News

Okpebholo freezes bank accounts, orders CP to end cult clashes

Published

2 hours ago

November 15, 2024

Edo State Governor, Monday Okpebholo, on Thursday, ordered the freezing of all state bank accounts with immediate effect, until further notice.

The governor warned commercial banks, heads of ministries, departments and agencies to comply with the order freezing the account immediately without delay.

The governor also asked the Commissioner of Police to halt the violent cult clashes in the state in 48 hours.

These were disclosed in statements by the Chief Press Secretary to the Governor, Fred Itua, on Thursday.

In one of the statements, the governor warned that anyone, including heads of MDAs and civil servants who flouted the order on the accounts would be severely punished.

He said, “All bank accounts in all the commercial banks have been frozen. Commercial banks must comply with the order and ensure that not a dime is taken out of the confers of government until there is further notice.

“Heads of ministries, departments and agencies must comply with this order and ensure that there is a full compliance without any further delays.

“After the necessary investigations and reconciliations, the governor will do the needful and decide on the way forward. For now, this order stands.”

The governor asked the relevant government agencies to reverse the Ministry of Roads and Bridges to the Ministry of Works.

Okpebholo said since no bridges or good roads were constructed by the administration of Godwin Obaseki, it was, therefore, absurd to maintain such a name.

He ordered relevant government agencies to implement the new order and immediately reflect the new name.

“It is funny how you can call a government institution the Ministry of Roads and Bridges. Ironically, no single bridge was built by the same administration. Not even a pedestrian bridge.

“In the coming days, we will look at more actions taken by the previous administration and more decisions will be taken that will be done in the best interest of the state.”

On the cult clashes, the governor asked the police commissioner to instruct his officers and men across the various formations to immediately swing into action and halt the unnecessary bloodbath.

The statement read, “As the governor of Edo State, cultism cannot be allowed here.

We must end it very fast too.

“I have ordered the Commissioner of Police to halt the madness within 48 hours. All those involved in the killings should be stopped.

“Some associations that are causing trouble in the state, especially in Benin City, cannot be allowed to operate.

“They all remain banned, and the commissioner of police must ensure that his men carry out this instruction by giving teeth to this ban.

“Edo must be safe. That was one of my key priorities during the campaigns and I plan to ensure that we restore it at all costs. We will not fold our arms and allow them to create unnecessary tension.”

Speaking late night on Wednesday, the governor said his traducers tried hard to pull him down but God gave him victory at the September 21 governorship election.

Speaking at a thanksgiving service at the Sam Ogbemudia Stadium, Benin, he also recounted how he found a dead bat on his bed hours before he was declared the winner of the election.

He urged Nigerians to trust in God alone, irrespective of their challenges in life.

In his words, “I want to thank God. In this last election, while I was praising God, they (traducers) were busy operating from Arise. They were busy operating from Facebook. They were busy operating from Channels.

“But, I took the battle to God because I know the secret. A few days before the election, they said this guy (Okpebholo) was crazy when we gathered to praise God in this state.

“They asked, ‘What is he doing?’ They were there at Arise. But, I was listening to the voice of God and I won the battle.”

He said after the election on Sunday morning, he came to his room and met a dead bat on his bed.

“After the election on Sunday morning, I came to my room. I met a dead bat on my bed, without me shooting any arrow. But, the spirit of God was there. The arrow of God; the hand of God delivered me.

“I am grateful to the men of God that stood in the gap. I am grateful to those who believe that with God, all things are possible. And I will advise you to trust in God alone because he will do it for you,” Okpebholo said.

The governor disclosed that he did not consult any native doctor, or prophet or visit any native doctor to seek help throughout the electioneering period.

The thanksgiving worship service had in attendance prominent politicians and clergymen, among others.

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.