By Francesca Hangeior

First Bank of Nigeria Limited has described media reports alleging that it abused court processes in its legal battle with General Hydrocarbons Limited (GHL) as false and misleading.

In a statement released on Tuesday, the bank clarified that it had fulfilled its obligations under the loan agreements. However, the dispute began when First Bank demanded good governance and transparency in the transactions—demands that GHL allegedly rejected.

The statement emphasized that, as a responsible and law-abiding corporate entity with deep respect for the judiciary, First Bank will not comment on matters currently before the courts, as these are sub judice.

However, the bank expressed its concerns over what it described as “sponsored but false narratives” being circulated in some media outlets.

According to First Bank, the legal tussle stems from a commercial transaction in which it extended significant credit facilities to GHL to finance the development of certain Oil Mining Lease (OML) assets. The bank asserts that these facilities were governed by robust loan agreements that outlined the obligations of both parties and detailed the security arrangements.

The statement further alleged that breaches by GHL, including the diversion of proceeds, prompted First Bank to demand the appointment of an independent operator to manage the financed assets transparently. This request, the bank says, was in line with the terms of the agreement.

When GHL refused to comply, First Bank initiated a court case to protect its interests. The bank also accused GHL of pursuing “unnecessary arbitral proceedings” in response.

First Bank maintains that its decision to take legal action was necessary to safeguard its assets, recover diverted proceeds, and ensure that similar breaches do not occur in the future.

The bank assures its numerous customers, stakeholders and the general public that it remains solid, calm, steadfast and unflinching in its resolve to continue to provide first-class services to its teeming customers within and outside the country.

FirstBank also thanked its shareholders for the indicatively over subscribed Rights Issue of its parent Company, First Holdco Plc in the first round of its capital raise and looks forward to an equally successful final leg of the recapitalization exercise when it is announced by FirstHoldCo.

By Francesca Hangeior

 
Morocco has crowned itself Africa’s most-visited destination, welcoming 17.4 million tourists in 2024—just a year after a deadly earthquake struck near its star destination, Marrakesh.  

 
The milestone gives Morocco an edge over Egypt, which had long led the continent in tourism. Egypt also broke its own record, attracting 15.7 million visitors in 2024, but it wasn’t enough to hold on to first place.  

Tourism revenue in Morocco also hit a new high in 2024, reaching $11 billion, up from $10.5 billion the previous year, according to the Ministry of Tourism.  

While no central authority tracks arrival numbers for all African nations, UN Tourism data shows North African countries consistently dominate. Egypt, with its pyramids and the Nile, and Morocco, famous for its mountains, medinas, and celebrated cuisine, are in a league of their own on the continent.  

By contrast, safari destinations in sub-Saharan Africa, such as South Africa and Botswana, attract far fewer visitors and earn only a fraction of North Africa’s tourism revenue.  

Morocco’s 2024 numbers mark a 20 percent rise from 2023 and a more than 33 percent increase from pre-pandemic 2019 levels, when the country welcomed 13 million tourists. This surge has also put Morocco two years ahead of its tourism projections.  

The rebound has been especially noticeable in Marrakesh, Morocco’s most visited city, which has recovered from both the Covid-19 tourism slowdown and the deadly September 2023 earthquake.  

“We struggled after the earthquake. But today, things are better than ever. We’ve been fully booked for months,” said Nassim Ait Said, manager of Riad Nelia, a boutique hotel in Marrakech’s old square. “People are back to enjoy the beauty of Marrakech.”  

However, the same cannot be said for the surrounding Atlas villages, once a haven for hikers and nature enthusiasts.  

“The sight of tents and damaged homes doesn’t help attract sceptical tourists,” said Driss Zehrour, owner of Riad Vallée Vert in Douar Taourirte, near Asni, 50 kilometres from Marrakesh. “Unlike Marrakesh, people are still scared to come here.”

Hotel owners in the hardest-hit villages report occupancy rates below 10%. Rebuilding has been agonisingly slow; ruins and makeshift camps are still scattered across the region more than a year after the earthquake.

Residents, who have been protesting since last year against the lack of action, say the government has offered no explanation or reassurances.  

While the recovery remains uneven, Morocco’s tourism ministry wants to break more records.

“These remarkable figures represent a major step towards our goal of positioning Morocco among the top 15 global tourist destinations”, Tourism Minister Fatim-Zahra Ammor said in a press release last week.

To break into the top 15, Morocco would need to overtake countries like Japan, which welcomed 25 million international tourists in 2023, the most recent year for which UN data is available.  

Ammor highlighted several factors driving Morocco’s growth in a social media post, including the introduction of 120 airline routes in 2024—such as United Airlines’ Newark-Marrakech nonstop—and new luxury hotels from brands like Four Seasons and Nobu across the country.  

Morocco has also leveraged the success of its national football team, the Atlas Lions, who made history as the first African team to reach the World Cup semifinals in 2022.

Their success is now woven into Morocco’s tourism promotion. Trailers showcasing the Atlas Lions greet visitors at Marrakech airport, murals of Achraf Hakimi’s Panenka and Yassine Bounou’s iconic saves adorn streets, and the team’s legend continues to attract fans from around the world.

The record-breaking year comes as Morocco prepares to host the Africa Cup of Nations (AFCON) from December 2025 to January 2026, an event expected to draw soccer fans worldwide.  

By 2030, when Morocco is set to co-host the FIFA World Cup with Spain and Portugal, the country aims to welcome 26 million tourists annually—50 percent more than its current figures.  

By Francesca Hangeior

The Federal Government is set to grant presidential pardons to convicts serving various jail terms across custodial centres in the country.

To initiate the process, the government on Wednesday inaugurated the Presidential Advisory Committee on the Prerogative of Mercy, with the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), as Chairman.

The committee includes representatives from the Nigeria Police Force, the Nigerian Correctional Service, the National Human Rights Commission, the Nigerian Supreme Council for Islamic Affairs, and the Christian Association of Nigeria, alongside other notable members such as Justice Augustine Utsaha, Prof. Alkasum Abba, Chief Akinlolu Olujinmi (CON, SAN), and Prof. (Mrs.) Nike Ijaiya.

Speaking during the inauguration, the Secretary to the Government of the Federation, George Akume, said Section 175 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) confers special powers of prerogative of mercy on the President.

He added that the Committee has a four-year tenure, and its membership is drawn from relevant Ministries, Departments and Agencies, as well as representatives of religious bodies and four eminent Nigerians.

Akume said, “Section 175 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) confers special powers of prerogative of mercy on the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. This power enables the resident to grant pardon to any person convicted of an offence created by an Act of the National Assembly.

“In consequence of this Constitutional power, a Presidential Advisory Committee on Prerogative of Mercy is to be constituted as an administrative body with the mandate to provide and facilitate a seamless and smooth exercise of the power by the President. The Committee has a four-year tenure, and its membership is drawn from relevant line Ministries, Departments and Agencies as well as representatives of religious bodies, and four (4) eminent Nigerians.”

Speaking on behalf of the committee members, the AGF said his office had received an overwhelming number of requests for a presidential pardon.

He said, “Already, my Office has been inundated with applications for presidential pardon and clemency. We are to look into these applications and advise on their merits as appropriate. We assure Nigerians that we will carry out our assignment objectively in the public interest and the interest of justice. ”

Fagbemi noted that the committee’s assignments were not to undermine the decision of the courts but to carry out the duty the constitution mandates the president.

He said, ” We must also state that our assignment is in no way a review of the decisions of the courts but a discharge of a mandate imposed on Mr. President by the Constitution of the Federal Republic of Nigeria.

“After our assignment, the Committee would be required to present its Report and actionable recommendations for onward transmission to Mr. President for consideration and further directives.”

Fagbemi said in carrying out their assignment, the Committee members might need to visit Correctional facilities across the six geopolitical zones before making their recommendations.

He said, “The committee might be required to visit Correctional Facilities in various States of the Federation, cutting across the six Geo-political Zones of the country, beginning from where the last exercise ended, to critically appraise and identify potential cases of convicts and ex-convicts towards recommending them for Presidential Pardon or Clemency as appropriate.”

The last presidential pardon was granted under former President Muhammadu Buhari in 2022, with a total of 159 convicts receiving clemency.

Among those pardoned were Joshua Dariye and Jolly Nyame, a development that generated a lot of controversy.

Dariye, who served as Plateau State governor from 1999 to 2007, was sentenced to 14 years in prison for embezzling N1.16 billion. Similarly, Nyame, the governor of Taraba State from 1999 to 2007, received a 12-year sentence for misappropriating N1.6 billion.