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Sterling Financial Bucks Banking Slump, Emerges Among NGX’s Top Gainers
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By Gloria Ikibah
Sterling Financial Holdings Company Plc defied the broader downturn in the banking sector on Thursday, with its shares rising 6.67 per cent to close at ₦8.00, placing the company among the top-performing stocks on the Nigerian Exchange (NGX).
The impressive performance came on a day when the NGX Banking Index fell by 2.04 per cent and the broader equities market extended its losing streak for a second consecutive trading session.
The company’s shares finished third on the day’s gainers’ chart, contrasting sharply with the wider market, where investors continued to take profits following July’s rally.
Market data showed that the NGX All-Share Index declined by 0.7 per cent, while losers outnumbered gainers by more than two to one. Over the two trading sessions, approximately ₦1.65 trillion was wiped off the total value of listed equities.
Despite the market pressure, Sterling Financial attracted sustained investor interest, with 36.01 million shares valued at about ₦286.8 million exchanged during the day’s trading.
The strong market performance followed the Group’s recently released half-year financial results, which showed a 20.4 per cent increase in profit after tax to ₦50.3 billion, alongside continued growth in customer deposits and total assets approaching the ₦5 trillion mark.
The Group also strengthened its capital position during the period through a successful ₦96.6 billion public offer, which increased shareholders’ funds by 27.8 per cent to ₦547.7 billion, providing additional capacity to support lending and business expansion.
Sterling Financial’s financial performance was further underpinned by improved earnings from its core operations. Net interest income rose by 41 per cent to ₦137.4 billion, while return on average equity stood at 20.6 per cent. Return on average assets also improved to 2.35 per cent from 2.05 per cent recorded in the corresponding period of the previous year.
Industry analysts attributed the stock’s resilience to the company’s strong earnings performance, strengthened capital base and diversified business model, which have continued to bolster investor confidence despite prevailing market volatility.
Sterling Financial operates as a diversified financial services holding company with interests spanning commercial banking through Sterling Bank, non-interest banking under The Alternative Bank, and wealth management services through SterlingFI.
News
How fake agency secured SGF office, built nationwide network – ICPC
The alleged fake National Brands Development and Made-in-Nigeria Special Project Office claimed it had Federal Executive Council approval dating back to 2017, nine years before the Independent Corrupt Practices and Other Related Offences Commission uncovered it.
The office, which was domiciled in the Office of the Secretary to the Government of the Federation, also created a nationwide network of appointments covering geopolitical zones and states.
ICPC Chairman Dr Musa Aliyu said the commission uncovered the alleged fake office during its investigation into the fictitious Presidential Foreign Intervention Promotion Council and other weaknesses in the public service.
“Upon further briefing by ICPC to Mr President on the ongoing investigations into the fake PFIPC and procedural weaknesses in the public service, the ICPC has uncovered another fake agency and office operating under the name National Brands Development and Made-in-Nigeria Special Project Office, which has been illegally allocated office space within the premises of the Office of the Secretary to the Government of the Federation,” Aliyu said.
He identified the promoter as George Nwabueze, alleging that he operated under several variations of the name with the suspected collaboration of senior public servants in the OSGF.
“The promoter Nwabueze was discovered to also operate under four other variations of his name: George Nathan, George Nathan Nwabueze, Hon. George Buchi Nwabueze, Prince George Buchi Nwabueze and George Nwabueze,” Aliyu said.
A profile on the organisation’s website identified Nwabueze George as its “Executive Director, National Coordinator”, while the website presented the outfit as a federal agency responsible for promoting Nigerian brands and local manufacturing.
The website claimed that the Federal Executive Council had approved a “National Campaign to Sensitize Nigerians on the Patronage of Made-in-Nigeria Products” at a February 1, 2017, meeting at the Presidential Villa, Abuja, during the Muhammadu Buhari administration.
It also listed the Ministry of Industry, Trade and Investment as the implementing ministry and cited a purported “Bill for an Act to Establish the National Brands Development and Made-in-Nigeria Promotion Commission and for Related Matters”.
Beyond its claims of federal approval, the alleged agency had established a leadership structure spanning the geopolitical zones and several states.
At the national level, it listed Dr Bassey B. Unaowo as Special Assistant to the Permanent Secretary on Political and Economic Affairs in the OSGF, Dr Hajara Njidda Amoni as Director, National Administration, and Nwabueze as part of the leadership.
It also named zonal directors for the South-West, North and South-East, alongside state coordinators across the North-West, North-Central, North-East, South-South, South-East and South-West.
The state officials were designated “State Coordinator, National Brand Development and Made in Nigeria Project Office”, with profiles carrying an official-looking green and white insignia bearing the inscription “National Brands Development, The Presidency, Made in Nigeria.”
The outfit also maintained social media accounts under the handle “@pmainpro” on Instagram, Facebook, X and LinkedIn.
However, the ICPC said its findings showed that the office had no presidential authorisation and was operating contrary to extant laws.
The discovery followed the earlier investigation into the alleged fictitious Presidential Foreign Intervention Promotion Council, whose self-styled Director-General, Adeniyi Adeyemi Matthew, is facing prosecution for alleged forgery and impersonation.
Following the ICPC briefing, President Bola Tinubu ordered the immediate arrest of Nwabueze and suspended three Permanent Secretaries M.S. Danjuma, Engr Nadungu Gagare and Richard P. Pheelangwah pending investigations.
Aliyu said the commission had engaged officials of the OSGF to establish how the alleged fictitious office obtained accommodation within the Secretariat and would investigate the roles of the suspended officials and others connected with the network.
“I have briefed Mr President comprehensively on these new developments. ICPC will continue with its investigations accordingly,” Aliyu said.
News
Tinubu Renews Tenures Of NTA DG, NAN MD For Another Three Years
President Bola Ahmed Tinubu has renewed the tenures of the Director-General of the Nigerian Television Authority (NTA), Abdulhamid Salihu Dembos, and the Managing Director of the News Agency of Nigeria (NAN), Ali Mohammed Ali, for another three years.
This is contained in a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, on Sunday.
According to the statement, Tinubu first appointed Dembos and Ali to head the NTA and NAN, respectively, on October 20, 2023. Their second terms will commence on October 20, 2026.
Dembos, from Yola, Adamawa State, is a former National President of the Radio, Television, Theatre and Arts Workers Union (RATTAWU).
He previously served as Executive Director of Marketing at the NTA after his retirement from the organisation in 2017.
Dembos joined the NTA as an announcer at its Kaduna station after completing his National Youth Service in 1989. He subsequently rose through the ranks, serving at various times as General Manager of NTA Lokoja and NTA Kano.
He retired in 2017 as the Acting Zonal Director of the NTA Kaduna Network Centre.
Ali, on the other hand, is a veteran journalist and media manager with more than 30 years of experience.
He has a keen interest in media evolution and content development in the digital era, particularly in meeting the needs of diverse audiences through alternative news platforms.
Ali holds a first degree in English from Bayero University, Kano; a graduate degree in International Affairs from Ahmadu Bello University, Zaria; and a Postgraduate Diploma in Mass Communication from Bayero University, Kano.
President Tinubu urged the two chief executives to justify the confidence reposed in them by continuing to demonstrate commitment to the mandates of their respective organisations and the promotion of his administration’s Renewed Hope Agenda.
News
10 Nollywood Stars Who Lost Their Fight Against Cancer
The death of veteran Nollywood actor Taiwo Hassan, popularly known as Ogogo, has renewed attention on Nigerian film stars who lost their lives after battling different forms of cancer.
Hassan died on Sunday, August 23, 2026, at the age of 66. His daughter, Kira Taiwo, confirmed his death during an emotional live video.
Days before his death, Kira and her sister, Haleemah, disclosed that their father had been diagnosed with stage four cancer. They appealed for medical assistance after doctors reportedly said his condition had become difficult to treat.
Here are other Nollywood actors whose deaths were linked to cancer.
1. Taiwo Hassan ‘Ogogo’

Taiwo Hassan built a career that spanned more than four decades, with memorable appearances in Yoruba and English language productions.
The actor, producer and director was known for films including Owo Blow, Omo Ghetto and Aníkúlápó.
His death came days after his daughters publicly revealed his battle with stage four cancer. The particular type of cancer was not disclosed.
2. Alexx Ekubo

Alexx Ekubo died on May 11, 2026, at the age of 40.
His family said the actor died at Evercare Hospital from complications arising from advanced metastatic kidney cancer.
Ekubo was known for films including Weekend Getaway, Lagos Cougars, The Bling Lagosians, Omo Ghetto: The Saga and A Sunday Affair.
His illness was largely kept away from the public until his death.
3. Tom Njemanze

Veteran actor Tom Njemanze died in July 2025 at the age of 75 after battling prostate cancer.
Before his death, videos showed him receiving treatment in a hospital as colleagues appealed to the public for financial assistance.
Njemanze became popular through his performances in films including Issakaba, Osuofia in London, Pounds and Dollars, Brain Box and Twin Brothers.
4. Stella Ikwuegbu

Veteran actress Stella Ikwuegbu died on June 16, 2024, after battling what her colleagues described as leg cancer.
Movie producer Stanley Nwoko announced her death and paid tribute to her contribution to the Nigerian film industry.
Ikwuegbu was known for playing motherly and elderly characters in numerous Nollywood productions.
5. Ethel Ekpe

Ethel Ekpe died in February 2024 after battling cancer. The specific type of cancer was not publicly disclosed.
She became popular for playing Segi in Ken Saro-Wiwa’s television comedy series, Basi and Company.
The actress also featured in Amaka Igwe’s Forever, Sons of the Caliphate, Speak the Word and several other productions.
6. Karibi Fubara

Nollywood actor and producer Karibi Fubara died on December 15, 2021, following a battle with kidney cancer.
Fubara disclosed in 2020 that doctors had discovered a large, mid-stage kidney tumour. He later underwent surgery to remove about 90 per cent of it.
His death was announced by members of his family about 19 months after the surgery.
Fubara featured in productions including God Calling, Smart Money Woman, Castle and Castle and Quam’s Money.
7.Sadiq Daba

Veteran actor and broadcaster Sadiq Daba died on March 3, 2021, after battling leukaemia and prostate cancer.
Daba received treatment in Nigeria and abroad following financial support from well-wishers.
He became widely known for his role in the television series Cockcrow at Dawn. He also played Inspector Waziri in Kunle Afolayan’s October 1, a performance that earned him the Africa Movie Academy Award for Best Actor.
8. Doris Chima

Veteran actress Doris Chima died in August 2021 after battling breast cancer for more than six years.
The Chairman of the Actors Guild of Nigeria in Lagos State, Emeka Rising Ibe, confirmed her death.
Chima appeared in several Nollywood productions before her illness kept her away from the screen.
9. Ify Onwuemene

Ifeyinwa Onwuemene, popularly known as Ify Onwuemene, died on May 25, 2021, after battling stage four endometrial cancer.
Her colleague, Gloria Anozie-Young, said the actress underwent surgery and several chemotherapy sessions during her treatment.
Onwuemene became popular for playing the wife of Sam Loco Efe’s character in the television series Everyday People.
10. Aisha Abimbola

Yoruba actress Aisha Abimbola, popularly known as Omoge Campus, died in a Canadian hospital in May 2018 after battling breast cancer.
She rose to fame through her appearance in the film Omoge Campus in 2001.
Abimbola also featured in No Pain, No Gain, Awerijaye, So Wrong So Right and Kamson and Neighbours.
The deaths of these actors highlight the impact cancer has had on the Nigerian film industry.
Some fought the disease publicly and received support from colleagues and fans. Others kept their diagnoses private until their deaths.
Credit: guardian.ng
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