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APC formidable13m membership puts ruling party ahead others says Yilwatda

All Progressives Congress (APC) National Chairman Prof. Nentawe Yilwatda has declared that no other party can match the ruling party in terms of its solid organizational structure and extensive nationwide presence.

He said the party’s 13 million membership strength would give it a decisive advantage over opposition parties ahead of the 2027 general election.

Yilwatda spoke on the APC’s formidable base and winning capacity while receiving a pre-election fact-finding mission from the Economic Community of West African States (ECOWAS) led by former Sierra Leoneian Vice-President Victor Bockarie Foh at the party’s National Secretariat in Abuja.

A statement by Abimbola Tooki Special Adviser on Media and Information Strategy to the Chairman quoted Yilwatda as saying that years of deliberate political organization have placed the party in a strong position to mobilize voters across Nigeria.

Yilwatda said: ‘Our party is the largest political party in Nigeria. In terms of structure organization and membership no other political party comes close to us. We are approximately three times larger than the next political party in the country.’

The chairman said APC’s 13 million registered members across the country are backed by a verifiable database and membership identity cards linked to the National Identification Numbers (NIN) and voter registration details.

He added that APC can boast of over 261000 elected executive officers spanning ward local government state and national structures.

Highlighting the party’s elected representation as proof of national acceptance Yilwatda pointed out that APC holds 31of the 36 state governorship seats 88 seats of 109 in the Senate and 208 of 360 seats in the House of Representatives

He said the party also dominates most of the Houses of Assembly.

Yilwatda said APC remains the primary vehicle for aspirants nationwide recalling that over 7000 aspirants contested during the primaries.

He said while some unsuccessful aspirants defected to pick tickets in the African Democratic Congress (ADC) and the Nigeria Democratic Congress (NDC) APC recorded very few post-primary court cases.

Yilwatda said APC has fielded candidates for all elective positions and inaugurated its campaign council adding that its candidate were uploaded on the Independent National Electoral Commission (INEC) portal.

The chairman urged the electoral commission to stick strictly to its published election timetable to ensure a fair transparent and predictable contest for all participants.

Yilwatda said: ‘We believe INEC should stick to its timetable. The rules must apply equally to every political party. The electoral process must be fair transparent and predictable without adjusting deadlines in a manner that gives any party an undue advantage.’

Yilwatda assured the ECOWAS delegation that the APC remains committed to democratic principles adding that it will not use its strength to intimidate or suppress opposing voices.

He directed attention to the anti-government demonstrations including the recent ‘Tinubu Must Go’ protests as proof that the democratic space is fully protected under President Bola Ahmed Tinubu.

Yilwatda stressed: ‘Being the largest political party does not mean that we want to suppress anybody. We want a democratic environment in which every party can organize campaign and seek the support of Nigerians without fear.’

The Head of the ECOWAS mission Foh commended Yilwatda for the detailed presentation clarifying that the delegation’s assessment would rely strictly on scientific data collection observation and verification.

He said: ‘Our monitoring is scientific and our decisions on issues are based on scientific observation. We verify information before making any pronouncement and we use a robust application system to collect data. Our reports are therefore not arbitrary.’

Foh explained that the mission was engaging relevant stakeholders to obtain information and perspectives that would assist its assessment of Nigeria’s electoral environment ahead of the elections.

He expressed confidence that the engagement would contribute meaningfully to the mission’s understanding of the political landscape and the conditions for the conduct of the elections.

Foh said the session provided a valuable insight into Nigeria’s political readiness ahead of the polls.

Thailand eyes status as AI medical hub

Thailand wants to become a regional artificial intelligence (AI) medical hub by developing AI models tailored to Southeast Asian populations and turning decades of clinical research into advances in precision medicine, drug discovery and cancer treatment.

The strategy seeks to combine the country’s clinical expertise, diverse patient data and research archives with private investment to bring innovations to commercial usage, said Deputy Prime Minister Yodchanan Wongsawat at the Global Medical AI Summit 2026 yesterday, co-hosted by the AI Entrepreneur Association of Thailand (AIEAT) and the Technology and Innovation in Life Sciences National Agency.

Thailand’s priorities span from building regional medical foundation models, AI-driven genomics, generative biology, autonomous discovery, longitudinal AI, human digital twins and precision oncology, he noted.

The regional medical foundation models rely on AI systems trained on extensive datasets to support multiple applications that address Southeast Asian populations.

Mr Yodchanan said existing models are insufficiently tailored to the region’s demographics and clinical conditions.

“Thailand’s multicultural patient base could help develop systems better suited to these populations,” he said.

The proposed models will move beyond 2D imaging to 3D structures and 4D data capturing changes over time, enabling analysis of complex spatial and time-series clinical information, noted Mr Yodchanan.

AI-driven genomics can connect clinical and biological data to support personalised care. University hospitals’ tissue-imaging archives, spanning 50 years, could provide a foundation for cancer research.

Linking these records with molecular biology and spatial transcriptomics, which maps gene activity within tissues, could deepen understanding of cancer and guide more targeted treatments, he said.

Generative biology and autonomous discovery would involve laboratories where AI systems connect to equipment, initiate experiments, analyse results and guide subsequent tests. Automating repeated experimental work can accelerate parts of drug discovery.

Longitudinal AI and human digital twins develop disease-specific twins for heart disease, diabetes, and kidney disease risk prediction.

Mr Yodchanan said medical AI should support preventive care and drug discovery using local natural ingredients, linking healthcare research with Thailand’s agricultural resources.

Under a “one health” approach, human health information would be combined with environmental, animal and agricultural data to improve understanding of disease and prevention, he noted.

Thailand’s demographic and behavioural diversity could strengthen its appeal to international researchers, alongside its position as a medical destination connecting India, southern China, Vietnam and southern Indonesia.

Mr Yodchanan also proposed adapting space and defence technologies to locally produce medical imaging equipment and vaccine machinery.

FROM RESEARCH TO MARKET

University hospitals account for 80-90% of Thailand’s medical innovations, making them central to these ambitions, he noted.

A nationwide consortium of university holding companies was established to facilitate collaboration in related areas. Technology licensing offices would help startups and overseas partners access intellectual property and turn research into products.

Mr Yodchanan urged researchers to pursue original scientific contributions capable of competing in the international market. Government funding alone might be insufficient to scale pharmaceutical and medical AI ventures, requiring international venture capital and private investment.

“Supporting infrastructure would include high-performance data centres, reliable energy supplies and shared laboratories,” he said.

Supachai Parchariyanon, managing partner of SeaX Ventures, said the company’s non-profit Southeast Asia Health Tech Innovation Hub aims to accelerate clinical validation, hospital adoption and market expansion. The network spans 50 partner health systems and has reached 30 million patients, targeting 100 million by the end of 2028. The hub is working with Skribe Medical USA on AI-discovered cancer drugs, he said.

Chanwit Boonchuay, the AIEAT president, identified three opportunities for medical AI solutions: earlier disease detection, personalised care, and AI-driven drug discovery.

How I Swap Bank Customers’ ATM Cards – Suspect

An arrested suspected ATM card fraudster, Michael Chinonso, has confessed to security operatives how he allegedly distracts bank customers at automated teller machine (ATM) points to swap their cards.

Chinonso, who was arrested by operatives of the Federal Capital Territory (FCT) Police Command, made the confession during an interrogation conducted by the command’s spokesperson, CSP Josephine Adeh, on Friday.

He said he usually taps customers attempting to withdraw money from ATMs to distract them, creating an opportunity for him to swap their cards without their knowledge.

The suspect said he had engaged in the act twice, adding that during his first attempt, he made more than N200,000 by using a victim’s ATM card to withdraw money from the person’s account.

He also confessed that he belonged to a three-man gang specialising in swapping ATM cards, explaining that his role was to distract customers while another member of the gang carried out the card swap.

Adeh disclosed that the suspect was arrested at a bank branch in Lugbe, Abuja, on Friday.

She said the suspect was apprehended after he allegedly attempted to swap a customer’s ATM card before escaping.

According to her, operatives are on the trail of the two other members of the gang who are currently at large.

She said the suspect would be charged to court upon the conclusion of investigations.

Adeh advised ATM users to remain vigilant whenever they visit banking halls or ATM points to carry out transactions.

She cautioned residents against allowing strangers to assist them with ATM withdrawals and urged members of the public to remain security-conscious and report suspicious persons through the command’s emergency lines: 08032003913 and 08061581938.

Annual Financial Net Worth at -pound 31.319,8 mn in 2025

The Annual Financial Net Worth stood at -pound 31,319.8 mn in 2025, the Statistical Service of Cyprus said Monday in its publication of the Annual Financial Accounts (Stocks) by Institutional Sector for 2025.

Total Economy

The Statistical Service says that the total assets of the economy in financial instruments amounted to pound 795,128.8 mn at the end of December 2025, of which 50.4% relates to equities and shares, 17.9% to currency and deposits and 17.6% to loans.

The total liabilities of the economy in financial instruments amounted to pound 826,448.6 mn at the end of December 2025, of which 51.9% relates to equities and shares, 23.4% to loans and 12.6% to currency and deposits.

Households and Non-financial Corporations

Meanwhile, the assets of households in financial instruments amounted to pound 62,567.7 mn at the end of December 2025, of which 53.8% consists of currency and deposits, 0.8% in loans, 2.6% in debt securities and 25% in equities.

The amount of loans for this sector reached 19,888.8 mn, at the end of December 2025, with a debt-to-Gross Domestic Product (GDP) ratio of 51.9%.

The corresponding assets of non-financial corporations amounted to pound 75,855.1 mn, with 24.1% in cash and deposits, 5.5% in loans, 1% in debt securities, 37% in equities and 31.9% in other financial instruments.

The amount of loans for this sector at the end of December 2025 reached pound 41,618.1 mn, with a debt-to-GDP ratio of 108.6%, it concludes.

Bankable projects, reliable technology critical to sustaining Nigeria’s solar market growth -Experts

Bankable projects, reliable technology and strong local technical support are critical to sustaining Nigeria’s growing solar market, industry experts and operators have said.

They also warned that inadequate project preparation and substandard equipment could undermine investor confidence and slow the country’s energy transition.

They said Nigeria’s expanding solar market presented significant investment opportunities, but urged developers to demonstrate the commercial viability of projects, establish sound financial structures and guarantee reliable equipment performance to attract the long-term financing required to sustain growth.

The experts spoke against the backdrop of Africa’s estimated $28bn to $46bn renewable energy investment requirement to expand electricity access to about 150 million people through mini-grids and other renewable energy solutions.

Speaking ahead of the Renewable Energy Forum Africa (REFA) 2026 in Lagos, industry representatives stressed that increasing electricity access alone would not be sufficient to attract the capital required to develop the sector.

The representatives included Esther Eyenobong, Senior Sales Manager, West Africa, Jinko Solar; Ruth Iye Ifah, Sales Manager, JA Solar; Taiwo Adewale, Business Development Manager, Nigeria, AIKO Energy; Ololade Raji, Technical Services Manager, AlphaESS; and Olamide Niyi-Afuye, Chief Executive Officer, Africa Mini-grid Developers Association.

The forum is scheduled for November 25 and 26, at the Radisson Blu Hotel, Victoria Island, Lagos.

According to the operators, renewable energy developers must move beyond presenting electricity access as a development imperative and focus on projects capable of delivering measurable economic benefits, sustainable financial returns and reliable power supply.

‘Capital will not flow at the required scale simply because development cases can be better. Projects must be commercially viable and bankable,’ they said.

Figures presented by Benjamin Clark, Director of Operations, Africa Solar Industry Association (AFSIA), showed that Nigeria had approximately 620 megawatts of operational solar capacity, making it the largest market in West Africa by installed capacity.

Clark said that annual solar installations in the country, had increased from about 15 megawatts in 2019 to approximately 123 megawatts in 2024.

Although annual additions declined to around 79 megawatts in 2025, he said approximately 89 megawatts had become operational in 2026, while another 115 megawatts were under construction.

Completion of the projects could push new solar capacity additions beyond 200 megawatts in 2026, potentially making it the country’s strongest year for solar deployment based on AFSIA’s figures.

He said Nigeria’s commercial and industrial solar segment had also expanded as manufacturers, hotels, offices and other businesses increasingly adopted renewable energy to reduce dependence on diesel generators and improve electricity reliability.

According to Clark, the segment had grown by an average of 32 per cent annually since 2021, with Nigeria recording approximately 82 megawatts of commercial and industrial solar installations in 2024, making it Africa’s second-largest market behind South Africa.

Nigeria also leads Africa in solar mini-grid capacity, with approximately 132 megawatts, representing 31 per cent of the continent’s total.

However, Raji of AlphaESS said sustaining the expansion would require developers and engineering, procurement and construction contractors to prepare projects with clear financial structures, sound technical designs, viable repayment arrangements and credible feasibility studies before approaching investors.

He said investors also needed confidence that projects could be deployed, maintained and operated by competent local technical teams.

He warned that unreliable equipment and inadequate after-sales services could undermine investor confidence, stressing the importance of local service centres, spare-parts availability and technology designed for Nigerian operating conditions.

‘We don’t want Nigeria to be a dumping ground,’ he said, urging equipment manufacturers to provide reliable systems backed by adequate technical support.

Raji added that renewable energy investments should be assessed beyond installed capacity, particularly their long-term economic contributions, including keeping factories operational, protecting healthcare services and improving business productivity.

Meanwhile, Eyenobong of Jinko Solar disclosed that the company had signed framework agreements covering more than 600 megawatts with Nigerian partners in 2026 for projects targeting commercial, industrial and residential rooftops.

She said the agreements reflected growing demand for solar solutions and the importance of long-term partnerships in expanding deployment.

She cited the company’s projects at the National Theatre in Lagos, comprising a 2.5-megawatt solar photovoltaic installation and a 4.8-megawatt energy storage system, as examples of the growing application of solar and storage technology.

On regulatory support, Clark said new mini-grid regulations introduced in April allowed standalone mini-grids of up to five megawatts and grid-connected mini-grids of up to 10 megawatts, while smaller systems benefited from simplified registration requirements.

He also highlighted net-billing rules introduced in June, allowing eligible businesses operating solar systems between 50 kilowatts and 1.5 megawatts to export excess electricity to the grid in exchange for bill credits.

The $300m Distributed Renewable Energy Fund and the $750m Distributed Energy Access through Renewable Energy Scale-up programme were also identified as initiatives intended to support smaller renewable energy projects and expand electricity access.

Clark said Lagos was particularly important to the investment drive because of its substantial electricity shortfall and efforts to develop an independent state electricity market.

He said the state had estimated electricity demand at approximately 12 gigawatts, against supply of around one gigawatt from the national grid, creating significant opportunities for embedded generation and other private-sector electricity solutions.

Tinubu’s reelection: Abejide launches N600m empowerment initiative in Kano

A member representing Yagba Federal Constituency in the House of Representatives, Hon. Leke Abejide, is mobilizing two million voters from Yoruba extraction resident in Kano for President Bola Ahmed Tinubu in 2027, with the launching of N600 million empowerment programme, targeting Yoruba women Corporative Societies, widows and other vulnerable people.

The empowerment programme which was launched under the auspices of Leke Abejide Foundation (LAF), was inaugurated at Kano Pillars Stadium, Sabon Gari, on Saturday, under the chairmanship of Kano state Governor, Engr. Abba Kabir Yusuf.

Abejide, the Kano-based business tycoon, who is also the chairman, House Committee on Customs, called on the beneficiaries to ensure the reelection of President Tinubu and Governor Yusuf in the 2027 election circle, promising to do even more when they reciprocate his goodwill by massively voting for President Tinubu, Governor Yusuf and all APC candidates vying for electoral position in Kano.

According to him, the intervention was part of his commitment to giving back to the people of Kano, a city he described as his home and the foundation of his success in life.

He disclosed that he arrived in Kano decades ago, as a young boy from Alu, Yagba East Local Government Area of Kogi State, adding that the city provided him with the opportunities that shaped his business career and eventual success.

According to him, his decision to extend the empowerment programme to Kano was driven by his longstanding relationship with the people, many of whom he had known for over three decades.

Leke Abejide, explained that the N500 million interest-free loan scheme to women Corporative Societies was designed to support them establish businesses that will enable them take care of their family needs.

He also revealed that another N100 million was earmarked for widows, including assorted food items that would be distributed to the beneficiaries.

He said the initiative was designed to ensure sustainable economic empowerment through a revolving loan arrangement that would enable other women to benefit after previous beneficiaries successfully repay their loans.

Abejide further disclosed that the programme covers women from eight Yoruba-speaking states, namely Lagos, Oyo, Ogun, Osun, Ondo, Ekiti, Kogi and Kwara, alongside Ebira, Igala and Bassa communities from Kogi state resident in Kano.

Abejide assured the beneficiaries that the programme would be continuous, stressing that it was not designed as a temporary political gesture but as a sustainable intervention capable of transforming businesses and lifting families out of poverty.

The lawmaker also announced that widows captured under the programme would receive direct financial support through their bank accounts to strengthen their petty businesses, while all participating women would receive rice and six yards of printed wax fabric.

He warned beneficiaries against misusing the funds, explaining that the foundation had established monitoring mechanisms to ensure accountability and minimise defaults.

Abejide also revealed that the Foundation would soon extend its empowerment initiative to youths and men in business, particularly unemployed young people, to help them become self-reliant and economically productive.

He said the Foundation had already collected the names of prospective beneficiaries as preparations for the next phase of the programme continued.

Speaking on his political commitment, Abejide called on the Yoruba community and other beneficiaries in Kano to support President Bola Ahmed Tinubu and other All Progressive Congress (APC) candidates in the forthcoming elections.

He expressed concern over the outcome of the 2023 presidential election in Kano, where President Tinubu secured over 500,000 votes across the state’s 44 Local Government Areas, saying the result had challenged him to mobilise the Yoruba population in Kano for stronger political participation.

Abejide, who goes by the title of the Asiwaju of the Yoruba people in Kano, said arrangements were being made to appoint polling-unit coordinators among women and widows benefiting from the empowerment programme to strengthen grassroots mobilisation.

He declared his commitment to mobilising support for President Tinubu, Governor Abba Kabir Yusuf, APC senatorial candidates, House of Representatives candidates and State House of Assembly candidates.

The Foundation chairman maintained that the empowerment initiative would also promote unity among Yoruba associations in Kano, noting that the programme had brought together different groups that previously operated separately.

He cited the Foundation’s achievements in Kogi State, where it had provided free WAEC registration for more than 50,000 students and supported approximately 10,000 widows over the years.

Abejide expressed confidence that Kano, being the commercial centre of northern Nigeria, would record even greater success in the implementation of the empowerment programme.

He urged the beneficiaries to use the financial assistance judiciously, assuring them that the foundation would remain committed to improving their economic conditions.

He concluded by reaffirming his determination not to disappoint the people, describing himself as a man who keeps his promises and urging beneficiaries to reciprocate the gesture through responsible participation in the programme.

Kano state Governor, Engr. Abba Kabir Yusuf, commended Abejide for the kind gesture, and assured the Yoruba people resident in Kano of the state government’s commitment towards their welfare and welbeing.

Governor Yusuf who promised to donate a land for the building of ultra modern palace for Oba Yoruba in Kano, also donated N500 million for the project.

He urged the people to support the rulling APC and ensure the reelection of President Tinubu and other APC candidates in the state.

Speaking at the occasion, former Kogi State Governor, Yahaya Bello, said Kano is a very significant state, particularly because of its diversity and the harmonious relationship among its different communities.

He said: ‘The population of other ethnic groups in Kano may be relatively small compared with the indigenous population, but that does not mean we should underestimate our political strength. We have a responsibility to mobilise our people and ensure that their votes count.

‘In the last presidential election, our voting population in Kano delivered nearly 500,000 votes for President Bola Ahmed Tinubu. That performance was not satisfactory, and we must do better this time.

‘We are already reaching out to our people across different neighbourhoods. Our responsibility is not limited to voting for the President; we must also campaign actively for President Bola Ahmed Tinubu ahead of the 2027 general elections scheduled for January 16, 2027.’

Navy deepens civil-military relations with ultra-modern hall mini marts in Edo

The Nigerian Navy has inaugurated and handed over an ultra-modern 500-capacity hall mini marts and an Information Technology (IT) garden at Ibore-Uneah in Irrua Esan Central Local Government Area of Edo State.

The event reinforced the commitment of the service to grassroots development and stronger civil-military relations.

The facility executed under the Chief of the Naval Staff (CNS) Special Intervention Quick Impact Project Scheme is designed to provide social and economic infrastructure for Ibore-Irrua and neighbouring communities.

The Chief of the Naval Staff (CNS) Vice Admiral Idi Abbas who was represented by the Director of Nigerian Navy Veteran Affairs Rear Admiral Reheem Taofeek said the initiative reflected the Navy’s recognition that national security and prosperity were strengthened when communities were empowered through meaningful development.

Abbas said the project was another demonstration of the Navy’s civil-military cooperation efforts which seek to address critical community needs while strengthening relationships between the Armed Forces and the people.

The CNS said the ultra-modern hall would provide a venue that is conducive to host community meetings and other social activities while the mini marts and IT garden would contribute to the socio-economic development and improved quality of life of residents.

He said: ‘The Nigerian Navy recognises that the security and prosperity of our nation are strengthened when communities are empowered through meaningful development.

‘This understanding continues to guide the Nigerian Navy’s civil-military cooperation efforts and the Chief of the Naval Staff Special Intervention Quick Impact Project Scheme which seeks to address critical community needs while fostering stronger bonds between the Armed Forces and the people we serve.’

Abbas hailed the project facilitator Rear Admiral Michael Gregory Oamen (retd.) for identifying the community’s needs and utilising the opportunity and funding provided under the intervention scheme to deliver the facility.

He described Oamen’s initiative as an example of leadership that translates into tangible benefits for the people urging beneficiaries to protect and maintain the facility to ensure its sustainability.

Abbas also expressed appreciation to the Edo State government the leadership of Esan Central Local Government traditional rulers community leaders contractors and other stakeholders for their contributions to the success of the project.

Oamen a former Flag Officer Commanding (FOC) Western Naval Command said he conceived the project to expand the Nigerian Navy’s contribution to grassroots development through non-kinetic civil-military interventions.

He explained that although similar quick-impact and civil-military assistance initiatives had historically been associated largely with the Nigerian Army he saw an opportunity for the Navy to extend its developmental footprint to communities outside its traditional maritime security responsibilities.

The former FOC described himself as a proud son of the community saying he facilitated the project to bring a Nigerian Navy-backed intervention to Edo State.

He said: ‘National security is not achieved solely through military hardware or operations; it is sustained through mutual trust goodwill and shared progress between the Armed Forces and the civilian population.

‘When the military actively invests in social infrastructure it reinforces the fundamental truth that our military personnel are drawn from these very communities and our ultimate calling remains the protection and uplifting of the Nigerian people.’

The retired naval officer said the location of the facility at Ibore-Uneah community Irrua was deliberate given its accessibility to surrounding communities.

Expressing appreciation to the CNS and the naval headquarters for supporting the initiative as well as government officials traditional institutions and residents for their cooperation during its execution Oamen urged the residents to take ownership of the facility preserve it and utilise it as a centre for unity and community progress.

The community’s spokesman Mr. Victor Evbohimen thanked the facilitator and the Nigerian Navy for the project.

He said: ‘The community has been struggling to have a town hall before this intervention it shall be well with the facilitator and the Nigerian Navy.’

Addressing reporters a former Director at the Nigerian Armed Forces Command and Staff College Jaji Maj.-Gen. Victor Ebhalemen (retd.) expressed appreciation to the CNS for the project.

Dignitaries at the event included officers and men of the Nigerian Navy and sister security agencies indigenes of the community among others.

Sri Lanka Ports Authority wins two prestigious awards at Global Ports Forum Awards 2026

The Sri Lanka Ports Authority (SLPA) has won two prestigious accolades at the Global Ports Forum (GPF) Awards 2026, securing the titles of ‘Port Authority of the Year 2026’ and ‘Best State-Owned Container Terminal 2026’.

These awards recognise the SLPA’s outstanding contributions to the development of the port and maritime sectors and its role in facilitating global trade.

The Global Ports Forum Awards are held annually to recognise organisations and industry stakeholders that contribute to the growth and advancement of the global port and maritime industry. The awards acknowledge the achievements of ports, container terminals, shipping lines and service providers in enhancing the efficiency, competitiveness and development of the sector.

This significant achievement reflects the collective efforts of the Sri Lanka Ports Authority and the guidance and leadership of Ports and Civil Aviation Minister Anura Karunathilaka, the Ministry Secretary W. W. S. Mangala and the SLPA Chairman Dr. Parakrama Dissanayake.

The recognition further highlights the SLPA’s commitment to strengthening Sri Lanka’s position as a leading maritime hub in the region and contributing to the continued growth of the country’s port and shipping industry.

Credite Capital targets N1 billion capital base

Credite Capital Finance and Investment Limited has declared a dividend payout of N70 million to shareholders for the 2025 financial year representing a 71 per cent increase from the previous year’s payout.

The announcement was made by Mr Segun Ogunleye the company’s managing director at its ninth annual general meeting (AGM) at the Radisson blu Hotel in Lagos on Friday.

Ogunleye said the company declared a dividend of 23 kobo per share compared with 17 kobo in the preceding financial year.

He also announced plans to increase the company’s capital base to N1 billion as it positions itself for potential regulatory recapitalisation requirements in the finance sector.

‘We’re doing 70 million dividend payouts which represents 23kobo per shares and which is a step higher than what we did in 2024 which was 17kobo per shares.’ he said.

‘For the 1billion payout we don’t have a time frame for it’ he said.

‘We are the one just putting ourselves on our toes to make sure that we would not wait to when the regulators are asking us to show our capital base.

Which is what is happening in the industry. The first one was the micro finance bank now it comes to main conventional bank and we are very sure it’s going to come to finance company like us. We don’t to wait till that clarion call rings.’

The managing director added that Credite Capital intends to expand its branch network across South-West Nigeria subject to regulatory approval.

‘We are thinking of branch expansion and also get the approval of our regulators so we can have branch in all those places’ he said.

‘Beyond southwest we are also thinking of other places but we are looking at the southwest for now.’

Speaking on the company’s financial performance Tokunboh Abudu chairman of Credite Capital said the company recorded gross earnings of N2.806 billion in 2025.

He said interest income stood at N480.3 million while non-interest income was N281.9 million.

The company posted a profit before tax of N158 million representing a 9.8 per cent increase from the previous year.

Abudu added that total assets grew by 20.4 per cent to N8.193 billion while customer deposits stood at N6.797 billion.

Shareholders’ funds also increased to N608 million according to the chairman.

Photo caption: Credite capital MD Mr Segun Ogunleye (standing) and Chairman Credite capital Mr Tokunboh Abudu at the AGM.

Holguin expresses optimism ahead of trilateral meeting next week

UN Secretary General’s Personal Envoy for Cyprus, Maria Angela Holguin, expressed optimism ahead of the trilateral meeting that will take place next week between herself, President of the Republic of Cyprus Nikos Christodoulides and Turkish Cypriot leader Tufan Erhurman.

Holguin, who met on Monday with Erhurman, said that it was a preparatory meeting for next week’s trilateral meeting.

“We talked about many subjects” she said, adding that “I am optimistic, I hope I am not the only one in the island, but I continue to work. It was a good meeting.”

The Turkish Cypriot leader made no statement to the press.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results due to Turkish intransigence. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.

UN Secretary-General Antonio Guterres, whose term nears its end, announced he would convene another meeting in broader format, after adequate preparation, but gave no timeline. He secured to that end the consensus of both sides and of the guarantor powers. María Angela Holguín, Guterres’ Personal Envoy on Cyprus, is tasked to engage with the parties. Executive Vice-President Raffaele Fitto acts as the European Commission’s Special Representative for Cyprus, succeeding EU special envoy Johannes Hahn.