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Otedola regains top spot as First Bank’s biggest shareholder

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Nigerian billionaire Femi Otedola, the Chairman of FBN Holdings, has regained his position as the majority shareholder of First Bank.

Otedola now holds a 9.41 per cent stake in the bank after acquiring N18.9 billion worth of the group’s shares on the Nigerian Exchange on June 20.

According to a corporate notice on Thursday, Otedola directly acquired 316,506,776 shares at a share price of N21.91 each, amounting to N6.935 billion.

He then acquired 546,674,034 shares at N21.97 each, amounting to N12.01 billion, through his holding company, Calvados Global Services Limited.

Otedola previously held a 7.01 per cent stake in the bank, behind Oba Otudeko’s Barbican Capital Limited, which holds an 8.67% stake.

With his acquisition of 863,180,810 shares, he increased his total stake in the group to 9.41 per cent.

Otedola’s acquisition accounted for 99 per cent of FBN Holdings’ turnover volume of 871.084 million shares on the NGX.

Femi Otedola, who rejoined the Forbes Billionaires List this year, is now the majority shareholder in two major Nigerian companies, FBN Holdings and Geregu Power Plc.

He also owns the second-largest single individual shareholding for any publicly listed bank, behind Jim Ovia’s 11.29 per cent shareholding of Zenith Bank.

The contest for the majority stake in FBN Holdings dates back to December 2021, when Femi Otedola increased his shareholding from 5.07 per cent to 7.57 per cent.

The contest for the majority stake in FBN Holdings dates back to December 2021, when Femi Otedola increased his shareholding from 5.07% to 7.57%.

Otedola in late 2021 acquired a 7.6 per cent interest in the financial services group. He displaced Tunde Hassan-Odukale to take the lead position but then held a 5.57 per cent stake according to the unaudited report of the lender for the first half of 2023.

Hassan-Odukale interests stood at 4.40 per cent at the end of the same period.

Again, in October 2023, Otedola was listed as the largest shareholder of First Bank of Nigeria Holdings Plc, despite the acquisition of 4.7 billion units of FBNH shares by the former chairman of the group, Oba Otudeko.

This was revealed in the unaudited consolidated financial statements for the period ended September 30, 2023, of the financial institution filed with the Nigerian Exchange Limited.

In February this year, the First Bank of Nigeria Holdings appointed Otedola the new chairman of its board of directors.

Sharing a picture of the announcement on his Instagram page, he wrote, “Interesting”, and added smiley and dollar emojis.”

One dead, five hospitalised as cholera spreads to Ogun 

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Ogun State has recorded its first case of cholera outbreak with the death of a 62-year-old woman in the Ijebu-Igbo area of the state.

Our correspondent gathered that the outbreak, which occurred three days ago, also left five other persons hospitalised.

The deceased, it was gathered, contracted the disease from her son, who is now among those hospitalised.

The state Commissioner for Health, Dr. Tomi Coker, confirmed the incident to our correspondent on Thursday.

Coker said 14 cases of cholera had been reported from the four local government areas of Ota, Abeokuta South, Obafemi Owode, and Ijebu North.

According to her, five other persons had also been hospitalised.

“A 62-year-old lady who contracted cholera from her sick son died in Ijebu Igbo. Five others have also been hospitalised across four local government areas of Ota, Abeokuta South, Obafemi Owode, and Ijebu North.

“The cumulative total cases since last week are 14 with one fatality,” Coker said.

She urged residents of the state to maintain good hygiene and avoid drinking water from unknown sources.

“I want to call on Ogun people to keep calm and be on the alert for anyone with the symptoms of cholera. They should report any suspected case of cholera to our disease surveillance team,” Coker said.

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Gunmen abduct pregnant woman due for delivery in Ogun

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A pregnant woman identified as Ogunbunmi Lateef has reportedly been kidnapped by armed men in Ogun State.

Ogunbunmi was said to have left her home in Oke Lantoro for the State General Hospital, Ijaiye, Abeokuta before her reported abduction.

Her husband, Ogunbunmi Lateef, was also reported to have received a WhatsApp message notifying him of his wife’s kidnap by these abductors.

Confirming the incident, on Thursday in a statement on her X handle, the spokesperson for the state police command, Omolola Odutola, said the abduction had been reported to the command.

Odutola wrote, “One Ogunbunmi Lateef of Oke Lantoro reported that his pregnant wife due for delivery left home for State Hospital Ijaiye Abeokuta.

“He received a WhatsApp message confirming the abduction of his wife by unknown armed men.”

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Army to serve Nigeria better with acquisition of aircraft

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The Chief of Army Staff, Lt. Gen. Taoreed Lagbaja on Thursday said the acquisition of new aircraft would help the Army serve the country better.

He also expressed hope that troops would overcome criminal elements threatening the peace of the country and guarantee economic prosperity for the country with the new aircraft.

Lagbaja spoke at the Nnamdi Azikiwe International Airport in Abuja while receiving two newly acquired helicopters.

According Online reports that two new Bell UH-1H helicopters touched down in the country at about 4:30 pm on Thursday.

The two helicopters are meant to be used for logistics, surveillance, training and casualty evacuation among others.

Lagbaja noted that the aircraft would give troops the flexibility needed on the battlefield.

He said, “We are on a learning curve in the aviation business. We hope it will be a pleasant experience that will give our troops flexibility in the field and enhance our operational successes.

“The Nigerian Army is poised to serve the nation better with the acquisition of these platforms. We shall overcome and give our people the enabling environment for economic prosperity. ”

Lagbaja noted that the Army had nurtured the desire to have an aviation wing since 1984, expressing delight that the dream has finally materialised with the acquisition of the two helicopters.

He said, “Aviation has always been a game changer, and that informs the decision for the Nigerian army to strive to acquire platforms towards the actualisation of the dream of having an army aviation arm since 1984.

“Today that dream has been actualised. We expect that the support that will be provided to the troops in the field with the acquisition of this utility helicopter, in terms of casualty evacuation, and the supply and insertion of troops in critical areas, will have greater flexibility and improve operational efficiency in the field. ”

The Army Chief stated that the aircraft were ready for deployment right away.

“If we have a mission tomorrow to pick one thing or the other to send logistics to any frontline location, they will be tasked accordingly. So they are deployed already.”

Speaking, the Coordinator, Nigerian Army Aviation, Brigadier General M.S Alkali said the helicopters would strengthen the Army’s reconnaissance, surveillance, and air mobility capabilities.

He said, “The acquisition of these air platforms is a clear demonstration of our resolve to continuously improve and adapt in the face of evolving security landscapes. These platforms will significantly bolster the NA’s reconnaissance, surveillance, and air mobility capabilities, thereby enhancing our overall operational effectiveness.

“As we integrate these platforms into our operations, let us also remember that the true strength of our aviation lies in the skilled and courageous personnel who operate and maintain these machines. Their professionalism, dedication, and expertise are the bedrock upon which our success is built.”

Police arrests five suspected kidnappers, car snatcher in Kaduna

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Police operatives in Kaduna have arrested five suspected Kidnappers and one suspected car snatcher in the state.
The spokesman for the state police command, Mansir Hassan confirmed the arrest in a statement on Thursday in Kaduna.
He said: “On June 15, at about 18:10 hours, the Divisional Police Officer (DPO) of Maigana received intelligence from a concerned citizen regarding a group of kidnappers planning to collect ransom money from the relatives of their victim.
“The DPO acting swiftly mobilized his patrol team and some members of the local vigilante group to the location.
“The operation resulted in the successful arrest of the suspects, Shuaiabu Bala, 23, from Malanta, Gimba Village, and Safinu Musa 22, from Bugau Village, Anchau, Kubau Local Government Area (LGA) of the state.”
He said investigations are ongoing to apprehend other members of the kidnapping gang.
“However, a significant breakthrough in fighting kidnapping was made on June 17 with the arrest of three other suspected kidnappers.
“Acting on credible intelligence received by the Divisional Police Officer (DPO) of Tafa, it was reported that some suspected kidnappers were sighted roaming around Tafa Town.
“At about 1700 hours, the DPO immediately mobilized and led a surveillance team, in conjunction with the Civilian Joint Task Force (JTF) of Tafa to the scene.
“As a result of this swift action, three suspected kidnappers were arrested and brought to the station.
“The suspects have been identified as Sani Amadu 17, Sani Lawal, 20, and Aliyu Usman 22, all residents of Dadin Kowa, Tafa LGA of Niger State.
“During the investigation, incriminating evidence, including pictures and videos of banditry activities, was discovered on their cell phones.
” Upon completion of the preliminary investigation, the case will be transferred to the Anti-Kidnapping Unit for further action,” the spokesman added.
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England draw Denmark, Spain to battle Italy for last 16 place

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England struggled to show their credentials to win Euro 2024 in a 1-1 draw with Denmark that left them with work to do to reach the last 16, while Spain and Italy will battle it out to reach the knockout stages later on Thursday.

Victory for England in Frankfurt would have booked their place in the next round as Group C winners.

However, an underwhelming performance by Gareth Southgate’s men leaves more questions over their quest to becoming European champions for the first time.

In a rematch of the Euro 2020 semi-final won by England, it was Southgate’s men who got off to a perfect start when Harry Kane slotted home after Kyle Walker caught Danish defender Victor Kristiansen napping.

Denmark, though, were well worthy of at least a point and got it thanks to a spectacular strike by Morten Hjulmand before half-time.

Phil Foden hit the post for England and Denmark’s Andreas Christensen came close to a late winner in the second half.

But a share of the spoils leaves it all to play for in the final games of Group C on Tuesday.

Earlier, Luka Jovic snatched a point for Serbia in the 95th minute to hold Slovenia 1-1.

Zan Karnicnik headed Slovenia in front 21 minutes from time.

But Serbia kept their fate of reaching the last 16 in their own hands when AC Milan striker Jovic headed in a corner with virtually the last action of the game.

England top the group on four points, two clear of Denmark and Slovenia, and just need a draw when they face Slovenia in Cologne to qualify.

Spain, Italy go for last 16 –

Gelsenkirchen plays host to one of the most-highly anticipated clashes of the group stage later as the winners of three of the last four Euros go head-to-head.

Spain’s mix of precocious youth and experience shone in a dazzling 3-0 win over World Cup semi-finalists Croatia to get their campaign off to a flying start.

Italy had to fight back after conceding the fastest goal in the competition’s history to beat Albania 2-1.

Victory for either side will guarantee progress to the knockout stages as group winners and avoid the possibility of facing England in the quarter-finals.

The countries have met in each of the last four Euros – Italy emerging victorious in the last two after Spain won on their route to glory at Euro 2008 and 2012.

“The players will understand when they get to my age that they’ll want to have stories to tell,” said Italy coach Luciano Spalletti.

“This is one of those matches that gives them the chance to create that story.”

Spain’s more direct style was notable in their victory over Croatia as La Roja won comfortably despite having less possession than their opponents for the first time in 136 competitive matches dating back 16 years.

“It’s almost like we’re looking in a mirror actually,” said Spain coach Luis de la Fuente of the sides’ similar styles.

“We are a growing, developing team which is working on cohesion and consistency and so are they. I think it will be a very high quality match.”

Masked Mbappe –

France take on the Netherlands in one of the other marquee games of the group stage on Friday.

Kylian Mbappe’s participation in that match in Leipzig remains uncertain after the France captain broke his nose in Les Bleus’ opening 1-0 win over Austria.

However, Didier Deschamps is hopeful of having Real Madrid’s new signing available after Mbappe trained in a mask inspired by the colours of the French flag on Thursday.

“Things are progressing in the right direction enough for us to try to have him available tomorrow,” said Deschamps.

AFP

Gunmen kill PoS operator, rice seller in Ekiti

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Gunmen on Thursday killed a Point of Sales operator in the teaching hospital area in Ado Ekiti, the Ekiti State capital.

The assailants also shot dead a wheelbarrow pusher hawking rice at the Oja Bisi area of the state capital on the same day.

Sources said that the gunmen, who came on a motorbike, shot the PoS operator and made away with his money and other valuables.

The source, who was familiar with the matter, said, “The PoS operator had just arrived for the day’s business when the gunmen attacked him and left him in a pool of his blood.”

The source also said that the police officers who arrived at the scene shortly after took the body of the PoS operator to the hospital.

Sources also said that gunmen on a motorbike shot dead the rice hawker in the market area.

Another source said, “Traders were shocked and had to flee for safety. The development forced traders and passersby to flee for safety.”

The Ekiti Police Command Public Relations Officer, Sunday Abutu, who confirmed the incidents, said, “Immediately we got the information, we deployed our men to the scenes, the body of the victims had been recovered to the morgue.

“The Commissioner of Police, Ekiti State Command, Mr Adeniran Akinwale, has ordered an investigation into the incidents so that those who perpetrated the incidents can be brought to book.”

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‘We’ll get there,’ says Kane after England splutter in Denmark draw

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Harry Kane insisted England will find the right formula for Euro 2024 success despite their lacklustre display in Thursday’s 1-1 draw against Denmark.

Gareth Southgate’s side would have qualified for the last 16 as Group C winners if they had defeated the Danes in Frankfurt.

England captain Kane gave them the perfect start with a clinical close-range finish from Kyle Walker’s deflected cross in the 18th minute.

But England lost their momentum after that and Denmark drew level after 34 minutes when Morten Hjulmand blasted a superb 30-yard drive past Jordan Pickford.

It was hardly the kind of display that will strike fear into England’s rivals, with the incoherent effort coming after they were fortunate to escape with a 1-0 win against Serbia in their group opener last weekend.

But Bayern Munich striker Kane is adamant England will eventually fire on all cylinders.

“I think we said before the tournament there’s no easy games and I think that’s showing,” he said.

“We’ve got levels we can reach and we can be better both with and without the ball.

“The sign of a good team is when you’re not playing at your best and still find a way to get results like we have in the last two games.”

England are still on course to reach the last 16 as they sit top of the group with four points heading into their last game against Slovenia.

But they will want to win the group, which would likely ensure an easier draw in the last 16.

Former England players including Alan Shearer and Rio Ferdinand were scathing in their criticism of the Three Lions’ latest limp showing in Germany.

While Kane acknowledged there would be doubters after the performance, he expects England to ride out the storm.

“We’re top of the group. We know we can improve. I know there will probably be loads of noise and a bit of disappointment back home.

“We experienced this in the last Euros as well when we drew to Scotland. Step by step, we’ll get there.”

AFP

Protesters ask Tinubu to stop planned diversion

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Residents of the Okun Ajah community in Lagos State have oppossed what they described as the proposed diversion of the Lagos-Calabar Coastal Highway.

They registered their displeasure with a protest at the Federal Ministry of Works headquarters in Lagos State on Thursday.

The residents, despite heavy rainfall, gathered to decry what they perceive as preferential treatment by the Minister of Works, David Umahi.

Brandishing placards with messages such as “Illegal construction on the right of way should not be encouraged” and “You promised us renewed hope; don’t punish us,” the protesters called on President Bola Tinubu and the National Assembly to investigate the diversion plans.

The protesters demanded adherence to the original road alignment established in 2006.

Some other placards read, “Lagos State has a master plan”; “Honourable Minister, no ethnic sentiment”; and “Keep to your words; You promised us renewed hope”; among several others.

According to the protesters, the minister promised the residents on national television that the old gazetted alignment of 2006 would be taken into consideration.

Speaking during the protest, the Akogun of Okun Ajah, Saeed Olukosi, described the planned diversion of the road in only Okun Ajah as a miscarriage of justice.

The community leader said, “Already, the houses that were built on the coastal road alignment had been identified and marked for demolition.

“But surprisingly, some days ago, the construction workers diverted to an entirely new area and started marking houses.

“We are shocked that the moneybags who violated the law by building illegally had gone to bribe some workers, and they left illegal buildings and diverted to our buildings, which we legally built.”

Olukosi maintained that the protest was necessary because Tinubu and the presidency may not have been aware of this latest development, hence, the protest at the ministry.

“We understand that the presidency may not be aware of the illegality. That’s why we have come to notify them of these peaceful protests at the Federal Ministry of Work office in Lagos.

“The minister promised us to do the needful and administer justice. Let him investigate what we are saying and give us justice. This administration promised us renewed hope, so he should give us hope and not punish us,” he added.

Counsel for the residents of the town, Bolanle Olugbani, said, “We are here to protest the planned diversion in the right way.

“He (Umahi) assured us that the Federal Government would adhere to the old gazetted alignment.

“For over 30 years now, everyone buying land at Okun Ajah Community knows that a coastal road will pass through the community at some point in the future.”

He added that they had conformed to the law, but some moneybags bought the property from the designated coastal road alignment.

“Lagos State had gazetted not to build on a coastal road; the minister is not above the law.

“The law today says the old alignment is where the coastal road should pass. The minister also said it at the stakeholder meeting.

“No amount of money and tribal sentiment should sway in. The minister knows what to do. The minister must not change from the old alignment,” he maintained.

Comptroller reacts

However, the Federal Comptroller of Works, Lagos, Mrs Olukorede Kesha, who received the protesters, assured them that the minister was ready to look into their complaints.

She stated, “The minister has demonstrated several times that he is a listening person, and the government is also listening. The minister is not afraid to come to Lagos to see you again.”

“In fact, I have told him about you. He was in Lagos last Saturday, and he wanted me to call you on Sunday, but because of the Sallah festival, I told him you people would not come out and that we have to respect that day, and he said, ‘Okay.’”

She added, “I told him you are complaining and he promised to come back in a week, and I will invite you to bear your mind to him. He doesn’t look down on people; it’s impossible to please everyone.”

Kesha added that “nobody is saying justice should not be done. Whenever he comes, tell him what you want, and he will go back to the drawing board.”

Also speaking, a landlady in the town, Mrs Maimuna Usman-Ologunro, said, “We all heard him at the stakeholder meeting, where he said that the road would pass through the gazetted alignment.

“Why did his men come back to our community to mark our buildings, which are not built on the coastal road alignment?”

“The minister should be a man of his word. He cannot continue to take us from one post to another; we have an alignment. We have the 2006 alignment during the regime of President Bola Tinubu when he was governor of the state.”

“We bought our land and have our documents intact. I cannot lose my property for another person’s offences. We knew already that something was ongoing; that was why we are all here.”

Recall on June 15, the FG said it was withholding payment of compensation to affected property owners from Kilometer Seven on the Lagos-Calabar Coastal Highway project, due to alteration to the plan.

Umahi said this when he inspected ongoing works on Lagos-Calabar Coastal Highway and other road projects on the Lekki Free Trade Zone, Dangote Tax Credit Route and Eleko, among other axis, on Saturday in Lagos.

FERMA rehabilitates collapsed twin bridges in Ebonyi

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A collapsed twin bridge and road along the ever-busy Abakaliki-Enugu Highway have been rehabilitated by the Federal Roads Management Agency, FERMA, in Ebonyi State.
The dead trap portion of the highway for a year now has been a nightmare to motorists and other road users.
The area, located very close to the popular Ukwuachi on the expressway, almost became impassable, with accidents and robbery incidents occurring daily.
Akinyemi Ojo, Maintenance Engineer of FERMA, Ebonyi State Field Office, noted that the route became life-threatening following a washout on the road.
“We have repaired the washout, made provision for the retaining wall, and filled back the eroded place. We did our work there, and we have asphalted the place.
“We have about two projects in that particular place. There is a spot on the road where people are having accidents on that bridge. So, we have been able to fill this pothole on that road,” he said.
Ojo stated that FERMA will commence another rehabilitation work on another section of the Abakaliki-Enugu highway that was constructed with concrete, which has also become life-threatening for motorists and other road users.
“We are commencing another one on that same Abakaliki-Enugu highway. We have some patching on the concrete road that was constructed some years ago. There is an area that develops a fault. We are now attending to that road,” he said.
He decried the state of many federal roads in the state, including Okposi-Nara Road, Abakaliki-Oferekpe Road, Oso Edda-Abia State Border Road, Nguzu-Ohafia Abia State Road, Ishiagu Mile 2 Abia State Border Road, and Afikpo-Okigwe Highway, among others.
He explained that FERMA has reported the roads to the federal government for urgent attention to save motorists and other road users from untold hardship.
FERMA rehabilitates collapsed twin bridges in Ebonyi