Home Blog Page 850

Tragedy: Idumota Automobile Spare Parts Market Gutted By Fire

November 30, 2024

By Akinwale Kasali

The popular Idumota Automobile Market was late Friday night, gutted by fire. Several buildings and shops filled with car spare parts at Idumota, under bridge, in the Ebute-Ero area of Lagos Island, were razed. Billions of Naira were lost.

It was gathered that the fire broke out at about 11.00pm. Thankfully, there is no record of any loss of life before the intervention of rescue team.

Men of the Federal and Lagos State Fire and Rescue Service, Lagos State Emergency Management Agency, LASEMA, and Nigeria Police, among others, were at the scene to put the fire under control.

The Permanent Secretary, LASEMA, and Director, Lagos State Fire Service, Margaret Adeseye, confirmed the incident.

The immediate or remote causes of the fire incident were yet to be ascertained as at the time of writing this report.

According to Oke-Osanyintolu, “On arrival of the LASEMA Response team at the incident scene, it was discovered that multiple buildings used as shops for sales of car spare parts were found engulfed by fire at the aforementioned location.

“Fortunately, no casualties were recorded at the incident scene. No injuries were sustained.

“Properties and goods worth hundreds of millions of naira were destroyed by the inferno. The rescue team worked together to curtail the fire, preventing it from escalating to adjoining buildings.

“The law enforcement agencies present at the incident scene activated crowd measures to ensure all-round safety at the incident scene.”

It was gathered that the move to extinguish the fire is still ongoing, while dampening down exercise has commenced to stamp out the remaining pockets of fire.

The rescue teams were able to salvage valuable properties in the affected shops.

“Blackmail, Intimidation Will Not Upturn The Will Of Edo Electorate” –Gov Okpebholo Fires Chidoka, PDP

Suleiman Anyalewechi

November 30, 2024

By Suleiman Anyalewechi

The Edo State Governor, Senator Monday Okpebholo, on Saturday November 30, 2024, raised alarm over an orchestrated plan by his predecessor, Godwin Obaseki and some forces within the Peoples Democratic Party, PDP, to stampede and arm-twist the Judiciary in the ongoing legal battle over the outcome of the Edo State Gubernatorial polls.

The accusation is coming on the heels of the blank condemnation of the polls and its outcome by the Former Minister of Aviation and erstwhile PDP Chieftain, Osita Chidoka .

On a Channel Television’s programme on Friday November 29, ,the former President Goodluck Jonathan’s Minister, under the auspices of his non Governmental organization, Athena Centre presented a damning report on the Edo Governorship election.

According to him, there are overwhelming evidences suggesting that the Prof Mahmoud Yakubu-led Independent National Electoral Commission, INEC, heavily manipulated the electoral process in favour of the All Progressive Congress, APC.

To this end, Chidoka, who on same Friday, announced his exit from the PDP, as well as a temporary break from active partisan politics, insisted that the election result. cannot stand .

“The evidence of systemic rigging observed in the election is so substantial that we think this election should not be allowed to stand. If this stands, then there will be no elections in 2027”, Chidoka noted.

A statement from Fred Itua ,the Media Aide to the Edo State Governor, however, described Chidoka’s sweeping condemnation of the polls as a rehearsal of the PDP script to blackmail and intimidate the judiciary into up- turning the popular will of the people.

According to him, such barefaced bullying tactics as exhibited by the former Aviation Minister is primarily targeted at circumventing the electoral will of the Edo State people.

The Governor’s media assistant accused the PDP, Chidoka and his Athena Centre of indulging in armchair analysis of events before ,during and after the September 21, 2024?, gubernatorial polls in Edo State .

Itua informed that throughout the election, PDP chieftains and their sponsored observers were holed up at the Government House, never bothered to carry out any field study, only to begin to churn out cooked up figures.

“First, the factional chapter of the Peoples Democratic Party in Edo state, is blind to the glaring reality that the party was spurned by Edo people in the last Governorship election because of their weakness.

“Overlooking its messy and divided house, the party is shopping for non-existent evidence to upturn the popular will of the people at the Tribunal.

“What exactly is the intention and or benefit of orchestrating a media trial as Mr Chidoka has done? It amounts to deliberate ambush.

“Even though the PDP and its hatchet man understand that discussing an issue that is sub- judicial is wrong, they are yet unrelenting in their shambolic plot to supplant facts with concoctions with the hope of arriving at their premeditated end .

“This case is already in Court and Tribunal, and it needs be allowed to run its full course without inhibitions.

“Thankfully, Courts do not pander to concoctions, prevarication, sentiments, red-herrings contradictions and orchestrations, but evidence and facts.

“We are hopeful that the Judiciary will remain firm in the face of this blackmail, intimidation, and orchestrated media attacks.

“The recent attempt by the PDP and her serial defector, Osita Chidoka, to arm-twist logic and employ demagoguery to whip up sentiments all-together, amounts to the last cry of a bull as the butcher’s knife serrates its chord and nothing more”, the Edo Government statement reads in part .

Governor Okpebholo, the statement warns, will neither be intimidated, nor blackmailed into jettisoning his decision to recover every kobo and Edo state asset wrongfully appropriated by officials of the immediate past adminstration.

The statement revealed that the Edo State Government is very aware that the recent decision by the Governor to set up a panel to recover all stolen assets has unsettled the Immediate past adminstration and PDP in the State .

“In the coming days, more revelations about the financial heist, contract scam, abuse of power and destruction of Edo State orchestrated by the Obaseki-led administration will be made known to Edo people” Itua stated.

Kebbi, Indonesia Partnerqship To Boost Nigeria’s Self Sufficiency In Animal Production – Ambassador

Ayodele Oni

November 30, 2024

By Ayodele Oni

The Indonesian and Kebbi State Governments are set for collaboration in the areas of reading facilities, development fund, milk and meat processing unit, and sustainable pasture system.

With this collaboration, Nigeria is expected to achieve 60 and 40 per cent increase in its milk and meat production respectively in the next five years.

The Indonesian Ambassador to Nigeria, Dr Usra Harahap disclosed this during a courtesy visit on Governor Nasir Idris in Birnin Kebbi on Friday.

The ambassador was in Kebbi to further strengthen partnership between Kebbi State and Indonesia Governments following the visit of Governor Idris to Indonesia recently.

The ambassador was accompanied by a team of experts from Indonesia towards a fruitful and successful discussion.

Harahap said his visit to Kebbi was to further consolidate on the bilateral relationship between Indonesia and Nigeria and Kebbi in particular.

“This visit aims boost the earlier collaboration between the Kebbi government and Indonesian government on artificial insemination and embryo transfer.

“This collaboration seeks to establish state-of-the-art reading facilities, development fund, milk and meat processing unit, implement sustainable pasture system and significantly improve milk and meat production by 60 per cent and 40 per cent respectively within five years.”

The ambassador expressed the readiness of his country to assist Nigeria achieve self-sufficiency in animal production and agriculture in general, adding that it would enhance livestock productivity and genetic improvement significantly benefiting the agricultural sector in Kebbi.

He noted that the proposed technical cooperation in artificial insemination and embryo transfer “reflect our self commitment to impacting on agriculture productivity and capacity building.

“Our premier objective is to achieve self-sufficiency in meat and milk production and processing. We are also increasing technical capacity in assisting with reproductive technologies for the benefit of all African sub-region.”

While assuring that both nations stand to gain from the partnership, the ambassador prayed that the collaboration would be taken to the highest level for the benefit of all.

Tracing the relationship between Nigeria and Indonesia to 1965, Harahap said Indonesia was ready to establish a centre in Kebbi under the Federal Ministry of Animal Health and Fishery.

According to him, the artificial insemination centre will play a vital role in fostering technical operation for artificial insemination and embryo transfer in Kebbi.

He said as a public service agency, the centre would focus on the production, marketing, testing and monitoring of livestock, covering semen quality, while strengthening artificial insemination method.

The ambassador assured that Indonosia had been practicing the method successfully for over 28 years, praying that the partnership would not only enhance the genetic quality of livestock in Kebbi, but would also serve as a catalyst for sustainable agricultural growth and economic development of the collaborating nations.

Responding, Governor Idris appreciated the ambassador for the visit, as well as the magnanimity of Indonosian government to sponsor two Kebbi veterinary doctors to Indonesia for a training on artificial insemination.

The governor, who was represented by his Deputy, Alhaji Umar Abubakar-Tafida, said: “We are glad, you sponsored their trip and training in Indonesia.

“We are also pleased that the team of experts that trained them followed up to see how those trained are able to cascade the training. We appreciate you very well for this very quick trip.”

Idris also appreciated the ambassador for leading the Kebbi State delegate to embryo transfer centre during their visit to Indonesia, saying that such visit had broaden their knowledge and experiences in the sector.

He said the cooperation marked the beginning of a very fruitful partnership in view of the fact that Kebbi has the highest number of veterinary doctors in Nigeria with one of the largest veterinary in the country.

The governor noted with satisfaction that Kebbi was blessed with highest livestock population in Nigeria, “we therefore wish to extend our gratitude to government of Indonesia for guiding our people.

“We also want to remind you of your pledge to sponsor more of our veterinary doctors for training on embryo transfer this year.

“It may interest you to know that Kebbi is the highest producer of rice and wheat in the country.”

Alleged Diversion Of Palliatives: Kano Anti-Corruption Agency Halts Investigation

Suleiman Anyalewechi

November 29, 2024

Kano Anti Corruption Agency Bursts Warehouse Hoarding Palliatives

By Suleiman Anyalewechi

After a public show, the Kano State Anti-Corruption and Public Complaints Commission, has announced its withdrawal from the case of alleged diversion of a large chunk of palliatives by some persons in the State.

The Source reports that earlier in the week, the Commission had gleefully informed that it had launched an inquest into the actual circumstances surrounding an alleged diversion of over 16,000 bags of Federal Government branded rice and other items to a private warehouse in the commercial hub of the North.

The Agency said it arrested some persons re-bagging the items meant for the people of the state to be resold at the open markets .

The rice and other items being re-bagged all bear the image of President Bola Ahmed Tinubu, thus strongly suggesting that they may have formed part of several palliatives advanced to Kano people by the Federal Government, the Commission stated

But at a Media briefing on Friday, November 29, 2024 in Kano, Muhyi Magaji Rimigado the Commission’s Chairman, said the items after all belonged to some philanthropists.

According to him, contrary to its initial suspicion suggesting that the items may have been diverted from the Federal Government palliatives for the State ,it has been able to establish that they actually belonged to individuals.

He, subsequently, announced the official withdrawal of the Commission from the investigation processes earlier commenced.

He further noted that the anti-graft agency has to back out ,since the suspected owner of the items -the Federal Government of Nigeria has failed to lay claims.

“The Commission has determined that the rice is owned by an individual . Since the Federal Government has not laid any claim to the consignment ,we are left with no choice ,but to withdraw from the case.

“It is true that the re-bagging was done using sacks with the President’s picture, and the words: “not for sale”, but as an anti-graft agency, we cannot proceed further now that an individual has provided proof of ownership and no official complaint has come from the Federal Government ” Rimigado emphasized.

The Commission’s Chairman noted that although its mandate is to, among other things, ensure transparency and accountability in the governance space, it will not over shoot its legal limit.

“Our duty is to investigate and prosecute cases within our jurisdiction. But without any Federal Government claims over the rice, we are legally restrained from pursuing the matter further” he stated.

But the sudden back tracking of the Commission though anchored on some legal reasons appear to be clearly against the grain of pervading public opinion.

Not a few had been eagerly waiting for the outcome of the inquest in the face of alleged spate of diversion of palliatives that have been rocking the State since early this year .

Both the opposition All Progressive Congress, APC, and the ruling New Nigeria Peoples Party NNPP have, at different times, raised concerns about diversions of palliative materials by some highly placed Party and Kano state Government officials.

Not a few believe that the all barking, but not biting anti-corruption Commission may have been stampeded out of the investigation to, once again, shield some perceived entrenched interests that may have cut across party lines.

Court Frees 50 IPOB Members

Suleiman Anyalewechi

November 29, 2024

By Suleiman Anyalewechi

About 50 suspected Indigenous Peoples of Biafra, IPOB, members were, on Friday, November 29, 2024, let off the hook by a Federal High Court, Abuja.

The Suspects comprising young and the old, men and women were rounded up in Anambra State, and have been in detention in Abuja since December 1, 2023.

A statement from the lead counsel to the IPOB, Ifeanyi Ejiofor ,said the discharge of the suspects, one year after their incarceration calls for celebration by the people.

Ejiofor noted that all 50 persons were arrested by security agencies in Anambra State while on their way to a burial ceremony on December 1, 2023.

Since then, he stated, they have been in detention in Abuja ,where they were all bundled to and subsequently slammed with terrorism charges.

The IPOB Counsel informed that the court discharged and acquitted the accused ,while delivering judgment in a no-case-submission which they filed.

“The Federal High Court of Nigeria sitting in Abuja has just discharged and acquitted 50 Biafrans, including young and old men and women who had been illegally held since December 1, 2023.

“This calls not only for celebration, but for victory dance . Recall that these innocent citizens were illegally arrested by overzealous Nigerian Security agents in Anambra State on December 1, 2023 while on their way to participating in a burial ceremony.

“They were then bundled, transported to Abuja and charged with frivolous and unfounded allegations of engaging in terrorism activities and meetings in charge No FHC/ABJ/CR/8/2024” Ejiofor noted .

According to him, the matter which was diligently prosecuted by the authorities,with four witnesses presented,was dismissed.

The IPOB legal representative described the ruling delivered by Justice J K Omotosho as incisive, profound and erudite.

“The Court comprehensively,upheld their ( accused) no–case submission and consequently discharged and acquitted these innocent Biafrans on all three counts.

“We will continue to legally intervene to secure the freedom of all innocent Biafrans and oppressed who are being held illegally in various detention facilities across the country.

“We urge all our people to remain law-abiding, as they always have, and to reject any teachings that promote violence as such ideologies will never prosper in the pursuit of freedom” the IPOB Counsel stated.

Demand For Release Of Investigative Journalist, Fisayo Soyombo Intensifies; Amnesty, Others Join

Tosin Olatokunbo

November 29, 2024

Outrage over the arrest of investigative journalist Fisayo Soyombo by the Nigerian Army has intensified.

His arrest has been confirmed by the Army authorities in a statement issued on Friday by Lt.col Danjuma Jonah Acting Deputy Director 6 Division Army Public Relations.

The Army spokesman said the journalist was arrested during an operation by soldiers to arrest oil thieves in the oil rich state state.

Barely few hours after he was arrested in Port Harcourt, Rivers state by officers of the Nigerian Army, local and international rights bodies have demanded his immediate release.

Analysts insist that Soyombo’s arrest has further highlighted the crack down on the media by the Tinubu’s administration, citing his investigative reports that have exposed corruption in key government agencies.

Reacting to his arrest Media Rights Agenda, MRA, said Fisayo’s arrest illegal and violates his fundamental human rights, it called on President Bola Ahmed Tinubu to immediately put an end to media repression by his government.

The group, in a statement issued by its Communications Officer, Idowu Adewale, MRA’s Programme Officer, John Gbadamosi, said, the Army lacked powers to arrest him.

The statement: “The Nigerian Army lacks the authority to arrest or detain civilians.

“In any event, it is a clear requirement under the Constitution that anyone who is deprived of his personal liberty upon reasonable suspicion of his having committed a criminal offence, must be charged to court within 24 hours.

“Both of these fundamental legal guarantees have been violated in the arrest and detention of Mr. Soyombo by the Nigerian Army.”

The global righst body, Amnesty International, AI, accused the Army of trying to compromise Soyombo’s investigative work, adding that the administration of Tinubu has proved that it has no respect for the media, considering the number of journalist that have been arrested since it came to office last year.

It described his arrest as draconian and utter disregard for the rule of law.

AI said, “Fisayo has been in military detention and out of reach since 26 Nov. — in utter disregard for the rule of law. This draconian trend is sending the wrong signal and can force journalists to live in perpetual fear for daring to investigate and report on issues of public interest.

“Since President Bola Tinubu took office, at least 11 journalists and bloggers have been targeted for just doing their job. This is unacceptable. The Nigerian authorities must immediately put an end to this hostility towards human rights.”

According to a statement issued by the Army today, Soyombo was arrested during a raid on a “notorious gang of oil thieves noted for bursting pipelines and illegal connections for oil theft in the region.”

Part of the statement read: “Only recently, intelligence revealed the existence of a notorious gang of oil thieves noted for bursting pipelines and illegal connections for oil theft in the region,” said the statement by Acting Deputy Director, 6 Division Army Public RelationsDanjuma John Danjuma, a lieutenant colonel.

“In a deliberate operation conducted, troops trailled the criminals to an illegal oil bunkering site. In a subsequent operation carried out, troops swooped on the site, where arrests were made, including one Fisayo Soyombo who was also arrested at the scene.”

The magazine reports that the Nigerian military has been accused of being part of crude oil theft in the nation’s oil rich Niger Delta. They have denied the allegation.

Why Court Of Appeal Freed Olufemi, Sentenced To Life Imprisonment For Rap€

Akinwale Kasali

November 29, 2024

By Akinwale Kasali

Dr. Olufemi Olaleye, Medical Director of Optimal Cancer Care Foundation, who was sentenced to life imprisonment for the alleged defilement of a minor has been set free by the Court of Appeal sitting in Lagos.

The Appeal Court set aside the Dr Olaleye’s life for an alleged inappropriate conduct involving his wife’s niece whi lived in the same house with them.

In a unanimous decision the panel of justices held that the trial court erred in convicting Olaleye based on “tainted” and ‘unreliable’ evidence of his estranged wife, Oluremi and the alleged victim (names withheld).

The Appellate Court said there were material contradictions in the evidence gathered by the prosecution which shouldn’t have been relied on by the lower Court.

Justice Jimi Bada, reading the lead judgment on behalf of the other two Judges also faulted the other evidence of the Prosecution during trial, which were from a child forensic specialist, a medical doctor from the Mirabel centre and the investigating officer, which were found to be “worthless”

In the words of the appellate Court, the trial Judge, Rahman Oshodi, descended in the arena and interfered in the proceedings to bridge the yawning gaps in the prosecution’s case.

It would be recalled that in October 2023, the special offences and domestic violence Court in Lagos convicted Olaleye on a two-count charge of alleged defilement of a minor.

Kate Henshaw, Nollywood Actress protested against Olaleye, calling for Justice to take its cause, alongside other notable Nollywood Actresses.

Rahman Oshodi, the Judge, had sentenced Olaleye to life imprisonment.

Delivering the judgment on Friday, the Court of Appeal also queried the prosecution’s failure to present material witnesses such as two family members who witnessed the appellants alleged confession.

The Court added that a trial within trial ought to have been conducted during trial to verify the voluntariness of the appellant’s confessional statements while in police custody, which he said he made under duress after he had been detained for six days.

The Court of Appeal determined all five issues of appeal against the prosecution and in favour of the appellant.

President Tinubu Congratulates Okonjo-Iweala On Reappointment As DG WTO

Akinwale Kasali

November 29, 2024

By Akinwale Kasali

A proud Nigeria’s President, Bola Tinubu, has congratulated Dr Ngozi Okonjo-Iweala on her reappointment as the Director General of the World Trade Organization, WTO.

Okonjo-Iweala made history as the first woman and first African to head the WTO.

She was reappointed on Friday for a second term, in the shadow of the return of Donald Trump to the White House as the President of the United States of America and his disdain for international trade rules.

The organisation’s 166 members “today agreed to give incumbent Ngozi Okonjo-Iweala a second term as Director-General,” the WTO said in a statement.

Her reappointment was approved by consensus during a special meeting of the organisation’s General Council, held behind closed doors, the WTO said.

Her current term ends in August 2025, and the appointment process for the next mandate had initially been scheduled to take months.

Congratulating and celebrating her reappointment, President Tinubu showered encomium on the former Coordinating Minister for the Economy and Minister of Finance, on her unanimous re-election as the Director-General of the WTO.

The Nigerian leader noted with delight that Dr Okonjo-Iweala’s unanimous appointment for a second four-year term demonstrated the trust and confidence the international community placed in her leadership to advance multilateral trade for sustainable global development.

A statement by the Presidential spokesman, Bayo Onanuga, stated that President Tinubu is confident that her continued leadership will strengthen the international economic organisation’s role as a critical pillar of inclusive global economic growth and good governance in the next four years.

According to the statement, “As a committed member of the WTO, ECOWAS, and the African Continental Free Trade Area (AfCFTA), Nigeria will continue to support the WTO’s mission to foster a fair, inclusive, and equitable multilateral trading system.

“President Tinubu assures Okonjo-Iweala of Nigeria’s steadfast support as she consolidates her bold reforms, dedication to equitable global trade practices, and tireless efforts to promote international cooperation.”

Zenith Bank Opens Paris Branch, Expands Global Footprints

James Orji

November 29, 2024

Zenith Bank Plc has expanded its global footprints with the opening of Zenith Bank (UK), Paris Branch. The official commissioning, which took place on Wednesday, November 27, 2024 at 21 Rue de la paix, Paris, France was performed by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The opening of Zenith Bank, Paris, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the European region.

Dignitaries at the ceremony include Governor, Kwara State & Chairman, Nigeria Governors’ Forum (NGF), His Excellency, AbdulRahman AbdulRazaq; Governor, Lagos State, His Excellency, Mr. Babajide Sanwo-olu; Governor, Ogun State, His Excellency, Adedapo Abiodun, CON; Governor, Enugu State, His Excellency, Dr. Peter Mbah; Chairman, BUA Group, Abdul Samad Rabiu, GCON; Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite; Chief Executive Officer/Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Aisha Rimi and Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC) Nonye Ayeni, who joined Zenith Bank Executives in celebrating this significant milestone. The event highlighted the bank’s commitment to delivering exceptional financial solutions and fostering economic growth across the globe.

In her welcome address, the Group Managing Director/Chief Executive of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, thanked the Founder & Chairman, Dr. Jim ovia, CFR, for his inspiration and vision in setting up an award-winning and record-breaking brand. She also highlighted the rationale for the bank’s strategic move to Paris. According to her, “The opening of this Paris branch is part of the broad strategy of the Bank to extend its footprints across the major global financial centres and our efforts at following our customers’ businesses. Paris branch opening underpins the need to serve our customers and bolster trade and finance relationship between our customers in France and other countries. Zenith Bank’s expansion into France is a very strategic move as Nigeria accounts for 20% of France’s trade with Sub-saharan Africa according to the Franco-Nigeria Chamber of Commerce and Industry (FNCCI) Having successfully dominated large parts of Anglophone Africa, we will leverage Zenith Bank Paris operations to lead the Francophone market starting from Ivory Coast and Cameroun where we will be establishing subsidiaries very soon. This will facilitate business and trade flows between the African region and France, which is a major business partner to several African countries.”

Speaking at the ceremony, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said, “I feel that one of the dividends of building trust for Nigerian institutions around the world is this event today, the opening of Zenith Bank in Paris. The presence of Zenith here can only but help to engender trust of the French business community. They can learn about the opportunities in Africa, and of course, the entry into Nigeria can be facilitatedWe are happy and we are glad that we are all here to participate in this historic occasion.”
President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, congratulated the bank for the milestone achievement. Expressing his optimism for this strategic initiative, he said, “I really want to congratulate Zenith Bank for achieving this feat by opening a branch here in Paris. I can guarantee you, without the likes of Zenith Bank and other Nigerian banks, we as a group, wouldn’t have been where we are today because there is no country that can grow without a very strong banking sector.”

Director General of the Treasury, France, Bertrand Dumont, commented, “This is a crucial asset when it comes to doing business between our two countries, or when it comes to doing business between our two continents. So, I would like to wish you the best in this endeavor, in this creation, and I hope that in the coming months or the coming year, you will invite me again for the integration of larger buildings as a sign of the success that you would have encountered.”

The Chairman, France-Nigeria Business Council (FNBC), Mr. Aigboje Aig-Imoukhuede, CFR, during his remark said, “15 years ago, Dr. Jim Ovia, then as the CEO of Zenith Bank welcomed me as CEO Access Bank into the UK to join him and other banks that had blazed the trail in opening banking businesses in the UK. 15 years later, to the glory of God, your young brother in banking welcomes you to Paris with pride on the significance of this occasion. Such intentional leadership, such partnership and collaboration speaks to the nature of endeavor that we at the France-Nigeria Business Council are trying to drive. So, on behalf of the French people, I simply say to Zenith – Bonne Arrivee!”

The opening of Zenith Bank, Paris followed the granting of the final approval by France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024, allowing the branch to commence operations. Earlier in November 2023, Zenith Bank strengthened ties with France by signing a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary in France. The MoU was signed in Lagos by the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, and the French Minister for Trade, Attractiveness and French Nationals Abroad, Mr. Olivier Becht during the French envoy’s visit to Nigeria.

Zenith Bank, Paris is positioned as a global financial hub for strengthening trade, accelerating trade flows and facilitating connectivity between Europe and Africa. The branch will provide a wide range of services currently being offered by the UK home-office including corporate banking, trade finance and treasury services to individuals and corporate clients in France and the wider European market. The branch will also leverage the bank’s strong global network and expertise to provide tailored solutions to its clients.

UBA To Commence Full Banking Operations In France

James Orji

November 29, 2024

As part of President Bola Ahmed Tinubu’s state visit to France, the Chairman of UBA Group, in the presence of President Tinubu and the President of France, Emmanuel Macron, signed a landmark business cooperation agreement with the French Finance Minister, Antoine Armand. The agreement is a significant indication of support by the French Government for the development of UBA’s full banking operations in France.

Speaking at the signing ceremony, Tony Elumelu, the Chairman of UBA Group commented: ”This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole; and French and European customers transacting with Africa. Expanding into France is a natural progression, with Paris serving as our European Union hub, as we continue to bring Africa and the world together, through innovative financial solutions. Paris will join London, New York and Dubai, as a critical component of our unique global network.”

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

1...849850851...2,959 Page 850 of 2,959