First Bank of Nigeria (FBN) Holdings Plc says shareholders have approved its plan to change the company’s name to First Holdco Plc. 

In a notice on Friday, Adewale Arogundade, the company secretary,  said the decision was approved by shareholders at its 12th annual general meeting held virtually on Thursday.

According to the company, the change will be extended to all subsidiaries.

“That there should be a change of the legal and brand names of the Company from FBN Holdings Plc and FBNHoldings to First Holdco Plc and FirstHoldco, respectively,” FBN Holdings said.

“That the change of legal and brand names should be extended to the subsidiaries of FBN Holdings Plc

“That the directors be and are hereby authorised to perform all such other acts and do all such other things as may be necessary to give effect to the above resolutions, including, without limitation, complying with the directives of any regulatory authority.

“That upon completion of the processes for the change of name, Increase of the Company’s share capital and allotment of the new ordinary shares in accordance with the resolutions above, the Memorandum and Articles of Association of the Company be amended as necessary to reflect the Company’s new legal name and Issued share capital.”

FBN HOLDINGS TO RAISE N350BN VIA RIGHTS ISSUE, PRIVATE PLACEMENT

FBN Holdings also announced shareholders approved the sale of shares to private investors and existing shareholders to raise N350 billion.

“The Company be and is hereby authorised to undertake a capital raise of up to ₩350,000,000,000.00 (Three Hundred and Fifty Billion Naira),” FBN Holdings said.

“The capital raise transaction shall be implemented by one or more transactions through the issuance of shares by way of a public offering, private placement, rights Issue in the Nigerian or International capital markets.”

FBN Holdings said the price will be determined by “way of a book building process or any other valuation method or combination of methods, in such tranches, series or proportions and at such periods or dates, coupon or interest rates, within such maturity periods and upon such other terms and conditions as may be determined by the Board of Directors.

The financial institution said the capital raise will be subject to approvals of the relevant regulatory authorities.

FBNH Holdings said the share capital of the company will be Increased by the exact number of ordinary shares “which would be required upon determination of the terms of the capital raise and the Directors are authorised to pass resolutions for such increase, as well as to allot the new ordinary shares. required in connection with the capital raise”.

“That the directors be and are hereby authorised to undertake all necessary actions to secure the listing and admission to trading of securities issued pursuant to the foregoing resolution on the Official List of the Nigerian Exchange Limited and/or on any other securities exchange(s) or market(s),’ the company said.

In April, the company had said it would sell shares to private investors and existing shareholders to raise N300 billion.

On November 1, FBN Holdings  announced plans to raise about N150 billionthrough a rights issue programme.

The Nigeria Police Force (NPF) says it has deployed 34,000 officers in Ondo ahead of Saturday’s off-cycle governorship election.

Abiodun Alabi, the deputy inspector-general of police (DIG) coordinating election security, spoke on Friday during an interview on Politics Today, a Channels Television programme.

Alabi said adequate measures are in place to stop the infiltration of thugs during the poll, noting that operatives will be stationed at the 3,933 polling units in all LGAs of the state.

“We just want to dominate the security space, to let people know that we cannot allow anybody to truncate the electoral process,” he said.

“We have intelligence that some people are trying to organise some militias to truncate the electoral process.”

The police chief said tactical units, an aerial surveillance team, and marine police, among others, would be deployed in the state.

Alabi noted that there would be restrictions on movement on the election day from 6am to 6pm, adding that the police have received intelligence about plans to sabotage the poll.

 

He assured voters of their safety, noting that the police have done adequate threat analysis to ensure a peaceful election.

“No movement; we are going to restrict everybody’s movement. We don’t want anybody to infiltrate the state,” he added.

“It is part of the intelligence we have had that some people are trying to bring in thugs, hoodlums from the neighbouring states of Edo and Osun to come and cause problems here. We are not going to allow that to happen.

“We are working hand in hand with the military, who will take care of our borders. We are not going to allow anybody to infiltrate the state.”

A full list of President Bola Tinubu’s media aides has sparked reactions on social media. 

On Thursday, Tinubu added a new member to his list of advisers on media-related matters.

Daniel Bwala, an ex-aide to former Vice-President Atiku Abubakar, was named the special adviser on public communications and media.

Bwala’s appointment increased the number of Tinubu’s media aides to 13.

In a post shared on Thursday, 36 Kiniun, an X user, compiled a list of all the president’s media aides and their portfolios in the administration.

Many X users criticised the list and berated the administration for paying lip service to cut the cost of governance.

Obum, an X user, said all the appointees’ assignments are identical and described their role as “a waste”.

“These people do the same thing. Check their timelines all the same tweets. What a waste,” the tweet reads.

Streams, another X user, said the appointments are “unnecessary.”

“There are a lot of very unnecessary appointments here. One person can do like 3 of these roles and still have a lot of time on their hands. But appointment for here na reward, and that’s why you can see a lot of people on this street fighting to be seen,” the tweet reads.

Italian professional football club, Juventus, has terminated Paul Pogba’s contract.

The Serie A club announced this in a statement issued on Friday as the France midfielder prepares to return to action from a doping ban.

In the statement, Juventus said that they and Pogba “have reached a mutual agreement for the termination of their contract as of 30 November 2024.”

The ex-Manchester United player received a four-year suspension for using performance-enhancing drugs, but this was reduced to 18 months after he appealed to the Court of Arbitration for Sport.

Pogba, who led France to victory in the 2018 FIFA World Cup, is expected to play for a club again in March 2025.

The 31-year-old player shared a post on social media after the decision from the Serie A team.

“There are moments when things don’t go the way we want, but one thing is certain: the bond I have with you, dear fans, will remain unforgettable,” Pogba wrote on Instagram.

“You have given me so much, more than I can put into words, and I will always carry with me all the affection you gave me. You’ll be in my heart, always.
“Good luck, Juventus.”

Nigerian crossdresser, Idris Okunneye, better known as Bobrisky, has revealed that his ordeal with the Economic and Financial Crimes Commission began after accepting the best dressed female award at the movie premiere of Nollywood actress, Eniola Ajao.

Naija News recalls that Bobrisky recently faced scrutiny over allegations that he paid for special treatment while serving a jail sentence for naira abuse. Viral audio suggested that he bribed officials of the Nigerian Correctional Service (NCoS) to secure preferential conditions in prison.

The EFCC arrested Bobrisky at Murtala Muhammed International Airport in Lagos State as he attempted to board a KLM flight bound for Amsterdam.

Bobrisky’s arrest quickly made waves online when he alerted followers, sharing that he had sustained injuries in the process, saying, “Nigerians, help me, EFCC just arrested me. I’m badly injured.”

He was subsequently transported to the EFCC headquarters in Abuja, where he faced questioning over allegations of bribing EFCC officers to drop previous money laundering charges.

In a post via his Instagram page, Bobrisky stated that he would never get involved in any price or award belonging to a female.

He wrote, “My problem started from when I collected best dressed female with N1 million price. For my life if I see award for best dressed female I go disappear from that location. Everyone know the truth that I am a baddie with class, you wanna compete with me? your mummy never, but when problem wan too much, I run”

Human rights lawyer, Deji Adeyanju, on Friday, launched a scathing criticism against the Minister of the Federal Capital Territory (FCT), Nyesom Wike, describing him as a “serial betrayer.”

He also controversially remarked that Nigerian singer Portable is “better” than Wike in terms of loyalty.

Addressing journalists during a press conference in Abuja, Adeyanju accused Wike of betraying key political allies, including former President Goodluck Jonathan and former Rivers State governors Peter Odili and Rotimi Amaechi.

Wike, who was recently appointed as FCT Minister by President Tinubu, has faced scrutiny over his political maneuvers and alliances, particularly after switching allegiance from the Peoples Democratic Party (PDP) to support Tinubu’s All Progressives Congress (APC) administration.

According to Adeyanju, “Wike has never worked anywhere; from a motor garage tout he became a local government Chairman and he has been betraying people.

“The only difference between Wike and Portable is that Portable does not betray people who have helped him but Wike betrays everyone who has helped him. Wike betrayed Goodluck Jonathan, he betrayed the wife, betrayed Rotimi Amaechi, he betrayed Peter Odili and those who helped him.

“Is it Tinubu that he would not betray? Even Tinubu is not that dull, he’s politically savvy and knows. He’s just using the long spoon to deal with him, there is nothing you will do with Wike that you will be safe.”

The activist lawyer also accused the minister of deceiving and sabotaging the former Labour Party (LP) presidential candidate, Peter Obi.

“Typical Wike, just like he deceived Peter Obi, Obi kept going to him but he went behind his back to sabotage him,” he added.

This comes after Wike called out Adeyanju for criticising his demolitions in the nation’s capital.

Speaking with newsmen on Wednesday, Wike stated that Adeyanju was jobless, hence his reason for becoming an activist.

The former Rivers Governor claimed that Adeyanju came to him begging for the role of Publicity Secretary of the Peoples Democratic Party (PDP), but he turned him down.

Emotions ran high as the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, was laid to rest at the National Military Cemetery in Abuja, on Friday.

The ceremony brought together family, colleagues, and dignitaries to bid a final farewell to the late army chief.

The grief-stricken family members and colleagues struggled to contain their tears.

Even the nose mask worn by his widow, Mariya, couldn’t conceal the steady stream of tears that dropped from her eyes.

The procession began at precisely 3:00 p.m. when Lagbaja’s remains arrived at the cemetery.

President Bola Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, Chief of Defence Staff, Gen. Christopher Musa, Minister of Defence, Mohammed Badaru, and the Inspector General of Police, Kayode Egbetokun, each took turns laying wreaths at the grave.

Speaking at the event, the Chief of Defence Staff, Musa, assured Nigerians that Lagbaja’s death would inspire the military to defeat the nation’s enemies wherever they may be.

Musa stated that the military took solace in the fact that the late army chief lived a purposeful life, urging the troops to honour his memory by committing themselves to the ideals he stood for.

Musa said, “We will not leave you alone. We know your loss is immeasurable, but please take solace in knowing that he lived a life of purpose and left behind a legacy that will never fade. To my fellow officers and men, let us use this moment to recommit ourselves to the ideas for which General Labaja stood for.

“Let us ensure that his sacrifice and service continue to guide our steps as we defend this great nation. We are going to use his passing away to resolve further to defeat all enemies of the state, wherever they are, whether within or outside. As we lower him today into the embrace of the earth, let us raise our voices in prayer and gratitude for a life well lived. “

Reflecting on Lagbaja’s tenure, Musa noted that he took bold and decisive actions against terrorists, bandits, and other threats.

He said, “His tenure was marked by decisive actions against insurgency, banditry, and other threats to our nation’s peace. His efforts significantly enhanced the operational readiness and the morale of the Nigerian Army. But beyond his professional achievement, General Labaja was a man of profound faith, kindness, and humility.

“His commitment to safeguarding our nation’s sovereignty and ensuring the security of our citizens was unwavering. From his early days as a young officer to his ascension to the esteemed office of the Chief of Army Staff, General Lagbaja consistently demonstrated a rare blend of intellect, bravery, and humanity. He understood the complexities of modern warfare and the need for innovation in our strategies.

“Yet, he never lost sight of the human element, the men and women who serve under the flag and the citizens whose freedom they defend.

In his remarks, the Minister of Defence, Muhammed Badaru, said Lagbaja embodied the core values of soldiering and served Nigeria without reservation for over 30 years.

Badaru said the late army chief was not only courageous but also an inspiring leader who lived from the front, exemplifying his tedious dedication to the service of the nation.

At the event, Tinubu conferred a posthumous national honour, Commander of the Federal Republic, on Lagbaja.

Tinubu said the conferment was to appreciate Lagbaja’s service to the nation.

The President described Lagbaja as one of his best appointees.

He said, “Lagabaja was a true soldier, a general and officer who symbolised the best of his profession and whose commitment to the nation he loved was singular and undiluted.

“He was more than I could have hoped for. He was one of my best appointments. Lieutenant General Lagbaja embodied the finest ideas of a patriot and a soldier. He had an abiding faith in the capability and readiness of our armed forces to save and keep us”.

Tinubu described Lagbaja as a trusted advisor, adding that he was a man of prudent action who cared about the nation and the men who served under him.

“He displayed uncommon valor in the charge of his duty and the administration of the rank and file for he cared about their welfare and that of their families.

“For me, he was a trusted advisor whose formidable intellect and breadth of knowledge served this nation well,” he added.

The emergence of Musiliu Akinsanya, popularly known as MC Oluomo, as the National President of the National Union of Road Transport Workers (NURTW) has been invalidated by the Court of Appeal.

The ruling of the Appeal Court also affirmed Tajudeen Baruwa as the re-elected NURTW president.

Recalls the Southwest Zone of the NURTW had last week, elected MC Oluomo as the new National President.

The election was conducted during the Quadrennial Delegate Conference held at the union’s Zonal Secretariat in Osogbo, Osun State.

The ally of President Bola Tinubu has since resumed office at the union’s national secretariat in Abuja.

However, Court papers made available by Sahara Reporters on Friday show that the appellate court, in a unanimous judgement delivered on Friday, November 8, affirmed the March 11, 2024 ruling of the National Industrial Court, Abuja, on the re-election of Tajudeen Baruwa as the National President of the NURTW.

The ruling was delivered by the trio of Justice Hamma Akawu Barka, Justice Nnamdi Okwy Dimgba and Justice Asmau Ojuolape Akanbi.

In the Appeal numbered CA/ABJ/CV/293/2024 between Alh. Najeem Usman Yasin, Alh. Tajudeen Badru Agbede, Alh. Aliyu Isa Ore, Kayode Agbeyangi, Alh. Alhasan Haruna 313, Aliyu Tanimu, Alh. Hakeem Adeosun as 1st to 7th Appellants and Tajudeen Ibikunle Baruwa, Bello Adamu, Eugene Eze Job, Danjuma Saidu, Prince Isah Dahiru Uman, Suleiman Adamu, Odion Olaye J.P and Chief Herbert C. Iwuji as the 1st to 8th Respondents, the three Appeal Court judges dismissed the Appellants appeal and awarded a cost of ₦100,000 against them.

The enrolled order of the judgement obtained by the aforementioned platform shows it was signed by Deputy Chief Registrar, Judith M. Jabbe, and read by Justice Hamma Akawu Barka.

The judgement reads, “This is an appeal against the judgment/decision of the National Industrial Court Sitting in Abuja, in Suit No. NICN/ABJ/263/2023 delivered on the 11th March, 2024 by Justice O. O. Oyewumi.

“Upon Reading the Record of Appeal compiled and transmitted before this court together with the respective briefs of argument;

“And After Hearing, O. I. Olorundare, SAN with F.T Sotikare, esq) Jimoh Balogun, Esq O. D. Emole, Esq I. Yunanah Esq) for the Appellants.

“Tolu Babaleye Esq with Adeniyi Adejoke Esq, Maku Oluwatoyin Esq, B. T Ataine Esq for the Respondents; it is hereby ordered that:

“This Appeal is devoid of merit and the same is hereby dismissed.”

Recall as earlier reported by Naija News that Baruwa, who claims the title of National President of the National Union of Road Transport Workers (NURTW), has strongly opposed the inauguration of Musiliu Akinsanya, popularly known as MC Oluomo, as the new President of the union.

In a statement issued by his lawyer, Mr. Tolu Babaleye, Baruwa argued that MC Oluomo’s recent inauguration as National President disregards rulings by the National Industrial Court and Court of Appeal, both of which affirmed Baruwa as the union’s legitimate leader.

The Federal Road Safety Corps, FRSC, has dismissed the report making the rounds that it is recruiting, warning potential job seekers against falling victim to scammers.

This is contained in a statement by the Corps Public Education Officer, Olusegun Ogungbemide on Friday in Abuja.

Ogungbemide said the clarification became necessary following desperate efforts by alleged fraudsters to scam unsuspecting job seekers.

“The attention of the FRSC has been drawn to a publication by online platforms misinforming the public about ongoing recruitment of personnel into the services of the Corps.

“This medium is to let the public know that the Corps is not recruiting at the moment, nor is there any ongoing arrangement to that effect, “he said.

He quoted the Corps Marshal, Malam Shehu Mohammed, as admonishing applicants seeking to join the services of the Corps, as well as the general public to disregard the fake and misleading publications, adding that recruitment processes in the Corps had always been transparent, credible and made public.

Ogungbemide clarified that such recruitments were usually made public through advertorials and notifications on all available media platforms, including the Corps’ website, social media handles, and the National Traffic Radio.

“The public is by this publication warned to desist from any form of engagement with the purported scammers and purveyors of the misinformation as the Corps will not be liable should anyone fall victim,” he said.

Enoch Adeboye, general overseer of the Redeemed Christian Church of God (RCCG), says Nigeria’s forex rate would have spiralled out of control but for divine intervention.

The naira currently exchanges for N1,730 to a dollar.

Speaking at the Special Holy Ghost Congress in Abuja, Adeboye said his prayers, alongside those of “his people”, mitigated a free fall of the naira. 

The cleric linked the currency’s depreciation to Nigeria’s over-reliance on fuel imports despite being an oil producing nation.

He criticised monies spent on “non-functional refineries”, describing them as a strain on federal coffers and a drain on the economy.

“When you quote me, quote me accurately. We need help — divine help — not human help. If we want restoration, we must first admit something is missing,” Adeboye said.

“Before our president came in, everybody knew that the reason we were having financial problems is the fact that a lot of money was being spent to import petrol.

“How can we be importing petrol when we have this resource in abundance here?

“We spent billions of naira on our refineries, and yet they didn’t work. So, we had to keep on importing fuel,” he added.

Adeboye said the removal of subsidies initially inspired hope but provoked backlash from those profiting from the status quo.

He alleged that the cabal struck back by creating instability — a scenario that worsened the country’s economic woes and accelerated the naira’s depreciation.

“They created problems, and suddenly, the naira began to decline rapidly,” Adeboye added.

“I called on my people to pray, and many joined in. Because the way the naira was declining, if God had not intervened, by now, $1 would be about N10,000.

“But God stepped in, showing us that we need prayers.”

Nigeria has been grappling with its worst economic crisis in decades since Tinubu ended the petrol subsidy regime and floated the nation’s currency in his first weeks on the saddle.

In August, Nigerians took to the streets to protest against hunger and ballooning inflation.