Author: Ifetayo Adeniyi

This is to notify Nigerian Exchange Limited (“NGX”) and the investing public that First Bank of Nigeria Limited, a subsidiary of First HoldCo Plc (the Company), has appointed Dr. Julius B. Omodayo-Owotuga (Dr. JB) as an Executive Director, effective 13 May 2026, further strengthening the Bank’s leadership capacity across strategic finance, governance, risk management, and institutional transformation. Dr. Julius B. Omodayo-Owotuga brings twenty-four (24) years of experience spanning banking and financial services, infrastructure finance, power, oil & gas, and audit and consulting. His appointment reflects the Bank’s continued commitment to strong governance, disciplined execution, financial resilience, and sustainable long-term growth.…

Gross Earnings for FY2025 rose by 44.4% to ₦486.8 billion. Sterling Financial Holdings Company Plc (“Sterling Financial” or “the Group”) has announced its audited financial results for the year ended December 31, 2025, alongside its unaudited results for the first quarter ended March 31, 2026, delivering strong earnings growth, balance sheet expansion, and improved capital strength across the Group. According to statement by Group CFO, Sterling Financial Holdings Company PLC, Adebimpe Olambiwonnu, Gross Earnings for FY2025 increased by 44.4% to ₦486.8 billion, representing the strongest performance in the Group’s modern history. Profit Before Tax rose by 89.2% to ₦86.8 billion,…

Union Bank of Nigeria, as part of its activities to mark the 2026 International Day of the Boy Child and in furtherance of its corporate social responsibility commitments, recently visited CMS Grammar School. Located in Bariga, Lagos, it is one of the country’s oldest and most prestigious boys’ secondary schools. During the visit, a delegation from the Bank, led by Head of Corporate Banking and school alumnus Ali Kadiri, engaged with the school management and students to explore partnership opportunities and support for their educational initiatives. As part of the engagement, Union Bank donated educational materials, including books and school…

Manny Ita  – Bolaji Balogun, Chairman of Unilever Nigeria, says the company’s strong performance in the 2025 financial year was driven by operational resilience and sustained investments across key product categories. Speaking during the company’s 101st Annual General Meeting held at the Muson Centre in Lagos, Balogun announced that shareholders approved a final dividend payout of N3.25 per share. Combined with the interim dividend of 50 kobo earlier declared, total dividend distribution for the 2025 financial year stands at N3.75 per share. The company recorded a turnover of N214.3 billion in 2025, up from N149.52 billion in 2024, while profit…

Manny Ita  – Wema Bank has responded to allegations surrounding the sale of properties on Banana Island that were linked to the defunct Gulf Bank, insisting that the transactions were legal and carried out as part of efforts to recover outstanding debts. According to the bank, the dispute traces back to an interbank placement of about ₦4.6 billion made in 2002 to Gulf Bank, which was later reduced to around ₦1.2 billion before the obligation became unpaid. Wema Bank says it then began recovery actions to protect depositor and shareholder funds, especially after Gulf Bank’s collapse and liquidation. The bank…

Manny Ita  – The family of former Kaduna State Governor, Nasir El-Rufai, has accused the Independent Corrupt Practices and Other Related Offences Commission (ICPC) of restricting his access to food and medical care while he remains in detention over allegations of financial misconduct linked to his time in office. In a statement issued by his son, Mohammed El-Rufai, the family alleged that officials of the anti-graft agency prevented the former governor’s personal doctor from meeting him despite what they described as a valid court order granting him access to medical personnel. The doctor was reportedly turned away when he visited…

* Some of the core areas of activities of the gathering were: • Enhancing Governance; • Holding Annual Assembly; • Fostering Future Generations. The opening ceremony of the Inaugural General Assembly of the Global South NGO Platform (GSNP) was held as part of the Baku Urban Week on May 14. The event was well attended by representatives of NGOs from over 110 countries, including Latin America, Africa, Asia, and the Pacific. First, a video highlighting the organization’s one-year activity was displayed. While addressing the event, Hikmet Hajiyev, Assistant to the President of Azerbaijan and Head of the Foreign Policy Affairs…

Manny Ita – The 2025/2026 Nigeria Premier Football League (NPFL) season is set for a dramatic finish as Rangers International and Rivers United head into the final matchday separated by just one point in the title race. After 37 matches, Rangers sit top of the table with 65 points, while Rivers United are close behind on 64 points, setting up a winner-takes-all final round of fixtures. Rangers will travel to Lagos to face Ikorodu City at the Mobolaji Johnson Arena. A win for the Enugu-based side will guarantee them the league title, which would be their ninth NPFL crown and…

Manny Ita  – Deji Adeyanju, Nigerian human rights lawyer and activist, has been appointed to the Board of the Katutu Civil Rights Center, an international civil rights organisation based in New York, United States. The appointment further strengthens his profile as a prominent advocate for civil liberties and democratic governance in Nigeria and beyond. The Katutu Civil Rights Center focuses on human rights advocacy, policy engagement, and support for vulnerable and marginalised communities across different regions of the world. It works with civil society groups, institutions, and policymakers to promote justice, accountability, and wider civic participation. Adeyanju’s appointment is being…

Wema Bank Wema Bank Plc has responded with concern to recent media publications containing false, misleading, and wholly unsubstantiated allegations regarding the sale of certain Banana Island properties purportedly linked to the defunct Gulf Bank Plc. We unequivocally reject these claims, which are inaccurate, malicious, and clearly intended to distort the true position. For the benefit of our stakeholders—shareholders, customers, regulators, and the general public—we set out below the factual background to the transaction. The Original Exposure and Default In 2002, Wema Bank Plc (the Bank) made an inter‑bank placement with Gulf Bank Plc for ₦4.6 billion. By August 2004,…