News
FCMB targets UK retail licence


Leading Nigerian bank FCMB is seeking to convert its wholesale banking unit in Britain, FCMB UK, into a retail bank, as part of its push to grow its balance sheet and tap into non-institutional customers in Britain.
The bank’s group chief executive, Mr. Ladi Balogun, disclosed this in an interview with Reuters. He said the impact of the British strategy would not be immediate but would enable the lender to achieve incremental growth.
Balogun said the earnings contribution in naira terms from the British unit will be around 500 million naira ($1.64 million) for 2018. FCMB UK grew pre-tax profit by 250 percent to 300 million naira last year. “We’ve decided to slow down right now on asset growth and focus more on changing the mix of the asset and getting out some of the low margin upstream oil and gas business,” he said.
Balogun said that FCMB expects loan growth to be flat this year – down from last year’s 5.4 percent rise – as oil companies pay down debt.
He said the bank would focus on retail banking with a higher margin this year to make up for a drop in government bond yields as the lender may not be able to write large loans quickly enough to counter-balance repayments by oil firms.
The FCMB Group CEO said the economy was improving after Nigeria experienced its worst recession in a quarter of a century in 2016, which should boost consumers.
“We expect to see large repayments in the oil and gas sector this year. We agree that the (economy) will be improving but largely because of chunky paydowns, we don’t think we would be able to replace those quickly,” he told an analyst call.
“We are pushing more in the area of retail banking.”
FCMB group posted a 29.5 percent drop in 2017 pretax profit to 11.46 billion naira on Wednesday.
Balogun said the bank booked a 50 percent impairment of 2.3 billion naira on loans to debt-laden 9mobile, which is in talks with investors to take over the telecoms firm.
He said the bank expects non-performing loans to rise in the course of the year but would be within a regulatory target of five percent.
FCMB does not see a need to raise funds this year due to high funding costs, especially for borrowing in dollars, and would maintain a conservative dividend policy to improve its capital position.
Banking sources told Reuters last month that FCMB was among several lenders considering selling a Eurobond this year.
Shares in FCMB, which are up 62 percent so far this year, dropped 2.08 percent to 2.35 naira on Friday.
News
Mbah to NBA: “Law, the Conscience of the Nation, Justice Sector Reform, a Cornerstone of Our Administration”
By ORJI ISRAEL


Governor of Enugu State, Dr. Peter Mbah, has reminded lawyers that the law is more than a profession, as it serves as the conscience of the nation.
Mbah, who spoke during the opening of the 2025 Annual General Conference, AGC, of the Nigerian Bar Association, NBA, at the International Conference Centre, Enugu, on Sunday, also restated the commitment of his administration to justice sector reform, saying that it remained the cornerstone of his government.
“Let me say this: the theme of this year’s conference, ‘Stand Out, Stand Tall,’ is a timely reminder of the responsibility we bear as lawyers and leaders. The law is not just a profession – it is the conscience of the nation. We are not only courtroom advocates; we are also defenders of truth, architects of peace, and champions of equity,” he said.
Listing some concrete steps by his administration towards justice sector reform, the governor said, “Since assuming office, we have made justice sector reform a cornerstone of our governance. Just a few examples will suffice.
“We were among the first states to fully implement financial autonomy for the judiciary in line with Section 121(3) of the 1999 Constitution (as amended). This has enhanced the efficiency, independence, and dignity of our courts.
“We have carried out a comprehensive rehabilitation and digitization of our courtrooms across the three senatorial zones. The High Court Complex in Enugu is equipped with e-filing, virtual hearing facilities, and an integrated case management system.
“To decongest our courts and promote alternative dispute resolution, we have strengthened and expanded the Enugu Multi-Door Courthouse, making it a model in the region for commercial and family dispute settlement.
“Through partnership with civil society and the NBA, we have expanded access to pro bono legal services for indigent citizens and detainees, especially in our rural areas. No one should be too poor to afford justice.
“We have also carried out an extensive codification and review of obsolete state laws to reflect modern realities, ensure gender justice, and promote the ease of doing business in Enugu.
“Perhaps one of the reforms I am proudest of – we introduced real-time transcription for our courts. Attaining Verbatim Reporting for the courts has eliminated the strain of longhand recording on judges, cut down on delays and improved productivity,” he said.
He, however, asserted that none of the reforms was an end in itself, noting that they remained part of a broader vision of his government towards making Enugu State the preferred destination for investment, innovation, and inclusive development.
“From smart schools, safe communities to accessible healthcare – our vision cannot be achieved without a justice system that is fair, functional, and trusted,” he added.
The opening ceremony was chaired by the Sultan of Sokoto, His Eminence, Dr. Sa’ad Abubakar III, while the keynote address was given by charismatic leader of the Economic Freedom Fighters of South Africa and a member of country’s national parliament, Julius Malema.
News
70% of Christians killed in 2024 are African – Group
ORJI ISRAEL reports that the group accused ANC of maintaining silence on religious persecution, while deepening ties with ideological extremists in Tehran


Recent reports indicate that over 4,400 Christians were murdered for their faith last year, while over the past decade, jihadist violence has driven 16 million Christians from their homes, millions of which are African citizens.
This is according to global Christian charity, Open Doors, which also confirms that for every five Christians, one will face persecution in Africa specifically.
Open Doors’ 2025 World Watch List reveals the top 10 most dangerous countries for Christians are dominated by Islamic states in the Middle East and Africa, including Afghanistan, Pakistan, Iran, Yemen, Sudan, Somalia, Libya, and Nigeria. A more detailed UK Parliament briefing recently noted that 70% of Christians killed in 2024 were indeed in Africa.
Over the last six months, the brutality against Christians in Africa has escalated to alarming levels, with a series of devastating attacks across the continent. Just last month, ISIL-affiliated rebels stormed a Catholic church in Komanda, DRC, murdering close to 50 worshippers, including women and children. That same month in Mozambique, Islamic State fighters captured and beheaded six Christians from Natocua village, just across South Africa’s border. A month earlier, in June 2025, armed militants in Nigeria massacred nearly 200 Christian civilians in Yelwata village.
“What we are witnessing is not random violence or isolated attacks. It is a deliberate, coordinated campaign by jihadist networks to wipe Christianity from vast regions of Africa and the Middle East,” says SAFI spokesperson, Bafana Modise. “These acts of terror are the early stages of a genocide against Christians, and history will record who spoke out and who shamefully looked away. Tragically, the ANC has chosen the latter.”
This silence is even more damning in light of last week’s news that South Africa’s military chief, Gen. Rudzani Maphwanya, met with Iranian Maj. Gen. Amir Hatami in Tehran to discuss deepening military and strategic ties, when Iran remains one of the world’s most notorious persecutors of Christians.
A recent report by the Middle East Africa Research Institute (MEARI) warned that Pretoria’s deepening ties with Tehran has compromised South Africa’s democratic foundations by defending Iran at the UN and IAEA, downplaying its human rights abuses, and potentially benefitting from covert support, including speculation around the ANC’s repayment of a multi-million-rand debt shortly after filing the ICJ case against Israel.
“These atrocities are not just crimes against individuals; they are part of a war against the freedom of religion itself,” Modise warns. “This is religious genocide, and it is gaining momentum as it edges closer to South Africa’s borders.”
Instead of defending religious freedom, the ANC government has remained silent. It has issued no meaningful condemnation or rallying call to protect persecuted Christians: “The ANC has done nothing to defend the rights of Christians,” says Modise. “Instead, it has squandered South Africa’s moral standing on discredited genocide charges against Israel – the one country in the Middle East where Christians live in safety and equality.”
This betrayal is even more unforgivable in a nation where 80% of South Africans identify as Christian. Freedom of religion is a fundamental human right, but the ANC, once the global champion of human rights, has made its bed with regimes and groups that have used Islamic law to suppress and destroy those freedoms.
“The ANC’s alliances make it clear: they have abandoned South Africa’s Christians, choosing friendship with the very forces driving this campaign of genocide,” Modise concludes. “Silence in the face of such evil is complicity, and the ANC is guilty of both. They have aligned themselves with Jihadist Islamic ideology, without further thought.”
We call on every pastor, every congregation, and every believer to demand that the ANC account for its indifference and betrayal. The blood of persecuted Christians cries out from across the African continent. If South Africa will not stand with them now, the day may come when their fate becomes our own.
News
Government Should Support Media with Tax Incentives, Relief on Import Duties – Soneye
….Media Sustainability: Soneye Advocates Tax Reliefs, Independent Fund for Journalism


Former Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mr. Femi Soneye, has called on the Federal Government to support the Nigerian media with targeted incentives, including tax reliefs and import duty waivers on essential media tools.
Soneye made the appeal in Abuja on Tuesday after receiving the NUJ FCT Excellence in Corporate Communications Award, conferred on him by the Nigerian Union of Journalists (NUJ), FCT Council.
The NUJ leadership, led by Chairperson Grace Ike, alongside the Deputy Chair, Secretary-General, and other executives, described Soneye as a consummate professional who has distinguished himself with tact and excellence in the communications field.
In his remarks, Soneye noted that while the Nigerian media remains one of the most vibrant in Africa, it continues to grapple with systemic challenges that weaken its effectiveness.
“The Nigerian media remains one of the most vibrant in Africa, but it also faces systemic challenges, financial, political, legal, and technological that weaken its effectiveness. The government can play a supportive role by granting tax incentives or relief on import duties for newsprint, broadcast equipment, and digital infrastructure,” he said.
He also urged the Federal Government to establish an independent media development fund to support investigative journalism, community radio, and newsroom innovation, drawing parallels with models in South Africa, the United States, and Canada.
The award underscores Soneye’s long-standing contributions to journalism and corporate communications, as well as his advocacy for a stronger, independent, and sustainable Nigerian media.
-
Finance3 days ago
Tinubu Launches Personal Income Tax Calculator to Improve Compliance, Fairness
-
News3 days ago
70% of Christians killed in 2024 are African – Group
-
News4 days ago
Government Should Support Media with Tax Incentives, Relief on Import Duties – Soneye
-
Hospitality3 days ago
Excitements in Enugu as Gov Mbah Unveils Reconstructed Hotel Presidential
-
Hospitality3 days ago
Gov. Mbah and the Rebirth of Hotel Presidential
-
Business1 day ago
Lagos Mainland Trade Fair set to take place next month
-
Agriculture3 days ago
Niger State to End Direct Supply of Live Cows, Launch Meat Processing for Southwest Markets
-
Transport1 day ago
August24news Publisher, Ajagbe, Set to Present Best Driver and Best Conductor of The Year Awards