Once fully deployed, we project it will add $250 billion in cumulative revenue over 20 years.”

Adeniyi added that the newly launched Authorised Economic Operator (AEO) Programme is now onboarding pre-vetted importers, allowing compliant businesses faster processing and reducing port congestion.

“It’s about trust and efficiency. If you’re compliant, you get green-lane treatment. This is how modern customs systems work globally.”

The Customs CG confirmed that the Service has intensified its anti-smuggling operations and closed long-standing revenue leakages.

He disclosed that over ₦64 billion was recovered from previously under-assessed or undervalued imports in the last nine months, and major smuggling rings at the Seme, Idiroko, Katsina, and Sokoto borders have been dismantled.

According to him, the new joint border patrol task forces established in coordination with the Nigerian Army, DSS, and Police have also yielded positive results.

“We’re no longer just chasing smugglers in the bush. We’re using data, surveillance drones, and port intelligence to act in real-time. Once systemic leakages are now being plugged.

“Right now, you deal with up to 15 agencies manually. With the Single Window, you’ll do it all online, in one place. This will slash clearance time and costs.

“We’re promoting exports aggressively. Last year, Nigeria exported over ₦340 billion worth of solid minerals and agro commodities through formal channels, up by 38%. We’re targeting even more in 2025.

“Customs is no longer just about physical inspection. We are becoming an intelligence-led organisation, and our officers are being retrained to match global standards.

“The President gave us a clear directive: block leakages, facilitate trade, and raise revenue without burdening Nigerians. That is what we are doing. And the results are beginning to speak for themselves.”

2027: Obi Assures Supporters He Will Vie For Presidency

Akinwale Kasali

May 24, 2025

By Akinwale Kasali

Peter Obi, Labour Party, LP, Presidential Candidate at the 2023 Election has assured his supporters that he would run for the office of the President in 2027. His preferred platform is still LP.

The former Anambra State Governor gave the assurance while speaking to a group of young supporters in a 7-minute, 16-second video circulating on the party’s WhatsApp platform on Saturday.

Obi explained to his audience that what appears to be an internal crisis in the two dominant opposition political parties – the Labour Party and the Peoples Democratic Party, PDP – has the Government’s imprint written all over them.

In response to a question on which platform he intended to contest the 2027 elections, Obi said, “I will still continue to run in the Labour Party. I’m a member of the Labour Party.”

Speaking on his aloofness towards the LP’s crisis, the former Anambra State Governor said: “What is happening in the Labour Party and the PDP is caused by the Government. Quote me anywhere.

“We had a problem in our party before, in the past. Yar’Adua was the President. I went to him then; he called the INEC Chairman (Prof. Maurice Iwu) and told him I don’t want any problem in any party. We were forced to fix it.

“But today, in all the parties, there are problems. These are deliberate problems caused by the system. These are some of the things I want to clean up if I have the opportunity.

“Parties will function very well because you can’t have a system working without a strong opposition.”

He appealed to Nigerians to take responsibility for ensuring that their votes count because even if agents are paid by political parties to look after their interests, the ultimate decision about the people’s vote-counting rests with voters.

He further appealed to Nigerian youths and the electorate not to be discouraged because positive change will also be resisted by those who are beneficiaries of the old order.

Senator Ndume Makes U-Turn, Hails Tinubu For High Profile Appointments Given 12 Northerners

Suleiman Anyalewechi

May 24, 2025

By Suleiman Anyalewechi

Former Senate Majority Leader, and Senator representing Borno South Senatorial District, Ali Ndume has lauded the efforts of President Bola Ahmed Tinubu at addressing concerns about regional imbalance in his appointment structure.

Senator Ndume’s commendation is coming against the backdrop of the appointment of no fewer than 12 Northerners into various Federal Government strategic positions.

The Source reports that President Tinubu had on Friday, May, 23, 2025, appointed Hamza Ibrahim Baba ( kano) ,Shehu Umar Danfulani from Zamfra state ,Abubakar Umar Jarengol ,(Adamawa state ) Samaila Audu from Katsina and seven others from the North into various Federal parastatals ,including the headship of the Nigerian Agricultural Insurance Corporation NAIC.

The Tinubu administration has been widely perceived and accused of brazenly and unapologetically saturating the system with those from his Yoruba ethnic nationality.

Although, the embarrassing trend had characterized the eight-year tenure of former President Muhammadu Buhari, the present adminstration, many have posited, appears to have elevated nepotism to an official policy.

But reacting to the latest appointments that was heavily tilted in favour of the North, Senator Ndume, in a statement on Saturday, May 24, 2025, acknowledged the President’s penchant for condoning constructive criticisms.”

It will be recalled that about weeks back, Ndume had launched a scathing public attack on the perceived lopsidedness of Federal appointments under Tinubu’s Presidency.

He had specifically accused the President of gross abuse and violation of the Constitution of the Country, as it relates to Federal character principles.

However, the Borno State Senator praised the President for rising to the criticisms with his latest bout of appointments.

“Our leaders in the North, including myself, raised our voices against perceived imbalances in key appointments.

“The hallmark of a true Statesman is his willingness to reassess decisions that spark widespread dissent. President Tinubu has done just that.

“This action shows that the President is a responsive leader. It addresses the imbalance thrown up by earlier decisions that left the North feeling sidelined”, Ndume noted.

According to him, the recent appointments are eloquent corrective measures by the President to strike a balance in the governance space of the country.

This is even as he insisted that his past criticisms of the Government was never borne out of personal interest but by the higher principle of ensuring that the North is included in the scheme of things.

While pledging his unflinching support to the President, he nevertheless reaffirmed his determination to speak out when the need arises.

He urged the appointees to justify the confidence reposed in them by way of giving their best to the system.

Sultan Decries Religious, Ethnic Bigotry, Commissions Islamic Centre Named After Tinubu

Ayodele Oni

May 24, 2025

By Ayodele Oni

The Sultan of Sokoto, Muhammed Sa’ad Abubakar III, has advised that for Nigeria to be great, the people must de- emphasize religious and ethnic differences.

The Sultan applauded President Bola Tinubu’s religious promotion and tolerance in Nigeria, saying the move was responsible for the economic gains recorded across the country.

The Sultan made the remark on Saturday at the commissioning the Bola Ahmed Tinubu Darul’Ilm Centre for Islamic Studies in Kaduna, built and donated by the Director General of the Department of State Services (DSS), Mr. Tosin Ajayi for orphans and the privileged.

The Sultan, who stressed that Nigerians must de- emphasize religious and ethnic differences, said it was the ability of other economically successful countries to overcome these differences, that led to their greatness.

He commended President Tinubu for appointing Mr. Ajayi as DSS DG, saying the appointment has helped the president build several bridges of cooperation across the country.

The Sultan described the resolve of Mr. Ajayi, “a Christian, to build an Islamic school for orphans and the less-priviledge” as “a legacy project which would outlive most persons present.”

He further described the project as a laudable one, and urged Nigerians to emulate, stressing that “Doing things like this will make Nigeria a better place.

“The coming together of people of different faiths and ethnicities will help bridge the gaps of disunity and de-emphasize the problems of this country.

“The presence of heads of sister security agencies here today shows the synergy amongst our security services and the trust they have in Tosin Ajayi.”

Speaking, the DSS boss, who was represented by a retired director of the Service, Alhaji Ahmed Zalmar, said he began nursing the idea to build the school during his years of service in the state.

The law setting up the DSS, he said, empowers the secret police to prevent five major threats to internal security, including espionage, insurgency, sabotage, subversion and terrorism.

The DSS boss added that as a trained security officer, he identified reducing discontent in the populace as a powerful counter-subversion strategy.

He said he equally identified education as a key method of dousing discontent.

“The latest of such is the building and donation of the well-furnished modern Islamic school with support from my friends and associates, which also reflects the core mandate of President Tinubu.

“It is also part of my policies to improve the nation’s internal security architecture through conventional and non-conventional engagements.”

The DG explained that he chose to channel the support for the well-being of vulnerable and needy groups through several social projects, including building of schools, places of worship and sport centres, among other centres.

Ajayi clarified that he had never used operational funds or budgetary provisions for the philanthropic gestures aimed to win the hearts of the vulnerable population towards defeating insurgency and terrorism.

“I have always channeled parts of Corporate Social Responsibilities and other financial support from stakeholders for such purposes.”

Also speaking at the event, Minister of Finance, Mr. Wale Edun, who was accompanied by his Budget and Economic Planning, Atiku Bagudu, emphasised the importance of education to Nigeria’s future.

He praised President Tinubu’s support for faith-based education initiatives and school feeding programmes.

“By 2050, 25 per cent of the global workforce will be African, with many from Nigeria,” noted the minister, stressing that, in spite of challenges, progress was evident in economic growth, increasing foreign reserves, stabilising inflation, and decreasing food and energy prices.

Osun Communal Clashes: Gov Adeleke Relaxes Dusk To Dawn Curfew

Ayodele Oni

May 24, 2025

By Ayodele Oni

Following the return of peace to warring communities of Ifon, Ilobu and Erin, Osun State Governor, Ademola Adeleke has relaxed the curfew imposed on the communities.

The new curfew hours will now be from 9:00 pm to 5:00 am, effective from Sunday.

The curfew was imposed following weeks of tension and communal clashes in the affected communities.

Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi, announced the decision on behalf of the Governor on Saturday.

Governor Adeleke expressed satisfaction with the current peace and urged the communities to maintain it.

Adeleke warned traditional rulers of the three towns to ensure peace is sustained or face the law.

According to the release, the governor directed security agencies to continue to monitor the communities around the clock.

The Governor commended stakeholders and community leaders for their efforts toward restoring harmony.

The Government emphasized that the curfew will remain until full peace is achieved.

The statement by Alimi reads: “Following near total return to peace in the warring communities of Ifon-Ilobu- Erin Osun, it gladdens my heart, as the Chief Security Officer of Osun State to direct that the hitherto 6 pm-6 am curfew will now be between 9pm to 5am of the following day. This is with effect from tomorrow, Sunday, 25th May, 2025.

“I commend the three towns and other stakeholders for the peace and harmony currently taking shape, I urge that you should please keep it up.

“However, I hereby direct that a contingent of all security personnel, comprising the Army, Police, DSS and Civil Defence should accordingly continue to keep a 24 hours surveillance in the three communities.

“Finally, I am using this medium to wish our dear Muslim and non Muslim brothers and sisters in the three towns of Ifon Ilobu and Erin Osun as well as Osun State in general a happy Eid El Kabir festival in advance.”

Military Storms Katsina Banditry Enclave, Kills 21

Suleiman Anyalewechi

May 24, 2025

By Suleiman Anyalewechi

The Katsina State Governor has lauded the profound professional acumen and dexterity exhibited by troops of the 17 Brigade Strike Group of the Nigerian Army in responding to insurgency threats in the State.

His commendation comes on the heels of the neutralization of no fewer than 21 banditry elements on Friday, May 23, 2025 by troops in Shawu Forest, Ruwan Godiya Ward of Faskari Local Council of the State.

A statement at the weekend from the Katsina State Commissioner for Internal Security and Home Affairs, Dr Nasiru Muazu, informed that some of the bandits were felled directly by troops bullets during coordinated raid on the strong hold of the hoodlums at about 8.50 am of Friday,while others drowned in a river in a bid to escape the firepower of troops.

He explained that the military exercise was part of the new measures put in place by the State Authorities and security agencies to decimate the operational capabilities of the terrorists

“As part of the ongoing kinetic phase of Operation Forest Sanity III, OPFS, troops of the 17 Brigade Strike Group ,Nigerian Army, successfully carried out a deliberate attack on a terrorist enclave in Shawu Forest ,Ruwan Godiya Ward, Faskari LGA.

“The operation resulted in the neutralization of several terrorists and the decimation of their operational capacity.

“At approximately 08.50 am on 23rd May, the crack troops assaulted the terrorists positions engaging them in a fierce gun duel.

“The intensity of the attack forced the terrorists to abandon their camps and flee into the dense bushes and rocky terrain ,using their livestock as a shield for their escape.

“Undeterred ,the troops pursued the fleeing terrorists ,engaging them relentlessly ,including those attempting to escape by crossing a river.

“In the course of the operation ,21 terrorists were killed ,including those swept away by the river while trying to escape . Interestingly ,there were no casualties on the part of the military team”, part of the statement reads.

“During the operation, several weapons, ammunition, and other items including about forty motorcycles and a large number of rustled cattle were recovered from the bandits’ camps according to the Commissioner.

Some of the hostile equipment recovered were five AK-47 rifles, one General Purpose Machine Gun, a pump-action rifl, 21 AK-47 magazines, and 17 Motorola Communication radios.

“A large quantity of ammunition ,and other vital items ,including 64 rounds of 7.62 mm NATO belted ammunition ,448f rounds of 7.62mm special ammunition, four pump action cartridges ,two RPG-7 chargers ,one RPG-7 bomb and five CS 48mm hand grenades were also recovered .

“Further recoveries included a motorcycle manual pump ,an empty wallet ,three jungle bags containing various charms, and a sum of fifteen thousand two hundred ,and sixty naira ( N15,260)” Muazu stated.

Governor Radda, particularly, attributed the series of successful operations against terrorists in the state to the exceptional level of professionalism, bravery and commitment shown by troops.

While urging the Military to sustain its present efficient operational measures, he, also, reaffirmed his administration’s commitment towards supporting security agencies in their bid to stamping out all forms of security challenges in Katsina State.

Fidelity Bank Denies Allegation Of Insider Abuse Against MD; NGX Gives Lender Clean Bill

Bayo Bernard

May 24, 2025

By Bayo Bernard

Fidelity Bank Plc has debunked reports that its Managing Director/ Chief Executive, Dr. Nneka Onyeali-Ikpe abused her position by allegedly involving in an insider trading over the 18 millions shares she acquired recently from the bank.

The commercial bank described the report by Sahara Reporter as patently false, misleading, and intended to malign its integrity and that of its Chief Executive Officer.

The rebuttal is contained in a statement issued by the bank and made available to the magazine on Saturday, titled “Share Purchase Transaction of the MD/CEO of Fidelity Bank Plc In Compliance With Regulatory Guidelines.”

Instructively, the Nigerian Exchange Limited, NGX has responded by giving the bank a clean bill on the allegation that its Chief Executive breached any rules by purchasing the shares.

The magazine reported that Dr Onyeali-Ikpe recently purchased 18 million shares of the bank valued at approximately ₦366 million, a move described by key stakeholders as her demonstration of leadership by example. Her action, according to keen stakeholders have further boosted investors confidence in the commercial bank.

The acquisition is not an isolated gesture, according to those keenly watching the bank. Between November 21 and 22, 2024, she purchased 15 million shares worth ₦239.4 million, and subsequently added another 10 million shares valued at ₦157.9 million on November 26 and 27, 2024. These cumulative investments reflect a consistent pattern of personal commitment to the bank’s long-term success.

According to the lender, its Chief Executive was not involved in any insider trading by purchasing the shares, her action conformed with regulatory extant rules, and in tandem with happening in other quoted companies in the country, noting that the shares were funded using her personal funds and not the bank’s resources, considering that she did not, at any material time, take “a loan from the Bank, or used its funds to purchase the shares” as was reported by Sahara Reporters.

The bank further described the report published on May 21 by the online medium as not only false but “fabricated allegations”, saying the suggestion that the Managing Director took personal advantage of material price, sensitive information, to engage in insider trading is “blatantly false” and “misleading”.

The bank noted that the transaction was conducted strictly in accordance with the Listing Rules of the Nigerian Exchange, NGX, having been well advertised on its floor, adding that under its Insider Trading Policy, ITP, the bank ensures that its “Insiders” and their “Connected Persons” transact in the Company’s shares only when trading in its securities is permitted.

The bank further stated that the NGX has cleared Onyeali-ikpe and granted a clean bill after carrying out a thorough investigation over the issue.

The NGX had, in a response to the bank’s inquiry on whether its Chief Executive breached extant rules, said “the share purchase transaction referenced by Sahara Reporters which occurred on 19 May 2025 was transacted during an open trading window” and no insider abuse involved.

Below, the bank’s statement:

“We are constrained to respond to a patently false, misleading and malicious publication against Fidelity Bank Plc and its MD/CEO, Dr. Nneka Onyeali-Ikpe, by Sahara Reporters.

“The misleading article, which was published on May 21, 2025 contained fabricated information about the Bank and its MD/CEO including blatantly false allegations that our MD/CEO took personal advantage of material price sensitive information to engage in insider trading and used the Bank’s funds to purchase 18 million units of its shares.

“Based on the fact that Fidelity Bank Plc is a public quoted company regulated by the NGX and subject to the Listing Rules of the NGX as well as the Regulations issued by the Securities and Exchange Commission (SEC), we unequivocally confirm that:

“(a) Neither the Bank nor its MD/CEO has ever engaged in insider trading at any time.

“(b) The MD/CEO funded the referenced share purchase transaction (the transaction) from personal sources. She neither took a loan from the Bank nor used its funds to purchase the shares.

“(c) The transaction was conducted strictly in accordance with the Listing Rules of the Exchange and the regulations guiding insiders’ dealings in the shares of public quoted companies.

“(d) The transaction was duly disclosed and published on the trading floor of the NGX in accordance with the Listing Rules.

“(e)Similar transactions are undertaken by the insiders of various public quoted companies virtually on a daily basis and published on the Disclosure Portal of the NGX.

“(f)In addition to the SEC and NGX Rules and Regulations on insider trading, the Bank has a documented internal Insider Trading Policy that ensures that its “Insiders” and their “Connected Persons” transact in the Company’s shares only when trading in its securities is permitted (i.e. Open Periods).

“In this regard, we confirm that the trading window for dealing in the Bank’s shares was declared open to insiders on May 4, 2025, sequel to publication of its Q1 2025 unaudited accounts on the trading floor of the Exchange on April 30, 2025.

“(g) The trading window for insiders to deal in the Bank’s shares remains open. We shall continue to publish details of their dealings in the Bank’s shares until the trading window is declared closed, as required by extant regulations.

“Given the gravity of the false allegations in the malicious publication by Sahara Reporters, which were not only maliciously intended to impugn the hard-earned reputation of the Bank and its MD/CEO, but to also mislead the investment community and general public. We by a letter dated May 22, 2025, formally requested that the NGX carry out an independent review of the referenced share purchase transaction based on extant trading rules by insiders and revert with its findings.

“In response to our request for an independent review, the NGX by a letter dated May 22, 2025, confirmed unequivocally that:

‘Following the filing of the Bank’s 2025 Q1 UFS on 30 April 2025, the Directors and other insiders of the Bank became eligible to trade on the securities of the Bank after twenty-four (24) hours. Therefore, the share purchase transaction referenced by Sahara Reporters which occurred on 19 May 2025 was transacted during an open trading window and NGX RegCo is not aware of any other price sensitive information that the Bank is required to disclose which should hinder trades on the securities of the Bank by insiders.’

“We believe that the above clarification by the NGX would be reassuring to the domestic and global investment community, our domestic and foreign regulators/counterparties and the general public, while ensuring sustained confidence in the operations of the Nigerian capital market.

“Fidelity Bank Plc remains a very strong, profitable and responsible financial institution and amongst the most capitalized banks in Nigeria today with international operations.

“As a responsible financial organization with a history of strong corporate governance standards, we wish to assure all our customers and stakeholders of our unwavering commitment to upholding the highest level of ethical standards in all our dealings.

“Furthermore, we shall pursue all legal remedies available to us in relation to these malicious and sponsored publications which were clearly intended to defame the character of our Managing Director/CEO and cause reputational damage to the institution.”

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