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FirstHoldCo Announces FirstBank Has Met ₦500 Billion Regulatory Capital Requirement

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FirstBank has announced that its FirstEdu product designed to put schools at an advantage in the financing of capital projects such as the acquisition of new property, school expansion and reconstruction has been remodeled to a period of up to a maximum tenor of 48 months.

Shareholders commit to future injection of more capital to the Groups’ other subsidiaries

 

First HoldCo Plc (“FirstHoldCo” or “the Group”) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion. This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.

This successful capitalisation underscores strong market confidence in FirstHoldCo Group’s business model, long-term strategy, and growth prospects. With a fortified capital base, FirstBank is positioned to accelerate its support for the real sector, enhance financial inclusion, and deliver innovative, digitally driven customer experiences.

The recapitalisation strengthens the Group’s overall financial resilience, providing a robust platform for earnings growth through business expansion, technological innovation, and the pursuit of new opportunities.

In March 2024, the CBN directed commercial banks to raise their capital base to a minimum of ₦500 billion within a 24-month period to bolster the Nigerian banking sector’s stability and capacity. FirstBank has now fulfilled this requirement well ahead of the regulatory deadline.

In a related development, FirstHoldCo have expressed its desire to raise fresh funding and inject additional capital into the Group’s existing subsidiaries and new business adjacencies in 2026. This forward-looking commitment is aimed at further enhancing service offerings and facilitating strategic expansion.

Commenting on the achievement, Mr. Femi Otedola, CON, Chairman of First HoldCo Plc, said:

On behalf of the Board, I extend our profound gratitude to our shareholders for their trust and unwavering support throughout this capitalisation programme. From the oversubscribed Rights Issue to the seamless Private Placement, investors have demonstrated resounding confidence in our strategic direction. Securing FirstBank’s capital base ahead of schedule is a testament to our collective commitment and positions us firmly for our next growth phase. We also appreciate the professional guidance of the CBN and SEC throughout this process.”

Mr. Wale Oyedeji, Group Managing Director of First HoldCo Plc, added:

This successful capital raise is a pivotal milestone for FirstHoldCo. It provides us with the financial strength to execute our core strategic priorities: driving innovation, delivering superior customer value, and enhancing sustainable profitability. With this solid foundation, we are focused on accelerating performance, improving competitive returns, and delivering lasting value to all our stakeholders.”

 

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Adron Homes Appreciates Customers Worldwide, Reaffirms Affordable Housing Drive in 2026

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Adron Homes Appreciates Customers Worldwide, Reaffirms Affordable Housing Drive in 2026

 

The Chairman and Chief Executive Officer of Adron Group, Aare Adetola Emmanuelking, has expressed profound appreciation to Adron customers across Nigeria and in the diaspora for their unwavering trust, patronage, and continued recommendations of the company’s products throughout 2025.

In his New Year goodwill message, Emmanuelking acknowledged that the loyalty and confidence of Adron customers have remained the backbone of the company’s sustained growth, innovation, and expanding footprint across the country.

“On behalf of the Board, Management, and the entire Adron Group family, I sincerely thank our esteemed customers within Nigeria and outside the country for believing in our vision and standing with us throughout 2025. Your trust, patronage, and referrals continue to inspire us to do more,” he stated.

He noted that every investment made by customers whether in land acquisition or home ownership reflects their confidence in the Adron brand and reinforces the company’s resolve to consistently deliver value, quality, and transparency in the real estate sector.

Reflecting on the outgoing year, Emmanuelking described 2025 as a year of collective progress and impact, driven largely by customer support and loyalty. He added that the company remains deeply grateful to customers for their role in strengthening Adron’s position as a leading real estate brand in Nigeria.

As the company steps into 2026, the Adron Group helmsman reassured customers of the brand’s unwavering commitment to service excellence, stressing that the company will continue to prioritize availability and affordability as its core mission.

“Adron Group will not relent in its service delivery. Our driving force remains the availability of quality properties and the affordability that enables Nigerians at home and in the diaspora to become proud property owners. This commitment will continue to shape our offerings and innovations in the new year,” he affirmed.

Emmanuelking concluded by wishing customers a prosperous and rewarding New Year, assuring them of greater opportunities, improved service delivery, and innovative housing solutions in 2026.

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Why Nigerians Can’t Afford to Ignore Taxizi — Generate Your Tax Through Taxizi …The New App Turning Tax Confusion Into Clarity

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Why Nigerians Can’t Afford to Ignore Taxizi — Generate Your Tax Through Taxizi

…The New App Turning Tax Confusion Into Clarity

 

 

In a country where tax compliance remains one of the most misunderstood civic responsibilities, a Nigerian technology firm has introduced an innovation that could significantly reshape how individuals and businesses understand and manage their tax obligations.

 

Smoothwave Entertainment Ltd has launched Taxizi, Nigeria’s first all-in-one tax calculator app designed to demystify the nation’s often complex tax system. The platform aims to make tax calculation smarter, faster, and far less intimidating for millions of Nigerians—ranging from civil servants and freelancers to content creators, lawyers, musicians, producers, small business owners, and corporate organisations.

 

Available on iOS, https://apps.apple.com/ee/app/taxizi/id6754260086, Android,
https://play.google.com/store/apps/details?id=com.taxizi.app, and the web, Taxizi enables users to instantly compute key tax obligations, including Pay-As-You-Earn (PAYE), Value Added Tax (VAT), Corporate Income Tax (CIT), and Withholding Tax (WHT), using verified data aligned with guidelines from the Federal Inland Revenue Service (FIRS). The app can be downloaded via the Apple App Store and Google Play Store.

Speaking on the motivation behind the product, Smoothwave’s Chief Operating Officer and Creative Director, Mr. Kevin David Ichekor, said the app was created to address a widespread national challenge—lack of clarity around taxes.

“Tax reforms and tax compliance are still vague to many Nigerians. Our goal with Taxizi is to bring transparency, simplicity, and accessibility to the tax space,” Ichekor said. “We wanted to create a tool that helps Nigerians understand their tax obligations without the confusion or fear that often surrounds the process.”

The platform was developed by Smoothwave’s in-house IT team, led by Mr. Michael Olaleye, who translated Nigeria’s intricate tax framework into a clean, intuitive digital interface accessible to everyday users.

Making Tax Literacy Simple and Accessible

Taxizi’s key strength lies in its ease of use. Users simply input income details, allowances, and optional deductions, after which the app instantly produces a clear and comprehensive tax breakdown.

Although Taxizi is not a tax-filing platform, it offers real-time calculations and is already being prepared for advanced integrations such as TIN verification, secure tax payments, and potential TIN/TID generation.

“By making tax easier to understand, we are contributing to a more accountable economy,” Olaleye said.

Supporting Nigeria’s Digital Tax Reform Drive

As the Federal Government and FIRS intensify efforts to digitise tax administration under evolving reform frameworks, analysts say platforms like Taxizi could accelerate public adoption of digital tax tools and improve voluntary compliance.

Accessible via www.taxizi.ng, the platform operates under the mission-driven tagline: “Calculate. Pay. Build the Economy.”
It also maintains an expanding digital footprint, including educational content on YouTube at @Taxizi.

The Future of Tax Convenience

Smoothwave Entertainment says the launch of Taxizi marks only the first phase of a broader vision. Planned future upgrades include:

Official API integrations with national tax authorities

Secure in-app tax payment systems

Corporate tax reporting and analytics tools

A potential TIN and TID generation framework

Describing the initiative as more than a software product, Ichekor said:
“Taxizi is the beginning of a movement—to make civic responsibility digital, simple, and smart.”

With its blend of technology, education, and user-centric design, Taxizi is positioning itself as a critical tax companion in Nigeria’s digital economy—one that individuals, businesses, and creators alike may soon find impossible to ignore.

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Remo Day 2025: Aare Emmanuelking Salutes Akarigbo, Ogun Governor, Calls for Continued Cultural Progress

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Remo Day 2025: Aare Emmanuelking Salutes Akarigbo, Ogun Governor, Calls for Continued Cultural Progress

 

 

The Otun Akile of Remoland and Chief Executive Officer of Adron Group, Sir Aare Adetola Emmanuelking, KOF, has extended formal felicitations to the Akarigbo and Paramount Ruler of Remoland, His Royal Majesty, Oba (Dr.) Babatunde Adewale Ajayi, and all sons and daughters of Remoland on the occasion of the 2nd Remo Day Celebration, described the event as a significant affirmation of Remo heritage, unity, and progress.

 

In a goodwill message to mark the celebration, Aare Emmanuelking noted that Remo Day reflects the resilience, cultural pride, and collective aspiration of the Remo people, whose unity continues to drive sustainable growth and communal advancement.

 

He commended His Royal Majesty for his visionary leadership and praised the traditional institution’s stabilising role in promoting peace, cultural continuity, and good governance across Remoland.

 

Aare Emmanuelking also acknowledged the presence of the Executive Governor of Ogun State at the celebration, describing it as a demonstration of solidarity with the Remo people. He saluted the Governor’s purposeful leadership and commitment to good governance, noting the positive impact of his administration’s development policies across the state.

 

According to him, Remo Day transcends ceremony, serving as a symbolic homecoming that honours the sacrifices of the forebears while strengthening unity and shared responsibility for development.

 

He further applauded the contributions of Remo indigenes at home and in the diaspora, whose enterprise and collaboration continue to position Remoland as a centre of economic vitality and social harmony.

 

“As a proud son of Remoland, I am inspired by the unity and sense of purpose that define our people,” he stated, adding that the celebration should further deepen cohesion and accelerate sustainable development.

 

On behalf of his family, the Board of Directors, and the Management of Adron Group, he wished His Royal Majesty and all Remo sons and daughters a successful and memorable Remo Day celebration.

 

He concluded with prayers for the continued peace, prosperity, and development of Remoland and Ogun State, reaffirming his loyalty and commitment to the land and its people.

 

Remo Day 2025: Aare Emmanuelking Salutes Akarigbo, Ogun Governor, Calls for Continued Cultural Progress

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