Business

Ogun Agro-Cargo Airport Will Be Commercially Viable-Abiodun

Published

2 years ago

November 12, 2023

Ogun Agro-Cargo Airport Will Be Commercially Viable-Abiodun

Ogun State Governor Prince Dapo Abiodun has said the state owned Agro-Cargo International Airport is destined to be a game changer in the nation’s aviation sector.

Prince Abiodun said that because of the facilities in place at the airport, which begin operations before the end of the year, many companies have approached the state to relocate there, paving the way for the airport to be a commercial success in the aviation industry.

The governor spoke in a chat with newsmen at the weekend.

According to him, with the longest runway, the biggest apron and control tower, the cargo airport is destined to be the best in the country.

“We have been approached by cargo companies that now want to relocate where their cargoes are being delivered to, and ship into Nigeria from where it is presently, simply because they have seen the size of our apron at the airport, which is 84,000 square metres. It is four or five times larger than the largest cargo airport in Nigeria.

“These cargo-based companies have now decided that, once the airport is ready, they will be flying their cargoes that are destined for Nigeria to that airport, and from our airport, they will now be trans-shipping the cargoes to the other parts of Nigeria and even West Africa.

“And when you look at all those that would be involved in these cargo operations in the distribution and in running of our airport from the Agro-producing zone and to the Aerotropolis, you can just imagine the economic impacts and the number of jobs that will be created. The impacts will also resonate in the entire economy, not just this country but the entire Africa.

“You should know that the traditional roles of the Customs service of any country is to ensure that goods are being imported into the country, that goods are allowed into the country, and their role is to ensure that necessary tariffs, excise duties are paid on those goods.

“In that regard, the Nigeria Customs Service has actually applied for and paid for 100 hectares of land at the airport. They have actually begun the construction of their village at the airport. This just goes to show how much preparation is already underway. If the Nigeria I’m Service actually came, paid for 100 hectares of land.

“From what I understand, they will be erecting over 700 housing units and so many warehouses. So, a lot of work is already ongoing. They have been in the pipeline. The Nigerian Air Force (NAF) has also discussed with us for an Air Force Base. We are also talking to others who want to set up flying schools at the airport.

“Others have also come, that they want to set up what they call an FBO which is a place where planes are maintained, parked and serviced rather than being taken outside the country.

“This will also save the country of the needed foreign exchange. The amount of activities that we will be seeing in the next few months there at the airport would be massive and awesome,” Prince Abiodun said.

The governor noted that the airport was deliberately built to international standards because of its co-location in the special Agro-Processing zone.

He said that with the construction of the airport, Ogun State has now been opened to the outside world.

“Like they say, ‘when you build a road it takes you from one location to the other, but when you build an airport, it takes you from one location to the rest of the world’.

“By this world-class International Airport that we have constructed in Ogun State, Ogun State is now open to the entire world as an industrial capital of Nigeria,” he said.

Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

Published

6 hours ago

May 12, 2026

Sahara Weekly

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

Published

7 hours ago

May 12, 2026

Sahara Weekly

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

Published

9 hours ago

May 12, 2026

Sahara Weekly

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.