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Fresh squabbles rock First Bank’s board, threaten recapitilisation

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Fresh squabbles rock First Bank’s board, threaten recapitilisation

By: Michael Mike

A fresh round of squabbles is currently rocking the board of First Bank of Nigeria, a development shareholders fear poses major threat to the bid by the first generation financial institution to strengthen its capital base in line with the recent directive of the Central Bank of Nigeria to all banks operating in the country to recapitalize.
The current crisis rocking the bank stems from protests by shareholders who are kicking against the bank’s internal governance and shareholding structure, as a result of which some of them have taken their grievances to the court. One of such is the case of Olusegun Samuel Onagoruwa v. FBN Holdings Plc in Suit No. FHC/L/CP/1271/2022), which is challenging the capacity of the Board of Directors of FBN to appoint new persons to fill vacant slots.
Onagoruwa in his suit is seeking “an order setting aside, nullifying, annulling and/or quashing the appointments and approvals of Mr. Olusola Adeeyo, Mr. Viswanathan Shankar, Mrs. Remilekun Adetola, Mr. Anil Dua and Mrs. Fatima Ibrahim as Non-Executive Directors of First Bank of Nigeria Limited made on the 20th day of March, 2024, by FBN Holdings Plc during the pendency of this action and in defiance of the subsisting order of this Honourable Court made on the 15th day of July, 2022.”
The motion also seeks an order restraining the above-named non-executive directors from acting or taking any steps as non-executive directors of the bank. The current court case follows similar four other cases pending at the Federal High Court in Lagos and Abuja challenging the internal governance of FBN Limited, in addition to existing court injunctions restraining the bank from holding the last two Annual General Meetings which the bank went ahead to hold.
According to one of the workers union leaders in the bank, “as the tenure of the imposed directors is expiring, the same illegitimate Management of FBN, whose legitimacy is being challenged, has gone further, during the pendency of the cases challenging their competence to lead the bank, to arbitrarily appoint further five independent directors. Where they derived the power from remains a mystery.
“Mismanagement and manipulation of shares are also being alleged in some of the cases pending against the bank while the legality of the AGMs and the imposed board of directors remain a challenge.” The union leader expressed the fear that the spate of litigations and board squabbles currently rocking the bank may bring a quick collapse of the over 100-year- old bank.
Also speaking on the development, a shareholder, Mr. Olalekan Babalola, said “it is imperative for the authorities to find a solution to this lingering crisis as Nigeria cannot afford another major bank’s collapse at this critical time when President Bola Tinubu is working hard to revamp the nation’s crumbling economy. This is because the current crisis will definitely impede the bank from getting the new Central Bank’s capitilisation threshold.”
He called for urgent resolution of all court cases in the overall interest of depositors, shareholders and other stakeholders of the bank before further damage is done to the oldest Nigerian bank.

Fresh squabbles rock First Bank’s board, threaten recapitilisation

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African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders

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African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders

By: Michael Mike

African students were among the standout performers as the KDI School of Public Policy and Management held its 2025 Commencement Ceremony, reinforcing the institution’s growing role in shaping a new generation of global policy leaders committed to ethical governance and sustainable development.

The award recipients included Stephen Ojegbola from Nigeria, who earned the Academic Excellence Achievement Award in Intellectual Property and Development Policy.

Speaking at the ceremony in Sejong, the Dean of KDI School, Professor Joon-Kyung Kim, congratulated the graduating class on what he described as a hard-earned achievement, while urging them to prepare for greater responsibilities ahead.

“Today is a day to take pride in how far you have come. After hardship comes happiness, but beyond one mountain lies another mountain. You are now part of our global KDI community of over 73,000 alumni across 143 countries, and wherever you go, you belong to something bigger,” Prof. Kim said.

The Dean highlighted KDI School’s global standing, noting that it was the first institution in Korea to receive the Network of Schools of Public Policy, Affairs, and Administration (NASPAA) accreditation twice and that it has been recognised for the fifth consecutive year as an excellent institution by the Korean Ministry of Education.

He added that KDI ranked in the global 51+ tier for Social Policy and Administration in the 2025 QS World University Rankings by Subject and placed second worldwide in citations per paper.

He however stressed that the true measure of success lay beyond rankings and awards, insisting that: “More important than accolades is what you take with you—the skills to use data, the values to serve others and the commitment to improve the world around you,” describing Korea’s development experience as a roadmap to sustainable development for emerging economies.

In a keynote address, the Ambassador of Rwanda to the Republic of Korea, Bakuramutsa Nkubito Manzi, charged graduates to embrace collaboration in addressing complex global challenges.

He said: “The era of isolated policy-making is over. Climate change, global health security and rising inequality demand cooperation, empathy and intellectual humility. Your success in public service will not be measured by profit, but by impact.”

He added that KDI training had equipped graduates with the ability to analyse policy through the lens of public good and ethical governance, urging them to become “solution makers, not just problem identifiers,” inspired by Korea’s transformation known as the Miracle on the Han River.

Several other African students received academic awards for exceptional performance at the ceremony. Alinafe Yoyola of Malawi (Master of Development Policy), Alieu Ceesay of The Gambia (Master of Data Science for Public Policy and Management) and Mustapha Colley of The Gambia (Master of Public Policy) won the Academic Excellence Achievement Award, while Pamela Mwale of Malawi, a Master of Public Policy graduate, earned a place on the Dean’s List.

Also, Nander Esmeralda Ndam (Master in Intellectual Property and Development Policy) from Nigeria and Samson Garama Dadu (Master of Public Policy) from Kenya received awards for Student Community Service.

Reflecting on his experience, Ojegbola said he chose KDI School for its unique partnership with the World Intellectual Property Organisation (WIPO).

He said: “This programme links intellectual property directly to development policy. Everything here is intentionally designed to bring the best out of students, and the experience challenged me to grow beyond my expectations.”

Another graduate, Muyama Christine from Uganda, described her journey as demanding but transformative. “Policy works not when it assumes self-sufficiency, but when it recognises interdependence,” she said, adding that her time at KDI had shown her the power of community and shared purpose.

African Students Clinch Top Honours as KDI School Graduates New Global Policy Leaders

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Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger

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Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger

. As NDLEA Mother and Child over 1,187 kilogrammes skunk seizure in Ondo

By: Michael Mike

Three weeks after escaping arrest at his home in Anguwan Makera, Kuta, Shiroro local government area of Niger state, a notorious supplier of illicit drugs to bandits operating in the area, 33-year-old Mohammed Sani (alias Gamboli) has been arrested by operatives of the National Drug Law Enforcement Agency (NDLEA) at his hideout.

Spokesman of anti-narcotics agency, Femi Babafemi, in a press statement on Sunday said the arrest of Gamboli followed credible intelligence about his illicit drug activities. He said NDLEA operatives had on 20th November 2025 raided his house at Anguwan Makera, Kuta, where they recovered 471.8 kilogrammes of skunk, a strain of cannabis. Though he escaped arrest during the raid and has since been in hiding, the manhunt for him eventually paid off last Thursday when NDLEA officers acting on processed intelligence traced and arrested him at one of his drug joints in Anguwan Fadama, Kuta.

Babafemi said intelligence reports had indicated that Gamboli is a major supplier of illicit drugs to bandits operating in Shiroro local government area.

The spokesman said NDLEA officers in Abia last Thursday raided a clandestine codeine syrup-manufacturing factory at Amapu Igbengwo village, Umuakpara, in Osisioma local government area of the state. During the operation, operatives recovered a total of 9,015 bottles of codeine syrup weighing 1,152.2 kilogrammes.

In Enugu state, operatives last Thursday arrested Ossai Emeka, 45, along Onitsha – Enugu Ezike road with 7.2 kilogrammes skunk, while Enoje Agada, 40, was nabbed along Enugu-Ezike -Ette road with 94.6 kilogrammes of same psychoactive substance.

A raid carried out by NDLEA operatives at a notorious drug joint known as “Beere the California” at Ido in Oyo state last Thursday led to the seizure of 3.4 kilogrammes skunk, 1.6 kilogrammes Colorado, a synthetic cannabis and 400 grammes of methamphetamine. Babafemi said the owner of the drug joint identified as “Idowu the killer” is currently at large while a suspect Ajibade Faruk was nabbed at the joint.

Another operation at Idi Oro, Elekuro, Ibadan last Friday led to the arrest of Olusanya Abosede, 35, and the seizure of 238.4 kilogrammes skunk, while the duo of Bashiru Babalola, 43, and Ogunwale Ranti, 50, were arrested last Wednesday at Gbaji checkpoint, Seme road Badagry, Lagos with 50,000 pills of tramadol 250mg,

NDLEA operatives in Ogun state arrested two suspects: Akinwale Makanjuola and Joseph Owolabi with 73 kilogrammes skunk at Iperu just as another suspect Wasiu Lateef was nabbed with 25 kilogrammes of same substance at Oke Agbede, Imeko area of the state last Tuesday. In Ondo state, NDLEA officers acting on credible intelligence last Monday raided a compound in Ogbese, Akure North local government area, where they arrested a 55-year-old woman Veronica Obi and her 29-year-old son Bright Obi, and recovered 1,187 kilogrammes of skunk and its seeds from them.

A suspect Ohiomah Igbafe, 44, was arrested during a raid operation at Uroe community, Owan East local government area of Edo state, where 461 kilogrammes skunk and its seeds were recovered last Tuesday.

In Gombe state, a suspect Muhammed Sani (alias Sha-Mu-Sha), 50, was arrested with 40,000 capsules of tramadol at Tunfure area, Gombe, while two other suspects: Muhammad Abdullahi (a.k.a Sakalala), 52, and Muhammed Hamza (a.k.a Mamman), 32, were nabbed at Ashaka Jalingo, with 56 kilogrammes skunk last Monday.

Babafemi said no fewer than 907 pills of tramadol, tapentadol, cocodamol, amitriptyline and bromazepam concealed in containers of local black soap, and designer wears, in six different consignments going to the US, Canada and Sweden were intercepted and seized by NDLEA operatives at two major courier companies in Lagos between Tuesday and Wednesday, last week.

At the Apapa seaport in Lagos, NDLEA officers on Saturday intercepted a consignment of 170,000 bottles of codeine syrup weighing 23,579 kilogrammes during a joint examination of a container with men of Customs Service and other security agencies.

He said in like manner, commands and formations of the agency across the country continued their War Against Drug Abuse, WADA, sensitization activities to schools, worship centres, work places and communities among others in the past week.

Meanwhile, the Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Buba Marwa (rtd), while commending the officers and men of DOGI, Niger, Abia, Oyo, Enugu, Seme, Ogun, Ondo, Gombe, Apapa and Edo commands for the arrests, seizures and their dexterity, enjoined them and their colleagues across the country to continue with the ongoing balanced approach to the drug control efforts of the agency.

Fleeing bandits’ drug supplier ‘Gamboli’ arrested in Niger

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NUJ Calls for Collaboration to Realize Affordable House for Journalists

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NUJ Calls for Collaboration to Realize Affordable House for Journalists

By: Michael Mike

The Nigeria Union of Journalists (NUJ), Federal Capital Territory (FCT) Congress
has renewed its call for stronger collaboration with government and housing finance institutions to improve access to decent housing for journalists, as stakeholders gathered for the 2025 Housing Industry End-of-Year Dinner and the 17th Africa Housing Awards in Abuja.

Speaking at the event, the NUJ FCT Chairman, Grace Ike praised the organisers for sustaining a platform that brings together policy makers, financiers, housing professionals and the media to address Nigeria’s housing challenges.

Ike, while giving special commendation to the Chief Executive Officer of Housing TV Show, Barrister Festus Adebayo, for his consistent advocacy for affordable housing and his support for journalism through media-focused housing conversations, asked for collaborations to get affordable houses for journalists practicing in Abuja

Ike, who acknowledged the presence of key government officials, including the Minister of Housing and Urban Development, the Minister of Finance, the Minister of Housing from Namibia, and the Managing Director of the Federal Mortgage Bank of Nigeria at the award ceremony, described the gathering as a rare convergence of decision-makers capable of translating policy into impact.

She noted that platforms such as Housing TV Show have amplified journalists’ voices on housing issues, while also helping to shape public understanding of affordable housing policies. She described journalists as partners in national development whose work helps strengthen transparency, accountability and social stability.

During the event, NUJ FCT Chairman announced the rebranding of the Union’s internal projects aimed at expanding housing advocacy, media empowerment and strategic partnerships. According to her, the rebranding is designed to position journalists for greater participation in housing initiatives and to attract collaboration from government agencies, financial institutions and private developers.

A major highlight of the address was a renewed appeal to the Minister of Housing and Urban Development to fulfil the promise of a Journalists’ Village, a proposed housing scheme aimed at providing journalists in the FCT with stable and affordable homes.

She said the project would not only improve journalists’ welfare but also strengthen ethical reporting and peace-building by giving media professionals greater personal security.

She expressed optimism that with the support of the Federal Mortgage Bank of Nigeria, the proposed housing project could become a reality by 2026.

She appealed to journalists to unite behind the initiative and work closely with policy makers and financiers to turn commitments into completed housing units.

The evening ended on a note of optimism, with speakers stressing that collaboration between government, the private sector and the media remains critical to addressing Nigeria’s housing needs and building a more inclusive future.

NUJ Calls for Collaboration to Realize Affordable House for Journalists

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