Abia State Governor, Alex Otti, has said that his administration will only borrow money to run the state when it is absolutely necessary.
The governor made the vow in Umuahia on Wednesday during a lecture series to mark his two years in office.
Otti, while responding to some of the issues raised by the lecturer, Dr Idika Kalu, a one-time Finance Minister, said borrowing was not to be done recklessly, adding that he would only borrow when necessary.
The governor said he had to inculcate financial discipline and responsibility in the system to get the state to a greater level.
He said he had been paying workers and pensioners, having found that it made more economic sense to pay than to keep the money at the bank.
“We shall commit the remaining two years of this term to institutionalising the reforms that have been initiated.
“Collectively, we shall make Abia the hub of transformational ideas; we shall not be tired of listening to new ideas, for that is the path to continuous growth and progress,” Otti stated.
The governor thanked Kalu for accepting the invitation to deliver his administration’s second anniversary lecture.
Otti said the state put the lecture together to “talk to ourselves honestly and evaluate how far we have come, what we have done right, and what we can do better.”
In his lecture, the former Minister of Finance urged the governor to borrow to expand projects that would create value for the state.
The octogenarian maintained that such borrowing was not bad once it was done in the interest of the state.
The lecture was titled, “Two years of transformation; Sustaining the momentum.”
Kalu also urged Otti to use the media in major roles in his development efforts because of its power to cause change.
“The media can help this nation get back to life so don’t give them minor roles but give them key roles,” Kalu said.
Kalu commended Otti for his numerous projects some of which he said he had seen delivered while some are still ongoing.
He urged the government to always abide by the rule of law and to show examples of how things should be done rightly and uprightly.
Kalu harped on the need to punish errant persons who instilled impunity in the society, noting that a society where impunity reigned was not modernised.
The founder and Chief Executive Officer of music streaming giant, Spotify, Daniel Ek, has said that Artificial intelligence will drive more people to create music and should not be seen as a threat to the industry.
Speaking at an Open House event at Spotify’s headquarters in Stockholm, Ek addressed growing concerns surrounding the use of AI in music production.
Some worry that machine-generated tracks — even those attributed to entirely fabricated artists — could eventually sideline human musicians.
“I’m mostly optimistic and mostly very excited because we’re just at the beginning of understanding this future of creativity that we’re entering,” Ek told reporters
Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gift
As the Ileya (Sallah) season approaches, Adron Homes, Nigeria’s leading real estate company, is again giving Nigerians a reason to celebrate beyond the festivities with the launch of its highly anticipated ILEYA/SALLAH PROMO!
This year’s celebration blends culture, community, and homeownership into a once-in-a-lifetime opportunity for families and individuals looking to secure their future through real estate.
With over 40 estate locations nationwide, spanning Lagos, Ogun, Oyo, Osun, Abuja, Nasarawa, Niger, Jos, and Ekiti, Adron Homes is offering a generous 30% discount on all land purchases. Even better, customers can enjoy convenient payment plans spread over 24 months, making land ownership more affordable than ever.
To mark the season of giving, Adron Homes is rolling out exciting gift rewards for customers based on their commitment levels:
• ₦100,000 Payment – 10kg Bag of Rice or Aso Oke or Ankara
• ₦200,000 Payment – 10kg Rice with Aso Oke or 2 Ankara
• ₦500,000 Payment – Goat or 50kg Rice with Aso Oke or 2 Ankara
• ₦1,000,000 Payment – Ram with Aso Oke or 2 Ankara or 50kg Rice + Goat
(Valid for lands worth ₦3M and above)
• ₦3,000,000 Payment – 3 Rams with Aso Oke or 2 Ankara
(Valid for lands worth ₦8M and above)
This campaign is also being celebrated with the support of star brand ambassadors; Lateef Adedimeji, Ibrahim Chatta, and Femi Branch, who embody the spirit of culture, excellence, and family that Adron Homes stands for.
With a proven track record of delivering value and properties in strategic locations, Adron Homes is committed to making the dream of property ownership a reality for every Nigerian regardless of income level.
This Ileya season, the company is inviting all Nigerians to invest not just in land, but in a lifetime of security, prosperity, and generational wealth.
Visit any Adron Homes office nationwide or connect with us through our online platforms:
The House of Representatives on Wednesday called on relevant agencies of the Federal Government to carry out a reintegration plan for Internally Displaced Persons across the country.
The decision of the House was sequel to the adoption of a motion on notice during Wednesday’s plenary, sponsored by the member representing Eleme/Oyigbo/Tai Federal Constituency, Rivers State, Mr Felix Nwaeke.
Speaking on the substance of the motion, the Rivers lawmaker noted that as of April 2024, the internally displaced persons in Nigeria were estimated at 3.3m persons living in over 300 camps across Benue, Kaduna, Kano, Katsina, Kogi, Nasarawa, Niger, Plateau, Sokoto, and Zamfara States.
He said, “The visitations by humanitarian organisations and government agencies to these camps are immersed with calls for improved welfare, feeding, and security of the displaced persons in these over 300 camps.
“There has to be a plan on how to prepare these persons who had been forced out of their homes and subjected to living conditions lower than they are used to psychologically, emotionally, and physically to reintegrate them back to a normal standard of living.
“If the displaced persons, most of whom are women and children, are returned home after relative peace is restored in their communities without a structured reintegration plan that would be providing cash assistance, food and clothing, and psychological and emotional counseling and support; it would amount to insensitivity to their plight and, at most, abandonment.”
Following the adoption of the motion, the House urged the Federal Ministry of Humanitarian Affairs and Poverty Reduction and the National Emergency Management Agency to conduct an assessment of the situation in the IDP camps across the country and draw up a reintegration plan for IDPs.
It also mandated its Committee on Emergency and Disaster Management to ensure compliance.
Chiderije Mbah Wins One Day MD/CEO Of Wema Bank PL
… Set To Run The Bank’s Affairs For 24 Hours In An Unforgettable Children’s Day Experience
In a heartfelt celebration of 2025 Children’s Day, Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has unveiled 12-year-old Chiderije Mbah as its One-Day Managing Director/CEO for May 27, 2025, as part of a special initiative aimed at nurturing the next generation of Nigerian leaders. The memorable experience, which took place today, at the bank’s headquarters in Lagos, Marina, spotlighted Wema Bank’s ongoing commitment to investing in the future even as it marks 80 remarkable years of legacy and impact.
Chiderije Mbah became the winner of the One-Day Wema Bank MD/CEO initiative launched in May 2025, to mark this year’s Children’s Day celebration. He was chosen after sharing a spirited video explaining his dream of leading a bank and his vision for making finance more fun and accessible for children. His entry, submitted through a social media challenge, stood out among dozens who applied to be in the position.
The One-Day Wema Bank MD/CEO was the high point of a broader Children’s Day initiative by Wema Bank, which invited children across the country to participate in an online challenge. To qualify, children were asked to post a short video dressed in Wema colours and share the banking role they aspired to, while either holding or opening a Royal Kiddies Account (for ages 0–12) or an ALAT Xplore Wallet (for teenagers 13–17). The campaign blended fun with purpose, introducing thousands of young Nigerians to early financial education and the power of dreaming big.
On Tuesday, May 27, 2025, Chiderije stepped into the spotlight at Wema Bank’s Lagos Headquarters, receiving a purple-carpet welcome and taking his seat at the helm of the bank for a day packed with leadership, learning, and excitement. Enjoying a full day of activities; from a guided tour of the head office to holding his own executive briefing session in the boardroom, he will also be addressing senior executives of the bank.
“This is the best day of my life,” said Chiderije Mbah. “Wema Bank made me feel important. I am learning so much about being a leader and how banking works. I’ll tell all my friends to open a Wema Bank Royal Kiddies Account so they can also start learning how to save and maybe one day, they can be MD too!”
Speaking on the initiative, Wema Bank’s Managing Director/CEO, Moruf Oseni, said,
“Our 80th anniversary is a time to reflect on where we’ve been and where we’re going, knowing fully well that the future belongs to the young stars like Chiderije. Today’s activity is one of our ways of showing that we believe in the children, that we’re listening, and that we’re committed to helping them succeed financially, personally, and professionally all the way.”
This unforgettable experience reinforces Wema Bank’s vision of a future-ready Nigeria; one where financial inclusion starts early, and every child has access to tools, inspiration, and opportunities to thrive. As Wema bank celebrates eight decades of resilience and innovation, its gaze remains firmly fixed on the horizon, championing the dreams of tomorrow’s leaders, one child at a time.
The European Union and the World Bank are backing the Federal Government of Nigeria as the country scales up its Three Million Technical Talent programme with support in a renewed push to equip young people with digital skills and connect them to global job opportunities.
The 3MTT programme is a flagship initiative of Nigeria’s Federal Ministry of Communications, Innovation and Digital Economy. Its primary goal is to train three million Nigerians in key technical skills by 2027, thereby building a robust digital workforce to power Nigeria’s economy and position the country as a global exporter of tech talent.
The Minister of Communications, Innovation and Digital Economy, Bosun Tijjani, said the 3MTT initiative, billed as the world’s largest talent accelerator, is central to President Bola Tinubu’s vision for human capital development.
“When we came in, he said we must create one million technical jobs,” Tijjani told TVC recently. “That’s why we started the 3MTT programme… Every state I travel to, I meet young participants who are now gaining new skills and access to real opportunities.”
The programme, which began in 2023 with a pilot phase involving one per cent of its target, is now expanding rapidly. “We shifted to 10 per cent last year to learn what’s working,” Tijjani said. “Now we’re going full scale.”
According to the minister, the European Union has committed over €11m to support the programme. The World Bank is also analysing the initiative’s impact as part of a broader effort to scale up youth employment solutions.
Unlike past government-led training schemes, 3MTT has emphasised job placement alongside skills acquisition. Tijjani said partnerships with private companies and international organisations such as the United Nations Development Programme, which pays internship salaries for participants, have helped thousands of beneficiaries gain practical work experience.
He added that the government will soon launch Talent City, a new initiative that will convert public buildings into business process outsourcing hubs capable of hosting global service firms. The move is aimed at tapping into the growing demand for English-speaking talent in the BPO industry, a sector long dominated by countries such as India and the Philippines.
“We’re starting with the Digital Bridge Institute in Lagos and working with state governments to renovate iconic buildings like the Standard Building to house more outsourcing operations,” he said.
Tijjani stressed that the government is taking a data-driven approach. “We’re not just throwing numbers around. This is about people’s lives,” he said.
SHAREHOLDERS COMMEND WEMA BANK AT 2024 ANNUAL GENERAL MEETIN
…Express confidence in stable future following FY 2024 Financial Performance
Reinforcing its position as one of Nigeria’s most profitable financial institutions, Wema Bank, Nigeria’s oldest indigenous bank, most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received a unanimous vote of confidence from its shareholders across Nigeria as it disclosed a record-breaking financial performance at its 2024 Annual General Meeting (AGM). The Wema Bank 2024 AGM held virtually in Lagos on Thursday, May 22, 2025.
According to the Bank’s 2024 Annual Report, Wema Bank, in 2024, recorded an all-time-high performance, with Gross Earnings growing by 91.51% from N225.75 billion in FY 2023 to N432.34 billion in FY 2024; Profit before Tax (PBT) increasing by 135.16% to N102.51 billion in FY 2024 from N43.59 billion in FY 2023, and Profit After Tax (PAT) increasing by 140.13% to N86.29 billion from N35.93 billion reported in FY 2023; Total Deposits rose by 35.65% to N2,523.82 billion in FY 2024 from N 1,860.57 billion in FY 2023 and Total Assets stood at N3,585.05billion in FY 2024, representing a 60.04% increase over the N2,240.06billion recorded in the corresponding year of 2023 and placing the Bank squarely above the One trillion Naira mark, a milestone the Bank surpassed in Q3 2021.
The Bank also grew its loans to customers by 49.94% to close FY 2024 at N1,201.21 billion from the N801.10 billion recorded in 2023. Impressively, the Wema and ALAT brands continue to win public acceptance and market relevance as the Bank continues to record growth in its retail deposit drive. 2024 has proven beyond doubt to be an exceptional for the Bank with earnings growing by 91.51% year on year with earnings per share at 483.2 kobo. Additionally, the Bank’s Non-Performing Loan rate closed at 3.86%, a reduction from FY 2023 position. It is no surprise that the Bank received unanimous commendation from shareholders, with both internal and external stakeholders expressing full confidence in the Bank’s stable outlook and successful financial future.
Among the shareholders who expressed a vote of confidence in Wema Bank were Mr. Matthew Akinlade, who commended the Management for a performance he regarded as “very outstanding”, and Ambassador Doctor Olatunde Okelana, who described the 2024 financial performance of Wema Bank as “historical”, commending Wema Bank’s proactive approach to employee well-being.
Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, also added, “I want to start by commending Wema Bank’s outstanding performance despite the challenging macroeconomic performance. On gender inclusion, I would also like to commend Wema Bank for an impressive gender diversity on the board with 5 out of 11 directors being female, representing a remarkable 38% ratio. Furthermore, I want to seriously commend the succession plan of Wema Bank, and the board for achieving 100% attendance in meetings, which shows a full commitment on their part”.
Anchoring the Wema Bank 2024 AGM, Dr. Oluwayemisi Olorunshola, the Chairman of Wema Bank, expressed the Bank’s gratitude and appreciation to its shareholders, customers, employees, regulators, partners and other stakeholders, for their continued support and contributions to the Bank’s outstanding performance for the year in view, reiterating the Bank’s commitment to sustain the upward surge in its performance in the decades to come.
Alluding to the Bank’s plan for sustaining the gargantuan growth recorded in 2024, Moruf Oseni, the Bank’s MD/CEO, added, “We will continue to deliver best-in-class financial solutions, invest in second-to-none technology, reinforce our internal framework for maximum efficiency and remain fully committed to innovation and service excellence, as we continue to provide optimum returns for every stakeholder of Wema Bank. The N150 billion Rights Issue window ended yesterday May 21st, 2025. However, we have raised a motion to raise another N50 billion through private placement, and with your permission, we will proceed with that, come June 2025”.
“At the end of it all, what we expect is that Wema Bank will have qualifying capital slightly north of N267 billion, which allows us to sustain the resilient and robust franchise that we have built together, to keep Wema Bank thriving as a force to be reckoned with in the industry. Wema Bank stands strong at 80 and in the decades to come, I can assure you that the growth we are experiencing today, is just a tip of the iceberg”, Oseni concluded.
Wema Bank 2024 AGM saw the Bank’s shareholders authorise a number of decisions including the re-election of board members, remuneration of Audit and Board members, and payment of dividends of N1 per share.
From marking the incredible milestone of its 80th anniversary to making significant strides towards meeting the CBN recapitalisation benchmark for 2026 and achieving a record-breaking 2024 financial performance that has sustained an unparalleled growth streak over the past decade, Wema Bank has proven its capacity to remain at the forefront of the African financial industry without compromising on delivering unmatched value to stakeholders.
The Minister of Marine and Blue Economy, Adegboyega Oyetola, has listed roles expected to be played by various stakeholders in the affairs of the country for the current reforms championed by the administration of President Bola Tinubu to achieve desired results.
Oyetola gave the list on Monday, in Ile-Ife, Osun State, at the first International Conference on Public Policy, Governance and Development Agenda organised by the Department of Public Administration, Obafemi Awolowo University, Ile-Ife.
He specifically said that for the reforms to work as envisaged by the policymakers, the government must demonstrate courage, while the public would have to exercise patience as the members of academia provide support for the process with intellectual honesty during transitional hardships for lasting gains to be recorded.
Represented by the Managing Director, National Inland Waterways Authority, Mr Bola Oyebamiji, accompanied by many members of his AMBO political movement, a group in the fold of the All Progressives Congress in Osun State, Oyetola, who served as the chairman of the occasion, commended President Bola Tinubu, for his willingness to engage and re-evaluate public policies for greater results.
“At this point, please permit me to mention that the President and Commander-in-Chief of the Armed Forces, and the Visitor to this great University, His Excellency, President Bola Ahmed Tinubu, GCFR, has demonstrated his willingness to engage and re-evaluate public policies for greater results.
“His trajectory in the last two years has revealed him as an unapologetic reformist who deserves our collective support as a nation. I urge us all to continue to support Mr. President and Commander-in-Chief.
“As we gather to re-evaluate policies, we must confront the unconfrontable reality: that reform requires not just government courage, but citizen patience, and intellectual honesty to endure transitional hardships for lasting gains,” Oyetola said.
He further posited that Tinubu’s Renewed Hope Agenda offers hope of a stronger economy that would enable prosperity for all.
He subsequently urged Nigerians to collectively support the lofty initiatives of the federal government, packaged in policies and programmes that would directly benefit the masses and strengthen the economy for the betterment of all and sundry.
In his remarks, the Chairman, OAU Governing Council, Siyan Oyeweso, emphasised the need for contributions of all Nigerians towards the economic stability of the nation, saying everyone must rise up and support the government’s efforts aimed at rebuilding the nation.
The Federal Inland Revenue Service has condemned the Federal Capital Territory Administration for shutting down one of its offices in Abuja.
The agency described the action as “malicious” and “unprofessional.”
In a statement released via X (formerly Twitter), Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, accused the FCTA of unfairly targeting the agency.
“It is highly unprofessional of the Wike-led FCTA to close our office, disrupting staff from performing their duties when we have done nothing wrong, especially during a crucial week as we prepare to sign the Tax Reform Bills. FCTA, you have erred gravely; FIRS owes you nothing,” Atoyebi asserted.
She further accused the FCTA of attempting to use FIRS as a scapegoat, adding, “If you are looking for a fall guy, look elsewhere. We should not be your scapegoat when you know full well that the falsehoods you spread in the media and your malicious, illegal actions will harm our operations.”
Atoyebi maintained that the agency has no outstanding rent payments to the FCTA for the past 25 years and insisted that all obligations had been settled up to 2023.
“We have the evidence,” she emphasised, pushing back against claims of indebtedness.
According to her, the incident comes at a critical juncture for Nigeria’s tax system, with major reform legislation expected to be finalised soon.
She warned that such disruptions could undermine public confidence and delay the implementation of key fiscal policies.
Analysts caution that escalating tensions between federal agencies may affect service delivery and create institutional instability.
Meanwhile, the National Assembly indicated that it might pass the harmonised Tax Reform Bills by Tuesday, following a successful review of contentious clauses.
James Faleke, Chairman of the House Committee on Finance and leader of the House delegation for the bills’ harmonisation exercise, disclosed this via his official X account on Sunday.
He tweeted, “The Conference Committee set up by the House and the Senate on the Tax Reform Bills has successfully concluded its work. The joint committees thoroughly reviewed all sections, addressed grey areas in the four Bills, examined each clause strategically, and resolved contentious issues.”
Earlier, PUNCH Online reported that the FCTA sealed the FIRS office in Abuja for similar violations alongside an Access Bank branch and a Total petrol station in Zone 6, Wuse, Abuja, over non-payment of ground rent spanning 34 years.
Adron Homes Refutes FIJ’s Misleading Report, Sets Record Straigh
Adron Homes & Properties Ltd. has recently become aware of a serious allegation published by the Foundation for Investigative Journalism (FIJ) on May 22, 2025. The report claims that our company failed to refund a land payment to a client, Mr. Solomon Oludare Akinbo, after he allegedly made full payment for a plot at our Treasure Park and Garden, Phase 2, located in Shimawa, Ogun State.
We would like to express our strong disappointment that FIJ did not take the necessary steps to reach out to us for verification of these claims before making such serious allegations. The report contains significant misrepresentations that we categorically reject as malicious, defamatory, and misleading. It is imperative that we clarify the facts not only for the benefit of the public but also for our esteemed clients who trust us.
First and foremost, Adron Homes has at no point denied Mr. Akinbo his rightful plot allocation or refused his request for a refund. In fact, land was provisionally allocated to him, aligning with his initial expressed intent to construct a building on the plot. Our allocation policy, which is explicitly detailed in the Contract of Sale that Mr. Akinbo signed, stipulates that clients must formally indicate their readiness to build through a written notice before the allocation is finalized. This policy is designed to facilitate a well-planned development process and to prevent the occurrence of undeveloped or abandoned plots across our estates.
Additionally, it is crucial to point out that Mr. Akinbo voluntarily requested that Adron Homes manage the construction of his building project. Following his request, he selected a design for his building, and we prepared a detailed Bill of Quantities (BOQ) for his review. At no point were either Mr. Akinbo or his legal representative coerced into accepting this proposal, as they have inaccurately claimed. We uphold a policy of allowing all our clients the freedom to engage any registered builder or construction engineer of their choice.
The allegations that Adron Homes solicited additional payments from Mr. Akinbo are entirely unfounded. Such statements are simply untrue and reflect a blatant intent to defame our company. We encourage the public to disregard these inaccurate claims in their entirety.
Concerning the matter of the refund request, it is important to highlight that Adron Homes has a transparent refund policy explicitly outlined in the same contract signed by Mr. Akinbo. This policy requires him to submit a written refund request. Upon receipt of such a request, Adron Homes will provide a Refund Form for him to complete, sign, and return. Moreover, Mr. Akinbo is expected to return all contractual documents currently in his possession before we can proceed with the closure of his account and the issuance of his refund cheque. Regrettably, despite multiple official communications reminding him of these requirements, both he and his legal representative have not complied.
It is particularly disheartening that FIJ chose to publish the report without giving space for Adron Homes to present its side of the story. Despite their claim of prior outreach, the publication did not reflect our official position nor did it verify the facts before going to press. This one-sided approach contradicts the principles of ethical journalism and has resulted in the propagation of false and damaging narratives about our company and its reputation.
In light of these developments, we formally demand the immediate removal of the misleading article from all FIJ platforms. We also request a formal retraction along with a written public apology. Additionally, we seek the publication of a follow-up article that accurately presents our perspective and rectifies the misinformation that has been circulated.
Adron Homes & Properties Ltd. remains steadfast in its commitment to transparency, professionalism, and upholding the highest standards of service for all our clients. We will continue to work diligently to protect our reputation and to serve our clients with integrity and trust.
For further media enquiries or clarification, please contact clientservice@adronhomesproperties.com or publicrelations@adronhomesproperties.com
