Category: Uncategorized

  • Tinubu Swears-in Muttaqha Darma As Minister Of Housing

    Tinubu Swears-in Muttaqha Darma As Minister Of Housing

     

    President Bola Tinubu on Friday administered the oath of office to Dr Muttaqha Rabe Darma from Katsina State as the new minister of housing and urban development, following his Senate clearance.

    He replaced Ahmed Musa Dangiwa, who recently resigned.

    President Tinubu, at the short ceremony at the State House, congratulated Dr Darma for coming on board at this “very challenging time of national development.

    “You have a very rich and interesting background. As a leader, we need competent hands like yours.

    “There is no doubt that you have rendered valuable services in all the assignments you have embarked upon; You are a fitting peg in the right position,” he said.

    The President told him to be ready to serve in any capacity in which he is called upon.

    Dr Darma is a distinguished Nigerian scholar, administrator, and development expert who holds a Doctor of Business Administration degree from the University of Liverpool and a PhD in Industrial Engineering from Atlantic International University, USA.

    He graduated with a Bachelor’s degree in Mechanical Engineering from Bayero University, Kano, and later earned a Master’s in Manufacturing Engineering from the University of Benin.

    A member of the Nigerian Society of Engineers and the Nigerian Institute of Management, Dr Darma served as Executive Secretary of the Petroleum Technology Development Fund from 2008 to 2012. Thereafter, he held key positions, including Commissioner for Works, Housing and Transport, and Commissioner for Rural and Social Development in Katsina State, among others.

    He has also contributed to academia as a lecturer at Bayero University, Kano.

  • ‘Our roads no more motorable’ – Ogbomoso residents appeal to Makinde, others

    ‘Our roads no more motorable’ – Ogbomoso residents appeal to Makinde, others

    Residents of Orisunmibare Pakiotan in Ogbomoso North local government area, Oyo State, have declared that the roads linking the community with other parts of the town are no more motorable.

    The residents appealed to the State government under the leadership of Engineer Seyi Makinde, the local government Chairman and other concerned authorities to come to their aid.

    DAILY POST reports that the community is located behind Ayanyan Cattle market and Ogbomoso Government Reserved Area along the new Ogbomoso/ Ilorin Expressway.

    The residents lamented that the roads had become an eyesore.

    A community leader, Dr Tobi Fajobi called on the State and local governments to come to their rescue.

    Fajobi, who spoke on behalf of other members of the community on Friday, regretted that all the roads within the community were no more motorable.

    He said, “We call on both the state and Ogbomoso North local governments to come to our aid in fixing this road and bridge.

    “It is a new community with a large population and houses. The road is highly dilapidated, hence hindering free flow of traffic.

    “Ideally, we should spend just 2-4 minutes to the junction, but due to the poor state of the road, we spend more than 15 minutes.

    “The alternative routes are not also reliable as they’re not in good conditions apart from being too long to ply. We, therefore, appeal to them to assist us by urgently intervening.

    “Since the state government’s contractors are presently doing good jobs in Ogbomoso, rehabilitating and constructing new roads and bridges, our plight should be considered”.

    ‘Our roads no more motorable’ – Ogbomoso residents appeal to Makinde, others

  • How My Sister Died After Doctor Forgot Scissors In Her Stomach

    How My Sister Died After Doctor Forgot Scissors In Her Stomach

     

    Beady Nnanna, a producer and publisher, tells Punch Newspaper how her sister, Blessing Okolie, lost her life due to medical negligence by a doctor, who allegedly left a pair of scissors in her stomach during fibroid surgery at a private hospital in Lagos State

    Tell us about yourself.

     I’m a media personality, the producer of Beadysworld TV and publisher of Beadysworld Blog News. I’m also an influencer and social activist.

    What is your relationship with the late Blessing Okolie?

    She was my sister.

    How old was she?

    She was 44 years old.

    What led to her initial visit to the hospital?

    She had a fibroid, and it was very big, as if she was pregnant. Even when people saw her, they mistook her for being pregnant. That fibroid was really disturbing, and she was married.

    But the husband left her because of that fibroid. She couldn’t give birth to a child. So, the last time the mother tried to call the man to know why they were having issues, the man said to her, “You know that your daughter has a problem with fibroids.”

    He said it as if having a fibroid had become a crime. For almost two years, the husband did not show any concern, so the situation got her worried, and she really wanted to remove the fibroid to see if she could have a child.

    In December 2025, we took her to the Air Force Base Hospital, but she declined. She said she didn’t want to go there and that she wanted to go to a particular hospital at Igoke Estate, around Abule Egba, Lagos State.

    I asked her why she wanted to go there because I felt that the hospital was not standard enough, but she said the hospital was good and that someone who had done the surgery there before recommended the place to her.

    I objected to her idea because I just couldn’t understand why she would leave a good hospital for a non-standard one.

    What happened at the hospital?

    On March 27, 2026, she came to my house, and we drove to the hospital. Meanwhile, that was the first time I would visit that medical centre. We saw the doctor standing outside, but I was not happy, and I was not satisfied with what I saw there.

    Blessing kept telling me that I should not bother myself and that the doctor was good. After a while, they gave us a ward where we slept till the next morning.

    What were you not satisfied with about the hospital in the first instance?

    The hospital was not standard. Looking at everything there, it didn’t look standard at all. So, on March 28, very early in the morning, they came to call her that it was time for her to enter the theatre.

    Then she went there at exactly 7:22 am, and we were there till 11:49 am. She had the surgery, and it was okay, and they brought her outside the theatre, where there was a bench, and they laid her there.

    She was there, and she didn’t even notice anything. I was the one who cleaned her mouth because she was already tired. When I asked the doctor what was wrong, he said she would come up and that I should keep calling her name.

    So, if I called Blessing, she would respond by opening her eyes slightly, but she was not talking. We were there for about four to five hours, and they said they wanted to give her tea and milk to drink, but I objected.

    I challenged them on how they would give tea and milk to someone who had just had that kind of surgery. The lady called Oloma, whom she said introduced her to the hospital, said they also gave her the same tea when she had her surgery, but I insisted.

    I then said that if they needed to give her anything, they should give her Lipton and hot water instead. They said she needed the energy to climb up the staircase because their theatre was downstairs, while the ward was upstairs.

    What happened thereafter?

    The nurse and the other lady, Oloma, took Blessing out of the theatre and gave her the tea. So, I requested that they let her rest very well. After a while, around 8:30 am, they came back and said they wanted to take her upstairs.

    I was surprised that they could allow someone who had just had surgery to walk. Normally, she was in pain because it is a normal thing for somebody who has just gone through surgery to feel pain.

    Nnanna

    At what point did you begin to sense that something was seriously wrong after the surgery?

    On Sunday, Blessing started talking, and people came to visit her. On Monday, she was still talking, but she was complaining of a particular pain in her abdomen, and by Tuesday, things had changed.

    On Wednesday, her stomach started swelling up. I called the doctor and asked what the problem was, but he said there was nothing. I refused to listen to him and insisted that something was wrong because her stomach had swollen.

    So, I asked that we do a scan to find out why the stomach was swollen, but the doctor insisted that there was no problem. They gave her an injection and set a drip for her.

    Yet, on Wednesday and Thursday, the stomach was still swelling, and I kept clamouring that we should do a scan. But they said there was nothing in her stomach and accused me of trying to teach them their job.

    Then they said what if they did the scan and nothing was there? I responded that I just needed to be sure because I was not satisfied with the way her stomach was swelling. I was bothered because of that.

    How did you discover that there was a pair of scissors inside her stomach?

    I never thought of scissors when she was complaining about that pain in the side of the stomach. I was even thinking that they had harvested one of her organs, so I kept begging for a scan, but they refused.

    She had the surgery on Saturday, and almost a week after the surgery, she was still in serious pain. They then brought out a pipe, put it in her nose, and started draining something greenish out of her stomach.

    I said, “Doctor, let’s have a scan.” But they kept saying, “What is wrong with this woman? Do you want to teach us our job?” I told them that I just wanted to be sure that nothing was wrong. Blessing’s health worsened to the point that she couldn’t even stand up.

    At one point, they said we should stop giving her anything. We even stopped giving her water, and she was there without water or anything. That was for ten days after the surgery.

    So, a new doctor came there to see her, and it was the first time I saw him. He asked me questions, and I started explaining to him. That was when I realised that those people did not even have products for patients.

    After I explained to the doctor that I had been asking for a scan to be done for over a week, he said they should get the scans done on her. That was how they gave me a letter to go do the scans elsewhere.

    When I got to the lab where they asked me to go, I was told that they had not been doing it for over two years. So, the nurse who came with me said we should go back.

    I was angry and didn’t know when I said, “Are you mad? Go back to where when I came out of this hospital without a scan?” We then went to Clinix, where we did the scan.

    What did the scan detect?

    They did the scan and gave it to me. We paid over N90,000 for it. When I read the result, it stated that a metal was inside her stomach below her abdomen.

    At that moment, I cried and drove Blessing back to the hospital. One of the people who did the scan asked me to take her back because her condition had already worsened.

    How did the doctor react at the hospital when you showed them the result of the scan?

    They were ashamed of themselves. I could see the surprise and shame all over them, but I didn’t say anything.

    What explanation did they give for the medical error after seeing the result from the scan?

    They did not say anything, and I was just looking at them. I could have escalated it to their management, but the owner of the hospital was not around. The only doctor around was the one I gave the result to.

    Then they came to her ward and said they needed to wheel her into the theatre again. I asked them why, and they said they needed to open the surgery again. That was someone who had not taken water or food for over five days, and she was already weak.

    Then I asked why they didn’t refer us to a big hospital like Lagos University Teaching Hospital, Federal Medical Centre, or Lagos State University Teaching Hospital. But they said no and that she would be fine.

    Then she was wheeled into the theatre for the second time, but I wasn’t even sure she could withstand it because she was already weak.

    Was she placed on oxygen?

    On April 7, they wheeled her into the theatre again, and the surgery was carried out, and they said they had removed what was in her belly.

    Hearing that, I expected that there should be a difference and her health should improve, but on April 8, there was still no difference, and she was still the same. I said again that they should refer us to another big hospital, but they kept saying that she would be fine.

    At that point, I was very worried because the green substance was still coming from her belly. The next day, she deteriorated, and they put her on oxygen. I kept telling them to refer us because I saw that they could not handle it, and any time I said that, they would make me feel like I was being troublesome.

    I asked one of the doctors, who said she would get better, but her intestines were weak. I shouted because her intestines became weak because of the scissors that were left in her stomach for 10 days.

    On Friday, I was already weak, so I decided to go home. When I told Blessing that I was going home to freshen up, she begged me not to leave her, but I promised her that I would return.

    So, I went home and got back to the hospital around 11 pm. When I saw her, I knew she was not herself, and I called the hospital staff. But I found out that they didn’t even know what to do.

    They were always trying to manage things, so they went to bring oxygen for her again. Immediately she was placed on oxygen, the light went off.

    I asked them to turn on the generator, and they said they didn’t have fuel. I became uncomfortable and started shouting because it was a few minutes before 3 am. I thought they were going to leave her till daybreak.

    Then I threatened them that I would burn down the hospital if they didn’t take my sister out of there. That was when they gave me a letter around 3 am. I told the doctor to follow us, but he refused, saying he could only follow if it was an emergency.

    I asked, “Is this not an emergency? Are you not supposed to give us an ambulance and a doctor or a nurse to hand us over?”

    But the doctor said no and that maybe a nurse would go with us. Then they called Mr Abiodun, the owner, who told the nurse not to follow us. The doctor on duty also told the nurse to remove the drip.

    I was so angry, so I beat the nurse out of the car. When the doctor came, I confronted him and asked why they wanted to remove the drip at that hour.

    After the altercation, they left my car, and I carried my sister with no medical support around Abule Egba and went to LASUTH. When we got there, they said there was no space. I begged them to treat her in my car, but they refused.

    Then I started making calls, and someone hinted that we should take her to the O&G Medical Emergency at LASUTH, so they started treating her.

    They attended to her, but bureaucracy and protocols affected us. They began treatment a few minutes to 4 am and said she would be admitted to the ICU.

    How much did you pay at the hospital?

    We paid N1.2m, aside from over N1m spent on drugs and tests. At the first hospital, we also spent a lot.

    For injections and tablets, there was one we bought for N27,000, and we bought five or six at a time. They charged N650,000 for the surgery.

    That Sunday, we bought drugs of N180,000 each and another of N250,000. But early the next morning, they called us and said her heart had stopped.

    They said they tried to revive her, but she passed. I begged them to resuscitate her again, but they couldn’t. That was how my sister died.

    Looking back, what do you think could have been done differently to save Blessing?

    If they had done a scan the second day after the surgery, they would have detected the object earlier, and she might have survived. But most of her organs were already infected before the scissors were removed.

    Has she been buried?

    No, she is still in the mortuary.

    Did you report the inconsistencies at the first hospital to the police?

    Yes, I did.

    Have you received any update from the police yet on the case?

    No, we have not. They sent us to Zone 2 instead.

    What kind of justice do you seek for your sister?

    Despite the hospital knowing that my sister had died, they did not even bother to reach out. We personally called them, but till today, the doctor has not shown up.

    That hospital needs to be shut down. My sister is dead now, but I don’t want others to experience what she went through. That is why I am clamouring for justice. The government needs to investigate and shut down the hospital.

    We await autopsy report on Blessing Okolie’s death — OAR Medical Director

    Dr Abiodun Ojifinni, Medical Director of OAR Medical Centre, Abule-Egba, Lagos State, speaks to AYOOLA OLASUPO about the allegation that the death of one of their patients, Blessing Okolie, was caused by complications developed after a pair of scissors was left in her stomach during a myomectomy (surgery for the removal of fibroid)

    Is it true that Blessing Okolie had a fibroid removal surgery at your facility?

     Blessing Okolie had a myomectomy, which is a surgery for a fibroid in our facility on the 28th of March 2026. She was fine initially but a few days after the surgery there were complications of sepsis, which is a bacterial infection, after the surgery.

    We were managing the situation until the family, especially Beady, asked for a referral because she wasn’t satisfied with the progress her sister was making on treatment. At her insistence, we referred her to the Lagos State University of Teaching Hospital, where we later learnt that she passed on after a few days of admission.

    We actually commiserated with the family. At this time, I think it was a good time to start addressing the half-truths and the falsehoods that have been circulating on social media.

    She claimed that Blessing’s health condition had already worsened before your facility eventually granted her request to be transferred to another hospital. What can you say about that?

    Those are the half-truths and falsehoods I’m talking about, and I’m saying that in order not to offend the sensitivity of the people who have lost a loved one, especially in respect for the departed person, we should actually wait.

     There is an autopsy request that was made at the Lagos State University Teaching Hospital. The real cause of death will be spelt out in histopathology. That is the most authentic cause of death test that we all should wait for. We enjoined Ms Beady to take things easy and find a way of talking to her.

     I know she still hurts by the turn of events at the end of the day. We did not want anything to happen to any of our patients. She might not remember that Blessing was actually a friend, apart from being a patient in my hospital. So, we are eagerly awaiting the results of the autopsy. As you know, when something is awaiting a coroner’s inquest, then we have to wait and hear from the pathologist.

    Beady also said that another surgery was performed on Blessing at your facility after the scan detected that a metal was inside her belly. Is it true that the metal was a pair of scissors?

    This is why I said that, for the reasons of not exchanging words that will offend the sensitivity of the people who are mourning at this time, we should wait and let the results of the coroner’s inquest be published. Then, we can come back and talk about this.

    It is in the interest of everybody because it is not right to have a government agency handling this issue.

    It amounts to prejudice to start talking about it this way. But I really appreciate the effort you took to talk to me about it. Please, I am open to any discussion about it when the coroner’s inquest is published.

    Are you saying that the state government is currently on the matter?

     Yes, the late Blessing departed at LASUTH, and part of their requirements is that once there is a controversy in the cause of death, they will go ahead to do a coroner’s inquest, and that is what everybody is waiting for. We all should talk to Beady to take things easy, and let’s look at the natural cause of death together.

    Punch 

  • Serie A: ‘I’m disappointed by Lukaku’ – Napoli manager, Antonio Conte

    Serie A: ‘I’m disappointed by Lukaku’ – Napoli manager, Antonio Conte

    Napoli manager, Antonio Conte, has insisted that he was disappointed with striker Romelu Lukaku.

    Conte spoke following Napoli’s 4-0 win against Cremonese in the Serie A on Friday.

    Recall that Lukaku is facing disciplinary action for skipping the club’s training.

    Napoli is considering taking legal action against the Belgian after he failed to report for training some days ago.

    Lukaku had spent the last international break in Belgium while recovering from injury.

    Speaking on the development, Conte told DAZN, “I’m disappointed by Romelu Lukaku. He didn’t even come to say hi to me. I didn’t speak to Romelu.

    “He was there, close to my office, and we didn’t talk. I was not expecting this situation.”

    Serie A: ‘I’m disappointed by Lukaku’ – Napoli manager, Antonio Conte

  • Pastor Chris Okafor’s ‘cyberstalking’ Suit Stalls Over Actress Doris Ogala’s Absence

    Pastor Chris Okafor’s ‘cyberstalking’ Suit Stalls Over Actress Doris Ogala’s Absence

    Pastor Chris Okafor’s ‘cyberstalking’ suit has stalled over actress Doris Ogala’s absence

    The actress was sued by Chris Okafor, founder of the Mountain of Liberty and Miracle Ministry, and was later arraigned on a four-count charge.

    The charge includes publishing personal materials without consent, dissemination of false information, cyberbullying, and attempted extortion.

    However, the case was stalled on Thursday after Ogala failed to appear in court.

    During the proceedings, prosecuting counsel Tolulope Mokuola drew the court’s attention to Ogala’s absence and applied for a bench warrant, noting that she had been duly served with the hearing notice.

    In response, Temiloluwa Akindayini, Ogala’s lawyer, said she was absent due to health reasons, adding that she underwent surgery two days earlier.

    “My Lord, the defendant is indisposed, having undergone a surgical procedure on April 21, 2026,” he said.

    “She is currently in Abia state recuperating. An affidavit to that effect has been filed before this honourable court.”

    Mokuola, however, faulted Akindayini for failing to notify the prosecution ahead of the hearing by serving the affidavit, and questioned the authenticity of the medical report presented by the defence.

    Akintayo Aluko, the presiding judge, declined the application for a bench warrant, adding that Ogala should be given the benefit of the doubt, especially as an affidavit had been presented before the court.

    The prosecuting counsel also urged the court to ensure that any subsequent medical report is issued by a government hospital and that the defence be held accountable if Ogala fails to appear at the next adjourned date.

    The next hearing has now been fixed for June 9.

    The court had earlier barred Ogala and social media activist VeryDarkMan from making references to Okafor and his ministry on social media platforms.

    Ogala had alleged she was in a relationship with Okafor from 2017 and ended her previous marriage at his urging, accusing him of later betraying her despite promises of marriage.

    She demanded he either marry her or pay compensation, eventually seeking N1 billion in damages.

    Amid the dispute, Okafor married Pearl, initially dismissing Ogala’s reaction as “the devil’s anger”.

    He later apologised and acknowledged their past relationship, but subsequently retracted the apology, claiming he was under pressure.

  • Edo State CP Reacts To Governor’s Hype Man Comments In Viral Video

    Edo State CP Reacts To Governor’s Hype Man Comments In Viral Video

     Statement issued by Edo State Police Command 

    The attention of the Edo State Police Command has been drawn to a viral video circulating on social media, showing the Commissioner of Police, Edo State Command, CP Monday Agbonika, fdc, on official duty. In the video, one Emmanuel Eghogho, a comedian, was seen making certain remarks. 

    The Command wishes to state unequivocally that the comments made in the video by the said Emmanuel Eghogho are entirely those of the individual and do not in any way reflect the views, position, or disposition of the Commissioner of Police or the Edo State Police Command. At no point did the Commissioner of Police endorse, adopt, or align himself with the remarks made.

    For the avoidance of doubt, CP Monday Agbonika, fdc remains a thorough professional and a non-partisan officer who is fully committed to the constitutional mandate of the Nigeria Police Force. 

    It will be recalled that the Command had earlier called on all political parties, their supporters, and the general public to conduct their political activities peacefully, lawfully, and without hindrance. The Command reiterates that every individual and group is free to pursue their legitimate political interests in accordance with the law.

    However, the Command wishes to strongly warn that any act of violence, incitement, thuggery, or any conduct capable of undermining public peace and security will not be tolerated under any guise. Anyone found engaging in acts capable of breaching public order will be dealt with decisively in accordance with the law.

    The Edo State Police Command remains steadfast in its commitment to maintaining peace, public safety, and the protection of democratic processes across the State.

    ASP ENO IKOEDEM

    Police Public Relations Officer

    For:

    COMMISSIONER OF POLICE  

    Edo State Command.

  • War: US actions in Iran, Venezuela driven by oil interests – Russia

    War: US actions in Iran, Venezuela driven by oil interests – Russia

    Russian foreign minister, Sergey Lavrov has said that US military actions in Iran and Venezuela are driven by a desire to control oil resources.

    Speaking during an interview with state media, Lavrov said the US prioritises its own economic interests and is willing to use measures such as coups or targeting foreign leaders to secure access to natural resources.

    According to him, the US has a doctrine of dominance in global energy markets and does not hide that oil is a key factor behind its interventions.

    The Russian foreign minister also slammed what he described as the erosion of international law.

    He argued that global decisions are increasingly shaped by power rather than rules.

    ” America’s actions in countries like Iran and Venezuela are driven only by oil interests,” Lavrov said.

    War: US actions in Iran, Venezuela driven by oil interests – Russia

  • UBA Total Assets Grow By 9.4%, Repositions Balance Sheet For Sustainable Growth

    UBA Total Assets Grow By 9.4%, Repositions Balance Sheet For Sustainable Growth

     

    Africa’s Global Bank, United Bank for Africa (UBA) Plc has announced its audited financial results for the year ended December 31, 2025, recording total assets growth of 9.4 per cent to N33.2 trillion up from N30.3 trillion at the end of 2024, alongside an 11.8 per cent increase in customer deposits from N24.3 trillion in 2024 to N27.2 trillion. 

    The results released to the Nigerian Exchange Limited on Friday, showed that the Group also delivered strong gross earnings of N3.09 trillion from N3.19 trillion recorded the previous year. Although recording a slight drop in gross earnings, the performance was still strengthened by resilient core business fundamentals and a diversified Pan-African footprint, even as the year reflected a strategic repositioning of its balance sheet for sustainable long-term growth. 

    Overall, the bank’s 2025 performance was impacted by prudent and forward-looking risk management decisions, including loan loss provisions of N331 billion and fair value changes on derivatives amounting to N278 billion. 

    These changes which are largely non-recurrent in nature, weighed on profitability but are not expected to recur at similar magnitudes in future periods. 

    Despite this, the Group maintained strong underlying performance, with operating profit exceeding N1 trillion before these exceptional items, highlighting the resilience of its core banking operations.

    A critical look at the performance showed that UBA’s capital position remained robust, with shareholders’ funds rising to N4.25 trillion in 2025; up from N3.42 trillion the previous year, with share capital and premium hitting N505 billion following a very successful rights issue. 

    The Group’s capital adequacy ratio of 23.2 percent provides a solid foundation to support future growth, just as the Bank has also strengthened its recovery efforts, with a fortified recovery team aggressively pursuing delinquent exposures, ensuring that recoveries will positively impact earnings from full year 2026 and beyond.

    Operating in 20 African countries and in the US, UK, France and UAE, the Group’s Pan-African operations continue to be a major growth driver, contributing over 50 per cent of total assets, revenue, and profit. Notably, West Africa operations recorded a 53 per cent profit growth, while East and Southern Africa delivered a 61 per cent increase, reinforcing the strength and scalability of UBA’s diversified business model across the continent.

    Commenting on the results, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said, the bank continues to demonstrate the true strength of its Pan-African diversified model, despite the moderation in bottom-line performance compared to the prior year’s highs, as core business engines, especially in the subsidiaries outside Nigeria delivered double-digit growth. 

    “The 2025 financial year was defined by UBA’s proactive approach to the Central Bank of Nigeria’s (CBN) new recapitalization requirements. The Group successfully concluded capital raising programme, which was oversubscribed, reflecting strong investor confidence in UBA’s long-term growth strategy. A total of N395 billion additional capital was raised, enhancing our capacity to support our footprints, and expanding lending to key sectors.” 

    Continuing the GMD said, “We have also made significant investments in innovation, technology and resources to drive our payment and digital offerings; this will help scale digital-led income streams across our markets.”

    In his forecast for the 2026 financial year, Alawuba stated, “Looking ahead, UBA is well-positioned to accelerate growth, with plans to strategically expand its risk asset base across key sectors as macroeconomic conditions improve. With expectations of over N1 trillion in additional growth in the near term, the Group remains committed to driving sustainable earnings, deepening financial inclusion, and delivering superior value to shareholders across all its markets.”

    On his part, UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the 2025 financial year marked a deliberate strengthening of the balance sheet and a shift toward more sustainable, higher-quality earnings in a normalizing macroeconomic environment. 

    “We believe that proactively recognizing potential credit losses positions us well to navigate uncertainties and support sustainable performance in future periods. The reversal of prior-year derivative gains and foreign exchange-related losses of N282.5 billion drove a decline in non-interest income; these will not recur in this magnitude and should result in future earnings upside,” he explained. 

    According to him, despite the impact of these changes on profitability, the bank’s core business fundamentals as well as its capital and liquidity positions remain strong, with shareholders’ funds now at N4.25trillion and capital adequacy ratio at 23.2 per cent, having exited the CBN forbearance regime in 2025. 

    “With deliberate steps we have taken to reposition our Nigerian operations, we are well placed to cautiously drive risk asset growth in line with improving macroeconomic conditions. The bank is also intensifying recovery efforts on the provisioned loans, creating a clear pathway for earnings upside,” Nwaghodoh explained. 

    United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technolog

  • Ceasefire: No planned meeting with US in Pakistan – Iran

    Ceasefire: No planned meeting with US in Pakistan – Iran

    Iran has clarified that there is no planned meeting with the United States in Pakistan.

    Iranian Foreign Ministry spokesperson, Esmaeil Baghaei, made this known in a post via X on Friday.

    According to him, there are no plans for a meeting between Iranian and US negotiators in Pakistan.

    “No meeting is planned to take place between Iran and the US. Iran’s observations would be conveyed to Pakistan,” Baghaei wrote.

    Baghaei reiterated that Iran’s Foreign Minister, Abbas Araghchi, is in Pakistan to meet with Pakistani officials in concert with their ongoing mediation and good offices for ending the American imposed war of aggression and the restitution of peace in our region.

    The spokesman’s statement added yet another mixed signal to a week full of uncertainty over the status of peace negotiations.

    Meanwhile, the White House earlier said that Jared Kushner and Steve Witkoff would travel to Pakistan on Saturday to engage in direct talks with the Iranians.

    Ceasefire: No planned meeting with US in Pakistan – Iran

  • US sanctions Iran’s oil trade network in China

    US sanctions Iran’s oil trade network in China

    The United States took additional action against Iran’s oil trade on Friday, a move to further disrupt Tehran’s primary income avenues.

    The decision affects a major Chinese refinery, Hengli Petrochemical, and nearly 40 other targets, including vessels and their owners or managers.

    The refinery is part of the Hengli Group, a company active in oil refining, petrochemicals, polyesters, and textiles. It operates the world’s largest terephthalic acid factory.

    Washington says the latest action by the Department of the Treasury cuts revenue streams that fund Iran’s “destabilizing activities across the Middle East.”

    The U.S. expressed resolve to ensure Tehran cannot use “illicit oil revenues to advance its malign agenda” while Iranians suffer “economic mismanagement and repression.”

    This week, the U.S. sanctioned 12 people and entities that operate procurement networks supporting Iran’s UAV and ballistic missile programs, as well as Mahan Air.

    The American government also identified two aircraft as blocked property of Mahan Air, which previously transported IRGC operatives, weapons, equipment, and funds.

    The State Department said the action conforms with the UN sanctions and restrictive measures on Iran, reimposed due to “significant non-performance” of its nuclear commitments.

    Treasury Secretary Scott Bessent has projected Kharg Island storage will be full “in a matter of days” and expects Iranian oil wells to be shut in.

    The official warned that any person or vessel facilitating flows through covert trade and finance risks exposure to punitive actions by the United States.

    US sanctions Iran’s oil trade network in China