Author: Citynews

Only six of Nigeria’s major listed banks paid dividends totalling about N1.27 trillion to shareholders for the 2025 financial year, while five other profitable lenders were unable to make distributions after failing to satisfy the Central Bank of Nigeria’s (CBN) prudential requirements. The banks that paid dividends were Guaranty Trust Holding Company (GTCO), Zenith Bank, Stanbic IBTC Holdings, Ecobank Transnational Incorporated, Wema Bank and FCMB. Financial Vanguard’s review of the banks’ audited financial statements showed that the dividend payments were largely concentrated among the major Tier-1 lenders, with GTCO and Zenith Bank alone accounting for about 81.9 per cent of…

Social media activist Martins Vincent Otse, popularly known as VeryDarkMan (VDM), has responded to critics questioning why he publicly addressed his dispute with singer Peter Okoye, popularly known as Mr P, amid the ongoing controversy surrounding the former P-Square members. VDM gave the response in the comment section of a video on Instagram after some users argued that Peter Okoye should not respond to him because the singer had allegedly approached him privately to seek his advice. Rejecting the argument, VDM said Peter did not approach him simply as a friend seeking personal counsel but because of his influence and…

A Nigerian Army Colonel, Mohammed Ma’aji, has disclosed the main reason he planned a coup to overthrow President Bola Tinubu. According to Premium Times, Ma’aji said worsening insecurity, corruption and economic hardship are among the grievances discussed by those allegedly involved in the failed coup. Ma’aji stated that discussions about military intervention began in 2023, towards the end of the administration of former President Muhammadu Buhari. “Things particularly got out of control towards the end of Buhari’s administration when corruption and nepotism became the order of the day,” he stated. The Army Colonel expressed the belief that senior military authorities…

The United Nations (UN) has distanced itself from Adeniyi Adeyemi Matthew over claims that he was appointed to a position within the UN Youth Office. This online medium reports that the UN Youth Office said Adeyemi, who allegedly self-styled himself as the Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), had no appointment, employment or affiliation with the organisation and had never been authorised to represent the office or the United Nations in any capacity. The clarification was contained in a letter dated July 27, 2026, with reference number UNYO-2026-0017, issued by the UN Youth Office through Nigeria’s Permanent…

Osun State  Governor, Ademola Adeleke, has accused the Minister of Marine and Blue Economy, Adegboyega Oyetola, of making an open threat to rig the 15 August governorship election in the state. Mr. Adeleke made the allegation in a statement signed by his spokesperson, Olawale Rasheed, and obtained by journalists in Osogbo on Sunday. The governor was reacting to comments made by Mr. Oyetola while addressing All Progressives Congress (APC) stakeholders and supporters in Osun State on Saturday. The former Osun State governor, Mr. Oyetola, who lost his re-election bid to Mr. Adeleke in the 2022 governorship election, had urged the incumbent…

The Executive Chairman of the Nigeria Revenue Service, Zacch Adedeji, has dismissed concerns over the alleged lavish lifestyles of public officials. Adedeji said President Bola Tinubu does not live extravagantly despite his position. He stated this during an interview with Channels Television, on Sunday, where he was questioned by journalist Seun Okinbaloye about the lifestyles of political office holders amid the economic challenges confronting Nigerians. The discussion comes amid public debate over government spending and the lifestyles of political leaders, particularly as Nigerians continue to contend with rising living costs and economic pressures. Responding to questions about the President’s movements…

Joseph Tegbe, Minister of Power, says the success of Nigeria’s power sector should no longer be measured primarily by the amount of electricity generated, but by how many communities and people have access to reliable power. Tegbe made the remarks on Friday, August 7, during the inauguration of the governing board of the Rural Electrification Agency (REA) in Abuja. The minister said the agency’s mandate goes beyond connecting communities to electricity, describing it as a key institution for expanding economic opportunities and improving livelihoods. “We are moving from just counting kilowatts and megawatts to how many communities and people were…

The Nigerian National Petroleum Company Limited, NNPCL has reacted to calls by oil and gas professionals for the removal of its Group Chief Executive Officer, Bayo Ojulari, and the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Meyiwa Eyesan. In a statement by its spokesperson, Andy Odeh, on X on Saturday, NNPCL defended Ojulari and Eyesan. This online medium recalls that the Oil and Gas Professionals Forum, OGPF, led by the convener, Ayodele Momoh, called for the removal of Ojulari and Eyesan over the continued underperformance of Nigeria’s oil sector, questionable transactions and contracts, and controversies surrounding the award…

The National President of the Pentecostal Fellowship of Nigeria (PFN), Bishop Wale Oke, has thrown the full support of the Pentecostal body behind the Catholic Bishops Conference of Nigeria, declaring that any attack on Catholic bishops is a direct attack on the entire Body of Christ. Speaking during a recent interview, Bishop Oke backed the strong message delivered by Cardinal John Onaiyekan during a recent visit by Catholic bishops to President Bola Tinubu, where the delegation bluntly told the President that “Nigeria is bleeding.” Emphasising the Cardinal’s words, Bishop Oke asked: “Are we not bleeding? Are we not bleeding in Benue? Are we not bleeding in Southern Kaduna?…

The Lagos State chapter of the Peoples Democratic Party, PDP, has criticised the Minister of the Federal Capital Territory, Nyesom Wike, over his recent remarks about former Deputy National Chairman of the party, High Chief Olabode George. In a statement issued on Saturday, the party’s spokesman, Prince Dr Christopher Odianarewo, accused Wike of attempting to distort the history of the PDP and downplay George’s contributions to the party. The statement followed comments attributed to Wike through his spokesman, Lere Olayinka, on August 8, 2026, in which the FCT minister reportedly said he had no regrets about opposing George’s ambition to become national…