News
Fresh squabbles rock First Bank’s board, threaten recapitilisation
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
News
River guard killed in Yobe, police begin investigation
River guard killed in Yobe, police begin investigation
By: Zagazola Makama
A 40-year-old man, Musa Mohammed, has died after being allegedly attacked and thrown into a river by unknown assailants in Bursari Local Government Area of Yobe State.
Residents of Girim Village, Ya’u Gambo and Adamu Muhammad, told Zagazola Makama that the incident occurred at about 8:00 a.m. on Jan. 19, when the victim, who was employed to guard the village river, was confronted by some unidentified persons.
They said the attackers forcefully held Musa Mohammed, tied his hands and legs, and threw him into the river.
The sources added that about a month earlier, the deceased had a misunderstanding with five men from Dadigar Village in Bursari LGA, who allegedly warned him to stop guarding the river or face consequences.
Upon receiving the report, security operatives visited the scene and evacuated the victim from the river in an unconscious state.
“He was rushed to the Specialist Hospital in Gashua, where a medical doctor later confirmed him dead,” the sources said.
Photographs of the deceased were taken, and his remains were released to his relatives for burial according to Islamic rites.
Musa Mohammed was from Burburwa Village via Mayori in Yusufari Local Government Area of the state.
Investigation into the incident has commenced to identify and apprehend those responsible for the killing.
River guard killed in Yobe, police begin investigation
News
At least 31 killed in Yatakala attack in Niger Republic
At least 31 killed in Yatakala attack in Niger Republic
By: Zagazola Makama
No fewer than 31 persons have been killed following a deadly attack by suspected terrorists in Yatakala, Tillaberi Region of the Republic of Niger, near the tri-border area with Mali and Burkina Faso.
Sources told Zagazola Makama that the attack occurred on Jan. 18 in the Yatakala/Bolsi area of Tera Commune, where the assailants reportedly gathered residents together and opened fire on them.
The sources said that several other people, believed to be mostly women, were abducted during the attack, while five persons were injured as they tried to escape.
“They went from house to house, rounded people up and shot them. Those who managed to flee sustained injuries.
“Residents were rounded up and summarily executed, while an uncertain number mostly women, were abducted. At least 31 people were killed and five others injured as they fled,”one of the sources said.
The sources noted that Yatakala and surrounding villages toward the Burkinabe border had already been deserted by many inhabitants due to persistent attacks by armed groups.
No organisation had formally claimed responsibility for the latest atrocity, but the pattern and area of operation point strongly to Jama’at Nusrat al-Islam wal-Muslimin (JNIM), the Al-Qaeda-linked group active across the Liptako-Gourma axis
The area had previously come under attack on Jan. 3, 2026, when Yatakala/Garoul was assaulted and about 17 soldiers were reportedly killed.
Zagazola report that the Tillaberi theatre is under sustained pressure. The enemy appears intent on clearing large swathes of territory, forcing communities to abandon their homes and creating humanitarian corridors of displacement that terrorists then exploit for further expansion.
The attacks also draws to the attention of the accelerating expansion of jihadist violence across the Sahel and its dangerous spillover implications for Nigeria and the wider West African sub-region.
The attack fits into a broader campaign by both Al-Qaeda- and ISIS-aligned factions to dominate borderlands, forest reserves and riverine routes, particularly around the W Park–Panjari complex, with a creeping approach toward Niamey.
The strategic objective was to degrade state presence, terrorise civilians into flight, and establish uncontested movement and recruitment zones.
Its draws parallels with past atrocities, including the January 2025 killings in Kasuwan Daji in Borgu area of Niger State, allegedly carried out by JNIM in collaboration with JAS/Ansaru networks, as well as recent mass abductions at worship centres in Kurmin Wali, Kajuru LGA, Kaduna State.
These are not isolated incidents. They form part of a synchronised regional campaign aimed at destabilisation, psychological dominance and narrative warfare.
Zagazola warned that beyond the kinetic dimension, insurgents were also leveraging disinformation, including the manipulation of religious and ethnic narratives, to internationalise their cause and weaken regional cohesion.
The humanitarian crisis generated by these attacks will push refugees and internally displaced persons toward north-west and north-central Nigeria, with attendant security, social and economic consequences.
Therefore, Nigeria’s response must go beyond internal counter-terrorism operations to include strengthened diplomatic and security cooperation with Niger, Benin and other frontline states.
Border challenges cannot be curbed unilaterally. There must be deeper intelligence sharing, coordinated patrols and joint operations. ECOWAS and the Alliance of Sahel States (AES) must urgently re-engage on collective security mechanisms to contain this expanding threat,” he said.
Yatakala massacre was both a warning and a call to action.
If proactive regional measures are not taken, the Sahelian conflict arc will continue to bend southward, with Nigeria increasingly in the line of fire.
At least 31 killed in Yatakala attack in Niger Republic
News
School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC
School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC
Some students from the Special Education Centre in Gombe, have commended the Gombe State Government, and the North East Development Commission (NEDC), over ongoing renovation of their school.
The students told the News Agency of Nigeria (NAN) in Gombe, that the move would boost access to education for Persons With Disabilities (PWDs).
A NAN correspondent who visited the school, reports that there was ongoing renovation of facilities.
A visually impaired student of the Senior Secondary three class (SS3), Husseini Abubakar, said that the renovation sends a strong message of inclusion to them.
According to him, the ongoing upgrade of the school has renewed their hope in education and a better Nigeria, as emphasised by President Bola Tinubu.
“I was suprised to hear that our school is being renovated after many years of neglect.
“We had lost hope of any intervention, but see what Gombe State government and NEDC are doing; we lack words to express how we feel.
“Today, I feel that our President, Bola Tinubu’s statement of “let’s renew the hope” is being fulfilled in our school because our hope has indeed been renewed,” he said.
Another visually impaired student, Mr Ahmad Umar, noted that they use to share classrooms with junior students during the rainy season, following dilapidated classrooms.
“Some days, we prayed against rainfall so that we will not be beaten by the rain, but thank God the suffering has now ended, and a better structure is here,” he said.
He said that now, he feels relieved.
Another student with hearing disability, Mr Basesa David, who spoke through an interpreter, said he was happy that the days of cold were over
He noted that the rehabilitation of toilets facilities and regular water supply, would improve hygiene and health condition in the school.
“We are grateful, especially the female students who usually suffer severe cold from exposure and poor toilets; thank you Gov. Inuwa Yahaya of Gombe State and the entire leadership of NEDC,” he said
NAN reports that the school, a specialised institution in the state, was established in 1996, to cater for children with disabilities.
The renovation project, is aimed at improving access to inclusive, equitable and quality education for PWDs, who are learners in the state and the North-East.
The centre currently has a population of 615 students
School renovation: You’ve renewed our hope, Students with disabilities tell Gombe Govt, NEDC
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