Senior members of the Muhammadu Buhari presidency, infamously referred to as the Cabal, have reportedly sold the candidature of Senate President Ahmad Lawan to the president.
This coming a few days to the presidential primary of the All Progressives Congress (APC).
It was gathered President Buhari is expected to present Lawan to the critical stakeholders of the party as his preferred candidate for the party’s ticket.
According to multiple sources, the Aso Villa Cabal has secured the buy-in of the president for Lawan.
One of the sources, a former governor, told Daily Trust that: “Buhari’s nephew, Malam Mamman Daura, a former director-general of the Department of State Services (DSS), Lawal Daura, and the national chairman of the party, Senator Abdullahi Adamu, have succeeded in ramming Lawan down the throat of the president.”
However, the former governor warned that forcing Ahmad Lawan on the party would lead to disaster and implosion.
“Atiku Abubakar will be declared the president-elect by noon on the election day,” he said.
Kashim Shettima, a former governor of Borno State, on Friday evening said Vice-President Prof. Yemi Osinbajo, who is aspiring for the presidency in 2023, “should be selling ice-cream” because he is “a good and nice man”.
He said this while featuring on a programme on Channels TV, monitored by POLITICS NIGERIA.
“Osinbajo is a good and nice man, but nice men don’t make good leaders. Nice men should be selling ice cream,” Shettima, a supporter of Bola Tinubu, National Leader of the All Progressives Congress (APC), said.
Backing his candidate’s boasts about him helping Muhammadu Buhari to be president in 2015, Shettima said nobody can dispute Tinubu’s claims.
“He played a very crucial role in the ascendancy of President Buhari. I was a founding member of the APC; I can confirm this.”
The Special Convention that’ll produce the presidential flagbearer of the APC is scheduled for June 6-8.
After many years of her crashed union with her husband cum manager Teebillz, Nigerian sensational singer Tiwa Savage has revealed the kind of man she’s looking forward to date.
Tiwa Savage while performing during a recent music concert said she’s not looking for a man that has money.
In the video shared on her Instagram story, Tiwa Savage said she feels less impressed with any man that wants to spend money on her because she has her own money too.
Speaking further, Tiwa Savage said she can walk away from any unpleasant situation by jumping into her car because of the money she possesses.
She added that any man coming for a relationship with her must match with her own energy.
In her words: “I was telling my stylist, not like I’m just for looking any guy that has money because I‘ve the money, too. For real If do anyhow, I will get into my landrover and move, all I’m saying is we gat to match our energy. You got to match my energy. So from now we are looking for someone that will add to our fun”
Former Secretary to the Government of the Federation, Babachir David Lawal has described as ‘bulshit’, the statement credited to a presidential aspirant and national leader of the All Progressives Congress, Asiwaju Bola Tinubu.
Tinubu while addressing the Ogun State APC delegates at the Presidential Lodge, Abeokuta, Thursday stated that he brought President Muhammdu Buhari out of political retirement and assisted him to emerge Nigeria’s President in 2015.
His words: “If not me that led the war front, Buhari would not have emerged. He contested first, second and third times, but lost. He even said on television that he would not contest again.
“But I went to his home in Katsina, I told him you would contest and win, but ‘you would not joke with Yoruba matters.
“Since he has emerged, I have not been appointed minister. I didn’t get a contract.
“This time, it’s the Yoruba’s turn and in Yorubaland, it’s my tenure.”
Reacting to his statement, Lawan argued that Tinubu was not the only person that made the difference, saying there were many others who supported Buhari and never bragged about it.
Disclosing this in a statement made known to Vanguard, Lawan said: “Sometimes it is very difficult to support a Yoruba person in national politics if you are not one.
“They have a way of making you regret your support because they eventually make you seem like a traitor to your own people. Now all these comments about Bola’s Yoruba presidency and his support of Buhari without which Buhari would not have been president is bulshit.
“He wasn’t the only one whose support made a difference. There were many others from all around the country and they are not bragging about it.
“You may wish to know that all of us Buhari supporters are shocked and pissed off by Bola’s speech on this occasion. It is unlike him.
“And this speech is massively trending in the North and being given a negative connotation as you can well imagine. I first read it this morning on an Adamawa group platform and the anger is palpable and all round.
Will Tinubu win Monday’s APC primaries without Northern support?
“You would think Yorubas will resist the temptation of joining in the northerners-bashing game at this very critical time – the primary election is only three days away. It is unfortunate that Bola himself chose to join in this bashing game – choosing to speak in the Yoruba language and in Yoruba land in a manner that seems to denigrate Buhari. I could vividly imagine the discomfort of all the northerners sitting beside him on that podium.
“This appears to be the Abiola saga being replayed. Abiola won the election with majority Northern votes but they took the brunt of the post-election protests that followed.
“Just survey all the people that are doing more meaningful practical things to enthroned Bola as president and you will find that almost all are northerners while his kinsmen engage themselves social media activism and Northern bashing.
“When Yorubas vilify the North like this, our sense of fear and insecurity under a Yoruba presidency gets heightened and in the end, pushes us to rethink our support for not only Bola but any Yoruba as president for that matter.
“Please, do not join our opponents to destroy our chances of clinching Monday’s primary elections.”
The Federal Capital Territory High Court, Wuse, has remanded Peter Nwachukwu, husband of the late gospel singer, Osinachi, in the Kuje Correctional Facility pending the hearing and determination of the homicide related suit instituted against him by the Attorney General of the Federation.
Justice N.K. Nwosu-Iheme gave the order on Friday after he pleaded not guilty to 23 count charges bordering on domestic violence and homicide, among others.
She ordered that the suspect be remanded at the correctional facility while trial was adjourned to June 16 from 12pm and June 17 by 9am.
“The business for today is for arraignment, accelerated hearing is hereby ordered” declared Justice Nwosu-Iheme.
“Defendant should be remanded in Kuje Correctional Facility pending the hearing and determination of this suit,” she ruled.
Nwachukwu’s wife died on April 8 and many of her colleagues had accused her husband of subjecting the deceased to domestic violence, leading to her death.
Afterwards, the Nigeria Police arrested him and he has been in detention since.
FG claims that he contravened Sections 104 and 379 of the Administration of Criminal Justice Act, 2015, section 221 of the Penal Code and the Violence Against Person’s Prohibition Act (VAPP) 2015.
Some of the counts (like culpable homicide) recommends death penalty, 1-year jail term or fine (VAPP Act), among others.
Part of the charges read: “That you Peter Nwachukwu, 56, male, on the 8th of April, 2022 at Aco Estate, opposite police station, Lugbe, Abuja, FCT, within the jurisdiction of this honourable court, did commit an offence to with: culpable homicide punishable with death in that you caused the death of Mrs Osinachi Nwachukwu by your various acts of violence and aggravated assault with the knowledge that her death would be the probable consequence of your acts.”
“Statement of offence: Emotional, verbal and psychological abuse contrary to section 14(1) of the Violence Against Persons (Prohibition) Act, 2015 and punishable under the same section of the Act.
“Particular of offence: That you, Peter Nwachukwu, male, sometime between 14th November 2009 and April 2022 at Aco Estate, opposite police station, Lugbe, Abuja, FCT, within the jurisdiction of this honourable court, did commit an offence to wit: emotional, verbal and psychological abuse on Mrs Osinachi Nwachukwu (deceased) by humiliating her and making utterances like ‘you are smelling,’ ‘you are mad,’ to her in the presence of her music crew members.”
Wema Bank emerges most profitable in PAT growth in Q1 2022
The Nigerian banking sector recorded impressive growth in the first quarter of the year, recording a 23.24% year-on-year increase in real GDP. This is also evidenced by the performance of the twelve commercial banks listed on the Nigerian Exchange (NGX).
Wema Bank proved its mettle in the key metrics of total assets growth, customer deposit growth, profit after tax growth, loan book growth, return on average equity and cost to income ratio.
According to a special report on the financial performance of quoted Nigerian banks by Nairametrics, some banks have dominated the efficiency, deposit, and profitability metrics, especially newly re-engineered banks like Wema Bank and Unity Bank, among others. They are now two of the top five leading banks in the country.
According to data from Nairalytics – the research arm of Nairametrics, the twelve banks reviewed posted an aggregate profit after tax of N275.27 billion in Q1 2022, representing a 14.7% increase compared to N239.95 billion posted in the corresponding period of 2021.
The banks were able to record an improved bottom line despite the CBN monetary policy leaning towards a dovish direction, that is, keeping interest rates low. However, the apex bank in its latest MPC meeting has raised the benchmark interest rate from 11.5% to 13%, and banks could be seeing a rise in their interest earnings going forward.
For this analysis, the Q1 2022 results of the following banks were tracked: Access Holdings, FBN Holdings, FCMB, Fidelity Bank, Wema Bank GT Holding, Stanbic IBTC, Sterling Bank, Union Bank, UBA, Unity Bank, and Zenith Bank. Ecobank was not considered in the analysis as the bank operates efficiently in other markets besides Nigeria.
The key metrics considered in these analyses are total asset growth, loan book growth, profit growth, cost–to–income ratio, and return on average equity.
Leading Banks by Profits After Tax (PAT) growth
The twelve banks under our radar posted an aggregate profit after tax of N275.27 billion in Q1 2022, which is 14.7% higher than the N239.95 billion recorded in the previous year (Q1 2021).
First position – Wema Bank (+119%)
Second position – First Bank (+108%)
Third position – Sterling Bank (+47.9%)
Fourth position – FCMB (+44.6%)
Fifth Position – FBNH: (+33.9%)
Upshots: In terms of net profit, Zenith Bank recorded the highest profit after tax of N58.19 billion. In terms of growth, Wema Bank topped the list with a 119% growth in its bottom line while First Bank recorded a 107.7% growth.
Leading Banks by cost-to-income ratio performance
The cost-to-income ratio is a key financial metric, which shows a company’s costs as a proportion of its income. It helps to give investors a clear view of how efficiently a bank is being run. Specifically, it shows how much input the bank requires to generate N1 of output.
Notably, the lower this ratio, the more profitable, productive, and competitive the bank will be. Here are the banks with the lowest cost-to-income ratio:
First position – First Bank (-12.48%)
Second position – FCMB (-6.83%)
Third position – Wema Bank (-5.5%)
Fourth position – Stanbic IBTC (-5.4%)
Fifth Position – Sterling Bank (-2.1%)
Upshots: First Bank recorded the highest decline in its cost-to-income ratio in Q1 2022, dropping from 79.5% recorded in Q1 2021 to 67.03% in the review period. FCMB also saw a decline in its numbers to 72.69%. However, GT Bank currently has the lowest cost-to-income ratio of 42.42% in Q1 2022.
Leading Banks by Total Assets growth
The analysis of the combined assets of the 13 listed banks (Ecobank excluded) reveals that the total assets increased by 6.7% from N57.67 trillion recorded as of December 2021 to N61.54 trillion in the review period. The total asset of the listed banks amounts to over 85% of Nigeria’s annual real GDP (2021 estimate).
The increase in the total assets of the banks indicates a stronger financial position. All the banks under study recorded an improvement in their total asset base. Below are the leading banks by total assets growth between March 2022 and December 2021.
First position – Fidelity Bank (+22.9%)
Second position – Zenith Bank (+18.9%)
Third position – Stanbic IBTC (+13%)
Fourth position – Unity Bank (+9.7%)
Fifth Position – Wema Bank (+7.7%)
Upshots: Fidelity Bank tops the list of best performers in terms of asset growth in the first quarter of 2022 after its total assets increased by 22.9% from N2.89 trillion recorded as of December 2021 to N3.56 trillion by the end of March 2022.
Leading Banks by Customer Deposits growth
Customer deposits remain one of the most competitive items in the banking sector since it is from deposits that loans are issued out and other investments are made.
The total customer deposits stood at N40.34 trillion, as of the first quarter of the year, representing an 8.7% increase compared to N37.1 trillion recorded as of the previous quarter. The bank leading the charge in terms of value is Access Bank, which accounts for 18.5% of the total share, however, Zenith Bank tops in terms of growth.
First position – Zenith Bank (+27.8%)
Second position – Fidelity Bank (+18%)
Third position – Unity Bank (+17.4%)
Fourth position – Wema Bank (+8.8%)
Fifth Position – Access Bank (+7.8%)
Upshots: Zenith Bank recorded the highest growth in customer deposits, followed by Fidelity and Unity Bank with 18% and 17.4% increases respectively. Only Union Bank recorded a customer deposit decline in the first quarter of 2022.
Leading Banks by loan book growth
Bank loan is an important metric used in assessing the performance of banks. Notably, loans allow for growth in the overall money supply in an economy and open up competition by lending to new businesses.
The interest and fees from the loans form a major part of where banks generate their earnings. According to the analysis, loans to customers increased by 8.3% to N21.71 trillion in Q1 2022 from N20.05 trillion recorded as of December 2021.
First position – Fidelity Bank (+28%)
Second position – Zenith Bank (+25%)
Third position – Unit Bank (+11.9%)
Fourth position – UBA (+7.1%)
Fifth Position – Stanbic IBTC (+6.4%)
Upshots: Fidelity Bank led the list of banks with the highest loan book growth in the first quarter of 2022. Specifically, its customer loan increased by 28% to N1.83 trillion from N1.43 trillion recorded as of December 2021.
Leading Banks by Return on Equity (ROAE)
The return on equity is an important metric that shows the percentage of profit made on every N1 of the shareholders’ fund. It is used to measure the performance and efficiency of the banks.
This metric will show how well banks have maximized any increase in shareholders’ wealth.
First position – Access Bank (21.39%)
Second position – UBA (20.4%)
Third position – GT Bank (19.3%)
Fourth position – Zenith Bank (19.2%)
Fifth Position – Wema Bank (15.96%)
Upshots: The aggregate returns on equity for the twelve banks stood at 13.72% as of March 2022. Access Bank led the list with a return on average equity of 21.39% (annualized) in March 2022, closely followed by UBA (20.4%) and GT Bank (19.3%).
Final Scorecard
Taking the average of the performance of the banks across the six metrics under our radar, we see Zenith Bank on top of the rank, followed by Wema Bank, Stanbic IBTC, First Bank, and Fidelity Bank based on their Q1 2022 numbers.
Buratai To Speak At ABU Symposium On National Politics And Insecurity
Nigeria’s Ambassador to Benin Republic, Amb. Lt. Gen. Tukur Yusuf Buratai (Rtd), would deliver a lecture at the Ahmadu Bello University, Zaria, Kaduna on Saturday, June 11.
National Association of Online Security Reporters, NAOSRE reports that the lecture would take place at a day symposium on national security organised by the centre for research and historical documentation, Ahmadu Bello University with the theme: “Politics And Insecurity In Nigeria: Way Forward”.
Buratai, former Chief of Army Staff, would speak on issues bordering on Nigeria’s politics and insecurity. The discourse would proffer solutions to challenges bedeviling Nigeria at large, as well as empower students to generate ideas for equitable development in the political sector.
Expected guests are His Excellency Mallam Nasiru El Rufai, the executive governor of Kaduna stare, His Excellency Prof. Babagana Zulum, the executive governor of Borno state, His Eminence Alhaji Sa’ad Abubakar III, the Sultan of Sokoto and other notable Nigerians.
A leading presidential aspirant of the All Progressives Congress (APC) and Governor of Ekiti state, Dr. Kayode Fayemi, has debunked insinuations in some quarters that he may be asked to step down for a particular aspirant.
The governor said he is favourably positioned and have backing of the real stakeholders in the party ahead of the presidential primary election to clinch the APC ticket.
An online media had reported that governor Fayemi and other four governors held a meeting behind a closed door with Vice President Yemi Osinbajo, suggesting that the former was been pressured to abandon his presidential ambition.
But in a statement released Friday in Abuja, signed by Head of Media and spokesman of Dr. Kayode Fayemi Presidential Campaign Organisation, Femi Ige, described such rumour as “absolute rubbish. No meeting took place between us and any aspirant about stepping down.
“We are undoubtedly among the leading aspirants for the position and one to watch in the race. Our candidate has deep trust and respect among political leaders in the party and also from colleague Governors who form a critical mass in the decision making process.”
The statement asked Fayemi’s supporters to remain calm, focus and not losing faith because of the lies fabricated by political detractors, saying no amount of late night demarketing will work against the Kayode Fayemi Presidential project
A 39-year-old man, Niyi Adeyemo, has cried out after his wife, Jumoke Bamgbola, 38, beat him to a pulp during a disagreement at their residence in Ikosi-Ketu area of Lagos State.
Adeyemo, who is currently receiving treatment in a hospital bed, disclosed that the trouble in his marriage started after his aged mother came to visit him and she objected saying she don’t want relatives around.
According to reports, the alleged assault had happened on Monday, May 30.
He claimed that his wife’s demand for a divorce became intense when she returned from Dubai, United Arab Emirates, in January 2022.
He said, “Bamgbola stormed my house on May 30, 2022, around 11 am, and asked me why I had not been picking her lawyer’s phone calls.
“After I refused to respond, she said that I must talk to her because she came prepared for me.
“I tried walking away, but my wife dragged me back, and tore my native attire specially sewn for my late mum’s burial, and became violent.
“She started throwing punches at me all over my body, especially on my legs because she is aware of my health condition.
“She tossed me around the house, and kept saying that she would make sure I was admitted to a hospital.
“She also dragged my private parts and bit my hands as I tried to prevent her from biting my manhood.
“I deliberately stopped myself from hitting my wife like I was advised.
“I called her dad afterwards, and put the phone on speaker, her dad called out her name during the conversation, but she refused to respond or listen to him.
“My wife’s demand for a divorce became intense when she arrived from Dubai early this year.
“While she was in Dubai, we resolved our differences through video calls.
“However, she suddenly changed and began comparing me with another man she met over there.
“My wife came back in January 2022 and requested to lodge at a hotel in the Lekki area of Lagos so as to self isolate because of Covid-19 to avoid virus infection on our son.
“Apparently, she came back to Nigeria with a boyfriend with whom she had arranged to spend the night in the hotel.
“I called her several times, but she refused to receive my calls.
“She once called me, and said that our child is the only bond between us.
“She later threatened to kill me with her bare hands if I didn’t give her a divorce because her boyfriend said that he could not marry someone who was married with a child.
“The matter has been reported at the Ketu police station,” he added.
In response, Bamgbola stated that she filed for a divorce and her husband was served, but he refused to honour the court invite, The Punch reports.
She said, “I called my husband after a visit to see the lawyer, and he complained that my husband had not been picking up his calls or from my mum as well.
“He kept pleading with me that he did not want a divorce.
“He admitted that he allowed a third party in our marriage, and apologized.
“Afterwards, the lawyer told me that I had to see my husband, and make him understand what I wanted because of our only child.
“So, I went to his place, and met another lady with him in the kitchen.
“I asked him why he refused to pick the lawyer’s calls, and why he was telling people that he gave me N1.5m to rent an apartment, but he denied it.
“I actually visited to inform him that the court had fixed June 28, 2022, for our divorce case, and discuss the matter with him if we could settle the dispute amicably.
“He usually beat me, but I always tried not to hit him back because he is a sickle cell patient.
“Apparently, it resulted in an argument, as I was also admitted to a hospital at the Ijoko area because I had a swollen face and bruises all over my body and could hardly talk.
“I was invited to Ketu police station on Tuesday, May 31, about how my husband had filed a case of assault against me.
“I denied the allegation, and told the police operatives that I would visit the station as soon as I get better,” she added.
The state police public relations officer, Benjamin Hundeyin, confirmed the incident, however, he is yet to say anything concerning the case.
There are indications that Governor Nyesom Wike of Rivers State and former Ekiti Governor, Ayo Fayose may work against the Peoples Democratic Party (PDP) if Bola Tinubu emerges the presidential candidate of the All Progressives Congress (APC).
According to sources, Wike and Fayose strong relationship with Tinubu may see them support the former Lagos governor.
The source who spoke to Vanguard revealed why President Muhammadu Buhari refused to announce his successor when he met with APC governors.
He also dismissed insinuations that Buhari was looking to the North to pick his successor.
The source said: “It is true that President Buhari has a candidate but persons working around him who believe strongly that a Tinubu presidency will be too strong for them to handle, are the ones moving around to see how to edge out Tinubu.
“The Tuesday meeting was originally planned by Buhari to tell the governors to endorse his candidate. Invariably, Buhari did not have the guts to drop the name of the person. It was a meeting where they were to really brainstorm and possibly look at all the aspirants on their merit and then, take a decision. Instead, the president brought out a speech and started reading.
“That tells you that Buhari is not convinced about the person they are pushing to him. As an individual, I know Buhari has his reservations about Tinubu but he has tremendous respect for Baba Bisi Akande and even if he wants to deal with Tinubu, he (Buhari) cannot because of Baba Akande.
“As recent as two weeks ago, some prominent Nigerians, including those from the South-West had a one-on-one with Buhari and he told them that he had no problem with Tinubu. There are some persons around the president who are not comfortable with Tinubu but if they go ahead with the primary, Tinubu will carry the day and that is why members of the cabal are trying to see if they can micro-manage the situation and ensure they don’t go into an election.
“If APC makes the mistake of abandoning Tinubu, Atiku will win the 2023 election hands down. It is only a Tinubu candidate that Ayo Fayose, a Wike, will work for and some other prominent persons in the PDP.”
On if the President was looking in the direction of the North to pick his successor, the source said: “That is not true. Who is the prominent Northerner in the race? Is it Ahmad Lawan? Ahmad Lawan cannot win Yobe State and they know that.
“If you are a cabinet member and the form has not closed and you meet Buhari today that you want to run, he will wish you good luck. That is what all of them are carrying about to say that Buhari is supporting them.
Tinubu’s aspiration has been on for three years ago and this is to tell you when the project started. It is not something that started today; it was not an afterthought.
“That is why when some Buhari people got to know that Tanko Al-Makura, who was aspiring to be APC National Chairman, was close to Tinubu, they quickly moved against him. Abdullahi Adamu was not a serious contender for the APC chairmanship and unfortunately for them too, Adamu cannot carry out the things they asked him to do because before the NWC was put together, El-Rufai was not with Tinubu.
“As it is now, el-Rufai’s people in the NWC are giving Abdullahi Adamu tough times.
The Deputy National Chairman (North) was produced by Kashim Shettima, we have the National Secretary. The Deputy National Chairman (South), though from the Buhari camp, has some allegiance with Tinubu. So, Abdullahi Adamu cannot push any anti-Tinubu case. That is the challenge they are facing.”
