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Heritage Bank’s MD calls for more impactful role in banking to aid speedy economic recovery

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In the quest to aid speedy economic recovery and impactful service delivery to stakeholders caused by macro-economic headwinds and Covid-19, banking sector’s players have been charged to maximize the opportunities by re-strategizing its roles that will address emerging risks.

The MD/CEO of Heritage Bank Plc, Ifie Sekibo made the call during the 47th Quarterly Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) with the theme “Elevating Internal Audit’s Role in the Face of Emerging Risks and Opportunities” held virtually on Microsoft Team’s platform, which was organized and hosted by the Heritage Bank, at the weekend.

Sekibo who was represented by his Executive Director, Jude Monye, whilst addressing internal auditors of banks, inquired from the bankers on the readiness of the Internal Audit function to lend the necessary support in exploiting and maximising the opportunities without impairing their independence.

He, however noted that with the rapid changing developments forced by the pandemic sweep across globe that have upended organisations in every sector of the economy, banking inclusive; internal auditors would notice that their modus operandi are outdated.

To this end, he stated that this was the most auspicious time for Chief Audit Executives to rethink how they perform various aspects of their audit assignments.

Sekibo suggested that auditors must “become versed in cybersecurity, artificial intelligence, data analytics, fraud management, regulatory pronouncements, forensics etc and having equipped himself, present balanced, objective audit reports to Executive Management while striking the right balance between the assurance and consulting responsibilities.”

He further hinted, “Embracing new processes and tools to modernize and maximize the audit function helps not only with the perception of internal audit’s value, but also the reality of its contributions. Opportunities to evaluate include virtual auditing, electronic workflow management, and distance team-building and development.” 

According to him, it becomes imperative for audit teams to embrace change, harness it and use this season to strategize on what internal audit can be in the future, whist noting that only Chief Audit Executives that maximize the opportunity to refresh and reposition will make their role more relevant and impactful for stakeholders.

Meanwhile, he commended auditors for their contributions to the industry including inputs made in shaping policy directions by regulators and the fight against fraud and other financial crimes which helped in no small measure in deepening confidence of the banking public.

In the same vein, the Chairman of ACAEBIN, Yinka Tiamiyu, reiterated the need for internal auditors to maximize opportunities of the current challenges facing the industry, as each day brings new developments that directly influence the likelihood and potential impact of banking future.

According to him, there are challenges on our part as Bankers in meeting up with the needs of our customers and the general public, and we must ensure that such challenges are surmounted.

He stressed on the need for regular annual audit plan to be reviewed quarterly to address current events that have significant impacts on the business, whilst ensuring that the key players continuously provide banking services to customers in a convenient and safer way. 

“On our part, the need for improvement in service delivery and safety of customer’s funds as we digitalized our product offerings are concerns facing the industry, as such we must not relent in our efforts to get strong authentication mechanisms as we make our services more convenient and easier for Customers.  Banks should strive to find solution to the problems associated with identity theft as we pursue digital products and inclusive banking. This is to ensure that customers are happy with us and complaints minimized,” Tiamiyu urged internal auditors of banks.

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Nigeria, once a shining example of democracy in Africa, has taken a dark turn

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Nigeria, once a shining example of democracy in Africa, has taken a dark turn.

By George O. Sylvester

 

Nigeria, once a beacon of hope and democracy in Africa, has devolved into a nation where the masses are being systematically oppressed and silenced. The current administration, led by President Tinubu, has turned the country upside down, leaving the people feeling helpless, voiceless, and disenfranchised. The government’s actions are eerily reminiscent of the dark days of military rule, where dissent was not tolerated, and opposition was brutally suppressed.

As Obafemi Awolowo aptly observed, “The people’s business is the most sacred business in the world.” It’s time for Nigerians to reclaim their business – their country – from those who seek to oppress and silence them.

The Tinubu administration’s penchant for authoritarianism has created an atmosphere of fear, where citizens are reluctant to speak out against injustice. The government’s stranglehold on free speech, assembly, and the press has effectively silenced dissenting voices. This is a recipe for disaster, as a nation that suppresses its citizens’ voices is doomed to fail.

PLO Lumumba’s words resonate deeply in this context: “The greatest problem with Africa is that those who have ideas lack the power and those who have power lack ideas.” Nigeria is suffering from a severe case of this affliction, where those in power are devoid of vision, and those with ideas are powerless.

We cannot afford to remain silent in the face of such brazen oppression. We must rise up, demand a better future, and hold our leaders accountable. The consequences of inaction are too dire to contemplate – a nation where freedom and justice are mere illusions, and citizens are forced to flee their own country in search of basic human rights.

Let us stand together, united in our quest for a better Nigeria. Let us make our voices heard, loud and clear, and demand an end to this oppressive regime. We owe it to ourselves, our children, and future generations to act now.

The time for change is now. Let us rise up and reclaim our nation. We must not allow the forces of oppression to silence us. We must not allow them to steal our future. We must stand together and fight for a better Nigeria.

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I didn’t snatch Asake’s mother from her husband -Musibau Alani

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I didn’t snatch Asake’s mother from her husband -Musibau Alani

 

 

Legendary Fuji musician, Alhaji Musibau Alani has refuted rumours spreading on social media that he snatched Fali, the mother of famous afrobeats musician Asake from her estranged husband, Mr Odunsi, fondly called Malo.

In a chat, the Stand Well Well crooner, who is Asake’s step-father confirmed that he was married to the singer’s mother in a union that produced three kids, two of which are late, but denied snatching her from any man.

Following heated allegations of neglect from Mr Odunsi against Asake, social media was agog with rumours that Alani was responsible for the breakup between the singer’s parents. Some also alleged that the veteran Fuji musician was on the band stand during Asake’s naming ceremony. But Musibau Alani has said there’s no iota of truth in all the rumours.

According to him, “I met Fali as a single mother, she was already separated from her husband, whom I didn’t know at that point in time. We got along and she moved in with me with her son Ahmed (Asake). I trained the boy.

“I later met her ex-husband, Malo who was working at a council in Lagos Island then. The day he saw me at the council, he was even telling his colleagues to thank me for taking good care of his son Ahmed (Asake). For the records, I did not snatch Fali from her first husband, and I did not play or attend Asake’s naming ceremony,” Alani stated.

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Half a Billion in Debt! Mr Macaroni Opens Up on Devastating Financial Loss, Betrayal

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Half a Billion in Debt! Mr Macaroni Opens Up on Devastating Financial Loss & Betrayal

BETRAYAL, DEBT, AND REDEMPTION: MR MACARONI OPENS UP ON LOSING HIS LIFE SAVINGS, BEING HALF A BILLION IN DEBT

Lagos, Nigeria – Popular Nigerian activist, comedian, and actor, Mr Macaroni has sent shockwaves across social media with a heartbreaking revelation about his battle with financial loss, crushing debt, and ultimate betrayal.

In a deeply personal post on X, the entertainer—real name Debo Adebayo—revealed how a combination of scams, bad investments, and reckless spending led him into financial ruin, forcing him into a debt exceeding half a billion naira.

The Shocking Financial Downfall

Mr Macaroni confessed that between 2021 and 2022, he lost his entire life savings due to a fraudulent scheme and a failed investment. But rather than share his struggles, he kept his pain hidden, pushing forward with his career while silently battling the devastating reality of being broke.

“It shook me deeply, but I told NO ONE about it… I have a duty to continue to entertain, inform, educate, and use my art to make society a better place. The show must go on!” he wrote.

In a desperate bid to stay afloat, he turned to borrowing, confident that his steady income would allow him to pay off his debts. However, he soon realized that he was barely surviving—earning millions, but spending it all on paying off accumulating interests.

“I got too comfortable, and it took me a long time to realize I was using the money I was earning to pay back interests,” he admitted, describing his financial recklessness as a long-standing personal struggle.

The Ultimate Betrayal

Just when he thought things couldn’t get worse, Mr Macaroni revealed that someone he deeply trusted—a person he considered a sister and a friend—betrayed him in an unimaginable way. The emotional and financial blow left him completely destabilized.

“I hardly trust people, and nothing surprises me about human nature. But this? I could never have prepared for. Such was the level of trust and love,” he lamented.

Rock Bottom & The Fight to Rebuild

Despite his record-breaking performances in Nollywood, receiving accolades at international film festivals, 2024 was still his most troubling year. Behind the scenes, he was sinking under a debt of over half a billion naira, carrying the weight of his financial mistakes, poor decisions, and betrayal.

But in true warrior spirit, Mr Macaroni refused to be defeated.

“One thing about me is that I’m a fighter! I have never backed down from a battle. When I fall, I bounce back even stronger!” he declared.

With the support of family, true friends, and sheer resilience, the beloved activist says he has turned a corner and is finally in a better place—stronger, wiser, and more determined than ever.

A Message to Those Struggling: “DO NOT GIVE UP!”

To everyone currently battling betrayal, financial hardship, or personal struggles, Mr Macaroni offers a powerful message of hope:

“People will betray you, but you must not let that break you. You are alive for a reason. Every day, fight to be a better person than you were yesterday!”

He urged his followers to learn from his mistakes, be more financially responsible, seek help when needed, and never let adversity define them.

“May the love in our hearts always be greater than the hate, betrayal, and wickedness in the world!” he concluded.

Social Media Reacts

Following his revelation, social media has been flooded with messages of support and admiration for Mr Macaroni’s honesty and resilience. Many have praised him for shedding light on financial literacy, debt struggles, and the importance of choosing the right people to trust.

From scandal to strength, his story serves as a powerful reminder that even the strongest among us face dark times—but with courage and determination, there is always a way forward.

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