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FBNHOLDINGS, FBNBANK GHANA CALL ON PREZ AKUFO-ADDO

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The Group Board Chairman of FBN Holdings Plc, Dr. Oba Otudeko CFR and Directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited have paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa-Akufo-Addo in Accra.

The visit was to show appreciation to the President and thank him for participating in First Bank of Nigeria Limited’s 125thanniversary activities held earlier this year and update the President of some recent investment activities of the Group.

Dr. Otudeko assured President Akufo-Addo that FBNHoldings believes in the Ghanaian economy and indicated that it was evidenced by the recapitalization of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited. He pointed out that the Group’s investment of US$100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation.

The FBNHoldings Group Board Chairman added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited.

Dr. Otudeko lauded the President of Ghana for giving the youth opportunities to serve in his government, saying it will prepare them to take over the leadership of Ghana in the near future. He congratulated the President on the choice of Ghana as host of the Africa Continental Free Trade Agreement, saying that it must have taken significant effort to bring this to Ghana.

President Nana Addo Dankwa Akufo-Addo thanked Dr. Otudeko for his kind words and recounted the crucial bilateral and economic ties as well as historic bond, pre and post-independence, that exist between Ghana and Nigeria.

While stating that it is important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that government will provide the necessary support to FBNBank Ghana Limited and the entire business community.

The President also touched on the banking sector reforms and observed that Nigeria also had to embark on a similar exercise in the recent past. He said it was a painful but necessary exercise to strengthen the financial services industry and position it to support business and the economy.

President Akufo-Addo emphasized the importance of providing opportunities to the youth to enable them support the nation’s growth and development agenda and the need for all citizens of the two countries to find avenues to give back to their nations.

Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.

The FBNHoldings Group Board Chairman, Dr. Oba Otudeko, CFR, was accompanied by Mrs. Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited; Mr. U. K. Eke, MFR, Group Managing Director, FBN Holdings Plc.; Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited; Otunba (Mrs.) Debola Osibogun, Non-Executive Director, FBNHoldings; Dr. Hamza Wuro Bokki, Non-Executive Director, FBNHoldings, and Mr. Victor Yaw Asante, Managing Director, FBNBank Ghana Limited.

FBN Holdings Plc is the most diversified financial services group in Nigeria and includes FirstBank of Nigeria Ltd the mother company of FBNBank Ghana and other subsidiaries around the world.

From left to right: Victor Yaw Asante, FBNBank Ghana MD, Otunba (Mrs.) Debola Osibogun, Non-Executive Director, FBN Holdings, Dr. Adesola Adeduntan, Managing Director, First Bank of Nigeria Limited, Dr. Oba Otudeko, CFR, Group Board Chairman, FBN Holdings, Nana Addo Dankwa Akufo-Addo, President, Republic of Ghana, Mrs. Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited, Mr. U. K. Eke, MFR, Managing Director, FBN Holdings and Dr. Hamza Wuro Bokki, Non-Executive Director, FBNHoldings.

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NLC vs Telecom Tariff Hike: NSCDC Deploys Troops, Warns of National Security Threat as Labour Vows to Fight On

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NLC vs Telecom Tariff Hike: NSCDC Deploys Troops, Warns of National Security Threat as Labour Vows to Fight On

NLC vs Telecom Tariff Hike: NSCDC Deploys Troops, Warns of National Security Threat as Labour Vows to Fight On

Tensions are running high as the Nigeria Security and Civil Defence Corps (NSCDC) has warned the Nigeria Labour Congress (NLC) against its planned March 1 shutdown of telecommunications services over the recent 50% tariff hike. The NSCDC announced it has deployed operatives nationwide to protect telecom base stations and prevent any disruptions during the protest.

The NLC has vowed to press ahead with its plan to shut down the operations of major telecom providers like MTN, Airtel, and Glo unless the Nigerian Communications Commission reverses the price hike by February’s end. The union has also directed Nigerians to boycott telecom services from 11 a.m. to 2 p.m. daily until further notice, citing a breach of public trust by the operators.

NSCDC spokesperson Babawale Afolabi, in a chat with The PUNCH on Sunday, stressed that any disruption to telecom services could expose the country to increased criminal activities and compromise national security. “The NSCDC will not allow any action that could jeopardize the nation’s security. We are on red alert, and any illegal activity during the protest will be dealt with according to the law,” Afolabi warned.

A nationwide deployment of NSCDC personnel, including undercover and intelligence officers, has been ordered to maintain round-the-clock surveillance at telecom facilities. The agency cited credible intelligence suggesting that hoodlums could hijack the protest, using it as an opportunity for vandalism and looting.

Meanwhile, the Private Telecommunications and Communications Senior Staff Association of Nigeria (PTECSSAN) and the Association of Telecommunications Companies of Nigeria (ATCON) have criticized the NLC’s plan. PTECSSAN Secretary-General Abdullahi Okonu argued that the tariff hike is necessary due to rising operational costs, including the removal of fuel subsidies. “The NLC acted in error by not consulting our union before making decisions,” Okonu said.

ATCON President Tony Emoekpere echoed the sentiment, calling the planned shutdown “misguided.” “This is an industry-wide challenge, not just a labour issue. Resorting to such drastic actions will only harm the economy,” he explained.

However, NLC leaders remain defiant. Lagos State NLC Chairperson Funmi Sessi dismissed the NSCDC’s warnings as intimidation tactics. “No one can threaten us! This is about our commonwealth. If necessary, we will shut down electricity too. Let them do their worst,” she declared.

The NLC maintains that the tariff increase represents a betrayal of public trust, given the government’s earlier agreement to review the proposed hike before any implementation. The union also slammed the government for failing to protect citizens from corporate exploitation.

As the standoff intensifies, the NSCDC is calling for dialogue to avoid any potential disruption. “Dialogue remains the best solution, and we hope organized labour will listen to reason,” Afolabi added.

With both sides digging in, the nation braces for potential unrest in the coming days.

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Zero Processing Fee; GTBank Removes POS Processing Fees to Support Businesses

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Zero Processing Fee; GTBank Removes POS Processing Fees to Support Businesses

 

Lagos, Nigeria – Wednesday, 12 February 2025 – Guaranty Trust Bank Ltd has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions.

 

This initiative, which took effect Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.

 

With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience.
Speaking on the initiative, Miriam Olusanya, Managing Director, Guaranty Trust Bank Nigeria, said: “At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem. By implementing the zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive, whilst also ensuring a more seamless and efficient payment experience.”
The Zero Processing Charge campaign aligns with GTBank’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.

 

For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at [email protected].
About GTBank

 

Guaranty Trust Bank (GTBank) is a leading financial institution committed to delivering innovative banking solutions that empower businesses and individuals. With a strong focus on technology and customer satisfaction, GTBank continues to redefine the banking experience across Africa and beyond.

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Nigerian Officials Condemn Canada’s Visa Denial to Military Leaders

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Nigerian Officials Condemn Canada’s Visa Denial to Military Leaders

Nigerian Officials Condemn Canada’s Visa Denial to Military Leaders

 

The Federal Government and former diplomats have condemned Canada’s decision to deny visas to top Nigerian military officials, including the Chief of Defence Staff, Gen. Christopher Musa, and other senior officers. The controversy arose after Gen. Musa revealed that several high-ranking officials were barred from attending a Canadian event honoring war veterans, leaving some delegation members stranded.

 

National Security Adviser Nuhu Ribadu expressed outrage at the development during the maiden annual lecture of the National Association of the Institute for Security Studies in Abuja on Thursday. Ribadu described the visa denial as “disrespectful” and declared, “Canada can go to hell.” He applauded Musa for addressing the issue publicly and emphasized the need for Nigeria to strengthen its internal capacity.

 

“Even though it’s painful and disrespectful, we are peaceful, we are strong, and I agree with you—it is time to fix our country. This is yet another reason we must work hard to make Nigeria work,” Ribadu stated.

 

Gen. Musa called the incident a “wake-up call” for Nigeria to stand firm against being taken for granted by foreign nations. “This is a reminder that we must stand on our own, stand strong as a nation, and refuse to be taken for granted,” he urged.

An official from the Canadian High Commission, speaking anonymously, indicated that an official response would be provided on Friday.

Former Nigerian Ambassador to Cameroon, Ambassador Rasheed Akinkuolie, criticized the visa denial as inconceivable and proposed a reciprocal delay in processing Canadian visa applications. He also recommended summoning the Canadian High Commissioner for an explanation.

“High officials of the rank of the CDS, COAS, and Service Chiefs should normally hold diplomatic passports. Application for visas of such top officials should be routed through the Ministry of Foreign Affairs, and forwarded with a Note Verbale,” Akinkuolie explained. “If such a denial occurs, the Nigerian mission in Canada should delay all diplomatic, official, and private applications of Canadians visiting Nigeria as a reciprocal measure.”

Ambassador Akinkuolie also emphasized the importance of limiting delegations to official personnel to avoid unnecessary complications.

Similarly, retired Ambassador to Algeria, Amb. Mohammed Mabdul, described the visa denial as “highly undiplomatic” and urged the Canadian High Commission to reconsider. “The issue of security should not be taken for granted,” Mabdul warned, stressing that diplomatic relations should not be jeopardized by such actions.

However, former Nigerian Ambassador to the Philippines, Yemi Farounbi, criticized Ribadu’s language, calling it undiplomatic.

“I don’t think the NSA handled the matter in the best possible way, and the language used cannot be considered diplomatic,” Farounbi said. He suggested that the issue should have been referred to the Ministry of Foreign Affairs.

“Every sovereign nation has the right to grant or deny visas to any applicant. Considering the bilateral relationship, the matter could have been addressed through diplomatic channels. The Ministry of Foreign Affairs is the best agency for handling such matters, and they would have used appropriate language,” he added.

Farounbi further warned against ministries and agencies taking on roles that fall under the Ministry of Foreign Affairs.

“There are instances where top officials visit foreign countries without informing the Nigerian Embassy in those countries. This is not how such matters should be handled,” he said.

As diplomatic tensions rise, all eyes are on Canada’s official response and any potential actions Nigeria may take to address the issue.

 

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