News
Access Bank Becomes First to Meet CBN’s Minimum Capital Requirement with N351bn Rights Issue
By Gloria Ikibah
Access Holdings Plc has announced the successful completion of its Rights Issue, raising N351,009,103,017.25 through the issuance of 17,772,612,811 ordinary shares at N19.75 per share.
This achievement follows full regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
With this milestone, Access Bank Plc, the flagship subsidiary of Access Holdings, is the first bank to meet the CBN’s N500 billion minimum capital requirement for banks with international authorisation, well ahead of the March 2026 deadline. The bank’s share capital now stands at N600 billion, exceeding the regulatory threshold by N100 billion.
This marks a significant achievement as Access Holdings is the first CBN-licensed financial holding company to execute a fully digital Rights Issue. The process utilised the Nigerian Exchange Group’s E-offer platform to provide shareholders with a seamless and efficient subscription experience, enhancing accessibility and participation.
Speaker on the development, the Holding Company’s Chairman, Aigboje Aig-Imoukhuede, highlighted the innovation and leadership demonstrated by the institution. Further details from the statement emphasize the bank’s commitment to leveraging technology to drive growth and improve shareholder value.
News
Nigeria Expresses Concern Over Post-Election Violence in Mozambique
By Gloria Ikibah
The Federal Republic of Nigeria has expressed deep concern over the escalating violence that has erupted in Mozambique following its recent presidential elections.
Reports indicate that the unrest, concentrated in the capital city of Maputo and major cities like Beira and Nampula, has led to the loss of over 121 lives and left more than 380 people injured.
The violence reportedly began after Mozambique’s Constitutional Council confirmed Daniel Chapo of the Mozambique Liberation Front (FRELIMO) as the winner of the presidential election with 65% of the vote. The opposition, rejecting the results, has raised tensions, triggering widespread protests and clashes.
In a statement issued by the Acting Spokesperson of Nigeria’s Ministry of Foreign Affairs, Kimiebi Imomotimi Ebienfa, the Nigerian government called for calm, and urged all political actors in Mozambique to pursue legal avenues to address grievances.
Nigeria also extended its sympathies to the Mozambican government and the families of those affected by the crisis.
“The Federal Government of Nigeria advises aggrieved parties to explore appropriate legal means to seek redress.
“Our thoughts are with the Government of the Republic of Mozambique and the families of all those affected by this dreadful crisis,” the statement read.
The Federal Government furth willer reaffirmed its commitment to supporting peace and stability in Africa, and called for dialogue and restraint to resolve the unfolding conflict.
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Again, Niger Military Junta Insists France Backing Nigeria To Establish Terrorist Operational Base In Sokoto, Others
General Abdourahamane Tiani, Niger Republic Head of State, has accused France of planning to establish a terrorist operational center in Gaba, a forested area in Sokoto State, Nigeria.
Tiani further alleged that the Nigerian government is aware of these intentions and has been complicit in France’s destabilization efforts in the region.
According to Tiani, France is also purportedly providing financial backing to Nigerian authorities to set up a military base in Borno State, under the guise of combating terrorism, with the ulterior motive of destabilizing Niger and its neighboring countries.
Tiani disclosed that Niger’s intelligence had gathered information from arrested terrorists who reportedly disclosed France’s plan to set up a terrorist base in Sokoto with terrorists known as ‘Lakurawa.’
This intelligence, according to Tiani, was passed on to Nigerian authorities for verification.
He revealed how Niger officials had contacted Ahmed Rufai Abubakar, the former Director-General of Nigeria’s National Intelligence Agency (NIA), for confirmation.
He said, despite assurances from Abubakar that his team would investigate, Tiani claims that the intelligence was mishandled, and no further action was taken, as Abubakar is allegedly linked to the terrorist network.
He alleged that since the French government became involved, knowing that Chadian military had targeted terrorists with airstrikes, they provided the terrorists with sophisticated weapons capable of bringing down military jets.
“It is France that gave the weapons to Boko Haram terrorists, so that if a Chadian military jet came to strike them, the terrorists could use the weapons provided by the French government to bring it down.
“They struck on October 16, when France supplied them with the weapons. The information we gathered from the terrorists we arrested indicated that there is an ongoing discussion, and Nigerian leaders are aware of it,” Tiani stated.
He said, “There is a forest called ‘Gaba’ in Sokoto, where they are planning to establish an operational center for terrorists, named ‘Lakurawa’.
“We received intelligence on March 4 that France and ISWAP were planning to set up an operational center in Sokoto, Kebbi, and Zamfara to prepare positions for terrorist activities.”
Tiani further explained that one of the terrorists they arrested informed them that the Nigerian government is well aware of the operational centers for terrorists in Sokoto.
“However, we dismissed his claim as false because he was unwilling to allow us to share this information with the Nigerian government. As Niger and Nigeria are closely connected, we felt it was our responsibility to report any information that could be harmful.
“We reported what France was planning to do to the Director-General of the National Intelligence Agency (NIA), Ahmed Rufai Abubakar, as we were unaware of these developments.
“He assured us that he would send personnel to gather more information. We took on their responsibilities, and there was no location we did not visit or have exclusive discussions with the arrested terrorists,” he said The terrorists disclosed everything about France’s plans to establish a terrorist base in Sokoto.
The intelligence was then returned to Nigeria. “We later discovered that the person we contacted, Ahmed Rufai Abubakar, is one of the individuals used by the West as a negotiator.
He supervises the terrorists and is also sent to a country called the Central African Republic. If the terrorists are arrested, he is the one responsible for bailing them out, as well as handling their weapons and providing money for food. He oversees the entire process,” Tiani explained.
“After learning this, things began to fall apart. We had trusted the wrong people, and once we discovered the truth, we were left unsure of who to trust or confide in about the situation in Nigeria.
“Meanwhile, Nuhu Ribadu is aware of the entire issue, but everyone involved has kept silent about it. “Having seen how things played out, we decided to take matters into our own hands. If the Lakurawa terrorists are arrested, we are now considering what to do.” Tiani added that France has launched its base in Benin Republic to also monitor neighboring countries that oppose them.
News
President fired by national assembly controlled by opposition
President Han Duck-soo impeached by South Korea’s National Assembly
opposition-controlled National Assembly has impeached South Korea’s acting President Han Duck-soo, following approval of an impeachment motion in a 192-0 vote on Friday amid rising political tensions in the Asian country.
Mr Han emerged as the country’s interim leader following the impeachment and suspension of President Yoon Suk Yeol by the National Assembly after declaring a contentious martial law.
Mr Han, the prime minister at the time, immediately climbed the ladder to fill the vacant seat.
However, the opposition lawmakers have now voted on Friday to impeach him over his refusal to appoint three judges to fill vacancies left by retired judges in the Constitutional Court.
This is the body that will be deciding whether to reinstate or formally remove Mr Yoon.
Six or more justices out of the nine-member court must vote in favour of impeachment to remove Mr Yoon from office and one dissenting voice in the former leader’s trial would overturn his impeachment.
The proceeding boycotted by governing party lawmakers was the first time an interim leader had been impeached in South Korea, raising questions about who is in charge of the government and military in the country.
Meanwhile, Choi Sang-mok, who is currently the finance minister and deputy prime minister, is the next in line to be named acting president.
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