Business

APC: As the pendulum swings from Osun to Lagos

Published

9 years ago

July 24, 2017

APC: As the pendulum swings from Osun to Lagos

That the Nigerian voters are becoming increasingly politically savvy, in the choices of the candidates they trust is patently obvious. Performance of individuals, rather than political party patronage is a determining factor in who gets what. Those who doubt this assertion may have to take a critical look at the two recent elections held in Nigeria-the Senatorial one in Osun state and the just concluded local council polls in Lagos state.

For the former, Dr Ademola Adeleke of the Peoples Democratic Party (PDP) clinched the Senatorial seat to represent Osun West, in the July 8, 2017 bye-election. The post was made vacant by the sudden demise of his brother, late Senator Isiaka Adetunji Adeleke. It is on record that Aregbesola had promised to resign should Adeleke win. But when he saw the hand writing on the wall, he had to throw in the towel.

Sadly, the politician who has borne the toga of a progressive in words could not put that to action. “The people have spoken. Democracy has won and we respect the people’s choice”. That is the beauty of democracy. The people’s dreams, aspirations and choices, rather than that of a few power-poaching politicians always hold sway.

Expectedly, the candid opinion of seasoned political analysts is that if Aregbesola had performed creditably well and paid workers their salaries as at when due, as well as put solid infrastructure in place to bolster youth employment, his party, All Progressives Congress(APC) would have had a landslide victory. That is, just as it has recently played out, in Lagos state, the acclaimed Centre of Excellence.

Interestingly, it was a clean sweep for all the 57 chairmanship candidates of the APC in the July 22, 2017 local council elections in Lagos state. They were all declared winners by the Lagos State Independent Electoral Commission (LASIEC) as they clearly defeated all their rivals, particularly from the PDP and Accord parties in the keenly contested election.

To underscore the significance of this electoral feat it should be remembered that during the last similar polls held over five years ago in the same state, APC lost some councillorship posts to the PDP. Also, in 2015 APC lost nine House of Representatives members to the PDP. Indeed, one honourable Kakoare won his election on the platform of the Accord Party (AP). The compelling question therefore, is to find out who, or what has made the difference?

The answer is Governor Akinwunmi Ambode! The young, humble, hardworking, visionary, resourceful leader has cautiously keyed his administration’s policies in tandem with the wishes of the good people of Lagos state. He knows, unlike some of his counterparts strewn all over the country that leadership is all about trust. That is the key element in every human relationship.

At every point of decision making since he assumed office over two years ago he reminds himself of the electoral promises he made during the 2015 campaigns. And he has gone ahead, through the Town Hall Meetings to reinforce the belief of the people in his government’s capacity and capability to deliver on their mandate rather than his.

He has therefore, excelled because he has kept an abiding faith with the promises he made to the people. Talk about the critical issues of security, infrastructural development, youth empowerment, job creation, tourism and the entertainment industry, Ambode’s Midas touch is there for all to see. And all because he is building bridges of trust, faith and loyalty with the people; to facilitate the common cause of good governance.

Said he:”This victory for us is nothing more than a confirmation of the trust that Lagosians have placed on the party.”Only that would explain the sweeping victory of the APC in an election conducted in an atmosphere of peace and harmony, in spite of the heavy rain. He noted that the party did not only emerge victorious for the chairmanship positions but also the councillorship, which is the closest to the people. That again, is democracy at work.

It should serve as a moral and political lesson not only to Aregbesola but other APC governors, that their performance rather than their belief in the name of the party would always get them the victory. Things have since changed iin Nigeria’s effervescent political landscape. The politicians may have their say but the people now have their way. As the pidgin English phrase goes, ”eyes don open! ”

Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

Published

6 hours ago

May 12, 2026

Sahara Weekly

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

_By AGP News

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

Bank

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Published

7 hours ago

May 12, 2026

Sahara Weekly

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.

The Group recorded a Profit Before Tax of N347.7 billion. This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).

On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.

The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).

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.

Business

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Published

9 hours ago

May 12, 2026

Sahara Weekly

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Ms. Zouera Youssoufou, Managing Director & CEO of Aliko Dangote Foundation (ADF) in company with Mr. Ahmed Iya, Head of Community Engagement & Polio Eradication of ADF visited Dr. Rami Ahmad, Vice President (Operations) of the Islamic Development Bank at IsDB Headquarters in Jeddah.

The delegation used the occasion to highlight the activities of the Foundation so far which made great impact on people of all races by enhancing opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden empowerment opportunities for individuals and communities.

Dr. Rami also expressed his expectation of a good and rewarding partnership between the two organisations, as many member countries of the IsDB face pressing debt challenges that constrain their investments in people and livelihoods.