Category: News

  • Comptroller Mohammed Shuaibu, Area Controller Nigeria Customs Service Ogun I Command Idiroko Hands Over To Comptroller Olugbenga Otunla

    Comptroller Mohammed Shuaibu, Area Controller Nigeria Customs Service Ogun I Command Idiroko Hands Over To Comptroller Olugbenga Otunla

    The Customs Area Controller of the Nigeria Customs Service, Ogun I Command, Comptroller MS Shuaibu, has formally handed over the leadership of the Command to Comptroller GA Otunla, marking the end of a brief but impactful tenure characterized by enhanced anti-smuggling operations, strategic partnerships, and revenue generation.

    Speaking at the handing-over ceremony held at the Command’s headquarters in Idiroko, Shuaibu expressed gratitude for the opportunity to serve, describing his time at the helm as a defining moment in his long-standing career in the Nigeria Customs Service.

    “It has been an incredible journey, marked by challenges, triumphs, and invaluable lessons. Serving as the Customs Area Controller of Ogun I Command has been the pinnacle of this journey,” he said.

    During his three-month tenure, the Command recorded notable achievements, including the generation of ₦43,412,794.00 in revenue and 161 seizures of various contraband items. Among the seizures were 3,699 parcels of Cannabis Sativa, 150 sacks of Indian Hemp, three single-barrel long guns, four packets of cartridges totaling 100 rounds, and a cash haul of 7 billion CFA Francs.

    Shuaibu attributed the Command’s achievements to the dedication and professionalism of the officers under his leadership, as well as robust collaboration with sister security agencies, traditional rulers, and stakeholders in the border communities.

    “I am immensely proud of what we achieved together. Our efforts have positioned the Ogun I Command as a key player in Nigeria’s economic and security architecture,” he added.

    He urged officers, stakeholders, and sister agencies to extend full cooperation to his successor, Comptroller GA Otunla, emphasizing that continued support is essential for sustaining the Command’s progress.

    In his address, Shuaibu reflected on the tough decisions taken during his tenure, acknowledging that some may have stirred controversy but were necessary for the advancement of the Command. “Toes were stepped on, feathers were ruffled, but those decisions were never for personal gain. They were made in the interest of performance and national interest,” he said.

    Shuaibu thanked the Comptroller-General of Customs and the Service’s management for the trust and opportunity to lead, noting that his time in Ogun I Command had been fulfilling and transformative.

    Quoting Apostle Paul in conclusion, he said, “I have run with perseverance and have finished the race. Whether I have finished it successfully or not is not for me to say – I leave that to you.”

  • APAPA COMMAND HITS ₦1 TRILLION COLLECTION

    APAPA COMMAND HITS ₦1 TRILLION COLLECTION

    Ahead of completing the first half of 2025, the Apapa Command of Nigeria Customs Service has hit ₦1 trillion revenue collection, which is a landmark achievement in the history of the Service.

    The Command’s revenue collection table shows a total of ₦1,002,968,178,694.07 this is coming more than 45 days ahead of the command’s first half report of activities.

    Comptroller Babatunde Olomu, fsi, the Customs Area Controller, attributed the success to a combination of leadership direction of the Comptroller General of Customs, blocking areas of revenue leakages and the diligent discharge of functions on the part of Officers and men in the area.

    Hitting the ₦1 trillion mark before the middle of the fifth month, according to Dr Olomu, is a confirmation of the Command’s readiness to surpass the total of ₦2.3 trillion that was collected last year before December 2024.

    While commending the Officers of the Command for sustaining the rising tempo of work which he instituted since May 2024 when he assumed office as CAC Apapa Command, the Controller called for increased efforts in ensuring maximum collection, suppression of smuggling through diligent cargo examination and facilitation of lawful trade.

    The CAC also admonished all Officers in the Command to sustain and improve on the act of intelligence sharing, robust interactions, cooperation with sister government agencies and regular stakeholder engagements to achieve more and contribute to the nation’s economic well-being.

    Comptroller Olomu said the policy thrust of the CGC Bashir Adewale Adeniyi MFR, which includes deployment of a Unified Customs Management System, also known as B’Odogwu has shown prospects for higher productivity by the Command.

    He said that with the ongoing training of licensed Customs agents and freight forwarders ahead of the full deployment of B’Odogwu, the Command’s chances of surpassing 2024 collection and meeting 2025 target are higher.

    “Our award-winning reputation remains unshaken as we intensify efforts to maintain our excellent record as the leading customs command domiciled in the nation’s premier port.

    ” This recent revenue collection milestone only goes to show we are not resting on our oars. Going by the examples of our CGC, we have resolved not to be complacent’’.

    “It’s important we thank our compliant stakeholders for their support in this journey of national service and reiterate that any unlawful behavior that seeks to undermine national economic drive or compromise the country’s security shall be prevented with full sanctions of the law coming down on perpetrators”, Comptroller Olomu said.

    Last year, the Command won several awards for revenue collection, including the CGC Award of Excellence, while Comptroller Olomu emerged ‘Best Controller of the Year’ for his exceptional leadership and improving on the command’s capacity to deliver on its mandates at the Comptroller General of Customs Award night, held in Abuja.

    This was stated in a Press statement signed by SC Tunde Ayagbalo, Customs Public Relations Officer, Apapa Area Command.

  • Tincan Launches B’odogwu, As First Declaration Is Captured On The New Platfor

    Tincan Launches B’odogwu, As First Declaration Is Captured On The New Platfor

    ….Commits to Transparent and Efficient Cargo Operations

    In a landmark development for Nigeria’s maritime sector, the Tincan Island Port Command of the Nigeria Customs Service (NCS) has successfully processed its first Single Goods Declaration (SGD) using the indigenously developed B’Odogwu platform. The event, which took place on Monday, May 12, 2025, marked a significant step in trade facilitation, transparency, and operational efficiency at one of the country’s busiest Seaports.

    According to the Press statement signed by SC OE IVARA, CPRO TIN-CAN ISLAND PORT COMMAND, “the successful deployment and processing of the inaugural SGD on the B’Odogwu platform reflect the Customs Service’s ongoing commitment to digital transformation, in line with the Federal Government’s drive to enhance ease of doing business.

    Speaking on the watershed moment, the Customs Area Controller of the Command, Comptroller Frank Onyeka, said: “This achievement demonstrates our readiness to embrace technology that streamlines cargo clearance procedures, reduces dwell time, and improves service delivery. The B’Odogwu platform has shown great promise, and we are proud to be pioneers in its implementation.”

    Comptroller Onyeka further highlighted that the Command has achieved 100% network infrastructure coverage across all terminals and the Command’s headquarters. He emphasized that the problem of network failure is now a thing of the past, ensuring seamless connectivity and efficient processing of cargo and trade documentation.

    According to him, the B’Odogwu platform is designed to integrate seamlessly with existing Customs systems, providing a user-friendly interface for declarants, brokers, and other stakeholders. It enhances cargo tracking, document processing, and compliance management in real-time, reducing manual bottlenecks and opportunities for delays, he said.

    Comptroller Onyeka further noted that the launch was preceded by a series of extensive training sessions and stakeholder engagements organized by the Command, in collaboration with system developers. Key industry participants—including shipping lines, customs licensed agents, terminal operators, and customs officers—took part in these capacity-building initiatives. The training sessions were designed to ensure the seamless adoption of the new platform and covered critical areas such as system navigation, document processing, cargo tracking, and compliance protocols.”

    Industry stakeholders, including SteveJosh Logistics International limited whose declaration was the first to be captured on the new platform, welcomed the innovation, expressing optimism that the new platform will reduce transaction costs and improve Nigeria’s global trade competitiveness.

    The Tincan Island Port Command remains committed to embracing technological advancements that support the nation’s economic growth and international trade agenda.

  • Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

    Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

    Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

    The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year. Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.

    Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”

    Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.

    Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.

    “Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.

    Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

    The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

  • WE ARE OPEN TO COLLABORATION: GOC 81 Division Emphasised As He Hosted Admiral Superintendent of Naval Dockyard

    WE ARE OPEN TO COLLABORATION: GOC 81 Division Emphasised As He Hosted Admiral Superintendent of Naval Dockyard


    The General Officer Commanding (GOC) 81 Division Nigerian Army (NA), Major General Farouk Mijinyawa, has reaffirmed the Division’s commitment to collaborating with other security agencies in Lagos and Ogun states. He made this known during a courtesy visit to the Division’s Headquarters by the Admiral Superintendent of Naval Dockyard Limited, Rear Admiral IE Shehu on 6 May 25 at Victoria Island, Lagos.

    The GOC reiterated the Division’s commitment to joint operations with the Sister Services and other security agencies within the Division’s Area of Operations.

    He emphasized that such collaboration is imperative for effective security of lives and properties within the Area of Responsibility (AOR) as well as flourishing of economic activities.

    Major General Mijinyawa noted that the continuous crackdown on criminal activities that could hinder peace and security in the AOR are yielding positive results.

    Stating the purpose of the visit, the Admiral Superintendent of the Naval Dockyard Limited, Rear Admiral IE Shehu stressed that the initiative was aimed at enhancing existing collaboration and ensuring seamless operational activities. He pledged the full support of the Naval Dockyard through essential engineering services and technical maintenance of platforms to support the Division’s operations.

    “We are committed to building on established relationships and opening new channels for collaboration,” Rear Admiral Shehu stated, underscoring the Dockyard’s readiness to fully support the Division’s efforts.

    The visit which is a decisive move to further fortify security in Lagos and Ogun states and boost inter-agency cooperation marked a significant milestone in reinforcing the strategic partnership between the NN and the NA, with a clear focus on further safeguarding Lagos and neighbouring states.

    The highlights of the visit include the exchange of souvenirs, interactive sessions, the admiral’s endorsement of the Visitors’ Book, and group photographs to commemorate the occasion.

    The statement was signed by Lieutenant Colonel Olabisi Olalekan Ayeni, Acting Deputy Director, Army Public Relations, 81 Division, Nigerian Army.

  • NAFRC Partners EMPRETEC To Graduate Military Officers From Entrepreneurship & Management Training Programme

    NAFRC Partners EMPRETEC To Graduate Military Officers From Entrepreneurship & Management Training Programme


    The Nigerian Armed Forces Resettlement Centre (NAFRC), in collaboration with the EMPRETEC Nigeria Foundation, has graduated 30 military officers from its quarterly Senior and Mid-Level Entrepreneurship and Management Training Course (14/2025), held at the Centre’s Resource Complex in Oshodi.

    The graduation ceremony, Chaired by the Chairman Empretec Nigeria Foundation, H.E. Donald Duke—marked the culmination of a six-week intensive training aimed at equipping participants with entrepreneurial, vocational, and leadership skills needed for life during and after military service.

    In his keynote address, Duke lauded the efforts of the Commandant and the training team, emphasizing that the course has empowered the officers with essential tools for innovation, business development, and community impact.

    “As ‘Empretecos,’ I urge you to embrace innovation, effective management, and social responsibility. The entrepreneurial mindset you’ve developed here will drive positive change in our society,” he said.

    Commandant of NAFRC, Air Vice Marshal Bashir Rimi Mamman, praised the graduating officers for their dedication and described the training as a strategic initiative to boost productivity, self-reliance, and post-service reintegration. He stated that the curriculum had been reviewed to meet the high standards expected of senior officers, with a focus on agriculture as demonstrated by the participants’ visit to Songhai Farms in Benin Republic.

    “You have been empowered to shape the future, turn visions into realities, and contribute to national development. Leadership is not just about authority—it is about empowering others,” AVM Mamman charged the officers.

    He also announced that the Corporate Affairs Commission (CAC) will visit the Centre in June to facilitate business registration for the new graduates, encouraging them to formalize their ventures.

    Donald Duke commended the initiative, calling it a transformational platform for military personnel. He noted the importance of preparing officers—many of whom joined the military at a young age—for successful transitions into civilian life.

    Director of Training, Brigadier General IO Olatunji, revealed that 30 participants—comprising 13 mid-level officers, 13 senior officers, and four NAFRC personnel—successfully completed the course out of the 85 expected. He acknowledged their exceptional discipline and coordination throughout the training.

    The event featured the formal conferment of graduation by AVM Mamman, along with certificate presentations and awards for outstanding performance.

    The programme reinforces NAFRC’s commitment to preparing Nigerian military officers for entrepreneurial success and sustainable livelihoods beyond active service.

  • Unity Bank Launches GenFi, Targets Children, Teens with Gamified Banking Platform

    Unity Bank Launches GenFi, Targets Children, Teens with Gamified Banking Platform

    In a bold move to redefine promotion of financial literacy, Nigeria’s retail lender, Unity Bank Plc, has unveiled GenFi, a new digital banking platform tailored to empower kids and teenagers between the ages of 8 and 18 with essential financial skills.

    The launch follows a report by the Central Bank of Nigeria, which found that only 38% of Nigerian adults are financially literate. This alarming statistic underlines the urgent need for early financial education.

    GenFi, therefore, aims to reverse this trend by offering young users the platform to manage money effectively, aggregate and track allowances or income, set and achieve savings goals, and develop smart spending habits with parental guidance.

    Speaking at the official launch event in Lagos, the Managing Director/Chief Executive Officer (Ag) of Unity Bank Plc, Mr. Ebenezer Kolawole, said the launch of the Genfi App represents a significant milestone since Unity Bank’s foray into retail Banking started several years ago, adding that “as the Bank continues to evolve, the institution is constantly innovating with technology to enable us drive more financial inclusiveness in different segments of the market”.

    Mr. Kolawole explained that Genfi was inspired by the desire to nurture a financially savvy generation, and empower them to make smarter financial choices.

    He said, “GenFi is short for Generation Finance, and with this app, the Bank is pioneering solution designed to empower Children, Teenagers, particularly Gen Z and Gen Alpha, with essential financial literacy skills and a Personal Finance Management Solution.

    “GenFi is a market proposition that helps us address a critical knowledge gap among our kids and Teens as it also connects with the strong passion of parents desirous to empower their wards with financial literacy.”

    Similarly, the Divisional Head of Retail and SME Banking at Unity Bank, Mrs. Adenike Abimbola, described GenFi as a financial product that goes beyond Banking: hence a financial literacy ecosystem designed to inculcate financial literacy skills amongst Nigerian Children through an engaging and gamified platform.

    “Financial literacy is not a luxury. It’s a life skill. And like most life skills, the best time to learn is from childhood. That’s why we created GenFi, not just as a banking app, but as an interactive experience that nurtures discipline, planning, and financial independence from an early age,” Abimbola explained.

    The Genfi platform leverages behavioural science and gamification to make financial learning fun and practical. Parents can monitor transactions, guide financial behaviours, and initiate real-life conversations around money management, thereby promoting not just financial skills, but also stronger family bonds.

    “Imagine a 12-year-old setting a goal to save for a bicycle, not only are they learning to save, but they are also learning patience, discipline, and the value of delayed gratification. That’s the GenFi advantage,” said Abimbola.

    Speaking after the launch, one of the students who attended the launch event, Master Ajayi Favour of Victoria Island Junior Secondary School, described Genfi as an “innovative banking solution that will equip children and teenagers with financial intelligence, management, and independence.” He expressed confidence that the app will gain global reach and become popular among the target demographics.

    Also, a guest at the launch and school proprietor, Sylvia Ezeora, described the Genfi app as “user-friendly, educational, and motivational for children”. She noted that beyond teaching financial literacy, “the app empowers parents to reinforce positive behaviour through rewards for completed tasks and promotes responsibility”.

    Another guest and parent, Genevieve Adindu, commended Unity Bank for the innovative solution, tailored for children aged 8 to 18, and noted that Genfi “provides a modern, engaging approach to instilling saving habits early in life, replacing traditional methods like the kolo with a more effective digital tool, thereby becoming a powerful companion for children’s financial education”.

    GenFi is positioned as a national benchmark for youth-focused digital banking, with the potential to drive economic inclusion and sustainability across generations. The launch event was attended by key stakeholders from the education and finance sectors, technology partners, media, and young students who will be among the early adopters.

  • CSOs Call On Senate President Akpabio To Step Aside Following Electoral Fraud Judgment

    CSOs Call On Senate President Akpabio To Step Aside Following Electoral Fraud Judgment

    Prominent Civil Society Organizations (CSOs) have called on Senate President Godswill Akpabio to step aside from office following the Court of Appeal’s affirmation of the conviction of Professor Peter Ogban, the returning officer in the 2019 Akwa Ibom North-West Senatorial election, for electoral fraud.

    The appellate court sitting in Calabar on Wednesday upheld the three-year prison sentence earlier handed down to Professor Ogban, who was found guilty of falsifying election results to favor Senator Akpabio, then the All-Progressives Congress (APC) candidate.

    “This ruling raises serious concerns about the legitimacy of Senator Akpabio’s mandate,” the CSOs said in a joint statement. “It is deeply troubling that the election which brought him to the Senate has now been judicially confirmed to have been manipulated. In any democratic society, such a development demands immediate accountability and responsible leadership.”

    The CSOs emphasized that while Senator Akpabio has denied personal involvement in the fraud, the conviction of the very official who declared him the winner casts a dark shadow over the credibility of that election. They insist that for the sake of public confidence, the rule of law, and the integrity of Nigeria’s democratic institutions, Senator Akpabio must temporarily vacate his position until the matter is conclusively addressed.

    The CSOs raised a fundamental question: having been a confirmed beneficiary of electoral fraud in the 2019 election to the 9th Senate—which he did not even complete due to his later appointment as Minister of Niger Delta—did Senator Akpabio have the legal or moral standing to contest for a seat in the 10th National Assembly, let alone serve as its President?

    “This is not just about one individual. It is about restoring public trust in our electoral process. Allowing the Senate President to remain in office under such serious ethical questions undermines democratic values and sends a dangerous signal ahead of the 2027 general elections,” the CSOs stated.

    The organizations commended the Independent National Electoral Commission (INEC), particularly former Akwa Ibom Resident Electoral Commissioner (REC) Mike Igini, for spearheading the investigation and prosecution of the case. They urged the National Assembly, INEC, and the judiciary to take this judgment as a clarion call to strengthen mechanisms that prevent electoral manipulation at all levels.

    They further called on the APC leadership to demonstrate its commitment to electoral reform and democratic accountability by initiating a rerun or revalidation process for the Akwa Ibom North-West senatorial seat.

    “The judiciary has done its part. It is now up to the political leadership to rise to the occasion and show Nigerians and the world that no one is above the law—not even the Senate President,” the CSOs concluded.

    Signed:

    1. 21st Century Community Empowerment for Youth Initiative

    2. Accountability Lab, Nigeria

    3. Abuja School of Social and Political Thought

    4. Africa Network for Environment and Economic Justice (ANEEJ)

    5. African Centre for Leadership, Strategy & Development (Centre LSD)

    6. African Centre for Media & Information Literacy (AFRICMIL)

    7. Alliance on Surviving Covid 19 and Beyond (AACAB)

    8. Amnesty International Nigeria

    9. Borno Coalition for Democracy and Progress (BOCODEP)

    10. BudgIT Foundation

    11. Center for Fiscal Transparency and Public Integrity

    12. Centre for Democracy and Development (CDD)

    13. Centre for Democratic Research and Training (CRDDERT)

    14. Centre for Information Technology and Development (CITAD)

    15. Centre for Journalism Innovation and Development (CJID)

    16. Centre for Social Justice

    17. Civil Society Legislative Advocacy Centre (CISLAC)

    18. CLEEN Foundation

    19. Conscience for Human Rights and Conflict Resolution (CHRCR)

    20. Corporate Accountability and Public Participation Africa (CAPPA)

    21. Emma Ezeazu Centre for Good Governance and Accountability

    22. Environmental Defenders Network

    23. Environmental Rights Action/Friends of the Earth, Nigeria (ERA)

    24. Alliance on Surviving Covid 19 and Beyond(AACAB)

    25. #FixPolitics

    26. Global Rights

    27. Good Governance Team

    28. Health of Mother Earth Foundation (HOMEF)

    29. Human and Environmental Development Agenda (HEDA Resource Centre)

    30. Kebetkache Women Development & Resource Centre

    31. Lawyers Alert

    32. Media Rights Agenda

    33. Mothers and Marginalized Advocacy Centre (MAMA Centre)

    34. Organization for Community Civic Engagement (OCCEN)

    35. Partners West Africa

    36. Peering Advocacy and Advancement Center in Africa PAACA

    37. Praxis

    38. Prisoners’ Rehabilitation and Welfare Action (PRAWA)

    39. Procurement Observation and Advocacy Initiative

    40. Resource Centre for Human Rights and Civic Education (CHRICED)

    41. RULAAC – Rule of Law and Accountability Advocacy Centre

    42. Say NO Campaign – Nigeria

    43. Sesor Empowerment Foundation

    44. Social Action

    45. Socio-Economic Rights and Accountability Project (SERAP)

    46. SPACES FOR CHANGE

    47. State of the Union (SOTU)

    48. Tax Justice and Governance Platform

    49. Transition Monitoring Group (TMG)

    50. West Africa Civil Society Forum (WASCSOF)

    51. West Africa Civil Society Institute (WACSI)

    52. Women Advocate Research and Documentation Centre (WARDC)

    53. Women in Media Communication Initiative (WIM)

    54. Women’s Rights Advancement and Protection Alternative (WRAPA)

    55. Yiaga Africa

    56. Zero Corruption Coalition (ZCC)

  • Minister of Finance Heads 62nd NCS Board Meeting, Pushes for More Success Stories Amid Q1 Achievements

    Minister of Finance Heads 62nd NCS Board Meeting, Pushes for More Success Stories Amid Q1 Achievements

    The 62nd regular meeting of the Nigeria Customs Service (NCS) Board was held on Tuesday, April 29 2025, at the Service’s Headquarters in Maitama, Abuja. The session was chaired by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who led a high-powered delegation to assess the Service’s first-quarter performance and chart the path forward.

    The board meeting served as a statutory forum to evaluate the Service’s operational strategies, fiscal contributions, and reform-driven activities, particularly in light of its Q1 2025 performance. During the quarter, the NCS recorded a historic ₦1.75 trillion in revenue, exceeding its target by ₦106.5 billion and marking a nearly 30% increase compared to the same period in 2024.

    Following the meeting, the Minister expressed satisfaction with the Service’s progress but emphasised the need to scale up efforts to meet the country’s economic demands.

    “As is expected and required, there is an improvement in the revenue of the Service, which is slightly above what was budgeted for the first quarter. However, much more is required, and more is expected of an institution that is pivotal in revenue,” he states.

    Minister Edun described the board meeting as productive and reaffirmed the importance of open governance and accountability within public institutions.

    “It was a good meeting. It’s important that we maintain corporate governance oversight and consultation through these regular statutory meetings. At the end of the day, we will always ask that we do more to improve the revenue and the services operations to aid the Nigerian economy and serve the good people of Nigeria”, he remarked.

    The meeting also touched on modernisation initiatives such as expanding the B’Odogwu (Unified Customs Management System), implementing the Authorised Economic Operators (AEO) programme, and enhancing anti-smuggling efforts—all aimed at boosting trade facilitation and national security.

  • Fidelity Bank’s FY 2024 Performance Praised by Shareholders

    Fidelity Bank’s FY 2024 Performance Praised by Shareholders

    Shareholders of tier one lender, Fidelity Bank, have applauded the board and management of the bank for delivering an outstanding performance in FY 2024.

    Speaking at the bank’s 37th Annual General Meeting (AGM) held virtually on Tuesday, April 29, 2025, the National Chairman of The Progressive Shareholders Association, Chief Boniface Okezie, praised the bank, saying, “This is a superlative performance and we the shareholders are grateful to management and staff for giving us a bank to be proud of. It is also important to note that the bank has earned its spot as one of the top 3 dividend-paying financial institutions in Nigeria.”

    On his own part, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, recognized the bank’s exceptional leadership, which has seen the bank grow to unprecedented heights.

    “The achievements of the current MD have surpassed that of everyone who held that office before her. In addition, staff working with her are assets. They are truly ‘Fidelity, they keep their word’. Without any doubt, I am very happy with the bank”, he declared.

    In his remarks at the meeting, the Chairman, Board of Directors, Fidelity Bank Plc, Mr. Mustafa Chike-Obi, said, “Despite the global economic headwinds, we demonstrated exceptional resilience, achieving record breaking growth across all performance indicators, most notably our Profit Before Tax (PBT)”.

    He further added that the bank’s stakeholders were all pleased with the success of the first stage of the capital-raise exercise. “The oversubscription of 237.9% in the Public Offer and 137.7% in the Rights Issue is a testament to the strength of our brand and the confidence the investing public has in us. Equipped with this vote of trust, we will proceed swiftly and conclude the second tier of our capital-raise exercise”.

    Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe in her statement to shareholders, shared the strategic outlook to build on the bank’s FY 2024 success stating that, “Our priorities in 2025 financial year are to complete the next phase of our capital raise and further strengthen our asset base, enhance operational efficiency and digital innovation and explore strategic regional expansion into select African markets.”

    According to the bank’s 2024 annual report available on its website and distributed to shareholders, the bank recorded an impressive 210% growth in Profit Before Tax to N385.2 billion. Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The bank also witnessed an impressive 47.9% growth in deposits from N4.0trn in 2023FY to N5.9trn while Advances grew from N3.1tn in 2023FY to N4.4tn in 2024FY.

    Several resolutions were considered and passed at the AGM, including the declaration of a final dividend of N1.25 kobo, the election of non-executive directors -Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the election of Mr Sufiyanu Ibrahim Garba as executive director; and the re-election of non-executive directors -Mr Mustapha Chike-Obi and Engr Henry Obih, among others.

    Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

    The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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