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About six months to the deadline for the conclusion of the recapitalisation programme of the Central Bank of Nigeria (CBN) for all deposit money banks to raise minimum capital, banks are intensifying their capital raising drive to meet the target.

One of the expected fall-outs of the ongoing capital raising programme of the CBN is what industry analysts call MandA known in full as merger and acquisition. While some banks may be acquired outright, others would merge to become an entity strong enough to meet the recapitalisation.

The Providus-Unity Bank followed the latter in an effort to form a strong synergy not only to meet the recapitalisation but to strengthen the financial system, boost investors’ confidence and give value to the shareholders.

Recently shareholders and boards of Providus Bank and Unity Bank overwhelmingly approved a business combination of the two institutions at a court-ordered Extraordinary General Meeting, marking a significant moment for Nigeria’s banking sector.

In a joint statement, both banks expressed deep appreciation to the apex bank for its foresight, determination and steadfast support of a stronger financial system.

According to them, the regulator’s backing of the transaction underscores its commitment to resilience, stability, and customer confidence.

‘This regulatory support is not only shaping healthier banks, but also inspiring the confidence of businesses, investors, and everyday Nigerians that our financial system is ready to serve as a cornerstone for sustainable growth,’ the statement noted.

The vote was also a signal to the markets, to regulators, and to the wider public that Nigeria’s banking sector remains robust and forward-looking.

In affirming the merger, the statement said shareholders have helped to reinforce the confidence that underpins economic stability.

‘It is a statement that Nigerian banks are prepared to adapt, consolidate, and grow in line with the Central Bank of Nigeria’s vision of a stronger and more resilient financial system-and ultimately, its aspiration to support Nigeria’s transition into a trillion-dollar economy.’

The merged institution will launch with a solid capital base, a nationwide footprint of approximately 230 branches, and the capacity to serve businesses, households, and government agencies across the country.

Unity Bank brings to the table an age-long legacy of seamless service to customers while Providus adds a reputation for innovation and excellent digital banking platforms, creating a combined bank capable of competing at the highest level.

‘The enlarged bank will provide the backbone for businesses to thrive and communities to prosper’, the statement assured.

The statement added that the merger of the two institutions, when completed, would secure jobs, protect livelihoods, and create new opportunities within a bigger, stronger, and future-oriented institution. ‘The success of this merger rests not only on systems and balance sheets but on people-and their contribution will be safeguarded and celebrated.’

‘This historic transaction is not simply about numbers; it is about confidence in the Nigeria financial system. By combining Providus Bank and Unity Bank, we are creating an institution of scale and substance- that will give confidence to customers, strength to the financial system and create opportunity for our people,’ the statement added.

Following the deal, Providus climbed into the top tier of Nigeria’s lenders, emerging as the ninth-largest bank by assets after its merger with Unity Bank, bringing stronger capital adequacy, broader reach, and more enhanced digital footprints.

Analysts say the merger represents not just the unification of assets but also a strategic step towards creating a stronger, healthier and more competitive financial institution ready to take on bigger exploits in no distant future.

‘This merger represents stability, confidence, assurance and sends a strong message to the investing public that the new entity is ready for business.

At a time when the Unity Bank brand struggles to maintain a strong balance sheet, the merger with Providus provides an opportunity to scale up and boost customers’ confidence.

The Providus-Unity deal also represents a test of the industry’s ability to inspire confidence. By prioritising transparency, safeguarding shareholder interests, and building a culture of accountability, analysts say the new entity is expected to play a central role in deepening financial inclusion and restoring public confidence in Nigeria’s banking system.

The success of this merger could well determine how future business combinations are perceived-not merely as survival strategies, but as platforms for lasting value creation.

In addition, the merger ushers in a new chapter – a bank that is bigger in ambition, broader in reach, and stronger in capacity.

With enhanced technology platforms, deeper capital strength, and a commitment to customer service, the enlarged bank will stand as both a guardian of stability and a catalyst for growth in Nigeria’s journey toward a trillion-dollar economy.

Providus Bank began operations in June 2017. It is licensed by the Central Bank of Nigeria to provide banking services to individuals and businesses. The bank has a strong IT infrastructure and digital channels which it deploys to provide exceptional service to our customers so they can achieve their objectives.

Providus Bank is an innovative ?nancial institution that provides personal, private, corporate, commercial and digital banking products and solutions.

Its tailored ?nancial services delivery includes: Business Advisory, Portfolio Management, Personalised Relationship Management, Fast-tracked Service delivery and Self-service solutions. Providus Bank competitive advantage in Private, Institutional, Business and Personal Banking is driven by the philosophy to create support and value for Institutions, Agencies, SMEs and HNIs.

Its business development strategy also focuses on developing expertise and collaborating to improve the non-oil (emerging) sector of the Nigerian Economy, which includes but not limited to Agriculture, Mining, Hospitality, E-commerce, and Art and Entertainment.

Providus Bank believes that the New World of Fast, Smart, Personal, and Borderless banking relationship is here. We are therefore inspired by our Future Forward Banking ethos to make life (at work and leisure) more exciting for our partners with the use of cutting-edge technology that delivers best-in-class customer satisfaction.

In less than 10 years, Providus Bank has emerged as one of the fastest-growing financial institutions in the country.

Through this merger, Providus aims to transform from a niche player into a national bank, leveraging Unity Bank’s over 211-branch network spread across all 36 states and the FCT.

Speaking recently following the bank’s recognition as one of the best workplaces in banking in 2025 by the Great Place to Work (GPTW), the Managing Director/CEO, Providus Bank, Walter Akpani, attributed it to the quality of staff at the financial institution.

‘Our people are at the very heart of what we do. This recognition is a tribute to their hard work, creativity and dedication,’ he noted.

Also, the Group Head of Human Resources at ProvidusBank, Kingsley Ogirri, said the recognition reflected the experiences of employees themselves.

‘It is proof that the policies and programmes we have put in place are making a difference, from opportunities for growth, to wellness initiatives, to creating a space where everyone feels valued,’ he added.

Confidence building, stability

Proshare analysts say the Unity-Providus Bank business combination ‘will undoubtedly strengthen Nigeria’s banking sector by supporting further stability and building confidence in the industry; however, fixing a crack by plastering over a house wall does not resolve the underlying foundational defect.’

In a report titled, ‘Unity-Providus Business Combination Maths: Between Expediency and Technical Financial Logic,’ the analysts stressed that ‘regulatory discretions need to be structured to eliminate the unintended signalling of bias and fiscal indiscretion.’

The Minister of Innovation, Science and Technology, Uche Nnaji, has admitted that the University of Nigeria, Nsukka (UNN), never issued him a degree certificate.

This statement is in line with the report of a two-year investigation by PREMIUM TIMES which revealed that the UNN did not issue him the credentials he submitted to President Bola Ahmed Tinubu and the Senate during his ministerial confirmation.

Allegations of certificate forgery have dogged Mr Nnaji since July 2023 when President Tinubu named him among the first batch of 28 ministerial nominees from 25 states forwarded to the Senate as part of the president’s initial cabinet list, two months after taking office on May 29, 2023.

Critics had alleged that Mr Nnaji did not complete his university education and that both the bachelor’s degree and National Youth Service Corps (NYSC) certificate he presented to President Tinubu as well as to the offices of the Secretary to the Government of the Federation (SGF), the State Security Service (SSS) and the Senate were forged.

Mr Nnaji has now addressed the allegations for the first time, and, in doing so, confirmed that UNN never issued him any certificate.

Admission in court filings

The minister’s admission is contained in court filings in a case he instituted against the Minister of Education, the National Universities Commission (NUC), the University of Nigeria, its Vice-Chancellor, Simon Ortuanya, a professor, its Registrar, a former Acting Vice-Chancellor, Oguenjiofor Ujam, a professor and the Senate of the University.

In the suit before Justice Hauwa Yilwa of the Federal High Court, Abuja, Mr Nnaji sought, through a motion ex parte, an order granting him leave to issue prerogative writs prohibiting UNN and its officials from ‘tampering with’ or continuing to ‘tamper with’ his academic records.

He also sought leave to issue a prerogative writ of mandamus compelling the university and its officials to release his academic transcript to him, and asked the Minister of Education and the NUC to exercise their supervisory powers to compel UNN to do so.

Additionally, Mr Nnaji requested an interim injunction restraining UNN and its officials from ‘tampering’ with his academic records pending the determination of the substantive suit.

In her ruling of 22 September, Justice Yilwa granted three of the prayers sought but declined to issue any injunctive order against the defendants. The case was then adjourned to 6 October (Monday) for further hearing.

University of Nigeria Nsukka (UNN)

Those familiar with the matter said Mr Nnaji initiated the case to block the university from releasing details of his academic sojourn in the institution to anyone, including PREMIUM TIMES. He is also said to desire a transcript to refresh his memory regarding where he dropped out of university.

However, in paragraphs 12 and 13 of his 34-paragraph verifying affidavit supporting the motion, Mr Nnaji made a stunning revelation, accusing UNN officials of refusing to issue him a certificate and, in the process, confirming that he never collected one.

In paragraph 12, he stated that the university admitted him in 1981 to study Microbiology/Biochemistry, and that he completed the programme and ‘graduated’ in 1985.

But paragraph 13 contained the explosive admission:

‘That even though I am yet to collect my certificate from the 3rd Defendant (UNN), due largely to the non-cooperative attitude of the 3rd-5th Defendants (UNN, its Vice-Chancellor, and Registrar), the 3rd Defendant issued a letter dated 21st December 2023 to People’s Gazette (attention: Samuel Ogundipe) which stated amongst other things as follows:

‘This is to confirm that Geoffrey Uchechukwu Nnaji, with registration number 1981/30725, was admitted in 1981 to study Microbiology/Biochemistry at the University of Nigeria, Nsukka. Mr Geoffrey Uchechukwu Nnaji graduated from the University of Nigeria in July 1985 with a Bachelor of Science in Microbiology/Biochemistry, Second Class (Hons.) Lower Division.”

The letter, signed by UNN Registrar Celine Nnebedum, was sent to the People’s Gazette in response to an enquiry. But its contents have since been invalidated.

Mrs Nnebedum later recanted in a letter to the Public Complaints Commission (PCC) in May 2025, stating that the university searched its 1985 graduation records but could not find Mr Nnaji’s name.

Similarly, UNN Vice-Chancellor Ortuanya confirmed in a letter dated 3 October 2025 and addressed to PREMIUM TIMES that Mr Nnaji did not complete his studies and was never awarded a degree by the university.

A senior university official told PREMIUM TIMES that the institution investigated Mrs Nnebedum’s letter and concluded that: ‘It is either some people in the records office were influenced or manipulated to cover up for Nnaji, or it was a sincere mistake by the registry.’

The official added: ‘The truth of the matter is that he (Mr Nnaji) never graduated from here. His file is intact. It contains details up to the point where he dropped out.’

Minister keeps silent

Despite multiple efforts to obtain his comments, Mr Nnaji declined to speak directly to PREMIUM TIMES on the matter.

He ignored a detailed written enquiry sent by this newspaper on 8 January 2024, which his office formally acknowledged and stamped as ‘received’ on 18 January 2024 at 1 p.m.

He also refused to answer or return repeated follow-up calls, messages, and emails seeking his response to our findings.

Nnaji’s confession

His admission that the UNN never issued him a degree certificate raises crucial questions: If the UNN did not issue him a certificate, where and how did he obtain the degree document he submitted to Nigerian authorities? And if he never earned a degree, how did he qualify for the NYSC programme?

Ahead of his ministerial screening on August 1, 2023, Mr Nnaji submitted at least 109 copies of a 10-page profile document to the Senate Clerk’s office for distribution to all senators.

The first page featured his smiling photograph, describing him as ‘a visionary industrialist, oil and gas expert, construction giant, healthcare practitioner, pro-democracy activist, trade and investment strategist, and environmental protection expert.’

The next three pages detailed his personal data, including contact information, birth, origin, marital status, religion, education, work and business experience and political achievements.

On page three, he claimed to have earned a combined degree in Biochemistry and Microbiology from UNN, though he failed to provide a graduation year.

For his NYSC service, he claimed he worked as a laboratory supervisor at the University of Jos Teaching Hospital in 1985 and later as an assistant quality control manager at Jos International Breweries Limited in 1986.

The remaining six pages – stapled to the main document – contained copies of his West African Examination Council (WAEC) certificate, statutory declaration of age, Code of Conduct Bureau asset declaration slip, tax clearance certificate for 2022, his supposed UNN Bachelor of Science degree, and his purported NYSC Certificate of National Service.

These last two documents have been the core of PREMIUM TIMES’ long-running investigation.

Now that Mr Nnaji has admitted that UNN never issued him any degree, the inevitable question remains: how did he come into possession of the certificate he submitted to Nigerian authorities?

Barely one week to commence its planned nationwide strike, the leadership of the Academic Staff Union of Universities (ASUU) has commenced mobilisation of its members across all the universities in the country.

The union premised the latest development upon the government’s silence after a notice had been served to all relevant authorities including the minister of Labour and Employment, Maigari Dingyadi.

Daily Trust reports that ASUU had last week Monday announced that it would shut down all the public universities in the country in order to press home its demands.

The union specifically explained that the notice, starting from Sunday, September 28, 2025, would first herald a two-week warning strike before embarking on a total and indefinite strike over the federal government’s attitude.

However, in a fresh letter signed by President of the union, Prof. Chris Piwuna and sent to all branches of the union, ASUU said it had no choice but to shut down universities through strike action in response to the government’s conduct.

In the letter dated October 5, 2025, and obtained by Daily Trust on Monday, Piwuna expressed regret that there had been no meaningful progress toward resolving the issue.

He said, ‘The National Executive Council (NEC) of our Union, at its emergency meeting of 29th September, 2025, having evaluated the results of the referendum held across our branches, resolved to give government a fourteen-day ultimatum to resolve the issues contained in the negotiated document which has been transmitted to government since February, 2025.

‘It was further resolved that the union will proceed on a two-week warning strike at the expiration of the ultimatum if government fails to take acceptable and satisfactory steps to address the lingering issues.

‘The resolutions were immediately communicated to the Honourable Minister of Labour, the Honourable Minister of Education and the Nigeria Labour Congress.

‘It is now one week since those resolutions were reached and communicated to the appropriate authorities. I regret to inform you that there is no meaningful development deserving of any consideration to be reported.

‘As we enter the second and final week of the ultimatum, | thank you on behalf of NEC for the patience and understanding which you demonstrated since the commencement of this tortuous negotiation that has unjustifiably last over eight years.

‘The goal of our current action remains principally to compel Government to sign and implement the renegotiated agreement document, amongst other demands.

‘The days ahead call for mobilization of every member of our union to ensure unity of purpose. No one should be left out of the struggle to our welfare, stem the Jupa syndrome and reposition the Nigeria University System (NUS) for global competitiveness.

‘We are strong when we organise, but weakened when we agonise! Our Union has always acted in solidarity as a collective; this action will not be different.

‘Members are to take instructions only from their Chairpersons. When in doubt, members should consult their Chairpersons, Zonal Coordinators and attend Congress meetings regularly for updates on further developments.’

Gunmen have attacked Rani Ramat village in Patigi Local Government Area of Kwara State, killing one person and abducting the village head.

The incident, it was gathered, happened around 6:20pm on Sunday during the Maghrib prayer when residents had gathered at the mosque.

Witnesses said the assailants arrived on motorcycles and began shooting sporadically. In the confusion that followed, one person identified as Alhaji Liman was shot dead. The attackers later seized the village head, Alhaji Ndako, and whisked him away to an unknown location.

The raid reportedly caused panic in the community as residents fled to nearby villages for safety.

Local sources said the attack lasted several minutes before the gunmen retreated into the bush.

The chairman of Patigi Local Government, Hon Ahmed Rufai, confirmed the incident on Sunday night. He said local vigilantes and hunters had immediately mobilised into the bush to rescue the abducted village head.

Rufai said the local council, with support from the state government, had been working with security agents and vigilantes to tackle insecurity in the area.

He, however, called for stronger action to flush the bandits out of the forests.

He expressed optimism that the state government’s ongoing recruitment and planned equipping of forest guards would help change the situation.

Meanwhile, Governor AbdulRahman AbdulRazaq had met with stakeholders from Edu and Patigi local government areas over the insecurity in some parts of the district.

At the meeting, the stakeholders acknowledged the government’s efforts but urged it to deploy more troops and newly trained National Forest Guards to flush out the bandits from their hideouts.

Responding, the governor explained that he had taken up the security concerns with the Presidency and military authorities, assuring that more troops would soon be deployed to the affected areas.

He also disclosed plans to establish a homegrown community security structure as a first line of defence to complement the National Forest Guards.

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has met with Rivers State governor, Siminalayi Fubara, Speaker of the state House of Assembly, Martin Amaewhule and some elders of the state on how to strengthen governance after the six-month emergency rule in Rivers.

Impeccable sources told Daily Trust that the closed-door meeting held at the Port Harcourt residence of elder statesman, Chief Ferdinand Alabraba, on Saturday night, ended in the early hours of yesterday.

Though details were sketchy at press time, sources confirmed that the meeting was aimed at aligning efforts to uphold the peace accord brokered by President Bola Ahmed Tinubu during the six-month emergency rule in the state.

It was also gathered that the meeting was held to deliberate and pave the way for the formation of a new cabinet that would make inputs to drive governance in the state.

Wike’s media aide, Lere Olayinka, confirmed the meeting on social media, but didn’t disclose details.

The meeting came a few days after Governor Fubara’s visit to President Tinubu, where he reaffirmed his commitment to maintaining peace and sought presidential counsel on avoiding a relapse into a political crisis.

Daily Trust reports that Wike had also, during a recent appearance on Channels Television’s Politics Today, restated his commitment to the peace process.

Fubara had sacked his commissioners and other public officers affected by the Supreme Court judgement that nullified some of the governor’s decisions.

The governor’s Spokesman, Nelson Chukwudi, disclosed in a statement last Wednesday that Fubara made the decision during a valedictory session with his cabinet held at the Government House, Port Harcourt, which coincided with Nigeria’s 65th Independence Anniversary.

Appointing new commissioners is said to be one of the agreements reached at the peace meeting President Tinubu held with Wike and Fubara during the emergency rule.

Speaking during the valedictory session with his cabinet, Fubara had said the decision to disengage his loyalists had to do with the Supreme Court judgement which affected their appointments.

Recall that President Tinubu had declared a state of emergency in Rivers State and suspended Governor Fubara, his deputy, Ngozi Odu, and all elected members of the state House of Assembly for six months.

The President in a nationwide broadcast on March 18, said the decision was taken to restore stability in the state that had been enmeshed in political turmoil as a result of the disagreement between the state governor and the state lawmakers.

The President had appointed retired Vice Admiral Ibok-Ette Ibas, as the state’s administrator to oversee the state, but at the expiration of the six-month emergency rule last month, the president reinstated Fubara and all the officials that were suspended including members of the state House of Assembly.

At its inaugural sitting, the state lawmakers had asked Fubara to send a list of commissioner-nominees for screening. The governor is expected to form a new cabinet any time soon.

The Forum of Commissioners for Power and Energy (FOCPEN) has stated that 23 states have already passed enabling laws to establish their electricity markets, with more States joining soon.

A statement by the Commissioner of Power and Renewable Energy, Cross River State and Chairman FOCPEN, Prince Eka Williams, and Commissioner of Rural and Energy Development, Kogi State and, Ag. Secretary, FOCPEN, Engr. Mohammed Ihiezue Abdulmutalib, stated that states now have formal NERC transfers of regulatory oversight.

The statement which denied claims that 24 States have backpedaled on power market reforms over tariff, debt risks, noted that more states are joining the reform journey each month with formal transfer processes for Bayelsa and Nasarawa.

‘Also in its just concluded Energy Summit, Akwa Ibom State unveiled its state market blueprint, signaling strong intent to develop its state electricity market. Other States are similarly planning or hosting stakeholder engagements, workshops, and policy dialogues that will accelerate the localization of electricity governance.’

It added that regulatory commissions have been constituted in pioneering states, with others at advanced stages of setting up theirs.

‘This shows that the state markets are operational, not theoretical and states across all regions are actively exploring frameworks for independent regulation, tariff orders, and market design. The Spirit of reform remains strong and the Electricity Act is a landmark piece of legislation that has opened the door for subnational participation. States are approaching this transition with seriousness and caution, ensuring that their frameworks are credible, bankable, and sustainable.’

‘Far from ‘backpedaling,’ the momentum is growing as more states recognise the benefits of energy independence, regulatory autonomy, and consumer-focused power market reforms. FOCPEN assures Nigerians that states are not retreating; they are advancing with structured, deliberate reforms with the Federal Government and development partners ongoing to build capacity and ensure smooth implementation, financial sustainability, and consumer protection.’

The Federal Government of Nigeria has expressed its readiness to strengthen ties with Malawi under the new government in the country.

In a statement on Sunday by Kimiebi Imomotimi Ebienfa, spokesperson of the Ministry of Foreign Affairs, the Nigerian government said it looks forward to deepening bilateral cooperation that will benefit the two countries.

‘Nigeria remains committed to strengthening the existing cordial and brotherly relations between our two countries and looks forward to deepening bilateral cooperation in areas of mutual interest, such as trade, agriculture, education, and security, for the benefit of both our nations and the African continent as a whole,’ the statement said.

Meanwhile, Nigeria offered its congratulations to the government and people of Malawi on the successful and peaceful inauguration of Peter Mutharika as the seventh President of the country on Saturday, 4th October 2025, in the nation’s capital, Blantyre.

It said the historic occasion, following a democratic electoral process, was a testament to the resilience of Malawi’s democratic institutions and the will of its people.

‘Therefore, Nigeria commends the people of Malawi for their commitment to the principles of democracy, peaceful transition of power and upholding the rule of law.

‘As brothers and partners, Nigeria shares in the joy and optimism of this new chapter for the Republic of Malawi.

‘We are confident that under the leadership of President Peter Mutharika, Malawi will continue to record significant progress in its developmental agenda and in fostering unity and prosperity for all its citizens,’ it said.

The federal government has announced plans to take over the Snakebite Treatment and Research Centre in Kaltungo, Gombe State, to enhance training and local production of anti-snake venom.

The Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, disclosed this at the weekend during an inspection visit to the centre as part of his working tour of the state.

He highlighted the regional and international importance of the centre, especially during farming seasons when snakebite incidents are most common.

‘This centre treats between 2,000 and 3,000 patients annually, many of whom come not only from Gombe but also from across the North East and neighbouring countries.

‘The Federal Government, in partnership with Gombe State, will formalize arrangements to expand its role, not only as a treatment hub but also for training, research and, ultimately, local production of anti-snake venom,’ Prof. Pate said.

Speaking after commissioning a new Accident and Emergency (AandE) unit at the General Hospital, Kaltungo, the minister commended Governor Muhammadu Inuwa Yahaya for spearheading the transformation of the state’s health sector, describing it as a model for health system strengthening in Nigeria.

Prof. Pate lauded Governor Yahaya for comprehensive health reforms spanning primary healthcare revitalisation, hospital upgrades, human resource development, and the establishment of specialised medical centres.

The minister also praised the recent approval of the Consolidated Medical Salary Structure (CONMESS) and Consolidated Health Salary Structure (CONHESS) for health workers, describing it as a bold step toward retaining skilled personnel.

On his part, Governor Yahaya attributed the success to teamwork and collaboration.

‘All the credit goes to the team. Infrastructure alone is not enough, which is why we prioritized motivating our health workers so that all facilities, from primary to tertiary, can function effectively,’ he said.

UAC of Nigeria PLC (UAC) says it has completed the acquisition of Chivita|Hollandia (CHI Limited).

This followed approval from the Federal Competition and Consumer Protection Commission (FCCPC).

The transaction, first disclosed on July 30, 2025, involved the transfer of ownership of CHI Limited, a leading Nigerian food and beverage company best known for its market-dominant Chivita juice and Hollandia dairy brands, to UAC.

The Managing Director of CHI Limited, Eelco Weber, expressed optimism about the company’s future under UAC’s ownership.

‘We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,’ he said.

Group Managing Director of UAC, Fola Aiyesimoju, highlighted the strategic importance of the acquisition.

‘We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership,’ he stated.

The acquisition is expected to strengthen UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, expanding its footprint into the growing juice and dairy markets.

UAC of Nigeria PLC (UAC) had announced an agreement to acquire Chivita|Hollandia (CHI Limited) from The Coca-Cola Company.

The deal represents a strategic milestone for UAC, aimed at strengthening its position in Nigeria’s fast-moving consumer goods (FMCG) sector.

CHI Limited is one of Nigeria’s leading food and beverage companies, with strong brand portfolios across value-added dairy products, juices, nectars, still drinks, and snacks.

Its Hollandia brand dominates the evaporated milk and drinking yoghurt categories, while Chivita leads the fruit juice market.

The FCT Minister, Nyesom Wike, on Saturday, assured the timely completion of ongoing road projects across the FCT.

Wike gave the assurance in Abuja, while inspecting the ongoing constructions of the Wuye to Ring Road II and the dual carriageway from Airport Road to Kuje.

He reassured residents of Kuje and its environs that the ongoing Airport-Kuje dual carriageway would be completed before the third anniversary of President Tinubu’s administration.

He said that the project has recorded significant progress, especially in rock blasting and landscape preparation.

He commended Arab Contractors for the quality of work, stressing that upon completion, the road would transform transportation and housing options for Kuje residents.

‘By the time this road is commissioned, which is not less than eight lanes, it won’t take 15 to 20 minutes to reach the city centre,’ he said.

‘That means residents of Kuje no longer need to relocate to the city before enjoying urban living.

‘That is what development and the Renewed Hope Agenda are all about,’ Wike added.

The Minister also vowed to improve security and waste management in the city and satellite towns.