News

Protest: Atiku condemns killings, govs pledge to address demands

Published

3 months ago

August 3, 2024

Admin

Former Vice President Atiku Abubakar and some state governors have offered varied reactions to the hunger protest that began across the country on Thursday, August 1, and continued yesterday.

Taking to their respective official X (formerly Twitter) handles on Friday, the governors of Adamawa, Delta, Taraba, Lagos, Imo, Kaduna, Edo, and Bayelsa vowed to tackle the stated demands of protesters in their states.

Atiku, however, condemned the killings of some of the protesters and the alleged physical assault meted out on journalists by security operatives during the demonstrations.

At least 17 persons were reported to have been killed during the protests in Abuja, Kano, Niger, Borno, Kaduna, and Jigawa on Thursday.

In a statement shared on his official X handle on Friday, the 2023 presidential candidate of the Peoples Democratic Party said, “The demonstrations had opened a vital channel for the public to express disapproval of government policies, furthering the essential conversation about good governance in our nation.

“For the most part, protesters have conducted themselves with admirable peace and must be commended for their restraint and dedication. However, in some isolated instances, there have been reports of violence, leading to regrettable clashes and brutalities by the police.”

While calling on the police to engage more professionally in managing the protests, Atiku said, “The needless killing of innocent citizens by security agencies is unacceptable. The police must refrain from the molestation of journalists who are merely reporting the protest. It is imperative that security agencies exercise restraint while enforcing law and order.

“Security agencies are encouraged to identify and isolate the minority elements who are resorting to violence and looting, ensuring that the actions of a few do not tarnish the majority of peaceful protesters.”

Atiku urged the protesters to maintain their peaceful stance, and he admonished the government to heed the voices of the people and demonstrate a sincere commitment to addressing the demands of the protesters.

In a statement shared yesterday on the X handle of the Special Adviser on Media and Publicity to Governor Babajide Sanwo-Olu, Gboyega Akosile, the Lagos State government commended the peaceful nature of the protest in the state and reiterated the readiness of the Federal Government to reverse the situations that led to the protests.

The statement read partly, “The Lagos State Government has watched closely today’s protest in some parts of the state and would like to put on record the peaceful conduct of Lagosians.

“The message of the protest – hunger in the land – has also been well noted. It is, however, important to reiterate the fact that the Federal Government is taking steps to reverse the situation.”

Similarly, in a post shared on his verified X handle, the Taraba State Governor, Agbu Kefas, wrote, “As a government, we will continue to do our best regardless of the limited resources available, by prioritising issues that will develop our economy and the younger population. They are the future and we have to secure the future, now.

Meanwhile, the President of the International Human Rights and Dignity Defenders, David Vine, in a phone interview with Saturday PUNCH, blamed the death and destruction that took place in the course of the nationwide protests on the nonchalance of the government.

News

AFCONQ 2025: Nigeria’s Super Eagles fail to beat Benin Republic in Abidjan

Published

2 hours ago

November 15, 2024

Kayode Sanni-Arewa

Nigeria’s Super Eagles on Thursday failed to beat Benin Republic in their 2025 Africa Cup of Nations, AFCON, qualifier as two West African neighbours settled for a 1-1 draw in Abidjan

With the results, Nigeria officially qualified for the TotalEnergies CAF AFCON, securing a top-two finish in Group D,

Benin opened the scoring in the 16th minute when Mohamed Tijani capitalized on a corner delivery from Junior Olaïtan, heading the ball into the center of the net.

The Super Eagles found themselves trailing despite creating opportunities, with Victor Osimhen and Moses Simon both testing Benin’s defence.

In the second half, Nigeria intensified their attack and were rewarded in the 81st minute when Osimhen met Simon’s cross with a precise header to level the score.

Benin fought hard to reclaim the lead, but Nigeria’s defence held firm, preserving the draw.

Nigeria’s qualification for TotalEnergies CAF AFCON marks a relief for fans and sets the stage for their preparations for the tournament. Benin, meanwhile, remains in contention but will need positive results in their final game to have any chance of progressing.

News

Wike suspends FCDA secretary indefinitely

Published

2 hours ago

November 15, 2024

Kayode Sanni-Arewa

The Minister of the Federal Capital Territory, Nyesom Wike, has suspended, with immediate effect, the Executive Secretary of the Federal Capital Development Agency, Shehu Hadi Ahmad, indefinitely.

This was made known in a statement by the Senior Special Adviser to the Minister of Public Communication and Social Media, Olalere Olayinka, on Thursday.

Circumstances leading to or surrounding the suspension of the secretary were, however, undisclosed as of the time of filing this report.

According to the statement, the suspended Executive Secretary has been consequently directed to hand over to the Director of Engineering Services in the FCDA.

News

UBA to raise N239bn via rights issue

Published

2 hours ago

November 15, 2024

Kayode Sanni-Arewa

United Bank for Africa Plc has issued 6,839,884,274 ordinary shares of 50 kobo each at N35 per share in a rights issue to raise N239.4bn in a bid to meet the fresh capital requirements of the Central Bank of Nigeria.

The rights issue which opened on Friday (today) allows existing shareholders to purchase one new ordinary share for every five existing ordinary shares held by shareholders as of November 05, 2024.

In late March, the CBN announced an upward review of the minimum capital requirement for banks in the country.

In a letter to the shareholders informing them of the rights issue, the Group Chairman of United Bank for Africa, Tony Elumelu, noted that following the resolution of the Group’s shareholders at the Annual General Meeting held in May 2024, authorising the establishment of the N400bn Equity Shelf Programme, UBA will embark on a Rights Issue, as the first step in its broader capital raising programme.

“UBA’s Rights Issue aims to raise N239.4bn, through the issuance of new ordinary shares to our shareholders. The primary objective of this rights Issue is to further strengthen our capacity to take advantage of growth opportunities and sustain our leadership in the banking industry,” Elumelu said in the letter.

On the use of proceeds, Elumelu noted that, beyond regulatory compliance, the funds will expand the Group’s lending capacity, invest in digital infrastructure, support sustainable business practices, and expand the group’s African operations.

Elumelu also highlighted how UBA is driving economic growth across Africa, saying “Our historic partnership with the Africa Continental Free Trade Area Secretariat, where UBA pledged up to $6bn in financing over the next three years to support eligible SMEs across Africa underscores our commitment to fostering economic development.”

It was revealed that application for the provisional allotment of the Rights to the new ordinary Shares will be made exclusively through the NGX e-offer portal, during the offer period, while existing shareholders may also apply for additional shares above their provisional allotment as described in the Provisional Allotment Letter. Shareholders who are customers of the Bank are also encouraged to access their Rights through UBA’s internet banking and mobile banking channels.

At the end of the third quarter, the gross earnings of UBA appreciated by 83.2 per cent year-on-year to N2.39tn from N1.31tn in the same period of 2023. Its profit before tax went up by 20.2 per cent to N603.48bn from N502.09bn in Q3 2023, while profit after tax also rose by 16.9 per cent to N525.31bn from N449.26bn recorded a year earlier.

The lender’s total assets rose to N31.80tn, representing a 54.0 per cent increase over the N20.65tn recorded at the end of December 2023.

In the 2023/2024 report year, UBA won ‘Bank of the Year’ awards in eight of its subsidiaries – Cameroon, Chad, Ghana, Cote d’Ivoire, Mozambique, Republic of Congo; Sierra Leone; Tanzania, as well as the Regional Award for Africa and in 2024 has won World Best Frontier Markets Bank and Best SME Bank Africa.

UBA Plc offers banking services to more than 45 million customers, across 1,000 business offices and customer touch points in 20 African countries.