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MY ADVISE FOR EDO PEOPLE IN THIS COMING ELECTION – DR. SAMUEL OSAIGBOVOOGBEMUDIA
Former two-time governor of old Bendel State, Dr. Samuel Osaigbovo Ogbemudia is an elder states man. Many people have been waiting to hear from him to know his stand on this forth coming election in Edo state. In this Exclusive Interview with SUNDAY ADEBAYO, he expresses his belief and assessments of the present Edo state government, and also analyze the likely outcome of the coming election… Excerpt.
What is your assessment of the present Edo state government?
Well having been there by qualification, assessing them is that I have been there before and I know the problems and I understand some of their approaches taking the totality of what I know, the man, Adams Oshiomole has performed extremely well and that is why I decided to defend him, and that is why I give him all my support and that is why whatever he does, I look at it against the background of the difficulties which myself passed through. So from the point of view of development, he has done the best he could, but that doesn’t mean he could not do better maybe because there was not enough money.
For those ones that you think he has not done well, was it that you were not able to brief him about the major problem of the Benin people when he came in?
There is no one that he has not done well, there is nothing I asked him to do that he didn’t do, after looking at the totality of the problems of what I experienced myself, Oshiomole has done wonderfully well.
Looking at the activities that trailed during the APC primary that lead to the emergence of Obaseki, do you think the party is united enough to win this election?
Well I cannot speak on that because I was not at the primary, secondly I only read about it in the newspaper and perhaps the rumor here and there by people who attended and those who didn’t attend and there was great variation between the story being tabled by those who attended and those who heard it, so we don’t know which one to believe, but my believe is that if people appreciate goodness in anybody, they should appreciate what Oshiomole has done in this state because if other previous governors have done as much, he would have gone higher than he did now. So far as I am concern I think that people if they look at what Oshiomole has done against the background of what people did in the past, they will vote for APC.
Now Obaseki promised that if he comes in, he is going to provide over 200,000 jobs but people were now speculating, asking the question that when he was the head of economic team in Edo state, he was not able to provide anything of such. Do you think in your own opinion, looking at the present governance with your approval of Oshiomole great performance, do you think Obaseki is up to the task of the promise he is making?
Firstly, Obaseki is not in my view a politician, he is not a professional politician, he is a technocrat and in his position as a technocrat, he has information on all the affairs of government, as to whether he could have done that as technocrat, advising the governor, the ultimate responsibility for the job to be done is that of the governor, he may have recommended and the governor did not see it as a priority, so you cannot blame him, when he comes from what I have had in discussion with him and I was convinced that he knew where the pendulum was swinging, he knew where he was going because his objectives were very clear to him and he’s also not mindful of the fact that while he is looking straight at the objectives, there are many intervening obstacles, diversional obstacles on the way, and he is prepared to negotiate them. So it is that ability that gives him credit over his opponent.
Looking at when you used to be the governor of the old Bende, bringing together Edo state, Delta state and the couple of other states that you manage then, Things were going right, there was no much complain about running the government, but now what is your assessment of the crisis rocking PDP in Edo state right now?
The only word I’ve always used is mismanagement of victory, when a political party of substance going to election whether win, victory or defeat, must set up a committee to access their performance and see where things went wrong, whether PDP did it or not, I don’t know but not to my knowledge if they did, that notwithstanding its management of victory was not and I think too that the people themselves were tired of hearing the same voice every day, the issue of change came into focus.
Do you think pastor Osagie Ize Iyamu had the political sagacity to perform better than Oshiomole if he eventually becomes the governor of Edo state?
Pastor Osagie Ize Iyamu is my son, his father was my own father, so when the man was leaving, he said look after your son for me, pastor Osagie has tremendous energy unquestionable in credentials that he can use, but he is on a shaken platform, probably if he was in APC, there would be no problem, he would by now be celebrating, if he was in another party, probably he would be celebrating. But first, he had to kill two birds with one stone, he had to reactivate the reputation of the PDP and then take advantage of it to ask them to vote for him but he cannot do the two together because correcting the hills of the past and calling them to order, by the time they finish, the vote is over. But as a person you can’t beat him, he is a first class fellow and I will go with him anywhere.
So what you are telling us now is that come this election which is drawing close by, if past Ize Iyamu Can rectify some loop holes that you think are the problems of PDP in Edo state, do you think he has a higher chance of becoming the next governor of Edo state?
If there are two people that he has to do this to, he has to do this to the elites who at their drinking base, they criticize not himself but his party, then he have to do it to the population, and those population, the majority, card bearers who can vote, the elites their voice he will hear so loud every day, they are minority, so it is not something you can do in one month or two month if he still remain in PDP correct the hills of the past, he will be on top but whether he can do everything together before next two month election is what I don’t know.
Okay recently when the PDP want to have their gathering at Ogbemudia Stadium, there was an information that the governor instruct that they don’t have their campaign at that stadium, do you have any idea ?
No I never heard , the truth is this that as at today the government is the caretaker and trustee of the stadium, the stadium belong to the people, so it is for them to say yes, this man coming to the stadium, will it be in our own benefit or against us? So they take a decision and that in the decision influences the reply to its letter, that is what it is. But I believe that when government refuse to allow them to organize at the stadium, the generality of the people who would normally have gone to the stadium didn’t feel too good about it, so they might decide to punish government for it, so you don’t know where the pendulum is swinging but its important for people like us, it should not have been rejected the refused to the use of the stadium because that will not add any much value to whatever they are doing, but by refusing it, it has added value to it.
How can you compare politics in Edo state, the way it is practiced now and the way it was practiced when you were priviledge to be at the realms of power?
Yes remember I was the governor at a time when I was a military officer, I was only on posting by the supreme headquarter to Benin. I didn’t win any election but when I came back and decided to seek election I won because I told them to allow me finish the unfinished job and they agreed and I won so comparing the two, you will find that there is quite monumental difference
What is your advice for Edo people in this drawing near election?
My advice is this, if what they told me in the past and with my experience that they want development, they don’t want their money to be spent paying lawyers and going to court every day, then they must pick the person whose chances are better because every person has a way of accessing , for example I had a meeting here yesterday and I said to them, here is a paper for about 200 people, write down which party you think we should affiliate with, since we are not in politics, they all wrote down, over 100 voted for one party, six voted for one, two voted for one. So if you sent such people to the poll, they will all vote for A, what is in their mind is different, and they will go there.
How far will you tell us you have gone with Samuel Ogbemudia foundation?
Good, over the years I have been a victim of diabetic and from tablets, I progress to insulin injection and I started this 1970 and I started injection 1980 and I didn’t want other people to suffer the same thing because of lack of information, more importantly the diet that can easily cure the problem. So I got together experts who are prepared to help, some of them in America, some in Canada and some in Great Britain. So we set up Ogbemudia foundation to purely accomplish three things, the first is good governance, the second is youth empowerment and detect its non-communicable diseases, from the diabetic information we are putting together and talking to people on what they need to know. Sometimes I address people and at the end of it, I tell if they have diabetics. And it is going on gradually. But those who are going to help me are yet to come.
Since the beginning of the foundation, how much assistance or donations or help have you received from people that you have sent letters to or you can call to help curb fight the pulse?
We have not gone out, but the present Delta state government has been helpful. When he was coming, he brought a cheque of five million to the foundation, Oshiomole promised to help and am hoping that once the problem on hand is sorted out, he will do something. There are many people we’ve talk to, but we have not asked for help, and when I have got all those information and those visitors have come and put down what they can do, then I will know what I need and ask people to assist us.
So far will you say you have been receiving response from people in terms of visitation, and feedbacks?
Oh yes, a lot of people, our doctors go about talking to people, counseling them on what to use, and what to kind of food to eat because not everybody can afford insulin of 11,000, to avoid insulin you must take diet that will perform the same function.
A diversion from the foundation now, if anybody look at you some people will still think daddy is 70 or 75, but even looking at your present health condition over the years and the fact that you can no longer walk and run the way you used to do some years ago, what would you say you’ve been doing that is making you looks so good like this sir?
Well, credits goes to that lady (pointed at his wife Mrs Yetunde Ogbemudia), but apart from that, In 1953, I was admitted into hospital and the doctor diagnosed me of Amoebic dysentery and I spent twenty one days, but when I had my accident in August 5, 2010, I break my leg and I have to move from one operation to another, and apart from that leg, well so far am alright, I can see, I can move about with my walking stick but better than it was a year ago, so gradually the thing is coming up, because the doctor told me that I am suffering from incurable disease and when I asked him, he said old age and he asked me whether I’ve seen anybody who cured old age, I said no then he must keep off with it.
Looking at how far you have come, when you were born till now, what would you advice the younger generations who are aiming higher to be in the position of good health and proper understanding with their creator, what will be your advice for them?
My advice is simple, when I was a boy, an elder cousin of mine pass his junior Cambridge, we had a wake keeping to thank God that he was able to get to that standard, but since then, there have been PHDs, nobody worries about it, we have made tremendous progress to the young men of today to be able to catch up and keep himself and family together, he must educate himself, because education has no age limits, that is the invoice of continuing education and it means that there is no end. Sometime ago, I witnessed the graduation of open university in London and one of the graduates was 94 years old, and when the press asked him at the age of 94, what are you still doing? He said I have always wanted to be educated. Sometime in 1969, I was the sole administrator of the Nigerian Airway and I advertised for an accountant and twenty five thousand people applied and we set up a criteria to screen the application and we finally came to a hundred and we have to be looking for criteria to reduce it. But finally out of that hundred, there were six with master’s degree, there were two with a PHD, so what do you do, do you leave the PHD and take the first degree. Nigeria should no longer rely on first degree; they should go further and specialize , when I was the governor, I told the ministry of education , inform all the student ,anybody who comes out of the college with good result in WAEC because one boy from AGBOR had 7As and that’s an automatic scholarship, if you got a first class from a university degree, you get automatic scholarship to study for higher degree because the Nigeria of tomorrow is going to be very competitive and it has started, so the youth must learn to concentrate on their studies, stop fighting until they have reach the ultimate.
Would you say you are fulfilled in life?
I am fully fulfilled in many ways, first I never thought that I will ever get here till now. One gentle man brought his insurance paper to me in 1960, he said it will mature in 1975 it was 15 years away and I said I wont take because fifteen years is too far , but eventually I was quest to pay into bank in order to insure myself , on a date in 1975 I received a letter , it said your insurance is due, where do you want the money to be paid into, I regretted not putting more but I never thought I will witness it mature, two, I never dreamt that one day I will be a governor of a state, Benin state for that matter. three I never thought when I join the army I will be a general , I merely go there to go and do my own work and God was kind to me and they move me forward and fast. I have had children and God has been kind, not one of them has ever been admitted in the hospital, no one is sick. Where I live, this house I inherited it from my mother and I live here, I did my governor job from this very table so what else do I want, all I have gotten didn’t mean anything to my children because they all live at home but my other colleague were told to handover the government house within 24 hours to the new governor, but it didn’t happen to me because I just took my own briefcase and return back to my house where I operated from.
Bank
FirstBank, Visa Expand Premium Card Portfolio with Visa Signature Launch
FirstBank, Visa Expand Premium Card Portfolio with Visa Signature Launch
Designed for Nigeria’s affluent segment, Visa Signature unlocks world-class benefits through Visa’s global network across travel, lifestyle, and premium merchant offers.
Lagos, Nigeria – May 15, 2026 – First Bank of Nigeria Limited, in partnership with Visa, has announced the launch of Visa Signature, a premium card offering designed for Nigeria’s affluent segment. The card unlocks an exclusive portfolio of lifestyle benefits, global travel privileges, and curated merchant offers through Visa’s worldwide acceptance network, giving high-spending Nigerians a product built around how they live.
Visa Signature targets Nigeria’s top executives, business owners, and frequent international travelers who expect more from their financial products. Through Visa Global benefits and Visa Destination offers, cardholders gain access to preferential rates, premium experiences, and priority services across hundreds of partner merchants, hotels, airlines, and destinations around the world. The card supports both domestic and cross-border transactions, ensuring seamless payment experiences whether cardholders are in Lagos, London, or Dubai.
Commenting on FirstBank’s ambition for its premium cardholders, Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: “At FirstBank, we are dedicated to creating financial solutions that reflect the evolving lifestyles of our customers. We understand that our premium customers aspire to experiences that reflect their global outlook. Visa Signature is crafted to meet those expectations, offering access to exclusive experiences, global connectivity, and lifestyle privileges that empower our customers to live without boundaries. We remain focused on creating value and reinforcing our position as the partner of first choice for Nigerians at home and abroad.”
Highlighting the strategic importance of the FirstBank partnership, Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “Nigeria’s affluent consumers are among the most active and globally connected spenders on the continent. Visa Signature is designed to serve that profile with the depth of benefits and the breadth of acceptance they deserve. We are delighted to work with FirstBank in making this available to the Nigerian market.”
The launch marks a strategic step for FirstBank in deepening its premium product offering. FirstBank’s existing Visa portfolio already serves millions of Nigerians across everyday retail, cross-border commerce, and online transactions through Visa Infinite, Visa Gold, Naira Credit, and Visa Prepaid cards. Visa Signature adds a dedicated tier for the affluent segment, giving this customer group the recognition and privileges their spending profile demands.
Visa Signature is available to eligible FirstBank customers. Interested customers can visit any FirstBank branch nationwide or contact their dedicated relationship manager to apply.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government enti
Bank
Tony Elumelu at Africa Forward Summit: “Our Youth Do Not Need Handouts”
Tony Elumelu at Africa Forward Summit: “Our Youth Do Not Need Handouts”
Heirs Holdings Founder tells Presidents Ruto and Macron that Africa wants partners of substance, based on equality, and that power and infrastructure must come first.
At the 2026 Africa Forward Summit, convened by Kenyan President H.E. William Ruto and French President H.E. Emmanuel Macron, Heirs Holdings Founder and Group Chair, Tony O. Elumelu, CFR, delivered a direct message to a room of heads of state, investors, and global business leaders: Africa is open for partnership, not patronage.
“We welcome true partnership — partnerships of substance and based on equity — where Africans and African solutions catalyse Africa’s future”, he remarked.
Elumelu argued that Africa’s transformation hinges on two foundational investments — electricity and infrastructure — and that private capital must do the heavy lifting.
“The private sector is what will help us mobilise capital to drive investment in infrastructure, investment in electricity. These are two critical requirements for the economic prosperity and development of Africa,” he said. “If we create the right operating environment, we will create jobs for our people. We will alleviate poverty and deliver growth and prosperity.”
With more than 65 percent of Africans under 35, Elumelu pushed back hard against the traditional language of aid.
aid.
“In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, they need improved access to electricity, they need to join the internet. What is important is providing this enablement, this infrastructure requirement, so that our young ones can realise their potential.”
His Tony Elumelu Foundation (TEF) has now provided access to training for 2.5 million young Africans and funded over 27,000 entrepreneurs across all 54 African countries — the continent’s largest entrepreneurship platform.
Elumelu signalled openness to every credible partner, regardless of geography.
“It is a good place to be at, as Africans, now. We should embrace those who want to help us catalyse growth in Africa. And let us not forget Africa is the fastest growing region globally – and it is not just demographics” he said.
“In the 21st century, the mindset must change. It should be a mindset that embraces economic prosperity and development, a mindset that creates the environment that will help us alleviate poverty in Africa, create jobs for our young people.”
Tony Elumelu’s participation at the summit aligns with Heirs Holdings’ broader commitment to driving long-term African development through strategic investments across sectors critical to economic transformation, including power, financial services, healthcare, hospitality, and technology.
The 2026 Africa Forward Summit concluded with renewed calls for deeper collaboration between governments, development institutions, and the private sector, as leaders exploredaid.
“In Africa, we have a young population. There is no room for victim mentality. Our youth do not need handouts; they need jobs, they need improved access to electricity, they need to join the internet. What is important is providing this enablement, this infrastructure requirement, so that our young ones can realise their potential.”
His Tony Elumelu Foundation (TEF) has now provided access to training for 2.5 million young Africans and funded over 27,000 entrepreneurs across all 546 African countries — the continent’s largest entrepreneurship platform.
Elumelu signalled openness to every credible partner, regardless of geography.
“It is a good place to be at, as Africans, now. We should embrace those who want to help us catalyse growth in Africa. And let us not forget Africa is the fastest growing region globally – and it is not just demographics” he said.
“In the 21st century, the mindset must change. It should be a mindset that embraces economic prosperity and development, a mindset that creates the environment that will help us alleviate poverty in Africa, create jobs for our young people.”
Tony Elumelu’s participation at the summit aligns with Heirs Holdings’ broader commitment to driving long-term African development through strategic investments across sectors critical to economic transformation, including power, financial services, healthcare, hospitality, and technology.
The 2026 Africa Forward Summit concluded with renewed calls for deeper collaboration between governments, development institutions, and the private sector, as leaders explored pathways to accelerate inclusive growth and strengthen Africa’s position within the global economy.
Bank
Wema Bank Plc Sets the Record Straight on False and Misleading Publication by NDIC on Legacy Transactions Involving Defunct Gulf Bank Plc
Wema Bank Plc Sets the Record Straight on False and Misleading Publication by NDIC on Legacy Transactions Involving Defunct Gulf Bank Plc
General Comments
Wema Bank Plc has noted with concern recent media publications containing false, misleading, and wholly unsubstantiated allegations regarding the sale of certain Banana Island properties purportedly linked to the defunct Gulf Bank Plc. We unequivocally reject these claims, which are inaccurate, malicious, and clearly intended to distort the true position. For the benefit of our stakeholders—shareholders, customers, regulators, and the general public—we set out below the factual background to the transaction.
The Original Exposure and Default
In 2002, Wema Bank Plc (the Bank) made an inter-bank placement with Gulf Bank Plc in the sum of ₦4.6 billion. By August 2004, that exposure had been reduced to approximately ₦1.2 billion, after which the outstanding obligation became delinquent. In seeking to recover depositors’ and shareholders’ funds, Wema Bank pursued lawful recovery steps, which ultimately dovetailed into a criminal investigation of the then Managing Director of Gulf Bank Plc.
Based on the investigation of the Economic and Financial Crimes Commission (EFCC), the funds were found to have been diverted and used to acquire properties in Banana Island, Lagos, through two separate companies Bacad Finance & Investment Company Ltd (now known as Supra Commercial Trust Limited) and Euston Wenberg Eng Ltd. It is important to note that neither Bacad Finance & Investment Company Ltd (nor its successor, Supra Commercial Trust Limited) nor Euston Wenberg Eng Ltd is one and the same as Gulf Bank Plc. They are separate and distinct entities with no identity or equivalence to Gulf Bank. And the two companies are not subject to NDIC supervision.
In the course of its investigation, the EFCC conducted asset-tracing exercises that uncovered significant underlying fraud on a substantial scale. Following the EFCC’s findings, Bacad Finance & Investment Company Ltd and Euston Wenberg Eng Ltd voluntarily relinquished their proprietary interests in the Banana Island properties towards the satisfaction of Gulf Bank Indebtedness to Wema Bank. That process formed part of Wema Bank’s lawful recovery efforts and underscores the legitimacy of its actions against Gulf Bank.
NDIC’s Acknowledgment, Admission of Indebtedness, and Payment of Shortfall.
Critically, following the liquidation of Gulf Bank, Nigeria Deposit Insurance Corporation (NDIC) admitted Gulf Bank’s indebtedness to Wema Bank in two separate letters:
A letter dated September 26, 2007, addressed to the Federal Land Registry; and
A letter dated June 10, 2009, addressed directly to Wema Bank Plc.
These letters constitute clear and formal recognition by the NDIC of the validity of Wema Bank’s claim against the defunct Gulf Bank and its interest over the property in question. Fortunately, both letters form part of the documents frontloaded by NDIC lawyer Dr. Dada Awosika SAN in court in the ongoing proceedings before Justice Allagoa of the Federal High Court Lagos.
Furthermore, after the sale of the properties, the NDIC in fact paid to Wema Bank, the shortfall of what was due to the Bank. These facts demonstrate that the NDIC was not only aware of the transaction but actively participated in settling the outstanding balance following the sale.
In light of the foregoing:
the voluntary relinquishment by Bacad (now Supra Commercial Trust Limited) and Euston Wenberg (distinct entities not constituting Gulf Bank), of the properties in Banana Island for the settlement of the indebtedness of the defunct Gulf Bank
the NDIC’s formal admission of Gulf Bank’s indebtedness to Wema Bank via its letters of September 26, 2007 (to the Federal Land Registry) and June 10, 2009 (to Wema Bank), both of which have been frontloaded in court by NDIC itself, and the acknowledgement of the relinquishment of the Banana Island properties, and
the NDIC’s own payment of the shortfall to Wema Bank,
NDIC is precluded from and cannot in good faith contest the relinquishment of those interests or the appropriateness of Wema Bank’s recovery efforts.
While we acknowledge that the NDIC has recently commenced two separate actions against Wema Bank at the Federal High Court, Lagos, purportedly in its capacity as liquidator of Gulf Bank Plc pursuant to a winding-up order, those proceedings do not alter the material facts stated above. As these matters are currently before the court and therefore sub judice, Wema Bank will refrain from commenting further on issues that fall for judicial determination. The Bank is taking all necessary steps to contest the suits filed in court and will explore all legal and legitimate means to protect its rights and interests.
Conclusion
Wema Bank Plc remains steadfast in its commitment to the highest standards of corporate governance, regulatory compliance, and transparency. We reaffirm our dedication to ethical and prudent banking practices and assure our shareholders, customers, regulators, and all relevant stakeholders that the Bank will continue to act responsibly, lawfully, and in the best interests of all parties it serves. The Bank will continue to exert its rights and will not succumb to the shenanigans of unscrupulous individuals who want to reap where they did not sow.
FOR FURTHER INFORMATION:
For further information, please contact:
Johnson Lebile
General Counsel/Legal Adviser
About WEMA Bank Plc
Wema Bank Plc (NGX: WEMABANK) is the pioneer of Africa’s first fully digital bank, ALAT, and one of Nigeria’s most resilient banks. With decades of experience in the business of banking, the Bank has remained innovative in delivering value to its stakeholders. Wema Bank operates a network of over 150 branches and service stations backed by a robust ICT platform. The publicly quoted Nigerian company has successfully built a legacy of trust and resilience that has won it the loyalty of its customers. The Bank is constantly introducing products and services tailored to the needs of its customers at every stage of their lives. It is a proud partner to more than one million individuals, families and businesses across Nigeria, helping them achieve their personal and financial goals.
More information can be found at https://www.wemabank.com/about-us/
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