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Chieftains Of Makinde’s PDP Party Knock Oyo Governor Over ‘Excessive Borrowing’, Others



Stakeholders of the Peoples Democratic Party (PDP) in Oyo State have frowned on what they described as excessive borrowing by the state governor, Seyi Makinde, who is a member of their party.
A former deputy governor in the state, Alhaji Azeem Gbolarunmi, who addressed a press conference along with other party stalwarts said they are worried about how to campaign for the party in 2023.

At the press conference in Ibadan, the state capital, on Tuesday said, Gbolarunmi said, “The governor’s excessive borrowings keep getting huge, and all of these are contrary to the major vision of supporting his candidature in the first place.”
SaharaReporters reports that the Nigerian Debt Management Office (DMO) in March said Oyo State’s foreign debt stood at $85.27 million (N35.46 billion) while domestic debt was N142.56 billion as of December 31, 2021.

Gbolarunmi said, “It is established that one of the major political objectives of the PDP, which is to provide good governance that ensures probity and participatory democracy, and which guarantees human rights and fundamental freedoms of all person resident within the state, has not been fulfilled, despite all proposed interventions by stakeholders of the party.
“Some of the expected achievements from the governor, by members and elders of the Oyo State PDP that worked assiduously for him to be elected on the platforms of PDP, he has grossly disappointed them on, particularly, economy, insecurity, education, agriculture, healthcare, rule of law, the entrenchment of democracy, etc.
“Engr. Seyi Makinde never wanted to relate to the PDP platforms for deliberations and suggestions on how to move Oyo State. forward, to the credit of the state.

“He’d rather decided to run the state and the party singularly, particularly to discredit the party and all the well-meaning people that offered their unreserved support and labour. The scandal deliberately smeared on the party leaders and members was that they were all aggrieved because he did not open the treasury for them!”
He added, “Meanwhile, the governor’s excessive borrowings keep getting huge, and all of these are contrary to the major vision of supporting his candidature in the first place.
“Another major political objective of the party expected in Oyo State is using political power for securing the state. Many members and elders of the party are at present, also feeling quite unsafe in the state, as there had been various attacks on some members of the party, either at events venues or their residences.
“Whereas, the National PDP frowns on any form of recruitment, engaging, or sponsoring. encouraging or funding thugs or terrorists in whatever form, the Party stakeholders, therefore, do express dissatisfaction with the efforts of the governor. Not promoting the established political stability within the Party nor fostering unity and integration among the members, and also not safeguarding our core values in PDP are other significant deliberate attempts of the Governor, to undermine the party in Oyo State.

“It has even been a public mockery on the Party that for almost the entire three-year tenure of the Governor, his Deputy, a man much older than him for that matter, has been treated with much disdain and relegation, all of which have been major concerns, displeasure, and sadness to the stakeholders in Oyo State PDP.
“Unfortunately, HE, the Governor has no iota of respect for wise counsels and suggestions from State Members and Leaders of the Party, meaning, the Governor has never been ready to promote and nurture democratic ideals and traditions of the Party on a sustainable basis. These can be corroborated by various Reconciliatory Teams that PDP National had set up at various times, solely to address all the internal problems of the Party, in Oyo State.

“Taking a cue from National PDP, the political objective of the Party in the state would have been, to offer equal opportunities to hold political offices, and protect, defend safeguard the interests of all members state, including the minorities. The Party also expected to promote geopolitical balancing as a principle of power-sharing, with principled character.

News and Report

Wema Bank Emerges Best Performing Bank in Half year 2022





Nigeria’s most innovative bank, Wema Bank Plc, has emerged the best performing bank in the first half of year 2022 financial year with a weighted average score of of 2.83 points, beating 12 other bank’s.


According to a special report on the Nigerian banking performance in the first half of 2022 prepared by Nairametrics, Wema Bank ranked first in one category, second in three categories and third in one category. Stanbic IBTC and First Bank came second and third respectively..


The key metrics considered in the report are total asset growth, loan book growth, profit growth, cost-to-income ratio movement, and return on average equity.


The 13’reviewed banks which are listed on the Nigerian Exchange posted a net profit of N1 trillion in 2021 from N887.1 billion recorded in 2020.


The 13 reviewed banks are Wema Bank, First Bank of Nigeria, FCMB, GTB, Jaiz Bank, Access Bank, and Stanbic/IBTC. Others are UBA, Sterling Bank, Unity Bank, Union Bank, Zenith Bank, and Fidelity Bank.


During the first six months of 2022, the thirteen banks posted an aggregate of N501.1 billion as profit after tax, representing an increase of 13.1% compared to N443.17 billion recorded in the corresponding period of 2021


The banks grew their bottom line despite headwinds ravaging the global economy as the energy crisis triggered a significant surge in the operational costs of businesses operating in the country, while some banks were forced to ration their operating hours in a bid to manage the rise in the cost of operation.


Wema Bank came first in the category of

Leading bank’s by customer deposits growth . The bank recorded ±30.2 percent customer deposit growth during the review period, followed by Fidelity Bank and Access Bank with +13.1 percent and +12.8 percent respectively.


Wema Bank came second in three other categories – total assets growth rate (+13%), loan book growth rate (+19.9%) and profit after tax growth rate {+47.8%}.


Stanbic IBTC , the second place winner, ranked first in total asset growth rate and leading bank’s by cost to income ratio growth rate

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News and Report

Again! FCMB Lands IN Serious Trouble Over False Claim…… As Court Orders Bank To Pay N540m Damages.



First City Monument Bank (FCMB) is in hot soup as the Federal Capital Territory (FCT) High Court has ordered the bank to pay N540.5 million in damages to Pastor Emmanuel Omale of the Divine Hand of God Prophetic Ministry and his wife, Deborah over false claim that they laundered N573 million for former chairman of the EFCC, Ibrahim Magu.

Delivering judgement in the suit, Yusuf Halilu, the judge, held that the bank breached its “duty of care to the claimants,” the Omales and their church.

The judgment was on the suit marked: FCT/HC/CV2541/2020 filed by Mr. Omale, his wife and the church.

The judge held that the evidence before the court showed that the bank admitted error in its report to the NFIU of entries in the account of Divine Hand of God Prophetic Ministry which was accused of laundering money on Mr. Magu’s behalf.

Mr. Halilu also said the bank claimed that the purported N573 million was wrongly reflected as credit entry in Divine Hand of God Prophetic Ministry’s account by its reporting system, which it recently upgraded.

The judge held that FCMB admitted the error, which brought incalculable damage to the reputation of the claimants both within and outside the Nigeria – depleting their church’s membership.

Mr. Halilu said the claimants provided sufficient evidence to establish case of negligence against FCMB.

Consequently, the judge awarded N200 million as aggravated damages; N140.5 million as specific damages and N200 million as general damages.

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News and Report

More Troubles For Dangote Cement As Kogi Govt Demands 10 Per Cent Share, Orders Immediate Seal Off



However, Dangote Cement is facing allegations of sharp practice from Kogi State government, Kogi Assembly as well as Akwa Ibom State.Already, the Kogi State House of Assembly has ordered stoppage to the activities of the company in two Local Governments in the State while investigations continue.

To make the claim possible, Kogi State House of Assembly ordered the management of Dangote Cement company to provide all necessary documents that have to do with the transfer of Obajana Cement Company owned by Kogi state government to Dangote Cement Company.

The House also directed that the documents signed at the establishment of the Company and relevant receipts of dues it claimed to have paid to Kogi State Government available at the next adjourned sitting date.

The speaker of Kogi State House of Assembly, Matthew Kolawole, gave the order after interim reports of the ongoing investigative hearing on Internally Generated Revenue (IGR) which was submitted by the ad hoc committee led by Hon. Isah Tenimu Umar, Member Representing Lokoja I Constituency and deliberated upon at the plenary on Wednesday.

Kolawole said this has become important in view of the claims and counterclaims between the Chairman of Kogi State Internally Generated Revenue Service (KGIRS) and representatives of Dangote Cement as the acting chairman of KGIRS, Salisu Enehe had earlier accused Dangote Cement Plc Obajana of forging its tax receipt during the investigative hearing by the State House of Assembly.

According to the State Revenue Boss, most of the figures the company claimed to have paid are totally incorrect, urging the company to check its record.

He added that despite the billions of Naira that company is making from the state monthly, it has failed to pay taxes that are due to the state and Lokoja Local Government Area.

Nigerians Getting ₦1,593,247 Per Week From ₦99,000 Investment in Amazon
Nigerians Getting ₦1,593,247 Per Week From ₦99,000.

In another development, Following the unrestrained environmental degradation in Ankpa and Olamaboro local government areas, Kogi state House of Assembly on Wednesday, directed the Commissioner of Police and Commandant of the Nigeria Security and Civil Defence (NSCDC) to seal off operations of Dangote Plc in the affected areas of the State.

The House gave the order during a public hearing on activities of Dangote Group in the state, especially on the the massive exploitation , environmental degradation and non compensation to the affected owners of the land and without revenue accruing to the state government.

The Speaker, Kogi state House of Assembly, Mathew Kolawole, charged the NSCDC commandant to ensure immediate implementation pending when the ad hoc committee on revenue clarifies some grey areas. Kolawole, who lamented the environmental degradation caused by mining activities on Kogi by the Dangote group and its subsidiaries, accused the multi national business concern of making billions in the state but yet fails to give back to it.

Akwa Ibom is also finding it difficult to collect its entitlement from the Dangote Group. According to reports from the place, the Itu Local Government blocked Dangote premises with their trucks because the company has refused to pay tax for more than two years despite pleas and series of warnings.

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