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Alleged Libel: Dende Egungbohun demands retraction, N5 billion damages from Arise

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By Kayode Sanni-Arewa

Legal representatives of Alhaji Ibrahim Dende Egungbohun have issued a formal notice to Arise Television regarding a documentary aired by the network on or about February 23, 2024.

By the notice, they demanded a retraction of the report and payment of five billion Naira in general damages following what they described as a libelous portrayal of Egungbohun.

In the letter addressed to the Chairman/Chief Executive of Arise Media Group, solicitors representing Egungbohun, chambers of Bola Aidi, SAN, highlighted several allegations made against their client in the documentary.

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These, they said, included branding him as a notorious smuggler, Ilaro’s biggest smuggler, and insinuating his evasion of prosecution due to his connections to powerful figures.

Furthermore, the documentary, they said, alleged that IBD International Hotels in Ilaro were constructed with proceeds from smuggling activities and accused Egungbohun of multiple arrests for smuggling, including gun smuggling.

The legal notice asserted that the documentary’s content implied that Egungbohun was involved in arms smuggling and had evaded justice due to his alleged connections within society, including politics and the media.

The notice also accused Arise Television of utilizing the documentary as a tool for propaganda, aimed at tarnishing Egungbohun’s reputation and businesses, and potentially coercing legal action against him.

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The letter criticized Arise Television for disregarding journalistic ethics by recruiting faceless individuals to level allegations under the guise of investigative journalism.

It argued that the implications of these accusations extended to branding Egungbohun as a supporter of terrorism, banditry, and armed robbery.

Furthermore, the legal representatives highlighted the detrimental effects of the documentary on Egungbohun, including social ostracization and damage to his businesses, particularly IBD International Hotels Ltd.

They thus demanded a retraction of the documentary and an apology to be aired daily for the next 30 days, alongside payment of five billion Naira in damages.

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The legal notice concluded by setting a two-week deadline for Arise Television to meet the demands, failing which legal action would be pursued against the organization.

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Access Bank Becomes First to Meet CBN’s Minimum Capital Requirement with N351bn Rights Issue

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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.

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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.

He said: “The Access brand has always resonated strongly with local and international capital markets. Since 2004, Access Bank has raised billions of dollars in capital to meet successive CBN recapitaliation directives. We are pleased that this time, we are the first to cross the finish line.
“The success of the Rights Issue demonstrates the resilience of Nigeria’s capital market and reinforces our shareholders’ confidence in the present value and potential of our company.
“We deeply acknowledge the invaluable and strong support of the Central Bank of Nigeria and the Securities and Exchange Commission, who both played crucial roles in ensuring the integrity and efficacy of our Rights Issue exercise.
“We are also grateful to our valued shareholders, whose loyalty to the Access brand and vision for over 22 years has been most inspiring and unwavering. As we enter the new year, we are well-positioned to leverage our enhanced capital base to deliver sustainable value for our stakeholders.”
Access Holdings Plc operates through a network of more than 700 branches and service outlets, spanning three continents, 23 countries, and over 60 million customers.
The company serves its markets through four subsidiaries in banking, payment, pension administration, and insurance sectors: Access Bank Plc, Hydrogen Payment Services Company Limited, Access Pensions Limited, and Access Insurance Brokers Limited.
Access Bank Plc serves its markets through three business segments—Corporate and Investment, Commercial, and Retail—and has enjoyed Africa’s most successful banking growth trajectory in the last 22 years.
Following its merger with Diamond Bank in March 2019, Access Bank Plc became one of Africa’s largest retail banks by customer base and Nigeria’s largest bank by total assets.
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I’m optimistic about Nigeria’s future, says Shettima

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Vice President Kashim Shettima has expressed optimism about Nigeria’s future, reaffirming the commitment of the Federal Government to national security, economic transformation, and the well-being of all citizens.

In a Christmas message on Wednesday, Shettima assured Nigerians that the administration of President Bola Tinubu is resolute in its efforts to tackle critical issues such as security and economic challenges, as the country prepares for the coming year.

“As we approach a new year, I want to reassure you that President Tinubu’s administration remains fully dedicated to improving the lives of all Nigerians. We are committed to tackling economic transformation and enhancing the welfare of every citizen,” Shettima said.

Highlighting Nigeria’s diversity as a strength, the Vice President called on Nigerians to use the festive period to strengthen unity across all regions and faiths, fostering a spirit of togetherness.

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“Our nation’s greatest strength lies in its diversity. This holiday season offers us the perfect opportunity to strengthen the bonds of brotherhood that unite us,” he stated.

Shettima also assured Nigerians of the continued vigilance of the nation’s security forces, emphasising that security personnel would remain on high alert during the holiday period to ensure safety.

“Our brave security personnel will continue to work tirelessly to protect us. Enhanced security measures are in place to safeguard citizens during the festive season,” he said, urging travelers to stay vigilant.

Looking to the future, Shettima expressed hope and confidence in the country’s trajectory.

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“I am filled with hope and optimism about Nigeria’s future. Together, we will build a more prosperous and united nation,” he said.

Addressing the nation’s youth, Shettima emphasised their crucial role in Nigeria’s development and outlined the government’s initiatives aimed at creating opportunities for them.

“To our young people, you are the backbone of our nation. The Renewed Hope administration is rolling out various initiatives to empower you, enabling you to thrive and contribute to Nigeria’s growth,” Shettima said.

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Address unemployment, extremism to end insecurity – Kukah

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The Bishop of Sokoto Diocese, Matthew Kukah, has said Nigeria’s protracted insecurity cannot be resolved without addressing unemployment and violent religious extremism, which he described as breeding grounds for violence.

Delivering his Christmas message at the Holy Family Cathedral Catholic Church, Sokoto Diocese, Kukah lamented the nation’s lack of measurable progress, which he attributed to a preference for “darkness rather than light.”

“Nigeria’s lack of visible and measurable progress is tied to the fact that we have chosen darkness rather than light,” he said. “Imagine if we let the light shine on our public service, on our politics, on our individual, community, and national life, and on our public institutions. Imagine what Nigeria would be like if we chose light instead of darkness.”

The cleric stressed that meaningful change requires embracing transparency, accountability, and integrity in both public and private life. He urged Nigerians to embody the Christian hymn “They will know we are Christians by our love” and to reject the divisive forces of ethnicity, nepotism, and greed.

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“We are still unable to embrace the ideals of our national anthem that says: ‘Though tribe and tongue may differ, in brotherhood we stand.’ Diversity is a gift from God. Let us use it effectively as a tool for national mobilisation and cohesion,” he said.

Kukah identified unemployment and religious extremism as major drivers of insecurity, adding that tackling these issues is essential for stability.

“Insecurity cannot be overcome without addressing unemployment and violent religious extremism, which breed conditions for violence,” he said. He further called for the strict enforcement of laws to prosecute extremists, describing them as “criminals and murderers.”

The Bishop commended the passage of the Not Too Young to Run Bill and the enactment of the Student Loan Act 2024, noting their potential to expand opportunities for young Nigerians.

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“It is significant that the act does not limit access to university students alone. We hope this project will be free of bureaucratic bottlenecks and favouritism, ensuring that poverty does not exclude anyone from receiving a good education,” Kukah stated.

He urged the youth to seize these opportunities but noted ongoing barriers such as high political participation costs and weak internal democracy.

Speaking on the recent tragedies in Okija, Ibadan, and Abuja, where stampedes during food distributions led to loss of lives, Kukah described these incidents as “metaphors for the desperation Nigerians face daily.”

“These tragedies were avoidable. The government must collaborate more effectively with institutions that promote the common good to prevent such loss of life,” he said.

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Kukah praised the Catholic Church’s efforts to support vulnerable communities through organisations like St. Vincent de Paul and called on the government to do more in safeguarding citizens’ dignity.

Bishop Kukah also encouraged Christians to stay committed to their faith and moral responsibilities, regardless of the nation’s systemic failures.

“We are the light of the world, a city on a hill that cannot be hidden. We must not allow the weaknesses and failures of the Nigerian state to become an excuse for doing wrong,” he said.

He urged Christians to prioritise divine law over human systems, noting, “The Constitution has its flaws, but the Word of God is a divine command, inerrant, and written in the hearts of good Christians.”

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As the nation continues to grapple with insecurity, poverty, and corruption, Kukah called on all Nigerians to choose the path of unity, love, and accountability for a brighter future.

“As we celebrate Christmas, let us open our hearts and commit to living the ideals Jesus taught us. May this season bring joy, and the new year bring blessings,” Kukah said.

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