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More trouble for Saraki as he faces Fresh charges in court

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Bukola-Saraki

The Senate President, Dr. Bukola Saraki, on Thursday pleaded not guilty to amended 16 counts preferred against him by the Federal Government before the Code of Conduct Tribunal.

The amendment to the original 13 counts added fresh Counts 3, 14 and 16 .

He was accused in Count 3 of abusing his office between October 2006 and May 2007 while he was the Kwara State Governor.

Under Count 3, the prosecution accused Saraki of obtaining a loan from the Guaranty Trust Bank to acquire the properties known as No. 17A and 17B McDonald, Ikoyi, Lagos in the aggregate sum of N497,200,000.

He was said to have bought the properties from the Implementation Committee of the Federal Government Landed Properties.

He allegedly repaid the loan to GTB through various lodgments made into his account on his behalf by his aides when he was Governor of Kwara State and his account officer using funds which he allegedly handed over to them in cash at Kwara State Government House, GRA, Ilorin.

The acts under the Count 3 are said to be “contrary to the government policy against corruption and abuse of office and against the interest of the people of Kwara State.

In Count 14, the prosecution accused Saraki of failing to declare his interest in a foreign credit card account to which he allegedly transferred huge sums of money while being Governor of Kwara State.

He was said to have failed to declare his interest in the American Express Service Card with No: 374588216836009 at the end of his second term as governor.

He allegedly transferred huge sums of money in dollars from his Guaranty Trust Bank domiciliary account No. 441441953210 in Nigeria.

In Count 16, Saraki was accused of continuing to receive salary and emoluments as Governor of Kwara State and from the Federal Government as a senator between June 2011 and October 2013.

Originally, the Federal Government preferred against Saraki,13 counts, including charges of false and anticipatory asset declaration, as well as operation of foreign accounts, which he allegedly committed while being the Governor of Kwara State between 2003 and 2011.

Saraki was re-arraigned before the tribunal on Thursday because of the amendment to the charges which added three fresh counts to the original 13 counts.

There have been two amendments of the original 13 counts which now bring the counts against the Senate President to 16.

The first amendment which brought in additional two counts was made on April 18, 2016 while the latest made on April 27, 2016, added one fresh count.

The charges dated April 18 were withdrawn on Thursday.

The latest amendment was introduced by the prosecution and accepted by the tribunal chairman, Danladi Umar, after overruling the defence led by Mr. Paul Usoro (SAN).

The tribunal ruled on Thursday that contrary to Usoro’s contention, the prosecution, under section 216(1) of the Administration of Criminal Justice Act,  was not required to file a motion to give the reasons for the amendment before it could be accepted by the tribunal.

Earlier before the re-arraignment the CCT on Thursday dismissed an application asking its chairman, Danladi Umar, to disqualify himself and withdraw from Saraki’s trial.

Saraki, had in his motion argued by his lawyer, Mr. Ajibola Oluyede, on Wednesday, asked Umar to disqualify himself on the grounds of likelihood of bias in the  handling  of the trial by Umar.

But in the ruling of the two-man panel of the CCT on Thursday, the tribunal held that the application “lacked absolute merit.”

It upheld the opposition of the prosecuting counsel, Mr. Rotimi Jacobs (SAN), to the motion, to the effect that contrary to Oluyede’s claim, the EFCC had cleared him of the bribery allegations.

“The AGF cannot prosecute without sufficient evidence from investigative agencies,” Umar said.

He added that the incumbent AGF, Mr. Abubakar Malami, had said he (Umar) had been cleared while appearing before a House of Representatives’ committee which was petitioned with respect to the bribery allegation.

He recalled that Malami told the committee that he (the AGF) stood by the March 5, 2015 letter of  the EFCC to Adoke, indicating that there was no sufficient evidence to prosecute him (Umar).

He said, “The issue of having a  case to answer before the EFCC is over.

“The application lacks absolute merit and it is hereby dismissed in its entirety.”

The CCT on Thursday adjourned till May 10 for further cross-examination of the first prosecution witness, Mr. Michael Wetkas, after Saraki pleaded not guilty to the 16 counts.

Defence counsel, Mr. Paul Usoro (SAN), had asked for three weeks adjournment to enable the defence team to “take further instructions” from their client and prepare for the case in view of the “fundamental and substantial amendment” to the original charges”.

But Jacobs insisted that the three weeks requested by the defence was too long in view of section 396 (5) of the Administration of Criminal Justice Act 2015.

The CCT panel said that it would strike a balance by adjourning for 10 days and then fixed the next hearing date for May 10.

Meanwhile, Saraki has appealed against the Thursday’s ruling of the Code of Conduct Tribunal in which it refused to disqualify Umar from further participating in the trial.

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

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Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

Lagos, Nigeria – May 1, 2025 – Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year. Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.

Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”

Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.

Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.

“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.

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.

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GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions

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*GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions*

By Osho Oluwatosin

The internet has literally been on ‘fire’ since Friday following the arrest of self-acclaimed Nigerian activist, Martins Vincent, also known as Very Dark Man. He was reportedly picked up by the Economic and Financial Crimes Commission (EFCC) for reasons yet unknown.

While it’s not the first time VeryDarkMan or any prominent Nigerian would be arrested by the EFCC — a government agency not under the authority of any private organization — it seems some Nigerians are passionately trying to push a narrative that his arrest was orchestrated by one of Nigeria’s biggest financial institutions, Guaranty Trust Holding Company (GTCO).

Although this narrative isn’t far-fetched — VDM had criticized the bank due to ‘mysterious’ deductions from his mother’s bank account for unjustifiable reasons. He approached the bank’s branch in Abuja to make an official complaint and, afterwards, he was picked up by the EFCC. But what many Nigerians have failed to realize is GTCO may not even be involved in his arrest.

VeryDarkMan was seen in the bank, quite alright, but in a CCTV released by the bank, he was seen moving out of the bank when he finished. He even had a celebrity moment with some of his followers who took pictures with him before he was arrested. So I’m wondering, what has GTB got to do with his arrest? That someone got knocked down by a vehicle after leaving church, does it mean the church orchestrated the accident? That someone got attacked after leaving a lecture room, does it mean the lecturer orchestrated it? That someone even got attacked in a courtroom, does it mean the judge orchestrated it? Absolutely not.

Although it would have been better if the EFCC had come out to clear the air regarding the reason for VDM’s arrest, because in the absence of information, rumours are bound to thrive. In fact, the commission should have actually released a statement regarding these rumours, not to vindicate GTB, but to keep Nigerians informed.

Let’s even think about it logically: what can warrant GTCO to order VDM’s arrest by the EFCC? Did he defraud GTCO? Did he steal from a GTB customer? Did he launder money through a GTB account? These are questions that should be asked before passing judgments. But Nigerians are always emotional when it comes to issues like this, and that’s why people who are culpable in serious crimes get away with anything as long as they get involved in charity or activism.

GTCO has been a very friendly organization, and in 2024 alone, the bank paid a record dividend of N8 per share. The bank is happy, shareholders are happy, customers are happy — who is Very Dark Man?

Osho Oluwatosin is a Nigerian journalist and writes from Lagos.

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

In February of this year, I needed to open a new bank account for salary purposes, as required by the management of the new company I had just joined.

I considered First Bank, Access Bank, and Sterling Bank. After some thought, I chose Sterling Bank—not because I found them superior—but because I believed they had fewer customers, which I hoped would save me from long queues and unnecessary delays.

I visited the Sterling Bank branch at Akowonjo to open the account. Unfortunately, the staff member who attended to me didn’t inspire confidence. She appeared distracted—smiling at her phone, clearly engrossed in a private chat—far from the level of professionalism one would expect in a bank setting. I had a feeling this would lead to problems down the line.

 

When my first salary was paid into the account, my suspicion was confirmed. Sterling Bank restricted access to my funds—I couldn’t transfer money or make withdrawals at the counter. I visited their Fatai Atere branch at Ladipo, Mushin to complain, where I was informed that the account opened for me was a “Kaikai” account—a type I had never heard of. Apparently, this account type is meant for individuals who lack the required documents during account creation. But I had submitted all necessary documents, so why was such an account opened for me?

Can We Have More Bankers Like Victoria Mulero? An epitome of 'omoluabi'

At the Fatai Atere branch, I was attended to by a remarkable banker named Victoria Mulero. She requested my NIN, which I didn’t have on me at the time. Rather than send me back home, she asked if I had a digital copy. I did, and she graciously gave me her email address so I could forward it to her. With that, she resolved the issue promptly and professionally.

However, the following month, in March, the same restriction happened again. I returned to the Fatai Atere branch, and once again, Victoria Mulero handled my complaint with efficiency and kindness, resolving it without delay.

I hoped the matter was finally settled, but when my April salary arrived, the restriction was imposed yet again. This time, I was beyond frustrated and ready to replace Sterling Bank as my salary account. Still, I visited the Fatai Atere branch one last time. Once more, Victoria Mulero resolved the issue with grace and determination.

This write-up is a tribute to Victoria Mulero of Sterling Bank, Fatai Atere branch. She is a rare gem—respectful, diligent, and genuinely customer-focused. She went above and beyond, following up with the Akowonjo branch through calls and emails until the matter was fully resolved. She handled every situation with patience and empathy, treating the job as if the bank belonged to her family.

To be honest, I’ve had unpleasant experiences with many bankers, especially female staff. Too often, they carry personal frustrations into the banking hall and take it out on customers. But Victoria is different. She exemplifies what true customer service should be.

We may not all be the same, but treating people with respect and kindness is a skill that can be learned—and Victoria clearly has. Let’s celebrate her for being a model professional and a beacon of hope in an industry that too often lacks empathy.

Without any fear of contradiction, I say boldly that Victoria Mulero is a good ambassador of Sterling Bank and her parents too deserve encomium for raising a well trained daughter and impacting an attitude of ‘ omoluabi’ in her. We need more of Victoria Mulero in our banking industry.

Seun Jacob Ogunbiyi
Known as Olùkọ́, the therapeutic writer and Lagos based journalist

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