Category: Nigerian Tribune

The lawmaker representing Edo North in the Nigerian Senate, Senator Adams Oshiomhole, has said that former Vice President Atiku Abubakar and the presidential candidate of the Labour Party (LP) in the 2023 general election, Peter Obi, stand no chance of defeating President Bola Tinubu in the 2027 presidential election.

Speaking on Channels Television’s Sunday Politics, Oshiomhole stated that both Atiku and Obi had faced defeats in previous elections, whether they contested jointly or separately, and would face the same outcome if they teamed up again.

‘Did Atiku not run with Obi before and contested against the APC. Were they not defeated?

‘Throw any number you want to throw. The point is that when these two ran together, they were roundly defeated by the APC,’ the former Edo governor stated.

‘They have a history of being defeated together and they have a history of being defeated apart. So, if they come back together, they will still be defeated,’ he added.

Atiku, who was the Peoples Democratic Party (PDP) presidential candidate in 2023, while Obi flew the flag of the Labour Party (LP), both garnered a combined total of over 12 million votes in the election that produced President Tinubu.

The two opposition leaders, now members of a coalition under the African Democratic Congress (ADC), finished second and third, respectively, in the last presidential election.

After a high-level meeting with President Bola Tinubu in Abuja, Nigerian-born global investor Adebayo Ogunlesi expressed renewed confidence in the country’s economic reforms, indicating potential mega investments across energy, aviation, and port sectors.

He was joined in that optimism by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), who stressed that the reforms were laying the groundwork for an export-driven economy.

Speaking to journalists after the closed-door meeting, Ogunlesi praised the sweeping policy changes under Tinubu’s administration, including the removal of subsidies, tax reforms, and the revival of a refinery already exporting aviation fuel.

‘We had an excellent meeting where we discussed how to put Nigeria front and centre for international investment. The President was very encouraging, and we shared useful suggestions on driving economic growth,’ Ogunlesi said.

Although he declined to reveal specific details, Ogunlesi confirmed that his firm is actively investing in Nigeria and assessing new opportunities.

‘Watch this space. Nigeria is not yet the most exciting investment destination, but that’s what we are working on,’ he teased.

Pressed on the sectors of interest, Ogunlesi highlighted energy, gas, aviation, ports, and renewables. Drawing on his firm’s experience with LNG projects in Texas and Australia, he noted Nigeria’s massive untapped gas reserves.

On aviation, he acknowledged his reputation as ‘the guy who bought Gatwick Airport’ and signalled interest in similar ventures locally.

He also admitted that one of his companies operates ports in Cotonou and Lomé but none in Nigeria, a point Tinubu reportedly challenged him on.

‘He forgave me but said, ‘you have to bring port investment to Nigeria,” Ogunlesi recounted with a smile.

International investor Hakeem Bello-Osagie, who was also present, underscored the importance of diaspora participation in Nigeria’s growth story.

‘When Nigerians at home and abroad invest in Nigeria, it sends a strong signal to the world,’ he said, lauding Tinubu’s policies for making the country ‘investable.’

Echoing the sentiment, FIRS chairman Adedeji described the reforms as the foundation for an export-led economy.

‘We’ve done the fundamentals, and now it is time to deliver growth,’ he said.

With global players signalling confidence, the momentum for Nigeria’s economic repositioning is gaining ground, setting the stage for transformative investments in key industries.

Prudential Zenith Life Insurance Limited has announced its audited 2024 financial results, approved by the National Insurance Commission (NAICOM), showing exceptional growth and a capital buffer that surpasses the new regulatory requirement by ?19.3 billion.

The company reported a 21% rise in profit after tax to ?7.4 billion, up from ?6.1 billion in 2023, while total assets expanded by 29.5% to ?82.0 billion, driven largely by a 29.6% increase in financial assets.

Shareholders’ equity climbed 32.2% to ?30.5 billion, supported by a 51.8% jump in retained earnings to ?19.5 billion.

With its solvency margin strengthening by 28.3% to ?29.3 billion, Prudential Zenith Life has achieved a surplus of ?19.3 billion above the ?10 billion minimum capital requirement effective July 31, 2025.

Insurance contract liabilities also grew by 29.7%, accounting for 95.4% of total liabilities, reflecting the company’s expanding underwriting strength and customer base.

Commenting on the performance, Ms. Funmi Omo, Chief Executive Officer of Prudential Zenith Life, said, ‘Our 2024 results are a testament to our financial resilience and commitment to excellence. Delivering a 21% profit increase while maintaining a capital surplus nearly double the regulatory requirement underscores our discipline, foresight, and strategic focus. The ?19.3 billion buffer empowers us to innovate, expand, and deliver greater value to our customers and shareholders as we enter our next phase of growth.’

Prudential Zenith Life’s strong performance reinforces its mission to secure the financial future of its customers through innovative insurance products.

Its capital strength provides strategic flexibility to broaden offerings, invest in technology, and sustain long-term value creation.

The company, now a wholly-owned subsidiary of Prudential plc following a full acquisition in September 2024, ranks among the most capitalised insurers in Nigeria.

It offers a wide range of individual solutions, including savings and investment-linked products, endowment, and protection plans as well as corporate products such as Group Life, Key-Man Assurance, Credit Life, School Fees Protection, and Mortgage Protection.

Prudential plc, its parent company, is a global leader in life and health insurance and asset management, with dual primary listings on the Hong Kong Stock Exchange and London Stock Exchange, and secondary listings in Singapore and New York.

With its solid 2024 performance, Prudential Zenith Life is positioned for continued growth, strengthened competitiveness, and deeper contributions to Nigeria’s insurance sector.

The reopening of the National Arts Theatre marks the culmination of a landmark public-private partnership led by the Central Bank of Nigeria (CBN) and the Bankers’ Committee, which jointly committed about N68 billion to the transformation of Nigeria’s most iconic cultural edifice.

The project, hailed as one of the most significant public-private partnerships in Nigeria’s recent history, blends heritage with innovation. Originally completed in 1976 and inaugurated during FESTAC ’77, the National Theatre once stood as a symbol of African creativity. But decades of neglect left it derelict and underutilized. Now, with its rebirth as the Wole Soyinka Centre, the iconic landmark is being positioned as the anchor for Nigeria’s creative industries – spanning film, music, fashion, technology, and literature.

The ceremony, attended by President Bola Ahmed Tinubu, First Lady Senator Oluremi Tinubu, Lagos State Governor Babajide Sanwo-Olu, Nobel Laureate Prof. Wole Soyinka, members of the Bankers’ Committee and other dignitaries, was not just a celebration of bricks and mortar but a statement of intent about Nigeria’s future.

The President seized the opportunity to direct the creation of a National Arts Theatre Endowment Fund, a financial mechanism designed to guarantee continuous maintenance of the complex and prevent it from falling back into disrepair. ‘It has been a wonderful evening, and I have enjoyed myself,’ Tinubu said, adding, ‘It is now left for Cardoso and others to put together an endowment fund, and I will contribute to it. It’s not a bad thing for us to use this opportunity to create jobs, maintain accessibility, and commitment. This place will not go dry again.’

Tinubu also defended the renaming of the complex after Nobel Laureate Wole Soyinka, describing him as one of the world’s greatest cultural assets and a fitting figure for such an honour. He urged Nigerians to project positivity about their country, urging young people to renew their hope and channel their energy into rebuilding the nation.

The atmosphere reflected both pride and nostalgia. For decades, the National Theatre symbolized the promise and pitfalls of Nigeria’s cultural heritage. Built in 1976 and inaugurated during FESTAC ’77, it was once the epicentre of African creativity, hosting artists, musicians, and cultural icons from across the continent. But years of neglect left the building a shadow of its former glory, plagued by structural decay and a loss of relevance.

The turning point came in 2020 when the Federal Government approved a public-private partnership that transferred the theatre and its surrounding estate to the CBN on behalf of the Bankers’ Committee. What began as a plan to rehabilitate the monument quickly evolved into an ambitious vision to reimagine it as a world-class creative hub. The project faced numerous hurdles along the way – structural complexities, contractual disputes, and the COVID-19 pandemic stretched the timeline far beyond the initial 15 months and pushed the budget from ?21.3 billion to ?68 billion. Yet, after years of painstaking effort, the result unveiled last week was a transformation that surpassed expectations.

CBN Governor Olayemi Cardoso framed the Bankers’ Committee’s commitment as more than philanthropy, describing the investment as a deliberate intervention in Nigeria’s cultural future. ‘The Central Bank of Nigeria, the Bankers’ Committee, the Lagos State Government, and the Ministry of Art, Culture, and the Creative Economy came together with a shared purpose to deliver this national project. The Bankers’ Committee alone committed approximately ?68 billion, not as corporate social responsibility but as a deliberate investment in Nigeria’s cultural future,’ he said, and emphasized that the project demonstrated the power of collaboration between the public and private sectors in delivering national development.

The new facility preserves the theatre’s iconic silhouette while delivering state-of-the-art performance halls, cinemas, exhibition galleries, an African literature library, rehearsal studios, media and medical facilities, and modernised infrastructure. The surrounding grounds have been upgraded with gardens, outdoor exhibition areas, and improved access routes, including seamless integration with the Lagos Blue Line Metro, placing culture at the heart of city life.

The project also includes the development of a 44-hectare ‘Signature Cluster,’ consisting of four creative hubs dedicated to fashion, music, film, and information technology. Each hub is designed to operate independently but with the capacity for collaboration across sectors, a model aimed at nurturing Nigeria’s creative industries into a globally competitive ecosystem.

Governor Sanwo-Olu described the reopening as both a cultural and spiritual rebirth, recalling the historic significance of FESTAC ’77 when the venue symbolized Pan-African unity and creativity. He stressed the importance of the collaboration that delivered the project, highlighting Lagos State’s contribution of land and infrastructure, including direct rail connectivity to the site. He expressed optimism that the revitalised complex would not only celebrate Nigeria’s heritage but also attract investment, stimulate tourism, and create thousands of jobs.

Professor Wole Soyinka, visibly moved, admitted he once considered the theatre beyond redemption but acknowledged that the Bankers’ Committee had proved him wrong. ‘The Bankers’ Committee made me eat my words. With this recreation, Nigerians can now watch African theatre at home instead of traveling abroad,’ he said. For Soyinka, the project represents not just a revival of an edifice but a reaffirmation of Nigeria’s place in global cultural discourse.

Industry watchers note that the project represents a significant opportunity for the financial sector. Beyond the immediate jobs created in construction and operations, banks now have new avenues to finance cultural events, training programmes, creative enterprises, and ancillary services linked to the theatre and its clusters. Analysts argue that if properly managed, the National Theatre could become a financing hub for Nigeria’s burgeoning creative economy, estimated to contribute billions of dollars annually to GDP.

Globally, the creative economy is recognized as one of the fastest-growing sectors, driven by digital innovation, cultural exports, and youthful populations. Nigeria, with its music, film, and fashion industries already gaining global traction, is well-positioned to leverage this momentum. The rebirth of the National Theatre provides the physical infrastructure and symbolic confidence to scale this potential. Federal Government projections suggest the creative sector could generate over one million jobs, providing much-needed employment opportunities for Nigeria’s large youth population.

Still, challenges remain. Sustainability and inclusivity are critical. Many grand projects in Nigeria have failed not for lack of vision but for weak management and poor maintenance. The establishment of an endowment fund is a step in the right direction, but transparency and accountability will determine its effectiveness.

There are also questions about accessibility: will the theatre cater only to elite performances, or will it provide affordable platforms for grassroots creatives? Ensuring broad participation will be essential if the project is to achieve its economic and cultural objectives.

Yet, despite these concerns, the mood around the reopening was one of optimism. For the CBN and the Bankers’ Committee, the investment is both a show of confidence and a strategic bet on Nigeria’s soft power. For the government, it is a milestone in its ambition to diversify the economy beyond oil. For young Nigerians, it is a reminder that their creativity is not just entertainment but an economic force capable of shaping the country’s future.

The story of the National Theatre is, in many ways, the story of Nigeria itself, a tale of past glory, decline, and renewal. What began nearly half a century ago as a symbol of cultural pride has degenerated, but it is today been reborn as a beacon of possibilities. The challenge now is to sustain that vision, to ensure that the lights do not go out again, and to leverage the investment as a springboard for broader economic transformation. If successful, the Wole Soyinka Centre for Culture and Creative Arts will not just preserve the past; it will finance the future, proving that culture, when invested in strategically, can be one of Nigeria’s most valuable economic assets.

Former presidential candidate of the Labour Party (LP), Mr Peter Obi, on Monday urged the Independent National Electoral Commission (INEC) and other relevant agencies to thoroughly scrutinise the academic credentials of candidates ahead of the 2027 polls to prevent the embarrassment of letting certificate forgers into public offices in the country.

He noted that, for example, some political office holders today came into office in 2023, using questionable certificates or swore to affidavits defending the certificates they possess

According to the Peter Obi Media Reach (POMR), the former governor of Anambra State, gave his views on his X handle on Monday.

Writing on ‘The danger of making crime a norm’, he stated, ‘Whenever I talk about Nigeria being a crime scene, those who are part of the criminality and their hirelings will quickly start their noise-making, attacking and blackmailing me.

‘But how do you tell people that those whose integrity, character and behaviour are supposed to be exemplary and emulated in society have become the very source of the nation’s decay? How do you tell young Nigerians to be honest and upright when those they are supposed to emulate are the least to be emulated because they are criminals and dishonest?

‘Certificate forgery is a serious criminal offence in all countries of the world. It is one of the most corrupt practices heavily punished.

‘In one of my knowledge-seeking visits to Indonesia early this year, after interacting with several ministers responsible for Health, Villages, SMEs, Planning, and Education, as well as the Vice President and President Joko Widodo on development, I met with the Chairman of the General Elections Commission of Indonesia. I asked him about the educational qualifications required to participate in elections from local government to the state legislature, governorship, and up to the presidential level. He openly stated these qualifications to me.

‘My team and I then asked a simple question: What happens if someone contests for public office with a forged certificate or did not attend the school he claimed he attended? He looked at me, surprised and shocked, and said, ‘That attracts immediate disqualification and prosecution. It is a criminal offence. He added, ‘If someone can forge a certificate, how can that person be trusted to lead others?’

Obi, in the tweets shared by the Spokesman of POMR, Mr Ibrahim Umar, wrote further, ‘But in my country Nigeria, though the laws are same as in other countries, that forgery is punished by immediate disqualification, the Independent National Electoral Commission (INEC) makes no effort to scrutinize certificates before the elections, overlooks complaints of forgery and when you challenged after the elections, court will dismiss the serious criminal issues as ‘pre-election matters’ without giving this criminal act appropriate punishment.

‘INEC, even after the elections, does not bother to revisit or investigate these serious offences before the next election.

‘The other concerning issue from all these is how criminals and dishonest people scale through all the scrutiny layers -security, parliament and government apparatus set to handle such.

‘Even more disturbing, amounting to double tragedy, is that most of these dishonest people swore to an affidavit before a law court attesting to the authenticity of the documents they presented.

‘We are now preparing for the 2027 general elections. INEC has enough time to investigate past complaints about various forms of forgery and false claims.

‘Our Electoral amendments must include that anyone intending to contest for any public office, whether an incumbent or a new candidate, must submit all academic certificates to the electoral body immediately after party primaries, at least six months before the election. These certificates, alongside details of schools attended, what was studied and years of study, should be made public for verification within 90 days. This process must also apply to appointed officials, ministers and even aides, because when dishonesty starts from the top, it spreads to every level of governance, just like it’s happening now.

‘We must deal with certificate forgery holistically with the seriousness and level of criminality it deserves. Criminal offences should not be dismissed as a mere procedural matter. We must end the era where forgery and deceit are rewarded with power. True leadership must begin with truth.’

The Senate is set to address growing claims of a ‘Christian genocide’ in Nigeria, which have been circulated both locally and internationally by some media outlets, advocacy groups, and religious organizations.

Lawmakers say the narrative misrepresents the country’s complex security challenges as purely religious.

A motion titled ‘Urgent Need to Correct Misconceptions Regarding the Purported ‘Christian Genocide’ Narrative in Nigeria and the International Communities’ will be debated on Tuesday.

The motion, sponsored by former Senate Leader Ali Ndume, has Senators Sani Musa (Niger East), Magatakarda Wamako (Sokoto North), and Ibrahim Bomai (Yobe South) as co-sponsors.

According to a copy of the motion seen by Tribune Online, the senators said the aim is to correct what they described as a distorted narrative in some international media reports portraying Christians as the sole victims of Nigeria’s violence.

They noted that ‘serious security challenges including terrorism, insurgency, banditry, communal conflicts, and targeted attacks which have affected citizens across various religious, ethnic, and regional backgrounds, resulting in loss of lives and property among both Christian and Muslim communities’ are being wrongly presented in religious terms, a development they warned could further divide the country.

The move follows the Presidency’s recent response to United States Senator Ted Cruz, who alleged that Nigerian officials were ignoring or supporting mass killings of Christians by Islamist militants.

Cruz, in a post on his X handle, claimed that Christians in Nigeria were facing systematic persecution.

Responding, Bayo Onanuga, Special Adviser to the President on Information and Strategy, dismissed the claims as false and misleading. He said Nigeria’s security problems are caused by terrorism, banditry, and criminality-not religious persecution-adding that the country enjoys religious harmony.

Ndume and his co-sponsors expressed concern that the US Senate and Congress may have been influenced by such claims and could move to label Nigeria a ‘Country of Particular Concern,’ a designation typically reserved for nations accused of human rights or religious freedom violations.

They urged the Senate to reject the characterization of Nigeria’s security crisis as a ‘Christian genocide’ and to reaffirm that the ongoing conflicts stem from socio-economic, ethnic, and criminal factors that cut across religious lines.

The lawmakers also called on the Federal Government to ‘encourage diplomatic missions especially US Embassy, International organisations, and foreign media to rely on verified, balanced, and credible sources-including security agencies, local communities, and independent observers-when reporting on religiously sensitive issues in Nigeria.’

They further advised the government, through the leadership of the 10th National Assembly, to ‘engage US Senate and Congress; international partners and diaspora networks through official briefings and fact-based publications to correct misconceptions.’

They also proposed that Nigeria ‘support interfaith peacebuilding programmes that emphasise shared victimhood and national unity’ and ‘ensure justice and accountability for all victims of violent attacks-whether Christian, Muslim, or otherwise-to address impunity and rebuild public confidence in state institutions.’

Oyo Governor, Seyi Makinde, has constituted an 11-member committee to plan and coordinate the celebrations, as part of preparations to commemorate the 50th anniversary of the creation of Oyo.

The Governor named Hon. Saheed Akinade Fijabi, a former member of the House of Representatives, as Chairman of the committee for Oyo @ 50 anniversary.

The appointment was formally conveyed in a letter signed by the Chief of Staff to the Governor, Otunba Segun Ogunwuyi, and made public on Monday.

Also appointed as Deputy Chairman is the immediate past Head of Service in the state, Alhaja Ololade Agboola.

Other members of the committee include Dr Ajuwon, OON, Mustapha Razaq Areo, Alhaja Fatimah Ololade Azeez, S.A. Adejumo, Pastor John Olasunkanmi Alabi, Alhaji A.K. Bello, Mrs. Ronke Adedayo, who will serve as Secretary of the committee, COMPOL Fatai Owoseni (Rtd.), Mr. Samuel Adegboyega Badejo, Director General of Protocol, Oyo State Government

The committee is expected to immediately commence work and put forward a comprehensive roadmap for a befitting celebration of the state’s golden jubilee.

Oyo State was created on February 3, 1976, following the breakup of the old Western State. The upcoming anniversary in 2026 marks 50 years since its establishment, a milestone the state government says deserves significant reflection, celebration, and public engagement.

Governor Makinde, in the appointment note, expressed confidence in the capacity of the committee members, drawn from both public and private sectors, to deliver a memorable and impactful celebration.

The Governor has also mandated the committee to work closely with relevant ministries, agencies, and stakeholders across the state to ensure inclusivity and statewide participation in the anniversary programmes.

The committee’s terms of reference are expected to include designing the theme and logo for the Oyo @ 50 celebration, recommending and coordinating activities to mark the anniversary, collaborating with corporate, traditional, and community stakeholders, and showcasing the state’s historical achievements, cultural heritage, and developmental milestones.

The appointment takes immediate effect, and the committee is expected to submit its preliminary report within a defined timeframe.

Lagos State Governor, Babajide Sanwo-Olu, has called for greater collaboration on flood-resilient measures to protect lives and livelihoods and strengthen Lagos’ capacity to adapt to the impacts of climate change.

The governor, who was represented by the Secretary to the State Government, Bimbola Salu-Hundeyin, made the call at the World Habitat Day 2025 celebration, held on Monday, October 6, at The Blue Roof, Lagos Television (LTV), Agidingbi, Ikeja.

He said that this year’s theme, ‘Urban Crisis Response: Flooding in Focus’, reflected the realities of Lagos as a coastal megacity and underscored the need for decisive and sustained action.

According to him, flooding had become a persistent urban challenge that demanded proactive long-term planning, sustainable investment, and active community engagement.

Sanwo-Olu explained that urban resilience had been a core component of the State’s development framework, the T.H.E.M.E.S.+ Agenda, with the Lagos State Resilience Office (LASRO) coordinating policies and projects that mitigate flood risks.

He urged private investors, development partners, and innovators to cooperate for sustainable and resilient Lagos, especially in the areas of climate adaptation and mangrove restoration in coastal areas as exemplified by the worthy partnership of the Dangote Group.

‘Investing in flood-resilient housing, smart drainage systems, renewable energy, and urban-risk insurance will safeguard communities while creating new avenues for growth,’ he said.

He added that his administration’s goal was to make Lagos not only livable but also sustainable for future generations.

In his welcome remarks, the Commissioner for Physical Planning and Urban Development, Dr Oluyinka Olumide, described World Habitat Day as an opportunity for governments and citizens to reflect on the state of human settlements and reaffirm commitment to sustainable urban planning.

He said that flooding in Lagos was not theoretical but a lived experience that demands proactive governance, stronger enforcement of development regulations, and the integration of climate adaptation principles into urban design.

Olumide emphasised that physical planning was beyond permits and building approvals as it embraced community resilience, sustainable construction practices, and inclusive development.

He commended Governor Sanwo-Olu’s leadership for prioritising infrastructure renewal, flood control, and dignified housing delivery across the state.

The Permanent Secretary, Office of Physical Planning, Engr. Oluwole Sotire appreciated all partners, youth participants, and stakeholders for contributing to the success of the event while reaffirming the state government’s resolve to deepen collaboration with all sectors to build a more sustainable and flood-resilient Lagos.

Goodwill messages were given by the Special Adviser, e-GIS and Urban Development, Dr. Olajide Babatunde, Chairman, Association of Town Planning Professionals( ATOPCON), Tpl. Hakeem Badejo and the Chairman, Nigeria Institute of Town Planners, Lagos State, Tpl. Dele Akindele, while the Permanent Secretary, Office of Drainage Services and Water Resources, Engr. Mahmood Adegbite.

The 2025 World Habitat Day celebration featured expert lectures, exhibitions, and youth debates showcasing innovative solutions in housing, flood management, and environmental sustainability.

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called for a structured and collaborative framework for cryptocurrency regulation in Nigeria, emphasizing that the nation stands to gain significantly from the global digital asset boom-if properly managed.

Speaking at the inaugural CBN Governor’s Lecture Series held at the Lagos Business School (LBS) on Friday, Cardoso reflected on the rapid evolution of digital currencies and the regulatory loopholes that allowed crypto trading to grow largely unchecked in previous years.

He noted that Nigeria has become one of the leading markets for digital asset transactions in the world, with citizens trading billions of naira worth of crypto assets annually. However, he cautioned that the sector’s potential can only be maximized through a clear, transparent, and enforceable regulatory roadmap.’Nigerians can indeed benefit from the crypto revolution, but it must be under a properly regulated environment,’ Cardoso said. ‘Our goal is to foster innovation while maintaining financial stability and protecting investors.’

The CBN governor disclosed that the apex bank, in collaboration with the Securities and Exchange Commission (SEC), is developing a comprehensive framework to govern the use of digital currencies and crypto-based financial products.

The initiative, he explained, seeks to balance innovation with the safety and soundness of the financial system.

Industry experts project that a well-regulated crypto market could attract up to $15 billion in foreign direct investment, enhance financial inclusion for millions of unbanked Nigerians, and drive economic diversification amid fluctuating oil revenues.

Cardoso said the CBN-SEC collaboration would focus on strengthening oversight, fostering transparency, and mitigating riskssuch as money laundering and terrorism financing. He added that regulated crypto could also boost stablecoin adoption, citing examples of local platforms already leveraging digital tokens to accelerate payments and settlements.

As Nigeria deepens its transition toward a digitally driven economy, Cardoso reaffirmed the CBN’s commitment to creating an ecosystem where innovation thrives under prudent regulation.

‘By embracing proper regulation, Nigeria can unlock its fintech potential and position itself as a continental leader in digital finance,’ he stated.

The Board of Stanbic IBTC Holdings PLC has announced the appointment of Mr. Chukwuma Nwokocha as the substantive Group Chief Executive, with effect from 02 October 2025, following the receipt of all required regulatory approvals.

Mr. Nwokocha’s appointment follows the completion of Dr Adekunle Adedeji’s tenure as Acting Chief Executive, during which time the Board undertook a formal appointment process in accordance with regulatory requirements. Dr Adedeji will continue in his role as Executive Director/Chief Finance and Value Management Officer of the Company.

Commenting on the development, Mrs Sola David-Borha, the Chairman of the Company, expressed the Board’s delight at Mr Nwokocha’s appointment, highlighting his strong track record in board governance, financial oversight, strategic transformation as well as regulatory engagement.

The Chairman also extended the Board’s deep appreciation to Dr Adedeji for his exemplary leadership and dedication; and for steering the affairs of the Company and Group during the transition period: ‘It is worthy of mention that under Dr Adedeji’s leadership, the Group recorded its best financial performance since inception. The Group also successfully completed its Rights Issue Programme which ensured that its banking subsidiary met the Central Bank of Nigeria’s recapitalization requirements ahead of the 31 March 2026 deadline.