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Otti Affirms Abia Security Readiness After Foiled Abduction Attempts
Abia State Governor Alex Otti confirmed recent kidnap attempts by men suspected to be cattle herders in Abia State but assured residents that the situation is currently under control.
Otti disclosed this in Umuahia on Friday while fielding questions from newsmen at the February media chat with journalists, stating, “I am aware of those incidents and I can assure you that the police are on top of them.
“I actually got a report from the Commissioner of Police on the two incidents today. They are isolated incidents but they happened all the same.
“And because they happened, we need to put procedures and everything in place to ensure that they don’t repeat. But I can assure you that they are isolated and we have in place measures to ensure that those do not happen anymore.”
The incidents occurred the previous week and involved people suspected to be cattle herders who fled after men of the Abia State Homeland Security intervened.
Governor Otti, who reviewed his achievements across all sectors of the Abia economy, also disclosed that the recently flagged-off Enyimba Hotel reconstruction, which has been earmarked for repairs, is owned by the Abia State Government.
According to Otti, “Abia State Government owns 80 per cent. The balance of 20 per cent is owned by the families of ACCIMA — Aba Chamber of Commerce, Industry, Mines and Agriculture — members who had invested in the hotel. By the time we valued everything, we got valuers and what they are entitled to is 20 per cent.
“Of course, the state government does not intend to continue to hold 80 per cent. So if you have money now, you can come and we will sell to you. They — Radisson Blu — are international hotel managers and you must put yourself in a particular way for them to agree to come and manage your hotel.
“It was a good thing because we got them in before we did anything. So they came in with their expertise. The hotel must be in a particular state. It is a five-star hotel, so you must meet minimum standards for them. They must first of all see that the place can afford the hotel brand.
“They must also have faith in the economy and in the management of the economy before they will sign the dotted lines, which they signed, I think, last year. So they are going to lend out their brand, lend out their management, manage the place and we own the place — or any other investor.”
On the nearby Aba River, into which residents have been dumping refuse, the governor said, “We actually do have a comprehensive plan for the Aba River. First of all, to dredge it and let it flow properly. I think it comes all the way from the Blue River. So when it is not flowing, that means you have that kind of problem. It is going to be dredged.
“We have also been working to set up a leisure and entertainment centre there. So we have good plans for that. We have also engaged with some of the companies that discharge their waste and we have made it an offence that is punishable. You must have a way to treat your waste. It is irresponsible to discharge your waste into a flowing river. Some people drink from it.”
Also speaking on the alleged airport project of the previous administration, Otti said, “The EFCC has been inviting people whose money somehow got into their accounts. So we are still on it. And I am sure that at the appropriate time, we will get our money back.”
During the ongoing money laundering trial of former Kogi State Governor Yahaya Bello, a prosecution witness from the American International School, Abuja (AISA), Nicholas Ojehomon has testified that there was no court order mandating the school to refund fees to the Economic and Financial Crimes Commission (EFCC).
The witness, an internal auditor with the AISA, spoke while being cross-examined by Bello’s lawyer, Joseph Daudu (SAN), who asked Ojehomon to read out the part of the judgment, showing that the school erred in refunding the school fees in contention to the EFCC.
The trial judge, Justice Maryanne Anenih had, earlier noted that the school could not unilaterally grant the request for refund by a third party (the EFCC), except in accordance with the agreement or upon a court order.
The witness was told to read out part of the certified true copy (CTC) of the judgment given in a suit marked: FCT/HC/CV/2574/2023, filed by Ali Bello against AISA.
He quoted the judgment as saying, “It is hereby declared that the defendant cannot lawfully and unilaterally grant the ‘request for refund’ and pay over to a third party, the Economic and Financial Crimes Commission, or anyone howsoever described, the sum of $760,910.84 or any other sum paid pursuant to the ‘Agreement for Prepaid School Fees except in accordance with the said agreement or upon an order of court.
“It is hereby declared that any refund/payment of the sum of $760,910.84 or any other sum made to a third party, the Economic and Financial Crimes Commission or any other person, however described, pursuant to any request for refund, or howsoever described, without regards to due process or agreement of the Claimant is in breach of the Agreement for Prepaid School Fees.”
The court also gave “an order of perpetual injunction restraining the Defendant whether by itself, its trustees, members of staff, agents, privies, representatives and or any person howsoever described, from giving effect to any request for refund and/or paying over the sum of $760,910.84 or any other sum paid pursuant to the Agreement, to the Economic and Financial Crimes Commission or anybody or account, howsoever described, except as ordered by a court of competent jurisdiction or with recourse to the due process of law.”
After reading parts of the judgment, Ojehomon agreed that the judgment implied that the school was wrong to have refunded the said fees to the EFCC without a court order.
The witness was also shown the agreement for the prepaid school fees, marked Exhibit AX4, and he confirmed that Yahaya Bello was not a signatory.
Ojehomon, who said he had worked as an internal auditor for AISA for about eight to nine years, added that no payment originated from the former governor.
The court had, while the witness was testifying earlier, admitted the CTC of the judgment in the suit between Ali Bello and AISA, as Exhibit AO.
Justice Anenih, thereafter, stepped down an application challenging the jurisdiction of the Court for ruling and adjourned sitting to May 8.
Senate President Godswill Akpabio has declared that he believes the African Democratic Congress (ADC) is “dead” following a massive wave of defections from the party within the National Assembly.
Akpabio’s comments came during a plenary session as he read several defection letters, including a notice from Senator Enyinnaya Abaribe (Abia South), who officially left the ADC to join the Labour Party.
He said, “Resignation from ADC and declaration for Labour Party. Maybe all those defecting from ADC should just compile everything in one paper and bring it, so that we don’t keep announcing, announcing, announcing. Because I think ADC is dead.”
He continued in a lighter tone, questioning the frequency of political defections.
“How many times can you defect in a month? Once. But some have done three times,” he said.
The Senate President suggested a more coordinated approach to handling defections, urging lawmakers to submit their movements collectively rather than individually.
“So that it doesn’t look like a daily ritual. If you are defecting from Labour, you write all of you. If you are moving from ADC, you write all of you. If you are entering NDC, you write all of you,” he added.
During the session, Akpabio also read a defection letter from Enyinnaya Abaribe, noting his movement across parties in recent years.
“Note that Senator Abaribe has moved from APGA to ADC, and now he has moved from ADC to Labour Party,” he said, joking that such announcements might no longer be read individually going forward.
The development comes amid a broader political realignment in the National Assembly, with at least 17 members of the House of Representatives also defecting from the ADC to the NDC.
In his resignation letter, Umeh cited “lingering divisions in the leadership and unending litigation” within the ADC as reasons for his exit.
“I remain committed to making my contributions towards the development of our dear nation, but this time through the NDC,” he wrote.
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.
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