Category: PM News

Zenith Bank Plc’s Founder and Chairman, Dr. Jim Ovia, CFR, accompanied by the bank’s Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, on Tuesday, October 14, 2025, carried out the prestigious closing gong ceremony at the Nigerian Exchange (NGX), marking a significant milestone in the bank’s continued partnership with the capital market and the official closing of the trading day. The ceremony highlights Zenith Bank’s strong relationship with the NGX and its commitment to transparency, accountability, and bolstering investor confidence.

While speaking at the Nigerian Exchange, Dr. Umeoji expressed her delight in participating in the closing gong ceremony, acknowledging the NGX’s visionary leadership and innovative initiatives. ‘We are delighted to be here today to perform the closing gong ceremony – a symbol of shared progress and enduring partnership,’

Dr. Umeoji said. ‘The NGX’s leadership has been very creative and innovative, and their electronic trading platform – X-stream played a pivotal role in the success of our recapitalization exercise, which achieved a 160% subscription. The bank’s stock price has doubled since the recapitalization exercise, from N36.50 per share to N68. Zenith Bank has also reported impressive financial results for the Half Year (H1) of 2025, becoming the most profitable bank in Nigeria and paying the highest dividend in the industry for the half year.’

‘We are committed to creating value for our stakeholders and will continue to partner with the NGX to boost the Nigerian economy,’ Dr. Umeoji added. ‘Our expansion strategy is focused on following our customers’ businesses and ensuring that we go to countries and economies where we can scale and provide more returns for our shareholders.’

She stressed that the bank plans to make good on its promise of being investors’ delight by paying quantum dividends to its shareholders by year end.

According to her ‘For us in Zenith, we are looking forward to paying more based on the confidence the market reposed on us. We are working assiduously to ensure that we do not disappoint the Market. We are going to continue to be the investors’ delight, and we assure the market that we would continue to pay enhanced dividends come end of the year.’

Also commenting, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama emphasised the role of the NGX in creating value in the Nigerian economic space.

He said, ‘I want to thank you all for making the market what it is. Without you, the market wouldn’t have seen the leap that it has achieved in the last one-and-half year. I spoke earlier that at my assumption of office, market capitalization stood at N55 trillion, today it is hovering around 89 trillion and 93 trillion. That was not done by a spirit, it was done by you. Your ability, tenacity, courage, vision and transparency have moved the market where it is. Our vision is that by next year, we will have the market at 200trn.’

The Doyen of the NGX, Alhaji Rasheed Yusuf while giving his remarks, lauded the Founder and Chairman, Zenith Bank Plc, Jim Ovia, CFR for his vision and leadership. He ended by referring to him as the ‘Doyen of the Commercial banking sector’.

Zenith Bank remains committed to creating long-term value for its stakeholders while driving economic development in Nigeria. As the bank continues on its growth trajectory, it has its sights set on global expansion. The bank intends to strategically leverage the capital raised from the Market to enhance its scalability and deliver enhanced services to its valued customers.

The Bank’s track record of excellent performance has continued to earn the brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and ‘Nigeria’s Best Bank’ at the Euromoney Awards for Excellence 2025.

The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 to 2025 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and 2024 to 2025 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year at the Nairametrics Capital Market Choice Awards 2025.

Some stakeholders have expressed concerns regarding the changes introduced to the capital gains tax regime under the new tax reform laws effective from 1 January 2026.

This note provides context to the reform and clarifies the issues that are frequently raised.

1. ()?

CGT is a tax charged on the profit (or ‘gain’) made from the disposal of certain assets such as shares and real estate. Only the gain, not the total proceeds, is subject to tax. A flat rate of 10% applies to all chargeable gains under the current laws.

2. 10% 30%?

The CGT rate has not been increased to 30%. Instead, CGT has been integrated into personal and corporate income tax. This means the tax you pay on capital gains depends on your overall income level or company profits, making the system more progressive. Effectively, the applicable CGT rate under the new laws ranges from 0% to 30%.

3. ?

The reform makes CGT progressive so that low-income earners either pay no CGT or pay less, while higher-income earners contribute a fairer share. It also helps reduce distortions where income could previously be misclassified as capital to enjoy a lower, flat CGT rate.

4. ?

-CGT only applies to net gains, since capital losses can be offset against capital gains.

-Proceeds from sales not exceeding ?150 million annually where the gains are not more than ?10 million, are exempt. This means about 99% of individual investors are effectively exempt.

-Where the proceeds exceed the exemption threshold, CGT is not due if such proceeds are reinvested into the shares of a Nigerian company.

-Institutional investors such as pension funds are exempt from CGT, just as they are from corporate income tax.

-Companies undergoing reorganisations, mergers, or restructurings are not subject to CGT on those transactions.

5. ?

No. CGT revenue is historically very small, less than 2% of what is collected from Companies Income Tax (CIT) and Value Added Tax (VAT). The reforms are about harmonisation, fairness and efficiency. In fact, businesses will benefit far more from reduced CIT rates and broader VAT input credits. For instance, the FIRS collected only ?52 billion from CGT in 2024 compared to over ?15 trillion from CIT and VAT. The reduced CIT rate and broader VAT credit is estimated to benefit businesses in the region of ?4.5 trillion.

6. ?

Most foreign investors can claim tax credits in their home country for taxes paid in Nigeria, under double taxation agreements or unilateral tax relief. This means CGT paid in Nigeria will often not be an additional cost.

7. ?

No. The new rules are consistent with international best practice. Many countries already apply progressive tax treatment to capital gains, and exemptions for small investors and reinvestment make Nigeria’s regime competitive. When considered holistically, the lower CIT rate and broader input VAT credit in the new tax laws will improve profitability of companies, equity valuations, and enhance overall investor returns.

8. ?

No. The CGT reform applies to all chargeable assets, unless specifically exempt. Examples of exemptions in addition to the threshold for shares include:

-Individuals selling up to two personal vehicles per year.

-The sale of an owner-occupied residential property.

9. ?

Not directly. Inflation and currency risks affect all investments and cannot be eliminated through tax laws. Investors are expected to manage these risks as part of their broader investment strategies.

10. ?

The changes will come into effect from 1 January 2026. Details regarding application to existing investments, historical cost, and compliance requirements will be covered under implementation guidelines with inputs from stakeholders.

: The reforms make CGT fairer, protect small investors, align Nigeria with global best practice, and provide wider tax reliefs that benefit businesses more than the limited CGT collections.

The Nigeria Labour Congress (NLC) has condemned the Federal Government’s enforcement of the ‘No Work, No Pay’ policy, insisting that the principle should instead be ‘No Pay, No Work.’

NLC President, Joe Ajaero, made the declaration on Wednesday while addressing journalists after a visit to Governor Alex Otti in Nvosi, Isiala Ngwa South Local Government Area of Abia State.

The stance followed a circular issued by the Federal Government on October 13, 2025, signed by the Minister of Education, Dr Tunji Alausa, directing vice-chancellors of federal universities to strictly enforce the policy against members of the Academic Staff Union of Universities (ASUU) currently on strike.

Ajaero described the directive as ‘illogical, unjust, and insensitive,’ stressing that it was unreasonable to expect productivity from workers who were being denied their legitimate entitlements.

‘The cause is non-payment, and the consequence is no work,’ Ajaero said.

He argued that since 2009, the government had repeatedly failed to honour agreements reached with unions, which had led to persistent strikes across various sectors.

The NLC president advised the government to address the underlying issues rather than punishing affected workers, warning that continued neglect of the education sector was eroding Nigeria’s human capital base.

He disclosed that unions in the education sector would meet on Monday to discuss a collective response to what he termed the government’s ‘consistent neglect and insensitivity.’

‘Threats to withhold salaries are driving teachers and lecturers abroad. Fixing education will strengthen the economy and ensure national stability,’ he said.

On the Labour Party (LP) crisis, Ajaero reaffirmed that the NLC remained the legitimate owner of the party, as it held the original certificate of registration.

He dismissed those claiming ownership as ‘birds of passage’ and announced plans to reorganise the party through ward, state, and national congresses.

Turning to Abia State, Ajaero commended Governor Otti’s administration for progress in workers’ welfare but called for urgent salary harmonisation.

He noted disparities where some junior officers reportedly earned as much as, or more than, their seniors due to incomplete salary adjustments.

Ajaero urged the state government to correct the anomalies promptly to promote fairness, proper promotion structure, and lasting industrial harmony among Abia workers. (NAN)

Nollywood actor Kunle Afod, has announced the death of veteran actress Iya Ile Okan. Afod on his Instagram page expressed his deep sorrow over her passing.

‘We finally lost her. May her perfect soul continue to rest in peace. It’s a final wrap,’ he wrote.

The actor had visited her home in Ogun state, revealing that the veteran was struggling to pay medical bills. He also appealed for assistance on her behalf, revealing that she needed financial help.

‘Iya Ile Okan really needs God’s intervention,’ he noted.

The news of her passing was met with tributes from her fans and colleagues. They described the actress as a beloved mother figure in the Nollywood industry.

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, says the recent wave of defections by governors and top members of the Peoples Democratic Party (PDP) to the ruling All Progressives Congress (APC) shows that his decision to support President Bola Ahmed Tinubu was the right one.

Wike said this on Wednesday during the flag-off of construction work on the main carriageways of the Outer Southern Expressway in Abuja.

He noted that many of those who once accused him of betraying the PDP by working for the APC are now joining the same party.

‘I’ve been watching television and social media. The same people who said I wanted to destroy the PDP and that I was working for the APC are now in the APC,’

Wike said. ‘If that’s true, then they should thank me for helping them find the right path.’

His comment came after the recent defections of Enugu State Governor Peter Mbah and Bayelsa State Governor Douye Diri to the APC.

Both leaders said they moved because they share President Tinubu’s vision for the country.

With Diri’s defection along with 19 members of the Bayelsa House of Assembly the PDP now controls only eight states, down from 11 last year.

Wike, a former Rivers State governor and member of the G-5 group of PDP governors, said the defections show Tinubu’s leadership is working.

‘In the past, governors were begging banks to lend them money for projects and salaries.

Now, banks are the ones chasing states. That’s because of the leadership of one man President Tinubu,’ he said.

He added that Tinubu’s economic reforms, including the removal of fuel subsidy, have helped states pay salaries and start development projects-something previous governments were afraid to do.

Wike also assured Abuja residents that his administration would continue delivering on its promises. He said the dualisation of the Outer Southern Expressway shows the FCT is making progress with the President’s support.

Speaking about the relocation of traders from Apo, he said the government had already received cost estimates for developing their new site, showing progress on the resettlement plan.

Wike praised the cooperation among FCT area council chairmen, saying leaders from different parties are now working together for the city’s progress.

‘This has never happened before. All council leaders, no matter their political party, are united in supporting the FCT’s development,’ he said.

He also acknowledged former Super Eagles captain Joseph Yobo, who attended the event, and said the FCT administration plans to work with him on youth empowerment projects.

‘This administration will continue to focus on infrastructure and youth development.

With people like Yobo involved, we can do more for young people in Abuja,’ he added.

Wike concluded by saying Nigerians must learn to appreciate good leadership, no matter the political party.

‘When you see leadership that is bold and visionary, you must acknowledge it,’ he said. ‘That’s what our country needs decisive leaders who can deliver real results.’

The Outer Southern Expressway project is part of efforts to reduce traffic and improve transportation within Abuja.

Nigerian singer and actor, Idowu Adeyemi, popularly known as Yhemolee, has expressed frustration over the way social media is being used by Nigerians.

According to him, many people have now turned online platforms into ‘begging sites’, constantly asking for money from strangers.

Yhemolee noted that social media has become a breeding ground for professional beggars, saying that the only difference between them and those on the streets is that the online beggars have internet data.

‘It’s no longer news that social media isn’t social media anymore. It’s now a begging site,’ he said.

‘The only difference is that unlike the beggars on the road, the beggars on the internet have data.

These days, when you post a picture, the first ten comments are account numbers. My major problem is those who have a PhD in begging. Please omit all those begging from my own picture.’

The entertainer, who rose to fame with his hit song ‘Mon Cheri’ featuring Chinko Ekun and Asake, as well as roles in Nollywood blockbusters like ‘Gangs of Lagos’ and ‘Alakada: Bad and Boujee,’ said the trend is becoming disturbing.

After eighteen years of shutting down its production plant in Port Harcourt and eventual exit from Nigeria, French tyre manufacturing giant, Michelin, is planning a ‘strategic’ comeback to the country.

This came to light during TechCabal interview with the Managing Director and Vice President of Sales for Michelin Sub-Saharan Africa, Amaury Vadon.

Michelin, which was the leading brand in the Nigerian tyre market in the 20th Century shocked the world when it shut down its production plant located in the oil-rich capital of Nigeria’s Rivers State in 2007.

The unfortunate shutdown was due to the very unfavourable business climate in the country at the time.

Though the company has not announced plans to reopen a factory, according to the news report, ‘it wants to rebuild its brand visibility, strengthen local presence, and position Nigeria as a key growth hub in Sub-Saharan Africa.’

Michelin’s shutdown of production which marked the end of an era in Nigeria’s tyre manufacturing history, was followed by exit of its major competitor, Dunlop.

Factors accurately adduced for their ‘deaths’ in Nigeria include unfavourable business conditions, inconsistent government policies, and the influx of cheaper Asian imports.

TechCabal further noted that in 2008, 90% of tyres sold in Nigeria were imported, up from just 25% in 2005, a shift that reshaped the industry entirely.

‘Today, Nigeria’s tyre market is worth an estimated $820 million, projected to hit $1.12 billion by 2030 at a 6.4% compound annual growth rate. Yet, despite growing demand, driven by the country’s 40 million-strong vehicle fleet and expanding road networks, the market remains dominated by low-cost brands. About 80% of Nigerian consumers buy budget tyres, mostly from Asia,’ the medium wrote.

Michelin reportedly views this major challenge as an opportunity.

However, Michelin MD Amaury Vadon was quoted to have said, ‘It’s true that after the shutdown, many Nigerians thought Michelin had left the country. But Michelin never truly left. We may have stopped manufacturing, but we remained commercially active and are now more present than ever before.

‘We are not importers or distributors. We have Michelin employees in Nigeria. That’s a key difference. We believe in having people who can explain our value, our innovation, and why Michelin products matter.’

Towards the strategic comeback, it’s revealed, Michelin has restructured its operations in Nigeria, transitioning from an export model to a fully owned local agency. The company now maintains an office on Victoria Island, Lagos, staffed by Michelin employees who oversee direct sales, marketing, and customer engagement.

The company’s renewed focus is on two major growth segments: passenger car tyres and beyond-road activities such as agriculture, construction, and port operations. The size of the passenger car tyre market in Nigeria for 2025 is estimated at over $0.82 billion for producer and importer revenues, with passenger car tyres being the dominant segment in the nation’s overall tyre market.

Popular passenger car tyres in Nigeria, such as 195/65R15 and 205/70R15, measure about 195-205 millimetres in width and fit 15-inch wheels.

Their proportions and related variants are valued for their strength and reliability on rough local roads.

Nigeria’s evolving automotive landscape, with a growing preference for larger, high-end vehicles, drives demand for premium tyres in the 18-inch-and-above category, and confidence already built by the current government’s bold policies of economic reforms, ongoing road construction and infrastructure projects which have created new opportunities in heavy-duty and off-road segments, must have inform the company’s decision to fully return to the country.

Afrobeat legend Fela Anikulapo Kuti was indeed a maverick. Not only was it difficult to get a handle on him, he resisted throughout his life every attempt to put him in a box. That resistance also informed his rebellious spirit, his radicalism and his fight for the betterment of the masses.

Twenty-seven years after his death, Fela’s intriguing story remains more captivating. While many view him as a genius, others see him through the prism of his unconventional lifestyle. Still others perceive him as a radical who fought for good governance and the betterment of the masses.

However, Fela is more than all of these put together. The Afrobeat Rebellion Exhibition, which opens from October 12 through December 28, 2025 at the Ecobank Pan African Centre, Lagos, offers Nigerians a rare opportunity to see not just the different sides to the maverick fondly called Abami Eda but also his natal origin, what made him tick and why 27 years after his transition, he still remains a talking point.

The exhibition, which spans 12 weeks of programming, is indeed a full package. One gets to see the different aspects of Fela’s life, his music, his iconoclastic lifestyle, his rebellious spirit, and his humanity, to mention a few. Nothing about Fela’s larger-than-life persona is left out. Even little details such as his family and ancestral history, periodic images of Lagos, his daily life in Kalakuta republic, the queens, the historical garments he wore, even his underwears, his musical instruments, albums, newspaper reports and archival materials are all on display.

The exhibition also includes aspects such as The Talks, Kalakuta Cinema, Young Rebels’ Corner, and live performances by Femi and Made Kuti, among others. General admission into the exhibition is free and open Fridays to Sundays (10:00 AM – 6:00 PM), with Thursdays reserved for VIP and institutional visits, while RSVPs are required for talks, workshops, book readings, and cinema screenings due to limited capacity. Ticketing is available via Luma.

‘For the first time probably in the history of exhibitions in Nigeria, we have a three-month program. So, our partners at Ecobank have been generous enough to give us this space for three months. And during those months, we’re going to have fortnightly concerts, talks, programs for children, spoken word competitions, and also opportunities for people to learn.

‘So, during this whole process, we trained scenographers to teach them how to design exhibitions. We’ve been working with people who want to do audiovisuals, learn how to do audiovisuals that are specific to art exhibitions. So, we’ve really been thinking about how this opportunity creates capacity and new ways of knowledge for the next generation,’ Papa Omotayo, founder of the A Whitespace Creative Arts Foundation, told journalists while taking them on a tour of the exhibition.

The exhibition is being organized by A Whitespace Creative Arts (AWCA) Foundation, in collaboration with the French Embassy in Nigeria, the Kuti family, and the Philharmonie de Paris, and it honors Fela’s life, music, and activism in the city that birthed Afrobeat.

However, the opening night on Sunday, 12 October drew artists, diplomats, cultural leaders, and Fela’s family. They all gathered under one roof to celebrate the Abami Eda’s enduring spirit. Hosted by Folu Storms, the evening featured performances by Ezra Collective and Seun Kuti and Egypt 80, alongside goodwill remarks from Laurent Favier, French Ambassador to Nigeria, and a representative of the Lagos State Governor. The symbolic ribbon-cutting officially declared the exhibition open, led by members of the Kuti family, Ecobank representatives, and the Lagos State Government.

Inside the halls, guests explored a powerful, multi-sensory journey through Fela’s world; from rare recordings and archival photography to immersive reconstructions of Kalakuta and the Afrika Shrine. And the night ended in true Fela fashion, with rhythm, movement, and communion, as the crowd danced and toasted to the resilience of Afrobeat.

Seun Alli, founder of JCAA and curator of the exhibition, said the three-month long exhibition aims to reposition Fela and make people see his different sides and broaden their perception.

‘Too often, Fela is reduced to a handful of catchphrases and uninformed stories – Zombie, Water No Get Enemy, the Kalakuta fire, marrying 27 women, or even the unfounded claim that he performed on stage in his underwear.

‘Curating Afrobeat Rebellion in Lagos is a deliberate refusal of this flattening. It aims to reposition Fela not merely as a musician or rebel, but as a public intellectual whose music and philosophy are deeply intertwined with Africa’s social, political, and intellectual histories.

‘His work was never just style or spectacle; it was a catalyst of revolt and hope, the soundtrack for those living under oppression, corruption, and the daily failures of power. Nearly three decades after his passing, it remains a profound mystery how Abami Eda’s philosophy continues to resonate so powerfully across all facets of our shared human experience,’ Alli noted.

Still, an interesting thing about the Afrobeat Rebellion Exhibition is that a similar exhibition on Fela was held in Paris in 1922. And not only is this the first time it is being organized in Lagos, it is on a much bigger scale than the one in Paris. And the fact that the exhibition has been held in France and Nigeria speaks volumes about the cultural ties between both countries.

Laurent Favier, who represented the French Embassy, for his part, said: ‘Supporting the Afrobeat Rebellion in Lagos reflects our belief that culture is a bridge. It is a logical and welcome follow-up to the successful exhibition in Paris. This project is both a celebration of Franco-Nigerian collaboration and a cultural gift, honoring Fela’s legacy – who was very appreciated in France – while deepening the dialogue between our two nations.’

However, Omotayo, for his part said: ‘As you can see, the exhibition is broken into about ten sections, starting with his early life, which you get some sense of Fela’s family and ancestral history, and it sort of brings you into the next area, which is Lagos, maybe, which is really just to impress the context of Lagos and how critical Lagos was in not just Fela’s music, but also in his legacy.

‘You think about the shrine, the people, but Fela was ultimately a political, rebellious musician that was situated in Lagos, and his response and his music has that Lagos energy that has passed through many generations. And you see so many people in Afrobeats now sort of taking on that legacy.’

Asked how long it took the organizers to put the exhibition together, Omotayo said: ‘There are hundreds of people that were involved in putting this exhibition together. And we’ve all been working on this for over one year. And so, this is a culmination of it.’

What then can Nigerians gain from the exhibition? ‘I think for me, personally, it’s the idea that there is always another way, and the importance of resistance. You must resist. If you feel that you do not like something that is happening, you must resist. And I think it’s important for the next generation to understand that resistance is the power that they have to make change and create any world that they want. And I think Fela represents that. And their voice is powerful,’ Omotayo maintained.

United Bank for Africa (UBA) Plc, is set to reinforce its role in shaping the continent’s financial ecosystem with the launch of its landmark whitepaper.

The whitepaper, titled ‘Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,’ will be unveiled on the sidelines of the World Bank-International Monetary Fund (IMF) Annual Meetings in October 2025 in Washington, D.C., placing Africa’s economic agenda at the heart of global financial discussions.

The document presents a comprehensive and actionable framework for unlocking Africa’s vast economic potential, providing analysis of critical growth pillars including trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth, while showcasing strategies for leveraging domestic capital alongside strategic global partnerships to access the continent’s $3.4 trillion single market potential under the African Continental Free Trade Area (AfCFTA).

UBA’s Group Chairman, Tony Elumelu, who emphasised the strategic importance of this whitepaper, explained that over the past few years, the bank has become an active leader in conversations and activities that drive tangible investments to the continent.

‘UBA is shifting Africa’s development agenda from talk to action. With this whitepaper, we are championing initiatives that convert strategic dialogue into bankable projects and direct investments. Our commitment to execute these plans for the benefit of the continent and its people cannot be overemphasised,’ Elumelu said.

‘We are committed partners in Africa’s development and sustainability and will continue to provide the capital, the platform, and the network needed to transform Africa’s vast potential into economic growth,’ he added.

UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, remarked on the white paper’s significance, highlighting the urgent need for private sector leadership.

‘This whitepaper is a call to action and a statement of our capability,’ Alawuba said.

‘It underlines our unique position in facilitating the partnerships and capital flows required to finance Africa’s future, providing the blueprint for action. The document delivers critical insights at a defining moment for Africa’s financial infrastructure.’

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with more than 25,000 employees group-wide and serving over 45 million customers globally.

Operating in twenty African countries and the United Kingdom, the United States of America, France, and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

A Kano State High Court, presided over by Justice Musa Dahuru Muhammad, has sentenced Hayatu Muhammad, a coach of one of Kano’s prominent football clubs, to serve eight years in prison, without option of fine.

Hayatu bagged his eight-year jail term, on Wednesday, for committing sodomy against one of his players, a minor.

Evidence before the Court showed that

Hayatu, a resident of Sanka in Kano Metropolis, was found to have committed the act twice at different locations.

The prosecution Counsel, Barr. Ibrahim Arif Garba, provided five witnesses who testified against Hayatu.

The offense contravenes Section 284 of the Penal Code Law.

Justice Dahuru, after reviewing all the testimonies of the witnesses and the evidence presented during the trial, upheld that the defendant committed the offense as charged.

He sentenced him to four years for each of the two counts.

Justice Dahuru further ordered that the sentences run concurrently, beginning from the day of the judgment.