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The leadership crisis at First Bank Holdings of Nigeria escalated on Wednesday when a group of stakeholders demanded the ousting of board chairman Femi Otedola and non-executive director Mr. Julius B. Omodayo-Owotuga. They are also seeking an extraordinary general meeting (EGM) within the next 21 days as permitted by section 215 (1) of CAMA. The shareholders claim that FBN has been troubled ever since former Central Bank of Nigeria Governor Godwin Emefiele facilitated Otedola’s acquisition of a large number of shares, which enabled him to become chairman in January 2024. They argue that with Otedola in charge, along with his personal staff Omodayo-Owotuga at the Holdco and another associate at the bank, Otedola has taken full control, acting unilaterally. Consequently, with the private placement of N1003 billion shares, other shareholders are worried that he will gain absolute control, allowing him to use First Bank as his personal financial resource without oversight or proper corporate governance. This is intended to enable Otedola to gain full control during the proposed N360 billion private placement. Some shareholders are expressing that rather than opting for a private placement for the bank’s shares, a rights issue or public offer should be pursued, according to an anonymous source who is also a stakeholder. There are claims that Otedola’s preference for private placement is viewed as a strategy to gain control and manage the financial institution as if it were his own property. Reports from DAILY POST indicate that there has been a struggle recently over who owns the largest share of FBN Holdings. This contention is primarily between Otedola and Barbican Capital, which is linked to the Honeywell Group owned by Oba Otudeko. In its audited financial statements for 2023, First Bank Holdings identified Otedola as the largest shareholder, holding a 9.41 percent stake in the institution. Otedola, however, has recently boosted his ownership by acquiring a large number of additional shares. Currently, the exact ownership stake is uncertain. However, data from the Central Securities Clearing System (CSCS), a widely recognized authority for verifying share ownership, indicates that Barbican Capital, linked to the Honeywell Group owned by Oba Otudeko, holds the largest single shareholding at 15.01 percent. Records from the bank’s registrars, Meristem Registrars & Probate Services Ltd, reveal that Barbican Capital owned 5,386,397,202 shares (5.38 billion) as of May 23, 2024, making it the largest shareholder. As a result, Barbican Capital has filed a lawsuit against FBN Holdings for inaccurately reporting its shareholding in its audited financial statement. In recent news, First Bank undertook a significant restructuring, resulting in the layoffs of approximately 100 senior staff members. Reports suggest that top executives were let go as part of a corporate restructuring plan for 2025, which coincided with the appointment of Olusegun Alebiosu as the bank’s managing director and chief executive officer in June of the previous year. There were also claims that these departures were part of a deliberate initiative by Otedola to bring in new leadership within the bank. At the same time, it remains uncertain how the Security and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) will respond to the demand for an Extraordinary General Meeting (EGM) intended to remove Otedola and halt the private placement of bank shares, which is a result of the Companies and Allied Matters Act (CAMA). When DAILY POST reached out to FBH spokesperson Tunde Lawanson, he had not yet replied to the request for comments at the time this report was filed. Additionally, FBN has not made an official statement regarding the issue.

On Wednesday, a truck transporting granite stone fatally struck a young man named Jelili Soretire on Ajebo Road in Abeokuta. The Volvo truck, with the registration number AAB917ZY, hit Jelili while he was riding his bike to deliver a repaired car door to a customer. Eyewitnesses reported that the accident happened at a damaged section of the road near Kemta Housing Estate, close to the Eco Gas Station in Idi-Aba, Abeokuta. Jelili’s body became trapped under the truck. The truck driver reportedly fled the scene immediately after the incident, which caused unrest among Jelili’s colleagues, but police from the Kemta Police Station were able to restore order. Jelili’s body has been taken to the morgue at the Federal Medical Centre in Abeokuta. Attempts to reach the police spokesperson, Omolola Odutola, were unsuccessful as her phone was turned off at the time of this report.

Manchester City have begun discussions to acquire 18-year-old defender Vitor Reis from Palmeiras during this January transfer window. The Premier League champions are eager to strengthen manager Pep Guardiola’s defense for the latter part of the season. Football transfer specialist Fabrizio Romano reports that Man City holds the top spot to secure the center-back, outpacing Brighton and other interested clubs. Romano also mentioned that City has offered an initial deal worth approximately €40 million for Reis. “Manchester City’s pursuit of Vitor Reis is currently active in Brazil.” “Even now and in the coming hours/days,” Romano posted on X. “The 18-year-old Brazilian center back is a main target after Brighton and other clubs had their bids turned down. Man City is making strong efforts with a €40m deal.” Rääkimine on kasulik. Agreement in place. Reis has been a part of Palmeiras since 2016, when he joined at the age of 10. He made his first-team debut last year and has been performing admirably. Reis would certainly strengthen Guardiola’s team, which is currently in 6th place in the Premier League with 34 points from 20 matches.

The Economic and Financial Crimes Commission (EFCC) has announced the conviction of Chima Hyginus Nkwocha, also known as “Young Billionaire,” for fraud through impersonation and money laundering. This information was shared in a statement by the Commission on its official X account on Thursday. The EFCC reported that Nkwocha faced charges of cheating by impersonation and money laundering before Justice Emeka Nwite at the Federal High Court in Maitama, Abuja, where he pleaded guilty when the charges were presented to him. Prosecution attorney Lanre Adeola Olanrewaju mentioned that Nkwocha was apprehended in August 2024 in the Lugbe area of Abuja after receiving intelligence from the EFCC’s Advanced Fee Fraud Section. Olanrewaju also noted that a black Mercedes Benz ML 350 with the registration number B-2 and its chassis number were involved in the case. 4JGDA5HB9DA105827, two gold necklaces with charms, one gold bracelet, $2,200.03 in cash, and N90,280,934.00 in the Ginux Global Nigeria Ltd Zenith Bank (account number). During his arrest, several items were seized from the convict, including a three-bedroom terrace duplex at Cookies Court 22, 2000nd Avenue, Ocean Palm Estate in Ogombo, Sangotedo, Ajah, Lagos, a three-bedroom bungalow, and two self-contained apartments located on Plot B2000, Standard Estate, Galadima, Abuja. Additionally, a plot of land approximately 2350 square meters in size at Eko Beach City, Lekki Phase 22, Lagos, was retrieved, along with two Zenith Bank drafts totaling N903,290,2280 and N0004.00,000,000, dated September 12, 2024, and October 17, 2024, respectively. The iPhone 2803 Pro Max, Samsung Galaxy S21 Ultra, and Samsung Galaxy S24 Ultra were mentioned. The Commission reported that Nkwocha admitted in court to impersonating Frank Nils, Frank Cobert, Frank Brown, and Chiress Riffatt using Gmail and Google Voice to scam Linda Wheeler, an American, out of $345,000. They expressed satisfaction with the EFCC’s presentations. Justice Nwite convicted Nkwocha and imposed a two-year prison sentence, with an alternative fine of N2,000,000. Furthermore, the court mandated the forfeiture of several items, deemed as proceeds of crime, to the Federal Government of Nigeria: a black Mercedes Benz ML 350, gold jewelry, $2,200 in cash, N90,280,934.00 from the Ginux Global Nigeria Ltd account at Zenith Bank, properties located in Lagos, Abuja, and Lekki, as well as the Zenith Bank drafts and electronic devices seized from the defendant.

Kelechi Iheanacho’s agent, Roger Wittman, has stated that Egyptian club Al Ahly has not reached out regarding a winter transfer for the forward. Iheanacho had recently been rumored to be interested in a move to the African champions, but Wittman denied any interest from Al Ahly. “No one from Egypt has contacted us about the player, so the reports are completely false,” he told AS. Iheanacho has had difficulty securing regular playing time at Sevilla since joining the club, failing to score or assist in nine league games for the Rojiblancos.

In Pakistan, law enforcement authorities apprehended two adolescent siblings for allegedly murdering their father by immolating him due to a history of ongoing sexual exploitation. This event transpired in Gujranwala on January 1, and the father subsequently passed away from his wounds at a medical facility on Tuesday. Rizwan Tariq, a high-ranking police officer in the area, disclosed to journalists that the girls confessed they planned to implement an enduring solution independently. Tariq elaborated that the sisters utilized gasoline from a motorcycle to set their father on fire while he was still asleep. He also mentioned that the step-sisters confessed that their father had been sexually assaulting their eldest sister for a year, and had attempted to attack the younger sibling twice. He stated that both mothers, who were married to the same man, knew about the abuse but were not informed of the sisters’ retaliation plan. The father’s name has not been disclosed to protect the girls, who have different maternal backgrounds. Authorities have arrested one mother, while the other is still under investigation. Tariq concluded that they plan to present the case before the court in a few days once the investigation is complete.

Afrobeats artist Oludipe Oluwasanmi David, known as Spyro, has shared that he spends more than N15 million each year on helping beggars. The “Who’s Your Guy” singer expressed his frustration about the ongoing pressure to support fans. He mentioned that individuals approach him for help both online and in person without offering any return support. Despite his ongoing generosity, Spyro recalled a painful incident where a stranger insulted him for being unable to give money at a specific time. He posted on Instagram, stating, “[It’s] really hard being a celebrity in Lagos.” I said to a guy that I had nothing and would meet him the following day. He hurled insults at me. Each day I leave my house, I spend at least N100,000 on gifts. Let’s do the calculations: if I go out three times a week, that’s N300k each week, totaling N1.2m monthly, which amounts to around N15 million annually. Why is that?

President Bola Tinubu has called on the military to take an aggressive approach in combating insurgency by targeting the camps of bandits and terrorists. This directive follows recent attacks on a military base in Damboa, Borno State, which resulted in the deaths of several soldiers. Tinubu specifically highlighted the need to focus efforts in the Northwest, where these criminals pose ongoing threats to the safety of innocent villagers. He expressed deep condolences to military leadership after the loss of six courageous soldiers in a terrorist attack on January 4, 2025. Tinubu’s message of sympathy, released by his Special Adviser on Information and Strategy, Bayo Onanuga, acknowledged the sacrifices of the fallen soldiers in defense of the nation. In light of this tragic event, he called for a comprehensive investigation to understand how it occurred and to learn from it to avoid future incidents. He praised the armed forces for their prompt and decisive response, particularly the air unit, which conducted effective retaliatory strikes that resulted in the substantial neutralization of many terrorists and the destruction of their resources as they attempted to escape. This decisive action by the Army showcases the military’s preparedness and ability to address and overcome threats to national security. Their actions demonstrate our determination to eliminate terrorism and banditry, leading to a future where peace and security are ensured for all Nigerians. “On behalf of a thankful nation, I express deep gratitude and support for our military and security forces. “Your sacrifices and commitment are recognized, and we fully support you in this ongoing battle against these threats. “I encourage the military to take the initiative and confront the camps of bandits and terrorists directly. He especially highlights the Northwest, where these offenders still pose a danger to the lives and homes of unsuspecting villagers.

Governor Abba Kabir Yusuf of Kano State asserts that the NNPP-led government is neither threatened nor intimidated by the actions of the APC, which aims to claim the state in the upcoming 2027 elections. Yusuf made this declaration at the Government House in Kano. It is worth noting that last year’s presidential candidate for NNPP, Rabiu Musa Kwankwaso, stated he would diminish the APC’s voter base in Kano during the 2027 elections. In response, Alhaji Bala Ibrahim, the APC’s Director of Publicity, claimed that the NNPP does not pose a threat to the APC. Additionally, not long ago, APC National Chairman Abdullahi Umar Ganduje stated that the APC is the frontrunner for the 2027 elections in Kano. During the 8th and 9th APC Kano State House of Assembly Forum Dinner honoring key party members, Ganduje expressed his astonishment at Kwankwaso’s assertion of public support. The recent former governor, represented by the State Chairman of the APC, Abdullahi Abbas, stated that Kwankwaso would not have won any elections without the internal problems within the APC. “I can swear to God, if it weren’t for our internal issues, he (Kwankwaso) would not have won any election in Kano.” This time, he will confront the truth. His previous supporters are now disillusioned and filled with remorse. “Kwankwasiyya has ended, and even the governor is oblivious to the situation around him,” he stated. In response, Governor Yusuf cautioned that anyone who threatens the people of Kano will face the consequences. “I want to be clear: anyone who poses a threat to the good people of Kano will suffer the repercussions.” We are prepared, and I will not hesitate to act firmly against them. “Regarding those who are discussing seizing power in 2027, I want to remind you that authority ultimately belongs to God. He is the one who bestows leadership, and we pray that He bestows it only on those who truly care for the welfare of the good people of Kano. “We have faith in God and understand that no matter how many may plot against us, they will not succeed if it is not God’s will.” We will not be frightened or coerced. “We’re not concentrating on 2027.”

Babafemi Ojudu, who previously served as Special Adviser on Political Matters to former President Muhammadu Buhari, has stated that former Ekiti State Governor Ayodele Fayose lacks honor and is unable to spell the word “politics.” Ojudu shared his experiences of defeating Fayose in the 2011 senatorial election in Ekiti State. He accused Fayose of resorting to vote-buying and claimed that the impoverished people of Ekiti contributed to his return as governor after his impeachment. Ojudu made these statements during an interview on Edmund Obilo’s podcast, State Affairs, on Thursday morning. He noted that despite Fayose’s financial resources for the campaign, he won by 68,000 votes to Fayose’s 28,000. Ojudu stated, “Fayose lacks honor now; he is dishonorable. He regained governorship because people are desperate, willing to vote for food and N5000, in a setting of poverty. I’m the only one who has ever defeated him in an election; he ran against me in the Senate race, receiving 28,000 votes while I got 68,000. This reflects my victory over him, despite his financial advantages—he had money to spend, and I did not. Additionally, a radio station hosted a debate between us, which was quite unbalanced.” When we arrived, I was dressed in my Agbada while he wore a t-shirt and jeans. As soon as he walked in, I noticed a phrase on his t-shirt that read “Politics is Serious Business,” but “politics” was misspelled. I felt pleased to have this guy with me today. I contacted my photographer and asked him to take a shot of his chest, which he did. Then, he started to accuse me of various things. He referred to me as a roadside journalist, and I was just biding my time. After we had exchanged various insults, the moderator announced, “We’ve reached the conclusion of the debate, but I’ll allow each of you two minutes.” Who will be the starter? “I told my governor that he needed to begin, and he mistakenly thought I was being polite, but I wanted to speak last so he wouldn’t have a chance to respond. Once he was done, I expressed that today was my saddest day because I wouldn’t know what to tell my 13-year-old daughter upon returning home – that the man who used to be our governor and wants to represent Ekiti in the Senate doesn’t even know how to spell politics. I’m bringing this to the attention of everyone at home: the former governor who aspires to go to the Senate can’t spell politics. Are we really going to keep allowing uneducated people in positions of power?” He just put his hands to his chest and dashed out of the studio; that was a shocking blow.