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
Military
Military airstrikes eliminate scores of ISWAP terrorists in Borno operations
Military airstrikes eliminate scores of ISWAP terrorists in Borno operations
By: Zagazola Makama
Precision air interdiction missions conducted by the Nigerian Air Force component of Operation HADIN KAI have eliminated scores of ISWAP terrorists in separate coordinated strikes at Kangarwa and Ali Jilamari areas of the Northern Tumbuns in Borno State.
Military sources told Zagazola Makama that the operations were executed on April 1, following credible intelligence and confirmatory Intelligence, Surveillance and Reconnaissance (ISR) missions.
The source said the first strike was carried out at about 12:05 p.m. on ISWAP enclaves in Kangarwa, a known terrorist stronghold, after ISR conducted on March 27 confirmed mass movement of fighters within the location.
According to him, airborne surveillance identified multiple terrorists operating around and inside structures within the enclave before precision munitions were delivered in successive attack passes.
He said the targeted structures were completely destroyed, with scores terrorists neutralised in the strike, while others scampered for safety in different direction.
In a separate operation at about 4:45 p.m. the same day, the air component conducted another interdiction mission at Ali Jilamari, described as a newly established terrorist hideout in the Northern Tumbuns.
The source said the mission followed credible human intelligence and ISR confirmation, which revealed active terrorist logistics hubs and structures within the area.
He added that the air platforms engaged the targets with precision strikes, destroying identified structures and logistics hubs while eliminating additional terrorists.
The source described the operations as part of sustained air offensives aimed at degrading terrorist capabilities and denying them freedom of movement in the Lake Chad Basin.
Military airstrikes eliminate scores of ISWAP terrorists in Borno operations
News
VeryBlackDarkMan denies inciting violence in plateau, gives detailed defence of viral comments
VeryBlackDarkMan denies inciting violence in plateau, gives detailed defence of viral comments
By: Zagazola Makama
Popular social media personality, Martins Vincent Otse, also known as VeryBlackDarkMan, has issued a detailed response to allegations that he incited violence during the recent unrest in Plateau, insisting that his remarks were taken out of context and misrepresented.
The controversy followed a viral video in which Otse, reacting to the March 29 attack in Angwan Rukuba, made statements that critics interpreted as a call to violence.
Otse urged residents not to rely on government intervention, saying: “If you keep quiet and wait for the government… it won’t be the first time, it won’t be the second time… when does this stop? You promise us security, but nobody is secure!”
The content creator also appeared to call for a shift from passive reactions to active confrontation, stating: “No be only Boko Haram sabi kill, no be only bandit sabi kill. All of us fit kill… all of us na Killers, until you ready. No ever to say you no get the mind. You fit kill person. You can kill people. And for these people oh my God.
He added: “Please protect yourselves and don’t wait for the government.”
He further called on the “To the people of Rukuba Enough is Enough, Enough is Enough. Anybody wey you see wey cross your part, KILL AM
However, few hour’s after his emotional outbursts violence quickly began to spread in the Northern part of Plateau. The same night, some youths of Rukuba went on rampage and began targeted killings especially in the Muslim communities.
The remarks triggered widespread backlash, with some commentators accusing him of encouraging reprisals and fuelling religious tension.
However, in a follow-up video, Otse strongly refuted the allegations, maintaining that he never called for violence against any religious group. “Where did I ever say Christians should kill Muslims? When? Show me where I said that,” he said, visibly angered by the accusations.
Providing context to his earlier comments, Otse explained that his reaction was shaped by the traumatic experience of witnessing the aftermath of the killings in Jos.
“I was standing in the middle of dead bodies. Pregnant women, fathers, mothers, children… over 20 people lying there. This is not the first time I have seen something like that. What do you expect me to say in that moment?” he said.
According to him, his statements were an emotional outburst driven by frustration over repeated violence and what he described as inadequate response by authorities.
“The government is not doing anything. People are being killed again and again. So what do you want me to say?” he asked.
Otse clarified that his intention was to urge communities to be vigilant and protect themselves, not to attack others.
“I only said people should protect themselves. I said if you see suspicious movement, defend yourself. That is not the same as telling people to kill others,” he said.
He argued that his words were deliberately twisted to create a false narrative portraying him as promoting religious violence.
“This narrative that VeryDarkMan told Christians to kill Muslims is false. Completely false. People are taking my words out of context and trying to push an agenda,” he said.
The influencer also rejected attempts to frame him as biased against Muslims, noting that he has consistently spoken about violence affecting all Nigerians regardless of religion.
“You can’t say it is only Christians that are dying. Muslims are dying too. People are dying everywhere in this country,” he said.
He cited past incidents in the North-East, including attacks in Borno, to support his argument that insecurity cuts across religious and regional lines.
“Where were these people when bombs exploded in Borno? Monday Market, Post Office junction… people died. Did they speak then?” he queried.
Otse said he had personally visited affected areas, including Borno, to raise awareness and support victims, adding that his advocacy has never been selective.
“I have gone to Borno. I have gone to places where disasters happened, even floods. I have used my platform to raise awareness and help people. This is not about religion for me,” he said.
He further criticised what he described as selective outrage by some social media users and commentators.
“Some people are now acting like they care more about Muslims or Christians, but where were they when others were suffering? Show me what you have done,” he said.
Addressing the broader issue, Otse warned against the growing trend of framing security challenges along religious lines, stressing that such narratives are dangerous.
“Say no to religious war. This is not about Christianity or Islam. This is about Nigerians being killed,” he said.
He emphasised that he does not align himself with any religious divide, insisting that his position has always been neutral.
“I am not speaking for Christians or Muslims. I am speaking for people. I don’t care about religion when it comes to human lives,” he added.
Otse also highlighted what he described as a lack of awareness about the scale of violence in northern Nigeria, attributing it partly to limited social media visibility.
“A lot of people don’t even know what is happening in the North. They don’t see it, so they think it is one-sided. But the reality is different,” he said.
He urged Nigerians to avoid generalisations and stereotyping, warning that such tendencies contribute to division and misunderstanding.
The influencer reiterated his call for unity and collective action against insecurity, rather than blame and division.
“We need peace in Jos. We need peace everywhere. People should stop pushing narratives that will divide us further,” he said.
The incident illustrated the powerful role of social media in shaping public discourse during crises, as well as the risks associated with emotionally charged messaging.
While Otse’s initial comments reflected widespread frustration, the backlash point to the need for caution and clarity in public communication, especially in fragile security environments.
VeryBlackDarkMan denies inciting violence in plateau, gives detailed defence of viral comments
News
Troops neutralise eight terrorists in failed ambush operation in Borno
Troops neutralise eight terrorists in failed ambush operation in Borno
By: Zagazola Makama
Troops of 21 Special Armoured Brigade (21 SAB), in collaboration with Civilian Joint Task Force (CJTF) and hybrid forces, have neutralised eight suspected terrorists during an ambush operation in Bama Local Government Area of Borno.
A military source told Zagazola Makama that the operation was carried out at about 2:06 a.m. on April 1 around the Gadangari axis, behind Government Girls Secondary School (GGSS), Bama.
The source said the troops conducted a planned ambush targeting suspected Boko Haram terrorists and their logistics collaborators operating around the area.
“While lying in wait, the troops intercepted terrorists’ collaborators and logistics suppliers moving towards Yale axis,” the source said.
He added that the troops engaged the targets in a brief exchange of fire, resulting in the neutralisation of eight terrorists, while others escaped with possible gunshot wounds.
The source further noted that follow-up operations were ongoing to track fleeing elements and dismantle their logistics networks in the area.
He assured that the situation remained under control, with troops maintaining aggressive posture in the general area.
Troops neutralise eight terrorists in failed ambush operation in Borno
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News12 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
