Business

Paseda Blames Youths Negligence In Government On Nigeria’s Economic Woes

Published

9 years ago

January 29, 2017

Non-involvement of youths in the present administration of the country has been attributed to the telltale result of the current economic woes.

The Ogun State Governorship candidate of Unity Party of Nigeria (UPN) in the last general elections, Otunba Rotimi Paseda, stated this on Saturday while delivery a speech on the topic “Raising Our Future Generation” at the annual youths seminar organized by the Ultimate Achievers Initiative held at Mowe/Ibafo in Obafemi Owode local government area of the state.

Otunba Paseda stressed that the inability of both the federal and state governments to maximize the full potentials of the youths is responsible for the economic ailment, which has crippled the country’s agricultural and manufacturing sectors.

He pointed out that the tale woes of the economy made the home-made goods globally uncompetitive while jerking up the value of local currency.

He said the neglect of the youths in decision making of government policies has done more harm than good to the agricultural sector of the economy, emphasizing the need to divert the energy of the youths into agriculture, which was the nation’s goldmine before oil discovery.

Otunba Paseda, who was represented by his Political Coordinator, Engineer Babatunde Folarin, opined that there is urgent need for the government to properly fund and monitor Agriculture-oriented institutions, agencies, farmers and relevant stakeholders, as well as provid them with high-quality seeds, fertilizer, feed and modern technologies.

According to him, about 2.02 billion people are suffering from chronic hunger worldwide, while 575 million of these people are from Sub-Saharan Africa, of which Nigeria forms a larger part.

“Food crisis and the attendant poverty are the tell-tale result of our neglect. And this will be so, because our farmers are old and the energetic youths were left out.

“Our dear nation is presently trapped in a suffocating web, having relegated Agriculture, which is her initial goldmine to oblivion at the expense of oil wealth. Now that the oil-wealth has turned to oil woes, the country is embroiled in food crisis and her citizens are ravaged by abject poverty.

“Instead of beholding the legendary ground nut pyramid in the North, the sprawling barns of cocoa in the Southwest, the mountainous heaps of coal in the Southeast which were the hallmarks of our past efficiency and industry, we are today daily witnessing the evidence of misplaced priorities and inefficient utilization of God given endowment.

“Narrowing down to Nigeria, the latest United Nations Development Programme (UNDP)’s Human Development Report informs that not less than 25.5million of the estimated 170million of Nigerians go to bed with empty stomach daily. When you compare the aforementioned staggering figure of poverty-stricken Nigerians with the report of FAO on soil productivity in Nigeria, you see no justification for poverty in the land.

” A nation that does not equip the youths will remain stagnant and retrogress. China today, has become world Trade Centre and technologically driven as a result of her vision to adequately utilize the potentials of the nation’s economy. What is wrong with Nigerian government and the youths?

“The earlier our government realized the urgent need for proper funding and monitoring of Agriculture oriented institutions, agencies, farmers and relevant stakeholders, as well as provision of high-quality seeds, fertilizer, feed and modern technologies, the better for our Agriculture sector”, Paseda averred.

He however promised to support youth initiatives that would help them actualize their real potentials with a view to making them self-reliant and contribute their quota towards taking Ogun State and Nigeria to an enviable height.

“The zeal to effectively engage and encourage the youths to actualize their real potentials triggered our resolved at Paseda Legacy Foundation to take youths course as part of our core priorities and make them independent without becoming political tools.”

Bank

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

Published

3 minutes ago

May 13, 2026

Sahara Weekly

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

Bank

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

Published

13 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

13 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.