Business

Ooni of Ife, Olugbo of Ugbo in supremacy battle over monarchical seat

Published

9 years ago

December 4, 2016

There is an ongoing battle of supremacy between the Ooni of Ife, Oba Adeyeye Ogunwusi, and Olugbo of Ugbo, Oba Obateru Akinruntan, over which throne is the monarchical seat of power in Yorubaland and the origin of Oduduwa, the so-called progenitor of Yoruba people.

Oba Akinruntan also attacked the Ooni of Ife for describing Moremi Ajasoro as a heroine.

The Ugbo monarch disagreed with the Ooni, who described Moremi as a goddess and recently built a 42-foot statue in her honour.

To the Ondo monarch, Moremi was a traitor who betrayed her husband, Osangangan Obamakin.

But in a swift reaction, the Ife monarch said Olugbo did not have deep knowledge of Yoruba history.

The Olugbo, in a statement issued by the Olugbo-in-Council, said, “We, the Olugbo–in–Council, found such (Ooni’s remarks about Moremi) unguarded statements and historical fallacy disturbing, particularly when such emanated from a monarch who is expected to be a custodian of history, customs and traditions of Yorubaland. We hereby state categorically that we are Ugbos, the aboriginal settlers and owners of Ile-Ife.

“Our forefathers descended from heaven, that is why we are called ‘Ugbo Atorunwo.’ We are not Ibos (Igbos), who are from the South-East, and who have their own clearly researched and defined ancestry. To set the record straight, Moremi remains a traitor. She was a slave captured by Ugbo warriors during one of their many raids on Ile-Ife. She later became the wife of Osangangan Obamakin, the son of Oranfe, of who was the paramount ruler of over 13 aboriginal communities of ancient Ugbomokun, which later came to be called Ile Ife.”

The statement said further, “Oduduwa came to Ugbomokun as a stranger and was welcomed in Ilero, the aboriginal palace of Osangangan Obamakin, which is still in existence in present-day Iremo, in Ile Ife. During the dynastic struggles, Osangangan Obamakin was directed by the oracles (Ifa and Osanyin) to leave Ile Ife. Moremi betrayed her husband’s trust when she exposed the secret of the Ugbo warriors’ gallantry.”

“Popular history states that Oduduwa, the progenitor of the Ooni, migrated from the East/Mecca. In another account by the Oba of Benin, recently, Oduduwa came from Benin. We ask that the Ooni should confirm his ancestral roots. It is also of importance to note that in the ancient custom of Yoruba, an incumbent king must have no living father. Also, no man from a female lineage of a ruling house is qualified to sit on the throne.”

But Oba Ogunwusi, who spoke through the Director of Public Affairs of the Ooni’s Palace, Moses Olafare, said the Ooni would not dignify the Olugbo with an answer because he was more focused on achieving unity among all Yoruba people and would not allow himself to be distracted.

The Ooni insisted that Moremi was a heroine, who deserved accolade because of the role she played in the liberation of Ife people from some “faceless terrorists.”

He said, “This outburst of Olugbo can only be viewed by well-meaning people as a pitiable act of absurdity that doesn’t deserve serious attention by serious people. How on earth could a Yoruba king refer to Moremi as a traitor because she used her power as a woman to liberate her people from incessant invasions by some faceless terrorists?

“Most paramount on the mind of His Imperial Majesty, Ooni Adeyeye Ogunwusi Ojaja II, with the unflinching support of the Alaafin, baba; the Awujale; the Alake; the Orangun; the Deji; the Ewi; the Osemawe; the Olubadan; the Oba of Lagos; and other relevant peace-loving monarchs in Yorubaland and in other parts of the country is and remains the much-needed progress of Yoruba nation which can only be achieved through peace and unity.

“It is a pity that at this time when everybody is tired of retrogressive royal discord, the Olugbo, who claims to be the Chairman of Yoruba Obas Committee on Peace and Reconciliation, has suddenly without a deep knowledge of Yoruba history, woken up to see royal controversy as the only tool for cheap publicity.”

Bank

WEMA BANK CELEBRATES 81ST ANNIVERSARY AND 9TH ANNIVERSARY OF ALAT

Published

1 day ago

May 2, 2026

Sahara Weekly

WEMA BANK CELEBRATES 81ST ANNIVERSARY AND 9TH ANNIVERSARY OF ALAT

…Set to Reward Hundreds of Customers, Launch 5 for 5 Season 5

Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has simultaneously marked its 81st anniversary and the 9th anniversary of ALAT on Saturday, May 2nd, 2026.

Adopting a different approach from its grand 80th anniversary celebration in 2025, Wema Bank is set to celebrate its 81st anniversary this year by giving back to its customers. The Bank’s anniversary celebration features rewards for customers on the ALAT App in celebration of ALAT at 9 as well as rewards for Wema Bank customers at the launch event for the 5th Season of the Bank’s 5 for 5 Reward Initiative, happening on the Bank’s anniversary day, May 2nd 2026.

In line with the Bank’s 81st anniversary theme, “Your Future of Possibilities, Powered by Wema Bank”, the Bank will also rollout a specialised customer success initiative dedicated to helping different demographics of its customers to map out and build the future of their dreams. From businesses to students, working class women, creatives and more, Wema Bank will provide tailored, practical and strategic insights and support that will help these unique demographics access better opportunities, receive useful support and make accelerated progress towards meeting their goals.

Commenting on the Bank’s motive behind its approach to celebrating its 81st anniversary, Wema Bank’s MD/CEO, Moruf Oseni, said, “The world is rapidly evolving. Digital evolution and emerging technologies continue to present newer opportunities and realities. To thrive, one must be prepared to adapt where needed and ready to leverage the possibilities ahead; and this is what we want to help our customers achieve. With millions of individuals and businesses in our care, we have a deep sense of responsibility towards helping them make meaningful progress and our 81st anniversary presents the perfect opportunity for us to deepen our efforts towards fulfilling that responsibility”.

“We are building a smarter and more secure financial future for our customers, one where banking is effortlessly aligned with their goals, intelligently anticipating their needs and proactively providing the right solutions. Beyond banking solutions, we are curating opportunities, providing platforms, building an entire ecosystem engineered in the best interests of every unique Wema Bank customer. Our goal is for our customers to grow as we grow, to always be one step ahead, and to make accelerated progress towards their future of possibilities as we journey with them”.

“To every stakeholder who has been a part of Wema Bank’s 81-year journey: our investors, regulators, partners, esteemed customers and dearest employees; this anniversary is dedicated to you, and this is why we have chosen to celebrate this way. On behalf of the entire board and management of Wema Bank, I say THANK YOU for 81 historic years. We have, we are, and we will be with you, all the way. Happy 81st Anniversary to us all”, Oseni concluded.

Wema Bank has established a proven track record of empowering lives, supporting businesses and providing tailored solutions that meet real needs. From financial support to digital solutions, unique opportunities and customised service, Wema Bank continues to show that it is a Bank that truly cares, understands and is committed to helping individuals and businesses thrive and achieve their goals.

For more information on how to tap into the rewards curated by Wema Bank, isit wemabank.com

Business

BUA Chairman Abdul Samad Rabiu Rises to Become Africa’s Second Richest Man

Published

3 days ago

April 30, 2026

Sahara Weekly

BUA’s Abdul Samad Rabiu Promises $1.5m Windfall, Goal Bonuses as Super Eagles Fly Past Algeria

BUA Chairman Abdul Samad Rabiu Rises to Become Africa’s Second Richest Man

LAGOS – In a notable reshuffle of Africa’s wealth hierarchy, Abdul Samad Rabiu, Chairman of BUA Group, has climbed to the position of the continent’s second richest individual. The development highlights the accelerating growth of his industrial empire and the increasing global relevance of Nigeria’s manufacturing sector.

Recent valuations show the billionaire businessman overtaking long-standing contenders to secure the number two spot, behind only Aliko Dangote. His rise has been driven largely by the strong market performance of his publicly listed firms, BUA Cement Plc and BUA Foods Plc, both of which have recorded significant gains on the Nigerian Exchange (NGX).

Rabiu’s ascent reflects years of strategic expansion and vertical integration. BUA Cement, Nigeria’s second-largest cement producer, has scaled up operations with new production lines to meet rising infrastructure demand. At the same time, BUA Foods has strengthened its leadership in key segments such as sugar, flour, and pasta, reinforcing its role in regional food supply.

Analysts note that his focus on essential goods has provided stability, helping his businesses maintain steady revenues despite broader economic fluctuations. By prioritizing domestic production, BUA Group has also reduced exposure to external shocks.

Philanthropy and Development Impact

Beyond business, Rabiu has earned global recognition for his philanthropic efforts through the ASR Africa Initiative, a $100 million annual intervention fund supporting education, healthcare, and social development across Africa.

His rise in the rankings is widely viewed as evidence of the power of African-driven industrialization—not only in building wealth but also in delivering meaningful social impact. As Africa’s economic landscape evolves, the shifting billionaire rankings underscore the growing influence of Nigeria’s private sector in shaping the continent’s future.

Bank

ZENITH BANK EXPANDS FRONTIERS WITH CÔTE D’IVOIRE SUBSIDIARY, DEEPENS FRANCOPHONE WEST AFRICA PUSH

Published

4 days ago

April 29, 2026

Sahara Weekly

ZENITH BANK EXPANDS FRONTIERS WITH CÔTE D’IVOIRE SUBSIDIARY, DEEPENS FRANCOPHONE WEST AFRICA PUSH

Zenith Bank Plc has taken a major step in its Pan-African growth journey with the official launch of its Côte d’Ivoire subsidiary, reinforcing its strategic ambition to dominate key markets across the continent.

The grand opening ceremony, scheduled for Wednesday, April 29, 2026, is expected to draw top-tier government officials and regulators from Nigeria and Côte d’Ivoire, alongside leading business executives and members of the diplomatic corps—underscoring the growing economic ties and investment flows between Anglophone and Francophone Africa.

Licensed in December 2025 by Côte d’Ivoire’s Ministry of Finance and Budget and regulated by the UMOA Banking Commission, the new subsidiary will operate from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan—one of the region’s most important financial hubs.

The move signals a calculated expansion into Francophone West Africa and positions Zenith Bank as a key financial bridge within the West African Economic and Monetary Union. The subsidiary is designed to drive cross-border trade, offering corporate banking, trade finance, offshore banking, and structured financial solutions tailored to businesses operating across Africa and beyond.

Speaking on the milestone, Group Managing Director/CEO Adaora Umeoji said the expansion aligns with the founding vision of Chairman Jim Ovia to build a globally competitive African bank.

“The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision. It opens a strategic corridor into Francophone West Africa and reinforces our commitment to facilitating trade, investment, and enterprise growth across the continent,” she stated.

The subsidiary will be led by Managing Director/CEO Cédric Tano, who brings over two decades of industry experience. He noted that the bank is entering the Ivorian market at a time of strong economic momentum and increasing regional integration.

“Our goal is to position Zenith Bank as a customer-centric institution that blends global best practices with deep local expertise, while supporting businesses with innovative financing and enabling seamless cross-border transactions,” Tano said.

Beyond Côte d’Ivoire, Zenith Bank is accelerating its expansion into Central Africa, with plans underway to enter the Central African Economic and Monetary Community, using Cameroon as a strategic gateway.
With an established presence in multiple markets—including Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China—the bank continues to strengthen its role as a conduit linking African economies to global capital and trade networks.

Founded in 1990, Zenith Bank has evolved into one of Africa’s most formidable financial institutions, maintaining the highest Tier-1 capital position in Nigeria’s banking industry for 16 consecutive years. Built on its core pillars of People, Technology, and Service, the bank has consistently delivered strong financial performance and earned widespread local and international recognition.