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Nigerian Access Bank enters the Cameroonian market

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Nigerian banking group Access Bank just created a subsidiary in Cameroon. With an initial capital of about XAF14.5 billion, the new subsidiary’s headquarters will be in Douala, Cameroon’s economic capital.  

The administrative board of this subsidiary is constituted of seven members with only one Cameroonian, the legal notice published for the creation indicates. These members are Patience Melone, Iyabode Soji-Okusanya, Fatai Oladipo, Abraham Aziegbe, Ibukunoluwa Odegbaike, and Elliz Nzo Azu.

Created for a duration of 99 years, the bank has chosen Price Water House Coopers as its external auditor and will operate in the management of current accounts, savings collection, checks payment and credit granting.

As required by the rules in force, the launch of Access Bank Cameroon’s activities in Cameroon is still subject to the issuance, by the Ministry of Finance and the banking commission COBAC, of various legal notices and authorizations to the bank’s shareholders.

If it succeeds in launching its subsidiary in Cameroon, Access Bank Plc will become the 16thcommercial bank to operate in the country and will meet one of its compatriots, United Bank of Africa (UBA), on that market. Let’s note that it is entering the Cameroonian market some years after the departure of another Nigerian group, Oceanic Bank International namely.

Some years ago, Oceanic Bank International took over 54.5% of Union Bank of Cameroon’s (UBC) assets saving it from bankruptcy. However, in 2011, Ecobank had to buy Oceanic Bank International’s assets in UBC, which is a well-rooted bank in the Anglophone regions of Cameroon.

Let’s note that last January 15, 2019, Access Bank Plc’s executive director Victor Etokwu announced that apart from the Cameroonian subsidiary, the banking group would create subsidiaries in two other African countries this year. The banking group will then have 18 subsidiaries in Africa.

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Just In: U.S. Strengthens Nigeria’s Security With Major New Military Shipment

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The United States has delivered military supplies to Nigerian security agencies in support of ongoing operations in the country.

 

The United States Africa Command, AFRICOM, announced the delivery in a post on X on Tuesday.

 

“US forces delivered critical military supplies to our Nigerian partners in Abuja. This delivery supports Nigeria’s ongoing operations and emphasizes our shared security partnership,” AFRICOM said on X.

 

Nigeria in recent times has faced an upsurge of insecurity, with hundreds being kidnapped.

 

US forces launched airstrikes on terrorist enclaves in North-West Nigeria on Christmas Day.

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Chief (Mrs.) Lucia Onabanjo, Widow Of Bisi Onabanjo, Dies At 100

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Chief (Mrs.) Lucia Onabowale Onabanjo, the widow of Ogun State’s first civilian governor, Chief Victor Olabisi Onabanjo, has passed away at the age of 100.

 

Her passing was announced by her daughter, Ms Olubukunola Onabanjo, on Tuesday.

 

According to Ms Onabanjo, the matriarch of the Onabanjo dynasty died at the age of 100.

 

She said in a statement: “The family of Chief Victor Olabisi Onabanjo, former Governor of Ogun State, announces with deep sorrow, yet with gratitude to Almighty God, the passing of our beloved mother, grandmother and great-grandmother.

 

“Chief (Mrs) Lucia Onabowale Onabanjo (1925–2026) was called to glory on Monday, January 11.

 

“We thank God for her long and fulfilled life, and for the enduring legacy of love, strength and faith she leaves behind.

 

“May her soul rest in perfect peace.”

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Emulate Oyebanji’s Humility: Fayose Urges Fubara To Reconcile With Wike Following Impeachment Crisis

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Amid the political rivalry with the Minister of the Federal Capital Territory, FCT, Nyesom Wike, a chieftain of the Peoples Democratic Party, PDP, Ayodele Fayose, on Tuesday, urged Governor Sim Fubara of Rivers State to emulate his counterpart from Ekiti State, Biodun Oyebanji.

 

Fayose said Fubara should be like Oyebanji who once begged him for support.

 

Speaking in an interview, Tuesday, on Arise Television, Fayose urged Fubara to be humble to Wike because the Minister gave him the platform.

 

He said: “May I say this to you and to Nigerians, you brought up, like the example I have given, you brought up your child, you trained her, and somebody says I want to marry this girl.

 

“The credit goes to you. If you have left that girl rotten, ordinary carpenters and people who have no capacity will be chasing her.

 

“He must have capacity at different levels of life. Life is about level by level. God has graduated this life like a pyramid, you have Asiwaju up there, the governors, the ministers, everybody is at a level.

 

“You can’t tell me, majority of times, you can’t tell me a man who is down the ladder wants to marry a queen somewhere. They will tell you, you don’t have the capacity.

 

“So let’s go back to the issues, everybody must have helped everybody in life. But God in himself, God says I hate ingratitude. I will only fight with what I have left.

 

“You can’t sack Wike from Rivers politics, you can’t sack me from Ekiti politics. I’m not supposed to say what I want to say to you now and I will say it to you.

 

“It’s about Ekiti politics. I was in this house three years ago. The current governor of Ekiti is of the APC extraction. I am of the PDP. He came to this house, he said, leader, I would want to visit with you. I said, you’re welcome, Your Excellency.

 

“He came here and sat on the chair and said, Your Excellency, I want to beg you, I want you to come to my support and my aid. I want you to stand by me in this government. I didn’t go to him. He’s the governor. He deserves all honour.”

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