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First Bank reacts to Otedola’s alleged takeover

 

FBN Holdings Plc has said that it is not aware of billionaire, Femi Otedola’s widely-reported share acquisitions.

Reports emerged on Friday that an entity owned by Otedola is behind a massive mop-up of the shares of FBN Holding, one of Nigeria’s tier one banks. The reports claim Otedola is now the majority shareholder of the bank “with an announcement imminent in the coming days”.

But now, the holding company for First Bank of Nigeria Limited, in a statement signed by its Company Secretary, Seyi Kosoko, and filed with the Nigerian Exchange Limited on Friday, said it had not received any notification of such acquisitions.

It said, “The attention of FBN Holdings Plc has been drawn to media reports today (Friday) that a certain individual has acquired significant shareholding interest in FBN Holdings Plc.

“As a listed company, the shares of FBN Holdings are publicly traded, and sale and acquisition of shares is expected in the normal course of business. We operate in a regulated environment, which requires notification of significant shareholding by shareholders to the company, where shares are held in different vehicles, further to which the company will notify the regulators and the public as appropriate.

“The company is yet to receive any notification from the individual mentioned in the media report, of such acquisitions.”

Otedola is a former chairman of Forte Oil PLC, an importer of fuel products. He is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation.

 

Nnamdi Kanu ordered looting of Oba’s Palace, burning of Uzodinma’s house – FG

 

The Federal Government of Nigeria has accused that leader of the Indigenous People of Biafra, IPOB, Nnamdi Kanu of ordering the burning of a house belonging to Imo state governor, Hope Uzodinma and instigating the looting of the Oba of Lagos Palace during the #EndSARS protests.

This was contained in a statement on Friday by the Attorney-General of the Federation, Abubakar Malami. The government claims that Kanu hijacked the #EndSARS protests and used inciting statements to compel members of his group, IPOB to attack security agents and destroy public property.

The statement, sent to POLITICS NIGERIA, read in part; “The destructive activities of IPOB/ESN pose serious threat to Nigeria’s National Security and its corporate existence, which resulted into re-arrest of Nnamdi Kanu and members of his group.”

“The eventual re-arrest of Nnamdi Kanu in June 2021, and some members of his group led to the inauguration of a Presidential Ad-hoc Committee, comprising twenty-four (24) members drawn from:
1. Federal Ministry of Justice (MoJ),
2. Federal Ministry of Information (MoI),
3. Nigeria Police Force (NPF),
4. Department of State Services (DSS),
5. National Intelligence Agency (NIA), and
6. Defence Intelligence Agency (DIA),

“The Committee, inaugurated by the President, and Commander in Chief of the Armed Forces, Federal Republic of Nigeria, Muhammadu Buhari (GCFR), was headed by the Honorable Attorney General of the Federation and Minister of Justice.”

“The Committee finds as a fact, that consequent upon the instigating directives of Nnamdi Kanu, members of IPOB/ESN carried out massive attacks on democratic institutions especially INEC Facilities with a view to hampering democratic process in Nigeria. These attacks that were carried out between October 2020 and June 2021 include the following:

“That the Headquarters of the Nigerian Immigration Service (NIS), Umuahia, Abia State was also attacked by IPOB/ESN leading to the death of one (1) officer;”

“That there were several IPOB/ESN attacks and destruction (arson) of public and private properties during the EndSARS and Biafra agitations across the country, especially in the South-East and South-South regions, notably the Palace of the Oba of Lagos where twelve (12) flats were completely looted and vandalized, the country home of the Governor of Imo State, Senator Hope Uzodinma, was burnt, over one hundred and fifty (150) buses burnt at the Lagos Bus Terminal, Sen. Ndoma Egba’s home in Calabar Municipal, Cross River State, was completely looted and vandalized, Lagos State DNA and Forensic Centre, City Hall Race Course, First Bank Branch Lagos, Lagos State Public Works Commission, Nigeria Port Authority (NPA), Marina, Lagos, High Court Igbosere, Lagos, were all burnt, amongst other heinous crimes committed.”

Source: Politics Nigeria

BREAKING: How Igboho Received N127m, Disbursed Millions To Suspected Boko Haram

 

The Attorney General of the Federation and Minister of Justice Abubakar Malami, SAN, has accused Yoruba nation agitator, Sunday Igboho, of transferring millions of naira to a suspected terrorist financier.

Speaking at a press conference on Friday, Malami alleged that Igboho received huge funding from unnamed sources to destabilize the country.

Citing a Federal Government investigative report, the AGF said Igboho, through his registered company, Adesun International Concept Limited, received financial inflows in millions and gave out millions to “Abbal Bako & Sons and its promoter Abdullahi Umar Usman”, who according him are indicted for terrorism financing.

“The major financier of the fugitive and separatists was found to be a Federal Law Maker in the National Assembly. A total sum of ONE HUNDRED AND TWENTY-SEVEN MILLION, ONE AND FORTY-FIVE THOUSAND NAIRA ONLY (N127, 145,000.00) wasreceived by Igboho from his financiers between 22nd October, 2013 and 28th September, 2020 through Adesun International Concept Ltd accounts.

“A total sum of TWO HUNDRED AND SEVENTY-THREE MILLION, ONE HUNDRED AND NINETY-EIGHT THOUSAND, TWO HUNDRED NAIRA ONLY (N273,198,200.00) transaction outflows was recorded from Sunday Igboho’s account between 15th March, 2013 and 11 the March, 2021.

“Investigation reveals that Adesun International Concept Ltd (belonging to Igboho) transferred the sum of twelve million seven hundred and fifty thousand naira (N12, 750,000) to Abbal Bako & Sons.

“It might be recalled that Abbal Bako & Sons and its promoter Abdullahi Umar Usman are suspects in the on-going Joint Terrorist Financing Investigation. Abdullahi Umar Usman is by way of financial transaction connected to SURAJO ABUBAKAR MUHAMMAD (who was sentenced to life imprisonment in UAE on charges of financing terrorism [Boko Haram]).

‘This report shows the nexus between separatists’ agitation, terrorism financing and disruptions of peace in the country.

“The report found connections of financial transaction between Adesun International Concept Ltd (belonging to Igboho) and some construction companies and businesses among others,” he said.

Igboho is in Benin Republic where he is facing extradition proceedings.

His lawyers had denied any wrong doing prior and after the invasion of Igboho’s residence in June by operatives of the Department of State Services.

 

Femi Otedola Reportedly Takes Over First Bank With ₦30bn

 

Nigerian billionaire businessman and investor, Femi Otedola, on Friday, reportedly took over First Bank of Nigeria Plc.
According to The Street Journal, Otedola took over the bank with the acquisition of about ₦30 billion worth of shares, making him the single largest shareholder of the bank.

Otedola, being the largest shareholder, holds the highest voting shares, giving him power to dictate the direction of the bank through his voting power.

Recall that Femi Otedola had in 2019 divested his 75% direct and indirect share holding in Forte Oil, via a merger of his company Zenon Oil and former African Petroleum.

This act made many wondered why he made such a decision especially because of the lucrative nature of the oil and gas sector.

The billionaire had expressed interest in going into refining and petrochemicals as well as investing in the real estate and financial sector.

It was gathered that Otedola decided to take over First Bank Nigeria because of the internal crisis rocking the bank.

Recall that the leadership crisis rocking the bank led to the Central Bank of Nigeria sacking both the chairman of the bank, Ibukun Awosika and Obafemi Otudeko, the chairman of FBN Holdings.

‘Mission Impossible’ Actor Alec Baldwin Accidentally Kills Crew Member On Movie Set

 

American actor, Alec Baldwin, has accidentally killed a film crew member and injured another after firing a prop gun on the set of the movie “Rust”.

According to CNN, the Santa Fe County Sheriff’s office has released a statement saying the victim, a director of photography, Halyna Hutchins, 42, was transported to the hospital via helicopter and pronounced dead by medical personnel at University of New Mexico Hospital.

The movie’s director, Joel Souza, 48, was transported to Christus St. Vincent’s Regional Medical Center by ambulance for care. Details on his condition were not released.

“According to investigators it appears that the scene being filmed involved the use of a prop firearm when it was discharged. Detectives are investigating how and what type of projectile was discharged,” the statement read.

The law enforcement agency said the investigation remains open and active and no charges have been filed.

“Rust” is a Western film set in the 1880s that stars Baldwin, Travis Fimmel and Jensen Ackles.

Alec Baldwin is known for movie like “It’s Complicated, Still Alice, The Aviator” and two of the ‘Mission Impossible movies, Mission: Impossible – Rogue Nation and Mission: Impossible – Fallout.’

 

Police launch manhunt for man who raped his 90-year-old mom

 

Detectives have launched a manhunt for Patrick Mumo who ‘raped’ his 90-year-old mother on October 20, 2021, in Mbooni-Makueni county, before going into hiding.

According to K24 Digital, the octogenarian was found in her bedroom by her eldest son writhing in pain, complaining of waist pains.

In a report by the Directorate of Criminal Investigations, the suspect, a 45-year-old, is said to have invaded the lady’s house at 8:00 pm before committing the heinous act.

“She tearfully narrated her harrowing ordeal in the hands of her younger son Patrick Mumo, 45, who forced his way into her bedroom at around 8:00 pm as she slept and subjected her to the beastly act,” the statement read in part.

Police report that the lady was immediately rushed to Kisau Sub-county hospital in serious condition, where she is currently undergoing treatment.

Doctors at the medical facility have since confirmed that indeed she had been raped.

Detectives have sent an appeal to Patrick Mumo Ngenge to give himself up at the earliest available opportunity before the long arm of the law catches up with him.

Just In: Desmond Elliot Reportedly Welcomes Baby with Secret Lover

 

Controversial Nigerian actor cum politician Desmond Elliot has been dragged into another cheating scandal as he has allegedly welcomed a baby with his secret lover.

This was made known by anonymous Instagram blogger Gistlover, but the details of the side chick and the news are still sketchy when filing this report.

The blogger wrote:

‘Hello tueh tueh, Demon (Desmond) Elliot welcomes baby with side hen, details later. I come in peace’.

Few months ago, Gistlover disclosed that Desmond Elliot‘s has a secret baby mama, who happens to be the elder sister of fast-rising actress Sophia Alakija.

From the chats leaked by Gistlover, the baby mama, who was identified as Halima Warde Laraba Rammal, was seen begging Gistlover to delete the post she made by exposing her as the actor’s secret baby mama.

Desmond Elliot’s baby mama added that she would make amends by correcting her baby daddy over the leaked video.

The father of four was also accused of allegedly having a secret affair with an alleged quack cosmetic surgeon, Dr Anu.

According to Gistlover, Desmond’s wife did not know about the actor’s extramarital affairs.

Since these cheating allegations against Desmond, he has been extremely quiet on social media, and he has also turned off his comment section to prevent the public from storming his page with negative comments.

Nigerian Military Kills New ISWAP Leader, Mallam Bako

 

The Nigerian Military has killed the new leader of the Islamic State of West African Province (ISWAP), Mallam Bako.
He was killed two days ago as confirmed on Thursday in Abuja by the National Security Adviser, General Babagana Monguno (retd).

Monguno made the disclosure while briefing newsmen after the security meeting in the Aso Rock Villa presided over by President Muhammadu Buhari during which he received briefings from the nation’s security chiefs and heads of security agencies.

The NSA made the disclosure while recounting the victories won by the troops of the military in the ongoing fight against Boko Haram, ISWAP, kidnappers, terrorists, insurgents, and other criminals in the country.

He said, “The fact again is that the armed forces, the land forces have done an excellent job because in the span of one month we have been able to take out the leadership of the Islamic State of West African Province (ISWAP) – that is Abu Musab Al-barnawi.

“Two days ago, the man who succeeded him, one Malam Bako, one of the prominent leaders of the Shura Council of the Islamic State of West African Province, was also taken out.

“They are also contending with leadership crisis. You know these things are also accompanied with inherent issues of trust, conflicts, mutual suspicion and other things.

“So, the operations being conducted by the armed forces in the Northern parts of the country put a lot of pressure on the Islamic State of West African Province, Boko Haram and also the tangential group known as Islamic State in the Greatest Sahara.”

The disclosure by Mungono comes a few days after the Chief of Defense Staff (CDS), Lucky Irabor had revealed last Thursday that the ISWAP leader, Abu Musab Al-barnawi has been killed by soldiers.

Monguno has now also confirmed that Bako, who is said to have succeeded Al-Barnawi has also been terminated by the military.

 

Ensure Nothing Stops Anambra Guber Poll, Buhari Tells Service Chiefs

 

President Muhammadu Buhari has directed the Armed Forces and other security agencies to ensure that nothing stops the November 6 governorship election in Anambra…

President Muhammadu Buhari has directed the Armed Forces and other security agencies to ensure that nothing stops the November 6 governorship election in Anambra State.

The National Security Adviser (NSA), Major General Babagana Monguno (rtd), announced this to State House correspondents at the end of Thursday’s security meeting chaired by the president.

Monguno said Buhari gave the directive in response to the heightened security challenges in Anambra, orchestrated by the outlawed proscribed Indigenous People of Biafra (IPOB).

“The President has directed that under no circumstances will anything be allowed to stop the elections from taking place successfully. The people have a right to vote and select their leader.”

“No group or individual will be allowed to stimulate anarchy and chaos, leading to murderous activities. The president has made it very clear that the Armed Forces and all law enforcement agencies must make sure that the elections take place even if it means overwhelming the entire environment with the presence of security agencies.

“There are so many implications for elections to be sabotaged by non-state actors; in the first place, we are in a democracy, secondly it is important to note that if these non-state actors should succeed in destroying the potentials for orderly elections, then it is natural that other parts of the country would also want to copy this same situation,” he said.

The NSA said in the last two months, the military had recorded a lot of successes in the fight against insurgency in the North East.

The Minister of Police Affairs, Maigari Dingyadi, who also attended the meeting, expressed the readiness of the police to gurantee peace in Anambra and all other parts of the country.

“In particular, we talked about the Anambra governorship election coming on 6th of November and we want to assure the people of Anambra State and all Nigerians that the government is committed to conducting that election.”

“The election has to be free and fair, we are going to put every machinery in place to ensure that people are well secured. That is the only way to ensure that we promote democracy and good governance in this country,” he said.

Nnamdi Kanu: Soldiers Kill Five IPOB Members In Abia During Gun Battle

 

The Nigerian Army has killed five members of the outlawed Indigenous People of Biafra (IPOB) in the Arochukwu area of Arochukwu Local Government Area of Abia State.

According to a source, the IPOB members were killed on Thursday during an exchange of gunfire with soldiers around the palace of the community’s monarch.

He said the IPOB members were enforcing the sit-at-home order they declared to protest the unlawful detention of its leader, Nnamdi Kanu.

The source said the pro-Biafra agitators took to the streets to celebrate the news that their leader had been brought to court.

He added that the IPOB members who were also in a jubilant mood that Kanu is alive, contrary to reports they had been getting about the safety of the separatist leader, marched on the streets.

On arriving at the First Bank axis of the town, the IPOB members engaged the soldiers in a gun duel, but five of them surrendered to the superior firepower of the troops.

He said the gunshots caused pandemonium in Arochukwu, leaving residents to scamper for safety into nearby bushes.

Source: Naijanews

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