WHO IS AFRAID OF FIDELITY BANK

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By Udeme Etukeyen Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right? My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1,043.4 billion…

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Why Fidelity Bank Plc Is Too Big to Fail

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Several media platforms have gone to town with the news of the Supreme Court ruling on a dispute between the defunct FSB International Bank and Sagecom Concepts Limited with some of them questioning the ability of Fidelity Bank (the judgement debtor) to make the payment. As the matter is still before the court and there’s a court order prohibiting media publications on this matter, warning that violations would constitute contempt of court, a punishable offense, we will highlight in this article why Fidelity Bank is too big to fail as…

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Two days after Monarch’s abduction, three killed in Kogi community

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Barely two days after the abduction of Oba Ogunyanda Ilufemiloye, the Obalohun of Okoloke, unknown gunmen again, ambushed and killed three indigenes of Okoloke in Yagba West, Kogi State. The incident occurred on Saturday, following the monarch’s kidnapping on Thursday. The victims were identified as Ogunbiyi Dele, the Oluode of Okoloke, Moses Jimoh, and Tobi Olu, also known as India. Two of the victims were members of the local hunters’ group and were reportedly on their way to Egbe, a neighbouring town, to make purchases. The Obalohun remains in the…

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Ex-President Joe Biden diagnosed with ‘aggressive’ prostate cancer

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Former president of the United States of America, Joe Biden, aged 82, has been diagnosed with prostate cancer that has spread to his bones, a statement from his office said on Sunday. Biden, who left office in January, was diagnosed on Friday after he saw a doctor last week for urinary symptoms. The cancer is a more aggressive form of the disease, characterised by a Gleason score of 9 out of 10. This means his illness is classified as “high-grade” and the cancer cells could spread quickly, according to Cancer…

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One dead, three rescued as building collapses in Lagos

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A one-storey building, which was under construction, collapsed around 3:30pm on Sunday, at Idi Araba in the Mushin area of Lagos State One of the construction workers at the site who was trapped under the rubble of the collapsed building died. Three male adults were however, rescued from the scene and are receiving treatment. In a statement issued by the Director of Lagos State Fire and Rescue Service, Margaret Adeseye, it reads: “A building under construction at the one-storey level suddenly collapsed at 96 Ishaga Road, opposite Idi Araba Central…

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Nigerian-British Opeyemi makes history as UK’s youngest mayor

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29-year-old Nigerian-British, Princess Opeyemi Bright, has been inaugurated as the youngest mayor in the United Kingdom after assuming office as the First Citizen of the London Borough of Barking and Dagenham. At 29, Bright’s appointment marks a historic milestone for both the Nigerian diaspora and youth representation in British politics. Her inauguration on Friday, May 16, drew widespread attention as a symbol of diversity and the increasing global footprint of Nigerians in public service. “This is nothing short of God’s grace,” Bright said in her acceptance speech. “I’m proud to…

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Wanted suspected kidnappers arrested in Abuja, Sokoto Hajj camps

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Two high-profile suspected kidnap kingpins we’re yesterday arrested by operatives of the Department of State Services (DSS), during a covert operation at Hajj camps in Abuja and Sokoto, as the suspects prepared to travel to Saudi Arabia for the annual pilgrimage. Security sources disclosed that the suspects — Yahaya Yakubu and Sani Aliyu Galadi — had been on the DSS watchlist for over a year, and that screening at various Hajj camps provided operatives the opportunity to apprehend them. Yakubu, who resides in Paikon-Kore village in Gwagwalada Area Council of…

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We need education to banish poverty – Obasanjo

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Olusegun Obasanjo, former President of Nigeria, Governor Ademola Adeleke of Osun State, and the Ooni of Ife, Adeyeye Enitan Ogunwusi, have called for the urgent end to abject poverty across Africa. Obasanjo insisted that if China could lift 700 million people out of poverty, Nigeria ought not to have anything to do with abject poverty. Speaking during Dele Momodu’s leadership lecture, ‘How to end hunger and poverty in Africa,’ Chief Obasanjo, in his keynote address, posited that “before we talk about food, security is key.” While proffering a lasting solution…

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Kogi traditional ruler abducted inside palace

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The traditional ruler of Ofoloke community in Yagba West Local Government Area of Kogi State, His Royal Highness, Oba Ogunyanda Ilufemiloye, was abducted by armed kidnappers, in the early hours of Thursday when the gunmen stormed the palace. They shot sporadically to scare people away before the monarch was kidnapped after overpowering the palace guards. Reports from the community said his subjects have been trooping to the palace to offer prayers, and appeals to security operatives at both state and federal levels, as well as individuals, to intervene and bring…

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Raul Asencio, three other Real Madrid ex-teammates indicted for sharing minors’ sexual videos

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Raul Asencio, Real Madrid defender has been indicted along with three former youth players at the club for alleged distribution of a sexual video involving a minor, according to Spanish reports on Wednesday. The judge at a Gran Canaria court is prosecuting “four footballers” for their alleged involvement in “the recording or non-consensual dissemination of videos of a sexual nature involving a minor and another young girl”, aged 16 and 18 respectively at the time, read a court document. The judge did not mention Asencio by name, nor specify which…

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