Business
LIRS Boss Bags Innovative CEO of The Year Award, Promises to Sustain Tax Revolution in Lagos State
The Executive Chairman of the Lagos State Internal Revenue Service (LIRS), Mr Ayodele Subair has been conferred with the Most Innovative CEO of The Year Award 2022 by the New Telegraph Awards 2022.
The award ceremony, held at the Balmoral Convention Centre, Federal Palace Hotel, Lagos, on Friday, had in attendance several other awardees and dignitaries, including the Vice President, Prof. Yemi Osinbajo, honoured with the Statesman of the Year Award, All Progress Congress Presidential Flagbearer, Asiwaju Bola Tinubu, PDP Presidential Candidate, Alhaji Atiku Abubakar, who both bagged Lifetime Achievement Award and Lagos State Governor, Babajide Sanwo-Olu, who went home with the Governor of the Year(Education), among others.
The organisers of the awards, The New Telegraph Newspapers, explained that Subair was honoured for his landmark strides since he became the LIRS Executive Chairman in 2016, as he has been able to implement strategic innovations as well as double the initial revenue generation from N240bn to N427bn with his astute knowledge and experience in Accounting and Taxation.
Driving the tax revolution at the LIRS, other Subair’s achievements, according to the newspaper, include the introduction of eTax in 2019, the launching of the whistleblowing initiative (2022), staff reforms and welfare upgrade (from 2017 till date), the introduction of the IBILE HUB Initiative (2021), Technology driven Operational Reforms in LIRS formed in 2022, where an Intelligent Unit- a team of undercover administration specially trained in information gathering and intelligence reports to provide information on all taxpayers in Lagos State and to ensure the agency has adequate information for appropriate profiling to expose tax defaulters.
Others include the establishment of the LIRS Service Charter (2021), the introduction of Automation of collection of consumption taxes (2017-2018), the inauguration of the Joint State Revenue Committee (JSRC) in 2021 as well as becoming the agency with the Highest Generated Revenue amid Covid-19 pandemic in 2020.
While receiving the award, the LIRS boss, who was accompanied by some of the agency’s directors, expressed gratitude to the management of New Telegraph for recognising LIRS for the efforts it has been making in driving the State’s revenue generation under Governor Babajide Sanwo-Olu-led administration.
Subair said: “I want to say a very big thank you to the organizers of this great award, including the publisher and management of New Telegraph. “I want to say thank you for recognizing LIRS as being the most innovative and very strategic agency. We know we have to be on top of our game so that we can generate enough revenue for this wonderful state.”
Speaking further, the astute Tax administrator noted: “I am very happy to receive this award. It is the recognition of all the hard work we’ve been doing at the LIRS. This award encourages us to strive to improve our innovation. The LIRS is hinged on technology, and anybody who wants to make any headway in tax administration has to embrace technology. So, it’s our joy that we are being duly recognized as the foremost agency in that direction.
“I dedicate this award to my late father, Engr. Abiodun Subair, Governor of Lagos State, Mr Babajide Sanwo-Olu, who always says yes to our wish list. I also want to dedicate the award to my family, to all directors and management staff of LIRS who are here to support me tonight and very importantly, to all staff of LIRS that have stayed committed to our strategic objectives.”
Speaking on what to expect from the agency shortly, Subair noted; “As for me, when you talk about figures, I want to ensure that we continue to double our numbers so that we have enough funding to sustain the development of our dear State.
Among the directors, who accompanied the LIRS chairman to receive the award included LIRS Board Secretary, Mr Owolabi Kamson, Director, Admin and HR, Arinola Kola-Daisi, Director, Legal, Seyi Alade, Assistant Director, IT, Rasheed Olu-Ajayi, Assistant Director, Relationship Management Unit, RMU, Mr Tunji Osuntokun and Head Corporate Affairs, Monsurat Amasa. #
Bank
Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion
*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
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
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.
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