Author: Citynews

By Iheanyi Nwachukwu On Thursday June 20, Nigeria’s 6th largest bank, Fidelity Bank Plc will open its public offer and Rights Issue. According to an article on the Businessday website and authored by Iheanyi Nwachukwu, the bank is raising a total of up to N127.100billion by way of a Rights Issue to existing shareholders and a Public Offer (the Combined Offer). Under the Rights Issue, 3.2 billion ordinary shares of 50 kobo each will be offered in the ratio of 1 new ordinary share for every 10 ordinary shares held as of January 5, 2024, at N9.25 per share. For…

The Nigerians in Diaspora Monitoring Group (NDMG) has nominated Governor Siminalayi Fubara for the Nobel Peace Prize for saving democracy and eschewing illegality in Rivers State. The group, in a statement on Tuesday, said the governor was brave, decisive and swift to direct Heads of Local Government Administration to assume responsibility for the 23 council areas. Recall that Governor Fubara ordered elected local government chairmen, vice chairmen and councillors to step aside on Monday after the expiration of their three-year tenure. In the statement signed by Dr Markson Martins, the Diaspora group hailed the governor for skillfully avoiding potential criminality and a breakdown…

Nigerian Governors have been urged to emulate Rivers State Governor Siminalayi Fubara in respecting the Local Government Chairmanship tenure system. The Young Christians’ Forum of Nigeria (YCFN) gave the advice in a statement signed by its President, Rev. Simon Pam, on Tuesday. The group hailed Governor Fubara for putting his political differences with the immediate past Chairmen aside and allowing them to complete their tenure smoothly without interference. YCFN said the Governor has set a new precedent for state and local government’s relationship in Nigeria, especially as regards power-sharing. The forum added that with people like Governor Fubara at the…

A group of 45 civil society groups under the auspices of the Coalition of Civil Society Groups in Nigeria for Promotion of Accountability and Transparency in Governance (CCSGNPATG) have thrown their weight behind the proposed Nigeria Shippers Council regulatory agency. Recall that the Bill for an Act to Repeal the Nigeria Shippers’ Council Act and enact the Shipping and Port Economic Regulatory Agency Bill and Related Matter passed second reading in the House of Representatives. This crucial legislation aims to empower the Nigerian Shippers Council to effectively regulate the shipping industry, protect the interests of shippers, and promote economic growth.…

The Chairman and Group Managing Director of Adron Homes and Properties, Aare Adetola Emmanuel-King has extended warm wishes to the Muslim community as they celebrate the annual Eid-Al-Adha festival throughout the country. He emphasizes the importance of peaceful coexistence, religious tolerance, and prayers for the country’s development, urging all religious leaders to embrace these values. In a statement signed by His Special Adviser on Media, Oladapo Sofowora; Aare Adetola encouraged all Muslims to stay committed to their faith and utilize the celebration as an opportunity to contribute to Nigeria’s development during these challenging economic times. Additionally, he calls on opinion…

Union Bank, one of Nigeria’s foremost financial institutions, has reemphasised the need to preserve and restore the global habitat through sustainable environmental practices. This clarion call was made during an event organised in partnership with the Nigerian Conservation Foundation to commemorate this year’s World Environment Day. The program, held on June 5th, 2024, at the Lekki Conservation Centre in Lagos State, brought together various stakeholders, including environmental rights activists, international partner agencies, corporate institutions, government agencies, and students of select secondary schools, to deliberate and engage in activities marking World Environment Day. One of the main events on the day…

Guaranty Trust Bank has dragged Demola Shogunle’s Stanbic IBTC, Standard Chartered Bank, Jaiz Bank, NDIC (liquidator for Heritage Bank), and no fewer than 56 top executives of 13 commercial banks to court as a pending suit between GTBank and Afex Commodity Exchange over N17bn Anchor Borrowers Programme loan lingers. The 60 executives including the chairmen, chief executive officers, directors, and company secretaries of the 13 banks are facing contempt proceedings for allegedly failing to implement a No-Debit-Order reportedly placed on the accounts of Afex Commodity Exchange with the banks. In suit no FHC/L/CS/911/2024 involving Guaranty Trust Bank Limited and AFEX…

Moremi Ojudu, the Senior Special Assistant on community engagement in South west to President Bola Tinubu, extends her warmest greetings and felicitations to the Muslim ummah on the occasion of Eid-El-Kabir. In a statement released, Moremi expressed her well wishes for the Muslim community around the world, saying, “As the Muslim ummah celebrate Eid all across the world, I ppray that this holy feast will bring abundant joy and blessings to your home. May Allah accept our sacrifice as acts of worship. Wishing you peace, happiness and prosperity.” Moremi’s message of goodwill comes at a time when Muslims all over…

By Adeyemi Obadimu Veron  As Muslims around the world celebrate Eid-El-Kabir, TeamNigeria4Change extends warm wishes and felicitations to all members of the Muslim community. This important festival signifies sacrifice, peace, and unity, values that are essential for the progress and development of our society. In line with the spirit of Eid-El-Kabir, if we can recall on Monday, TeamNigeria4Change, led by founder Bestman Nze Jumbo, embarked on a mission to spread joy and goodwill by distributing OUNJE-EKO (food) to vulnerable people in the community. This initiative aimed to provide support to those in need and celebrate the spirit of giving and…

The Founder of Oloyemeji Foundation, Oyewale OYELOLA has felicitated with Muslims in Ogbomoso South local government on the occasion of this year’s Sallah Celebration. Oyelola in a statement issued on Sunday in Ijeru, says Eid-Kabir demonstrates the loving kindness of God towards humanity. He therefore implored the Muslim ummah to imbibe virtues of sacrifices, dedication to service and selflessness. Oyelola promised to continue to impact lives and put smile on downtrodden faces through the Oloyemeji Foundation. He encouraged them to stay strong amidst the economic hardship in the country, stating that people will continue to see positive impacts of President…