Home Blog Page 662

Fidelity Bank Commits To Exiting CBN Forbearance By June 30, 2025

By
The Source
-
0
Fidelity Bank Plc

Fidelity Bank Plc has reaffirmed its financial resilience in light of the Central Bank of Nigeria’s (CBN) recent regulatory forbearance measures concerning Single Obligor Limits (SOL) and other credit facilities.

In a statement issued on the Nigerian Exchange (NGX) Disclosures Portal, the bank assured stakeholders of its compliance with the CBN directive while emphasizing its strong capital position and proactive risk management strategies.

According to Fidelity Bank, the forbearance applies to two obligors under SOL and four additional credit facilities. The bank expressed confidence that these exposures would be fully provisioned or restored to performing status by June 30, 2025, ensuring an  exit from all forbearance arrangements within the first half of the year.

Highlighting its capital strength, Fidelity Bank disclosed that its recent Public Offer and Rights Issue raised ₦273 billion—oversubscribed by 237.92% and 137.73% respectively. The bank is set to raise an additional ₦200 billion through a Private Placement in 2025, aligning with the new minimum regulatory capital requirement of ₦500 billion for banks with international authorization.

“With the approval of the CBN and shareholders secured, and ongoing regulatory processes nearing completion, we remain well-positioned to meet prevailing requirements and sustain dividend payments,” Fidelity Bank stated.

The bank expressed gratitude to investors, customers, and stakeholders for their continued confidence, reaffirming its commitment to financial stability and prudent risk management.

Namadi Sambo, Jonathan’s VP, Dumps PDP For APC

By
Adesina Soyooye
-
0
Namadi Sambo

By Adesina Soyooye

Namadi Sambo, a former Vice President of Nigeria, has dumped his Party, the People’s Democratic Party, PDP, for the ruling All Progressives Congress, APC.

Even though Sambo has not issued a statement to that  effect, an APC chieftain, Imram Muhammad, in a post on his X page,  confirmed that the former Vice President, defected to the APC on Friday, June 13, 2025.

Sambo was Nigeria’s Vice President under President Goodluck Jonathan from 2010 to 2015. He and Jonathan lost to then General Muhammadu Buhari and Professor Yemi  Osinbajo in the 2015 Presidential Election.

Before Jonathan picked him as his Vice President when he, Jonathan, became President on the passing of President Umaru Yar’adua, Sambo was serving his second term in office as the Governor of Kaduna State.

Recall that the other day, former First Lady, Patience Jonathan, PhD, publicly stated that she would join current First Lady, Senator Oluremi Tinubu, to campaign for the reelection of President Bola Tinubu in 2027. “She’s my friend, I will join her in the campaign field for the President’s reelection”, Dr (Mrs) Jonathan said.

Seminary Teacher Bags 12 Years In Jail For Sodomizing  11-year Old  Student

By
Suleiman Anyalewechi
-
0
Court and Law

By Suleiman Anyalewechi

For ra3ping  an 11-year old Junior  Secondary School JSS boy, 34 year  old Seminarian teacher, Pascal Ofomata, is to spend the next twelve years in a  Correctional Centre, an Awka High Court ruled o Wednesday, June 18, 2025.

In addition, Justice Peace Otti of the Anambra State High Court barred the convict from further being employed or associated with any educational institutions set up for persons under 18 years, including tertiary institutions.

Ofomata, a teacher at the St. Christopher Junior Seminary 3-3 Onitsha had earlier been arraigned on three-count charges bordering on ra3e, causing physical harm, and sexual abuse.

According to the prosecution, the offences contravene Sections 3 (1) and 4 (1) of the Violence Against Persons Prohibition Law  punishable under section 35 (2) of the Child’s Right Law of Anambra State .

However, despite admitting to sucking the victim’s private part, as well as requesting to be kissed in his statement to the police, the defendant, pleaded not guilty on the grounds that he never penetrated the victim’s anus.

Justice Otti in her ruling held that the prosecution successfully  established the charges preferred against Ofomata beyond any reasonable doubt.

Consequently, the trial Judge sentenced Ofomata to a 12- year jail term.

The prosecution had earlier tendered several documentary and oral evidences, including the victim’s medical  report and Police investigation report to prove its case.

Senate Rejects Tinubu’s Nominee As Rivers Electoral Commission Boss

By
Ayodele Oni
-
0
Michael Odey

By Ayodele Oni

Despite being nominated by President Bola Tinubu for the top job, the Nigerian Senate has told Michael Odey that he cannot be the Chairman of Rivers State Independent Electoral Commission (RSIEC).

This is just as a Civil Rights Group, the Center for Reform and Public Advocacy said that President Tinubu lacked the constitutional power to appoint officials for the Rivers State Independent Electoral Commission (RSIEC) for the purpose of conducting local government election.

Consequently, the group has asked the Senate not to give approval to the nominees of the President for appointment as Chairman and Members of the Electoral Commission.

Addressing Odey’s nomination quagmire during their screening session, the Senate Adhoc Committee on the Emergency Rule in Rivers State questioned the legality of appointing a non-indigene to preside over the State electoral body.

However, defending his eligibility arising from the Senate’s concerns over his state of origin, Odey boldly declared to the Committee-led by Senate Leader, Opeyemi Bamidele, that though he is from Cross River State, his non-indigene status should not serve as a disqualifying factor.

Odey, who hails from the same state as the Rivers State’s Sole Administrator, Vice Admiral Ibok-Ete Ibas (rtd), further explained to the Committee thus; “With utmost respect, I have gone through the RSIEC’s enabling law, and there is nothing that precludes the appointment of anybody outside the state as Chairman of the electoral management body.

“There is no law that bars a non-indigene from serving as Chairman of a state electoral commission.

“My impartiality is guaranteed because I have no affiliations in Rivers State. I will be fair and neutral,” he told the committee”.

But not swayed by Odey’s submission to the panel, Senator Opeyemi said: “We are also in possession of the law, so make it available to the committee because in my opinion, the Independent National Electoral Commission is about the Federal Republic of Nigeria. When we say State Independent Electoral Commission, it is about that state.”

Noting that the nomination raises fundamental questions about legal precedent as well as public perception, the Senate Leader said; “This is not a matter we are just going to gloss over. It has to be something we can defend.

“Even if the law does not prohibit such an appointment, we must ensure it is not repugnant to public conscience. “

The group claimed that only state governors are empowered to do so and that giving approval to the presidential nominees by the Senate would amount to flagrant breach of the 1999 Constitution.

It threatened to take legal action against the Senate should approval be granted to the President’s nomination.

In a letter to the Senate President, the group claimed that there was no vacancy for President Tinubu to fill in the Rivers State Independent Electoral Commission at the moment on the ground that tenure of those legally appointed into the Commission has not lapsed.

In the letter received in the Senate President’s Office on June 17, the group claimed that Tinubu has no constitutional power or power under any law to appoint electoral officers for Rivers or any states in the country to conduct council polls.

The group’s letter, signed by its Head, Legal Unit, Barrister Kalu Agu Kalu, maintained that it was unlawful and illegal for Tinubu to have sought to appoint electoral officers for the purpose of conducting election for local governments in Rivers.

Tinubu To IGP On Benue Massacre: “Why Has There Been No Arrests?”, Tasks, DSS, NIA On Intelligence Gathering

By
Ayodele Oni
-
0
Bola Tinubu and Kayode Egbetokun

Ayodele Oni

President Bola Tinubu has expressed, for the first time publicly, disappointment in the performance of security agencies, as it affects the onslaught in Benue state.

The President, also, expressed surprise at their inability and failure to make any arrests following the most recent massacre, where over 200 people were killed by suspected armed herders. He asked the Inspector General of Police, Dr Kayode Egbetokun: “IGP, why has there been no arrests? There should have been arrests by now”? The President, also, tasked the Department of State Services, DSS and the National Intelligence Agency, NIA, on Intelligence gathering, and urged them to retool for tangible results.

He insisted that there should be swift action to bring the perpetrators to justice and restore calm to the affected communities.

President Tinubu had, on Wednesday, visited Benue State in a decisive move to address the long-standing conflict between herders and farmers, which recently escalated into one of the deadliest attacks in the Region ’s history.

On way forward for lasting peace, the President tasked the administration of Governor Hyacinth Alia with forming a robust peace and reconciliation committee.

According to him, the proposed committee is expected to include former administrators of the state, governors of neighboring states, traditional rulers, non indigene and other critical stakeholders. Their first meeting, according to the President, will take place in Abuja.

“This is not a Benue problem alone,it is a Nigerian problem. Benue must lead the cause by bringing everyone to the table, especially those most affected the local communities.”

As part of long-term solutions, the President also requested land for the creation of a structured ranching system in the state, stating it would help transition the crisis into a platform for peace and economic revival.

Before concluding his visit, the President toured the Teaching Hospital to meet survivors and victims of the violence, offering his condolences and pledging Federal support for their recovery.

“This Government will not abandon Benue. We will invest in its peace and prosperity,” he assured.

The recent attacks have sparked nationwide outrage, with many calling for urgent and lasting intervention.

Earlier on his part, Governor Hyacinth Alia of Benue State asked the Federal Government to establish State Police and an intervention fund following the fresh wave of killings in the North-Central State.

According to Alia, the establishment of state police, though with its challenges, is critical to stemming the tide of violence in Benue State.

Those in the President’s entourage included past and serving governors, the Secretary to the Government of the Federation, George Akume,  himself, a former Governor of the State, and other top government officials.

“We Never Endorsed NSA Ribadu As Vice President Shettima’s Replacement” – APC

By
Suleiman Anyalewechi
-
0
Nuhu Ribadu - NSA
Nuhu Ribadu, NSA

By Suleiman Anyalewechi

The Adamawa State Chapter of the  All Progressive Congress APC, on Wednesday, June 18, 2025, vehemently denied claims that it has endorsed the National Security Adviser, NSA, Nuhu Ribadu, as Presidential  running mate in the 2027 general elections.

The Source reports that the social media has been awash with news of the speculated endorsement of Ribadu to take over from Vice President Kashim Shettima as President Bola Tinubu’s running mate.

The NSA’s rumoured  endorsement was accentuated by events that unfolded at the APC’s Gombe stakeholders’ meeting, Sunday, June 15, where the party okayed the re-election bid of President Tinubu  without mentioning his Vice President Shettima.

The meeting descended into chaos, following  protestations by a section of the delegates led by Prof Babagana Zulum, the Governor of the Vice President’s State, Borno.

Following the outcome of the Gombe-charged convention, speculations became rife that the President may have settled for Ribadu after being endorsed by the Adamawa APC at its meeting in Hong Local Council of the State last weekend.

But in a statement on Wednesday issued by its spokesperson, Muhammad Abdullahi, the Adamawa APC noted that it never endorsed the NSA for any political position at its recent meeting in Hong Local Government or any other place for that matter.

The Party described the reports of the purported endorsement of Ribadu who hails from the State, as a deliberate mischief and distortion of the true purpose and the outcome of the said Hong meeting.

“The attention of the Adamawa state chapter of the APC has been drawn to a news item circulating in some sections of the media regarding a purported endorsement of Tinubu/Ribadu ticket .

“We wish to State categorically that the reports are entirely misleading and misrepresents the purpose of the meeting held in Hong.

“The stakeholders meeting was part of the party’s ongoing grassroots mobilization tour across Local Government Areas in the State.

“The gathering was organized to strengthen party unity ,reenergize grassroots structures ,and communicate the unanimous decision of the state ,zonal and national leadership of the APC to support President Bola Ahmed Tinubu for a second term in office.

“The meeting was held in continuation of our ongoing Local Government tours aimed at mobilizing our members ,and passing down the collective position of the party at all levels– that President Tinubu deserves another four-year term”, the party stated.

However, Abdullahi, while admitting that a vote of confidence was actually passed on the NSA ,who is a worthy son of the State,  cautioned that it should not be misconstrued for an endorsement for any political ambition.

According to the party, there is no basis or justification for endorsing the NSA or any appointee.

“Appointments are made solely at the discretion of Mr President. We, as a party respect that prerogative, and cannot impose, or preempt his decisions”, the APC spokesperson noted.

He insisted that the vote of confidence passed on the NSA was purely in regard of his performance in office as well as his remarkable contributions to National security, and the positive image it has garnered for Adamawa state.

The party, therefore, cautioned against reports that are capable of heating up the polity, through the creation of chaos and division.

Nigerian Civil War: Ojukwu Responsible For Failure Of Aburi Accord – Gowon

By
The Source
-
0
General Yakubu Gowon and Chukwuemeka Odumegwu Ojukwu

By Charles Igbo

Former Nigerian Head of State, General Yakubu Gowon, has put the blame of the failure of  the Aburi Accord which was meant to prevent the Nigerian Civil War on late Biafran Leader, General Chukwuemeka Odumegwu Ojukwu.

Gowon who spoke on Arise Television in an interview with Charles Aniagolu, said that a disagreement between the two of them on the control of the Military caused the failure of the Accord.

According to Gowon, part of the reasons it failed was because  Ojukwu wanted regional Governors to control the Military in their Zones.

Gowon explained that although both parties had an honest dialogue during the January 1967 summit in Aburi, Ghana, Ojukwu, who was the Leader of the Eastern Region leader, turned around to push for  regional autonomy, a push which was not acceptable to the Federal Government.

His words: “Although we said that the military would be zoned, you know, but the control, he wanted, you know, those zones to be commanded by the Governors. Say you have a military zone in the North, it would be commanded by the Governor of the Military in the East, it would be commanded by, you know, by him. And, of course, we did not agree with that one.”

Gowon said that the reasoning was that the Federal Government Delegation to Aburi never felt that the meeting was a forum for constitutional restructuring or military devolution.

He said: “We just went there as far as we are concerned to be able to meet as officers now, and then to agree to be able to get back home and resolve a problem at home. That was my understanding. But that was not his (Ojukwu’s) understanding.”

The former Head of State also revealed that his  health, on return from Aburi, did not help matters as it delayed  his response to the terms which he alleged Ojukwu had unilaterally announced. The delay, according to him, created space for misunderstanding.

He said: “Unfortunately, I was having serious attack,  kind of fever, or whatever it is, and I could not make a decision.”

Gowon blamed Ojukwu for allegedly making unauthorised statements about the Accord instead of  waiting for clarification from both sides.

Gowon: “Ojukwu was the one who, when he came, he went and made a statement about the Aburi Accord.” That announcement, General Gowon said, caused confusion and in order to address the confusion, said Gowon, the Federal Government convened a follow-up meeting in Benin, and  invited all regional governors so as to agree on the path forward. But Gowon said  Ojukwu refused to attend.

His words: “We had to organise that, you know, a meeting of all the Governors. And he was invited to attend so that we can deal with the Accord. And we met at Nifo in Benin. And he did not turn up.”

If Ojukwu had attended the meeting, Gowon posited, both parties might have been able to avoid the escalation of the situation.

According to Gowon, much as the Federal Government was willing to work in the “spirit of Aburi,” it was not prepared to concede the control of national military to Regional Governors or the possibility of secession.

“The only thing that I added was that no Region, you know, will, you know, or can secede from the country.”

The Nigerian Civil War lasted from July 1967 to 1970. Millions of lives were lost on the side of then Biafran Republic, not a few of them, due to starvation.

NAF Complements War Against Banditry With Additional Assets

By
Ayodele Oni
-
0
NAF Super Tucano Fighter Jets

By Ayodele Oni

Various arms of the Military have continued to beef up security in the northern part of the country, with the Nigerian Air Force, (NAF), deploying additional air assets under Operation Whirl Stroke (OPWS) to restore peace and stability in the region.

Air Commodore Ehimen Ejodame, the Director of Public Relations and Information, Headquarters, Nigerian Air Force who disclosed this in a press statement in Abuja, explained that this move reinforces the NAF’s commitment to enhancing security, supporting ground operations, and reassuring affected communities.

“Chief of the Air Staff, Air Marshal Hasan Bala Abubakar, conducted a firsthand evaluation of air operations under OPWS, assessing the effectiveness of expanded efforts.

“The visit included a strategic engagement at the Headquarters Tactical Air Command in Makurdi, attended by senior military officials.

“The CAS revealed that the newly deployed air assets have been successfully integrated into ongoing operations, providing real-time intelligence and precision targeting support.

“NAF aircraft have conducted surveillance, armed reconnaissance, close air support, and precision strike missions with remarkable success.

“The deployment aligns with the Federal Government’s mission to stabilize the Middle Belt region.

“Recent coordinated air and ground operations have dismantled several militia camps and criminal hideouts, reinforcing the NAF’s commitment to protecting innocent lives and supporting national peace-building initiatives.”

The Service Chiefs emphasized the importance of synergy among the Armed Forces and other security agencies, noting that jointness remains crucial for operational success under Operation Whirl Stroke.

They reiterated that the ongoing operations aim to create a secure environment where residents can live and conduct their legitimate activities without fear.

Ekiti Governorship: No Automatic Ticket For Oyebanji – APC

By
Ayodele Oni
-
0
Biodun Oyebanji - Ekiti State Governor

By Ayodele Oni

The Ekiti State chapter of the All Progressive Congress,(APC), has clarified that current wave of adoption of Governor Biodun Oyebanji does not mean an automatic ticket for his second term.

The APC maintained that the endorsements by different strata of the society does not, in anyway, stop other willing aspirants from contesting the primaries with him.

The Independent National Electoral Commission (INEC) had fixed governorship election in the state for June next year, while party primaries are to hold before the end of the year.

Mr. Segun Dipe, State Publicity Secretary of the party, made the clarification in Ado-Ekiti, during a chat with Newsmen.

“Some might have been wondering why virtually everyone is rooting for the governor, but I think that is not his fault. It is not his making.

“Perhaps his performance is what is speaking for him, and yet, others are free and welcome to contest with him, if he eventually shows interest.

“Don’t also forget that the law allows people, including the governor, to show interest, because constitutionally, he has eight years tenure of two terms to run, if the people so permit him.

“The fact that the people are trying to re-present Oyebanji may have clearly shown that he has done quite a lot that attracted them, and it is believed that he does not have control over that.

“But I am insisting that as a party, all individuals are free to come and try their luck,” he said.

He pointed out that contrary to the wrong impression being created by some opposition figures in the state, the mass adoption of the governor by individuals, groups, societies and institutions was never the making of the governor, saying it was based on his achievements and performance as a good ambassador of the party.

According to him, the ruling APC in the state is not leaving anything to chance, despite the growing adoptions, maintaining that the current administration would stop at nothing to fully deliver on all of its electoral promises.

He announced that the APC, despite being a ruling party in the state, is not taking anything to chances, saying continued membership drive remains a top priority.

On the tenure of the current party EXCO, he said the current crop of leadership came into office in 2021, and are expected to wind down this year.

However, he said such winding down would still be subject to the national headquarter’s decision, “believing that no serious party will want to change the goal post, in the middle of the game.”

NLC, Teachers, FCT Workers To Embark On 3-Day  Protest Over N70,000  Minimum Wage, Unpaid Arrears

By
Suleiman Anyalewechi
-
0
NLC Strike

By Suleiman Anyalewechi

Effective June 23, 2025, the striking Joint Union of Nigeria Union of Teachers  NUT, Nigeria Union of Local Government Employees NULGE, and National Association of Health Workers Union, will be hitting the streets of the Federal Capital Territory FCT for a three-day show down to draw attention to their plight, the Joint Union officials announced on Wednesday, June 18,2025.

This is as the Nigeria Labour Congress, NLC, signaled its readiness to lead a mass action, and picketing of the entire FCT administration.

The Source reports that the FCT teachers/Local Council workers had since March 24, 2025, embarked on an indefinite industrial action to press home their demands for the implementation of the minimum wage, and payment of outstanding allowances.

Although the strike action has completely paralyzed teaching and learning activities within the over 400 public primary schools, as well as the six Area Council of the FCT, the authorities have remained insensitive to the plights and demands of the concern personnel.

The striking teachers and Local Government workers are accusing the FCT adminstration of paying lip service to a Memorandum of Understanding MoU entered into with them on December 11, 2024.

The tripartite MoU which involved the FCT, and the three industrial unions- NUT, NULGE and Health Workers Union, centred on the payment of the N70,000 new minimum wage, the settlement of at least five months of accumulated allowances ,and the setting aside of at least 50% of the IGR of the six FCT Councils for the settlement of the arrears and minimum wage.

According to the MoU, the Minister of State FCT, was to head the Implementation Committee.

However, the striking teachers and Council workers regretted that several months after the signing of MoU, nothing has been done.

The Unions said their decision to take to the street was sequel to the expiry of NLC’s earlier seven days ultimatum given the Councils to settle all areas of disagreement with the workers .

The  NLC dateline  ended on Wednesday June 18,2025 ,without any response from the FCT authorities.

An earlier protest scheduled by the workers for Thursday June 19, has been shifted forward to align with the general NLC organized protest on June 23, one of the striking teachers volunteered .

The FCT NLC, in a letter issued on Wednesday by its Chairman, Stephen Knabayi, expressed deep disappointment over the continued refusal of the FCT Council authorities to pay teachers and others their new minimum wage.

“Your refusal to act on our position letter and demands, served on you since 24th of April, 2025 was noted with displeasure. Also, you have not acted on our letter dated 16th of May ,2025”, the NLC stated in a letter to the FCT authorities.

Consequently, the NLC said it has resolved to take mass action unless urgent steps are taken to resolve the disagreement.

1...661662663...3,060Page 662 of 3,060