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CBN Debunks Report On Planned Nationalisation Of Unity Bank

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The Central Bank of Nigeria (CBN) has denied planning to nationalise Unity Bank Plc as alleged by an online news medium.

Reacting to the report, the Acting Director, Corporate Communications Department, CBN, Osita Nwanisobi, described it as, “fake news” and should be discarded in its entirety

He said: “The report is fake news. There is no iota of truth in it.” He added that the public should disregard such news.

The report had claimed that the apex bank’s target examination of Unity Bank showed that the Tier 2 lender is in ”grave financial condition”, with Capital Adequacy Ratio (CAR) and Non- Performing Loans (NPL) ratio that breached prudential standards.

However, analysts note that just last month, the CBN’s Monetary Policy Committee ( MPC) noted in the communiqué it issued at the end of its meeting that the banking industry is in good health.

According to the communique: “the Capital Adequacy Ratio (CAR) and the Liquidity Ratio (LR) both remained above their prudential limits at 15.8 and 38.9 per cent, respectively.

The Non-Performing Loans (NPLs) at 5.89 per cent in April 2021, showed progressive improvement compared with 6.6 per cent in April 2020.”

Unity Bank’s audited FY’ 2020 results showed improved performance in key parameters. For instance, the Bank’s gross loans portfolio increased by 92.9 per cent to N206.2 billion in 2020 from N106.9 billion in 2019.

The bank’s total assets rose by 67.90 per cent when compared with N293.05 billion achieved in the comparative period of 2019.

Also, the lender posted gross earnings of N42.71 billion compared with N44.59 billion recorded in the comparative period of 2019, reflective of its business and economic realities of the time.

Its customer deposit portfolio grew by 34.4 per cent to N356.62 billion in 2020, up from N257.69 billion posted in the corresponding period of 2019. Profit after tax stood at N2.09 billion, while profit before tax was N2.22 billion during the year under review amidst the tough macroeconomic environment where it operated. Its net operating income rose to N25.46 billion from N23.21 billion in the corresponding period of 2019, representing a 9.71 per cent increase.

This is even as the net interest income recorded a significant jump, as it rose by 7.60 per cent to N17.75 billion from N16.49 billion in the corresponding period of 2019.

Furthermore, the bank sustained the growth momentum demonstrated in its 2020 full year earnings as it recorded an impressive performance of 43 per cent in both profit before and after tax in Q1 2021.

The Bank’s unaudited Q1 results show that the retail lender profit before tax (PBT) grew by 43 per cent to N784.3million from N550.1 million recorded in the corresponding period of 2020.
The profit after tax (PAT) for the period, which also grew by 43 per cent stood at N721.5million compared to the N506.1million recorded in Q1 2020.

As an outcome of increased focus on supporting local enterprises and industry, the asset portfolio also showed significant growth in loan book of 76 per cent as net loans and advances to customers increased to N223.2 billion, from N126.6 billion recorded in the corresponding period.

The total assets of the bank for the period showed an appreciable growth of 42 per cent to close at N521.5 billion, from N366.8 billion in the corresponding period of 2020.

The balance sheet of the bank had been considerably de-risked with the non-performing loan (NPL) ratio of near-zero per cent, which it has consistently maintained over time. With this, the bank ranks topmost in risk management assessment.

The bank recorded gross earnings of N11.5 billion, representing a marginal decline of three per cent when compared to N11.9billion posted in the corresponding period of 2020. The bank has assuredly intensified its recapitalization efforts by the recent updates the lender provided to the supervisory authority and significant mileage is currently being recorded as part of its corporate transformation and renewal programmes.

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Delta NMA Declares Blessing CEO’s Cancer Report Fraudulent

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The Nigerian Medical Association (NMA), Delta State branch, has officially debunked the cancer claims made by relationship influencer Blessing Okoro, popularly known as Blessing CEO.

In a statement on Tuesday, the association revealed that the document is an altered version of an original medical report belonging to a different patient diagnosed with breast cancer.

The statement, jointly signed by NMA Delta State Chairman, Dr. Israel Adaigho, and Secretary, Dr. Usamah Hannah, was sighted by The Nation on Tuesday.

According to the NMA, the viral report was purportedly issued by Xinus Medical Diagnostics and signed by consultant pathologist Dr. O.A. Odigwe.

However, Dr. Odigwe, who is the proprietor of the diagnostic centre, clarified that his facility never issued any report to Blessing Okoro.

The association explained that Xinus Medical Diagnostics is located in Asaba, Delta State not Enugu State as claimed in the circulating document.

The centre was contacted in May 2025 by a doctor from a private hospital in Asaba to conduct a confirmatory histology test for a patient identified as Mbara Deborah, who had a suspected case of breast cancer.

The test confirmed breast cancer, and the original result was issued to the referring doctor on May 9, 2025.

The NMA stated that the document currently being paraded online by the law firm Allen Juris Law is the original report bearing the name Mbara Deborah.

The version linked to Blessing CEO appears to be a doctored copy of this same report.

The statement read in part: “Our attention has been drawn to an online histology report purportedly issued to one Blessing Okoro, aka Blessing CEO, by Xinus Medical Diagnostics allegedly located in Enugu State. The said histology report was also alleged to have been signed by Dr. O.A. Odigwe, a consultant pathologist.

“The proprietor of Xinus Medical Diagnostics, Dr. O.A. Odigwe, who is also a member of the Nigerian Medical Association, Delta State chapter, has reached us and offered the following clarification: that Xinus Medical Diagnostics is located in Asaba, Delta State and did not at any time issue any report to Blessing Okoro.

“The centre was contacted in May 2025 by a doctor from a private hospital in Asaba to do a confirmatory test on a possible case of breast cancer for a patient, Mbara Deborah. The test was done and the result issued to the referring doctor as a case of breast cancer on May 9, 2025.

“A copy of that result is the one currently being circulated online by the law firm, Allen Juris Law, with the name Mbara Deborah as the patient. That result from the law firm is the original version issued to the patient through her hospital.”

The NMA said the clarification became necessary because of the way the altered report was allegedly being used to solicit public sympathy and financial assistance.

It urged the public to be cautious and warned against actions that could tarnish the integrity of medical professionals.

The association also called on relevant security agencies to take appropriate steps to protect unsuspecting members of the public.

“The integrity of our association and its members is very paramount and should not therefore be taken for granted.

“We call on the authorities responsible for maintaining law and order to do the needful and save unsuspecting members of the public from being unduly taken advantage of,” it added.

Recall that Blessing CEO recently solicited financial help from the public for the treatment of what she claimed was stage four cancer.

Following widespread backlash and allegations that her medical report had been edited, she made a U-turn, stating in an interview: “I don’t have stage 4 cancer. That was a miscommunication.”

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Abuja Court Jails Boko Haram Food Supplier, Hamatu Modu For 40 Years

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Justice Binta Fatima Nyako of the Federal High Court in Abuja has sentenced Hamatu Modu, a major food supplier for Boko Haram terrorists, to 40 years imprisonment for his involvement in terrorism activities.

Modu, who confessed in the open court to supplying food items and information to terrorists, was put on trial by the federal government through the Attorney General of the Federation and Minister of Justice.

He was slammed with 4- count charges and instantly pleaded guilty to them.

The Director of the Public Prosecution of the Federation, DPPF, Rotimi Oyedepo, SAN, led the prosecution.

In his judgment, Justice Nyako sentenced him to 10 years on each of the count but due to the plea of the defense counsel, the judge ordered that the 40 years imprisonment should run concurrently, giving the convict opportunity to spend only 10 years.

In another development, Isah Ali, another food supplier also in Borno, was jailed 10 years by Justice Nyako.

His jail term will, however, start three years ago when he was arrested and clamped into detention.

The convict confessed to committing the offence as charged.

Justice Nyako ordered that the convicts be made to undergo rehabilitation and radicalization at the end of their service of the jail terms.

The Federal Ministry of Interior was ordered to determine where the two men will serve their jail terms.

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Just In: Kebbi Assembly Speaker Muhammad Ankwai Passes Away

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The Speaker of the Kebbi State House of Assembly, Muhammad Usman Ankwai has passed away in the late hours of Monday, 6 April 2026.

Ankwai, who represented Zuru Constituency under the All Progressives Congress (APC), was elected Speaker at the inauguration of the 10th Assembly on June 8, 2023.

Details surrounding the circumstances of his death were not immediately disclosed at the time of filing this report.

His death has, however, triggered an outpouring of condolences from fellow lawmakers, political associates, and residents across Kebbi State, many of whom have described him as a dedicated public servant who contributed to legislative development in the state.

Further announcements regarding burial arrangements are expected to be made by his family soon.

 

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