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Tinubu To Supreme Court: I Took The Right Decision On Rivers’ Emergency Rule

By
James Orji
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Supreme Court Seat

President Bola Ahmed Tinubu has informed the nation’s apex court, the Supreme Court that he made the right call be declaring Emergency Rule in Rivers state.

The president made the assertion in an affidavit he submitted to the Supreme court, saying he took the decision to avert the breakdown of law and order in the oil bearing state.

The affidavit was submitted  on behalf of the president by  Taiye Hussain Oloyede, Senior Special Assistant to the President (State House) and one official of the Federal Ministry of Justice.

The president’s made the response to a suit filed some well-meaning indigenes of Rivers state, who took him to court, challenging his decision to suspend all the democratic institutions in the state, including Governor Siminalaye Fubara, his Deputy, and memebsr of the state House of Assembly.

The president’s action, the magazine reported had been trenchantly criticized by not a few Nigerians who said he violated the Constitution.

Tinubu disagreed saying the democratic institutions in the state have broken down by the time he declared the emergency rule, explaining that the appointment of a Sole Administrator for the state prevented violence from erupting.

Notedly, Tinubu stated in the affidavit that his action was supported by the National Assembly as required by the law.

“There is a clear and present danger of an imminent breakdown of public order and public safety in Rivers State,” the President stated in the affidavit.

Adding that, “As at 18 March 2025, when the 1st Defendant issued the Proclamation, the executive and legislative organs of the Rivers State Government were still mired in conflict and there was no indication that the impasse was about to be resolved.

“Indeed, so intractable was the conflict that it paralyzed the organs of government in the state and jeopardized public safety and order.”

On May 20 some well-meaning persons from the state Yirabari Israel Nulong, Nengim Ikpoemugh Royal, and Gracious Eyoh-Sifumbukho, filed the suit at the Supreme Court, seeking to nullify the emergency proclamation by the president.

Joined alongside the president are the Attorney General of the State and Minister of Justice, Lateef Fagbemi, a Senior Avocate of Nigeria, SAN, the state SOLAD, Admiral Ibok-Ete Ibas (rtd.) and Governor Fubara.

Ban Of Sachet Alcoholic Drinks Takes Effect From December 2025 – NAFDAC

By
Akinwale Kasali
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Sachet Alcoholic Drinks

By Akinwale Kasali

The National Agency for Food and Drugs Administration and Control, NAFDAC, has warned that from December 2025, the ban on consumption of Sachet drinks will take effect.

Kenneth Azikwe, Director of the FCT Directorate of the agency, made this known in Abuja. He stated that the temporary lifting of the ban is only valid until December 31, 2025.

Azikwe emphasised that the recent Ministerial lifting of the ban was not permanent and urged the public to disregard misinformation suggesting that the Government has permanently lifted the restriction.

He stressed that the Ministerial lifting on the ban of Sachet Alcohol,  is only temporary and will be reviewed by Dec. 31, 2025.

“After this date, the full enforcement of the ban will commence.

“The Minister granted this temporary relief to allow manufacturers and regulators have time to collaborate and ensure a more structured and effective implementation of the ban,” Azikiwe stated.

He further highlighted NAFDAC’s ongoing efforts to sensitise the public across the country, noting that awareness campaigns had reached every state.

“We have sensitised distributors, and we’ve emphasised that alcohol should not be sold to individuals under the age of 18, which is also clearly indicated on product labels,” he added.

Azikiwe also commended the Distillers and Beverages Association of Nigeria for supporting the awareness drive.

He reassured the public that NAFDAC remained fully committed to regulating alcohol consumption and reiterated that sachet alcohol products containing less than 200 millilitres would be phased out after December 2025.

Murder Of WASSCE Candidate: NANS Tables Demands,  Seeks Justice

By
Akinwale Kasali
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Protest In Ibadan As Stray Bullet Kills WASCE Student

By Akinwale Kasali

The National Association of Nigerian Students, NANS, has commiserated with the family of the Secondary School Student who was shot and killed by a stray bullet from a trigger happy Policeman. The student was on his way to write the ongoing West Africa Secondary School Certificate Examination, WASSCE, in Ibadan, Oyo State Capital when he was accidentally shot and killed.

He was hit by a bullet shot by a Policeman who was, allegedly, in pursuit of an internet fraudster, popular as ‘Yahoo Boy’.

Comrade Samson Ajasa, National Public Relations Officer of the Students’ Body, condemned the killing as “a grave violation of the sanctity of human life”, saying it represents a blatant abuse of power by those entrusted with the duty to protect the citizens”.

Ajasa stated: “On behalf of Nigerian students, we extend our heartfelt condolences to the grieving family.

“We mourn with you and share in your pain during this period of immense sorrow.

“No family should have to endure the agony of losing a loved one under such harrowing circumstances.

“NANS calls for an immediate, thorough and independent investigation into the stray bullet incident and demands that the Police Officer who committed the gruesome murder must be apprehended without delay and prosecuted to the fullest extent of the law.

“We urge His Excellency, the Governor of Oyo State, Seyi Makinde, to act swiftly to address this matter and ensure that justice is not only done, but seen to be done.

“The state government must also take proactive measures to prevent this tragic incident from escalating into broader unrest or tension within the community”.

“The loss of innocent lives due to unchecked brutality by some law enforcement officers has become an alarming trend that must stop immediately.

“NANS remains committed to advocating for Nigerian students’ and citizens’ safety, dignity, and well-being.

“We appeal to all students and members of the public to remain calm and law-abiding as we collectively pursue justice for the deceased and his family.

“Together, we will ensure that this tragedy does not go unanswered, and we will work tirelessly to prevent future occurrences”, NANS spokesman stated.

He also stated that the union demands nothing less but adequate compensation for the bereaved family.

“No amount of compensation can replace the life taken, it remains a crucial step toward acknowledging the family’s pain and holding the responsible parties accountable.

“NANS calls on the Police to take proactive measures in forestalling such re-occurrence, urging it to make sure that the Culprit face the full wrath of the Law.”

Aregbesola Says He, Followers Joining New Party, Debunks Claim He Is With SDP

By
Akinwale Kasali
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Rauf Aregbesola

By Akinwale Kasali

Contrary to speculations,  former Osun State Governor, Rauf Aregbesola, has said that he and his followers have not pitched their tent with the Social Democratic Party, SDP.

The former Minister of Interior who left the ruling All Progressives Congress, APC, following political differences with President Bola Ahmed Tinubu has stated that he has yet to join any Party, but will soon announce the Party he would pledge allegiance to.

Expressing readiness to join a new national party, Aregbesola who was also a former Commissioner of Works in Lagos under the Government of Tinubu, while addressing members of his Omoluabi movement in Ilesa, Osun State, said the  the new party he would  join is ready.

He said: “We are not just registering because we will join a new party from Abuja.

“I, therefore, urge everyone to attend the Coronation of Owa of Ijesaland on Friday to show our strength.

“Our allies are coming. Let’s show our political popularity in the state”, he added.

Having left the APC, Aregbesola has been silent on the state of the nation. He has remained inconsequential in his domain in Alimosho Local Government Area of Lagos State.

His allies lost out  at the APC Lagos Local Government Chairmanship Primaries, making him irrelevant in Alimosho, which had been his political stronghold for decades.

“I Never Offered Obi Vice Presidential Slot”-  Atiku

By
Adesina Soyooye
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Peter Obi and Atiku
Peter Obi and Atiku

By Adesina Soyooye

Former Vice President and Presidential Candidate of the Peoples Democratic Party, PDP, in the 2023 General Elections, has put a lie to the story that he has offered Peter Obi the Vice Presidential slot to run with him (Atiku) Atiku under a Coalition.

The story broke on Monday, went viral, and has been a subject of discussion since then. And even though Obi has denied any such offer, it has not doused the argument for, and against.

But speaking to the Guardian Newspaper,  Paul Ibe, Media Adviser to Atiku, said there was no such thing yet, but admitted that both Leaders are committed to forming and strengthening a strong coalition to sweep the All Progressives Congress, APC, out of office in 2027.

On the alleged offer to Obi to run with him, and his promise to serve a one-year term only, Atiku, through Ibe, dismissed it as too serious for speculation.

He said: “There are certain things you can’t just speculate about – especially, something this historical, you understand?

“Everyone is speculating. Depending on who they are, you know, but a thing like this isn’t something you throw around carelessly.

“What I can officially confirm to you is that they’re working seriously with all the opposition leaders to build a very viable coalition platform.

“Some of the details are still under wraps, not yet public. But the process is ongoing, and change is going to happen sooner than later.

“When the Coalition finally comes together and takes off, you can be sure people will get on board at multiple stations along the way, along the track.”

Recall that Governors in same Atiku’s PDP say they have nothing to do with the coalition Atiku and others are building, but Atiku says much as the Governors are very important and respected stakeholders, “power truly belongs to the people, and the people are powering this coalition process.”

Obi was Atiku’s running mate in 2019 under the banner of the PDP.  They were defeated by then incumbent President Muhammadu Buhari and Vice President Professor Yemi Osinbajo. But in 2023, Atiku and Obi ran for the Presidency under different Parties – PDP and Labour Party respectively. They were defeated by President Bola Tinubu and Vice President Kashim Shettima of the APC.

Fidelity Bank Grows PBT by 167.8% to N105.8 Billion in Q1 2025

By
The Source
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Fidelity Bank Plc

Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year. Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.

Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”

Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.

Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.

“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Fidelity Bank Reclaims Trillion-naira Market Cap As Stock Rises To ₦21

By
The Source
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Fidelity Bank Plc

Leading financial institution, Fidelity Bank Plc, has reentered the trillion-naira market capitalisation club, after its share price rose by 5.3%, climbing from ₦19.95 to ₦21.00 on May 13, 2025, according to data from the Nigerian Exchange Limited (NGX). This latest development also brings the total number of Nigerian companies with a trillion-naira market capitalisation to 19.

According to a report published on Techcabal website, the bank had previously dropped below the threshold on May 12, marking another fluctuation in its valuation. Earlier in the year, Fidelity Bank Plc first reached the trillion-naira milestone on April 4, 2025, joining tier-1 banks such as Zenith Bank, Guaranty Trust Holding Company (GTCO), Access Holdings, First HoldCo, and United Bank for Africa (UBA). However, it fell below the mark on April 7 before reclaiming its position on April 23.

With 50.2 billion outstanding shares, the valuation reflects renewed investor confidence and signals Fidelity’s potential transition to tier-1 status. Analysts believe the bank is well-positioned to meet the Central Bank’s ₦500 billion ($311.9 million) minimum capital requirement through equity.

“The strong Q1 results suggest continued upward momentum in its stock,” said Nabila Mohammed, an analyst at Chapel Hill Denham. “This could boost investor confidence and help sustain its valuation.”

The stock has surged 141% in the past year, up from ₦8.70 in May 2024. Meksley Nwagboh, Head of Brand and Communications, attributed the rally to a 189% rise in 2024 after-tax profit—the highest among Nigeria’s top 10 banks.

That momentum carried into 2025, with Q1 after-tax profit soaring 190% to ₦91 billion ($56.8 million), driven by higher interest income, forex gains, and cost efficiencies.

“Lower credit losses helped boost net interest income,” said Olamide, a Lagos-based banking analyst. “Combined with solid full-year results and dividend expectations, the bank’s fundamentals are attracting investors.”

A report from Proshare noted the NGX Banking Index gained 6.96% in Q1 2025, driven by recapitalisation efforts that injected ₦2.4 trillion into the sector. Fidelity was the NGX’s third most-traded stock between February and May.

According to Mohammed, Fidelity’s high net interest margin and low-cost deposit base enhance its appeal. On February 8, it completed the first phase of its capital raise with 237% oversubscription. CEO Nneka Onyeali-Ikpe confirmed plans to conclude the next phase before H2 2025.

The bank’s Vision 2025 agenda includes expanding internationally—starting with its 2023 acquisition of Union Bank UK—and securing tier-1 status.

Afrinvest projects continued growth, with gross earnings and pre-tax profit forecasted to rise 46% and 49.4% respectively in 2025, reaching ₦1.5 trillion and ₦415.4 billion. The firm maintains a 12-month target price of ₦21.60 for the stock.

With robust earnings, a solid recapitalisation strategy, and growing investor interest, Fidelity is positioning itself as a strong contender in Nigeria’s top banking tier.

2027: “South-east Planning Summit To Endorse Tinubu” – Umahi

By
Adesina Soyooye
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Dave Umahi
Dave Umahi

By Adesina Soyooye

“Peter Obi must be part of the South-east Summit where we’ll all endorse Tinubu for 2027”

Minister of Works, Dave Umahi, an Engineer, says that the five Governors of the South-east, irrespective of Party affiliations, are working for the re-election of President Bola Tinubu for a second term in 2027.

Umahi, a two-term Governor of Ebonyi State said more than that. He, also, disclosed that the South-east is planning a Summit where all the stakeholders in the Zone will endorse Tinubu for 2027. And, to rub it in, Umahi is inviting Peter Obi, a son of the Zone, who is most likely to contest for the Presidential seat in 2027, to the endorsement Summit for Tinubu.

Umahi said these in an upcoming documentary feature-interview to mark President Tinubu’s second year in office. He invited all those, yet undecided, in the endorsement of Tinubu, including Obi, to go ahead and join anf endorse him.

The reason, according to Umahi, is that under the Tinubu Government, the South-east has the full attention of the President in infrastructure provision. The Zone is no longer marginalized.

Said Umahi: “The Igbo man is enterprising and blessed with God-given wisdom. What Ndi Igbo seek is fairness, Nigeria that treats every Zone equally. That is what President Bola Ahmed Tinubu is doing.

“Before, when I was Governor and Deputy Governor, one of our major concerns in Ebonyi State was the lack of Federal presence. But today, nobody remembers that issue anymore. Under President Tinubu, at least, four Federal projects are ongoing in Ebonyi State.

“Today, the South-east has a Minister for Works for the first time, and we’re seeing real projects – Port Harcourt to Enugu, Enugu to Abakaliki, Enugu to Onitsha, Onitsha to Owerri and the second Niger Bridge. The President has already paid 30 per cent of the cost of that bridge.

“All the Governors of the South-east, regardless of Party affiliation, are working with the President. We’re even planning a  summit to bring together all South-east leaders to endorse the President for the 2027 elections formally. We want our projects to be completed, the country’s unity to be strengthened and proper integration of Ndi Igbo.

“Leadership is not about self – it’s about the people. If someone else is already doing what you would have done for your people, support him. I call on my brother, His Excellency Peter Obi, to join us and work with Mr President.

He must be part of this Summit where we will collectively endorse President Tinubu for the 2027 election. I say it boldly: the South-east is happy with the President.”

Umahi was a two-term Governor of Ebonyi State under the Peoples Democratic Party, PDP, but midway into his second term, he defected to the All Progressives Congress, APC, because, according to him, the PDP was not prepared to Zone the Presidency to the South-east, an office he very much wanted to occupy. He hoped  that the PDP would Zone it to the South-east. The Party, instead, zoned it to the South. He picked the forms, but stood no chance against Tinubu in the Primaries.

However, for working for Tinubu, and publicly against Obi who contested for the Presidency under  the Labour Party, he was rewarded with the office of the Minister for Works.

Fidelity Bank: CBN Debunks Bankruptcy Claims

By
James Orji
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CBN Logo

Top Nigerian lender Fidelity Bank Plc has assure the general public that the commercial bank is “financially strong, profitable and able to meet all its obligations”

The commercial bank debunked recent reports to the effect that it’s facing “bankruptcy” describing such as “unfounded’ claims which must be disregarded by Nigerians and key stakeholders.

The bank made the rebuttal in a statement issued on Tuesday in Lagos, describing the report as malicious because “Fidelity Bank continues to operate as one of Nigeria’s most capitalized financial institutions.”

The statement: “We would like to address recent misleading reports regarding a court judgment involving the defunct FSB International Bank, which have wrongly suggested that Fidelity Bank is facing bankruptcy. These claims are unfounded, and we want to assure our customers, investors, and the public that Fidelity Bank remains financially strong, profitable, and fully capable of meeting all its obligations.

“The issue stems from a legacy transaction from 2002, in which FSB International Bank provided a loan to G. Cappa Plc. The case has undergone extensive legal processes, and we are currently seeking clarification on the judgment to ensure that the financial implications are correctly understood.

“We take these malicious reports seriously and are committed to protecting our bank’s reputation and the interests of our stakeholders. Rest assured, Fidelity Bank continues to operate as one of Nigeria’s most capitalized financial institutions, with no risk of bankruptcy. Our Q1 2025 financial results clearly demonstrate our robust position.

“We remain focused on our core values and are fully dedicated to supporting our customers and communities. Thank you for your continued trust in Fidelity Bank.”

Meanwhile, the Central Bank of Nigeria, CBN, while reacting to the report urged the public to  ‘disregard sensational or unverified claims and rely solely on official channels for information about the financial system.’

Insecurity in Borno: Obi Cries Out, Commends Governor’s Commitment, Courage

By
The Source
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Peter Obi
Mr Peter Obi

The Presidential Candidate of the Labour Party in the 2023 election, Peter Obi, has decried the rising insecurity in Borno state.

Obi said that the security situation in the Marte area of the state is unsettling and calls for emergency action.

The LP standards bearer commended the apparent commitment of the state Governor, Babagana Zulum, who has courageously relocated to the troubled area.

Writing on his X handle, Obi said, “The security situation in Borno state is concerning and very unsettling. What is happening in the Marte area of the state is not just a local emergency; it is a national alarm bell that must not be ignored. Governor Babagana Zulum, by choosing to spend the night in a town under threat, has once again demonstrated what leadership should look like: present, proactive, and people-centred. His courage is not for commendation alone; it is a challenge to those in authority to match words with decisive action.

“We cannot claim to be building a secure and united Nigeria when one of our own, a sitting governor, is left pleading for federal support to prevent an entire local government from falling into the hands of terrorists. Over 300 communities stand exposed, while more than 20,000 of our fellow Nigerians are displaced yet again. These are not just numbers, they are families, children, and communities whose hopes are hanging by a thread.

“Governor Zulum has raised critical concerns: that insurgents are regrouping around Lake Chad and the Mandara Hills; that Marte is on the verge of collapse; and that the window for action is closing. These are facts. And it is not enough to acknowledge them; we must respond with urgency and sincerity.

“We cannot afford to continue this culture of delayed response and distant governance. Our security forces need reinforcements. Our displaced citizens need protection, not promises. And our leaders, particularly at the federal level, must show the will to act swiftly and consistently.

“I have always maintained that Nigeria works best when leadership is driven by compassion, competence, and courage. Governor Zulum has shown all three. The Federal Government must now do the same. If we fail to protect Borno, we fail the idea of Nigeria itself.

“This is not about politics. It is about people. It is about protecting the soul of our nation.

Let us act quickly, decisively, and justly.

A new Nigeria is POssible.

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