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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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ECOWAS Unveils Comprehensive Digital Ecosystem for Gender Development at Regional Workshop in Senegal

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ECOWAS Unveils Comprehensive Digital Ecosystem for Gender Development at Regional Workshop in Senegal

By: Michael Mike

The Economic Community of West African States (ECOWAS) has launched a new Digital Ecosystem for the ECOWAS Centre for Gender Development (CCDG), marking a major step toward improving regional data management and collaboration on gender equality.

The unveiling took place during a five-day regional capacity-building workshop holding from 24 to 28 November 2025 in Saly, Senegal.

The workshop, convened under the supervision of the ECOWAS Commissioner for Human Development and Social Affairs, brought together gender experts, national focal points, technical staff of the ECOWAS Commission, and representatives of partner organisations.

The newly launched CCDG Digital Ecosystem comprises five interconnected platforms: the CCDG website, the ECOWAS Gender Equality Observatory (ECOGO), a virtual workspace, an artificial-intelligence–powered support system and the CCDG web security command centre.

According to officials, the digital system is designed to simplify real-time data collection, improve reporting consistency across Member States, and strengthen joint action on gender initiatives throughout the region.

By the end of the workshop, the Digital Ecosystem is expected to become fully institutionalised, enabling ECOWAS Member States and the Commission to use the platforms for more accurate monitoring, evidence-based policymaking, and more effective coordination of gender-related programmes.

Participants included CCDG Gender Focal Points from all ECOWAS Member States, personnel from ECOWAS institutions and agencies, national teams of the “50 Million African Women Speak” initiative, members of the Community of Practice on Gender and Climate Change, civil society organisations, development partners, and media representatives.

Facilitators emphasised that the launch is not only a technological advancement but also a strategic investment in strengthening gender governance across West Africa.

The Economic Community of West African States was established in 1975 with the signing of the Treaty of Lagos by 15 West African Heads of State and Government, with the goal of promoting economic integration and cooperation across the region. Cabo Verde joined in 1977, while Mauritania—initially a founding member—withdrew in 2000 and later signed an associate membership agreement in 2017.
On 29 January 2025, Burkina Faso, Mali and Niger formally exited the bloc.

Current ECOWAS Member States include: Benin, Cabo Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Nigeria, Sierra Leone, Senegal, and Togo.

Recognised as one of the building blocks of the African Economic Community, ECOWAS aims to promote collective self-sufficiency, strengthen trade integration, and eliminate barriers to regional unity. Its work spans multiple sectors including industry, transport, telecommunications, agriculture, energy, natural resources, finance, and social development.

The ECOWAS Secretariat was restructured into a Commission in 2007, headed by a President and supported by a Vice President, Commissioners, and an Auditor-General. The organisation’s budget is sustained largely through the Community Levy—a 0.5% charge on imports from non-ECOWAS countries.

Ongoing reforms and programmes are geared toward achieving ECOWAS’ long-term transformation agenda: transitioning from an “ECOWAS of States” to an “ECOWAS of the People: Peace and Prosperity for All” by 2050.
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New scandal rocks Yobe NSCDC as herder alleges multi-million naira extortion by Agro Rangers Commander

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New scandal rocks Yobe NSCDC as herder alleges multi-million naira extortion by Agro Rangers Commander

By: Zagazola Makama

A fresh storm is sweeping through the Yobe State Command of the Nigeria Security and Civil Defence Corps (NSCDC), following explosive allegations by a livestock owner who says senior Agro Ranger officers unlawfully detained, extorted, and converted his animals for personal use.

The victim, Alhaji Ardo Dan Karami, a respected pastoralist from Kumari Village in Damaturu LGA, is accusing Assistant Commandant Ahmed Isa Michika, head of the NSCDC Agro Rangers Unit in Yobe, and his team of perpetrating what he describes as “daylight robbery under the cover of uniform”.

This latest scandal comes barely months after the NSCDC Command in Yobe was mired in a major corruption case involving the escort of vandalised and stolen railway materials, a development that led to the removal of the then State Commandant.

According to a petition filed by Dan Karami through his lawyer, the ordeal began on Oct. 18, 2025, when Agro Rangers personnel stormed his home in his absence and arrested 340 cows and 18 sheep, accusing them of destroying a farm. The animals were transported to Damaturu, but what followed, according to the victim, “was nothing short of criminality”.

The officers allegedly slaughtered one of the sheep claiming it had a fracture but refused to hand over the carcass to its owner. Even more troubling, three cows were reportedly loaded into their official Hilux vehicle, never to be seen again.

Later, one of the missing cows, which was heavily pregnant at the time of arrest, was discovered to have delivered and died in custody at the Damaturu Pilgrims Camp under the NSCDC’s watch. The remaining two cows are still missing. The petition states that before the officers agreed to even “open the case”, they demanded ₦250,000 from the victim.

After admitting to holding the livestock, the officers then compelled the herdsman to pay ₦2,000,000 as “compensation” for alleged farm damage, despite no court process, no assessment, and no verification of the claim.

But the extortion allegedly did not end there.
The officers reportedly charged ₦3,000 per cow as “bail money” for 300 cows, amounting to close to another ₦900,000. In essence, the victim was allegedly forced to pay: 250,000 “case opening fee”,2,000,000 “compensation” and 900,000 “bail fees” for the cows, bringing total alleged extortion to ₦3,150,000.

After these payments, only 340 cows and two sheep were released. However, 15 sheep, one ram, one slaughtered sheep, and two cows remain unaccounted for, animals the victim values at ₦6.25 million.

When senior authorities from Yobe Sate Government confronted Assistant Commandant Michika and his deputy over the matter, they were forced to refund ₦900,000.
But rather than admit the full amount collected, they allegedly claimed they took only ₦800,000, and said they had already spent ₦50,000 from it. Despite being caught in this contradiction, no known disciplinary action has yet been taken.

This is not the first time that the NSCDC Yobe Command has found itself entangled in accusations of corruption and criminal collusion.
On July 8, 2025, troops of Operation Hadin Kai intercepted a truck loaded with vandalised railway iron sleepers along with a shiny NSCDC-marked Hilux van escorting the stolen materials. Inside the vehicle were five NSCDC officers, They were escorting the loot.

A total of ₦128,500 in bribe money was found stuffed inside the inner clothing of one of the officers. The scandal was so damning that it triggered the removal of the State Commandant.

In community pushed to the brink and region still plagued by insecurity, such actions by security personnel could worsen tensions.

Beyond the financial loss and personal trauma, the victim’s lawyer warns that the actions of the NSCDC officers carry serious security implications for Yobe State and the entire North-East.

In the petition, the counsel stressed that incidents of extortion, illegal seizure of livestock, and abuse of pastoral communities are not isolated misdemeanours — they are triggers of insecurity.

“Acts of injustice like this, if not swiftly addressed, are capable of escalating into full-blown security crises,” the petition warned.

The lawyer cited examples from Zamfara, Katsina, Sokoto, and parts of Niger and Kaduna States, where years of unchecked harassment, extortion, illegal arrests, and exploitation of Fulani pastoralists by certain security operatives and local vigilantes eventually contributed to the rise of banditry.

New scandal rocks Yobe NSCDC as herder alleges multi-million naira extortion by Agro Rangers Commander

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Troops repel ISWAP attack near Kareto, recover rifles

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Troops repel ISWAP attack near Kareto, recover rifles

By: Zagazola Makama

Troops of the Nigerian Army, Operation HADIN KAI have repelled an attempted ambush by ISWAP fighters near Wakilti village, close to Kareto in Borno State, recovering two motorcycles and an AK-47 rifle from the fleeing terrorists.

Zagazola Makama learnt from reliable sources that the encounter occurred on Monday at about 1:30 p.m., when troops of 145 Battalion (Main) on Main Supply Route (MSR) patrol and piquetting duties, operating in conjunction with Keystone operatives and members of the Civilian Joint Task Force (CJTF), made contact with the insurgents around Wakilti.

The sources said that the troops engaged the terrorists in a heavy firefight, forcing them to retreat in disarray after coming under superior firepower.

According to the source, the soldiers pursued the fleeing fighters but made no further contact.

“During exploitation of the scene, troops recovered two motorcycles, one AK-47 rifle fitted with a magazine. The enemy casualty figure is still unconfirmed,” the source said.

A reinforcement team from Operation HADIN KAI later linked up with the patrol team and dominated the route to prevent further infiltration.

The source said that there was no casualty recorded on the side of the troops.

The sources further added that the Army has intensified Operation Desert Sanity IV under Operation Hadin Kai, with increased surveillance and patrols aimed at denying terrorists freedom of movement around critical routes and communities.

Troops repel ISWAP attack near Kareto, recover rifles

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