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Stop addressing Buhari as President; Punch Newspaper advises

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The management of Punch Newspaper has taken a bold decision to protest against the failure of the Buhari administration to obey court orders and rule of law.

The management of the paper in an editorial on Wednesday vowed to henceforth stop addressing the administration and the President as a democratic institution but rather identify him as a military dictator with the prefix of Major General (Rtd) and his government as a military “regime” across of its platforms in solidarity with the rule of law.

The paper also advised Nigerians to stand up for their rights and stop “their supine acquiescence to oppression”.

According to the editorial, “The entire country and a global audience are rightly scandalised by the unfolding saga over Omoyele Sowore and the unruliness of the SSS and the government; but it is only a pattern, a reflection of the serial disregard of the Buhari regime for human rights and its battering of other arms of government and our democratic institutions.

“PUNCH views this tendency and its recent escalation with serious concern, knowing as the great thinker, Edmund Burke, said that “the only thing necessary for the triumph of evil is for good men to do nothing.” Nigeria had trod a path, a veritable obstacle course, where repression, especially under military jackboots, was a malignant presence and this attracted heroic resistance by ordinary people, civil society groups and the press.

“PUNCH will not adopt the self-defeating attitude of many Nigerians looking the other way after each violation of rights and attacks on the citizens, the courts, the press and civic society, including self-determination groups lawfully exercising their inalienable rights to peaceful dissent. This regime’s actions and assaults on the courts, disobedience of court orders and arbitrary detention of citizens reflect its true character of the martial culture. Major General Muhammadu Buhari (retd) ran a ham-fisted military junta in 1984/85 and old habits obviously run deep. Until he and his repressive regime purge themselves of their martial tendency therefore, PUNCH will not be a party to falsely adorning it with a democratic robe, hence our decision to label it for what it is – an autocratic military-style regime run by Major General Muhammadu Buhari (retd).

“As a symbolic demonstration of our protest against autocracy and military-style repression, PUNCH (all our print newspapers, The PUNCH, Saturday PUNCH, Sunday PUNCH, PUNCH Sports Extra, and digital platforms, most especially Punchng.com) will henceforth prefix Buhari’s name with his rank as a military dictator in the 80s, Major General, and refer to his administration as a regime, until they purge themselves of their insufferable contempt for the rule of law, ” the statement read.

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Investors Affirm Support For Fidelity Bank Plc With 238% Oversubscription In The First Phase Of Equity Capital Raise

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Leading financial institution, Fidelity Bank Plc, has announced the successful conclusion of the first tranche of its equity capital raise through its Public Offer and Rights Issue (the Combined Offer) following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN), and approval of the Basis of Allotment by the Securities and Exchange Commission (SEC).

A total of 108,046 applications for 23,791,687,463 Ordinary Shares totaling ₦231,968,952,764.25 were received on the Public Offer. Out of these, 107,588 applications for 23,768,724,000 Ordinary Shares totaling ₦231,745,059,000.00 were found to be valid based on the terms of the Offer and the CBN’s verification. However, 458 invalid applications for 22,765,143 Ordinary Shares totaling ₦221,960,144.25 were rejected, while 548 applications which included odd lots amounting to 198,320 Ordinary Shares (i.e. ₦1,933,620.00) were also rejected. The Public Offer was 237% subscribed and 150% allotted.

With respect to the Rights Issue, 7,559 applications for 4,430,290,237 Ordinary Shares totaling ₦40,980,184,692.25 were received of which 656 applications for 23,037,442 Ordinary Shares totaling ₦213,096,338.50 were invalid based on the terms of the Rights Issue. The Rights Issue was 137.73% subscribed and 100% allotted.

“We are delighted to announce the successful completion of the first phase of our capital raising initiatives through a Public Offer and Rights Issue. The positive result recorded in our Combined Offer is a testament to the strength of the Fidelity Bank franchise in the capital market. It is both gratifying and humbling to note this level of investor confidence in our Bank. We extend sincere gratitude to our investors for their continued confidence in the Bank, as evidenced by the 237.92% and 137.73% oversubscription of our Public Offer and Rights Issue respectively. As we go into the next phase of our capital raising drive, we reaffirm our commitment to providing cutting-edge financial solutions to our customers and sustainable returns to our stakeholders”, commented Dr Nneka Onyeali-Ikpe, OON, Managing Director and Chief Executive Officer, Fidelity Bank Plc.

The funds realised from this initial phase of capital raising will be deployed to local and international business expansion, enhancement of technology infrastructure and deepening customer service initiatives.

With the successful conclusion of the first phase of capital raising, the Board of Directors recently obtained the approval of shareholders to commence the second phase and is confident of meeting the new regulatory capital for banks with international authorisation before the CBN’s deadline of March 31, 2026.

Following the CBN’s publication of the revised minimum capital requirement for banks in March 2024, Fidelity Bank with its combined offer of June 2024, became the first financial institution undertake a public offer on the Nigerian Exchange Group.

From an offer price of N9.75 per share for the Public Offer and N9.25 per share for the Rights Issue in June 2024, the Bank’s shares traded at a high of N21.15 on February 7, 2025, a growth rate of over 116%, the highest for any financial institution in the banking industry.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 251 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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Video: I Won’t Apologise For Your ‘Forgetfulness’ – Naja’atu Muhammad dares Ribadu

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Founder and Chairman board of trustees of the Northern Star Youth Initiatives, Hajia Naja’atu Muhammad, has reacted to reports of the National Security Adviser (NSA), Nuhu Ribadu, demanding apology over her viral TikTok video.

Naja’atu, in a recent video sighted by our correspondent, dared the NSA to go to court if he has issues with her statement, saying she’s not ready to apologise for his ‘forgetfulness’.

Meanwhile, Hajia Muhammad, in the viral TikTok video, claimed that the current NSA is serving in President Bola Tinubu’s government, whom he had criticised as ‘corrupt’ when he was the Chairman of the Economic and Financial Crimes Commission (EFCC).

However, Tribune Online reports that the NSA Ribadu, through his lawyer, Dr Ahmed Raji (SAN), said he never publicly or privately accused Tinubu of being a corrupt government official.

The NSA therefore urged Naja’atu Muhammad to tender an unreserved apology, noting that the damage had been done to his reputation.

But Naja’atu Muhammad, while responding, said she stood by her original statement and would never be intimidated by those she referred to as “attack dogs” from the NSA.

She said, “There’s no retreat. No surrender. No apologies to Nuhu Ribadu. I’m speaking in response to the recent threats and intimidation by Nuhu Ribadu using his attack dogs and his lawyer, Ahmed Raji and Co.

“Regarding my statement that the then chairman of the EFCC had publicly accused the then Governor of Lagos State, Ahmed Bola Tinubu of being and I quote ‘a corrupt government official who will not escape justice’.”

Continuing, she noted her acknowledgment of the possibility of Nuhu Ribadu to have forgotten or retracted his past comment, but stated that her words accurately reflected her views on the matter already in public domain.

“While I acknowledged that Nuhu Ribadu might have forgotten or chosen to retract his comment from the past, I stand by my statement and do not believe an apology is warranted. Apology to whom exactly? To President Tinubu for the earlier comments made by his now National Security Advisor? Or apology to Nuhu Ribadu for his forgetfulness and master-serving mindset.

“I stand by my original statement and will not be retracting it. My words accurately reflect my views on the matter based on what is already in the public domain. And I do not believe an apology or retraction is necessary,” Naja’atu Muhammad added.

The Northern Star Youth Initiative leader urged the NSA to approach the court as he has threatened, saying, “I will not compromise my position to appease Nuhu Ribadu and his attack dogs. I will not retract my statement nor will I apologize for speaking the truth as I see it. You have issues, as you’ve threatened; please go straight to the court. But nothing will silence me.”

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Speaker Mojisola Meranda Calls For United Action To End Female Genital Mutilation

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Lagos Speaker Mojisola Lasbat Meranda has reaffirmed commitment to ending Female Genital Mutilation (FGM), calling for a united front against the practice.

In a statement marking the International Day of Zero Tolerance for Female Genital Mutilation, Meranda condemned the violation of human rights that affects millions of girls and women worldwide.

Meranda emphasised the need for accelerated efforts to end FGM, stressing that it’s a responsibility that goes beyond governments to every individual. She vowed to push for policies that raise awareness and protect potential victims, ensuring the health, dignity, and rights of young girls are safeguarded.

She said: “This year’s theme, #StepUpThePace, is a call to action. We must accelerate efforts to end this barbaric practice once and for all. It is not just the responsibility of government but of every individual – whether you are a legislator, a healthcare worker, a professional or simply a concerned human being.

“We must unite to protect the future of our daughters and ensure their health, dignity and rights are safeguarded. I commit to pushing for policies that protect girls, raise awareness and put an end to this atrocity.”

The Speaker urged everyone to take action in their respective capacities to put an end to FGM, emphasizing that together, a world free of this harmful practice is possible.

 

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