Saturday, February 29, 2020

MC Oluomo Should Pray Against Death''~ Primate Ayodele

Popular Nigerian prophet, Primate Elijah Babatunde Ayodele, has announced that the days of Abubakar Shekau, leader of the dreaded Islamist group, Boko Haram, are numbered. Ayodele, in a release on Friday, 21st of February, 2020, said Shekau would be arrested 'soon' by the Nigerian soldiers, and paraded.

The cleric, who is famous and respected for prophesying accurately on national and international issues, had earlier released a number of divine messages which have come to pass.

Reeling out his latest prophecy on Boko Haram, the founder of INRI Evangelical Spiritual Church, Oke-Afa, Ejigbo, Lagos, however, warned that Shekau's arrest would be made possible by a new set of security leadership, warning that Nigeria's President Muhammadu Buhari must show that he has the interest of the fighting soldiers at heart by replacing the present Service Chiefs with new security helmsmen.

“Shekau, the leader of Boko Haram, will be arrested. But that is after Buhari must have sacked the service chiefs. Except he is not interested in the welfare of soldiers. And except he knows something about Boko Haram's activities,'' Ayodele said.

Further, the prophet stated that God told him Shekau was alive, but would only be arrested immediately after the current service chiefs are removed from office. ''If Buhari does not do this which has been commanded by God, his government would not have peace,'' he warned.

Likewise, twice in February, 2020, precisely Tuesday 4th and Sunday 9th, the 'God’s Oracle' as Ayodele is fondly addressed, warned of the spread of new deadly viruses including Lassa Fever and Coronavirus. “I see the spread of Lassa Fever and Coronavirus happening in Nigeria. It shall not be your portion,” he declared at both services. 

On February 26, Primate Ayodele also urged Nigerians to pray to avert Boko Haram attack in Lagos State and in some hospitals in Nigeria. He warned that Lagos State transport union leader, MC Oluomo, ''must be very prayerful to avert death,'' stating that the Union he leads, NURTW, would face more crises.

Ayodele, who is the only Nigerian prophet that foresaw and warned about the murder of an Aso Villa female staff, called for prayer against ''an accident that may claim the life of a sitting Nigerian governor


First Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of Year 2019 award at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit held recently at Transcorp Hilton, Abuja.

The four-day event, comprising conference and award dinner, is acclaimed to be Nigeria’s Government official platform for the petroleum industry gathering which has evolved to become Africa’s premier business and technology conference for not just oil and gas but for other industries in the economy, notably; maritime, automobile, banking and finance, power (electricity), pipelines, LNG, infrastructure, engineering and construction amongst others.

Speaking on the award, the Bank’s Chief Executive Officer, Dr. Adesola Adeduntan said, “we take pride in this recognition, as it represents the nation’s identification with our leading role in promoting the growth of the oil and gas industry. We remain steadfast on being the financial partner of first choice to Nigerians and, indeed across Africa as we collectively strive towards the continued growth of the economy at large”

Marno de Jong, Vice President, Shell Nigeria (middle) presenting the Oil and Gas Banker of the Year 2019 award won by First Bank of Nigeria Limited to the Bank’s Group Executive, Energy & Infrastructure, CBG, Bashirat Odunewu (right) accompanied by Group Head, Corporate Banking Group (Energy), FirstBank, Oluwatoyin Aina (left), at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit held in Abuja.
The event had in attendance; Dr. Adesola Adeduntan, CEO, First Bank of Nigeria Limited, represented by Mrs. Bashirat Odunewu, the Bank’s Group Executive, Energy & Infrastructure as a panelist to deliberate the topic “What are the key challenges when it comes to managing risk and generate sustainable long-term in-country value development environment”. Other speakers in the panel were Mrs. Olayemi Anyanechi, Managing Director, Partners Sefton Fross; Bank Anthony Okoroafor, Chairman, Petroleum Technology Association of Nigeria (PETAN); Mr. Bitrus Bako Nabasu, Permanent Secretary, Ministry of Petroleum Resources; and Patrick Olinma, Executive Director, Oil & Gas Commercial, Total E&P Nigeria Ltd.

Over 5000 individuals and Corporate bodies from across 43 countries including; Dr. Sun Xiansheng, Secretary, General, International Energy Forum (IEF); Jean-Marc Thystère Tchicaya, Minister of Hydrocarbons, Republic of the Congo; Dr. Omar Farouk Ibrahim, OPEC Governor for Nigeria; Jens FrolichHolte, State Secretary, (International Development) Ministry of Foreign Affairs, Norway; Carri Lockhart, SVP Portfolio and Partner Operated Development and Production International Equinor; Gabriel Mbaga Obiong Lima, Minister of Mines and Hydrocarbons Republic of Equatorial Guinea and Magda Chambriand, Former CEO, National Agency of Petroleum Natural Gas and Biofuels Government of Brazil amongst others, participated in the event.

L-R: Group Head, Corporate Banking Group (Energy), Oluwatoyin Aina; Group Executive, Energy & Infrastructure, CBG, FirstBank, Bashirat Odunewu and Business Manager, CBG, Stephen Oshai following the award of Oil and Gas Banker of the Year 2019 to First Bank of Nigeria Limited at the Nigeria International Petroleum Summit held in Abuja.
FirstBank has over the years supported public and private players in the oil and gas industry which has been the mainstay of the Nigerian economy, post-independence. With its “Oil and Gas Contract Finance products”, the Bank finances the Oil & Gas value-chain by providing Advisory/Agency services, Acquisition Finance/Reserve based lending to indigenous oil producing companies, trade Finance for crude oil export and refined product import and contract finance for oil service companies ranging from simple hospitality to complex turnkey Engineering, Procurement and Construction, amongst other tailor-made treasury and cash management solutions.

Friday, February 28, 2020


9mobile the Nigeria’s leading creative telecommunication company has proven its tenacity over the years and has make headway into one of Nigeria’s most competitive network providers.

The brand is famed for its customer-oriented focus and has constantly devised innovative ways to meet and exceed customer expectations.

Below are seven (7) facts you should know about 9mobile.
True to type, 9mobile offers super-fast internet, and as such, the network provider continuously upgrades its network connectivity across the country. The telco currently offers the fastest 4G/LTE network to millions of customers across cities and towns in Nigeria.
In one of its latest moves, 9mobile further expanded its quality network across the country, to deepen 4G penetration across ten new cities. The company also upgraded LTE services in 6 existing cities, including Aba, Abuja, Nasarawa, Calabar, Enugu, Kaduna, Kano, Lagos, Minna, Onitsha, Owerri, Port Harcourt, Sokoto, Uyo, Aba and Ota. These cities can now enjoy uninterrupted 4G internet connectivity that works!
9mobile’s suite of data offerings, popularly called Moreblaze, is the preferred customer choice in the industry today, offering some of the juiciest subscription packages at unbeatable rates. The telco’s data offerings are as affordable as they come.
It is also important to note that it is not enough to offer affordable rates because value and experience are also crucial. 9mobile understands this fact and prioritizes Quality of Service (QoS).
Apart from offering a pocket-friendly and fast 4G/LTEnetwork, 9mobile also offers a broad range of value added services including digital media services, hosting services, unified communications, enterprise solutions, among other services to expand value options available to all categories of customers.
9mobile is very keen on developing robust infrastructure and IT support systems. As a result, the company has continuously assured of sustained investments in this regard.
“We are prioritizing network Quality of Service (QoS), Innovation and Customer Experience as part of our new strategic direction. The new financing we received in Q4 of 2019 is allowing us to inject new investments into our network and general infrastructure base. So, our customers are in for a great experience on our network,” Acting Managing Director, 9mobile, Stephane Beuvelet said at a recent event.
The management of 9mobile, led by Acting Managing Director, Stephane Beuvelet, is repositioning the company for long-term profitability and sustainability. Operations have been optimized to keep costs within healthy bounds and achieve target organizational structure for efficiency.
It is evident from the foregoing that 9mobile is poised to rise like the Phoenix to open its next phase

Buhari Suspends Chairman Of Presidential Amnesty Programme, Dokubo

President Muhammadu Buhari has approved the suspension of the Coordinator of the Presidential Amnesty Programme, Professor Charles Dokubo.
Also, the President has ordered that Caretaker Committee set up to review the programme take over its running henceforth.
A statement issued by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, said the suspension, which was recommended by the Caretaker Committee, which was set up by the National Security Adviser (NSA), takes immediate effect.
The NSA set up the Committee in response to the several allegations and petitions from groups and stakeholders from the oil-rich region against the administrative style of Professor Dokubo.
“Following numerous allegations and petitions surrounding the Presidential Amnesty Programme, the National Security Adviser (NSA) set up a Caretaker Committee to look into the activities of the programme, on the directive of President Muhammadu Buhari.
“Part of the Committee’s task is to ensure that allocated resources are properly utilized in consonance with government’s objective of alleviating problems in the Niger Delta region, and stamping out corruption in the Amnesty Programme.
“Consequently, the NSA recommended to Mr President that the Coordinator of the Amnesty Programme, Professor Charles Quaker Dokubo be suspended, a recommendation that has been approved and which takes immediate effect.
“The President has also directed that the Caretaker Committee set up to review the programme should oversee the running of the programme henceforth, with a view to ensuring that government objectives are achieved”, the statement said.


What exactly happened to your money and how did it happened?
It is sad. It is a nightmare that I am yet to get over. I will forever regret the day I decided to open an account with GTB. I had an account with Zenith Bank already, but I went to Ifo market one day and these ladies wearing GTB T-shirt were going after everybody in the market cajoling them with account opening form to have an account with the bank.
I collect the form thinking it won’t be a bad idea if I have two bank accounts. That was the beginning of my nightmare.
What happened next?
After a while, my account number was sent to me…and I later went to activate the accounts at their Sango Ota branch, after which I began my little transaction on the account.
How then did your money disappear?
My father is a very kind person, a lover of his children and very passionate about their future. Sometimes in July 2019, he had deposited N250, 000 in to my account number (04-23-86-07-36), for my university admission processes. In fact, it was at the peak of the crisis that I knew that the account which I thought I opened in Sango was actually domiciled at Ikotun Egbe, in Lagos State.
Precisely on Saturday, 20th of July, 2019, I received a text message supposedly from the bank on my phone to “upgrade some information on my account.” I innocently obliged and that was the genesis of the nightmare. Within 18 hours, the entire N250, 000 in the account was transferred to various accounts.
What did you do next?
The shock was too much for me. My father told me he kept the money in my account to keep it away from spending. So, I actually did not know how to tell him. I later confided in my Mum, who now followed me to the Bank in Sango to complain and to obtain the statement of account.
What did you see in the statement?
The statement of account obtained from the bank showed that on 20th July, 2019, the sum of N80, 000 was yanked off the account via POS/WEB Purchase Transaction 766634-134659-CASABELLA INTERNATIONAL. The next day, 21st July, 2019, there was an NIBSS Instant Payment of N5, 000 Outward to a First Bank of Nigeria, FBN Leramo AKinwumi Olamide. This was followed immediately of another N5, 000 to the same account.
The third transaction of the day was a double transfer of N50, 000 each NIBSS Instant Payment Outward to UBA/ Agbokun Ayoka. This was followed by another transfer of N20, 000; and N10, 000 respectively to the same UBA account of Agbokun Ayoka.
The last tranche of the fraud was a USSD transfer of N20, 000 to Amuokuyo Success Imengowen, leaving a paltry N2, 500 in the account.
That was how I lost everything!
What did you do after this?
My Mum eventually told my father. Though he took it calm, but I really pitied him. I initially ran out of the house, because I could not continue to face him. But he came to look for me and brought me home.
Later he told me he wrote to the Complaint Team of GTB, but nothing came out of it.
What lesson did you learn from this?
Lesson? It was my worst nightmare. I will never forgive GTB. In fact, the account is still there, I never bother to close it. They can eat it if they like. But vengeance belong to God. I know God will visit the bank and pay them back.


Speaker of the Lagos House of Assembly, Rt. Hon. Mudashiru Obasa, on Friday, called for calm among residents of the state following the detection of the first case of Coronavirus brought in by an Italian.

Obasa said the need by Lagos residents not to panic over the incident stems from the fact that the state government has always been proactive in relation to safety of lives.

According to the Speaker, prior to the confirmation of the first case of Coronavirus in Lagos, the state government had kept its antennae alert and had constantly enlightened the people concerning the health concern.

“Even though it is the most populous city in the country, Lagos state has always anticipated and taken steps ahead of events by equipping its medical facilities and making sure disease control centres are up-to-date with issues related to their field. This is why residents of the state should remain calm at this time.

“I can assure you that the executive arm of government is not relaxed and will continue with its concerted efforts to nip this concern in the bud.

“Be assured also that the legislative arm of the state government will do all within its powers to help the executive curtail the ailment since, as fortune would have it, we only have one recorded case,” Obasa said in a statement released by his media office.

The Speaker further noted that as had been stated by health experts and stressed by the federal and Lagos state governments, the ailment only causes mild illnesses that are easily treated and can only be severe if there are underlying chronic health challenges.

He urged the residents to support the state government to achieve its set goals by adhering to every instructions announced by the authorities “on how to take charge of our health, which is very important at this time.

“We are told to always wash our hands, stay a distance from those who are sneezing and coughing as well as other such simple instructions,” he said.

While calling for inspection to also commence at the nation’s sea ports, he urged residents to promptly report suspected cases adding that the Assembly would soon meet over the development.

He reminded Nigerians to call the federal government’s line: 0800-970000-10 and appealed to Lagosians call the state’s helplines: 08023169485 or 08033565529 or 08052817243 where cases are suspected.


A former Relationship Manager with Guaranty Trust Bank Plc, GTB in Enugu, Onyekachi Nwosu was on Thursday, February 27, 2020 convicted and sentenced to Eighteen (18) years imprisonment by Justice D.V. Agishi of Federal High Court, Enugu on a six (6) amended count charge bothering on forgery, altering and giving a loan with defective collateral brought against him by the Enugu Zonal office of the Economic and Financial Crimes Commission, EFCC.
Justice Agishi, in her judgement, ruled that the prosecution team led by Mashal Umukoro Onome Esq. proved their case beyond reasonable doubt and that the convict had failed to extricate himself from the self evidenced proofs before the court.
EFCC, in the course of trial, called eight witnesses and tendered several exhibits to prove their case.
The convict was found guilty on all six count charge and sentenced accordingly. On count one and two, he was sentenced to five; while he is to serve two years each on counts three, four, five and six. The cumulative eighteen years prison terms will, however, run concurrently.
Investigation by EFCC revealed several professional misconduct by Nwosu who took undue advantage of his position as a Senior Bank Supervisor and account officer to forge a document titled LETTER of SET-OFF which he used to illegally grant a loan of N34,900,000 (Thirty Four Million,Nine Hundred Thousand Naira) to a customer and his company from several fixed deposits of other customers without their knowledge nor consent.
He was also discovered to have altered several account documents of his friend whom he illegally granted loan as to enhance his Visa application to United Kingdom.

Nigerians Worried as iPhones Become Easier to Crack than Android Phones

Whether in Nigeria or global technology space, Apple iPhones are assumed to be superior to Android and other phones in terms of security and privacy, as such, more difficult to breach by either hackers or law enforcement agents. This is one of the main reasons iPhone users pay a lot more. In fact, Apple devices are known to be incompatible with general phone accessories just to ensure device security. And aptly, Apple focuses it's marketing on this key area.

However, the case has now proven to be the opposite and the extra spending appeared wasted currently.

This revelation came from a forensic detective Rex Kiser who works with the Fort Worth Police Department, US.

In an interview, Kiser said: “Right now, we’re getting into iPhones during investigation. A year ago we couldn’t get into iPhones, but we could get into all the Androids. Now we can’t get into a lot of the Androids; modern Android phones are now actually harder to break into than equivalent Apple devices."

"That’s not to say that these Android devices are unbreakable. It requires a different, more labour-intensive process to access", the detective noted.

This is supported by a look at smartphone cracking company Cellebrite’s effectiveness at breaking into different phones. Upon some tests, Cellebrite can now easily open up any iPhone X or earlier iPhone, but the same software used on a Google Pixel 2 or Galaxy S9 extracts very little information and nothing in some instances.

A recent report in The Washington Post also argued that Apple's secretiveness has backfired, with the result that you can't tell if a company or an intelligence service has breached an iPhone's security.

Many Nigerian iPhone users who spoke to TheConscience at the popular Otigba market, computer village area in Lagos during the investigation expressed serious concerns and fears in view of prevalent cyber attacks on mobile phones lately.

Caroline Maduka who uses an iPhone XS said she's deeply worried about the news and discovery, adding that the reason she pays more for iPhone for many years is stronger security and privacy. She added that she was currently using her fourth iPhone product.

Dayo Olapade, a mobile phone dealer urged Apple and iPhone dealers and handlers to quickly up its game as customers are already asking questions on the issue.

"In the last couple of days, many customers have asked questions about this security breach and weak points on iPhones. Apple must scale up security and privacy function on iPhones to reassure users who are currently worried."

A mobile phone technician who also confirmed the fears said he hopes that Apple do the needful quickly.

Chairman, Mobile Phone dealers at Computer Village was unavailable for interview.

 iStore is the local authorised dealer for iPhones in Nigeria

Mina Ladi Opens Shop In Lekki

Famous Lagos-based Entrepreneur, Writer and Brand Consultant, Tunji Suleiman, and his celebrity wife, Amina Ladidi Suleiman will play host to fashion stars, journalists, friends and associates in an elaborate unveiling of a new African, ceremonial high fashion label on Saturday 29th February, 2020.

The day, it was learnt, will be the birth of a new fashion brand in Lagos as the firm is known to have blessed wardrobes of celebrities and fashion conscious men and women in Abuja, Kano, Kaduna, Kwara and Zamfara with timeless, bespoke and affordable luxury outfits, attires and accessories. The new shop is to be opened in Lagos by 12pm  at Suite 17, Aaron’s Mall, Olubunmi Owa Street, Lekki Phase 1, Lekki, Lagos, Nigeria.

Highlights of the event includes Cocktail, Networking, Free Consultation for Brides, Shopping for Bridal Wears, Shopping for ready-to-wear as well as Shopping for accessories, like auto-gele, turbans and turbanators, hair fascinators and veils.

The event will also feature free bridal and other ceremonial wear consultation for 2020 brides- and grooms- and other celebrants-to-be.

Tunji Suleiman, who is also Chairman of Mina Ladi Luxury Enterprise, trading as Asooke by Mina Ladi, hints that the “unveiling of the new shop is for all to network with colleagues and friends, fashion models, celebrities and VIPs and offers opportunities for future social appointments and partnerships”.

Suleiman stated that the new fashion firm will offer fashion journalists lots of compelling media/PR packages.

“I urge my colleagues in the media to come, partake in the small chops, finger foods, drinks, and merriments to be provided at this epoch-making event and report the events in our various media organizations”, he said.

See The Two Women That Uses Dead Peoples Water To Cook Just To Attract Customers

Feb 26, 2020 5:00 AM
Two nigerian women based in delta confesses of how the uses dead peoples water to cook for people just to attract customers.
This two women confesses when the road closes on them on the 25th of February 2020

The confesses on how the use to go to different mortuaries to meet the mortuary attendance and pay them to be giving them the water the use in bathing dead people before putting them inside the mortuary
The ladies who said the have been on this business for 15 years now and the have hard alot of customers who cannot stay a day without eating their food,
According to them, the said we were doing this because that was the instructions given to us by the native doctor that did the charm for us, baba told us to always be cooking with dead people water so that we can be having alot of sales.
The end of the road comes when the went to a particular mortuary to buy the water and after explaining and striking a deal with the mortuary attendance neither did the know that the main boss of the place has been listening to them and he is their regular customer that can't stay a day without eating from them.
The man quietly alerted the attention of the police to come get them before the could escape.
The two women currently are in the police custody, after the were interrogated and found guilty by the police.
Every evil has an end please share this post to as many as possible for them to know were the eat and drink,
Please what should be done to this ladies??
Comment and share

Magun’ (Thunderbolt) Strikes Robber Dead Minutes After Raping Robbery Victim

‘Magun’ (Thunderbolt) Strikes Robber Dead Minutes After Raping Robbery Victim
•By Dare Ojelade, Lagos
An armed robber has fallen victim of the dreaded thunderbolt, Magun, losing his life after raping his victim, The Gazelle can report.
The man, The Gazelle gathered, robbed his victim but his eyes could not resist her nakedness, hence proceeded to rape her.
The robber, 28 years of age called Gbaga, started rolling on the floor after having forced sexual intercourse with the lady.
He later started demanding for water.
The Gazelle reports that the woman ran out to seek for help but before help comes, Gbaga had given up the ghost.
Gbaga, The Gazelle reports further, gained entry into the woman’s room and parlour self-contained apartment at Ori Okuta in Agric area of Ikorodu around 3am in the early hours of Thursday, 27 February, 2020.
One locally made pistol and charms of various sizes which the armed robber came with was recovered at the crime scene.

The Lagos state government and the federal ministry of health have confirmed the first case of coronavirus in Nigeria.

In a statement by Akin Abayomi, the state commissioner for health, the case is an Italian citizen who entered Nigeria on the 25th of Feburary from Milan, Italy for a brief business visit.
According to a statement by Osagie Enahire, the federal minister of health, the case was confirmed by the Virology Laboratory of the Lagos University Teaching Hospital, part of the Laboratory Network of the Nigeria Centre for Disease Control.
The minister advised that citizens must not abuse social media and indulge in spreading misinformation that causes fear and panic.
“The Federal Ministry of Health, through Nigeria Centre for Disease Control, will continue to provide updates and will initiate all measures required to prevent the spread of any outbreak in Nigeria,” he said.

things to do now that coronavirus is in Nigeria

On Thursday, the Lagos state government and the federal ministry of health confirmed the first case of coronavirus disease (COVID-19) in Nigeria.
The novel case was found in an Italian on a business visit to Lagos, Nigeria. He has since been quarantined and is being managed at the Infectious Disease Hospital in Yaba, Lagos.
Here are seven things we at TheCable believe you should do now that coronavirus is in Lagos, Nigeria.


The first thing to remember is that there is no need to panic. Global health emergencies only get worse when humans panic and make the wrong decisions in time of crisis.
With COVID-19, there is absolutely no reason to panic; more than 30,000 people have recovered from the disease in 2020 alone.
Nigeria fought and overcame Ebola Virus Disease (EVD) by the cooperation of the state and federal government. It should be noted that Ebola is a deadlier disease than coronavirus; COVID-19 kills only 2.3 percent of its patients, while Ebola kills about 90 percent of those infected.
COVID-19 not as deadly as Ebola, which Nigeria overcame in 2014. Hence, there is really no need to panic.


The federal ministry of health advises that you regularly and thoroughly wash your hands with soap and water. It is also necesary to use alcohol-based hand sanitiser.
Where possible have a routine for washing you hands. Do it again, and again.


Maintain at least one and a half metres (5 feet) distance between you and anyone who is coughing or sneezing. Coughing and sneezing are part of the major symptoms of coronavirus.
According to the World Health Organisation, when someone coughs or sneezes they spray small liquid droplets from their nose or mouth which may contain virus.
If you are too close, you can breathe in the droplets, including the COVID-19 virus if the person coughing has the disease.


People coughing persistently or sneezing should stay indoors or keep a social distance, but not mix with a crowd.
We understand how difficult it is to avoid crowds in a small city with an estimated 21 million people, but you have to keep safe regardless of the city’s peculiarities.
Anyone coughing or sneezing persistently is advised to seek medical assistance as soon as possible.


Ensure that you and people around you follow good respiratory hygiene by covering mouths and noses with a handkerchief or tissue while sneezing or coughing.
You can also sneeze or cough into your sleeve at the bent elbow. Then dispose of the used tissue immediately.
Droplets spread virus. By following good respiratory hygiene you protect the people around you from viruses such as cold, flu and COVID-19.


Stay indoors if you feel unwell with symptoms, such as fever, cough and difficulty in breathing. Please call Lagos State Emergency hotlines 08023169485 or 08033565529 or 08052817243 which are available day and night.
You can also call NCDC toll free number which is available day and night, for guidance- 0800-970000-10.
Do not engage in self-medication.


Stay informed on the latest developments about COVID-19 through official channels on TV and Radio, the Social Media, including the Lagos State Ministry of Health, NCDC and Federal Ministry of Health.
While doing this, be careful to avoid misinfornmation — get your news from the most credible news outlets in the country. You can always count on TheCable.
Coronavirus can be treated if you report as soon as possible.

Thursday, February 27, 2020


Ecobank Nigeria wishes to provide its position on a statement released by the Federal Inland Revenue Service (FIRS) on the judgement of the Tax Appeal Tribunal (TAT), sitting in Lagos in respect of disputed tax liability between the Bank and the FIRS for the 2015 financial year.
For purposes of clarity, the decision of the TAT was for the Bank to pay excess dividend tax on the dividend sum of N5,545,000,000 declared by the Bank from its 2015 financial accounts. Based on the decision of the TAT, the excess dividend tax liability is N1,311,673,367 and not N1.6 billion.
The Bank will be appealing to the Federal High Court against the decision of the TAT as it believes, based on advise from its professional consultants, that the dividend declared relates to income from sources which are statutorily exempt from tax by virtue of the Companies Income Tax ( Exemption of Bonds and Short Term Government Securities) Order, 2011. Whilst the bank is always open to engagement, its position is based on the principle that income established to be exempt from companies income tax should not contrary to the intendment of the law, be subjected to the same tax it was intended to be exempt from.

Ecobank Nigeria is a member of the Ecobank Group, the Pan-African Bank which is proudly and fully committed to transparency in all the countries where it operates.
We abide by laws and regulations and believe that this matter should be conclusively determined in line with the applicable judicial process.


IFC, a member of the World Bank Group, has announced a $25 million local-currency investment in a risk-sharing facility to expand Union Bank’s lending to small and medium enterprises (SMEs) in Nigeria. The facility, which will cover as much as 50 percent of risk of the bank’s loans to entrepreneurs, aims to help Nigerian businesses grow and create jobs.
With IFC’s support, Union Bank plans to offer more products and services to women-owned businesses, especially in Nigeria’s conflict-affected Northern and Delta regions, where entrepreneurs face particularly difficult challenges accessing finance, and more than half the population is excluded from the financial system.
According to the Chief Executive of Union Bank, Emeka Emuwa: “Union Bank continues to develop sustainable products and services that promote enterprise and address poverty and financial inclusion. This is in line with our commitment to support the communities within which we operate. The IFC facility is a welcome development which will further deepen our efforts to support Nigerian SMEs and women.”

Also commenting on the initiative, Eme Essien Lore, IFC’s Country Manager for Nigeria said;  “IFC’s risk sharing facility will help Union Bank increase its focus on Nigeria’s underserved areas, positioning it as one of the leading banks that provides customised services to SMEs that are driving job creation and growth across the country.”

How Chief Leemon Ikpea's Wife is Hell bent On Destroying Him

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