₦airaland Forum

Top Nigerian lenders and two firms namely Fidelity Bank Plc, Stanbic-IBTC, Keystone Bank Limited, ALM Consulting Limited and Stanbic-IBTC Trustees Limited have taken over control of Benin, Kano and Kaduna electricity distribution companies over their inability to repay multi-billion naira loans obtained to pay for assets acquired in 2013 privatisation exercise.

While Benin DisCo is owned by Mr. Victor Osibodu and his wife, Funke, a former managing director of Ecobank, Kano DisCo – Alhaji Tajudeen Aminu Dantata, Kaduna DisCo is owned by former Nigerian Communications Commission (NCC) commissioner, Alhaji Yusuf Hamisu Abubakar.

The banks have written to the Bureau of Public Enterprise (BPE), which oversees the government’s 40 percent stake in the DisCos that it has replaced the board members of the affected DISCOs.

The new board members for Kano DISCO are Hasan Tukur (Chairman), Nelson Ahaneku (Member), Rabiu Suleiman (Member)

For Benin DisCo, the board members are KC Akuma (Chairman), Adeola Ijose (Member), Charles Onwera (Member)

While for Kaduna DISCO, the new appointments are: Abbas Jega (Chairman), Ameenu Abubakar (Member), Marlene Ngoyi (Member)

BPE has also nominated Bashir Gwandu (Kano), Yomi Adeyemi (Benin), and Umar Abdullahi (Kaduna) as independent Directors to represent Government’s 40 percent interest in the three DISCOs respectively, during this transition.

BusinessDay reported on Tuesday that the Central Bank of Nigeria is no longer willing to continue to allow Nigerian banks to carry their huge non-performing loans associated with the funding of the privatisation of the power sector without having to provide for them.

The apex bank, which has supported the beleaguered electricity sector with both cash injection as well as forbearance, is now contemplating a change in the rules in light of the poor performance of at least five of the distribution companies (DisCos).

...as Mohammed commends port users over compliance

The Nigeria Customs Service, Port Harcourt Area ll Command Onne Port said it has collected a total of N115,264,159,921.12 from January to June 2022.

The 2022 half year revenue generation shows a remarkable difference from the 2021 half year collection of N78 billion whereas at the same period in 2020 N46.6 billion was collected.

In a release made available to newsmen by the Public Relations Officer of the Command Superintendent of Customs, Ifeoma Ojekwu, stated that further comparison indicates 147 per cent increase above the 2020 collection and 47 per cent increase above 2021 figure showing differences of N37,097,079,630.91 and N68,597,503,002.82 for 2021 and 2020 respectively.

Under Comptroller Auwal Mohammed, the Customs Area Controller (CAC), the Command's revenue collection showed upward progression on monthly basis resulting in the cumulative differences recorded for the three years put side by side.

In the first half of 2022, the Command made 28 seizures comprising of 9 containers valued at N531,386,166.78 (Duty Paid Value). This half year's number of seizures is higher than 20 made between January and June 2021.

Amongst the seized items were machetes brought into the country without end user certificate, military wears, vegetable oil, whisky, soap and used clothing. Other seizures recorded include used tyres, foreign parboiled rice, tomato paste, used vehicle parts and other items either classified as prohibited or for which duty payment were being evaded.

On export, a total of 876,775.60Metric Tonnes with $495,384,221.99 free on board (FOB) value translating into N203,969,499,562.18 and Nigeria Export Supervision Scheme (NESS)value of N1, 075,060,914.52 were processed through the command in the period under review.

The above export figures are over a hundred and fifty (150) per cent increase in
value to that of first half 2021. The 2022 export statistics shows an improvement on the 2021 figures which is a fallout of CAC Auwal Mohammed trade facilitation strategies.

Comparatively, as at June 2022, the command had processed 331,356.40 metric tonnes with free on board (FOB) value of $141,422,075.87. The FOB value in naira was N58,229,125,518.73 with NESS value of N260,150,300.13

The CAC has brought to the knowledge of port users that there is a Domestic Export Warehouse (DEW) approved by federal government at Onne, according to him the DEW provides further opportunities for exporters to process and package their exports while enjoying seamlessness of export cargo warehouse in Onne directly to vessels.

He said due diligence by regulatory and government agencies functions, including Customs examination shall be conducted in the DEW facility.

Comptroller Mohammed described the DEW facility as a one stop shop emplaced by the Federal Government to promote and encourage export trade which the command has aligned with ahead of it's full take off.

Comptroller Auwal Mohammed in his remarks last Friday said "This revenue seizure and export figures coming at the end of first half of the year attests to a good outcome fromour efforts.

"While thanking my officers and men for sticking to the vision of the Comptroller General of Customs, Col. Hameed Ibrahim Ali (rtd.) and implementing the service mandate without compromise, I want to thank our compliant traders.

"Like I have always said in our parades with officers and meetings with stakeholders, there are numerous advantages attached to being compliant.

"It saves time, raises profit of traders by helping to prevent payment of demand notices and penalty payments by persons trying to cut corners and raises the integrity level of the port user in our profiling system for fast track plus other benefits.

"Compliant traders are our partners in progress. Indeed, we as a service in this Command will continue to lawfully support them .

"It is also expedient to appreciate other agencies of government for their cooperation, intelligence sharing."

Encomiums poured in as eminent personalities from all walks of life converged in Ijebu Ode, Ogun State to bid farewell to Pa. Zacheus Olorunsola Odusanya, a.k.a Baba Kekere, the father of Mr. Adeyemi Odusanya, quintessential banker and executive director, South & Corporate of Keystone Bank Limited.

Pa Odusanya journeyed to the great beyond on Thursday, April 28, 2022 at the ripe age of 93.

For two consecutive days, on Thursday June 30, 2022 and Friday, July 1, 2022, the ancient town of Ijebu Ode in Ijebu Ode Local Government Area, the second largest LGA in the state, was at its boisterous best, as the nonagenarian was laid to rest.

The event had in attendance the high and mighty in all the strata of the nation’s economy – banking sector, academia, administrative, political and business communities, including captains of industry, friends and associates of Mr. Adeyemi, who came in large numbers to celebrate with him and his family.

At the burial ceremony, many described Pa Odusanya, as a compassionate and an epitome of love and discipline while others noted that his humility and selfless service to God and humanity were second to none.

Baba Kekere was born on the 29th of November 1928, to the family of Pa Gabriel Odusanya Onamade Magbamade and Madam Aina Odusanya. He was the sixth child of his father who at the time, was the first Chief Baale of Erigo town in Ijebu Ode and was fondly called “Baba Baale”!

The late humanitarian started his education at the Epiphany Primary School, Erimiron via Ijebu Ode and completed the standard six education programme in 1948. Baba always had an affinity for the crafts and this in addition to the need for sustainable livelihood, facilitated his sojourn to Lagos after his primary school education to learn carpentry. In 1958, Baba married his heartthrob, Madam Cecilia Folake Odusanya and the union was blessed with five children, namely: Mrs. Olufunmilayo Odusanya (Late), Mr. Adekunle Babatunde Odusanya (a.k.a Kekere), Mr. Olufemi Odusanya, Mr. Adeyemi Oluwasesan Odusanya (Fiddo) and Mr. Abayomi Ayodele Odusanya (Anana).

In Lagos, Baba Kekere established a furniture factory at Abule-Nla, Apapa Road, Ebute Metta with a big show room at Herbert Macaulay. The craft of furniture/carpentry that he so much cherished took him to so many cities within and outside Lagos, delivering beautiful furniture arts in people’s homes.

Mr. Adeyemi, in his tribute, extolled the virtues of his late father who he described as his mentor and a selfless man.

“As his son, I feel sad, as a Christian, I feel glad for I know he is now resting in the bosom of our maker. As a man, I feel the void his absence creates in the life of my mother for they are inseparable!!

“I learned a lot from him. My father was high on values and always respected everyone both old and young. He knew the importance of valuing people. He was a compassionate man and taught me the age-old lessons around giving. He always believed that in giving selflessly, one receives benefits far superior than worldly riches. This by the way is how I know Baba is now in heaven.

“He was a man of humility. This was one of his noticeable virtues, perhaps, because of his humble beginnings or maybe it was innate and a God-given gift. Regardless, it is one I have grown to emulate and continue to enjoy its benefits in my personal and work life.

“There was a certain confidence in his stride or the way Baba coordinated himself that exuded very admirable confidence, one I have also sought to emulate over the years.

“Baba always said, ‘In time, all good things come to those that wait;’ of course this often was difficult to agree with in my youthful or younger days but as I mature more, I see the value in this outlook to life. Strive less and yield more to God’s guidance and control,” the banker with over two decades of experience in commercial banking, strategy, and operations concluded.

Union Bank’s Acquisition: Titan Trust Bank aims for market dominance, targets tier 1


With the recent acquisition of Union Bank of Nigeria (UBN) Plc by Titan Trust Bank Limited (TTB), a deal that took stakeholders by surprise last year, the latter is now positioned to maintain its lead as a technology-driven tier-1 bank, OLUWAFEMI ADEOYE writes.

When Titan Trust Bank Limited (TTB), one of the three newest entrants into the Nigerian banking industry, began operations in October 2019, many people gave it just a passing glance, but after a few years, the achievements of the lender have taken industry watchers by surprise.

Established on the 12th of December 2018 with a solid post-capitalization financial base in real cash, the bank has proven that it is ready to compete with long-standing and well-rooted Nigerian banks.

In pursuit of an expansionary course with the objective of building a stronger brand capable of taking on a larger market share of a continent striving for financial inclusion, the lender which is on a mission to take advantage of the identified gaps in the banking sector and address the unmet needs of the retail mass market, SMEs and corporates, again took the industry by surprise after it announced its acquisition of 89.4% interest in 104-Year-Old Union Bank, but later upped the stake to 93.4%, in barely four years of its existence.

Its expansionary drive could not have come at a better time with Tier-1 banks moving to HoldCo structures, FinTech standing as the next big thing, and the African economy desperately in need of strengthened financial systems.

The deal, regarded as one of the largest acquisition deals in the history of Nigeria’s banking industry, with an off-market deal worth N191 billion, was however formalized recently with Tropical General Investments Limited (TGI Group), the parent company of TTB, becoming majority shareholder and core investor in Union Bank.

The acquisition stands as the biggest in recent years, dwarfing the N120 billion Crown Mills paid to acquire Dangote Flour Mills and the N91 billion NIPCO paid for a majority share in Mobil Nigeria, capital market analysts noted. Also, this is the biggest deal in the banking space since the N72 billion merger between Access Bank and Diamond Bank Plc.

This is, however, not the first time that a smaller bank will acquire a bigger one in Nigeria, it is however the first time that an unlisted bank, which is barely four years old, will be acquiring a listed, century-old bank.

It is worthy to note that TGI Group, having been in Nigeria for over 3 decades with an established track record of successfully establishing and profitably running all their subsidiaries, is the perfect investor for Union Bank as they are evidently here for the long run rather than short term investors. This will obviously provide Union Bank a lot of stability and the established expertise of TGI and the team that they have put together to make Union Bank a bank of first choice for Nigerians in the very near future. Business analysts have, however, described the deal as a-win-win for Nigerians and the Nigerian economy.

The completion of the Titan-Union deal has also seen the exit of the former board and management team of Union Bank and the emergence of Mr. Farouk Mohammed Gumel and Mr. Mudassir Amray as its board chairman and new Chief Executive Officer (CEO) respectively, effective June 2, 2022. Other board appointments under the new ownership of the bank include Mr. Andrew Ojei, Alhaji Abubakar Mohammed, and Mr. Lawrence Mackombo – all Non-Executive Directors.

But unknown to many, since the inception of TTB in October 2019, the bank has been on an upward trajectory and has further positioned itself as a challenger bank. At the start of its operations, the management team led by Mr. Mudassir Amray, the current chief executive of Union Bank, and Mrs. Adaeze Udensi, Ph.D. (current acting managing director of TTB), drew up a holistic and integrated approach to business modernization, which has formed the foundation for the bank’s superior customer-centric experience. The impact of this strategic decision led to a positive impact in the Bank’s performance within its first three months of operations where the bank recorded a profit after tax (PAT) of over N600 million.

In its determination to take financial services to every household in order to drive effective inclusion and participation in the recovery and growth of Nigeria’s economy, TTB invested substantially in technology and developed fully integrated service models that enable its customers to enjoy banking services through a wide range of channels. The bank believes in innovation, creativity, and the use of technology to enhance the lives of its customers while it also strives to ensure that its products and services are meeting the changing needs of its customers.

Recently, TTB launched and deployed the latest version of Oracle’s FCCM module, powering our AML/CFT infrastructure, used in over 120+ sites by top global banks. It has also invested in top-notch infrastructure for AML/KYC, as well as the Oracle Financial Services Analytical Application (OFSAA) to ensure rigorous analysis and measurement of its risk-performance objectives.

In less than three years of operation, TTB has grown to earn the confidence of the banking public, offering quality banking services with cutting-edge technology that enables its customers to enjoy banking services through a wide range of channels.

Therefore, with its recent acquisition of Union Bank, one of Nigeria’s long-standing and most respected financial institutions with a network of over 293 sales and service centres and over 937 ATMs spread across Nigeria, analysts believe the deal may trigger a fresh competition among money deposit banks in the country.

The lender has exhibited a grand ambition to mature to a Tier-1 bank in the next five years and is banking on its vast digital banking, strength to disrupt a space where the big five banks commonly known by their initials as FUGAZ hold sway.

The acquisition eases the path for TTB to become Nigeria’s sixth biggest lender, with Union Bank’s assets climbing in valuation to N2.6 trillion at the end of 2021 and Titan’s standing at N246 billion as at December 2021.

According to Mr. Tunde Lemo, chairman of Titan Trust Bank, with the combination of TTB, a tier-3 bank, and UBN, a tier-2 bank, “we are going to see the emergence of a tier-1 bank.”

“Union Bank is one of the largest in terms of network. But we think that after 104 years of operation, it can be rejuvenated by a bank like Titan Trust Bank that has cutting-edge modern banking skills.

“We believe that by combining fintech strength with the brand value of UBN, we can make an impression in Nigeria by deploying modern banking to every nook and cranny of the country.

“The deal represents a unique opportunity to combine Union Bank’s longstanding and leading banking franchise with TTB’s innovation-led model, which promises to enhance the product and service offering for our combined valued customers.

“So, there will be a significant synergy between the two institutions,” he said.

With the new development, the bank is poised for market dominance in the financial services industry, especially in the retail segment.

https://themomentng.com/2022/06/27/union-banks-acquisition-titan-trust-bank-aims-for-market-dominance-targets-tier-1/

The Economic and Financial Crimes Commission (EFCC) is currently investigating Mr. Lanre Sanusi, the All Progressives Congress (APC) House of Representatives candidate in the Amuwo Odofin Federal Constituency, Lagos, over alleged fraud.

This newspaper gathered that Sanusi was arrested following a petition against him by a logistics company, 4runner Limited.

He was also said to have allegedly diverted COVID-19 materials, hand sanitisers and face masks worth millions of dollars from Dallas City Government Hospital in the United States with the aid of two of his friends who were truck drivers and in charge of the materials.

This medium learnt that Sanusi in 2019 was disqualified from being a commissioner by the Lagos State House of Assembly for presenting a fake academic certificate allegedly issued by a university in the United States.

A petition to the anti-graft agency by 4runner Limited had read, “Lanre Sanusi engaged 4runner Limited through Mr. Femi Dada to source for Four(4) shipping containers of 40 feet to load Covid-19 materials such as face masks, an hand sanitisers, to ship it from the United States of America to Nigeria. To also, among other things, provide drivers, haulage companies with such containers specifications. To load the material from its location in Dallas down to the port where it will be finally shipped to Nigeria and Lanre on the other hand would take charge of the clearing and administrating the offloading in Nigeria.

“All this discussion and service agreement was made electronically through WhatsApp chats and calls (copy of the print out of the WhatsApp chats between Mr, Lanre Sanusi and Femi Dada is herby attached as Appendix A). While all this process was ongoing, the bill of charge accrued to $33,000.00 (Thirty Thousand American Dollars) as agreed sum that Mr. Lanre Sanusi would pay 4runner Limited through Mr Femi Dada. The breakdown of which was agreed to by both parties is on WhatsApp chat. All appeared to be well, containers were at the loading location, drivers too were available. We started loading the materials with Mr. Lanre Sanusi also assisting as every step being taken were carried out in his presence.

“He was physically involved all along till after two containers were fully loaded and moved to the port. Things begin to heat up when after the loaded container left United States of America for Lagos- Nigeria and Lanre was nowhere to be found. We made frantic efforts to reach him through all means available but it was to no avail. For days, our calls were not returned, chats sent to him were read and not replied. We became impatient and frustrated as the company’s reputation was being dragged in the mud. Our capital was also tied down as we have expended fund in this project, only for Lanre to abandon the project and disappeared into thin air after we had rendered the service, he engaged us for.

“Monetary commitment paid to us was even by his friend, Adebayo Godson ($1700.00 USD). At a time, we went confrontational with him but yielded no positive outcome. Subsequently, a request for payment was sent to Mr. Lanre Sanusi as well as invoice to properly demand for payment of the service rendered. (The copy of both herein attached as AppendixC). All this was done to ensure we recoup the capital and to know if he wished to continue with the project or otherwise.

“Consequently, Mr. Lanre Sanusi fraudulent, deceitful activity, unprofessional attitude and misrepresentation of fact on the whole project led to us carry out a background check of him amid investigate reasons why he abandoned the project midway, breached his agreement with us and unfortunately put our reputation and relationship with foreign contacts in jeopardy. Alas, our finding and discovery was very disturbing and alarming. We got to know that Mr. Lanre Sanusi fraudulently misrepresented facts about the project to us which is a criminal offence in Nigeria where our company is situated.

“The Covid-19 materials, hand sanitisers and face masks worth millions of dollars were actually diverted from Dallas City Government Hospital in the United States with the aid of two of his friends who are truck drivers and in charge of the materials.

“It should interest you to know that not only did Lanre abandon the materials shipped and the ones due to be shipped to Nigeria as he was campaigning to be a House of Representatives Member, representing Amuwo Odofin Federal Constituency because his intention was to use it as campaign souvenirs, he intentionally set fire on the other materials; that is, those he has no capacity to ship to Nigeria. (Picture of the burnt materials is hereby attached as Appendix D). Reason for this act was because he got information that Covid-19 protocols in Nigeria has been relaxed and the uses of such materials as election souvenirs will not be much appreciated. This made him to discontinue the project without proper notice and bill of settlement.

“Our initial agreed invoice was $33,000.00 USD (Thirty-Three Thousand American Dollars) but the the huge demurrage and other service charges on the 3rd and 4th containers, coupled with the high exchange rate in Nigeria, the bill of charges is at present $51, 870.00 USD (Fifty-One Thousand, Eight Hundred and Seventy American Dollar).”

Mr. Sanusi did not respond inquiries as at press time.

https://themomentng.com/2022/06/22/efcc-investigates-lanre-sanusi-for-alleged-multi-million-naira-fraud/

In furtherance of the need to empower female business owners across the country, The ELOY Foundation, in partnership with FirstBank presents the ELOY Foundation Business Shower, created to support female entrepreneurs on their journey to building sustainable businesses.

The support from FirstBank will be carried out through the FirstGem loan scheme designed for female-owned or partnered MSMEs and its SMEConnect initiative.

The partnership focuses on key sectors of the economy and designed to have female entrepreneurs exposed to essential business skills like training, networking and the ELOY Foundation Business Toolkit, a compilation of business survival skills nuggets. The business shower will avail businesses a platform to pitch their ideas to win seed grants and join the ELOY Foundation Sustainable Empowerment Programme 2022. Participants will also be able to access the FirstGem single digit loan, where eligible

The ELOY Foundation Business Shower will hold in 5 locations across the country. Kicking off in Lagos on 23 June 2022, the train moves to Port Harcourt on 25 June 2022, then Abuja on 30 June 2022. In July, Kano and Abia will host female business owners on the 2nd and 7th, respectively.

The ELOY Awards Foundation Business Showers will offer an avenue to sustain women empowerment by providing entrepreneurial training and mentorship from experienced businessmen and women, arming participants with tools and information to help them grow their businesses.

According to Tewa Onasanya, Founder of the ELOY Awards Foundation, “it is not just enough to talk about empowering business owners, it is very important to sustain empowerment by providing guidance towards their business progress and giving them access to different resources to help them continue to thrive. MSMEs are the backbone of any nation and there is a great need to sustain this chain of the economy. It is on this common ground that FirstBank has partnered with the ELOY Team to contribute meaningfully in empowering women to achieve fulfilment in their chosen business endeavours.”

Speaking on the partnership, Folake An-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said, “we commend ELOY Foundation for their efforts on this initiative as the continued strengthening and inclusiveness of female driven business endeavours is essential to the growth of the national economy. We are happy to partner with ELOY Foundation on its Business Shower. Together, we will drive the entrepreneurial viability of participants and expose them to business nuggets that will take their business to the next level.

Woven into the fabric of society for over 128 years, FirstBank plays a leading role in supporting women through strategic empowerment, capacity building and mentorship programs for women in MSME, leveraging its FirstGem and SMEConnect propositions to women across diverse sectors of the economy as well as strategic partnerships with women empowerment organisations like ELOY.

Registration is currently ongoing for the ELOY Business Shower via the link below.

https://eloyawards.com/eloy-business-shower-registration/

Female business owners are encouraged to send in their business pitch video and business plan for a spot on the ELOY Foundation Sustainable Empowerment Program and a chance to win a grant for their business.

About ELOY Awards Foundation

The ELOY Awards Foundation was launched with the primary aim to empower women business owners through partnerships for access to grants and affordable finance, entrepreneurial training, mentoring and networking for sustainable empowerment.

The ELOY Awards Foundation is about empowering and challenging thousands of women to be more and do more by providing access to resources and business skills for them to be able to grow, transform and sustain their businesses, which will in turn benefit their families and the community at large.

Our watch word is SUSTAINABLE EMPOWEREMENT. That is why we have developed programs and initiatives that invest in the success and the sustainability of women owned businesses.

Nigeria’s Leading retail financial institution, Access Bank will be rewarding its customers in the South-South and South -East region with millions of naira and other attractive consolation prizes in the DiamondXtra regional  draw.

The LIVE draws which have been scheduled to hold on June 29, 2022, in Owerri, Imo State will feature mouthwatering cash prizes of N1million, Business grant worth N1million, Rent for a year worth N1million, Educational grant of N500,000, and the star prize, Salary4life where a lucky customer will earn N100,000 every month for 20 years.

Speaking to newsmen at the Bank’s head office in Lagos recently, Adaeze Ume, Group Head, Consumer Banking, Access Bank plc, explained that the motivation behind the regional draws in the new season of the reward scheme is the need to transform the lives of  More Nigerians  across the country.

In her words: “To deliver on our promise to continually reward our customers for their loyalty and continued savings with our bank, we have decided to take the DiamondXtra reward scheme draws even closer to them. We intend to reward 38 lucky customers in the South-South, South- East region with juicy cash and consolation prizes in the LIVE draw taking place on the 29th of June 2022 in Owerri, Imo State.

“By executing LIVE draws in the regional hubs across the country we believe this will aid consumer participation, drive credibility of this 14 year old reward scheme and boost our relationship with our dynamic and loyal retail customer base in the various LGAs and regions across the nation.

We continue to evolve and reflect on the various offers within the DiamondXtra reward programme, and engage our customers on what they would prefer to have as a reward. So this year, we introduced a new reward element to commemorate the launch of season 14 (tagged READY FOR MORE); in line with the evolving economic climate that has seen more businesses commence trading and transactions online, we now offer digital skills training to 14,000 lucky customers as one of our prizes. This skill will empower them and enable them boost their businesses and operations as entrepreneurs leveraging the Digital Marketing platforms.  This is our own little way to help build employers of labour instead of employees of labour.

To join the winning train or to stand a chance to win in the forth coming South South, South-East regional draw, simply fund your DiamondXtra account with a minimum of N5,000 or more for an opportunity to win millions and other attractive prizes.

Those who do not have a DiamondXtra account can simply open an account by dialling *901*5# from their phones and fund it with a minimum of N5,000 or more to stand a chance to become a winner,” Ume concluded.

DiamondXtra is an interest yielding hybrid account which allows deposit of both cash and third-party cheques. Hybrid means a combination of both savings and current account features. The DiamondXtra reward scheme was launched in 2008 and has been running till date. Please Click HERE to know more.

A social media celebrity with an Instagram account simply identify as Zamorah Fashion Store #Zamorahstore has been called out by many Nigerians for allegedly using her status and followership to defraud unsuspecting customers.

Zamorahstore page, which boasts of over 400,000 Instagram followers, trades in female wear of different sizes, claiming she delivers nationwide. But she has been accused of hoodwinking customers and not delivering any goods to them after monies have exchanged hands.

According to different accounts by her alleged victims, Zamorahstore is in the habit of not delivering goods after payment has been made and they claimed that since the online microblogging site is the meeting point, the fashion celebrity swiftly blocks her customers from reaching her after payment has been made.

In some of the payment evidence sent to this medium, some customers made payments since April and to date, they are yet to receive the item they paid for. And they can no longer communicate with her.

Already, some of them have concluded plans to petition the Police and the Economic and Financial Crimes Commission (EFCC) over the issue.

Zamorahstore joins the long list of Nigerian Instagram celebrities including Adeherself and Mompha who have been accused of Instagram fraud.

Godwin Emefiele has been rumoured as the alleged owner of controversial Titan Trust Bank TTB which acquired Union Bank recently.

Titan Trust Bank, or TTB, is a relatively new banking brand with only two active offices in Lagos, Nigeria’s metropolis as at the time is acquired Union Bank Plc.

Agreeably, miracles still happen in this ‘wonderful’ part of the world, however, it is also a fact that Titan Trust Bank’s sudden rise to the point of acquiring Union Bank Plc, a massive banking brand with a whopping significantly large asset size of about $4.9 billion (N2.59 trillion) according to its FY 2021 audited financial statements, remains a mystery and an algebra without mathematical solution.

Union Bank disclosed the anticipated transaction in a corporate disclosure filed with the Nigerian Exchange on December 23rd, 2021, after its main investors decided to sell their 93.41 percent holdings.

Titan Trust Bank is barely three years, more so, the bank is just finding its feet in the highly competitive Nigerian banking industry. As such, some people wondered where it could possibly get funds to facilitate the planned acquisition, while others keenly waited to see whether the acquisition could actually come to fruition.

On June 6 2022, the African Export Import Ban (Afreximbank) announced that it had disbursed the sum of $300 million to help complement the total amount needed by Titan Trust Bank to finalise the acquisition of Union Bank. Afreximbank noted that the said fund was disbursed under its Intra-African Investment Financing Facility.

But from all calculations, it appears as if all the companies involved in acquisition have not exactly disclosed how much it had actually cost Titan Trust to acquire Union Bank. As we pointed out earlier, Union Bank had a total asset value of $4.9 billion as of December 2021.

So, even with the $300 million from Afreximbank, a lot more money would have still been needed to facilitate the deal. And it’s most likely that Titan Trust secured funding from other sources besides Afreximbank which it deliberately refused to mention.

The above analysis given among a number of other factors corroborates public opinion that obviously Titan Trust Bank is favoured by an influential individual or persons whose vested interest is covertly hinged to the success of the bank.

The fact that Titan Trust Bank’s National Banking License is the first National Banking License that the Central Bank of Nigeria has granted in the last ten years, since former Central Bank Governor Chukwuma Soludo enacted the N25 billion capitalization funds directive for National banks in Nigeria, is one of such factors that also warrants further investigation.

Who Owns Titan Trust Bank?
The above is a question most netizens including those in the banking industry have been asking since Titan Trust Bank miraculously acquired Union Bank.

However, according to an ongoing investigation, current Central Bank Governor Godwin Emefiele is the owner of Titan Trust Bank and has allegedly put it in the hands of his cronies to run.

Also, there are also strong indications that the CBN Governor who is also allegedly among the highest shareholders in Union Bank Plc may have played major role in the acquisition of the bank’s shares by TTB.

Titan Trust Bank – TTB is reportedly majority-owned by Tropical General Investment (TGI) Group, an investment firm allegedly linked to Godwin Emefiele with interests in a variety of businesses including FMCG, commodities, agriculture, Agric processing, pharmaceuticals, and oil field services, as well as real estate and trading.

According to reports, CHI Limited, the creator of the iconic Chivita products, was one of TGI’s most notable enterprises, which was finally sold to Coca-Cola in 2019.

Titan Trust Bank: Other compelling factors and unanswered questions raised by pundits
Union Bank was stabilized and recapitalized thanks to a N300 billion injection by FGN. This position can be confirmed by the Federal Ministry of Finance and the Central Bank of Nigeria (CBN).

AMCON injected another N239 billion into the bank to purchase out the bank’s bad assets.

How did FGN end up with 21% of the bank and Union Global Partners (a foreign investment entity) with 64% when it only invested N78 billion ($500 million At N155/$) in 2011?

The Bank was eventually sold for a fraction of its original value.
Is the National Aeronautics and Space Administration (NASS) aware of these concerns?

During the deal, Tunde Lemo was the CBN’s vice governor. Is he allowed to be linked with the acquisition of this same intervening Bank as a benefactor under corporate governance provisions?

In 2011, Union Bank was a group of seven firms, but it has since been reduced to only one commercial bank.

Without recourse to the FGN, an entity

Where did all of the subsidiaries and/or other assets go?

Who got what claim and on what conditions/approvals?
Faruk Gumel is the current Chairman of the National Security Agency (NSIA), a government agency, as well as a Group Executive Director with TGI, the majority stakeholder in Titan Bank, the new owners of Union Bank. Is this a transaction that falls under the definition of “arm’s length” as defined by Nigerian corporate governance?

Perhaps the President and Commander in Chief, as well as the NASS leadership, should raise these and other questions. The answers should come from the CBN, AMCON, the Federal Ministry of Finance, and Mr. Emeka Emuwa, the former Managing Director of Union Bank.

Clearly, the fact that Titan Trust Bank, a small bank with only two bank branches in Lagos, can almost effortlessly swallow up Union Bank, a 104-year-old bank, in a transaction valued in the region of about $1 billion dollars or above, defies common sense and suggests a case of “the hand of Esau, but the voice of Jacob.”

Only Two weeks ago, it was announced that Atlas Mara and other core investors in Union have successfully finalised their proposed sale of 93.41% stake.

Following the acquisition, Titan Trust Bank quickly took over the 105-year-old bank, appointed new board members and replaced some top executives. And some people were really interested in knowing how the 3-year old bank pulled it off. Where did it get the money? Many had asked.

According to information available, Emefiele through one of his closest ally, Adaeze Udensi perfected the ground works for the establishment of Titan Trust Bank as well as its acquisition of Union Bank.

“Adaeze is positioned as the face of TTB for a reason. She was there from inception in 2019 and she has been a tool in the hand of Emefiele even right from her days at Zenith bank”, our source said.

We understands that Adaeze Udensi was the only Executive Director of Titan Trust Bank and wielded so much influence; more than the former Managing Director, Mudassir Amray, who stepped aside after the complete acquisition of Union Bank days back.

Adaeze Udensi is the current Acting Managing Director of Titan Trust Bank as of the time of filing this report, and some insiders said that they were not surprised, “after all, that was the grand plan from the start,” the source said.

Emefiele’s camp has continued to deny his participation with Titan Trust, but their evasive denial without adequate explanation is reminiscent of a similar situation that occurred when the CBN Governor’s desire to run for President in 2023 was exposed months back.

Even though all the evidence pointed to our report’s veracity, he continued to dispute the news.

It wasn’t any different this time. When we called him for comment, CBN spokeswoman Osita Nwasinobi, as expected, denied Emefiele’s involvement with TTB and quickly hung up to prevent any further questions.

…to support businesses in Nigeria

African Export Import Bank (Afreximbank) has announced the disbursement of a US$150 million finance facility to First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider.

The funding was provided under Afreximbank’s Pandemic Trade Impact Mitigation Facility (PATIMFA).

Afreximbank’s US$150 million financial support will be accessible to FirstBank customers that are involved in the manufacturing and importation of products and equipment required to combat the COVID-19 pandemic, as well as initiatives to rehabilitate hospitals and strengthen diagnostic and testing capacity.

The loan will also be used for the financing of trade debt payments falling due to avert payment defaults in trade debt obligations. In addition, proceeds of the facility will help beneficiary businesses manage the impacts of the Ukraine crisis.

President and Chairman of the Board of Directors of Afreximbank, Professor Benedict Oramah, commented: “This new disbursement under PATIMFA is a further proof of the relevance of the programme in helping African economies to recover from the crisis induced by the COVID-19 pandemic. Since April 2020, when PATIMFA was launched, we are more than proud to have disbursed more than US$7 billion to help Afreximbank member countries manage the adverse impact of the financial, economic and health shocks caused by the COVID-19 pandemic. Through First Bank, one of our trade finance intermediaries, this $150 million facility will help build the resilience of many businesses to the adverse impacts of the pandemic, while helping them overcome the consequences of the current Ukraine crisis.”

Also expressing his delight in the partnership, FirstBank’s CEO, Dr. Adesola Adeduntan said: “We commend Afreximbank for this impactful financial response. It will immensely contribute to empowering many businesses adversely impacted by the economic shocks caused by Covid-19. The selection of FirstBank as a partner in this initiative is a testament to their confidence in our capacity and proven track record over the years.

As a Bank that has been woven into the fabric of our society for over 128 years, we remain committed to the success of businesses in our host communities and ensuring they are given the needed boost to sustain their operations and further drive economic growth in the nation,” he concluded.

Police Special Fraud Unit (PSFU) Ikoyi, Lagos State, has arrested Ibadan-based businessman, Bukola Odeleye for alleged N816 million fraud.

The SP, Eyitayo Johnson said the suspect is the MD, Spokesperson/CEO of BEEDEL Strategic Investment Company.

Johnson, in a statement disclosed that Odeleye was arrested on May 24, 2022, after weeks of discrete investigation.




He was nabbed for alleged forgery of 11 Local Purchase Orders (LPOs) of five multinational companies and one federal agency.

The police said Odeleye paraded himself on social media as a successful contractor in Civil Engineering/Construction, Real Estate and Supply/Importation of Heavy Engineering Equipment.

The BEEDEL boss allegedly operated in connivance with former and current procurement staff of the companies whose LPOs were used to perpetuate the fraud.

The PSFU said with forged LPOs of companies and the government, he approached banks and investment companies with proposal to finance the LPOs.

“He cleverly tenured to be paid between 30-60 days, to make the LPO financing appear juicy.

“The suspect was able to fraudulently obtain the sum of N816 million from two finance companies,” the police said.

The police noted that he diverted same to fund “extravagant lifestyles which includes building a mansion, office complex and purchase of exotic automobiles.

“He uses money from one bank or financial Institution to settle his commitments to another bank/finance company, to maintain the fraudulent cycle of robbing Peter to pay Paul.”

The PSFU added that Odeleye would be charged to court as soon as investigation was concluded.

It was gathered that the Department of State Services (DSS) first arrested the businessman in March 2022.

Odeleye put up construction adverts across Ibadan, the Oyo State capital, but no major development on the sites yet.

The suspect built his office on Ade-Oyo Hospital Road and mounted boards at the Ososami/Iyana Ade Oyo jucntion which portrays him as a contractor.

"Governor Yahaya Bello of Kogi State is winning the presidential race tonight, he will not step down from the APC presidential primaries because he has the best chance to win the race".

Those were the words of the governor's spokesperson, Mrs Yemi Kolapo, who spoke against the background of the failure of the Southwest aspirants to reach a consensus.

Media reports say, at the end of another round of meeting in the afternoon, the aspirants failed to reach a consensus.

Earlier, the Progressives Governors Forum had recommended five aspirants to the president for his approval.

Governor Bello who was not part of the arrangement has insisted on forging ahead outside that arrangement because he has the youth and the women behind him.

Kolapo, while speaking at the ongoing convention said Bello is in the race to win.

"You can understand his confidence, it is based on his chances. They held another meeting and it was inconclusive and with this development you can see that with the Southwest divided, Governor Bello has a very good chance to emerge as the presidential candidate of the APC. So, he is not stepping down", she said.

Ogun State governor, Dapo Abiodun has declared that the All Progressives Congress (APC) is set to conduct a convention which would be a reference for political parties in the country.

Abiodun who is the Chairman, Accreditation and Decoration Committee of the convention, gave this declaration while speaking with newsmen shortly after he inspected the International Conference Centre, Abuja, venue for accreditation of delegates, said all things have been put in place for the success of the event.

According to him, the Committee made up of deputy governors, members of the National Assembly and eminent party faithful are working round the clock to ensure a hitch-free presidential primary election.

“The National Working Committee of our party constituted committees for this election and we are serving in the accreditation committee for this election, which is the most important for the election. We are charged with the responsibility for ensuring that only those who are validly elected delegates are allowed to go to the Eagles Square to vote.

“We are not working as an island; we are working in cooperation and collaboration with other committees, including the security Committee. The International Conference Centre will be the venue for accrediting the delegates who were elected from various states. We have other centres where we will accredit all non-delegates who will not be voting but will attend the convention.

“I want to say that we are ready for the exercise. All our tags are ready, we began our work ahead of our inauguration because of the importance attached to the assignment. We are ready and we believe that by the time it is over, it will become a reference point for conventions in the history of political parties in this country”. The governor stated.

Abiodun, however, noted that the convention would be different as everyone attending the convention must wear a tag that would have security features such as codes which could be read by a device.

“Everyone going into the Eagle Square will be accredited. This will give us the idea of those that will be delegates and those that are just attending the exercise,” he explained.

The governor expressed satisfaction with level of work done so far at the venue, saying he looked forward to a successful primary election.

Fidelity Bank Plc, one of the Nigeria’s foremost financial institutions, has added yet another accolade to its burgeoning collection of awards.

This time, the Bank has been recognized as the ‘Best SME Bank in Nigeria’ by the Global Finance Banking & Finance Awards 2022.

According to the organizers, Global Banking and Finance review, the bank was presented the award after a comprehensive review and assessment of its intervention and provision of long-term financing support for small businesses across Nigeria.

Dedicating the award to customers and staff of the bank, Managing Director/ Chief Executive officer of Fidelity Bank, Mrs. Nneka Onyeali-Ikpe said: “Our long-running support for the growth and development of small businesses stems from our recognition of SMEs as critical agents of economic transformation in Nigeria. That is why we constantly innovate new ways of helping them meet their objectives. I thank our customers for keeping faith with us and our staff for going the extra mile in delighting our customers”.

According to Mrs. Onyeali-Ikpe, over the years, Fidelity bank has developed a strong multifaceted SME banking franchise, driven by tailored products and services. She also noted that the bank has attractive offerings backed by the requisite one-on-one and cluster-focused advisory services and hand-holding support for SME customers.

The Global Finance Banking Awards are recognized globally and justly regarded as the industry standard for premier banking and financial services excellence with key sources of data and intelligence on the global banking and finance industry. The yearly awards recognize deserving financial institutions and corporate organizations, that drive innovation in the global financing community. They reflect on the achievement, strategy, progressive and inspirational changes taking place within the financial sector.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

As the APC goes into its presidential primary election, the SMART Women for PYO has welcomed all the delegates, observers and party leaders from across the federation to Abuja while urging them to cast their votes for Vice President Yemi Osinbajo.

The group, in a press statement issued by its co-conveners, Bunmi Oke and Folake Aina, welcomed the delegates to the serene environment of the FCT, noting that they would enjoy the best of hospitality in an atmosphere devoid of insecurity.

The women also appealed passionately to the delegates to consider the interest of the nation, especially the generations yet unborn, when standing face to face with the ballot paper.

Explaining that whatever action they take will determine the future of APC and Nigeria, the group urges the delegates to vote for the most preferred candidate, Vice President Yemi Osinbajo,

The statement reads: ”SMART Women welcome our delegates to Abuja, We equally welcome our party leaders and observers to this ‘all-important’ event.

“We encourage you to be steadfast and pragmatic in your decision-making process as you step into the voting arena.

“Please vote for a seasoned administrator, a lawyer per excellence and the man that will take Nigeria out of the woods, Professor Yemi Osinbajo.

“He is the only one that has been to all the states of the federation, to canvass for votes. This shows how much he holds you in high esteem.

“It is our hope that you, our honorable delegates, will do the needful and put the country first by voting a man that has been in the saddle in the last seven years.

“With the help of God and your support, Osinbajo will surely put Nigeria on the right path. God bless us all.

FirstBank delighted investors with a pleasant surprise when it announced stellar results confirming that its turnaround strategy pinned on the pillars of innovation, resilience and digging deep is working.

Its profit after tax spiked 108% to N32.4billion on the back of massive loan recoveries and a sharply lower level of non-performing loans (6.1%). Its capital adequacy ratio (CAR) increased to 17.4%, giving it the much-needed buffers required to withstand financial shocks and turbulent headwinds in the coming quarters.

FirstBank, one of a handful of banks that adopted the holding company structure, has been proven right as almost all the other tier one competitors have emulated the model. As far as competition is concerned, FirstBank is fighting hard to recover lost grounds to the nimble fintechs, the highly capitalised and efficient telcos and their payment savings bank subsidiaries.

Indeed, FirstBank is well equipped to fight amongst the sharks in this blood-soaked ocean.

We expect to see FBN stock rise in the months ahead due to its massive undervaluation and its evident potential upside. We recommend the stock as a BUY.

– Financial Derivative Company

Nigeria’s top financial lender, Access Bank, has pledged to fund entrepreneurs and create market access for small businesses by putting them in the right community.

Speaking during a conversation with customers in the micro-, small- and medium- scale category, Deputy Managing Director, Access Bank, Victor Etuokwu, said the bank remained resolute in its drive to engage and empower MSMEs by providing access to funds, markets and knowledge, noting that these objectives were at the heart of the business engagement sessions in key cities across the nation.

He said apart from providing funding for MSMEs, the bank also enhanced their capacities and created networking opportunities for them.




“The North remains a strategic business environment for the bank and that is why we have organized this engagement session to provide an opportunity to meet one on one with our SME customers in Abuja, provide them with a platform to ask questions, get answers and solutions that help them take their businesses to the next level. We are committed to being a bank that gives more to our customers and that includes more listening and more engagement and this forum allows us meet up to that promise.” Etuokwu said.

He further said Access Bank was the only bank with a department focused on women in Nigeria and across Africa, stressing that the bank believed women were a glue that held the society together. He said the bank also worked with both genders to elevate their economic statuses. He noted that the bank viewed MSMEs as critical segments of the Nigerian economy as they contributed more than half to the Gross Domestic Product and created over 60 per cent of the jobs.

“We want to elevate Abuja because we believe there is so much more to be done here,” he said, noting that MSMEs were the reason for positive things happening in the Nigerian economy.

“We intend to be more present and relevant in the lives of our customers than ever, and we want to ensure business owners have easy access to funds to sustain and expand their businesses. We are committed to providing excellent services both online and offline to meet the varied needs of all our customers and create impact in the lives of both individual and MSME customers alike,” Etuokwu added.

The engagement session is one of the benefits for customers that are under the Diamond Business Advantage proposition from Access bank which has been designed to add value to Micro, Small and Medium scale business owners so that they can grow their businesses with smart banking. The proposition provides SME’s market linkages, increased referral base and networks that enable them scale the hurdles of accessing new markets for their products.

Networking sessions such as Business Clubs, Business clinics, and Business seminars enable MSME customers expand their referral base through interacting with other MSMEs

Access Bank is the leading retail bank in Nigeria with over 600 branches and more than 40 million customers. The Bank offers products and services tailored to suit the lifestyle of every Nigerian irrespective of age and demographic.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Bashir Jamoh has felicitated with the Nigeria Navy and the Chief Naval Staff Vice Admiral AZ Gambo, on the arrival of NNS Kada at the Nigeria after about 56 days of voyage from the United Arab Emirates.

The special message of congratulation to the Nigerian Navy was contained in his verified twitter handle @jamohbashir.

He described the arrival of the warship as a most impressive feat that will boost maritime security.

“From the bridge of Nigeria’s latest and boldest naval acquisition, NNS Kada with the Chief of Naval Staff Vice Admiral AZ Gambo on the arrival of the warship; it is a most impressive feat & will boost maritime security. Congratulations to the Nigerian Navy. Onward together indeed,” Dr. Jamoh twittered.

The newly acquired warship NNS Kada, arrived at its new home port in Apapa, Lagos from the UAE Emirate on Saturday, May 27, after a 56 days voyage and Port call to about five countries.

Kada was ordered from Damen Group in 2019 and built at Albwardy Damen shipyard in Sharjah, the United Arab Emirates (UAE). It was laid down in December 2019, launched in June 2021, and handed over to the NN in Sharjah on March 30. The vessel departed for Nigeria on April 1 and prior to its arrival in Lagos, made stopovers in five countries: Angola (Luanda), Gabon (Port Gentil), Kenya (Mombasa), Oman (Port of Duqm), and South Africa (Cape Town).

Based on Damen’s LST 100 design, the ship will be used for a range of duties including strategic transport of equipment and troops, humanitarian assistance and disaster relief operations, and to project maritime security into the Gulf of Guinea.

With 1,300 dwt, an overall length of 100 m, and a 16 m beam, the LST can carry a crew complement of 32 plus 16 embarked marine forces (EMF) in the deckhouse, with accommodation for an additional 234 EMF at mid-ship below the main deck.

Kada is powered by two Caterpillar 3516 diesel engines and four Caterpillar C18 generators to provide a top speed of 16 kt and a standard range of 4,000 n miles at 15 kt.

It features a bow ramp and davits for two landing craft, a 540 m² roll-on/off (ro-ro) deck, and a 420 m² cargo deck for dry stores and ammunition.

The ship deck can carry one medium-sized helicopter.

Senator Lekan Mustapha withdraws from Ogun East Senatorial race.

Dr. Babatunde Ipaye announced the decision of the incumbent Senator representing Ogun East today.

Senator Mustapha and his supporters have been allies of the immediate past governor, Senator Ibikunle Amosun, but recently joined the mainstream of the All Progressives Congress (APC) led by the state governor, Prince Dapo Abiodun.

Other contestant jostling for Ogun East Senatorial race include, former Governor Gbenga Daniel, Otunba Oluseyi Oduntan, Mr Segun Olumide Senbanjo, Engr Deji Ashiru and others who want the tickets of their respective political parties ahead for the 2023 senatorial election in the zone.

More to follow

Ogun East: Oduntan has not stepped down, he remains the leading candidate

The campaign team of Otunba Oluseyi Oduntan wishes to notify the public that there is no iota of truth in the story making the rounds that Otunba Seyi Oduntan has stepped down for Gbenga Daniel.

The story is not true, it is fabricated by those loyal to Daniel, it's absolute falsehood.

Otunba Oduntan is very much in the race, he is the leading candidate and remains the man to beat in today's Senatorial primary election.

Otunba Oduntan urges the media to always verify the information sent to them so as not to be caught in the web of falsehoods.

Meanwhile, it is a fact that some delegates have been held hostage at different hotels in Ijebu Ode and Sagamu.

Some delegates have been sending SOS messages that they were tricked to attend a meeting in some hotels and they have refused to let them go.

Many of them claimed to have been locked up at Conference hotels in Ijebu Ode and Sagamu as well as Grand hotel in Ijebu Ode.

Lies from the pit of hell
Reacting, Architect Oluranti Oresile, Director General
Triple O Campaign Team, said the leading aspirant in Ogun East Senatorial District, Otunba Oluseyi Oduntan (Triple O) has not stepped down for anybody. Desperate people are spreading disinformation all over the place because they now realise that they will fail at today's primaries.

Just consider the following:
Otunba Gbenga Daniel is from Remo where the Governor emerged. He is now claiming Omu on Odogbolu Local Government where Femi Ogunbanwo has now emerged as the candidate for House of Representatives. So how can a Senatorial candidate emerges from either Remo or Odogbolu?

Also, Senator Lekan Mustapha is from Ijebu North Local Government where Honourable Adegbesan has emerged as the candidate for the House of representatives. How is it possible that both key positions can be placed in that Local Government?

Ijebus will never allow this to happen. This is why the Senatorial seat has favoured Otunba Oluseyi Oduntan in the spirit of equity fairness and balances ticket for APC going forward.

Triple O will emerge as the Senatorial candidate from Ogun East.

Architect Oluranti Oresile
Director General
Triple O Campaign Team

The campaign team of Otunba Oluseyi Oduntan wishes to notify the public that there is no iota of truth in the story making the rounds that Otunba Seyi Oduntan has stepped down for Gbenga Daniel.

The story is not true, it is fabricated by those loyal to Daniel, it's absolute falsehood.
Otunba Oduntan is very much in the race, he is the leading candidate and remains the man to beat in today's Senatorial primary election.

Otunba Oduntan urges the media to always verify the information sent to them so as not to be caught in the web of falsehoods.


Lies from the pit of hell

I, Otunba Oluseyi Oduntan (Triple O) has not stepped down for anybody. Desperate people are spreading disinformation all over the place because they now realise that they will fail at today's primaries.

Just consider the following:
Otunba Gbenga Daniel is from Remo where the Governor emerged. He is now claiming Omu on Odogbolu Local Government where Femi Ogunbanwo has now emerged as the candidate for House of Representatives. So how can a Senatorial candidate emerges from either Remo or Odogbolu?

Also, Senator Lekan Mustapha is from Ijebu North Local Government where Honourable Adegbesan has emerged as the candidate for the House of representatives. How is it possible that both key positions can be placed in that Local Government?

Ijebus will never allow this to happen. This is why the Senatorial seat has favoured Otunba Oluseyi Oduntan in the spirit of equity fairness and balances ticket for APC going forward.

Triple O will emerge as the Senatorial candidate from Ogun East.

Meanwhile, it is a fact that some delegates have been held hostage at different hotels in Ijebu Ode and Sagamu.
Some delegates have been sending SOS messages that they were tricked to attend a meeting in some hotels and they have refused to let them go.

Many of them claimed to have been locked up at Conference hotels in Ijebu Ode and Sagamu as well as Grand hotel in Ijebu Ode.

…to mobilise campaign for Gov Abiodun’s 2nd term

It was mixed feelings on Thursday as many of the supporters of OmoOba Segun Senbanjo broke down in tears when the news was broken to them that their candidate for Ogun East Senatorial election had stepped down for Otunba Oluseyi Oduntan.

Some of them who wept uncontrollable were however comforted by Senbanjo who promised to remain with them and urged them to cast their ballots in support of Oduntan.

While promising to support the second term ambition of Governor Dapo Abiodun, he assured that he will work assiduously to get the governor re-elected.

…for the records…
Text of OmoOba Segun Senbanjo’s speech while addressing Ogun East Senatorial Chairman and 18 states Executives

I cannot over emphasise that H.E Dapo Abiodun remains the best preforming Governor Ogun State has ever produced in the history of the State. His excellent performance in various sectors of our local economy is not only exceptional but exemplary in the areas of of Infrastructure, Education, Health and Transportation.

He has achieved a record that none of his predecessors could boast of, by increasing the State IGR of N100 billion, attracting Direct Foreign Investment to the State of up to $1 billion dollars.

Furthermore, he remains the first Governor of Ogun State to establish an Agro hub airport and also build several Ports in the State.

Governor Abiodun remains the 1st Governor to create high numbers of levels of Job creation never witnessed in the State, thereby reducing the rate of unemployment never witnessed before.

On infrastructure, I cannot overemphasise that H.E Dapo Abiodun remains the best performing Governor of Ogun State, he is the best ever produced in the history of the State.

His excellent performance in various sectors of our local economy is not only exceptional but exemplary in the areas of of Infrastructure, Education, Health and Transportation.

I am currently discussing with and engaging the Bill Gates foundation with the hope and promise to bring and establish several welfare programs which will impact our brothers, sisters and youths in our constituency.

In addition, I am also discussing with some potential foreign investors with the aim that they will invest and establish industries in our constituency.

I will continue to support and serve my constituency within my utmost capabilities by ensuring that not only the continuous selfless agenda of Governor Abiodun is implemented but also my desired program for the people of my constituency is brought to fruition.

If it is who will spend the most money, I cannot compete. If it is “I have been this or that, senator governor, this and chairman that, I will not win this primaries.

If it is about money, all of you our distinguished delegates will not be here. And why will you not be here? You cannot be bought by money or influence ever again . Never again.

Distinguished delegates, you are the power and I am here to humbly ask that you allow me represent that Power; to be your mouthpiece and discuss your socio- economic needs in Ogun East constituency with our Governor and bring empowerment and development to our zone and the entire state.

This is worth more than selling your votes. This is about your individual and party independence. Let our members freely decide who they want as their representatives and not taking orders from any one.

This election is not just about who goes to senate or other positions, but an opportunity to restore supremacy of party members and not taking orders from any one. I represent that change.

I offer you change; change from master-servant to equal partners.

Distinguished delegates, you are the power. Without you there is no president, Governor, Senator or House of Reps, etc.

The journey to these offices always start here, with you distinguished delegates. We come and promise you gold and diamond and sometimes even harass you to vote for us.

But what happens after people arrive Abuja? You don’t feel any impact for four years.

I offer you change as your servant-senator to go to Abuja and fight for our state and to go to Abeokuta to fight for our constituencies, not to regale in my position.

Big man? No, I will not be a ”big man” in Abuja. We will work together at the local level and build and develop ogun state together, which is Governor Abiodun’s socio-economic policies, that is my promise to you.

I know the issues and will join hands with our amiable and hard working Governor Abiodun to achieve his people oriented policies, plans and projects.

God bless you.
God Bless Ogun East.. God Bless Ogun State. Iseya…

.Omo’Oba Segun Olumide Senbanjo (SOS… Save our Souls) gave this speech before stepping down.

Dapo Abiodun, Ogun governor, has been declared the winner of the governorship primary of the All Progressives Congress (APC) held in the state.

More shortly…

In furtherance of its commitment to tackle Nigeria’s housing deficit, Landwey Investment Limited, Nigeria’s largest residential developer, has announced plans to deliver 1000 premium homes starting from the end of the second quarter of 2022.

Managing Director, LandWey, Shola Bello, made this known in a chat with newsmen on Monday.

While speaking on the impact of the COVID-19 pandemic and the resultant economic recession on the real estate sector in Nigeria, Bello, however, noted that the company has been able to deploy measures to mitigate the challenges posed by the crisis.

According to her: “2022 began on a rough note for most real estate developers in Nigeria. This has been made obvious by the growing apprehension amongst some clients over the viability of their investment owing to delayed delivery of housing units and some publications addressing these issues.

“Many developers in Nigeria have openly addressed some of the challenges experienced in the course of construction and delivery of housing projects, a challenge which is largely attributed to the impact of the 2020 Covid-19 pandemic and the resultant economic recession.

“In the past few years, many developers have had to navigate the harsh economy and its severe impact on all businesses across many industries. While it may appear that many of these businesses have recovered from the impact, the story is not quite the same for the real estate industry.

“The industry has felt its huge blow from resultant factors ranging from scarcity of labour, a challenge we have since overcome, scarcity of building materials, unfavourable importation policies, long project approval timelines as well as other environmental limitations.

“However, our clients are always at the forefront of everything that we do, therefore, we have had no other choice but to unearth new and creative solutions in order to mitigate the rippling effects of the pandemic and the harsh realities of the global economy.”

Speaking further, the company’s chief lamented that most real estate development companies had to reassess and adjust their operations to acclimate to the “new atmosphere by working and negotiating potential changes in project completion timelines and the management of their internal and external workforce, communicating challenges and progress updates routinely with investors and reviewing supply agreements with suppliers while also determining the impacts of delays in our delivery obligations as well as other potential risk factors.”

She added that after what appeared to be a challenging Q1, the company is now making a headway on housing project delivery with a mass delivery of homes scheduled to take place at the end of the second quarter.

“I can assure you, by the third quarter of 2022, we would be well on our way to completing at least 1000 homes,” Bello concluded.

Only nine aspirants serious with contest -Source
Osinbajo, Lawan, Tinubu, Umahi, Okorocha lead race
Others buy Senate forms, pay N120m


There were indications that of the 25 presidential aspirants of the All Progressives Congress (APC) only 9 of them are really in contest of the position.

The 9, who are said to be seriously in contest are: APC National Leader, Asiwaju Bola Ahmed Tinubu; former Governor of Imo State, Senator Rochas Okorocha; the Vice President, Prof. Yemi Osinbajo; Minister of State for Education, Emeka Nwajiuba; Governor of Kogi State, Alhaji Yahaya Bello; Governor of Ebonyi State, Dave Umahi; Minister of Transportation, Rotimi Ameachi; President of the Senate, Senator Ahmed Lawan and former governor of Zamfara State, Senator Ahmed Sani Yerima.

However, investigation has shown that about 60 per cent of the Presidential aspirants of the party, also obtained nomination forms of the party’s Senatorial ticket. For them, it is a situation of if the Presidential ticket did not work, the Senatorial ticket would work.

A party source revealed that no Presidential aspirant with Senate Nomination forms would be denied Senatorial ticket.

The cost of Presidential nomination forms and Senatorial nomination forms is put at N120 million. While the Presidential nomination forms cost N100 million, the Senatorial nomination forms is N20 million.

According to the party source, no aspirant would pay N120 million and would be denied the two tickets.

The source explained the reason most of the Presidential aspirants have picked the Senatorial nomination forms.

Among those, who were alleged to have also picked the Senatorial nomination forms are: Governor of Ekiti State, Dr. Kayode Fayemi; former Governor of Ogun State, Senator Ibikunle Amosun; former Governor of Imo State, Senator Rochas Okorocha; Governor of Ebonyi State, Dave Umahi; former Governor of Akwa Ibom State, Senator Godswill Akpabio; former APC National Chairman, Comrade Adams Oshiomhole and some others.

Investigations also revealed that some Presidential aspirants joined the race because they believed the ticket was going to be zoned to their zones.

Such aspirants that entered the contest on zoning are Fayemi and Ibikunle Amosun (South West), Dr. Ogbonnaya Onu, Senator Ken Nnamani, Chief Ikeobasi Mokelu, Senator Godswill Akpabio (South East and South South) and Senator Ahmed Sani Yerima and Senator Ahmed Lawan (North).

Also some were drafted into the contest by some other aspirants. Such aspirants are: Comrade Adams Oshiomhole and Chief Timipre Sylva, a source said

A party chieftain said the surge in the aspirations of party members for presidential ticket was the inability of the party to categorically state the zone its Presidential ticket would go to as a result of the emergence of the National Chairman, Senator Abdullahi Adamu.

Adamu had kicked against zoning of the Presidential ticket of the party to the South as a sitting Senator. Recently, also at the Presidential Villa, he told newsmen that the APC had not zoned its Presidential ticket.

A Chieftain of APC, reacting to this said: “The utterances of the National Chairman on zoning has led to the emergence of a number of the Presidential aspirants, including aspirants from the North, who were hitherto not willing to join the race.

“This might have dangerous consequences for the party, if not properly addressed.

“Proper zoning of the Presidential ticket would have reduced the litany of aspirants and possible reduce the impending crisis in the party.”

Some of the aspirants, who collected and returned their nomination forms are: Amosun, Onu; former Speaker of House of Representatives, Hon. Dimeji Bankole; Amaechi, Fayemi, Osinbajo, Tinubu and Nwajiuba.

Others are Umahi, Okorocha; Gov. of Jigawa State, Abubakar Badaru; Pastor Tunde Bakare, Dr. Ibrahim Bello Dauda, Dr. Nicholas Felix, Mrs. Uju Kennedy Ohanenye, former Senate President, Dr. Ken Nnamani; former APC National Chairman, Comrade Adams Oshiomhole and President of the Senate, Senator Ahmed Lawan.

Former President Goodluck Jonathan, Minister of Labour and Productivity, Senator Chris Ngige and Governor of Central Bank, Mr. Godwin Emefiele are said to have withdrawn from the contest after obtaining the Nomination forms.

The party source said: “APC is expected to raise enough money to prosecute its Presidential election since it is not expected to put its hands in the government vault to finance its elections.

“Also, the party is expected to be financially strong after the sales of forms and elections. Beyond the Expression of interest and nomination Forms, there are other monies some aspirants are asked to pay.”

In a statement issued by the Iyke Ekeoma, from the Media office of the Senate President, he said: “The Senate President joined the race after sustained pressure from concerned compatriots representing different geo-political divides. As a member of the National Assembly since 1999, many believe the country needs a man endowed with such experience to navigate the polity.

“Remarkably, Lawan hails from Yobe State in the North-East. That part of the country is the only zone that has never produced a President since Independence in 1960.

“The first president, Dr. Nnamdi Azikiwe emerged from what is today referred to as South-East. President Shehu Shagari hailed from the North- West just like Presidents Musa Yar’adua and Muhammadu Buhari.

“The South- West produced Dr. Olusegun Obasanjo while Dr. Goodluck Jonathan filled the slot of the South -South.”

Meanwhile, the party yesterday inaugurated the screening committee for the governorship and National Assembly aspirants. Inaugurating the committee, the Deputy National Chairman (North), Senator Abubakar Kyari, said: “We have a very strong party. We have a big party. And we’re committed that we deliver the right candidates for the forthcoming elections. We have no doubt that the distinguished ladies and gentleman.”

Also, the National Organizing Secretary, Alhaji Suleiman Arungun, gave a break down of the aspirants.

He said: “We have so far, 145 aspirants for the governorship and we have constituted three panels to screen the governorship aspirant; 351 Senatorial aspirants that have also returned their senatorial aspiration forms, while we have 1,197 aspirants for the House of Representatives with 10 panels.

“The panels for the Senate is going to be four. In addition to that, we have the guideline of our great party that will be given to each of the panels for screening and indeed the Appeal Committee.

“We also have a set of guideline an aspirant assessment and verification form that will be given to each of the committee for the screening and also each of the panel will be given collections of the forms names, expression of interest forms and the guidelines of our party, each of these for guidance.

“We expect that this work will be done between today and tomorrow. Like the previous speakers have said, this are gentleman, who are also conversant with this type of job. We believe this is not going to be a big assignment to all of you and we pray you will do justice to all the aspirants so that by 2023, we will have very credible candidates that are going to contest on the platform of our great party.

“As we all know, with the love people have for the APC, we also appreciate to have credible leaders that will add value to the party in 2023 election.”

...says it was sponsored by Amosun, backs governor for second term

As the APC begins screening of political aspirants, the Ogun State Chapter of the Inter-Party Advisory Council (IPAC), has reacted to a petition sent to the National Chairman of the All Progressive Party (APC), Senator Adullahi Adamu, by one Ayodele Oludiran, which called for the disqualification of Governor Dapo Abiodun from contesting the 2023 election. 

The group, while describing the petition as spurious and worthless, urged Adamu and the APC leadership to ignore such petition, saying this is a political season where all manner of strategies would be deployed to nullify the candidacy of leading political figures.

Some loyalists of Governor Abiodun had earlier alleged that the so-called Oludiran, is being sponsored by the immediate past governor of the state, Senator Ibikunle Amosun, who was said to have bankrolled the hatchet job. 

Speaking at a press conference in Abeokuta, the State's IPAC Chairman, Comrade Samson Okusanya, accused Amosun and some political gladiators of sponsoring Oludiran to blackmail and malign the governor, in an attempt to stop him from contesting for second term. 

Okusanya urged the national leadership of the APC to disregard the "rantings of the drowning politicians and power maniacs".

Urging the APC to jettison the petition, IPAC said that the council is ready to resist any attempt by the former governor and his cohorts to disqualify Abiodun’s second term bid.

The IPAC’s chairman also explained that the group will not allow itself to be part of any plan by Amosun to disqualify Abiodun from contesting the 2023 polls. 

Calling on Ogun people to support Abiodun for another tenure, the IPAC leadership insisted that Abiodun has completed many projects abandoned by Amosun and he is still putting in place, laudable projects in the state.

The letter to the APC reads: "Our attention has been drawn to the petition written and signed by one Ayodele Oludiran on behalf of a group seeking the disqualification of Prince Dapo Abiodun MFR, the Executive Governor of Ogun State. To our consternation, we found out that the petition is spurious, not genuine and a calculated attempt to disparage the person of the Governor.

“Your Excellency Sir, with the petitioner ranting all through his epistle, it is made clear that Ayodele Oludiran, substantially lacks the capacity to correctly understand the complexities in rational thinking, needed to be a responsible public commentator. We also discovered that the very long, but embarrassingly empty epistle of calumny, written by said  Ayodele Oludiran, has definitely marked him out as a very worthless addition to the human race.

“We urge the National leadership of the ruling Party to disregard the rantings of the drowning politicians and power maniacs, by jettisoning the petition as it’s an attempt to make the state ungovernable by the former Governor and ultimately, turn Ogun State to a war zone because his 8 years were wasted administration, which was characterised by looting and award of contract to pseudo contractors, diversion of bail out fund has become a thing of the past under the transparent administration of Prince Dapo Abiodun.

“Definitely, the fifth columnist, who are hiding behind their fingers to truncate the development of Ogun State through all means including the latest attempt through the spurious petition shall be put to shame.These set of people who has  mismanaged the resources of the State, while at the helms of affairs (2011 to 2019) in the State through so many fraudulent white elephant projects are today the mantrach/ Epitome of “We shall do all things plunged the State into huge debts.

 “A tour round the State, to the sites of the abandoned Model Colleges where a whooping N52 billion was wasted by the immediate past Governor, vividly showed that posterity will judge him and his Government accordingly and even they ought to cover their eyes in shame because all abandoned, but fully paid road projects by their own administration has now been completed.

“The former Governor and his group, sponsoring the faceless Ayodele Oludiran, are boasting round the State that they will malign, scandalise and blackmail Governor Dapo Abiodun, but the era of recycled political racketeers, who are strictly merchants without commitment and conscience for the Governed must be collectively brought to a final stop through a positive change as represented by His Excellency, Governor Dapo Abiodun MFR performance”.

The Onagoruwa Family of Odogbolu in Odogbolu Local Government Area of Ogun state, has disclaimed a write up purportedly written by a family member attacking the personality of Governor Dapo Abiodun.

The family, in a letter signed by its head, Onagoruwa and Baba Oba of Odogbolu Kingdom, Emeritus Professor Tola Atinmo and the Secretary of Onagoruwa Descendants Union, Rev Wale Onagoruwa, described the write up as fictitious.



An acclaimed member of Onagoruwa Family, AOO Olu- Onagoruwa had written against Governor Abiodun tagging him a governor without honour and dirty secret.

But in a statement by the Onagoruwa Family, the faceless AOO, who claimed to be a writer and vegetable based farmer based in Ilishan-Remo, was disowned, saying such a person does not exist in the family.

According to the family, there is no person in the family with such a name and based in Illishan-Remo, asking Governor Abiodun and members of the public to disregard such a write up.

According to the family, “the writer was not only a coward, but a con artist with or without sponsors wants to deliberately bring our cherished family name into disrepute, controversy, dishonour”.

“The attention of the Onagoruwa Descendant Union (Home and Abroad) has been drawn to a write up purportedly written a member of the family name “Dr AOO Onagoruwa“ the Onagoruwa Family Hereby states that the Name is fictitious and also that no such person exists in our Family. We further state without any fear of contradiction that there is no Onagoruwa (living or dead) who lives in Illishan-Remo Remo,an author, writer and public analyst.

“The writer of the article deliberately decided to use our family name to lend credence to his write thus drawing public opinion/attention to the article the public is hereby notified, particularly the office of his excellency, the executive Governor of Ogun state, that we the Onagoruwa family (home and abroad declare that the author is not and has never been a member of our family, and that no such person with that name or details exist in our family or in reality.

“The writer is a coward and a con artist who whether by him or herself, with or without sponsors wants to deliberately bring our cherished family name into disrepute, controversy, dishonour”, the statement read.

Sequel to the submission of the APC Nomination and Expression of Interest forms by Vice President Yemi Osinbajo, a female support and advocacy group, S.M.A.R.T Women, has appealed to delegates who would be voting in the forthcoming APC presidential primary, at the end of this month, to elect the Professor of Law by giving him the majority of votes.

The female group, which had been canvassing for the election of the Vice President as substantive President, come 2023, said it has become evidently clear that Osinbajo is the man Nigerians had been waiting for, as such, the delegates should not miss the opportunity in abiding by the wishes of Nigerians.

In a statement issued shortly after Osinbajo submitted his Nomination and Expression of Interest forms in Abuja, the co-conveners of S.M.A.R.T Women for PYO, Mrs Folake Aina and Bunmi Oke, said it is only right that the delegates should listen to voice of wisdom and not cut short the wishes of the people.

The women also urged the leadership of the party to ensure that a level playing field is granted to all contestants and let the votes of the delegates count.

“It is not only unfortunate that some aspirants are just in the race to test waters, it is highly ridiculous that some of them are withdrawing even before the contest.

“While Osinbajo is working very hard, crisscrossing the length and breadth of Nigeria, a lot of others are waiting to be served a la carte.

“It is not in doubt that Osinbajo is the most qualified, most suitable and most prepared for the top job, having been in the saddle for seven years and learnt the ropes.

“His loyalty to his principal, his passion and dedication for the job and his commitment and patriotism towards a united Nigeria are unparalleled.

“Nigeria does not need a greenhorn that will learn on the job. Our country needs someone that will hit the ground running.

“And this is why we think it is in the best interest of everybody that the highly cerebral lawyer cum administrator is elected as the candidate of the APC.

“Allowing delegates to go through the rigours of a 48-hour contest like we witnessed in 2014 at the Teslim Balogun Stadium in Lagos, without coming out with an acceptable candidate for the party may not help the APC’s course.

“It is in the light of this that we passionately appeal the delegates to please use their good conscience in ensuring that a good man, who is the hope of Nigeria emerges.

“We all know that the VP will definitely emerge the President of Nigeria in a free, fair and credible election, so why waste time in making him the APC candidate?

“It is in the light of these facts, that we are asking to the leadership of the APC and all the delegates to vote Vice President Yemi Osinbajo as thier preferred candidate and also announce him as the lawful custodian of the party’s ticket,” the statement reads.

Association Of Senior Staff Of Banks, Insurance And Financial Institutions (ASSBIFI), has condemned the disengagement and refusal to settle severance benefits of its over 30 exited members by the management of Heritage Bank.

It also said the decision was an outright violation of Section 20 of the Labour Act.

The troubled bank has been in the news for the wrong reasons recently and the once-bubbling Heritage Bank may go under if nothing is quickly done by the Central Bank of Nigeria (CBN). This is because in less than one year after assuming office as Heritage Bank’s chief executive officer, Mr. Akinola George-Taylor forcefully booted out over 70 senior staff members of the bank, while a number of others were asked to resign plunging the bank in further crisis. More worrisome was the fact that the affected staff were disengaged without paying them their accrued entitlements and allowances.

The internal crisis allegedly instigated by the new bank chief was in an attempt to rid the bank of those suspected to be loyalists of some board members, and employ his own people. The move, sources disclosed, were unconnected with the new bank chief’s plan to oust some board members who are said to be at loggerheads with him, from the bank. The bank’s chief was said to be enjoying the support of a top shareholder of the bank whom sources say is allegedly determined to solely take over the bank and get rid of the owners.

Speaking, Comrade Olusoji Oluwole, president of ASSBIFI, at a press briefing in Lagos at the weekend, said the management of Heritage Bank, after three months, has refused any dialogue with the union as provided by law, by insisting to have terminated the workers’ appointment based on their company policy.

Oluwole, emphasised that the union will not allow the unfair labour practices being perpetrated against hardworking and struggling Nigerian workers em­ployed in Heritage Bank PLC, especially the over 30 members of ASSBIFI, including a principal national officer of the associ­ation in May, 2023 without due process to continue without recourse to due process

He said: “ASSBIFI will deploy all its networks and contacts to mobilise affiliate trade unions and Nigerian workers towards protecting the rights and privileges of our members in Heritage Bank PLC., over outright violation of Section 20 of the Labour Act, Cap L1, LFN 2004, the ASSBIFI Industry Wide Collective Agreement, and the ILO Convention 158 on Termination of Employment.

“Our frustration trying to amicably settle the myriad of unfair labour practices that the management of Heritage Bank has continually perpetrated on vulnerable Ni­gerian workers.

“This action was condemned by ASS­BIFI as an outright violation of Section 20 of the Labour Act, Cap L1, LFN 2004, the ASSBIFI Industry Wide Collective Agree­ment, and the ILO Convention 158 on Ter­mination of Employment, which specifi­cally provided that “the employment of a workers hall not to be be terminated unless there is a valid reason for such termination”.

“This has been rightly recognised by the National Industrial Court (NIC), and we abide with it.

He specifically said: “As the Statutory Representative of Senior Employees in the Nigeria Financial Sector, and in line with our policy on social dialogue, ASSBIFI en­gaged the management of Heritage Bank on several occasions to demand justice for the vulnerable Nigerian workers’ whose employments were wrongfully terminated.

“The management insisted to have ter­minated the workers based on their compa­ny policy, without negotiation or dialogue with the Union as provided by law.

“ASSBIFI requested the Management of the Bank to supply the Company Policy and Details of the claimed payments and settlements of the severance benefits paid to the disengaged Employees.

Access Bank Plc says it is partnering with the ministry of Humanitarian Affairs, Disaster Management and Social Development to roll out the Government Enterprise and Empowerment Programme (GEEP) 2.0 in all the 36 states and the Federal Capital Territory.

Successful beneficiaries of GEEP 2.0 shall receive congratulatory and sensitization text messages in the coming days informing them of their qualification and re-emphasis that the empowerment program is a loan and not a grant.
The GEEP 2.0 is a loan scheme designed by the federal government to provide financial inclusion and give credit access to poor and vulnerable individuals, including Persons With Disability and persons at the bottom of the economic pyramid who are engaged in small scale commercial activities under its three flagship schemes: MarketMoni, TraderMoni and FarmerMoni.

The ministry said it is planning a rollout of the program nationwide, after which an enumeration exercise to capture beneficiaries’ bio-data, will take place.

According to Group head, Emerging Businesses, Access Bank, Ayodele Olojede, the Bank remains committed to the growth and development of the micro, small and medium scale enterprises (MSMEs) as we understand their contribution to the economy in terms of GDP and Employment.

“Our partnership with the Federal government to roll out the Government Enterprise and Empowerment business Programme GEEP 2.0 in all the 36 states and the Federal Capital Territory is part of our commitment to address the primary factor small business owners face,” Olojede pointed out.

In rolling out the Government Enterprise and Empowerment business Programme(GEEP) 2.0 loans, special accounts will be opened for all beneficiaries for the disbursement of the loan and all beneficiaries are expected to complete physical enumeration at their various local government and an account opening form of Access Bank prior to disbursement.

…stresses need for safety of navigation on waterways

The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Bashir Jamoh has expressed his agency’s condolences to the families of the 15 persons who lost their lives in a boat accident in Katsina State.

In a tweet via his verified official Tweeter handle, Jamoh described the accident as disheartening while urging users of water transportation to pay attention to safety of navigation across 26 states of the country where Nigerian inland waters travers

He tweeted “Absolutely disheartened to receive the news of the boat accident in Katsina killing 15 travellers.
“Yet another reminder that we must pay more attention to the safety of navigation in our inland waterways which spans over 26 states. My condolences to the families of the deceased”

Fifteen persons were reportedly dead after a boat capsised at a section of a river site located at Mai’adua Local Government Area of Katsina State.

The incident, according to an eyewitness, occurred on Wednesday at about 11:00 p.m. when the canoe conveying an undisclosed number of passengers capsised which which led to the death of 15 people on board. The victims have been buried.

With the promise to offer quality representation, Okoro Uchenna Kalu, a young journalist and former banker, has declared his intention to represent Arochukwu State Constituency in the Abia State House of Assembly in 2023.

Kalu, who obtained the All Progressives Congress (APC) nomination forms for the constituency seat at the party’s secretariat, Umuahia, the state capital, said it was time for him to serve his constituents.

A native of Atan Abam in Arochukwu Local Government Area, Kalu has over a decade experience in banking and journalism,

The 32-year-old noted that he has been a strong advocate of grass root development and has actively participated in grassroot politics.

Kalu promised to “do everything within reach to liberate my constituency from the shackles of bad representation come 2023.

“I feel elated picking up this expression of interest and nomination forms. Indeed, it’s been God all along directing our paths and decisions.”

He lamented that Arochukwu LGA has “suffered for long and it’s time we take the bull by the horn and effect that change and correction we all seek.

“I want to restore the people’s confidence in the government and eliminate bad and corrupt representation.”

According to him, youths in his constituency have lacked much needed empowerment for years and that he is ready to change the narrative.

“I will ensure that our voice is heard and we’ll be represented. I’ll ensure we’re not left behind in the infrastructural dividends due for us.

“It’s a youth advocacy movement and collectively we’ll achieve this quest victoriously. I am here to serve, represent and speak for my people,” he said.