News
UNCOMMON: Nominee rejects CBN board appointment in Nigeria

The Southeast nominee for membership of the Central Bank of Nigeria (CBN‘s) board of directors, Urum Kalu Eke, has rejected his appointment.
The Senate however confirmed the appointments of four others.
Rejection of appointment of membership of CBN board of directors by Eke from Abia state, came to the fore on Thursday during confirmation of appointments of four other nominees by the Senate.
The chairman of Senate Committee on Banking, Insurance and other Financial Institutions, Senator Adetokunbo Abiru (APC Lagos East), had in his report presentation for confirmation of the nominees by the Senate after screening exercise carried out on them, informed his colleagues that Mr Urum Kalu Eke didn’t attend the session.
He specifically informed the Senate that four other nominees – Mr Robert Agbede, Mr Ado Yakubu Wanka, Professor Murtala Sabo Sagagi and Mrs Muslimat Olanike Aliyu, appeared before the committee for screening and convinced it of their suitability for the appointments.
He thereafter, urged the Senate to confirm the appointments of the four nominees who attended the screening session and decline that of Kalu Eke who didn’t attend the screening exercise.
But for purpose of clarity, a member of the Committee, Senator Orji Uzor Kalu (APC Abia North), quickly rose to inform the Senate that Urum Kalu Eke being one of his constituents, told him that he was declining the appointment to avoid conflict of interest.
According to Senator Kalu, Urum Eke, is a consultant to the World Bank and other international financial institutions which would make him not have the required time to function well as a CBN director.
“Mr President, I’m a member of the committee that carried out screening on nominees forwarded to the Senate for appointment as members of Board of Directors of CBN by President Bola Tinubu”, Senator Kau said.
He added: “During the screening exercise, Urum Kalu Eke from Abia North, called me for not attending the session.
“He said as a consultant to the World Bank and other international financial institutions, he wouldn’t take the appointment to avoid conflict of interest.”
Who’s Urum Kalu Eke?
Urum Kalu Eke is a prominent figure in the Nigerian banking industry. He was born on October 17, 1966, in the town of Umuahia in Abia State, Nigeria. He obtained his Bachelor’s degree in accounting from the University of Nigeria, Nsukka, and subsequently went on to obtain a Master’s degree in business administration from the same institution.
Career
Eke has had an illustrious career in the banking industry, spanning over three decades. He began his banking career with Diamond Bank in 1992, where he worked in various capacities, including as an executive director and deputy managing director.
In 2014, he was appointed as the Group Managing Director/CEO of Fidelity Bank Plc, one of the top 10 commercial banks in Nigeria. Under his leadership, Fidelity Bank has made significant strides in the areas of digital banking, innovation, and sustainability.
Achievements
Eke has received numerous accolades and recognitions for his contributions to the banking industry. In 2020, he was named the Bank CEO of the Year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards.
He has also been recognized by various organizations for his leadership and achievements in the banking industry, including being named as one of the Top 50 CEOs in Nigeria by BusinessDay in 2019.
Personal Life
Eke is married with children and is known to be a private person who values his family time. He is also known for his philanthropic activities, including supporting education and healthcare initiatives in his community.
News
Just in: Another major headache as 3 PDP senators defect to APC

Another major headache as three Peoples Democratic Party (PDP) senators from Kebbi, on Tuesday, defected to the ruling All Progressives Congress (APC).
According to reports, their letters of defection were read separately on the floor of the chamber by Deputy Senate President, Jibrin Barau, who presided over the plenary.
The senators are: Adamu Aliero (Kebbi Central); Yahaya Abdullahi (Kebbi North) and Garba Maidoki (Kebbi South).
Details…
News
Court Jails Two Six Months for Naira Abuse in Lagos

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Thursday, May 8, 2025, secured the conviction and sentence of the duo of Babatunde Peter Olaitan and Tobilola Olamide to six months imprisonment each for mutilation of the Naira notes.
They were jailed by Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos.
The convicts were arraigned on a separate one-count charge of tampering with the Naira notes and spraying, to which they each pleaded “guilty”.
The charge against Olaitan reads: “That you, BABATUNDE PETER OLAITAN, on 8th April 2025, at 23, Macdonald Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with funds in the denomination of N200 (Two Hundred Naira) issued by the Central Bank of Nigeria by spraying it, and you thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007.”
The charge against Olamide reads:”That you, TOBILOLA OLAMIDE A.K.A TobiNation, on 8th April 2025, at 23 Macdonald Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with funds in the denomination of N200 (Two Hundred Naira) issued by the Central Bank of Nigeria by spraying it, and you thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007.”
In view of their pleas, prosecution counsel, C.C. Okezie and H.U.KofarNaisa, respectively, reviewed the facts of the cases through Ibrahim Bukar, an investigative officer with the EFCC.
In his evidence, Bukar specifically told the court that the Commission, on April 10, 2025, generated an intelligence-driven investigation on TikTok, where Olaitan, also known as TDollar, was seen spraying Naira notes.
He also told the court that “Upon the approval of the intelligence by the Zonal Director, a letter of investigation was sent to the defendant, requesting him to make a statement regarding the video.
“The defendant reported to the Special Operations Team, SOT, on May 5, 2025 and his statement was recorded under caution.
“He stated that he went to a night club on April 8, 2025 and met some of his fans sharing money.
“ He also said that a fan, in the process, gifted him a bundle of N200 notes, which he sprayed on some of his other fans.
“He was shown a video of him spraying the money and he made a statement regarding it.”
Consequently, the defendants’ extrajudicial statements and video recordings were rendered and admitted in evidence by the court.
Okozie and KofarNaisa, therefore, respectively prayed the court to convict and sentence the defendants accordingly.
Justice Owoeye convicted and sentenced both Olaitan and Olamide to six months imprisonment each, with an option of fine in the sum of N200,000 (Two Hundred Thousand Naira.
The convicts’ road to the Correctional Centre started when they were arrested by operatives of the EFCC for Naira abuse. They were charged to court and convicted.
News
$1.43m scam: Ajudua on the run as Supreme Court orders his return to prison

The Supreme Court has ordered the immediate remand of Lagos-based businessman and socialite, Fred Ajudua, in connection with a $1.43 million fraud case dating back over three decades.
In a unanimous ruling delivered on Friday, the apex court overturned the decision of the Court of Appeal, which had earlier granted Ajudua bail.
The court held that the appellate court erred in its judgment and directed that Ajudua be returned to correctional custody without delay.
It was learned that Ajudua is now in hiding following the court’s decision.
“Ajudua escaped after the Supreme Court ordered that he should be returned to prison,”, a source disclosed and its currently unclear if he is still in Nigeria.
The case, which has spanned more than 30 years, stems from allegations that Ajudua defrauded a German company of $1.43 million through an advance fee fraud scheme—commonly referred to as a “419” scam in Nigeria.
A letter dated August 26, 1993, from the Embassy of the State of Palestine accused Ajudua of obtaining the funds under false pretence from one Ziad Abu Zalaf, a Palestinian businessman based in Germany. The funds were allegedly siphoned under the pretext of business transactions with Nigerian government agencies.
It was gathered that Ajudua and his accomplice, Mr. Joseph Ochunor, fraudulently collected sums of $268,000 and $225,000 from Zalaf on April 2 and May 12, 1993, respectively. They forged official documents, including receipts from the Central Bank of Nigeria and the Nigerian National Petroleum Corporation, to make the transactions appear legitimate.
Following an extensive investigation, a 12-count charge was filed against Ajudua before the Lagos State High Court in Ikeja. Initially arraigned before Justice Josephine Oyefeso, the case was later reassigned to Justice Mojisola Dada following a refiling of charges.
Ajudua’s lawyer, Olalekan Ojo (SAN), later approached the Court of Appeal, where a panel led by Justice Mohammed Garba granted bail on the grounds of constitutional rights and allowed the businessman to continue under his existing bail terms.
However, In its decision on appeal number SC/CR/51/2019, the Supreme Court, through Justice Chioma Nwosu-Iheme, ruled that the Court of Appeal acted outside its jurisdiction by granting bail after striking out Ajudua’s brief of argument for incompetence. The apex court held that any judgment or relief stemming from such a defective brief was legally void.
The Supreme Court further ordered that trial resume before Justice Dada of the Lagos State High Court without further delay.
-
News23 hours ago
Go home to face corruption probe, protesters in London tell Kyari (Photos)
-
News19 hours ago
UK unions slam Govt’s decision to end care worker visas
-
News9 hours ago
US revokes governor’s visa
-
News9 hours ago
2nd Anniversary: Tinubu to commission Abuja International Conference Centre – Wike
-
News17 hours ago
SAD! Woman, child electrocuted in Edo
-
Metro9 hours ago
Tension in Ondo community as herdsman dies in clash with vigilance group
-
Sports17 hours ago
Brazil appoints Carlo Ancelotti as national team coach
-
News9 hours ago
Taraba Woos Global Investors Ahead of Landmark Economic Summit