The leadership battle within the Labour Party took a new turn on Friday after the Supreme Court set aside a previous ruling that recognized the Anambra convention, which ratified the re-election of Julius Abure’s National Working Committee.

In a unanimous judgment, the five-member panel of the Supreme Court overturned the Court of Appeal’s decision, which had recognized Abure’s leadership. The Court emphasized that matters concerning party leadership are internal affairs, and as such, the judiciary does not have jurisdiction over them. The Court also noted that based on the submissions presented, Abure’s tenure had expired, and as a result, it dismissed the cross-appeal filed by Abure’s faction of the party.

While media outlets widely reported that the Supreme Court had sacked Abure, the Labour Party leadership quickly issued a statement to clarify that the judgment had been misinterpreted. National Publicity Secretary of the LP, Obiora Ifoh, responded in Abuja, praising the judgment as a validation of the party’s position that political matters are internal affairs.

Later, the party held a press conference where Ifoh reiterated that the judgment did not mean the dismissal of Abure. He emphasized that the Supreme Court’s ruling upheld previous judgments from the High Court and Court of Appeal, affirming that party structures, including the leadership, should be decided internally by the party.

“The Supreme Court judgment didn’t sack Labour Party National Chairman, Julius Abure. Rather, it rightly upheld the preceding and accumulated High Court and appeal court judgments upholding the immutability of responsibility of Labour Party structures to choose its leaders,” Ifoh clarified.

He pointed out that the judgment also did not negate the Appeal Court ruling in Labour Party vs Ebiseni and others, which reaffirmed Abure’s leadership as valid and subsisting.

“The judgment is still valid and subsisting and has not been appealed,” Ifoh stated. He also underscored that Abure remains the Labour Party National Chairman and that the party’s constitution outlines who has the authority to call national conventions and meetings.

LP’s National Legal Adviser, Kehinde Edun, further clarified that the Court’s statement did not imply Abure’s tenure had expired. He explained that the judgment only discussed the general principles of political party leadership, emphasizing that once a term ends, the official can either step down or seek re-election. Edun refuted the claim that the Court had called for a caretaker committee, stating that the Labour Party constitution does not recognize such committees.

Deputy National Chairman of the Labour Party, Ayo Olorunfemi, also dismissed critics of Abure’s leadership, emphasizing that the party’s constitution does not allow for caretaker committees. He vowed that Abure would remain in office until his tenure ended in 2028, mocking those who spread false reports about his removal.

Meanwhile, the Acting National Chairman of the Nigerian Labour Congress Political Commission, Prof. Theophilus Ndubuaku, has hailed the judgment of the Supreme Court.

“We always know a day like this will come. We have done everything to give Abure a soft landing for him to leave the party leadership quietly in vain.

“But with this judgement, he has no choice than to leave,” he told The PUNCH.

On how the NLC will handle the affairs of the party when Abure steps down, Ndubuaku said some members who were permanent members on the board of the LP would set up a caretaker panel.

Also reacting, the National Caretaker Committee of the Labour Party, supported by figures like former presidential candidate Peter Obi and Governor Alex Otti, welcomed the Supreme Court ruling as a victory for the rule of law.

The committee’s chairman, Senator Nenadi Usman, described the judgment as a significant step forward for Nigerian democracy. She called for unity within the party, urging members to focus on advancing the Labour Party’s mission of creating a just, equitable, and people-centered Nigeria.

“The Labour Party remains one indivisible family, steadfast in its mission to create a New Nigeria founded on justice, equity, and people-centred governance,” Usman said, encouraging party members to stay committed to democratic principles during the transition.

[NaijaNews]

Bread is a staple food for many in Northern Nigeria, serving as a primary breakfast choice across diverse ethnic, linguistic, and cultural groups. With bakeries operating in nearly every state, the industry is vital to both regional and national economy.

According to Statista.com (a global data and business intelligence platform), Nigeria’s bread market is projected to generate $18.81 billion in revenue by 2025, with an annual growth rate of 11.04% (CAGR 2025-2030), revenue surged by 14.3% compared to 2023.

In recent years, the price of flour, bread’s key ingredient skyrocketed, reaching over NGN 80,000 per bag in markets across Kano and other northern states. This forced bakeries to raise prices to cover production costs. However, flour prices have since dropped significantly.

Despite this, bread prices remain stubbornly high, sparking concerns among Kano residents.

Investigating the issue, DAILY POST conducted a market survey at Singa Market, a major food distribution hub in Kano and Northern Nigeria.

Flour prices have dropped, but bread prices haven’t

In an interview, a flour distributor in Kano, Usaini Rabiu confirmed the price drop. “Since mid-2024, flour prices have fallen significantly. We now sell a bag for NGN 55,000 to NGN 56,000. There is ample supply, and all major companies are producing. We urge retailers to pass these reductions on to consumers.”

A price check in various stores within the market confirmed this claim. Following this, we visited a well-known bakery in Kano to understand why bread prices had not adjusted accordingly.

A bakery manager, speaking anonymously, insisted that their prices had already been reduced.

“A loaf that previously sold for NGN 1,300 now costs NGN 900, while the NGN 1,000 loaf is now NGN 700. We adjusted our prices as soon as flour costs dropped. However, I’m shocked to see bread being sold at inflated prices elsewhere.”

Middlemen under fire

The manager blamed middlemen for the price inconsistencies, saying “We sell a loaf to distributors for NGN 900, yet I see the same loaf selling for NGN 1,400 in retail shops. When I investigated, I found out that distributors sell to retailers for NGN 1,200, making a profit of NGN 300 per loaf—more than what we, the producers, make!”

A tea and bread vendor, Kamalu Ishaq, echoed this frustration. He lamented that despite flour prices dropping, bread prices have not followed suit.

“There has been no real price relief since flour costs spiked nearly two years ago. If we make any profit on bread, it’s barely NGN 100 per loaf. A NGN 1,000 loaf is sold to us at NGN 900 by distributors. When we complain, they just tell us to be patient, even though we can clearly see that flour prices have dropped.”

The blame game continues

The consistently high retail prices suggest that middlemen and distribution chains play a significant role in keeping bread costs elevated.

However, Abubakar Garba Indabawa, a bread distributor with years of experience, refuted this claim.

“Nowadays, bakeries require full payment upfront. Unlike before, when we could take bread on credit and pay after selling, we now buy at our own risk. The profit margin is minimal -usually no more than NGN 100 per loaf. For every NGN 10,000 worth of bread, distributors make NGN 1,000 in profit. In some cases, we don’t even earn that much.”

What’s the solution?

As this blame game continues, consumers—especially low-income earners bear the brunt. It remains unclear who is truly responsible for the price discrepancy.

Amid growing frustrations, there is a rising call for regulatory measures to ensure that reductions in essential commodity prices, such as flour, translate into lower costs for bread and other bakery products.

[DailyPost]

That Wednesday morning, the chickens came home to roost. Our governments don’t think methodically. Often they explain away consequences as inevitable. That was how our naira crashed and plunged everyone into deeper poverty. Good policies that are poorly thought through and implemented erratically. This time, there was no wiggle room. 

They would like to tell us what could have happened if the bridge was not fixed. Cars would have eventually fallen into the sea. So we must endure whatever comes with the repairs, no matter how inept. They would like to say the economy was more fractured than that bridge. But they won’t mention that a properly planned closure of the bridge will begin with better traffic enforcement on the alternative routes to mitigate the consequences on the already frayed citizens. They never acknowledge that failure to institute cushions before announcing drastic economic policies with wide-ranging impact is bad governance in itself, regardless of intentions. The bridge closure was a glimpse of our national life. 

That Wednesday’s traffic madness threw our mess into bold relief. 

Indeed the signs had been pasted for weeks. “But where is the independence bridge?” That was the question on many lips. The communication was poor. A bridge was to be closed for repairs. Neither the government nor the contractor bothered enough. When it was eventually closed, nobody was ready. The government that closed it wasn’t prepared. Their clumsiness made it seem like life was dependent on that short bridge. 

By 8am that hellish day, Victoria Island, Ikoyi, Lekki, and Lagos Island were grounded. Cars were running back to meet cars running forward. People were jumping down from panting stationary buses and starting to trek. Their faces said they didn’t believe they would get to their destinations. Then the rain came. 

By 11am, most offices had no workers. Many cars caught in the melee had run out of fuel. And those who underestimated the distances they had embraced with their feet were running out of breath. Soon, they would have the independence bridge etched on their minds. Lagos was accustomed to traffic turmoil, but that Wednesday, even for the initiated, it seemed surreal.

All through the madness, neither the police nor Lastma were anywhere to be found. Perhaps they were all stuck somewhere. On a day when a state of emergency could have been declared and soldiers sent in to move the traffic and restore order, the government was soundly asleep. 

If those who shut the bridge had an eye for consequences, they might have re-opened it immediately to relieve the city of the suffocation. Sick people were stuck. Health workers were trapped. But the engineers at the bridge started to break it. Perhaps having put thousands through the anguish, they might as well go through it once and for all. If likened to taking out a bad tooth without anaesthesia, having started, they were justified to continue and finish. 

When the minister of works, who, it appears, has no respect for environmental impact assessment assays, woke from his slumber, it was already sunset. Without thinking it through, he announced that the works be stopped and the bridge reopened. Perhaps he was worried that some aunties of the president would reach him to tell him that the minister had put them through hell. Perhaps the president was already screaming at him.

Unfortunately for the minister, his order for re-opening left him looking clueless. The bridge had been excavated and broken. The next morning, the governor stepped in to do damage control. He tendered a solid apology. He begged the public not to dwell in the blame game. It’s difficult to know between him and the minister who should get the kick in the groin. 

The bridge repairs were overdue. But had anyone been thinking about the people, arrangements would have been made to lessen the suffering. Lagos can put traffic officials, soldiers and policemen at every bottleneck and curtail the anticipated constipation. But the authorities slept and the city became an obstructed and tangled mess. They know how to prepare for the visit of the president, to prevent him getting trapped in traffic. But they couldn’t think about the people.

That fateful Wednesday, some people got to work at 4 pm. Bedraggled and famished. They hid in their offices till 11pm to avoid any contact with the scourge on their way home. But at midnight, they still ran into it. Many got back home at 5 am. Only to have their bath and start another sleepy uncertain journey back to the office. 

By the time the governor was rendering his apology for the previous day’s commotion, another maze was forming. Nothing had been done overnight. He politely asked the public to disregard the minister of works, suggesting that the Abuja man was at a remove from the consequences. He asked the people to brace for the disruptions to get a healthy bridge and avoid a calamity. Once again he asked for two whole months to fix the short bridge. 

After the governor left the scene, the minister appeared. He said he was sent by the president to sort out the bridge and the nefarious traffic. He said he was taking responsibility but didn’t avoid throwing his staff under the bus, saying he wasn’t informed of the closure and the repairs. He said the president was displeased. He said the Controller of Works wouldn’t go unpunished. The number of times he mentioned ‘Mr President’ left no one in doubt. The president wasn’t just on his neck, but the sulking president was perhaps angry with the governor too. During this appearance, the minister praised the governor for his effort in curbing the traffic before he arrived from Abuja. 

But before sunset, the minister returned. He announced the bridge must be re-opened the next day. “Before the close of work,” he said. Obviously, the president sent him back. Perhaps the governor’s stance had bruised the president’s ego. In his usual style, whenever he had to shield his boss’ tempestuousness, Umahi was ambiguous. He said by the next day, he would have effected a temporary fix that could become permanent. The same bridge he had planned to close for two months for a proper fix. At some point, he almost suggested that the temporary fix could even be a blessing in disguise. Tomorrow he might attribute the ‘miracle’ to Mr President. The same Umahi who had claimed he supervised the original engineering repair design was speaking like a peripatetic luxury bus medicine dealer. Effectively, the broken bridge will be patched up. 

A clash of egos in the end, possibly. Excruciating levity, flippancy and costly reversals, certainly. A country stumbling along. The brunt is always borne by the people. The bridge could be closed again next month. Umahi would again come with some mumbo jumbo.  The story of our country. 

•Kidnappers fed a newborn baby to their dogs in the presence of the kidnapped mother

WHAT occurred at Uromi, headquarters of Esan North East Local Government Area in Edo State on Thursday, March 27, could have befallen any other community in the heartbeat of the nation, given the prevailing circumstances, tension, and anger over the hair-raising operations of suspected herders in combination with abductors.

More than 24 other communities in Edo Central, Edo North, and Edo South senatorial districts have been sacked and under siege by criminally-minded herders from northern Nigeria.

The same could also have arisen in over 30 communities in Delta and Bayelsa States, where the residents, especially farmers, are terrified to go to farms because of some brazen Fulani herders who invade their farms, uproot crops they planted and feed their cows, rape women, and take the villagers hostage for ransom.

A few months ago, bewildered women stormed the palace of the Onojie of Uromi to vent their anger at the rising cases of kidnappings and killings.

The situation became so frightening in January that the Onojie of Uzea, Esan North East local government area, HRH Solomon Itoya Iluobe, declared that he did not want to see any Hausa/Fulani in their forests because of their atrocities.

”Our women go to their farms, they rape them, and at times they even set them ablaze. I have paid ransom three times to Fulani herdsmen; they kidnapped my elder sister, and they have also kidnapped two people from this place. Even last month, I paid a ransom.

“To even sleep in this place is by the grace of God Almighty. To access this road, you need security, which is a problem.

“I, as Onojie of Uzea, no longer want Fulani in my forests. They will kidnap us, keep us in our land, and we will pay a ransom. We are tired. I do not have a hand in Fulani, and anybody who has a hand in their staying in our forests should tell them to leave Uzea. We need security here so that one day we will not wake up and discover that we only have two people remaining in the Uzea Kingdom.”

Some weeks ago in Bayelsa State, where the deputy governor confirmed that several local governments were under siege by herders, mothers protested the destruction of their farmlands and rape by the prowling cattlemen.

In Delta, Edo, and Bayelsa States, the situation is as if herders plotted and intensified their operations in the first three months of this year to make life unbearable for the people, who have cried hoarse about their nightmares with the federal and state governments doing little to protect the citizens.

We are hunters, not terrorists — Survivors

However, last week’s incident in Uromi was ill-fated. A raging mob roasted alive 16 out of 27 persons of Hausa origin who identified themselves as hunters and were traveling from Port Harcourt, Rivers State, to the northern part of the country for the Salah celebration on the supposition that they were kidnappers after finding a cache of arms and ammunition with them.

Some people argued that it was a transferred hostility. Two survivors of the Uromi attack who narrated their near-death experience said they were hunters from Kano State.

They said the rifles recovered by the vigilante group were hunting rifles, claiming they had licenses; however, the vigilante cluster accused them of being terrorists and lynched 16 of them, while five others escaped.

Concerned citizens have also pointed out that the people lynched were Hausa indigenes and not Fulani herders, who the Uromi people claimed were attacking farmers and kidnapping villagers for ransom. Eyewitnesses said more than 20 persons were in the trailer, but some Uromi indigenes helped some of them to escape lynching.

The whereabouts of arms, ammunition, and cash allegedly found are unknown

There is a controversy over the whereabouts of the arms and ammunition found with the victims, but what they saw with them were Dane guns.

A villager said the guns were with the police, but the police public relations officer said everything that has to do with the case has been transferred to the Force Criminal Investigation Department (FCID).
The whereabouts of the supposed cash found in the trailer remain unknown.

Ubiaja indigene sighted victims transferring weapons into a waiting trailer – Ben

Some locals who disputed the claim of the Hausa victims said some kidnappers also have dogs with them in their hideouts in the forests, but the way the victims behaved created room for suspicion from the point they were sighted loading their consignments into a waiting truck, along the road between Onicha-Ugbo in Delta State and Ubiaja in Edo State.

A non-indigene who lives in Uromi, Ben (surname withheld), gave a peek into what happened. His words: “I condemn the act of jungle justice, which is not in line with our constitutional provision of how offenders of any form of crime can be tried.”

“However, those persons are presumed to be kidnappers because information available showed that if you are passing through here to the east, you will move from Uromi to Ubiaja, Ewato, and Ewohinmi, down to Onicha-Ugbo, and there is a forest and a river.

“That place has been a flashpoint; they (herders and kidnappers) have laid siege on that part of the road for the past months, and it was at that spot that an indigene of Ubiaja moving towards Ubiaja from the Onicha-Ugbo axis saw these men carrying their arms from one person to another and into the trailer with Dangote inscribed on it.

“He quickly drove to town and alerted the vigilante men at Ubiaja, who waited for the truck. On getting to Ubiaja, the trailer did not stop for the vigilante, so the vigilante at Ubiaja sent a distress call to those in Uromi, and they mounted surveillance.

“The vigilantes in Uromi were able to use a tipper with a full trip of sand to stop the trailer, and at the point of questioning them, one of them stabbed the vigilante with a dagger, which was how the thing escalated. It is regrettable the way they were handled, but they caused the provocation, and their movement was suspicious.”

What gave them away— Prince Olumese, native

Corroborating the claim, Prince Eugene Olumese said the victims could have also camouflaged as hunters because “there are hunters that carry dogs and Dane guns.”

“From the environment I grew up in, Lagos and Ogun states, we used to see hunters in the bushes, irrespective of what tribe they were; some of them even have huts in the bushes. But even at that, were these people hunters? It could be. Are they kidnappers? It still could be, but some reasons will make you say these people are likely to be kidnappers or hunters.

“They covered themselves with a tarpaulin in a truck filled with palm kernel shells, which means they did not want anybody to know that people were there. Why? Hunters should walk freely in towns; there was something spectacular, and they also had plenty of money. New currency notes—look at it, hunters with new currency notes!

“Many trucks drove through Uromi that day without anybody searching. This truck was carrying palm kernel shells. You can imagine what it took them to search and discover human beings and then guns, money, Dane guns, and dogs, so these people (vigilantes) were working on a tip-off.

“There are videos and write-ups in social media by Uromi indigenes saying these things are happening; they kidnap poor men, they kidnap our women, they rape our women, and they insert sticks into their private parts.

“Sometimes, even when ransoms were paid, they would hold the person who came to pay the ransom and release the one who was held before. These things kept happening again and again, yet nothing was done on these cries, and if anything was done, it was not to the satisfaction of the Uromi indigenes.

“Though it is not right that they took the law into their hands, something triggered the anger. You can imagine that when people are arrested in the act and taken to the appropriate authorities, especially the police, and in a few days to months, you see the same people walking freely.

“Your life is at risk, especially those who keep watch over the town, whom we call vigilantes, because these people will come after them. This was why they mobbed them to death, which is inappropriate. We are unhappy about it. But a situation that was not remedied caused it to happen.”

Why did they hide in the trailer? Okojie, native queries

Another indigene, Brown Okojie, said, “We see trucks pass through here, and you would see the boys who we call aboki standing on the top of the trucks; they hang their Dane guns on their shoulders, and you would see the dogs they carry, but these, they were hiding in the Dangote truck. why?”

A week before that incident, five kidnappers were arrested in the forest, and they were taken to the police station in Uromi, which transferred them to the state police headquarters in Benin City. But shockingly, the following Monday, the same people were released back to the community, thereby putting the lives of those who apprehended them at risk.

Okojie revealed: “A day before the incident, N25 million was paid as ransom to the herders to release a husband and his wife, but they still killed them and left their bodies along the Ubiaja Road.

“That same day, a lady went to pay N5 million to bail her sister from the herdsmen in Uromi; they collected the money, released the initial victim, and then kept her. Now, we are looking for money to release her. As we speak, people who are victims of kidnapping are still with their captors, these Fulani herdsmen.

Fulani herdsmen fed a newborn baby to their dog in the mother’s presence

“Early this year, a pregnant woman was in labor, and the husband had no choice but to carry her around midnight to the hospital. On their way to the hospital, herdsmen kidnapped them. The woman was in labor throughout that night until morning, and she gave birth to a baby boy in their presence.

“The Fulani herdsmen gave that baby boy to their dog because they move with the dogs; the woman said she watched her baby being eaten alive by the dogs. She is still living with the trauma, so you cannot just say that because those victims were with dogs, it made them hunters. After this incident, they still asked for ransom before they were released. They did that to show their level of harshness.”

He said a few days before the incident, about 12 children were going to school together in a community in Ewohi, cows emerged from the bush, the children ran, and a three-year-old child who could not run was trampled upon, killed by the cows, and nothing happened

They are not hunters — Ordia

Ordia, who has been involved in negotiating the release of a kidnapped person, said, “It is not a good experience at all. About two months ago, a very close friend of mine was kidnapped, and the members of our association had to rally round, levied ourselves, including church and family members, and raised N3 million before they released him.”

I am not particularly pleased with how the authorities and media have handled this matter, that they are hunters traveling from Port Harcourt to Obajana and Kano State, as the case may be. Port Harcourt is a riverine area, so where were they hunting? I believe that these guys were not hunters.”

Villagers identified some of them as kidnappers before the lynching

A source told Saturday Vanguard: “What provoked the mob to lynch the 16 persons was when villagers who claimed to have been abducted in the past past came to the scene, and identified some of them as those that kidnapped them.”

“Some of them also identified some items found with them as property they stole from them during their kidnap.

“If they were hunters , why were they not with dried meat and any other things that would show they were hunters? They use the weapons they carry to hunt and kill their fellow human beings, not animals.

“Is it the bags of rice that the vigilantes saw with them that were their proof of being hunters when we already knew they took off from their hideout in the thick forest between Onicha- Ugbo and Ubiaja.”’

Okpbholo’s intervention after dismantling Obaseki’s ESSN

When Governor Monday Okpebholo visited Uromi on March 28, a day after the incident, Hausa people residing in the community and some natives staged parallel protests.

Both sides almost clashed before security agents shot to disperse them, after which the governor came down from his vehicle to address them.

The women’s protest on social media, purporting that they barricaded Okpebholo’s entourage, was an old video.

The protesting women, however, said they were worried that the state government had stopped the local vigilante protecting them in Uromi, and “Now, it is operation secure yourself.”

Former governor of the state, Godwin Obaseki, had set up the Edo State Security Network (ESSN), mainly vigilante members. Many of them registered with the state government with their arms.

Some were trained by the security forces at the Mobile Police Training School in Ogida Barracks, Benin City, and the government deployed them across senatorial districts, local government areas, and communities. They worked with the local vigilantes and hunters in the communities.

They also mounted roadblocks at the flashpoints around the highways and communities, and at times, jointly searched the forests with government security agencies to checkmate kidnappers and their activities.

When Governor Okpebholo assumed office, he appointed Friday Ibadin, a retired commissioner of police, and changed the name to Edo State Security Corps. Ibadin recalled the personnel and ordered them to submit their guns and appear for profiling, which is what he has been doing for the past three months. The governor suspended him soon after the Uromi incident.

The Okpebholo government took a hard stance against kidnapping by demolishing properties linked to criminal activities, including those of suspected informants and kidnappers, and has vowed to continue this crackdown until kidnapping ends in the state.

These actions were taken based on a new anti-kidnapping law in the state. According to the new law passed by the Edo State House of Assembly and signed by the governor, any house found to be used for kidnapping activities will be demolished to serve as a deterrent to others.

Under the new law, a landlord “must profile a person before giving out their house to him or her for rent.”
The government intensified its crackdown on individuals aiding kidnappers, as the state’s task force demolished several properties within the Edo Central and Edo North senatorial districts.

The measures seemed to be yielding results as collaborators were already allegedly fleeing their areas, abandoning their properties for fear of being demolished until the March 27 tragedy.

[Vanguard]

The banking sector dominated headlines in the past few days following the humongous earnings released by most of the financial institutions in their full-year 2024 financial results.

In a country where individuals and companies are hurting from economic challenges and rising cost of basic necessities, the financial industry seems to be projecting a stark contrast as commercial banks continue to churn out staggering and record-breaking earnings.

For instance, the pre-tax profit for five tier-1 banks rose by about 69.5 percent to N4.56 trillion in 2024, as against the N2.69 trillion they recorded in 2023, just as their net profit after tax grew by 66.2 per cent, from N2.27 trillion in 2023, to N3.78 trillion in 2024.

Key extracts from the full-year financial results of United Bank for Africa (UBA) Plc, First Holdco Plc, Zenith Bank International Plc, Guaranty Trust Holding Company (GTCO) and Stanbic IBTC Holdings Plc revealed a strong jump in their respective profitability and assets.

Their combined total assets hit N108.21 trillion in the review year, compared with the N72.80 trillion recorded in 2023.

For UBA, while it recorded a pre-tax profit of N803.72 billion in 2024, compared with N757.68 billion in 2023, its net profit rose from N607.7 billion to N766.6 billion. Zenith Bank’s profit before tax rose from N795.96 billion in 2023 to N1.32 trillion in 2024, while its profit after tax also crossed the N1 trillion mark from N676.9 billion to N1.03 trillion.

GTCO printed pre-tax profit of N1.27 trillion in 2024 as against N609.3 billion in 2023, and its net profit rose from N539.66 billion to N1.02 trillion. First Holdco doubled profit before tax from N356.15 billion in 2023 to N862.39 billion in 2024, while its profit after tax increased from N308.4 billion to N736.7 billion.

Stanbic IBTC Holdings’ profit before tax doubled from N172.91 billion in 2023 to N303.8 billion in 2024, while profit after tax increased from N140.62 billion to N225.3 billion.

In the same vein, Fidelity Bank Plc which is not in the tier-one league reporting a 210 per cent growth in its profit before tax to N385.2 billion in 2024. According to the bank’s results released on the Nigerian Exchange (NGX), its profit after tax jumped by 179.6 percent to N278.1 billion in 2024.

Clearly, this is a startling dissonance and most Nigerians are wondering how possible it is for a sector to thrive so magnificently amid the economic hardship in the land? They are also questioning if these earnings are a testament to sound financial management, or do they signal a widening gap between the prosperity of the banking sector and the struggles of everyday citizens?

This questions arise because today, millions of Nigerians still experience multidimensional poverty as the country faces unique challenges in addressing poverty, considering its diverse population and regions. With the rebased Consumer Price Index, inflation in Nigeria today stands at 23.18 percent with the harsh business environment.

While the robust finance performance is partly attributed to banks taking advantage of the high interest rate environment and foreign exchange revaluation gains, many banks also short-change their customers and illegally profit from hidden and arbitrary charges. These excess charges range from commission on NIP transfer, VAT charges, SMS VAT charges, SMS alert charges, processing fees, interest charges, commission on turnover, card and account maintenance fees, withdrawals, and transfers charges, ATM fees, stamp duty fees, among others. Annoyingly, some banks charge for each of the more than two SMS notifications they send on a single transaction, in a country where workers’ minimum wage remains lower compared to other emerging economies.

These numerous charges significantly erode bank customers’ savings in Nigeria, compared with other jurisdictions where such charges are often non-existent, especially for basic accounts. It also impacts negatively on financial inclusion.

Indeed, this is not about demonising banks making profits, it is about advocating for a more balanced approach and responsible banking. The concerns of banks profiting from excessive charges call(s) for scrutiny and highlight(s) the need for consumer protection.

Also, beyond declaring huge profits, banks should note that they are essential in providing a safe place for individuals and businesses to store their money, offer loans to stimulate economic activity, and facilitating a wide range of financial transactions.

The concern by the President of the Manufacturers Association of Nigeria (MAN), Francis Meshioye, who recently stated that commercial banks are not supporting manufacturers and small and medium-scale enterprises (SMEs) enough should also be looked into.

According to Meshioye, the percentage of bank loans to the real sector yearly, compared to other sectors, is abysmal, currently at about 12.9 per cent.

“Besides scarcity, the cost of funds is too high and no manufacturer can produce anything with the current interest rate. If the banks have access to short-term funds, they cannot give long-term loans. The cost of funds will determine how much the banks are going to give out as they certainly cannot give out funds at a loss to them.

“The banks are growing their capital base and declaring huge profits while manufacturers are declaring losses and closing shops. When we even get the funds, by the time it is time to pay back, the cost of funds has gone up and we find out that our capital base has eroded even more,” he said.

From the foregoing, commercial banks must shun arbitrary deductions from customers’ accounts, and transparency, fairness should be their guiding principles.

The Federal Competition and Consumer Protection Commission (FCCPC) which has statutory mandate under the Federal Competition and Consumer Protection Act to intervene in matters that adversely affect consumer interests, must also be alive to its responsibility to prevent banks from ripping off consumers.

Equally, the Central Bank of Nigeria (CBN) has to ensure that the regulatory environment is strengthened so that banks can operate in a manner that aligns with the nation’s developmental goals. Policies that promote financial inclusion, encourage lending to productive sectors, and curb excessive interest rate spreads are essential. It is equally important for regulators in the financial system to initiate enduring public awareness programmes that will build financial knowledge and literacy of consumers.

The development also justifies the need for the federal government to ensure the enforcement of last year’s imposition of a windfall tax. In July 2024, the National Assembly passed a bill that was assented to by President Bola Tinubu in August 2024. By the Finance (Amendment) Act 2023, the windfall tax targets the significant profits banks made due to the naira’s devaluation. This policy is expected to push banks towards more sustainable and ethical business practices, where profit generation is aligned with long-term value creation, customer satisfaction, and economic development.

Finally, for Nigeria to truly prosper, the benefits of economic growth must be more equitably distributed. Banks must also contribute towards ensuring that the country achieves inclusive growth and one where the prosperity of the few translates into opportunity for many.

In Nigerian politics, loyalty is not merely a virtue—it is a double-edged sword, a cross to bear, and sometimes, a noose. A man who stands firm with his principal will either be praised as a committed ally or seen as an obstacle to someone else’s inordinate ambition. In the latter case, such a man must be “removed.”

This appears to be the case in the ongoing saga between Senator Natasha Akpoti-Uduaghan and Senate President Godswill Akpabio. Akpoti-Uduaghan, who initially attributed her removal as Chairman of the Local Content Committee to sexual harassment, has now changed her tone—claiming she was sacked for “protecting Northern interests.”

When one places this narrative side-by-side with the comments of Busola Saraki, Atiku Abubakar, the Arewa Consultative Forum, and other Northern elements, the larger play unfolds. This is not an innocent drama of legislative disagreement. It is a carefully choreographed spectacle—replete with villains, pawns, and shadows.

At the heart of it stands Akpabio—a man accused, maligned, and marked. Not because he has broken any law or committed any proven wrong, but because he has stood firm beside President Bola Ahmed Tinubu. And for that, he must be brought down.

There is, without question, a gathering of dissenters—former aspirants, serial losers at the ballot, political relics whose time has passed but whose ambitions remain undimmed. They have no national vision to offer, no coherent philosophy to propose—only a festering grievance and a common enemy: the man who defeated them.

Their aim is simple: to seize, through subterfuge and scandal, what they could not secure through the sovereign will of the people. And if power cannot be regained, then the next best thing is to make the country ungovernable.

The first phase of this plot is clear—decimate the President’s Praetorian Guard. Strip him of loyal allies. Render him vulnerable as 2027 approaches. In their crosshairs is Akpabio, and Senator Akpoti-Uduaghan appears to be the willing hired gun for the dirty job.

Why Akpabio? Akpabio is the first supporter they wish to sacrifice on the altar of vengeance. A visible ally of Tinubu. A formidable defender of the administration. They know that weakening Akpabio loosens the pillars holding up Tinubu’s house. And so, they reach for their weapons—not of war, but of whispers and smear campaigns, sponsored headlines, and strategic falsehoods. Among these, the most visible instrument is Senator Natasha Akpoti-Uduaghan—a willing tool for their evil enterprise.

They know that as long as Akpabio remains Senate President, Tinubu’s re-election bid will enjoy solid legislative backing.

As Machiavelli put it, “He who guards the throne is more dangerous than he who sits upon it—remove the guardian, and the throne becomes a chair.”

 Akpabio is a major guardian of the Tinubu throne. Hence, the attacks from all angles.

Let us not be beguiled by sentiment. Senator Natasha, in this context, is not a lone voice of justice crying in the wilderness. She is no accidental heroine. She is a pawn in a larger political game—a game devised in the drawing rooms of desperate politicians who, unable to govern Nigeria, now seek to ruin those who do.

The names are not unfamiliar: Atiku Abubakar, Nasir el-Rufai, Peter Obi—the trio of ambition, bitterness, and illusion. They lost the 2023 election, not through fraud or manipulation, but through the expressed will of millions of Nigerians. Yet, rather than accept the verdict of democracy, they now seek to dismantle its very instruments. What better place to strike than the Senate? And what better target than its presiding officer?

This is not speculation. Their recent statements, social media antics, and strategic silences at critical moments reveal their hand. Atiku’s viral, unprovoked attack on Akpabio is no coincidence—it is part of the plan.

Natasha is not a loose cannon; she is a guided missile. The game plan is simple: manufacture crises from the most mundane matters, paint key figures as villains, and set the stage for a grand opposition showdown in 2027. Her sudden outburst in the Senate and carefully choreographed media blitz were the cold open of the movie. Now the sequence has been established, and the opening credits are rolling—featuring Bukola Saraki and company.

From a routine seating arrangement—a mundane legislative procedure—Senator Natasha has now conjured accusations of sexual harassment, threats to life, and elaborate conspiracies. The timing of this remembrance, suddenly arising a year after the alleged incident, is not only convenient; it is calculated. A smokescreen. A decoy. An attempt to stain a man’s name in the court of public opinion, where evidence is no longer required, and accusation is guilt enough.

There’s an old legal maxim: Give a dog a bad name and hang him. That, indeed, is what is unfolding. The Atiku-led clique is directing the movie. The volume of money pumped into this needless campaign to lure international media and embarrass the nation is staggering.

One day, it’s alleged insults. The next, sexual harassment. Tomorrow—who knows? Perhaps they’ll say Akpabio plans to auction Nigeria. The strategy is obvious: manufacture offence, amplify it through a compliant media, and weaponize it for political gain. But Nigerians are growing wiser—and wearier.

Even locally, all these unpatriotic efforts to create global embarrassment have yielded nothing. Nigerians are not fools. They know, as all people of discernment do, that justice cannot be built on lies, and democracy cannot thrive on deceit. The cry for accountability rings hollow when it emerges from a place of partisanship, not principle.

If Senator Natasha were truly pursuing justice, would she be flanked only by those with a declared interest in toppling the administration? According to the ancient Nigerian proverb: “When an owl hoots in the night and a child dies in the morning, we all know who to suspect.” In this case, it is now clear: Natasha was never a bystander. She was a hired agent provocateur sent to destabilize the Red Chamber. The logic was simple: strike Akpabio, the shepherd, and the sheep would scatter.

Before the unsuspecting public, a mere seating issue has now mushroomed into a web of accusations—sexual harassment, assassination plots, and shadowy threats—all conveniently aimed at one man. When we uncover the lies, she changes the script—hoping the audience forgets the plot.

This is a textbook case of “Give a dog a bad name and hang it.” The goal is to destroy Akpabio’s public image. First, he allegedly harassed her. Then, he sidelined her. What next? That he plans to privatise the oxygen Nigerians breathe?

Let us be clear: the Natasha debacle is a scripted drama to paint Akpabio as a villain and a threat to democracy. Ultimately, the goal is to weaken Senate leadership. But Nigerians are not being fooled—and many already see through the charade. History has taught us that in politics, those who cry the loudest often have the most to hide.

This episode is not about justice, democracy, or the protection of women—it is about power. Senator Natasha Akpoti, who has previously accused several men of sexual misconduct, is a well-placed pawn in a political chess game. Akpabio is simply the collateral victim. The true aim is to erode Tinubu’s support base and pave the way for an opposition comeback in 2027. Those who cannot see this are either naive or willing accomplices in the drama.

Akpabio, for all his human flaws, remains a political heavyweight whose loyalty to Tinubu is unshaken. And that, dear people, is his real crime. If Natasha truly sought justice, she would not wage a media war in harmony with those who lost at the ballot and now hope to win through chaos.

As the Yoruba wisely say, “The rat cannot claim innocence when found near the pot of soup.”

The motives are transparent. The cast is clear. The only question is whether Nigerians will fall for the performance or stay focused on the real issues.

To Senator Akpabio, I say: take heart. The storm may rage, the winds may howl—but the tree with deep roots does not fear the tempest, and the eagle does not flinch at the storm. History is rarely kind to the mob—but it always remembers the man who stood tall when it was easier to fall.

Dr. Daika, a Political Communication Strategist writes from Plateau

We ordinarily would not waste words on faceless social media platforms like the so-called "Adamawa Happenings." However, in light of inquiries from concerned Nigerians and credible members of the press, we are compelled to set the record straight:

His Excellency Atiku Abubakar, former Vice President of Nigeria (1999–2007) and Presidential Candidate of the Peoples Democratic Party (PDP), has not — we repeat, has not — resigned from the PDP. He remains a steadfast, bonafide, and loyal member of the party.

The source of this baseless rumour is a Facebook page peddling falsehoods, evidently orchestrated by desperate political operatives with nothing but mischief and confusion on their agenda. It is a calculated attempt to mislead the public and sow discord among the millions of Nigerians who look to Atiku Abubakar for direction and leadership.

This is not just fake news — it is a crude, shameless political hatchet job.

We urge Nigerians, especially supporters of the Waziri Adamawa, to disregard this malicious fabrication. It is a vile, vexatious ploy that deserves nothing but contempt.

Atiku Abubakar remains committed to the ideals of the PDP and to the democratic aspirations of the Nigerian people.

Signed:
Paul Ibe
Media Adviser to Atiku Abubakar
Vice President of Nigeria (1999-2007) and Presidential candidate of the Peoples Democratic Party
Abuja

The Chairman of the Federal Civil Service Commission ( FCSC), Prof. Tunji Olaopa, has described the coronation of the 46th Aláàfin Ọ̀yọ́, Ọba Abímbọlá Akeem Ọ̀wọ́adé, as a giant leap in Yoruba renaissance.

According to Prof. Olaopa, the coronation of a new Aláàfin of Ọ̀yọ́ is always an event that possesses social, political and cultural symbolism and significance. "This is why I deeply congratulate His Imperial Majesty, Ọba Abímbọlá Akeem Ọ̀wọ́adé, on the ascension of the throne of his fathers. This is an event whose significance transcends Yorùbáland and reverberates into the Yorùbá diaspora and the entire world where Yorùbá sociocultural and political influence is felt."

This is contained in a congratulatory message Olaopa issued to celebrate the new monarch whose coronation takes place on Saturday April 5, 2025 .

To Olaopa, the new Aláàfin is "wearing big shoes not just as the successor of the charismatic and highly influential leadership of past rulers, from Aláàfin Atìbà Atọ́batẹ́lẹ̀ to the unforgettable Aláàfin Lamidi Adéyẹmí—the traditional geniuses whose deep sense of history enabled them to curate the cultural relevance of the ancients and their traditional wisdom and institutions. He is also the inheritor of the great ancient tradition and heroic achievements of the leadership accomplishments from Ọ̀rànmíyàn to Ṣàngó, those whose foresights and selfless humanism laid the foundation of the formidable Ọ̀yọ́ Empire, and a cultural philosophy that gave the idea of the ọmọlúwàbì to the world."

For Olaopa, therefore, this ascension is therefore not a sinecure as he is confronted "with a modernizing imperative that serves as the core of the urgency of facilitating a Yorùbá renaissance at home and abroad. This renaissance must be founded on the rich tapestries of Yorùbá culture and civilization—that the Yorùbá built cities and founded dynasties; they created cultural dynamics and oversaw resilient political institutions; they conquered lands and incubate an entrepreneurial spirit that kept them on the critical frontiers of multidimensional achievements that have weathered the erosion of time. All this makes the Aláàfin a singular figure—a traditional agent of modernization that stands at the crossroads of managing the orthodoxy of tradition while launching the Yorùbá on the path of renewed modern vigor. This is even all the more so as traditional institutions in Nigeria places the traditional ruler within the context of democratic rejuvenation and consolidation. This is because it is at the level of the traditional institutional framework that Nigeria’s local governance dynamics become clarified and revitalized.

"The Aláàfin therefore becomes a symbolic pointer to the possibility of local governance that serves also as a modernizing influence on grassroots development. Yorùbá renaissance must therefore start at the level at which the Aláàfin constitutes the rallying point for southwest socioeconomic development. But this role as the vanguard of local governance means the Aláàfin has to first stimulate a climate of peaceful coexistence that constitutes the most significant element for socioeconomic development, starting from Afijio communities to the Òkè-Ògùn axis and rolling outward to the entire southwest as a corridor of development that builds on a climate of peace to instigate an industrializing progress that will eclipse past developmental efforts."

For the new monarch to realise these, according to Olaopa, he must be able to "stand above the recurring adversarial relationship that seems to define the relationship between the Aláàfin and the Ọọ̀ni of Ifẹ̀. This is one historical moment when the Aláàfin needs to be meticulous and deliberate in deploying his status, as the symbol of cultural unity, to articulate a relational framework that will ensure that all cultural and political resources are harnessed towards the task of making Yorùbáland a source of exemplary leadership that undermines the depth of irrelevance to which traditional rulers and traditional institutions have been reduced in Nigeria’s contemporary sociocultural and political reckoning.

" The ascension of the monarch will bring a cosmopolitan touch to modernize tradition for the emancipation of Oyo people.I see the coronation of His Imperial Majesty, Kábíyèsí Ọba Abímbọlá Akeem Ọ̀wọ́adé as the signal to a new beginning not just for the Ọ̀yọ́, Òkè-Ògùn and the southwest, but essentially for the injection of a youthful dose of creative and cultural innovation into Nigeria’s democratic experiment. May the reign of His Imperial Majesty, Aláyélúwà, Kábíyèsí Ọ̀wọ́adé be long and peaceful and fruitful—Àṣẹ!."

President Bola Tinubu has expressed sadness over the passing of Bauchi-based Islamic cleric Dr Idris Abdulaziz Dutsen Tanshi, who passed away in the early hours of Friday.

He was 68 years old.

President Tinubu, deeply moved by the loss, said the cleric contributed to moulding millions of youths and other Muslim faithful on the tenets of Islam.

The President extolled Dr Abdulaziz's efforts in countering the spread of violent extremism, especially in the early days of the Boko Haram conflict.

He said the Muslim faithful would greatly miss the cleric's trenchant voice, calling for moral rectitude and probity.

While praying for the repose of Dr Abdulaziz's soul, President Tinubu urged his family and followers to find solace in his good work.

Bayo Onanuga

Special Adviser to the President

(Information & Strategy)