Category: The Nation – Nigeria

Sterling Financial Holdings Company Plc. (‘Sterling Holdco’), the parent company of The Alternative Bank, Sterling Bank, SterlingFI, and a number of other novel business solutions, has witnessed a very positive response to its public offer, as investors rally for a stake in the company’s future. The public offer, launched on September 17, 2025, has quickly become one of the most talked-about opportunities in the Nigerian financial market, with analysts predicting that the offer will prove to be amongst the most lucrative in the sector’s investment landscape.

The Sterling Public Offer has sparked widespread interest, with market experts noting that the price, which is about six per cent below its current trading price, presents an attractive entry point for both institutional and retail investors. The offer is set to close soon, but the rapid pace of interest has led many to speculate that the full subscription has already been reached or even exceeded much earlier than expected.

According to leading financial analysts, Sterling Holdco’s strategic expansion plans, solid market position, and innovative financial products have positioned it as a major contender in Nigeria’s banking sector.

The public offer is widely regarded as an exciting proposition for investors looking to capitalise on a company with strong fundamentals and an ambitious growth trajectory. With a price point set at a discount to current trading prices, the offer is seen as a compelling opportunity for both long-term and short-term investors.

Sterling Holdco has consistently demonstrated a commitment to innovation and sustainable growth. One of the most compelling indicators of the company’s underlying strength is the impressive growth of its share price. In the past year, the Holding company’s share price has grown steadily from N4.00 to nearly N8.00 per share. This increase in the company’s stock price speaks volumes about the underlying value and confidence in its business model, leadership, and growth trajectory.

Sterling Holdco, known for its strategic ownership of two banks, a wealth management company, and a number of innovative consumer businesses, is seeking to raise additional capital through the issuance of 12.58 billion ordinary shares at N7.00 per share. The proceeds from the public offer will be strategically deployed to further strengthen the Holdco’s capital base and fund its growth initiatives over the next 36 months.

About Sterling Financial Holdings Company Plc. Sterling Financial Holdings Company PLC (Sterling HoldCo) is a leading Nigerian financial services group committed to enriching lives through innovation and impact with a diversified portfolio that includes Sterling Bank Limited, The Alternative Bank Limited, SterlingFI Wealth Management among others. As a HoldCo, Sterling provides strategic direction, governance, and resources across its subsidiaries, enabling each to focus on its core mandate while benefiting from group-wide expertise, technology, and oversight.

With a heritage of trust built over six decades, Sterling HoldCo is committed to financial innovation, advancing inclusion, and shaping sustainable growth in Nigeria’s economy.

The group champions customer-focused solutions and socially responsible initiatives while creating value for shareholders, employees, and the communities it serves, and continues to pioneer offerings across its core businesses in banking, payments, and technology- driven financial services.

The Nigeria Police Force has dismissed reports suggesting that Inspector-General of Police (IGP) Kayode Adeolu Egbetokun obstructed justice in a rape case involving an American citizen and an Indian national, describing the claims as untrue.

The allegations were reportedly contained in a letter addressed to the United States Ambassador to Nigeria, Richard M. Mills, by a former senior police officer.

However, a senior police source who spoke on Monday said there was no truth to the claims, stressing that the IGP remains committed to upholding justice and the rule of law.

The source added that the police leadership would not be distracted by attempts to discredit the IGP, assuring that the Force remains focused on strengthening accountability, discipline, and transparency in its operations.

The Nigeria Police further reiterated its resolve to work with local and international partners to ensure justice is served in all cases, while calling on the public to disregard unfounded allegations capable of undermining the integrity of the institution.

Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said that the administration of President Bola Tinubu has made significant progress despite prevailing challenges.

In his Independence Day message on Wednesday, Wike expressed optimism about a brighter future for the nation and called on Nigerians to remain united and peaceful.

He said, ‘On this occasion of the 65th Independence anniversary of our great nation, on behalf of the FCT Administration, I wish to felicitate with all residents of the Federal Capital Territory as we celebrate our nation’s historic event.’

‘This is a special occasion when we pay tribute to our founding fathers who laboured dauntlessly to birth a formidable country which today stands tall in the comity of nations. It is also a celebration of our brotherhood and unity, which have been woven from the loom of our diversity.

‘As such, and in keeping with the theme for this year’s celebration, all hands must be on deck to ensure that the labour of the nation’s founding fathers is not in vain. I, therefore, appeal to all residents to continue to live true to the ideals of the heroes of our land. The Federal Capital Territory remains Nigeria’s symbol of unity and nationhood; hence, we must continue to embrace peace.

‘Expectedly, today is one for sober reflection and stock-taking. This is necessary so we can look ahead with renewed hope towards a better future for the Federal Capital Territory and the nation.

‘Let me use this occasion to express my appreciation to residents of the FCT for their unwavering support for the Renewed Hope Agenda of the President, His Excellency, Bola Ahmed Tinubu, which centres on economic growth, national security, food security, sustainable development, and infrastructure development.

‘In keeping with the central objective of Mr. President’s Renewed Hope Agenda, we have made determined progress on several fronts’.

Wike said the FCT Administration, with the unflinching support of residents, will continue to work to provide first-class infrastructure and public utilities, as demonstrated in the completion and commissioning of strategic roads and public utilities.

The minister said, ‘It is our firm belief that no city can be said to be a city without a good network of roads, hence our focus on road construction. Other sectors are receiving due attention as well.

‘We have reconstructed most of our schools and hospitals and provided much-needed equipment and personnel. We have supported our farmers, promoted Micro, Small, and Medium Enterprises (MSMEs), and, by so doing, empowered our youths and women. I assure you that we will continue to work to reinvigorate the economy and enhance the living standards of the good people of FCT.

‘Residents have also remained intentional about living together in peace and harmony despite a few distractions. Consequently, the FCT has become one of the most peaceful places to reside in the entire country. This is not only due to the security measures we have put in place, but also because of zero tolerance of residents for insecurity, and their readiness to promote peace in every part of the Territory.

‘Come February 2026, the FCT will kick off the electioneering process in the country as residents head to the polls to elect new chairmen and councillors for the six area councils. I implore residents to go about campaigning for candidates of their choice in a peaceful and orderly manner. I also encourage everyone to come out en masse when the time comes, to vote for leaders who evidently have their interest at heart; leaders who have vision and capacity to attract development and prosperity to the people.’

He assured residents of the administration’s efforts in partnership with the law enforcement agencies to ensure security, law, and order in the FCT at all times.

He appealed to all residents to go about their lawful businesses, to be watchful over their neighbourhoods, and to report all suspicious movements to the law enforcement agents.

Wike said, ‘Amid the various challenges we face as a nation, we are very optimistic that the future is brighter. We have a President who is intentional about prioritising the well-being of the citizens and has brought unprecedented development to the FCT. We must, therefore, continue to work together faithfully, to ensure that FCT’s potentials and our collective aspirations are realised to the fullest.’

As the world marked World Tourism Day 2025 last Saturday, the United Nations and key tourism stakeholders across Nigeria have called for a renewed commitment to make tourism a tool for sustainable transformation. The global celebration, held in Melaka, Malaysia, centred on the theme Tourism and Sustainable Transformation.

The UN Tourism Secretary-General, Zurab Pololikashvili, urged nations and operators to reflect deeply on how tourism impacts societies and the planet. According to him, the sector’s future lies not only in visitor numbers but in how its growth contributes to people’s empowerment, cultural preservation, and environmental protection.

‘We must look beyond numbers and reflect on how our sector impacts societies and our planet,’ Pololikashvili said. ‘Sustainable transformation through tourism is only possible if we embrace new ideas and listen to new voices. That means reshaping business practices, investing in the right values, and focusing on innovation and entrepreneurship. It also means investing in education, jobs, and the training of young talents.’

He noted that World Tourism Day in Melaka has once again demonstrated that tourism can serve as a force for good when guided by sustainability and inclusivity. ‘By working together, we can transform tourism into a tool for empowerment, cultural preservation, and environmental protection,’ he added.

In a similar message, United Nations Secretary-General António Guterres described tourism as ‘a powerful driver of transformation,’ noting that it builds bridges across cultures and fuels development. He, however, cautioned that its expansion must be managed responsibly to safeguard the very communities it celebrates.

‘Tourism creates jobs, fuels local economies, and strengthens bonds between people and places,’ Guterres said. ‘It builds bridges across cultures, preserves traditions, and restores cultural heritage. Yet tourism can also damage the very places it celebrates. As the world faces climate breakdown and rising inequalities, we need bold, sustainable action that puts people and the planet first.’

He urged countries to harness tourism as a force for resilience, sustainability, and shared progress.

Across the world, governments, operators, and civil society groups marked the day with events promoting inclusive tourism and sustainable development. In Nigeria, activities were held across several cities, including Lagos, Abuja, and Enugu, with the private sector playing a key role in mobilising awareness.

In Lagos, the State Government, through the Ministry of Tourism, Arts and Culture, partnered the Federation of Tourism Associations of Nigeria (FTAN) and other private operators to commemorate the day at Tarkwa Bay. The event brought together professionals, destination managers, and cultural promoters to discuss the future of sustainable tourism in the country.

Speaking on the significance of the celebration, Mr. Uche Wilson Ugwu, Vice President (South East) of FTAN, said the theme aligns with Nigeria’s need to reposition tourism as a development tool. He explained that true transformation begins when the industry is built on sustainability, cultural identity, and local participation.

‘Beyond celebrating the day, stakeholders must commit to practical actions that will make the South East a model for responsible tourism,’ Ugwu said. ‘Infrastructure development, security, and access roads remain critical to unlocking our region’s full potential. Without good roads and reliable utilities, even our best attractions remain hidden.’

He stressed the importance of capacity building and innovation, calling for continuous training of youth entrepreneurs and tour operators.

Ugwu maintained that sustainability depends on knowledge-sharing and the integration of modern technology into tourism promotion.

‘The South East must tell its story differently,’ he added. ‘We have history, cuisine, and craftsmanship that can compete globally. But this requires unity of purpose. Every operator, artisan, and policymaker must see themselves as part of the transformation process.’

Also speaking, Mr. Awomoyi Ayodeji, Principal Executive of Flyzone Tourism, said tourism remains a strategic tool for fostering peace, mutual understanding, and economic development among nations. According to him, sustainable transformation cannot be achieved without deliberate collaboration between governments, local communities, and the private sector.

‘Tourism contributes significantly to peace and development when it promotes cultural exchange, supports local economies, and encourages global citizenship,’ Awomoyi said. He identified inadequate infrastructure, insecurity, inconsistent government policies, and poor funding as some of the biggest challenges facing tourism in Nigeria.

Awomoyi stressed that capacity development and partnership are key. ‘Governments, private sector, and communities must work together to build skills, improve access, and foster partnerships. Only then can tourism reach its full potential as a tool for inclusion and sustainable change,’ he noted.

Governor Ahmadu Fintiri of Adamawa State has described unity as Nigeria’s greatest treasure, urging citizens to see it as a source of strength rather than weakness.

Speaking at Ribadu Square, Yola, during Nigeria’s 65th Independence Day celebration on Wednesday, Fintiri said, ‘Like rivers that flow into one mighty stream, our differences must flow into one shared destiny. A divided Adamawa, like a divided Nigeria, cannot stand.’

He called on Nigerians to renew their commitment to making independence meaningful through visible change.

Highlighting his administration’s achievements in the past six years, Fintiri noted progress in education, healthcare, road infrastructure, and peace-building.

He also disclosed ongoing plans to employ 12,000 youths across ministries, post-primary education, and the health sector.

In the spirit of the celebration, his chief press secretary, Humwashi Wonosikou, announced that the governor had granted pardon to six inmates in Adamawa prisons.

As Nigeria joins the rest of the world to celebrate United Nation’s World Tourism Day 2025 with the theme Tourism and Sustainable Transformation last Saturday, Group General Manager Continental Hotels, Mr. Karl Hala said that the Nigerian hospitality industry has shown remarkable resilience and innovation, despite facing some challenges. Citing World Travel and Tourism Council, he disclosed that travel and tourism contributed over N7 trillion to Nigeria’s GDP last year, accounting for nearly 5 percent of the total economy. The sector, he said, now supports 3.3 million jobs, with youth making up the largest portion of the workforce. ‘Investment in branded hotels has grown steadily, with Nigeria hosting over 9,000 quality rooms in international-standard properties,’ he added.

According to him, Nigeria has everything it takes to be the hospitality and tourism leader of Africa, noting that it has a rich cultural diversity, breathtaking natural assets, a dynamic youthful population, and a diaspora eager to rediscover their roots. He, however, added that Nigeria must build a strong national hospitality and tourism structure to realise this potential.

‘Telling a compelling national story is one step in the right direction. To compete globally, Nigeria needs to project its hospitality brand with clarity and pride. We must curate a narrative that showcases our unique strengths and attractions. At Continental Hotels, we say: Cradle of Humanity. This narrative exists, but it needs to be owned, structured, and broadcast consistently,’ he said.

Encouraged by emerging trends in the industry, Hala described Africa as the world’s fastest-growing tourism region, projected to grow by 5.4 percent annually through 2030.

He noted that though Nigeria’s domestic tourism market alone is a sleeping giant worth billions, digital innovation is reducing costs and expanding reach, and the young people are the secret power behind our industry’s growth.

He emphasized the need to invest in youth and innovation as the future of Nigerian hospitality lies in the hands of the young workforce. He stated that with proper skills, digital empowerment and entrepreneurship support, ‘they will carry us into the future. At Continental Hotels, we have seen the impact of investing in our people. A 23 year-old Nigerian graduate who joined our hotel as a trainee, developed a digital concierge tool that has cut our response time to guest requests by more than half.’

For a sustainable tourism industry, he identified three critical steps stakeholders must take- ‘tell a compelling national story: Nigeria must project its hospitality brand with clarity and pride; build real structures: we need a fully empowered national tourism board-transparent, innovative, and globally competitive; invest in youth and innovation: The future of Nigerian hospitality is not just in marble lobbies or tall buildings, but in the hands of our young workforce.’

While recalling part of Nigeria’s success stories in tourism industry, Hala said: ‘At Continental Hotels, we have lived this story firsthand. When we embarked on our mega expansion, many doubted our vision. But, we believed in Nigeria’s potential and invested in building a world-class hotel that would showcase the country’s hospitality. Today, our flagship property is a multi-award-winning hotel, employing hundreds and serving thousands. It has become a symbol of what is possible when vision, structure, and courage come together.

‘Our two flagship hotels-Abuja Continental Hotel and Lagos Continental Hotel have continued to be recognised in the hospitality industry. These iconic properties have consistently set the standard for excellence in Nigerian hospitality, and their recent awards are a testament to their unwavering commitment to quality and service.

Osun State Governor, Ademola Adeleke, has called on President Bola Tinubu and other political leaders to respect the rule of law and uphold judicial processes as Nigeria marks its 65th Independence anniversary.

In his Independence Day message, conveyed through his spokesperson, Olawale Rasheed, Adeleke congratulated Nigerians and stressed the need for genuine national reforms that would entrench true federalism.

He described the occasion as a crucial moment to evaluate the health of the nation’s constitutional democracy, the rule of law, and the delivery of good governance.

The governor further urged leaders to safeguard the foundation of national governance by ensuring strict compliance with the constitution and unwavering respect for the rule of law.

He said, ‘We have made progress, but we can move faster and better. We have recorded a lot of progress, but we should continue to protect the foundation of our national existence, the constitution and its interpretation by a truly independent judiciary.

‘We must, in totality, ensure compliance with the rule of law, not the rule of thumb. Judicial process must be respected as it is the only legitimate vehicle to regulate relationships among players in the democratic space and among Nigerians at large.’

He described democracy as rule-based, noting that Nigerian democracy will progress faster and good governance will be better delivered when democratic structures are allowed to function without unlawful interference.

‘I felicitate with President Bola Ahmed Tinubu and Nigerians at large. I task the political class to strive towards true federalism. Federating units must be strengthened within the context of more devolution of powers and resources.

‘Nigeria must run truly as a federation where the tiers of government operate with clear regulations as provided by the constitution and moderated by the rule of law. This will fast-track development at all levels of governance.

‘I urge Osun people to remain law-abiding, calm, and peaceful as the state government is deploying democratic tools to advance and protect the interests of the state within the federation and within the context of the rule of law. We must resist the temptation to take the law into our hands.

‘On this occasion of the 65th Independence anniversary, I congratulate Nigerians, at home and abroad. We look forward to more national and subnational improvement as democratic governance progresses’, the governor noted.

The Chief of Special Services and Programmes, Nigerian Army, Major-General Jamal Abdulsalam, has declared that soldiers in Nigeria currently enjoy the best welfare since the establishment of the force.

He credited the development to the commitment of the Chief of Army Staff (CoAS), Lt. Gen. Olufemi Oluyede, who, from the outset of his tenure, placed soldiers’ welfare as his top priority.

Abdulsalam made the remarks in Port Harcourt after inaugurating newly completed blocks of 18 rooms and flats built by the General Officer Commanding (GOC) 6 Division, Maj. Gen. Emmanuel Emekah, as transit accommodation for officers and staff at Bori Camp.

Abdulsalam said, ‘The welfare of soldiers has never been as good as it is now since the creation of the Nigerian Army. Many welfare aspects of the soldiers have been tackled.

‘The ration cash allowance of soldiers has been doubled since the Chief of Army Staff came. Many issues that have to do with soldiers have been handled; their medical and accommodation, including the education of their wards and children. All the things provided for them are excellent, top-notch’.

Abdulsalam, the immediate past GOC of 6 Division, said the transit accommodation codenamed Python Camp was in line with the command’s philosophy of the Chief of Army Staff on staff welfare.

He said, ‘You can see that everything within the complex is meant for soldiers. He has been able to build this edifice that will accommodate nothing less than 40 to 50 soldiers.

‘It is a commendable project and this is what the army is all about everywhere. Everybody wants to emulate what the Chief of Army Staff is doing’.

In his remarks, the GOC 6 Division, Maj. Gen. Emmanuel Emekah lauded the achievements of his predecessor in the division, saying that the project was done in the spirit of continuity.

Addressing Abdulsalam, the GOC said, ‘It is an addition to the laudable achievements recorded under your command, and it reflects the drive to align with the Chief of Army Staff command philosophy as it relates to troops’ welfare, the provision of befitting living and working conditions.

‘The project stands as tangible evidence of continuity, growth, and sheer commitment to the well-being of our personnel.’

He said construction work was also ongoing on a 60-unit block of flats within the Division, adding that the project was designed to address the accommodation deficit faced by officers and to complement the solid foundation his predecessor laid during his tenure.

Emekah said the legacies of Abdulsalam remained enduring and assured him that they would be preserved and improved upon

Pharmacists across Nigeria must urgently embrace technology to remain relevant in a rapidly evolving healthcare landscape, Pharm. John Omale has said.

Speaking at the opening of the 3-day ‘Business Summit 3.0’ organized by the Abuja chapter of the Association of Community Pharmacists of Nigeria (ACPN) on Tuesday, Omale stressed that outdated practices can no longer address today’s challenges.

‘Our practices as professionals must evolve to remain meaningful and effective. We cannot continue doing things the same way and expect different results. Technology must be at the heart of that transformation,’ he said.

Delivering the keynote address on the theme ‘Technology Infusion in Healthcare Practices: The Panacea for the Future of Community Pharmacy’, Omale argued that digital tools are no longer optional, stressing, ‘Technology enables us to solve problems, improve efficiency, and achieve sustainable growth.

‘However, we must also recognize that the market, regulations, and mainstream practices are shifting. To survive and thrive, we must adapt, innovate, and adopt standards that ensure quality and profitability without compromising ethical values.’

He linked sustainability in pharmacy to innovation and problem-solving, not inefficiency, ‘Money flows to solutions. When we solve problems effectively, opportunities and resources naturally follow

‘Stronger reliance on data-driven decision-making, collaboration, and innovation is the only way to go,’ Omale said.

Omale highlighted the growing complexity of modern healthcare, stressing the need for patient-specific care and safety in drug use.

‘Technology can help us manage these complexities, improve patient safety, and deliver higher-quality services,’ he noted.

He warned that the benefits of technology would not materialize without investment in people, emphasizing, ‘We must also prioritize training and continuous learning.

‘The world of healthcare is dynamic, and professionals must stay ahead of developments in science, technology, and regulation. Only then can we build a system where every patient receives appropriate, safe, and effective treatment’.

On the challenges facing the profession, Omale identified outdated practices, resistance to change, inadequate standardization, limited access to digital tools, and gaps in regulatory compliance and ethical delivery.

‘Our collective goal should be to modernize our systems, standardize practices, and ensure ethical service delivery. By embracing change and adopting new tools, we can transform healthcare into a system that is patient-centred and sustainable for the future,’ he noted.

The chairman of ACPN, FCT chapter, Aloba Olatunji, described the summit as a platform to empower members and sustain continuous professional learning.

‘As professionals, we don’t stop learning. This summit is designed to put knowledge back into our members, helping us adapt to what is trending in society. The theme for this year is ‘Technological Infusion into Healthcare Practice,” he said.

He noted that while artificial intelligence is being projected as a disruptor, Africa’s peculiar health realities mean pharmacists remain indispensable.

‘Pharmacists in Africa deal with tropical medicine, which technology cannot fully replace. Our members need to be empowered to integrate technology into their practice,’ he explained.

He said an incentive initiative put in place during the summit was necessary to support members facing difficult business environments.

‘Some of our members are doing well, while others are not. Collectively, many are struggling. Information is power, so we need to constantly pass it across so they can blend with what is happening in society,’ he said.

Olatunji also appealed to Nigerians to be patient with government reforms and always seek professional guidance in drug use.

‘A beautiful diagnosis without the right drug, dose, and duration will not give you a beautiful result,’ he cautioned.

On drug regulation, he assured, ‘No pharmacy manned by a licensed pharmacist will dispense prescription drugs irrationally. Your license is at stake. On fake and substandard drugs, ACPN is working with NAFDAC and NDLEA to ensure they are flushed out of society.’

In his goodwill message, the Chairman of the Board of Pharmacist Fellows for Abuja and Nasarawa commended ACPN for hosting the summit, describing it as ‘a valuable platform to advance pharmacy practice.’

He urged members to ‘remain focused on professional goals despite distractions’ and stressed the importance of unity in pursuing common objectives.

Also delivering goodwill on behalf of the NDLEA FCT Commandant, a representative reaffirmed the agency’s close partnership with pharmacists, calling them the ‘frontline interface with the people.’

He warned of the rising tide of substance abuse and stressed that pharmacists must play an ethical role in preventing misuse.

He commended ACPN for creating a platform to strengthen collaboration, saying the summit was vital in ‘tackling substance abuse and promoting responsible healthcare delivery.’

The empowerment incentives, sponsored by one of the stakeholders, include cars, televisions, refrigerators, and other consolation prizes, while the FCT chapter also packaged inverters for members to power their premises in case of outages.

All Progressives Congress (APC) governorship aspirant in Oyo State, Dr. Adewale Kareem, has congratulated state party chairman, Alhaji Olayide Moshood Abas, on his birthday.

In a message, Kareem (AKK), said Abas is ‘a pillar of progressive ideologies and a rallying point for members.’

He lauded the chairman’s leadership style, noting it has strengthened party unity and expanded APC’s reach in Oyo.

‘Under your guidance, APC in Oyo State has witnessed a huge drive toward attainment and growth, marked by acceptance and influx of dedicated individuals,’ Kareem said.

The governorship hopeful recalled that Abas’ open-door leadership approach facilitated the admission of more members, including his structure, Aseyori Support Group.

Kareem also hailed the chairman’s ability to balance his political responsibilities with his national assignment as chairman of Federal Neuropsychiatric Hospital, Kaduna. He said Abas has demonstrated professionalism and discipline in harmonising both roles.

‘Your ability to harmonise these roles has advanced public health and fortified our party’s strength in Oyo State,’ Kareem added.

He prayed for long life, good health and greater wisdom for the celebrator, wishing him success in his endeavours.

‘Your well-being is a blessing to us, and I look forward to years of your inspiring leadership,’ the statement read.