News

Lagos Lawmakers Pass Confidence Vote On Obasa, Name Colleagues Creating Crisis

Published

6 years ago

October 12, 2020

Editor

Thirty-five members of the Lagos State House of Assembly on Monday denied a reported plot to impeach their Speaker, Rt. Hon. Mudashiru Obasa. They also passed a vote of confidence on the Speaker.

The lawmakers, who praised the Speaker’s style of leadership, named a member, Hon. Olumuyiwa Jimoh, as the brain behind the false information and sometimes, outright fake stories about the House and its leadership.

The lawmakers passed the vote of confidence after their colleague representing Somolu Constituency 1, Hon. Rotimi Olowo, raised a motion eulogising the Speaker over the way he runs the affairs of the House.

Olowo thanked the Speaker for addressing the EndSARS protesters at the late hours of Thursday despite his tight schedule, saying it was rear for a leader to do such at that period of time.

“I raise this afternoon to appreciate you and the Deputy Speaker for the prompt attention and response to the EndSARS protest. On Thursday, my son in Canada told me he saw you and the Deputy Speaker addressing the youths at midnight.

“It shows that you are not just a leader but a brother whom blood runs in his vein. And we all know that the youths is the strength of this nation. There are youths who are doing negative things but we have many who are very hardworking.

“They have won many accolades and awards in and outside Nigeria. For you to have taken time to address the protesters, it shows you are more than a leader but a father and a builder.

“In addition, on Friday, you called an emergency plenary to address the issue of the EndSARS protesters; it shows you are a father and a leader. Aside that, you have done things that make me to appreciate you. The preservation of Yoruba language and culture by introducing the speaking of Yoruba language during plenary session on Thursdays.

“Before I will move vote of confidence in you, I want to say this, that you should allow members to raise their voice and as well their hands and allow them to speak because the mischievous people have started again with intention to destroy your person.

“On Saturday, I read on the social media that 26 members of the Lagos state House of Assembly have begun to sign for your impeachment. I don’t know the 26 the report was talking about because I know that you have the majority in this House. And I also know that we are more than 26 who are your followers in this House because you are a great man.

“We should know the 26 members that have signed for your impeachment today. So, I want to urge you, Mr Speaker to allow the members to talk and eulogise you because you are doing well”, said Olowo.

“In his comments, the lawmaker representing Surulere 1, Hon Desmond Elliot, said the issue of lawmakers signing impeachment notice against the speaker was becoming too much, saying that the leadership should invoke the suspension of erring members.

Also, Hon. Fatai Oluwa ( Ajeromi Ifelodun 2) clarified that he was part of the lawmakers who travelled to Turkey as against the earlier false story that the Speaker went alone.

“I was part of the lawmakers who travelled to Instabul in Turkey but to may surprise in the report I read online, Hon. Wahab Jimoh’s name was not mentioned as part of beneficiaries. This shows that he was the one who was divulging information about this House to the media,” he said.

The lawmaker representing Ifako/Ijaiye 1, Hon. Temitope Adewale, assured the Speaker of his loyalty, saying that before he was elected, he had known the House to be a peaceful Assembly.

Adewale also accused Hon. Wahab Jimoh of divulging unauthorised information of the House to the media, saying that he listened recently to a voice note where the alleged lawmaker told some people to search for Houses owned by the Speaker abroad and in Nigeria.

Also, Hon. Olusola Sokunle ( Oshodi-Isolo 1) said his loyalty to the Speaker remains unshakable, adding that those fingered in the act of divulging information of the House to the media should be suspended.

“My loyalty to Speaker Obasa is unshakable. I don’t know why some people would be after pulling Mr Speaker down at all cost. We want the Majority Leader to speak out and make it clear where he belongs if he is for the majority or the minority.

“We have information at our disposal that Hon. Wahab Jimoh is searching around for Obasa’s properties in United States. If any information comes out to the media, I suggest that Hon. Wahab Jimoh should be suspended indefinitely. We should also investigate my dear brother, Hon. Moshood Oshun, if he is part of it. When we have peace we will call them back”, said Sokunle.

Hon. Lukmon Olumoh ( Ajeromi/Ifelodun 1) said: “I don’t know why some members will want to bring the Speaker down at all cost despite his wonderful contributions to the growth and development of State parliament in Nigeria and Lagos in particular. I want to assure Mr Speaker that I remain loyal to him and will stand with him till the end”.

Hon. Victor Akande ( Ojo 2), on his part, described Obasa as a listening leader who accommodates members’ views on issues, saying that the Speaker was instrumental to his re-election.

“I will want the Majority Leader to speak out on where he belongs on this House. We are majority in this House and he is our majority leader. The minority cannot rule over the majority”, said Akande.

While responding, the Majority Leader, Hon. Sanai Agunbiade, said he was embarrassed by the comments of those asking him to state where he belongs on the issue. He added that with the vote of confidence passed on the Speaker, those behind the purported impeachment plan have been disgraced.

“I know fully well that impeachment of the Speaker cannot be done on the social media and it takes a process,” said Agunbiade.

All lawmakers in attendance took turn to appreciate the legislative acumen and leadership of Speaker Obasa.

However, the Speaker of the House, Rt (Hon) Mudashiru Obasa, said: “I don’t entertain any fear concerning the media reports. My becoming the Speaker was through the Almighty Allah. This House of Assembly is one and will remain one forever. The House is not divided.”

Obasa said that the media report that the Economic and Financial Crimes Commission (EFCC) has uncovered 40 duplexes and other properties linked to him was the handiwork of his political enemies.

“I strongly believe that my becoming Speaker was by divine intervention. It was not something planned. It happened through the will of Allah. Being here today as Speaker with you is still by the grace of Almighty Allah. So, if one believes this, he would have peace of mind,” he said.

The Speaker said the House is one and continue to remain one.

“This House will never be divided. If there is anybody that is not please let him adjust himself. Let us see this House as our responsibility.

“I have been here for a while, a Speaker had been removed, a Deputy Speaker had been removed. So, if anybody is removed, he should take it as part of the process of the House. Nobody, including me, can say that without him the House cannot progress. We should desist from that,” he said.

Obasa noted that everything that has happened since March concerning tuf Assembly is political.

“The interest is to get the Speaker out of way, not because of Mudashiru Ajayi Obasa. There have been allegations upon allegations and we challenged them to bring evidence of awarding contracts to family members, nobody has been able to bring any. We have challenged them to bring approvals that we have not implemented, nothing.

“They have taken me to EFCC. I have been invited and I have honoured their invitation. The invitation continues. So, it is nothing but desperation to get the Speaker out of the way. I just hope EFCC would not allow itself to be dragged into political matters.

“Let us continue to work together in the interest of our people. Those who are chasing shadows will get tired.

“Muyiwa Jimoh was calling America asking for Obasa’s house number. We have the evidence. We have many records and this is a colleague. We just ignored so many things.

“We thank God we are almost all members in the House today and we heard what every member said. It shows that the House is one and peaceful. We will continue to be so and not allow anybody to distract us from doing what we are here for.

“Once again, I pray that Almighty Allah will continue to support each one of us as you have always supported me in this assignment. Thank you.

News

ZENITH BANK CROSSES N1 TRILLION MARK IN Q1 2026 GROSS EARNINGS

Published

8 hours ago

May 5, 2026

Editor

Zenith Bank Plc has announced its unaudited results for the first quarter ended 31st March 2026, with a 6% growth in Gross Earnings, from N950 billion reported in Q1 2025 to N1.01 trillion in Q1 2026. This is despite the challenging operating environment and tightening monetary policy stance.

From the unaudited statement of account submitted to the Nigerian Exchange (NGX) on Thursday, 30th April 2026, this growth was driven by increase in interest income and non-interest income. The increase in interest income was primarily due to the expansion of the Bank’s risk asset portfolio, supported by disciplined, risk adjusted pricing. Interest expense moderated by 5% YoY in Q1 2026 underscored by a continued optimisation of the Bank’s deposit mix and funding structure. This resulted in a 7% growth in net interest income from N591 billion in Q1 2025 to N634 billion in Q1 2026. Non-interest income also improved 19% year on year, rising from N89 billion to N106 billion, highlighting an improvement in fees and commissions and higher contributions from other operating income streams. This performance reflects stronger customer activity and deeper transaction volumes across key business channels.

As a result, the Group recorded a 3% year on year increase in profit before tax, which rose to N361 billion compared with N351 billion in Q1 2025. Profit after tax also increased by 1% to N314 billion.

Profitability was further supported by a decline in cost of funds to 3.76% in Q1 2026 from 3.90% in Q1 2025; while cost of risk moderated to 2% in Q1 2026, reflecting a prudent and proactive risk management stance in an elevated yield environment.

Gross loans increased by 9% from N11.06 trillion as at full year 2025 to N12.04 trillion in Q1 2026, reflecting the continued commitment to carefully deploying credit into high growth sectors of the economy that enhance portfolio returns. Asset quality strengthened as Non-Performing Loan (NPL) ratio eased to 3.79%, from 3.82% reported in December 2025, underpinned by disciplined credit risk management. Customer deposits rose to N24.47 trillion in Q1 2026, while total assets increased by 2% to N32.01 trillion over the same period.

Return on Average Equity (ROAE) and Return on Average Assets (ROAA) stood at 24.9% and 4% respectively, supported by strong top line earnings and enhanced balance sheet efficiency. Net interest margin (NIM) strengthened to 12.5%, up from 10.3% in Q1 2025, underscoring the Group’s ability to preserve its margins and deliver improved shareholder returns. Prudential ratios remained strong and comfortably above regulatory requirements.

The Group’s Capital Adequacy Ratio (CAR) and Liquidity Ratio stood at 23.5% and 71% respectively, while the coverage ratio remained strong at 169%, reinforcing the Bank’s resilient capital and liquidity position.

The Group’s Q1 2026 performance underscores its continued focus on sustaining high quality earnings growth, further strengthening asset quality, and deepening customer engagement through continued digital innovation. The Bank remains firmly committed to delivering sustainable growth anchored on sound corporate governance, prudent risk oversight, and disciplined capital allocation.

News

Xenophobic Violence: 130 Nigerians Register For Immediate Repatriation

Published

1 day ago

May 4, 2026

Editor

The Federal Government of Nigeria has officially commenced plans for the voluntary evacuation of its citizens from South Africa following renewed xenophobic tensions and anti-foreigner protests.

More than 130 Nigerians have registered to be evacuated back home following last week’s protest march in Johannesburg, according to the latest update by the Ministry of Foreign Affairs.

The figure may rise, The Nation learnt.

A statement by the ministry, which confirmed the presidential directive, reads: “Another Demonstration is planned for 4-8 May 2026.

“The President of the Federal Republic of Nigeria has expressed grave concern on this situation following a briefing, and has called for more effective control of the situation by relevant host security services.

“President Bola Tinubu has directed that the situation be monitored very closely. The Nigerian High Commission and the Consulate are in constant communication with relevant host authorities to ensure that the exposure of our nationals to the current tensions is minimized amidst ongoing Consultations with SA’s highest authorities.

“The president has reiterated that the priority at this time remains the safety of our citizens. Consequently, arrangements are currently underway to collate details of Nigerians in South Africa for voluntary repatriation flights for those seeking assistance to return home.

“So far, 130 applicants have duly registered for the exercise with our mission in S.A, but this figure is expected to rise. Nigerian associations in South Africa are also assisting our mission in this regard.”

“Nigeria is a frontline state which made great sacrifices towards the liberation struggles of South Africa, a fact which needs to be distilled down to the younger generation in South Africa.

“Nigerian lives and businesses in SA must not continue to be put at risk, and we remain committed to working with South Africa to explore ways to put an end to this xenophobic pattern. It has become a repetitive wave, most especially prior to elections in South Africa, and anti-foreigner opposition parties leverage this situation to garner votes. Nigeria recently signed a memorandum of understanding with South Africa on early warning to protect citizens of both countries, especially in times such as these.”

The April protests spearheaded by a local anti-migration movement, in Pretoria and Johannesburg between 27 to 29, witnessed a largely peaceful procession, under the presence of heavily armed police who occasionally sprayed teargas to deter the protesters from engaging in violent activity.

“There is no recorded killing of any Nigerian or destruction of Nigerian- owned properties during this particular protest.

“However, two Nigerian Nationals have been reported killed in separate incidents involving security personnel- Amamiro Chidiebere Emmanuel died on 25th of April 2026 as a result of injuries sustained from brutal beatings by military personnel of the South African National Defence Force on 20th April 2026 in Port Elizabeth.

“Nnaemeka Matthew Andrew also died following an alleged interaction with members of the Tshwane Metro Police, and his body discovered at the Pretoria Central mortuary on 20th April 2026.

“This is utterly condemnable and unacceptable. The Nigeria High Commission is closely following investigations into these unfortunate incidents and Nigeria demands justice be done in these cases.”

News

Desmond Elliot’s Seat At Risk As Surulere APC Stakeholders Endorse Odunuga-Bakare

Published

2 days ago

May 4, 2026

Editor

Prominent leaders and stakeholders of the All Progressives Congress (APC) in Surulere Constituency I have endorsed Barakat Odunuga-Bakare for the Lagos State House of Assembly seat.

Odunuga-Bakare is a former Special Adviser on Housing to Governor Babajide Sanwo-Olu and previously served as the Leader of the Surulere Local Government Legislative Counci

The endorsement came during a week-long consultation tour by Odunuga-Bakare and her team across political wards in the constituency.

The tour covered Wards E, E1, F1, F2, F3, G, G1, G2 and G3, as well as meetings with other party stakeholders, ending on Saturday.

Odunuga-Bakare, who recently resigned as Special Adviser on Housing to Governor Babajide Sanwo-Olu, is seeking the All Progressives Congress (APC) ticket for the constituency.

She is expected to contest the party’s primary against Nollywood actor and incumbent lawmaker, Desmond Elliot, who is seeking a fourth term in office.

Speaking during the meetings on Saturday, Mrs Khadijat Kareem, the Personal Assistant to President Bola Tinubu on Constituency Affairs, described Odunuga-Bakare as competent and experienced, saying she has the capacity to deliver effective representation.

According to Kareem, the aspirant distinguished herself as Leader of the Surulere Local Government Legislative Council and later as Special Adviser to the governor.

She urged party leaders, members, women and youths in the constituency to support her aspiration, expressing confidence that the constituency would benefit from her emergence.

Kareem added that the impact of President Tinubu’s administration was visible across Surulere and stressed the need for a representative who would attract more development to the area.

She said, “When we talk about experience and competence, Barakat has got both. She served well as Leader of the Legislative Council and Special Adviser to Governor Sanwo-Olu, and she will deliver as our representative.

“She is a go-getter, a hard-working person. She is a youth who understands the demands of governance, and she will do well for us.”

Also speaking, Chairman of Surulere Local Government, Mr Sulaiman Yusuf, commended incumbent lawmaker Desmond Elliot for his service but said it was time for another candidate to emerge.

He noted that Odunuga-Bakare had twice stepped down from her ambition in the past following appeals by party leaders and deserved support this time.

Yusuf described her as loyal, capable and performance-driven, adding that she has the qualities needed to represent the constituency effectively.

“Let us be sincere with ourselves, this young woman deserves to be supported for the seat this time around. The other time, she stepped down, but this is her time.

“Mr Desmond Elliot has done his best for the constituency, but there is time for everything. He has served for three terms and it is time to give another person the opportunity.

“Honourable Barakat is young and competent and she is somebody we can rely on for performance. I declare my support for her and I want everyone else to support her,” he said.

He further stated that Chief of Staff to the President, Mr Femi Gbajabiamila, supported her aspiration and urged his supporters to align with the project.

Leader of the Surulere Local Government Legislative Council, Mr Abdul Hakeem Abdul Rahman, also praised Odunuga-Bakare’s contributions to the constituency and called for support for her candidacy.

Other speakers, including ward chairmen, similarly endorsed her bid, citing her role in the development of Surulere.

Responding, Odunuga-Bakare thanked party leaders and members for their confidence in her.

She said she remains committed to the growth and development of Surulere and promised quality representation if elected.

The aspirant urged party members to remain united ahead of the APC primaries scheduled for March 20, saying the focus should be on strengthening the party and advancing the interests of Surulere.

She also pledged not to disappoint supporters if given the mandate.

“I thank you all for this show of overwhelming love for me and support for my bid. God bless you all.

“As you all know, I am passionate about the development of Surulere. I want to represent you at the Assembly to further bring home dividends of democracy. I value your support and love and I urge you to keep supporting me.

“We are having the Assembly primaries on March 20. I am counting on your support to emerge as our party’s flag bearer.

“Please, support my aspiration and I promise you that I will raise the bar and deliver.

“This is not the time to fight; this is a time to unite for the good of APC and Surulere. I am for Surulere and will not disappoint,” she said.

Odunuga-Bakare donated N1 million to party members in each of the wards visited during the consultation tour.