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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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Plateau government finally admits attack on Fulani traders when suddenly silence is no longer an option

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Plateau government finally admits attack on Fulani traders when suddenly silence is no longer an option

By: Zagazola Makama

Something rather unusual happened in Plateau today. The Plateau State Government actually condemned an attack on Fulani traders.

Yes, Fulani traders, although the official statement carefully introduced them as simply “traders,” perhaps because mentioning the word Fulani might make the incident slightly more uncomfortable for some people.

The attack on traders returning from the Kara Livestock Market in Bukuru left one person dead and seven others injured after their vehicle came under gunfire.

The government’s reaction is welcome. But it also leaves one wondering: Why does the government seem to become more interested in an attack only after it has become impossible to pretend it did not happen?

For years, the public has watched a familiar script unfold. An attack happens. Nobody wants to talk too much about it. Then there is a reprisal. Suddenly, the state becomes extremely concerned, press statements appear. Condolences are issued. The Governor personally visits the scene and tells them, “Nobody can take over your land,” while security agencies are urged to act. And the reprisal becomes the headline.

The government’s statement referred to the victims as “traders.” Nothing wrong with that, technically. But everyone knows who these particular traders were. They were peaceful Fulani pastoralists returning from a livestock market. So why the linguistic gymnastics? Is “Fulani” now one of those dangerous words that must be handled with protective gloves? If the victims had been identified as members of the Berom or Mwaghavul community, would their identity have been equally inconvenient?

And there’s this funny thing about the information ecosystem and propaganda platforms in Plateau. When the incident occurred, many Plateau-based platforms were quick to circulate claims pointing accusing fingers at Fulani militia attacking locals, with some calling for quick intervention. Then the narrative was convenient.

But when subsequent information reportedly pointed in another direction, including allegations involving suspected Berom militia, the same enthusiasm disappeared. The microphones became silent. And, rather mysteriously, the internet developed a severe case of selective mutism. The same platforms that had been shouting suddenly discovered the beauty of silence. The headlines vanished. The outrage suddenly lost its urgency. They pretended not to see the attack again. Why? Because the victims are Fulani.

Apparently, when the suspected attacker is Fulani, everyone becomes an investigative journalist. When the allegation points elsewhere, everyone suddenly remembers the importance of waiting for security agencies to investigate.
It is almost as if somebody is waiting for the second half of the tragedy because it fits the preferred narrative better.

Of course, there is another subject that nobody seems particularly enthusiastic about discussing: “cattle rustling”. And somehow, the subject continues to receive considerably less attention from government of Plateau state. On a daily basis, hundreds of livestock are allegedly stolen from Fulani herders in Plateau by militia groups. Hundreds of others are killed on a daily basis.

And here is the script: “You attack a pastoralist, steal his cattle, destroy his livelihood and then act surprised when the community becomes angry and carries out a reprisal. You then subsequently use the anger generated by that crime as proof that the original victim was the aggressor.” You will even hear some of the youth leaders always saying, “Just because they kill their cows, does that give him the right to attack us?” Let’s simply rearrange the chronology of the crimes in Plateau. If a Fulani person commits a crime today, he must face the law and pay heavy compensation. Infact, the Governor had issued a directive that any herder caught destroying farmland should be nutrialised.

But on the contrary, If a Berom person or any plateau local commits a crime by attacking a Fulani and killing their livestock, the next day, women will protest his arrest and demand that he must be released. In fact, the new name for criminals in Berom communities is “Defenders of the Land.”

At the same time, if a Mwaghavul person commits a crime, he must not face the law. And if any journalist should carry the report like Zagazola, ahh, that one is the spokesperson of the bandits. In this context, who are the bandits?
The innocent people that suffered the initial attack that led to the arrest of the Mwaghavul militia. In many Plateau communities, criminality means patriotism because the criminal belongs to the Berom ethnic group.

The government’s condemnation of the Bukuru attack is therefore welcome. But condemnation alone is not enough. If they really want to end this madness, they must also identify the attackers and take them out. They must expose anyone financing violence through stolen livestock or other criminal proceeds.

Most importantly, the government must resist the temptation to treat justice as a popularity contest. The question should never be, “Which community do we want to defend?”

Because if the state continues to condemn only the violence that fits its preferred narrative, then everybody will eventually become an expert at playing victim while the criminals quietly continue doing business.

Plateau government finally admits attack on Fulani traders when suddenly silence is no longer an option

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Police invite NDC candidate over alleged display of firearm at political gathering

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Police invite NDC candidate over alleged display of firearm at political gathering

By: Zagazola Makama

KANO — The Kano State Police Command has invited the New Nigeria Democratic Congress (NDC) candidate, Hon. Aminu Abdullahi Warkal, for questioning over an alleged display of a firearm during a political gathering.

The command disclosed this in a statement issued by its spokesperson, CSP Abdullahi Haruna Kiyawa, on Monday, Oct. 5, 2026.

According to the statement, the command came across a video circulating on social media during its routine cyber patrol, in which Warkal was allegedly seen displaying what appeared to be a pump-action firearm.

The police said the allegation, if established, could constitute a violation of the Firearms Act and raise public-safety concerns, particularly in the context of political activities.

The command said Warkal was invited to its headquarters in Bompai, Kano, on the directive of the Commissioner of Police, CP Ibrahim Adamu Bakori.

The candidate is currently with the command’s State Intelligence Department (SID), where questioning and investigation into the circumstances surrounding the alleged display are ongoing.

The Commissioner of Police warned that the command would not tolerate unlawful conduct, violence or the display of weapons in ways capable of causing fear or threatening public peace, irrespective of the status of the person involved.

He urged political candidates, supporters and other stakeholders to conduct their activities peacefully and in accordance with the Electoral Act, firearms laws and other applicable legislation.

The command also reiterated its commitment to protecting lives and property and maintaining peace in Kano State before, during and after the political season.

The police have not indicated the outcome of the investigation, and the allegation against Warkal remains subject to the ongoing inquiry.

Police invite NDC candidate over alleged display of firearm at political gathering

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Suspected Mwaghavul Militia Attack on Herders Reported in Mangu, Cattle Shot in Plateau

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Suspected Mwaghavul Militia Attack on Herders Reported in Mangu, Cattle Shot in Plateau

By: Zagazola Makama

Suspected armed Mwaghavul militia members have reportedly attacked herders around Kombilin in Panyam District of Mangu Local Government Area of Plateau State, shooting an unspecified number of cattle.

Security sources told Zagazola Makama that the incident occurred at about 4:30 p.m. on Sunday, Oct. 4, 2026.

Preliminary reports indicated that the assailants, suspected to be members of a Mwaghavul militia group, targeted herders in the area and opened fire on their cattle.

The exact number of cattle killed or injured in the incident had yet to be established as details were still emerging.

The circumstances surrounding the attack, including whether any persons were injured or killed, remained unclear at the time of reporting.
Further details are being awaited as efforts continue to establish the full circumstances of the incident.

Suspected Mwaghavul Militia Attack on Herders Reported in Mangu, Cattle Shot in Plateau

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