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JUST IN: Femi Otedola Appointed Chairman, FBN Holdings

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Nigerian billionaire, Femi Otedola has been appointed as chairman of The First Bank of Nigeria Holdings’ board of directors, succeeding Alhaji Ahmad Abdullahi.

Otedola, who recently reclaimed his spot on the Forbes African Billionaires list after a seven-year absence, expressed his enthusiasm on Instagram, captioning a picture of the announcement with “Interesting” and including smiley and dollar emojis.

At 61 years old, Otedola ranks 20th on the list, boasting a net worth of $1.1 billion.

This appointment, according to the bank, takes effect today, January 31, 2024.

Forbes reports that the combined wealth of the 2024 list’s top 20 billionaires increased to $82.4 billion from last year’s $81.5 billion, with Otedola’s comeback contributing to the rise.

Otedola, absent from the Forbes Africa list since 2017, secured the 20th spot this year.

The FBNH’s decision to appoint him as chairman was disclosed in a corporate filing on the Nigerian Exchange Limited (NGX) following a recent board meeting. Investors were notified of this development.

In July 2023, Wole Olanipekun & Co, representing Dr. Oba Otudeko, the former chairman of the group, urged FBNH to disregard a petition from Ecobank’s lawyers.

The legal representatives dismissed Ecobank’s claim of a Supreme Court judgment supporting their demand for the rejection of 4.7 billion shares purchased by Otudeko.

In a letter, the law firm clarified that no court order had awarded any judgment sum in favor of Ecobank as a liability from their client or any Honeywell companies.

Wole Olanipekun & Co, representing Otudeko, advised FBNH to reject all requests in Ecobank’s letter.

The Securities and Exchange Commission (SEC) disclosed an investigation into the conflict at FBNH Plc.

Despite Otudeko acquiring 4.7 billion FBNH shares in July 2023, in October 2023, Otedola was listed as the largest shareholder of the company.

FBNH stated, “the company received a notification from Honeywell Group Limited that its affiliate, Barbican Capital Limited, has acquired an aggregate of 4,770,269,843 units of shares from the company’s issued share capital of 35,895,292,791, (35.89 billion) as at the above-referenced date.

“Based on the foregoing, the equity stake of Barbican Capital Limited in the company is 13.3 per cent.”

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Military Gear Found at Ondo Crash Site as Helicopter Burns to Rubble

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Military gear has reportedly been found at the scene of a helicopter crash in Igbokoda, headquarters of Ilaje Local Government Area of Ondo State.

The helicopter crashed in a swampy area of the coastal community on Monday, October 5, 2026, sparking panic among residents.

The Chairman of Ilaje Local Government Area, Maurice Oripelaye, said military personnel and equipment were seen at the crash site, raising the possibility that the aircraft could have been a military helicopter.

READ ALSO:Shell Endorses Regional Action Plan for Safe Helicopter Services

However, the identity of the helicopter and its operator had not been officially established as of the time of filing this report.

Oripelaye said the aircraft crashed near the Naval Base area and was burnt to rubble following the incident.

He also said the number of people who were aboard the helicopter could not immediately be ascertained, while the fate of those on board remained unclear.

Earlier, residents reported hearing a loud sound from the direction of the crash before discovering that an aircraft had gone down in the swampy area.

The difficult terrain has also made access to the crash site challenging, with security personnel and other responders deployed to the area.

The Ondo State Police Command has confirmed the aircraft crash and said investigations are ongoing to establish the circumstances surrounding the incident.

The police urged residents of Igbokoda and adjoining communities to remain calm and avoid spreading unverified information, promising to provide further details as credible information becomes available.

 

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JUST IN: Oluremi Tinubu Arrives BATICC for APC Women’s Pre-Inaugural Ceremony Arrives BATICC for APC Women’s Pre-Inaugural Ceremony

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Nigeria’s First Lady, Senator Oluremi Tinubu, has arrived at the Bola Ahmed Tinubu International Conference Centre (BATICC) in Abuja for the All Progressives Congress (APC) Women Stakeholders’ Mobilisation and Empowerment Pre-Inaugural Campaign Roll-Out.

The First Lady arrived at the conference centre on Monday, October 5, for the women-focused political gathering organised by the Women Mobilisation Directorate of the APC Presidential Campaign Council ahead of the 2027 general elections.

The event is themed “Renewed Hope Agenda 2.0: From Reforms to Prosperity,” with the mobilisation message, “One Voice, One Movement, One Choice, One Mandate 2027.”

SEE ALSO: Tinubu Gov’t Does Not Engage, Everybody Is Its Enemy — Ajaero

The gathering is expected to bring together thousands of women from across the country, including women leaders, professionals, entrepreneurs, political stakeholders, community representatives and grassroots organisers.

20,000 women expected

The arrival follows a report published on Sunday, October 4, which said Oluremi Tinubu was expected to lead a major mobilisation of women stakeholders in Abuja.

According to the report, more than 20,000 women were expected to attend the Women Stakeholders’ Mobilisation and Empowerment Pre-Inaugural Campaign Roll-Out scheduled for 8am at BATICC.

The APC Women Mobilisation Directorate has also announced an ambitious target of mobilising 40 million women’s votes for President Bola Tinubu and Vice-President Kashim Shettima ahead of the 2027 presidential election.

Director of the Women Mobilisation Directorate of the APC Presidential Campaign Council, Dr Betta Edu, disclosed the target ahead of the gathering and said the structure was expanding its grassroots mobilisation across the country.

Speaking ahead of the event, a member of the APC Presidential Campaign Council Women Mobilisation Planning Committee, Princess Gloria Akobundu, highlighted programmes including the Nigerian Education Loan Fund (NELFUND), CREDICORP, infrastructure projects, cash-transfer programmes and youth empowerment initiatives.

Akobundu urged women in Imo State and across the South-East to strengthen their mobilisation structures and take the Renewed Hope Agenda message to communities across the region.

She said, “We are calling on our women across the South-East to strengthen their mobilisation and ensure that the message of the Renewed Hope Agenda reaches every community and locality.”

 

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‘Nigerians Still Exposed to Kidnappers Despite Subsidy Savings for Security’ – Atiku

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PDP Threatens INEC Over Delay In Presidential Election Results

Former Vice President Atiku Abubakar has criticised the Federal Government over the continued exposure of Nigerians to kidnappers, questioning the impact of savings from fuel subsidy removal on national security.

Atiku disclosed this in a statement on Monday while reacting to the abduction of 20 travellers, including prospective National Youth Service Corps (NYSC) members, in Imo State.

He described the abduction as “heartbreaking,” noting that although some of the victims had been rescued, others remained in captivity.

SEE ALSO: Fuel Subsidy: Atiku Showing Symptoms of Desperation — Afegbua

Atiku urged the Federal Government, Imo State Government and security agencies to act with urgency to secure the release of all those still being held.

He also raised concern over more than 70 pupils and students abducted from Mussa and Lassa in Borno State who, according to him, have remained in captivity for months.

“These children must not be forgotten. Their families deserve clear updates, and the public deserves answers,” he said.

The former vice president questioned the government’s handling of insecurity, recalling President Bola Tinubu’s promise that savings from the removal of fuel subsidy would help fund security.

“Yet Nigerians remain exposed to kidnappers on our roads, in our communities and around our schools,” Atiku said.

He said young Nigerians were facing danger at different stages of their lives, from secondary school to university and now while travelling to NYSC camps.

“Young people face danger in secondary school, struggle with unaffordable fees at university, and are now targets on their journeys to NYSC camps. This is a generation being failed at every stage,” he said.

Atiku also criticised the award of what he described as huge pipeline security contracts to politically connected companies, while ordinary Nigerians continue to face criminals.

“The first duty of government is to protect lives,” he stated.

He called for the immediate and safe rescue of every abducted young person and the return of those still unaccounted for.
Atiku also reaffirmed his commitment to building a safer and more affordable Nigeria where young people can create, build and prosper.

“My promise to build a safer and more affordable Nigeria, where young people can create, build and prosper, remains unshakable,” he said.

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