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CBN Dissolves Boards Of Four Banks

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The Central Bank of Nigeria (CBN) has dismissed the boards of Union Bank, Polaris Bank, Keystone Bank, and Titan Trust Bank.

During a meeting held on Wednesday, January 10, the boards of directors and chief executives of these banks received a 30-minute briefing from Phillip Ikeazor, the Deputy Governor responsible for Financial System Stability at the apex bank.

The panel addressing the bank executives comprised three additional governors: Emem Usoro, in charge of Operations; Muhammad Abdullahi, overseeing Economic Policy; and Bala Bello, handling Corporate Services.

The boards of the affected banks were formally dismissed by a panel that outlined instances of non-compliance and infractions committed.

This action followed a recent report from Jim Obazee, the Special Investigator on Central Bank of Nigeria (CBN) and Related entities.

Before this decision, investors associated with Titan Trust Bank were invited by a special investigator appointed by President Bola Tinubu.

However, reports indicate that these investors declined to attend the meeting with the Special Investigator.

The apex bank, in a statement on Wednesday, confirmed these events, referencing Section 12(c), (f), (g), and (h) of the Banks and Other Financial Institutions Act, 2020.

The statement by CBN’s Acting Director of Corporate Communications, Sidi Hakama, reads “The Central Bank of Nigeria (CBN) has dissolved the Board and Management of Union Bank, Keystone Bank, and Polaris Bank.

“this action became necessary due to the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of Banks and Other Financial Institutions Act, 2020.

“The Bank’s infractions vary from regulatory non-compliance, corporate governance failure, disregarding the conditions under which their licenses were granted, and involvement in activities that pose a threat to financial stability, among others.

“The CBN assures the public of the safety and security of depositors’ funds and remains resolute in fulfilling its mandate to uphold a safe, sound, and robust financial system in Nigeria. Our Banking system remains strong and resilient.” It added

 

 

 

International News

Turkish Airlines Resumes Flights To Damascus After 13-Year Hiatus

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Erdogan To Be Inaugurated Third Time As Turkish President

In a historic move, Turkey’s national flag carrier, Turkish Airlines, has resumed flights to the Syrian capital Damascus after a 13-year suspension.

The first flight, carrying 349 passengers, departed from Istanbul International Airport on Thursday morning, according to Turkey’s state news agency Anadolu.

The resumption of flights marks the end of a pause dating back to April 2012, when the airline suspended operations due to the onset of the Syrian civil war.

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The decision comes as relations between the two nations improve and reflects a growing trend of Syrians returning to their homeland after years of displacement.

Turkey, which hosts approximately 3 million Syrian refugees—the highest number worldwide—has witnessed many Syrians preparing to return home.

Anadolu reported that several passengers on Thursday’s flight were traveling to Syria for the first time in over a decade.

“I feel like I’m in a dream,” said Ahmet Kiraz, a passenger who had lived in Turkey since 2012. Kiraz expressed his disbelief at finally being able to return home, a moment he had thought might never come.

Images from the scene showed travelers boarding the plane with the Syrian flag draped across their shoulders, a symbol of both pride and a longing for their homeland.

Turkish Airlines announced plans to operate three flights per week to Damascus, with further details expected to be disclosed later in the day.

 

 

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Turkish Model Arrested Over Plan To Sleep With 100 Men In 24 Hours

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A 23-year-old Turkish OnlyFans model, Ezra Vandan, also known as Azranur AV, has been detained in Istanbul for publicly announcing her plan to engage in sexual activity with 100 men within 24 hours.

The announcement, made on social media, sparked outrage and led to her arrest by the Istanbul Security Branch Directorate’s Morality Bureau.

Vandan had shared her intentions on January 14, 2025, posting a photo of herself in red lingerie with the caption: “My goal is to break a Turkish record first, then a world record! I’m starting with 100 men in 24 hours.”

She reportedly planned to live-stream the event, which was widely criticised as “obscene” and “damaging to societal morals.”

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According to reports, the post drew the attention of authorities, who initiated an investigation and apprehended her while she awaited a cosmetic surgery operation in Atasehir. Footage captured her being escorted down the stairs of a hospital by female officers, her wrists bound behind her.

In a controversial twist, Vandan allegedly uploaded a revealing image taken during her arrest by a police officer, captioning it, “I had the photo taken by one of the officers, he didn’t object much.”

Her husband, Pedram Behdar Vandan, 25, was also briefly detained but later released.

The Istanbul 6th Criminal Judgeship of Peace has charged Vandan with obscenity, resisting an officer on duty, and slander, stating that her actions and posts were “damaging to moral values” and “provocative to society.”

Defending herself in court, Vandan argued that her posts were personal and did not harm anyone. “I do not deserve to be judged,” she said.

The case has reignited debates in Turkey about personal freedom and societal values.

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Train Accident In Maharashtra Claims 11 Lives After Panic Over Fire Alarm

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Eleven passengers tragically lost their lives on Wednesday in Maharashtra, India, after jumping off a moving train amid fears of a fire, only to be struck by an oncoming train.

The incident occurred in Jalgaon district, approximately 400 kilometres from Mumbai, and has once again highlighted safety issues in India’s extensive railway network, which serves millions of passengers daily.

Ayush Prasad, a senior district official, confirmed the fatalities and stated that five other passengers are receiving medical treatment. “People were run over by a train,” he said, without clarifying if the fire alarm was genuine or false.

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According to a spokesperson for Indian Railways, the chaos began when someone activated the “alarm chain” on the Mumbai-bound train, prompting several passengers to disembark. Tragically, they were struck by a train traveling in the opposite direction.

India’s interior minister, Amit Shah, expressed his grief over the incident, saying, “Deepest condolences to the families of those who lost their lives in this accident.” Maharashtra’s chief minister, Devendra Fadnavis, described the tragedy as “deeply disturbing” and said he was “deeply saddened by the tragic loss of lives” in a post on X (formerly Twitter).

Despite efforts to modernise the railway infrastructure with a $30 billion investment aimed at improving safety and connectivity, accidents remain a significant concern. Official records indicate that an average of 20,000 people died annually in rail-related accidents between 2017 and 2021.

In 2023, one of the country’s deadliest rail disasters claimed nearly 300 lives when a passenger train collided with a stationary goods train, leading to further collisions.

India continues to grapple with balancing its rapid economic growth with ensuring the safety of its ageing railway network.

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