Access Bank, sub-Saharan Africa’s largest bank by customer base, has shared insights about ambitious plans to position its UK subsidiary, Access Bank UK, among the top 20 banks in the United Kingdom, targeting an annual profit of $1 billion by 2027.
The Managing Director/Chief Executive Officer of Access Bank, Roosevelt Ogbonna stated this during the “Facts Behind the Rights Issue” presentation held at the Nigerian Exchange (NGX) office in Lagos.
Ogbonna emphasised that this projection underscores Access Bank’s commitment to becoming a global banking leader, focusing on expansive growth and robust financial performance.
“We are positioning ourselves to be one of the most respected banks globally. Our focus is on superior service across all the continents and countries we are operational in, and by 2027, we aim to be one of the top five African banks, powering trade across the continent and providing superior services to our customers” Ogbonna stated.
The CEO further highlighted that Access Bank’s customer base is expected to grow to 125 million by 2027, further cementing its market leadership.
“This ambitious growth plan is part of the broader strategy to drive organic growth through strategic acquisitions, partnerships with international banks, and substantial investments in infrastructure and technology. The insights were shared as part of discussions around Access Holdings’ ongoing Rights Issue, which aims to raise up to US$1.5 billion to strengthen its financial position and support its growth ambitions.
“The rights issue offers 17,772,612,811 ordinary shares at N19.75 per share and will close on August 14, 2024.The Fact Behind the Rights Issue was attended by the stockbrokers, shareholders, NGX management, Access Holdings’ executive and management, the media, amongst others.
The shareholders gave their vote of confidence in Access Holdings and Access Bank, and particularly, the Rights Issue. Bisi Bakare, National Coordinator, Pragmatic Shareholders Association of Nigeria, noted, “Since Access Bank first started trading on the stock exchange at N0.65, we shareholders have witnessed its incredible growth and accrued immense value, with the stock now trading at N19.35 as of June 9″.
The Ogun State Police Command has successfully apprehended the remaining five members of a notorious kidnapping and murder gang that has terrorized the Ijebu-Igbo axis of the state.
The arrests were announced by the Commissioner of Police, Abiodun Alamutu, during a press briefing at the State Headquarters in Abeokuta on Friday 9th August 2024.
The gang, responsible for multiple cases of kidnapping, murder, and armed robbery, was first partially exposed on July 29, 2024, when two of its members, Chukwuma Bartholomew and Igwe Monday, were arrested and confessed to their crimes. They led police operatives to a forest in Ijebu-Igbo, where the remains of their victims were discovered in a shallow grave. At that time, the police revealed that five other members of the gang were still at large.
In a significant breakthrough, CP Alamutu announced that all five fugitives have now been apprehended and have provided confessional statements. The police outlined the gang’s sophisticated and brutal methods, which have plagued the Ijebu-Igbo community for over a year.
The press briefing detailed several heinous crimes attributed to the gang, including:
July 28, 2023: Four armed men invaded the home of Raheem Azeez and his wife in the Ojowo area, robbing them of valuables. The gang also attacked another resident, Oluwaseun Oworu Samuel, who was shot and later died from his injuries.
October 2, 2023: The gang kidnapped 17-year-old Elizabeth Adeniran from her home in Egbe, Ijebu-Igbo, after extorting a ransom of N3.1 million. They later murdered her and disposed of her body in a well.
November 11, 2023: The gang targeted the home of the traditional ruler of Aparaki Ijebu, Professor Julius Niyi Benedict. They robbed the family, kidnapped the Professor’s wife, and demanded a ransom. Though she eventually escaped unharmed, the attack shocked the community.
November 23, 2023: The gang kidnapped Ogunyemi Femi, demanded a ransom, and then killed him, burying his body in a shallow grave in Japara Forest, Ijebu-Igbo.
February 27, 2024: The gang abducted Adedayo Kehinde Temitayo in Ijebu Ode and attempted to extort N10 million from his family. Though they left him to die in a well, he miraculously escaped.
March 12, 2024: The gang kidnapped and murdered Oladokun Bolanle in Awa Ijebu, after collecting a ransom from her family. Her body was also recovered from a shallow grave.
In total, the gang is linked to the deaths of multiple victims, including 17-year-old Elizabeth Adelaja Adeniran and Bolanle Oladokun.
The suspects, now in police custody, include Chukwuma Barthelomew, Igwe Monday Sunday, Ifeanyi Mathias, Anayo Simeon, Ayo Adedayo, Chibueze Odah, Ejiofor Nwali, Eke Peter, Monday Paul, and Chukwuma Zainab. Recovered items include a blue Tecno Camon phone and three expended cartridges.
CP Alamutu confirmed that the suspects will face charges and be prosecuted to the full extent of the law.
The partners of the e-RIGHTS project have expressed concern over the recent internet disruptions in Nigeria amidst the ongoing #EndBadGovernance protests.
The partners highlighted that Nigeria is a signatory to several regional and international human rights treaties, including the African Charter on Human and Peoples’ Rights, ACHPR, and the International Covenant on Civil and Political Rights, ICCPR.
According to them, these instruments guarantee the rights to freedom of expression, assembly, and association. Domestically, Chapter Four of the Nigerian Constitution enshrines these fundamental freedoms.
“The internet has become an indispensable tool for exercising these rights in the 21st century. By deliberately disrupting internet services, the Nigerian government is effectively silencing citizens, hindering their ability to access information, engage in public discourse and exercise their civic rights.
“We join civil society organizations (CSOs) in Nigeria to advocate against any form of internet disruption, shutdown or stifling of dissent. We urge the Nigerian government to cease all forms of internet disruptions and uphold the constitutional rights of its people”.
“This act is not unprecedented, the ECOWAS Court of Justice’s ruling against Nigeria following the Twitter ban sets a significant precedent, highlighting the unconstitutionality of these actions. The Court’s decision held that such bans and disruptions are illegal and violate the rights to freedom of expression and access to information”.
About e-RIGHTS
The e-RIGHTS project is aimed at enhancing digital rights in Nigeria and is being implemented by the Centre for Information Technology and Development, CITAD, Spaces for Change, S4C, and Lawyers without Borders.
Amo Byng Nig Limited has commenced a strategic partnership with the Kwara State Government to bolster local soybean production, addressing the current shortage that is impacting poultry feed production across Nigeria.
This collaboration was formally launched on July 16, 2024, and marks a significant step towards revitalizing the soybean industry. The soybean shortage has led to increased feed production costs for poultry farming, as much of Nigeria’s soybeans are being exported.
In response, Amo Byng Nig Ltd. is stepping in to support local farmers by providing essential farming inputs and committing to purchase the soybean at harvest. This initiative aims to stimulate local production, improve raw material availability, and reduce production costs.
As part of this pilot programme, Amo Byng Nig Ltd. has equipped 300 farmers with inputs to cultivate soybean across 1,500 hectares in the Kaiama Local Government Area of Kwara State. The programme encompasses four communities within the local government area. In support of this initiative, the Kwara State Government has allocated tractors to assist farmers with land preparation, enhancing the efficiency and effectiveness of the farming process.
Group Managing Director of Amo Byng Nig Ltd., Dr. Ayoola Oduntan, emphasized the importance of the partnership: “Addressing the soybean shortage is crucial for the poultry industry, as it directly impacts feed production. This partnership is vital for providing farmers with the necessary inputs and ensuring the purchase of their harvest. Our goal is to stimulate local production and alleviate the raw material shortage.”
Managing Director of Amo Byng Nig Ltd., Dr. Ayoola Belgore, highlighted the broader vision of the initiative: “While this pilot program marks a significant step forward, our vision extends beyond this initial phase. We are committed to expanding its reach and bringing its benefits to other states shortly.”
Head of Business at Amo Byng Nig Ltd., Mr. Adedamola Adeyeye, underscored the comprehensive support provided to farmers: “Alongside providing essential inputs, we are dedicated to offering technical support and training throughout the production period to ensure farmers are well-equipped for success.”
Kwara State Commissioner for Agriculture and Rural Development, Mrs. Oloruntoyosi Thomas, showed appreciation to the company and reaffirmed the state government’s commitment to supporting the project and local farmers.
The event also saw the presence of key stakeholders including Permanent Secretary of Kwara State Ministry of Agriculture, Mrs. Funke Sokoya, Coordinator of Farmers Group, Mr. Shuib Alawaye, and Kwara State Chairman of the Soybean Growers Association, Mr. Solomon Olawoyin.
First Bank has emerged as the winner of the prestigious Euromoney Award for Nigeria’s Best Bank in Environmental, Social, and Governance, ESG, reinforcing its position as a leader in sustainable banking and finance practices in its 130 years.
Following a rigorous and highly competitive selection process, FirstBank was awarded Nigeria’s Best Bank for ESG in 2024 by the respected and renowned Euromoney Awards for Excellence. This award honours FirstBank’s contributions and unwavering commitment to Environmental, Social, and Governance investments in Nigeria, facilitated through innovative financial solutions and initiatives.
Euromoney recognized FirstBank’s significant progress amongst other areas in the implementation of an ESG management system, which facilitated the screening of N4.2 trillion new transactions for potential ESG risks in 2024. In support of Nigeria’s green transition, FirstBank funded a $10 million solar energy project, expanding access to off-grid solar solutions in Africa and Asia through a pay-as-you-go model; committing N16 billion to develop four modular independent power plants for a major beer manufacturer, enabling it to shift from diesel generators to more sustainable energy sources and significantly reducing production costs. Additionally, FirstBank started a tree planting campaign in partnership with the Nigeria Conservation Foundation to plant over 50,000 trees in 2024 demonstrating the Bank’s dedication to ESG as a business agenda.
Expressing her delight at the recognition, the Group Head, Marketing & Corporate Communications, Mrs. Folake Ani-Mumuney said: “We are thrilled to receive the Euromoney Award for Nigeria’s Best Bank in ESG. This recognition is a testament to the power of enabling Giants in our employees, businesses, and communities to achieve success. At FirstBank, we believe that sustainability is a driver for growth and innovation. Our approach to sustainability is built on three pillars: Citizenship, Stakeholder Management, and Impact Management. This award validates our efforts to create a sustainable and inclusive future for all our stakeholders, and we are committed to advancing continuous positive impact in the marketplace, workplace, environment, and communities we serve.”
According to Euromoney, the “Awards for Excellence” – is the definitive annual awards programme of the global banking industry. The awards represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.”
Amongst other awards, FirstBank recently added to its awards kitty, Best SME Bank in Nigeria and Best Bank in Africa, Best Private Bank in Nigeria, and Best Private Bank for Sustainable Investment in Africa by Global Finance, for its exceptional leadership in integrating sustainable practices into its banking operations.
About FirstBank
First Bank of Nigeria Limited “FirstBank”, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant.
FirstBank’s international footprints cut across three continents ─ Africa, Europe, and Asia, with FirstBank UK Limited in London and Paris; FirstBank in The Democratic Republic of Congo, Ghana, The Gambia, Guinea, and Sierra Leone; FBNBank in Senegal; and a FirstBank Representative Office in Beijing, China. All the subsidiary banks are fully registered by their respective Central Banks to provide full banking services.
Besides providing domestic banking services, the subsidiaries also engage in international cross-border transactions with FirstBank’s non-Nigerian subsidiaries, and the representative offices in Paris and China facilitate trade flows from Asia and Europe into Nigeria and other African countries.
For 130 years, FirstBank has built an outstanding reputation for solid relationships, good corporate governance, and a strong liquidity position, and has been at the forefront of promoting digital payment in the country with over 13 million cards issued to customers (the first bank to achieve such a milestone in Nigeria). FirstBank has continued to make significant investments in technology, innovation, and transformation, and its cashless transaction drive has been steadily accentuated with virtually 23 million active FirstBank customers signed up on digital channels including the USSD Quick Banking service through the nationally renowned *894# Banking code.
With over 42 million customer accounts (including digital wallets) spread across Nigeria, the UK, and sub-Saharan Africa, the Bank provides a comprehensive range of retail and wholesale financial services through more than 820 business offices and over 233,500 agent locations spread across 772 out of the 774 Local Government Areas in Nigeria.
The Central Bank of Nigeria, CBN, has approved the merger between Providus Bank Limited and Unity Bank Plc, marking a significant milestone in the evolution of both financial institutions.
In a joint statement, the management of Providus Bank Ltd and Unity Bank Plc explained that the proposed merger represents a strategic and complementary union that will leverage the strengths of both banks to create a leading financial institution in the industry with footprints in retail, corporate, commercial, and digital banking.
The duo noted that the combination is driven by a shared vision to provide an unparalleled banking experience to their customers and by combining Unity Bank’s extensive branch network and deep-rooted customer relationships with Providus’s digital prowess and innovative spirit, they aim to deliver a seamless blend of traditional and modern banking services.
”Our customers will benefit from an expanded suite of products and services, greater convenience, and improved access to banking solutions across various channels. Integrating our digital platforms will offer enhanced security, faster transactions, and a more personalized banking experience”.
”As we embark on this journey together, we remain committed to maintaining the highest standards of corporate governance, financial stability, and customer satisfaction. Our united team of dedicated professionals will work tirelessly to ensure a smooth transition and continued tradition of excellence in all our operations”.
”This combination signifies the beginning of a new chapter in our shared history, one that is filled with promise and potential. We are confident that the combined strength of both entities will create a formidable force in the banking sector, driving innovation, growth, and prosperity for our customers, employees, and stakeholders”.
The Statement noted that completing the proposed merger is subject to the final approvals of the respective Boards, shareholders, and relevant regulatory approvals.
Unity Bank Plc, with its rich legacy of over 18 years, has established a robust retail banking network, comprising more than 220 branches nationwide. With a strategic niche in the agricultural business, our commitment to delivering exceptional customer service and a comprehensive range of financial products has earned us the trust and loyalty of millions of customers.
Providus Bank Limited, on the other hand, is renowned for its innovative approach to banking, boasting a strong digital footprint, innovative products, a high-quality service culture, and a strong focus on helping customers grow. As a fast-growing new-generation bank, Providus Bank has consistently pushed the boundaries of technology to deliver cutting-edge financial solutions that cater to the evolving needs of modern consumers.
In view of the planned nationwide protest scheduled to commence on Thursday, 1st August 2024, the Lagos State University, LASU has directed all staff and students of the University to stay off campus on *Thursday, 1st August 2024*.
The directive which followed a meeting held on Wednesday, 31st July 2024 is aimed at safeguarding the lives and properties of staff and students of the university during the course of the protest.
The Management also said against this background, the Lagos State University Students Union General Election scheduled to commence on Thursday, 1st August 2024, is hereby suspended until further notice.
“Further information on resumption of socio-academic and administrative activities in the university would be provided in due course.
Management urges all members of the university community to remain calm and stay safe during the nationwide protest.”
All flags at COSON House in Ikeja, the headquarters of the Copyright Society of Nigeria, COSON, are now flying at half-mast in honour of the iconic Nigerian singer, composer and former member of the COSON Board, Onyeka Onwenu, who just passed on at the age of 72.
A condolence register has also been opened at the reception of COSON House, for all those who want to pay tribute to the memory of one of the greatest female artistes Nigeria has ever produced.
Reacting to her death, the Chairman of COSON, Chief Tony Okoroji, said he was deeply shocked and completely devastated at the news of the death of the iconic singer.
Okoroji said, “This is shocking beyond words. Despite our differences in recent times, everyone knows that Onyeka was my dear friend and worked very closely with me in promoting the Nigerian music industry. She was my Vice President while I was President of PMAN. She served on my Board when I was Chairman of the Performing and Mechanical Rights Society, PMRS. Onyeka also served on the Board of COSON, where I was chairman.
Paying tribute to her, Chief Okoroji said, “Onyeka Onwenu was an incredibly talented Nigerian woman in many ways. Her passion for excellence remains unequalled”.
Chief Okoroji was emphatic that Nigeria will have other successful female singers but Nigeria will never have another Onyeka Onwenu. The COSON Chairman said, “The Nigerian creative family has lost a colossus. The Nigerian nation has lost an icon”.
Onyeka Onwenu, the elegant stallion, as she was referred to by her many fans, was a member of the founding Board of COSON. The Board, management, staff, and the thousands of members of COSON mourn the legend and will do whatever is necessary to ensure that she is buried like the queen that she was.
Ahead the planned nationwide protests from 1st to 10th August 2024, the Corporate Accountability and Public Participation Africa, CAPPA, has called on President Bola Ahmed Tinubu to immediately address citizens in a state-of-the-nation broadcast to engage the people’s legitimate grievances, calm frayed nerves, and break the icy tension that has formed across parts of the country.
It also urged the President to affirm his administration’s commitment to protecting the rights of citizens by compelling all government machinery and authorities to safeguard the lives and well-being of every citizen under their watch.
The group specifically urged the Nigerian police and security agencies to fulfil their obligations as enshrined in the 1999 Constitution of the Federal Republic of Nigeria (As Amended) by ensuring that the right of citizens to peacefully assemble is upheld without interference.
The nationwide protest tagged #EndBadGovernanceInNigeria filtered into public space and social media about three weeks ago in response to the growing frustration at the soaring cost of living and hardship precipitated by a series of economic reforms carried out by the Federal government since May 29 last year.
Since then, the country has gone agog with claims and counterclaims about the true motives of the protest, with various groups and individuals making inflammatory statements on social and traditional media that have not only heightened tensions but also added a distasteful ethnic colouration to the whole development.
Sadly, not only have the institutions of government, including the police, the Department of State Security, the Nigerian Army, and now the judiciary, been dragged into the controversy but several statements and actions from government officials have also demonstrated a bare-faced disregard for citizen’s rights and several international treaties obliging Nigeria to protect human rights and guarantee the fundamental freedoms of citizens to engage their representatives via the means of a peaceful protest.
For instance, despite a pre-notice letter from the protest organizers to the Minister of the Federal Capital Territory, FCT, Nyesom Wike, the Minister has strongly refused to grant permission for the use of Eagle Square, a public space, for their peaceful demonstrations.
Similarly, in a meeting with lawyers and representatives of the protest-organizing groups, the Inspector General of Police refused to approve the venues chosen by them for their march, insisting that their protests must be confined to restricted spaces.
On Tuesday July 30, 2024, the Lagos State Government obtained a court order limiting protesters to only two designated centres in the state: Gani Fawehinmi Park at Ojota and Freedom Park at Ketu, Lagos State.
According to the CAPPA statement, “such exploitation of the judiciary to obtain draconian rulings aimed at suppressing legitimate dissent and diminishing the rights of citizens to demand accountability from their elected representatives make a mockery of Nigeria’s democracy”
“We would like to point out in particular that Chapter IV, Sections 39 and 40 of the 1999 Constitution of the Federal Republic of Nigeria, guarantee citizens the freedom of expression, peaceful assembly and association for the protection of their interests.
“Section 41 also upholds the rights of law-abiding citizens to freely move throughout the country, reside in any part thereof and not be refused entry or exit. Article 19 and 21 of the International Covenant on Civil and Political Rights furthermore enshrine the rights to freedom of expression and peaceful assembly.”
“A peaceful protest is a legitimate mechanism for citizens to vent their grievances against unfavourable government policies, and any attempt to undermine how citizens feel is an assault against true democracy. Governance can only be genuine when it accords the dignity of participation, inclusion and expression for all citizens.”
The group also cautioned state and non-state actors to desist from criminalizing and victimizing innocent Nigerians and dissenting voices. It encouraged Nigerians to remain peaceful and united in the face of the nation’s challenges and during the protest.
CAPPA also urged security forces to stay alert to thwart and decisively deal with any plans by sponsored miscreants and thugs to crack down on peaceful protestors and undermine or physically disrupt activities at protest sites.
In view of reports of the planned protest scheduled for Thursday, August 1, 2024, the University of Lagos UNILAG has advised members of the University Community to remain calm, safe and security conscious at all locations.
In an advisory, UNILAG says its management has put in place precautionary measures to ensure safety, security, and well-being on the three campuses of the University, especially due to the ongoing 2nd Semester, 2023/2024 examinations.
“Please note that all examinations scheduled to hold on Thursday, August 1 and Friday, August 2, 2024 are postponed till further notice . A new schedule for all the papers initially listed for these two days will be announced in due course”.
“Similarly, it is imperative to stress that security is everybody’s business. All members of the University Community are, therefore, enjoined to go about their legitimate business and not hesitate to report anything or anyone suspicious on campus to the Security Unit via securityunit@unilag.edu.ng and cso@unilag.edu.ng.”
“The University recognises the right of citizens to lawful and peaceful assembly. However, members of the University Community, particularly staff and students, are implored to remain civil, orderly and responsible in their utterances and behaviour, offline and online”.
