NEWS
JUST IN: Access Bank Buys Standard Chartered Bank’s Subsidiaries In Five African Countries
Subject to regulatory approvals in the respective countries, Standard Chartered Bank and Access Bank Plc have entered into agreements for the sale of former’s shareholding in its subsidiaries in Angola, Cameroon, The Gambia, Sierra Leone, and Tanzania.
This was contained in a statement issued on Friday, on London, at Standard Chartered’s headquarters, in the presence of senior representatives from both banks.
Biztellers reports that the agreement was signed by Regional CEO, Africa & Middle East, Standard Chartered, Sunil Kaushal, and the Group Managing Director, Access Bank Plc, Roosevelt Ogbonna.
According to the United Kingdom based lender, the agreement with Access for the sale of the bank’s business in Sub-Saharan Africa was in line with Standard Chartered’s global strategy, aimed at achieving operational efficiencies, reducing complexity, and driving scale.
With the development, Access Bank will provide a full range of banking services and continuity for key stakeholders including employees and clients of Standard Chartered’s businesses across the five aforementioned countries.
Access Bank and Standard Chartered will work closely together in the coming months to ensure a seamless transition, with the transaction expected to be completed over the next 12 months.
On the agreement, Kaushal, said, “Following on the announcement we made in April last year, the project is now substantially completed with the announcement for the sale of the five markets and the furtherance of a partnership with Access Bank.”
“This strategic decision allows us to redirect resources within the AME region to other areas with significant growth potential, ultimately enabling us to better support our clients. We look forward to working closely with Access Bank’s team over the coming months to achieve a successful conclusion to this transaction while safeguarding the interests of our valued clients and prioritising our employees”.
In the same vein, Ogbonna said, “We are pleased to sign this agreement today and express our appreciation for being selected as the preferred partner to Standard Chartered through this transaction, in which it is exiting four African markets and refocusing in one.
“As a distinguished regional and international bank with a rich heritage spanning over 150 years, Standard Chartered Bank has built a solid presence in these markets for over 100 years.”
For Access Bank, the transaction represents a key step in its journey to build a strong global franchise focused on serving as a gateway for payments, investment, and trade within Africa and between Africa and the rest of the world, anchored by a robust capital base.
Ogbonna added, “At Access Bank, we are committed to reshaping the global perception of Africa and African businesses, even as we continue to build toward our vision to be the World’s Most Respected African Bank. Our five-year growth plan will see us build a world-class class payments gateway leveraging the power of technology and a robust network of relationships across our operating countries. This will be supported by a dynamic ecosystem of local and international partnerships, enabling us to serve global payments and remittances efficiently.
“With our recent European expansion and our deepened presence in key trading corridors across Africa, we will bridge the gap between cross-border and domestic transfers across all business segments. More importantly, we are committed to impacting our host communities positively.”
In April 2022, Standard Chartered decided to divest from a number of markets, namely Lebanon, Angola, Cameroon, Gambia, Sierra Leone, Zimbabwe, and Jordan, and to exit the CPBB (Consumer Private and Business Banking) business in Côte d’Ivoire and Tanzania.
The bank announced the sale of its business in Zimbabwe earlier in June and in Jordan in March this year.
With this announcement, Standard Chartered has completed the divestment process from the markets announced in April 2022, except Côte d’Ivoire where it remains actively engaged in discussions with potential buyers for the sale of its CPBB business in the country.
The Kano State Police Command has warned residents of a potential terror attack, targeting public gatherings in strategic locations across the state.
In a statement issued on Friday, the command’s Public Relations Officer, SP Abdullahi Haruna, disclosed that intelligence reports indicated suspected terrorists were planning to carry out attacks.
“The Kano State Police Command, in liaison with other security agencies, has received intelligence reports of suspected terrorists planning to launch attacks on public gatherings in strategic locations within Kano State.
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“In response, we hereby urge residents to exercise caution and avoid crowded places and environments until further notice as a preventive measure to enable security operatives to identify and dislodge possible attackers,” the statement read.
To address the threat, the police command has enhanced security arrangements across the state. SP Haruna revealed that specialized units, including the Explosive Ordinance Disposal (EOD) and the Chemical, Biological, Radiological, and Nuclear (CBRN) teams, have been deployed to strategic locations and are on high alert.
“A team of experts from the command’s Explosive Ordinance Disposal, Chemical, Biological, Radiological, and Nuclear units have been deployed to strategic locations and are on high alert.
“The unit can be contacted through: 08169884988 or 07067157218 for report of suspicious persons or item(s),” Haruna stated.
Residents have been urged to remain vigilant and report any suspicious activities to the nearest police station or contact the command through the designated hotlines.
“The command remains committed to protecting lives and properties as well as maintaining law and order in Kano State.
“We appreciate the support and cooperation of the good people of Kano State and urge everyone to remain vigilant. Your vigilance and cooperation are crucial in ensuring public safety,” the statement concluded.
NEWS
Ifon-Ilobu-Erin Osun Land Disputes: Osun Constitutes A 100-Member Boundary Resolution Committee
In the bid to resolve the incessant land disputes between the communities of Ifon, Ilobu and Erin Osun, the Governor of Osun State, Senator Ademola Adeleke has constituted an enlarged 100-member high powered land crisis resolution committee in which each of the affected communities has 25 representatives, and the state government represented by 25 members.
The Osun State Commissioner for Information and Public Enlightenment, Oluomo Kolapo Alimi made the disclosure in a statement in Osogbo, on Friday.
He revealed that the Ataoja of Osogbo land, Oba Jimoh Adetunji Olanipekun Larooye is the Chairman of the Committee, while a retired judge of Osun State Judiciary and Chairman, Osun State Boundary Commission, Justice Moshood Adekunle Adeigbe, would serve as the Co-Chairman.
According to Alimi, Gov Adeleke put in place the Committee with a view to bringing a lasting end to the incessant land disputes among the three affected communities.
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It was gleaned from the statement that there were four other traditional rulers on the panel, including His Royal Majesty; Oba Abioye Oyebode, the Olokuku of Okuku, His Royal Majesty; Oba Adams Iyiola Bamidele Yusuf, the Oloba of Oba Oke, His Royal Majesty; Oba Adekeye Oyedare, the Oloyan of Oyan and His Royal Majesty, Oba Akeem Ogungbamgbe,The Owaloko of Iloko-Ijesha.
Other members are Umar Abba Mohammed, Osun State Commissioner of Police, Ayoola Kehinde, Osun State Director, Department of State Services( DSS) Brigadier General, Aliu Mohammed, Commander E.C.C, Ede, Sotiyobo Igbalawola, Osun State Commander, Nigeria Security and Civil Defence Corps( NSCDC), Anthony Chikezie, Commander, Immigration Service, Osun State, Adekunle Omoyele, Osun State Commander, Amotekun Corps, and Special Adviser to Osun State Governor on Security, Barrister Dare Ojo.
Also on the enlarged Committee, where members are enjoined by Gov Adeleke to bring in their wealth of experience to bear on the highly critical assignment, are the Chairman, NBA Osogbo branch, Yemi Abiona, Esq; the Chairman, NBA, Ikirun, Niyi Akinsola, Esq; the Chairman, NBA, Ile Ife, Tope Olajoko, Esq; the Chairman, NBA, Ilesha, Raymond Oki, Esq; Others appointed to serve on the Ifon- Ilobu- Erin Osun Peace Resolution Committee are; Soladoye Abioye, the Surveyor General of Osun State – Dr Sodiq Olohunde, Office of Chief of Staff to the Governor, Marufat Adekemi Bello, Permanent Secretary , Ministry of Justice – Femi Ogundun,- Permanent Secretary, Ministry of Local Govt and Chiertincy Affairs, Dr Fritz Mobolaji Olaoye, Permanent Secretary, Ministry of Lands and Physical Planning.
Completing the list of the Committee members are Comrade Wasiu Ajadosu, Osun NUJ Council Chairman, Comrade Waheed Lawal, Osun Civil Society Coalition and Comrade Saka Mao, a Public Affairs Analyst
The statement has it that Gov Adeleke, will on Tuesday, the 28th of January, 2025 perform the swearing in ceremony of the 100-member enlarged Ifon, Ilobu, Erin Osun Land Crisis Resolution Committee, at the Multi purpose hall of Local Government Service Commission, State Government Secretariat, Abere Osogbo by 11:00am.
Edo State Governor, Senator Monday Okpebholo, has charged the Managing Director of the Edo State Traffic Control Management Agency (EDSTMA), Engr. Stainless Ijeghede on indiscriminate parking and traffic gridlock, especially in market areas.
According to a statement in Benin City on Friday, by Chief Press Secretary to Edo State Governor, Fred Itua, his principal gave the charge while decorating Ijeghede with his new rank as the head of EDSTMA.
He noted that while addressing the new Managing Director and his personnel at the Exco Chambers in Government House, Gov Okpebholo pointed out that the agency should do its job well by ensuring free flow of traffic across the state.
He called on Ijeghede and men of the agency to ensure they checked indiscriminate parking of vehicles and buses, especially in market areas.
“Edo State belongs to all of us and whatever we are doing, we should do it with care not to harm anybody. I appeal to EDSTMA to ensure that the city is well kept because whenever I drive round town, I see vehicles everywhere as the city is not well kept.
“This is your primary assignment. You should ensure the city is well kept as vehicles park indiscriminately and they are causing obstruction. Traffic is not flowing as it should and it is causing serious gridlock. Is it that you are not doing your job well?
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“Is it that you are not doing your job well or because you have a new leader that is why traffic is not flowing, or because you don’t know your job?
“You people should wake up and keep the state clean. Make sure that vehicles are parked well especially in the market areas. Monitor markets very well as these areas are looking really unkempt with vehicles and buses parked indiscriminately, causing traffic gridlock. Edo people are worst hit. They suffer from this. Ensure free flow of traffic so that the people will be happy,” Governor Okpebholo emphasized.
The EDSTMA boss, thanked Gov Okpebholo for the opportunity to serve the people of Edo State and assured him of the loyalty of the agency.
He added that his men will do their job professionally and ensure that the is free flow of traffic across the state.
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