Business
Federal Mortgage Bank of Nigeria in crisis over appointment of Richard Esin as Acting MD
There is an indication that Federal Mortgage Bank of Nigeria (FMBN) is engulfed in leadership tussle, a situation that may lead to the collapse of the secondary mortgage institution.
FMBN is saddled with the responsibility of supplying the mortgage and housing markets with sustainable liquidity for the advancement of home ownership among Nigerians that is anchored on mortgage financing.
The succession battle came to limelight immediately after the disengagement of immediate past Managing Director of FMBN, Mr Gimba Yau’ Kumo by President Muhammadu Buhari. Kumo who was re-appointed by immediate past President of Nigeria, Goodluck Ebele Jonathan on January 2015 having spent 4 years in his first tenure, was sacked alongside 25 Head of Federal Parastatals and Agencies before the expiration of their tenure.
Investigations revealed that Kumo’s handover was enmeshed in crisis as the three Executive Directors in the Board of FMBN were political appointees and not career civil servants.
Gimba however handed over to Mr Ayobola Oluwafemi Abiola, the executive Director, policy and strategy; which led to conflict of seniority among the three executive Directors.
Following this, The Federal Ministry of Power, Works and Housing in its letter to FMBN approved Mr. Richard John Esin as the Acting Managing Director pending the appointment of a substantive MD.
However, the Ministry was said to have thrown their weight behind Esin on the basis that he resumed as the Executive Director before Abiola.
Mr. Richard John Esin who is currently the Acting Managing Director/Chief Executive was appointed an Executive Director in Federal Mortgage Bank of Nigeria on 7th January by President Goodluck Ebele Jonathan.
Mr Charles M. Nyor-Ajiva who is currently the Executive Director, Loans Department/Securities Issuance & Market Development was also appointed an Executive Director, Federal Mortgage Bank of Nigeria on January 7th, 2015 by former President, Goodluck Ebele Jonathan.
Mr. Ayobola Oluwafemi Abiola was appointed an Executive Director of FMBN by the former President Goodluck Ebele Jonathan and resumed in April, 2015.
It was also discovered that the FMBN Staff union was caught up in a squabble that Kumo was not supposed to handover to any Executive director since they were political appointees even as they accused the Ministry of masterminding the appointment of Esin.
This newspaper can authoritatively report that the crisis of leadership in FMBN is receiving the urgent attention of the secretary to the government of the federation and that of the minister for Power, Works and Housing.
We reliably gathered that the Senate Committee on Housing headed by Senator Barnabas Gemade has summoned the Acting MD, Mr. Esin to face the panel over the tussle.
Insiders reveal that staff of the agency are planning a protest to seek redress from the federal government.
When our reporter contacted Mr. Isa Lawal K/Sauri, the head of Corporate Affairs of FMBN for the agency’s angle, he however denied the allegations. In his reaction, Mr. Sauri said that all is well within the organization, stressing further that all the executive directors, the unions and staff of the agency have pledged their support to the Acting DG.
SOURCE :The Icon
Business
PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
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About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
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