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  • IADI Alleges Plot to Hijack Kafe Green Area Land

    • Alleges compromise by FCDA Executive Secretary and staff, using FCT Minister Nyesom Wike’s name to push reallocation for personal gain.
    • Urges Wike’s intervention as genuine allottee battles displacement despite ₦300m investment

    The Integrity Advocacy for Development Initiative (IADI) has raised alarm over what it described as a plot by senior officials of the Federal Capital Development Authority (FCDA) to hijack the Kafe Green Area in Abuja, despite a pending court case and huge investments already made by the original allottee.

    In a statement issued on Sunday, the Executive Director of IADI, Christopher Ofomhi, disclosed that the land was duly allocated to BUNJOA Concept Ltd in 2007, with the company paying ground rent up until 2010.

    According to him, the Department of Parks & Recreation confirmed the payments before an embargo was later placed on ground rent collection.

    Ofomhi stated that the company had already spent about ₦300 million on compensation and statutory charges, only for the land to be dubiously reallocated by what he described as “corrupt successors of Bukus Achi,” the former Director of Parks & Recreation, allegedly for personal gain. He accused the current FCDA Executive Secretary and some staff members of compromising the process by hiding under the name of FCT Minister Nyesom Wike to push through a reallocation scheme designed to benefit private interests.

    Despite the fact that the matter has been in court since 2022, with FCDA lawyers actively participating, Ofomhi revealed that a new company, Tegwa-Tegwanig Ltd, has now emerged, claiming it was engaged by the FCDA to develop a multi-event sports centre on the disputed site.

    “This development raises serious questions. What has happened to the genuine allottee who followed due process and invested millions? Why does the FCDA appear to disregard judicial processes and the constitutional rights of Nigerians to own property anywhere in the country? And why is an Executive Secretary in such a hurry to displace the rightful owner without due process or fair compensation?” Ofomhi queried.

    The civil society group alleged that some FCDA officials were hiding under the guise of a public project to appropriate the land for personal benefit. It warned that such acts of impunity undermine public trust in government institutions.

    IADI therefore called on the FCT Minister, Nyesom Wike, the FCDA leadership, and other relevant authorities to urgently intervene and halt what it described as “the planned hijack of an innocent citizen’s land.”

    “Land administration in Abuja must not be reduced to a playground for corruption. Due process must be respected, the courts must be allowed to decide, and citizens must be protected from exploitation,” Ofomhi stressed.

    Concluding the statement, IADI emphasized that the matter transcends the interest of one company, describing it as a litmus test for governance credibility and the rule of law in Nigeria.

    “As civil society, we cannot stand aloof while a dangerous culture of impunity takes root in the heart of the nation’s capital. If judicial pronouncements and due process are ignored in Abuja, then what hope do ordinary Nigerians have in other parts of the country?” Ofomhi asked.

    The group further appealed to the Director General of the State Security Service (DGSS) to prevail on the FCT DSS to conclude its ongoing investigation into the Parks & Recreation Department and ensure that all those found culpable face justice, noting that this will serve as a deterrent to others.

    The group also warned that it was prepared, alongside allied civil society organizations, to escalate the matter through lawful civic action, including peaceful demonstrations and public advocacy, until justice is achieved.

    “We will stand firmly on the side of justice. This is not just about land, it is about whether Nigerians can trust their government to protect rights and respect the courts. No one is above the law, and we will not relent until accountability prevails,” IADI declared.

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  • Youth Coalition Demands Better Funding for NNRA to Safeguard Public, Environment

    Youth leaders and civil society organizations have thrown their weight behind the Director General of the Nigerian Nuclear Regulatory Authority (NNRA), calling on the Federal Government and the National Assembly to strengthen the agency with increased budgetary allocation in order to safeguard public health, environmental safety, and national energy security.

    The call was led by Ambassador Akoshile Mukhtar, National Vice President (North Central) of the National Youth Council of Nigeria (NYCN), during a press briefing in Abuja on Tuesday. He praised the NNRA leadership for maintaining international best practices in nuclear regulation, radiation protection, and oversight of nuclear technology in Nigeria.

    Mukhtar noted that the NNRA plays a critical role in shielding Nigerians from harmful radiation exposure, ensuring the safe use of nuclear applications in industries, and building investor confidence in the energy and industrial sectors.

    “The NNRA under its present leadership has not only upheld Nigeria’s international obligations but has also positioned the country as a responsible player in nuclear safety across Africa. This is the kind of leadership Nigeria needs to safeguard lives, protect our environment, and guarantee energy sustainability,” Mukhtar said.

    He, however, lamented that chronic underfunding remains a major obstacle to the agency’s effectiveness despite its wide-ranging responsibilities in healthcare, oil and gas, agriculture, defense operations, and Nigeria’s growing nuclear energy ambitions.

    “Funding nuclear safety is not optional—it is essential. A well-resourced NNRA translates to a safer Nigeria, stronger compliance with global standards, and greater investor trust,” he added.

    Following deliberations, the youth and civil society coalition resolved to push for:

    Engagement with the National Assembly to secure increased allocations for NNRA in the 2025/2026 budget cycles.

    Nationwide public awareness campaigns on nuclear and radiation safety.

    Support for reforms aimed at modernizing NNRA’s regulatory frameworks.

    Inclusion of Nigerian youths in nuclear safety initiatives, research, and capacity building.

    Deeper cooperation with international partners, including the International Atomic Energy Agency (IAEA), for training and technical support.

    Recognition of nuclear safety as a national security priority, particularly in preventing radiological emergencies and misuse of nuclear materials.

    Integration of nuclear safety into Nigeria’s climate change and clean energy agenda.

    The coalition concluded by urging the Federal Government to “match commitment with resources,” stressing that the NNRA remains a silent but strategic guardian of national safety and sustainable development.

  • Building mutual trust, deepening dialogue, striving for win-win outcomes

    Building mutual trust, deepening dialogue, striving for win-win outcomes

    By Zhong Sheng, People’s Daily
    From July 28 to 29, China and the United States held a new round of economic and trade talks in Stockholm, Sweden. The two sides held candid, in-depth and constructive exchanges on economic and trade issues of mutual concern, including China-U.S. economic relations and macroeconomic policies.
    They reviewed and affirmed the implementation of the consensus reached in Geneva and the framework agreed on in London talks. Based on the meeting consensus, both sides will continue pushing for the continued extension by 90 days of the pause on 24 percent of reciprocal tariffs of the U.S. side, as well as counter measures of the Chinese side.
    The talks this time played a positive role in consolidating consensus and deepening mutual trust, further boosting confidence for both parties to resolve economic and trade disputes through equal dialogue and consultation.
    China-U.S. economic and trade relations are vast in scale and broad in scope, profoundly affecting the welfare of businesses and people in both countries.
    Through joint efforts by both sides, the Stockholm talks sent positive signals. The continued extension of pause on 24 percent of reciprocal tariffs of the U.S. side, as well as counter measures of the Chinese side represents a consensus welcomed by all parties.
    The fewer the tariffs, the greater the cooperation. Such pragmatic arrangements developed through China-U.S. dialogue not only help build mutual trust and advance negotiations, but reaffirm that resolving trade disputes through and consultation proves more efficient and less costly than alternatives.
    This round of talks continued the positive momentum formed by the China-U.S. economic and trade teams under the guidance of the important consensus reached by the two heads of state during their phone conversation. The previous economic and trade talks in Geneva and London reached a consensus in Geneva and a framework in London, respectively, effectively helping to cool down and defuse bilateral economic and trade frictions.
    This round maintained positive momentum established by both economic teams under their leaders’ strategic guidance. Previous Geneva talks yielded substantive agreements, while London negotiations produced a framework—collectively easing bilateral trade tensions.
    There exists broad consensus across both countries and the international community that China and the United States should resolve trade disputes through equal dialogue, guided by the principles of mutual respect, peaceful coexistence, and win-win cooperation.
    Through sustained engagement, both sides have deepened their understanding of respective concerns, with growing alignment on resolving differences and expanding cooperation.
    At the Stockholm meeting, China expressed that a stable, healthy and sustainable China-U.S. economic and trade relationship serves not only the two countries’ respective development goals, but also contributes to global economic growth and stability.
    At the Stockholm meeting, China emphasized that a stable, healthy, and sustainable bilateral economic relationship serves not only both countries’ development objectives but also contributes to global economic growth and stability.
    The U.S. side also acknowledged that a stable U.S.-China economic and trade relationship is of great significance to the economies of both countries and the world at large. It expressed willingness to work with the Chinese side to continue to resolve differences in the economic and trade field through the consultation mechanism, promote more outcomes from the talks, and further stabilize bilateral economic and trade relations.
    Since the onset of recent China-U.S. trade tensions, the U.S. narratives have frequently emphasized a so-called “China rebalancing” rhetoric. While firmly safeguarding its interests, China remains committed to resolving differences through equal dialogue and consultation, seeking to unlock bilateral economic potential.
    The trajectory of China-U.S. economic relations must evolve with both nations’ development. The key question remains: Will both sides steer toward mutual benefit and shared success, or descend into confrontation? The optimal path is evident – what’s needed is the wisdom and courage to seize opportunities.
    Shared interests and vast cooperation potential define the China-U.S. economic relationship. China’s ongoing high-quality development and expanding market openness generate significant opportunities for mutually beneficial collaboration.
    In manufacturing, China’s integrated supply chains, robust industrial ecosystems, and dynamic growth are attracting increasing numbers of U.S. firms. These companies expand operations in China to leverage complementary resources from both nations, thereby strengthening their global competitiveness.
    Within the consumer sector, China is treating the expansion of domestic demand as a strategic initiative, taking multiple measures to actively expand imports, with American companies being important beneficiaries.
    China welcomes enterprises from both sides achieve greater complementary advantages and mutual benefit based on each other’s needs. Given the U.S. objective of expanding exports to China, reducing bilateral trade barriers and fostering a conducive business environment would serve this shared interest. Words require credibility, and actions must yield results. Progress in China-U.S. economic talks has been hard-won, and sustained advancement demands continued alignment from both sides.
    Both sides should continue to fully leverage the role of the China-U.S. economic and trade consultation mechanism in accordance with the important consensus reached by the two heads of state during their phone conversation, continue to implement the consensus and results that have already been formed, constantly enhance consensus, reduce misunderstandings, strengthen cooperation, further deepen dialogue and consultations, and strive for more win-win outcomes, thus injecting more positive energy into the stable development of both countries and the global economy.
    (Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy and international affairs.)

  • REBUTTAL: BAYO OJULARI CLARIFIES RESIGNATION, DISMISSES “ABDUCTION” CLAIMS AS FICTION

    REBUTTAL: BAYO OJULARI CLARIFIES RESIGNATION, DISMISSES “ABDUCTION” CLAIMS AS FICTION

    Contrary to the sensational and wildly inaccurate report by Peoples Gazette alleging that the Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Bayo Ojulari, was “abducted and forced to resign” by security officials, we categorically state that the story is nothing more than a poorly scripted work of fiction, better suited for a Nollywood thriller than credible journalism.
    Unlike the Gazette’s dramatic tale of midnight kidnappings and shadowy coups, Mr. Ojulari voluntarily tendered his resignation after due consultations with higher authorities in Abuja. His decision followed the recent official trip to Kigali for an oil and gas conference—a legitimate business engagement aimed at advancing Nigeria’s energy sector interests.
    “I was neither arrested nor strong-armed into resigning,” Mr. Ojulari clarified with amusement. “In fact, the only ‘pressure’ I faced was from my own conscience and commitment to accountability after the unnecessary controversy stirred around the Kigali trip. My resignation was a personal decision, submitted through the appropriate channels—not at gunpoint in some spy movie scenario.”
    The report’s claim that EFCC Chairman Ola Olukoyede and DSS Director-General Adeola Ajayi orchestrated an illegal “coup” to remove him is not only baseless but laughable. “If I were to be ‘forced out,’ it certainly wouldn’t be in silence—I’d have at least negotiated for a better headline!” Ojulari joked.
    As for the bizarre insinuations about British-Nigerian businesswoman Olatimbo Ayinde, Mr. Ojulari maintains that he has no personal or professional dealings with her and finds it curious that her name keeps appearing in unrelated matters. “I’ve spent decades in the oil and gas industry, building a reputation on transparency and expertise—not gossip columns,” he stated firmly.
    While Peoples Gazette may thrive on conspiracy theories and clickbait, the truth remains simple: Mr. Ojulari resigned honorably, the NNPCL continues its operations uninterrupted, and Nigeria’s energy sector remains focused on progress—not palace intrigue.
    We urge the public to disregard this fictional account and instead rely on verified statements from official channels. After all, in the words of Mr. Ojulari: “If I were going to stage a dramatic exit, I’d at least make sure it came with a soundtrack and better lighting.”

  • CSOs Demand Governor’s Urgent Action As Ibusa Youth Crisis Escalates

    Civil society organizations identified as African Leadership Strategy & Transparency Development Initiative,
    have called on Delta State Governor, Elder Sheriff Oborevwori, to urgently intervene in the growing leadership crisis rocking the Igbuzo Youth Council (IYC) in Ibusa, Oshimili North LGA, warning that the situation is fast deteriorating and could lead to violent cult clashes if left unaddressed.

    In an open letter signed by Amb. Nelson Ossaieze and Comrade Victor Itsede, the CSOs accused the local government chairman, Hon. Innocent Esewezie, of defying a valid court injunction by imposing an illegal interim executive on the youth council. They further alleged that Hon. Esewezie formed a group called Ibusa Youth Ambassadors, which he uses to enforce control over the council in violation of its constitution and the rule of law.

    The letter revealed that a peace meeting held on July 21, 2025, at the state secretariat following a previous petition dated May 28, ended in a stalemate.

    According to the CSOs, Chief Edwin Uzor, the governor’s Special Adviser on Peace Building and Conflict Management, openly sided with the LG Chairman, asking the aggrieved youths to withdraw their case from court before being heard, despite ongoing violations of the same court order.

    They alleged that the chairman of the imposed interim body, Hon. Patrick Nwankwor, is a serving councillor and acting secretary to the Obuzor of Ibusa, both roles which violate the provisions of the IYC constitution. The CSOs warned that political interests are fueling the crisis and creating hostility on the ground, with community tension rising daily.

    Despite the issuance of Form 48 contempt proceedings by the court against those violating its order, the illegal interim body continues to operate freely, instilling fear and undermining the legitimacy of the existing council led by Chief Victor Ifeanyi Asiodu. The CSOs insist that the interference is politically motivated and against the values of justice and peace that Governor Oborevwori upholds.

    The organizations urged the governor to dissolve the interim executive, enforce the court’s order, and initiate a neutral, transparent process to restore legitimate leadership in the IYC. They also called for a fact-finding mission to assess the situation firsthand and prevent further escalation.

  • Hon. Paul Bankole Marks Birthday with Renewed Pledge to Osun Youth and Grassroots Development

    *Hon. Paul Bankole Marks Birthday with Renewed Pledge to Osun Youth and Grassroots Development”*

    It was a day of celebration and renewed dedication as Hon. Paul Kehinde Bankole, entrepreneur, media strategist, and political advocate, marked his birthday on Thursday, July 25.

    The occasion brought together friends, associates, and political allies who joined to honour the Ada-born leader from Boripe Local Government Area of Osun State. Known for his deep-rooted passion for community service and youth empowerment, Bankole used the moment not just to celebrate but to recommit himself to public service and grassroots development.

    An alumnus of Ladoke Akintola University of Technology (LAUTECH), Bankole has long distinguished himself as a student activist turned development-driven leader. He contested for the Ifelodun/Boripe/Odo-Otin Federal Constituency seat in the 2023 general elections, emerging as a strong voice for youth inclusion in governance.

    Beyond politics, Hon. Bankole is the founder and CEO of Avalanche Ignited Ltd, a fast-rising media and creative agency. He also leads several youth-focused ventures including the Avalanche Creative Academy and Avalanche Lounge & Restaurant — initiatives designed to boost local entrepreneurship, capacity building, and job creation.

    Speaking during the celebration, Bankole expressed gratitude to God and those who have supported his journey, while promising to double down on his efforts to uplift communities in Osun and beyond.

    “Each birthday is not just a milestone but a reminder to serve with greater purpose,” he said. “I remain committed to empowering the youth, creating opportunities, and championing development that touches lives at the grassroots.”

    Widely regarded as a bridge between the younger generation and leadership, Hon. Kehinde Bankole continues to inspire a new wave of civic responsibility and innovation across Osun State.

  • Fuji Star Lagunja 1 Mourns Late Awujale, Calls July 13 a Day Ijebu and Nigeria Will Never Forget

    Fuji music sensation, Wasiu Haruna-Ishola, popularly known as Lagunja 1, has paid a heartfelt tribute to Oba Sikiru Kayode Adetona, the late Awujale and Paramount Ruler of Ijebuland, who passed away on Sunday, July 13, at the age of 91.

    In a statement issued from Europe, where he is currently on a musical tour, the Ijebu-born artiste and protégé of Fuji legend King Wasiu Ayinde Marshal (K1 De Ultimate), described the monarch’s death as a monumental loss to Ijebuland, Yoruba land, and Nigeria as a whole.

    “July 13, 2025, is a date that can never be forgotten in the history of Ijebu and indeed the entire nation,” Lagunja said. “Oba Sikiru Kayode Adetona was more than a king—he was a pillar of wisdom, culture, and progress who defined what it meant to serve one’s people selflessly.”

    Lagunja 1, an alumnus of Abusi Edumare Academy, Ijebu-Igbo, hailed the monarch’s 64-year reign as a transformative period that saw significant strides in education, healthcare, cultural identity, and economic development in Ogun State and across Nigeria.

    “Kabiyesi was a unifier, a man of foresight, and a royal father whose leadership inspired generations. His dedication to peace, progress, and people’s welfare will remain a blueprint for traditional leadership,” Lagunja stated.

    He also reflected on the coincidence of Oba Adetona’s passing on the same day as former President Muhammadu Buhari, describing the moment as a “double national tragedy.”

    “To lose two prominent national figures in one day is heartbreaking. But the memory of their service will live on.”

    Oba Adetona, installed in 1960, was Nigeria’s longest-reigning monarch. Widely regarded as a beacon of modern monarchy, his leadership helped position Ijebu as a model of cultural pride, political influence, and socio-economic development.

    “May Kabiyesi’s soul rest in perfect peace, and may we continue to honour the values he stood for—dignity, wisdom, and devotion to the people,” Lagunja concluded.

  • CPTA Challenges Peter Obi Over Auchi SUG Death Claim, Demands Retraction and Apology

    CPTA Challenges Peter Obi Over Auchi SUG Death Claim, Demands Retraction and Apology

    The Centre for Peace, Transparency and Accountability (CPTA) has called on former presidential candidate Mr. Peter Obi to retract and apologise for his claim that two students died during the Student Union Government (SUG) election at the Federal Polytechnic, Auchi, Edo State.

    At a press conference in Abuja, the organisation’s Executive Director, Comrade Patrick Ogheneyero Jr., described Obi’s statement—made via his official X (formerly Twitter) handle on July 5—as “inaccurate, unverified, and capable of inciting public concern.”

    “We believe the statement to be false and misleading,” Ogheneyero said. “It has the potential to cause panic, misinform the public, and tarnish the image of a reputable institution.”

    Citing an official report by the Polytechnic’s Director of Public Relations, Mrs. Angela Egele, the group said no deaths or serious injuries occurred during the election, which was declared inconclusive due to procedural irregularities. The election, they stated, was held peacefully under the supervision of security agencies and independent observers.

    CPTA issued a seven-day ultimatum for Mr. Obi to publicly apologise and correct the record, warning of possible legal action if the demand is not met.

    The group also used the occasion to commend the institution’s Rector, Dr. Salisu Shehu Umar, for his developmental strides since assuming office in February 2022. Listed achievements include the construction of new road networks, modern classroom blocks, a 250-seat lecture theatre for the School of Engineering, and upgrades to the central library and ICT centre.

    “Dr. Umar has demonstrated a strong commitment to institutional development and student welfare. It is crucial that public commentary supports, rather than undermines, such progress,” Ogheneyero added.

    CPTA urged political figures and opinion leaders to verify claims before making public pronouncements, stressing the need for responsible engagement with facts to maintain public trust in educational and national institutions.

  • AGEAD Dismisses Allegations, Commends Federal Polytechnic Bida Leadership

    A coalition of over 52 civil society organizations, under the umbrella of the Advocacy for Good Ethics and Accountability for Development, has passed a vote of confidence on the leadership of the Federal Polytechnic, Bida, following a thorough on-site assessment of the institution’s projects and administration.

    The group executive director, who also occupies the seat of Director of Special Projects at the CSO Budget Implementation Assessment and Monitoring and Evaluation Committee (CBIAMEC), with his team, undertook a physical inspection of various projects June 18, 2024.

    Our correspondent gathers that the findings and reports were presented on Monday, June 23, 2025, during a formal briefing attended by members of the media, CBIAMEC leadership, and other civil society members.

    Speaking during the briefing, Comrade Henry Thomas, Executive Director of the organization, firmly dismissed recent allegations leveled against the Polytechnic’s leadership, stating that the projects purported to be non-existent were in fact visible, verifiable, and commendably executed.

    “As a former student of this great institution, I can confidently say the transformation I witnessed during our assessment visit is remarkable. Compared to what the institution was during my time here, the progress is undeniable,” Thomas stated.

    He emphasized that all projects cited in the allegations were not only completed but also reflective of prudent management and commitment to institutional growth.

    The group applauded the Rector and the management team for their professional handling of affairs, highlighting the high level of competence, capacity, and discipline observed throughout the institution.

    Henry further urged fellow civil society organizations and the general public to exercise due diligence before reacting to unverified allegations. “It is important to verify claims before amplifying them. False information can mislead the public and unjustly undermine progress,” he warned.

    He also identified key challenges, notably underfunding, which they say could limit the institution’s full potential, urging both government and private sector stakeholders to increase investment in the Polytechnic, noting the visible prospects under the current leadership.

    He concluded by charging the CBIAMEC, development partners, and media outfits, to continue monitoring, supporting, and publicizing success stories from institutions that demonstrate transparency and results-driven leadership.

  • SHAREHOLDERS COMMEND WEMA BANK AT 2024 ANNUAL GENERAL MEETING

    • …Express confidence in stable future following FY 2024 Financial Performance

    Reinforcing its position as one of Nigeria’s most profitable financial institutions, Wema Bank, Nigeria’s oldest indigenous bank, most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received a unanimous vote of confidence from its shareholders across Nigeria as it disclosed a record-breaking financial performance at its 2024 Annual General Meeting (AGM). The Wema Bank 2024 AGM held virtually in Lagos on Thursday, May 22, 2025.

    According to the Bank’s 2024 Annual Report, Wema Bank, in 2024, recorded an all-time-high performance, with Gross Earnings growing by 91.51% from N225.75 billion in FY 2023 to N432.34 billion in FY 2024; Profit before Tax (PBT) increasing by 135.16% to N102.51 billion in FY 2024 from N43.59 billion in FY 2023, and Profit After Tax (PAT) increasing by 140.13% to N86.29 billion from N35.93 billion reported in FY 2023; Total Deposits rose by 35.65% to N2,523.82 billion in FY 2024 from N 1,860.57 billion in FY 2023 and Total Assets stood at N3,585.05billion in FY 2024, representing a 60.04% increase over the N2,240.06billion recorded in the corresponding year of 2023 and placing the Bank squarely above the One trillion Naira mark, a milestone the Bank surpassed in Q3 2021.

    The Bank also grew its loans to customers by 49.94% to close FY 2024 at N1,201.21 billion from the N801.10 billion recorded in 2023. Impressively, the Wema and ALAT brands continue to win public acceptance and market relevance as the Bank continues to record growth in its retail deposit drive. 2024 has proven beyond doubt to be an exceptional for the Bank with earnings growing by 91.51% year on year with earnings per share at 483.2 kobo. Additionally, the Bank’s Non-Performing Loan rate closed at 3.86%, a reduction from FY 2023 position. It is no surprise that the Bank received unanimous commendation from shareholders, with both internal and external stakeholders expressing full confidence in the Bank’s stable outlook and successful financial future.

    Among the shareholders who expressed a vote of confidence in Wema Bank were Mr. Matthew Akinlade, who commended the Management for a performance he regarded as “very outstanding”, and Ambassador Doctor Olatunde Okelana, who described the 2024 financial performance of Wema Bank as “historical”, commending Wema Bank’s proactive approach to employee well-being.

    Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, also added, “I want to start by commending Wema Bank’s outstanding performance despite the challenging macroeconomic performance. On gender inclusion, I would also like to commend Wema Bank for an impressive gender diversity on the board with 5 out of 11 directors being female, representing a remarkable 38% ratio. Furthermore, I want to seriously commend the succession plan of Wema Bank, and the board for achieving 100% attendance in meetings, which shows a full commitment on their part”.

    Anchoring the Wema Bank 2024 AGM, Dr. Oluwayemisi Olorunshola, the Chairman of Wema Bank, expressed the Bank’s gratitude and appreciation to its shareholders, customers, employees, regulators, partners and other stakeholders, for their continued support and contributions to the Bank’s outstanding performance for the year in view, reiterating the Bank’s commitment to sustain the upward surge in its performance in the decades to come.

    Alluding to the Bank’s plan for sustaining the gargantuan growth recorded in 2024, Moruf Oseni, the Bank’s MD/CEO, added, “We will continue to deliver best-in-class financial solutions, invest in second-to-none technology, reinforce our internal framework for maximum efficiency and remain fully committed to innovation and service excellence, as we continue to provide optimum returns for every stakeholder of Wema Bank. The N150 billion Rights Issue window ended yesterday May 21st, 2025. However, we have raised a motion to raise another N50 billion through private placement, and with your permission, we will proceed with that, come June 2025”.

    “At the end of it all, what we expect is that Wema Bank will have qualifying capital slightly north of N267 billion, which allows us to sustain the resilient and robust franchise that we have built together, to keep Wema Bank thriving as a force to be reckoned with in the industry. Wema Bank stands strong at 80 and in the decades to come, I can assure you that the growth we are experiencing today, is just a tip of the iceberg”, Oseni concluded.

    Wema Bank 2024 AGM saw the Bank’s shareholders authorise a number of decisions including the re-election of board members, remuneration of Audit and Board members, and payment of dividends of N1 per share.

    From marking the incredible milestone of its 80th anniversary to making significant strides towards meeting the CBN recapitalisation benchmark for 2026 and achieving a record-breaking 2024 financial performance that has sustained an unparalleled growth streak over the past decade, Wema Bank has proven its capacity to remain at the forefront of the African financial industry without compromising on delivering unmatched value to stakeholders.