Headline

Compel EFCC to Investigate, Prosecute Oshiomhole, Anti-Corruption Crusader Tells Court

Published

7 years ago

June 15, 2018

Eric

A human rights activist and Anti-Corruption crusader based in Benin City, Bishop (Dr) Osadolor Ochei JP, has dragged the Economic and Financial Crimes Commission (EFCC) to a Federal High Court sitting in Abuja.

The case has the EFCC and Adams Oshiomhole as first and second respondents. The law suit is at the instance of EFCC’s refusal to attend to a well detailed Petition of the Applicant (Bishop Osadolor) to the 1st Respondent dated 28th October, 2016 and published in the Daily Sun Newspaper of 7th November, 2016, together with other national newspapers, bothering on economic and financial crimes against the immediate past governor of Edo State, Comrade Adams Oshiomhole.

In a Motion Ex-Parte, the applicant Bishop Ochei is praying the court to as a matter of urgency tp compel the EFCC to commence the investigation and prosecution of the former governor in pursuant to Sections 6(b) & (h) and 13(2) of the EFCC Act, 2004.

The Applicant in his suit said he has complained to the 1st Respondent (EFCC) about allegations of corrupt practices as well as economic and financial crimes against the 2nd Respondent (Oshiomhole), on a number of occasions, without eliciting any response or interest from the 1st Respondent in this regard. The 1st Respondent failed to examine and investigate the said allegations upon such reports to it.

Bishop Ochei, said that the 1st Respondent owes Nigeria and Edo State a duty to unearth the truth by meticulously investigating these allegations to ascertain the extent of complicity and culpability of the 2nd Respondent with respect to these allegations levelled against him.

The motion exparte filed by the applicant’s counsel West Idahosa & Co. stated the Respondent’s legitimate means of income as Governor. The 1st Respondent did nothing about the said petition. The Petition and its annexures are attached as Exhibit “A”, while the satellite images of the compound, fence, and existing building are attached as Exhibits “A1, A2, A3, A4, A5 and A6”.

That on 4th November, 2016, the Applicant sent a petition to the 1st Respondent against the 2nd Respondent’s corrupt practices while he served as Governor of Edo State. Amongst the allegations made against the 2nd Respondent by the Applicant are the following:-

That the Applicant repeated the allegation that the 2nd Respondent built a sprawling mansion worth more than N10 billion naira in his home town known as Iyanho, Edo State. The said building was constructed by Verissimo, a South African Architectural outfit. The said house of the 2nd Respondent has swimming pools, water fountains, multiple theatres for cinema and live performances, huge event halls, bridges, manmade lake, lodges of different sizes amongst others. The said cost of building the mansion is well outside the 2nd Respondent’s legitimate income. The 2nd Respondent’s lifestyle and extent of the said property were not justified by his sources of income. The Applicant’s Petition is attached as Exhibit “B”, while the reminder from the Applicant is attached as Exhibit “B1”.

That the 2nd Respondent bought a property along Okoro-Otun Avenue, G.R.A., Benin City owned by Edo State Government while serving as Governor of Edo State in an insider deal without due process and in abuse of his oath of office. The Okoro-otun property acquired by the 2nd Respondent was originally given to University of Benin as a gift by Edo State Government. The 2nd Respondent, while a dispute was pending in Court between University of Benin and Edo State Government, forcibly acquired the property for his personal use. The 2nd Respondent has since erected a structure with an underground apartment, roof-top swimming pool, another giant structure worth more than N500,000,000 (five hundred million naira) which is far beyond his legitimate income. At the time of the sale, the open market price of that magnitude of property and in that such high-brow location was about N100 million naira. This transaction took place while the 2nd Respondent was Governor of Edo State and he bought the said property for just N23 million naira vide an Access Bank cheque.

That the 2nd Respondent authorized and awarded the highly inflated contract and payment within a relatively short time for the construction of 168 hostels rooms in Edo State University, Iyamho for the sum of N1.88 billion naira. The average cost per room translates to N10 million naira for each hostel room. This contract was awarded to the firm of A & K Construction Limited without compliance to due process. Similarly, the 2nd Respondent authorized and awarded the highly inflated contract of building the Teaching Hospital of the said University for the sum of N12.2 billion naira without compliance to due process. The Memorandum of Approval by the 2nd Respondent is attached as Exhibit “C”.

That the 2nd Respondent authorized and approved the diversion of N1.2 billion naira approved for the construction of a new accident and emergency ward complex and renovation of existing structures in the Central Hospital, Benin City for the payment of additional 10% advance payment to A & K Construction Limited for the construction of the Teaching Hospital of the University of Science and Technology, Uzairue (also known as Edo State University, Iyamho, without compliance with due process and against public interest. The Memorandum of Approval of the said diversion is attached as Exhibit “D”.

That the 2nd Respondent borrowed N25 billion naira from the Capital Market through the issuance of bonds. He purportedly paid the first N6 billion naira to Hitech Construction on March 2, 2011 and listed several roads as part of Phase One of the Storm Water Project to include Adolor College road, Textile Mill road, and a host of others. These roads are largely abandoned with little or no work done by Hitech Construction Company. The gullies created as a result of initial work have become major sources of flooding in Benin – City. More than six persons have been killed by this artificial flood.

That the 2nd Respondent authorized and awarded the construction of the 7.2 kilometer Ogba/Airport Road, Benin – City to Servetek Construction Company Limited for construction of drainage structures and dualization from Ring Road to Ogba River Bridge for industry record setting sum of N4.4 billion which translate to N611 million naira per kilometer without compliance with due process.

Following disputes with the Company on how the money was to be shared amongst stakeholders, the Company refused to work further and the contract was terminated. It was re-awarded to Setraco Nigeria Limited for over N12 billion naira, on the pretext that 17 Acres roads were to be constructed along the main Airport Road. It was later discovered that these access roads were re-awarded as stand-alone contracts with new cost tag. The contracts were awarded without compliance with due process.

That the 2nd Respondent authorized and awarded the construction of the Emergency / Accident Unit of the Central Hospital, Benin – City, to Company for the sum of N2.7 billion naira and later reviewed same upwards to over N3 billion naira. The constructed building subsequently collapsed killing the owner of the Company, Dr. Stefano De La Roca and confident of the 2nd Respondent. The contract was thereafter re-awarded to another company, SCL without penalizing the previous Company for the poor work done and thereby causing serious financial loss to Edo State. The said SCL is also one of the Companies that constructed the Lord of the Manor Proto-type mansion and adjoining premises of the 2nd Respondents at Iyamho in Edo State.

That in 2012, the 2nd Respondent initiated and authorized the approach to the World Bank to secure a loan of $225 million dollars under the First Edo State Growth and Employment Support Credit project with identification number “P123353”. The World Bank paid Edo State Government $75 million U.S. dollars as initial payment and another $75million U.S. dollars as second installment, despite massive protest by Edo people.
The said second installment which was domiciled in Access Bank was largely transferred to private off shore accounts and round tripped to the detriment of Edo State.

That the 2nd Respondent authorized and approved the counterpart fund scheme between Edo State Government and Bank of Industry with each party providing N250 million naira each. This agreement was reached in December, 2009. From the enquiries made by Applicant only N41.6 million naira was disbursed. The balance sum was diverted for personal gain and to the detriment of Edo State residents.

That the 2nd Respondent received over N500,000,000.00 (five hundred million naira) as security votes. These funds were diverted to proxy accounts according to available records. For instance, One Chief M.A. Kadiri collected sums of money approved by the 2nd Respondent and totaling about N42 billion. In December 2014, 2nd Respondent approved N700 million naira which was collected by the same Chief M.A. Kadiri on grounds of urgent security challenges when there was no security threat to justify the purported use of such an astronomically huge amount of money. The said funds were collected by Chief M.A. Kadiri for the benefit of the 2nd Respondent and to the detriment of the residents of Edo State. Copies of memoranda showing some of the receipts by Chief M.A. Kadiri, as approved by the 2nd Respondent are attached as Exhibits “E1-E4”, copies of some of the approvals are attached as Exhibits “E5-E11” and copies of payment vouchers are attached as Exhibits “E12-E22”.

That the 2nd Respondent approved the purchase of vehicles at ridiculous prices from Sata Motors Limited, a Company owned by one Hon. Gani Audu who was also a Personal Assistant to the 2nd Respondent without compliance with due process and in abuse of the office of Governor of Edo State occupied by the 2nd Respondent. The vouchers are attached as Exhibits “F1, F2 & F3”.

That the 2nd Respondent purportedly acquired properties in United States of America, South Africa and Dubai worth billions of U.S. dollars and far in excess of his legitimate income while serving as Governor of Edo State.

That on December 31st 2014, the N.N.PC. paid $54.9 million dollars to Edo State Government and her Local Government Councils as contributions to Power Sector “Special Sector Intervention Fund”. That the money did not reflect in the income of the State till date was never captured by an Appropriation Act for the State. There is no place in Edo State where any project was built with funds from the so-called special Sector Intervention Funds. The said funds were merely diverted for the private use of the 2nd Respondent. Copies of the NNPC statement of transactions showing withdrawals from the Excess Crude Account and disbursement to Edo State are attached as Exhibit “G”.

That the Petition of the Applicant to the 1st Respondent contained weighty allegations bothering on corrupt practices that ought to have been investigated given the effect of corruption on the stunted socio-political and economic growth of Nigeria to the detriment of all persons resident therein.

That the 1st Respondent owes Nigeria and Edo State a duty to unearth the truth by meticulously investigating these allegations to ascertain the extent of complicity and culpability of the 2nd Respondent with respect to these allegations.

That by the Applicant’s letter dated 28th October, 2016 and received by the 1st Respondent on 04/11/16, the attention of the 1st Respondent was drawn to the allegations made against the 2nd Respondent by the Applicant. The 1st Respondent failed or neglected to invite the 2nd Respondent for investigations into the said allegations.

That failing the said invitation of the 2nd Respondent by the 1st Respondent for investigations, the 2nd Respondent began to boast openly to his kindred that he was untouchable and that no anti-corruption Agency of Government would dare investigate him.

That in the Applicant said Petition to the 1st Respondent, the Applicant laid out the allegations against 2nd Respondent and requested the 1st Respondent to investigate the said allegations. The Petition was published in the Daily Sun edition of Monday, November 7, 2016. The copy of the Newspaper publication is attached as Exhibit “H”. Copies of other newspapers are attached as Exhibits “H1, H2, H3 & H4”.

That following the said failure of the 1st Respondent to investigate the allegations against the 2nd Respondent, the Applicant wrote a reminder to the 1st Respondent and same was received by 1st Respondent on 13th December, 2016. Thereafter, one Barr. Eze of EFCC call the Applicant on telephone on 5th January, 2017, requesting for evidence to support the petition. On 9th January, 2017, the Applicant sent the documentary evidence and analysis of evidence done by him to the 1st Respondent by DHL with tracking number 6888917195. The said document was delivered to 1st Respondent on 12th January, 2017 at 09.01am and was received by one Daniel Tsamiya. A copy of the reminder is attached as Exhibit “I”.

That despite the said petition and the reminder sent by the Applicant to the 1st Respondent, demanding that it performs its duty by investigating the allegations against the 2nd Respondent, the 1st Respondent did not investigate the 2nd Respondent or even reply the Applicant’ letters.

That consequent upon the refusal of the 1st Respondent to investigate and prosecute the 2nd Respondent, the Applicant have no option than to approach the Court of Law for an Order mandating the 1st Respondent to perform its statutory duties as required by law.

That the Applicant is an indigene of Edo State who are entitled to enjoy the benefits of good erosion / flood control, good roads, adequate security coverage and other rights flowing from their residency in Edo State and citizenship of Nigeria; which they have been denied as a result of the corrupt activities of the 2nd Respondent.

17. That the Applicant is a fulltime Clergy man, being a Bishop of the Divine Heavenly Vision International Ministry Inc., Benin City. He lives on offerings from the Church and has no earnings upon which he can be taxed. His Church does not engage in any form of business whatsoever.

18. That the Applicant is a dutiful citizen of Nigeria who is committed to the performance of his duties to the nation in order to make positive contributions to the advancement, progress and well-being of the country.

19. That the Applicant, pursuant to his constitutional duties to render assistance to appropriate and lawful agencies in the maintenance of law and order sent several petitions to the 1st Respondent complaining about the economic and financial criminal activities of the 2nd Respondent in his capacity as Governor of Edo State from 2008 to 2016. The Applicant did not receive any positive response from the 1st Respondent despite petition, reminder, documentary evidence and numerous visits to the Headquarters of the 1st Respondent with respect to the said petitions.

20. That the said petitions are in public interest and are supported by ample documentary evidence. The petitions did not seek any particular method in which the 1st Respondent was to do its job other than to invite the 1st Respondent to investigate the allegations made against the 2nd Respondent.

21. That the Applicant is specially aggrieved by the failure of the 1st Respondent to act on the said petition for the following reasons:

As a result of the miss-use and abuse of public funds by the 2nd Respondent, the road leading to the Applicant’s house and other roads in the locality remained untarred despite several requests from the Applicant to Edo State Government to do so and the said Government continually claimed that they had no sufficient funds while 2nd Respondent was busy expending public funds on his expensive lifestyle, including acquiring mansions all over the world at costs outside his legitimate income. Several letters from the Applicant’s community to the 2nd Respondent requesting the development of the said community are attached as Exhibits “J1, J2, J3 & J4”.

The failure to tar Applicant’s road and other roads in the locality has led to frequent repairs on Applicant’s car and loss of valuable time due to frequent visits to mechanic workshops. The same is applicable to others who reside in the area. The receipts of repairs of Applicant’s car are attached as Exhibits “K1, K2 & K3”.

The Applicant and many other ordinary citizens had a hard time gaining access to medicare as the Central Hospital in Benin City which 2nd Respondent claimed to have spent billions of naira of public funds on was not equipped and remained non-functional. Applicant and others had to practically beg for contributions to receive medicare from private hospitals.

These reasons prompted Applicant to carry out an enquiry into how 2nd Respondent’s spent public funds belonging to Edo State and Applicant found out that 2nd Respondent was not prudent in the use of such funds and frequently diverted funds meant for the development and security of the State to private use.

The Applicant found out that the 2nd Respondent wasted hundreds of millions of naira on chartered flights, when public facilities in the State were abandoned and the public denied the benefit of these facilities. Copies of the approved vouchers for some of such chartered flight expenditure are attached as Exhibits “L1 – L13”.

The 2nd Respondent spent millions of naira for choice drinks when major public facilities like roads, hospitals and schools were in dilapidated conditions. Copies of the approved vouchers for the purchase of soft-drinks are attached as Exhibits “M1-M22”.

That the failure of the 1st Respondent to act on the Applicant’s petitions gave the impression that public officers are entitled to use public funds arbitrarily and outside public good.

That the failure of the 1st Respondent to act on the Applicant’s petitions was contrary to Section 15(5) of the 1999 Constitution (as amended) which enjoins the State to abolish corrupt practices.

That the failure of the 1st Respondent to act on the Applicant’s petitions has enabled the 2nd Respondent’s successor in office, Godwin Obaseki, to largely continue with the 2nd Respondent’s arbitrary and corrupt use of public funds.

That the Applicant would continue to suffer lack of access to good roads, medicare and other government subsidized essential facilities due to the failure to investigate the Applicant’s petitions against the 2nd Respondent and prosecute him accordingly by the 1st Respondent in other to serve as deterrent to other public office holders in Edo State.

That the Applicant as a dutiful citizen is desirous of ensuring that the war against corruption which is founded on the 1999 Constitution is fought without regard to a suspect’s political affiliation or class. The 2nd Respondent is an APC Stalwart and is taking advantage of his membership of the ruling party to influence the 1st Respondent from doing its job.

That the 1st Respondent has investigated similar petitions against public officers of opposition parties and prosecuted them for lesser offences.

That since then the Applicant who is resident in Benin City has repeatedly visited the office of the 1st Respondent in Abuja to no avail. Even in April, 2018, the Applicant visited the 1st Respondent’s said office for a feedback and was snubbed as usual.

That the Applicant being a Citizen of Nigeria interested in the Rule of Law, the Supremacy of the Constitution and the enforcement of existing laws has instituted this action to ensure that the 1st Respondent appears before this Honourable Court to explain why the very strongly worded petition, backed with facts and a prima facie case were not treated by the 1st Respondent despite the duty imposed on it by the law to do same.

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Bella Disu: The Rise and Rise of a Boardroom Guru

Published

6 days ago

March 9, 2025

Eric

By Eric Elezuo

Nigerian women have shown resilience, strength and character in administration, government and entrepreneurship, contributing more than their quota, and giving vent to the growth and development of the nation’s socio-economic sector. Among them is the Executive Vice Chairman of the A-list communications outfit, the Globacom Group, Mrs. Bella Disu.

A strong purpose-driven professional and boardroom guru, whose administrative skills, intellect, experience and academic trajectory have remained a subject of reference, Bella, as she is fondly called, is a woman, who though has a privileged background, carved a niche for herself, climbing through ladders and cadres to get to where she presently is, and more importantly, can boast of the desired leverage and ability to defend her position.

Born Belinda Ajoke Adenuga, on May 29, 1986 to the duo of Emelia Adefolake Marquis, a Nigerian entrepreneur, and the global phenomenon, Dr. Mike Adenuga Jr., Bella received her early education in Lagos, at the prestigious Corona School in Victoria Island before enrolling at Queen’s College for her secondary education. In 1998, she transferred to Vivian Fowler Memorial College for Girls, where she concluded her secondary education.

She proceeded to the University of Massachusetts, Boston, USA, where she obtained a Bachelor of Arts degree in International Relations, and later, a Master of Science degree in Leadership from the Northeastern University, also in Boston.

In 2004, Disu joined her father’s Globacom, and consistently rose through the ranks to become the Executive Vice Chairman of the company. She is also a non-executive director with the construction giant, Julius Berger Nigeria Plc.

In April 2010, Bella took a break to solemnize her romantic relationship with her heartthrob, Jameel Disu, a venture capitalist, and both formalized their union in a fairytale wedding that is still the talk of the town, almost 15 years after.

As phenomenal and weighty as her family name, Bella dropped, and picked up completely her husband’s name, signifying undying love and loyalty. That’s still the name she bears till date. Both are blessed three wonderful children.

In 2019, the French Government awarded Disu the Chevalier dans ‘l’Ordre des Arts et des Lettres in recognition of her efforts in promoting French culture.

In January, 2021, Abumet Nigeria Limited announced her appointment as Chairman of its Board of Directors. Abumet Nigeria Limited maintains worldwide partnerships with reputable manufactures and maintains a state-of-the-art production facility, located in FCT Abuja, fully equipped with cutting-edge machinery and technology.

Abumet is a subsidiary of Julius Berger Nigeria Plc, and a leading solutions provider for the planning, processing and installation of aluminium and glass products, from single standard windows to sophisticated facades and large-scale design masterpieces. She replaced Alhaji Bamanga Tukur, upon his resignation from the board. Bella is a Member of the Chartered Institute of Management of Nigeria (MNIM) and the Institute of Directors of Nigeria (MIOD).

In addition to her French National Honour if Chevalier dans l’ordre des Arts et des Lettres (“CAL”), and currently the Executive Vice- Chairman of Globacom Limited, she is also the Chief Executive Officer of Cobblestone Properties & Estates Limited, and a Director on the Board of Mike Adenuga Centre.

In less than four years of her leadership, Abumet’s profits, according to Billionaire Africa, surged 307% in 2024, marking a major turnaround from losses in 2021.

The paper reported of her exploits as follows: “As a Non-Executive Director, she helped boost Julius Berger’s revenue to N566.2 billion, pushing it into Nigeria’s top 50 listed firms.

“At Abumet, Disu is driving innovation in façade technology, deploying unitized curtain walls for improved insulation and energy efficiency in Nigeria’s construction sector.

“Nigerian business executive Bella Disu has led Abumet Nigeria Limited, an innovative glass and aluminum manufacturing company, to record-breaking earnings, with profits quadrupling at the end of the 2024 fiscal year. Her leadership has not only steered the company back to profitability but has also reinforced the business acumen that runs deep in the Adenuga family.

“In a LinkedIn post, Disu, who has served as chairman of Abumet since 2021, shared the company’s turnaround: “Abumet is reaching new heights, and I’m excited to share our latest achievements. I am especially proud of the remarkable turnaround we’ve achieved—transforming from a loss in 2021 to delivering a 307 percent increase in profit in 2024.

“At just 38, Disu has earned her place among Africa’s top executives under 40, proving her ability to drive business success while steadily stepping into the legacy of her father, billionaire Mike Adenuga, who ranks among the continent’s wealthiest individuals with a fortune of $6.8 billion. She took over as chairman of Abumet’s Board of Directors in January 2021, succeeding Bamanga Tukur at a time when the company was struggling with steep losses.

“Since then, Disu has orchestrated one of the most impressive corporate recoveries in Nigeria’s manufacturing sector. Under her leadership, Abumet returned to profitability by the end of the 2022 fiscal year, bouncing back from the impact of COVID-19 and the financial challenges of 2021. The company sustained its profit in 2023 before posting a fourfold increase in 2024.

“Reflecting on this achievement, Disu credited the success to strong leadership and teamwork: “This success is the result of strategic leadership at the Board level, the dedication of our management team, and the collective effort of every Abumet employee.”

“Bella Disu expands Abumet’s market reach
As a 90-percent subsidiary of Julius Berger Nigeria Plc, Abumet plays a key role in the construction giant’s success. Bella Disu, who also serves as a Non-Executive Director at Julius Berger, has played a ‘much more’ active role in driving growth in the building solutions sector. By the end of the 2024 fiscal year, Julius Berger’s revenue rose from N446.1 billion ($296.4 million) in 2023 to N566.2 billion ($376.2 million) in 2024.

“Profit after tax also increased from N12.74 billion ($8.5 million) to N14.97 billion ($10 million), boosting the company’s market capitalization on the Nigerian Exchange (NGX) to N202.1 billion ($134.3 million). This has placed Julius Berger among Nigeria’s top 50 publicly listed firms, ranking 35th on the NGX.

“Under Disu’s leadership, Abumet has strengthened its market position by expanding its sales and marketing efforts. The launch of its Lagos sales office has helped grow its market share for made-in-Nigeria window and door solutions, while its EVONIGGLASS insulated glass brand has gained wider recognition. Despite market challenges, the company has posted record-high revenue and profits, exceeding expectations.

Abumet deploys energy-efficient curtain walls

Looking ahead, Disu is focused on pushing innovation in advanced façade solutions, leading Abumet’s efforts in glass and aluminum manufacturing.

“Abumet is deploying unitized curtain walls that will completely envelop the façade, ensuring not just aesthetic excellence but also enhanced energy efficiency through modern insulation technologies,” she said.

With a strong record of turning businesses around and driving growth, Disu is cementing her leadership in Nigeria’s business world. Her influence now extends beyond construction, telecommunications, and real estate into the country’s broader manufacturing sector, where she continues to make a lasting impact.”

Bella’s trajectory in the world of enterprise is a clear case of the demystification of the proverbial a tree cannot make a forest’, as she has conscientiously turned tables around wherever she found herself, bring in new ideas, new innovations and structural discipline that completely overhauls a system for all the positive outcomes.

Hers, is a case of continuous rise in the business world, and the home front. She is a better definition of a virtuous woman, and at less than 40 in age, the sky holds no barrier to how much more Belinda Ajoke Olubunmi Disu nee Adenuga could achieve in the coming months.

Congratulations ma!

Headline

Nigeria’s Who’s Who Joins Otedola to Turn Sod for FirstBank’s 43-Storey New Headquarters

Published

1 week ago

March 6, 2025

Eric

By Eric Elezuo

Conducted in an atmosphere of class, beauty and wholesome networking, the event drew the likes of the Vice President of Nigeria, Senator Kashim Shettima, who represented President Bola Tinubu, as the special guest of honour.

Other dignitaries that graced the occasion were the governors of Lagos State, Mr. Babajide Sanwo-Olu; Ogun State, Prince Dapo Abiodun; Ondo State, Mr. Lucky Aiyedatiwa; and former governor of Delta State, Mr. James Ibori.

Also joining the retinue of the first class citizens were the Ghagoury brothers; Gilbert and Roland, Senator Daisy Danjuma, Mr. Deji Adeleke, Mustapha Ndimi, Alhaji Aliko Dangote, Mr. Tunde Folawiyo, Dr. Bukola Saraki, Mr. Ben Murray-Bruce, Chief Dele Momodu and a host of white cap chiefs, who represented the Oba of Lagos, Rilwan Akiotu.

Known for its penchant for creating firsts, the Nigeria’s premier and leading money deposit bank, as well as financial institution of choice, the bank is set to deliver a state-of-the-art edifice, described as the first of its kind in Nigeria, the West African subregion, and by hindsight, in the entire African continent.

It is also reported that on completion, the edifice will house a variety of facilities that will buttress, and toe the line of the Eko Atlantic City original manuscript, and lend candour to the skyline and nightlife of the exclusive city.

Earlier, the Managing Director and Chief Executive Officer of FirstBank Nigeria, Mr. Segun Alebiosu, had remarked in a statement that the building is a significant milestone and an ambitious project set to be an engineering and environmental delight due to its technologically advanced, eco-friendly and sophisticated construction that would set a new standard for the financial services sector in Africa.

“The groundbreaking ceremony signifies the beginning of a transformative journey that reinforces FirstBank’s commitment to excellence, innovation, and customer satisfaction.

“We are proud to mark this significant milestone in our journey towards excellence. Our new Head Office is envisioned as a world-class structure that represents our dedication to innovation, customer satisfaction, and sustainability.

“We believe that this development will play a crucial role in fostering economic growth and development across Africa, creating long-term value for all our stakeholders,” Alebiosu said.

The statement by the bank further revealed that the new headquarters is designed with sustainability in mind, featuring a green-certified building that reduces operational costs, and positions the bank as a leader in sustainable banking practices.

In his welcome address however, Alebiosu said that “The groundbreaking ceremony is a momentous occasion for us to redefine our commitment to position solidly as the bank for the future. Therefore, this new headquarters is not just about a modern architectural masterpiece; it is reimagining banking for generations yet unborn. It will serve as a hub for financial innovation, digital transformation, and operational excellence, ensuring that FirstBank remains ahead in an era where technology is reshaping activities.

“Situated in the heart of Eko Atlantic City, the iconic FirstBank headquarters complex, a 43-story edifice, will become the tallest building in Nigeria upon its completion.”

In his speech, the chief host, who is also the Chairman FirstHoldCo, Mr. Femi Otedola, praised the resilience of his FirstBank team, the Chagoury brothers for ‘creating land’ for Nigerians, stakeholders and the banking community, who have supported the FirstBank brand in 131 years of existence.

He noted that the gathering highlights the importance of collaboration and support from various sectors in bringing ambitious plans for the new headquarters to life.

“I appreciate the CBN for its efforts in sustaining the stability of the Nigerian financial services industry. I commend the Chagoury Group for their commitment to the infrastructural growth of the Nigerian economy. Worthy of note is that Chagoury has always been an inspiration and business model to me. I have personally felt that the creation of Eko Atlantic City is the ninth wonder of the world, coming after the eighth wonder, which is the Dangote Petrochemical City. These two wonders continue to reaffirm that Nigeria is indeed a great nation.

“To our customers and stakeholders of the bank, we must constantly be reminded that FirstBank is and will continue to be a legacy to behold. We shall continue to invest in cutting-edge technology, vibrant human capital, strategic partnerships, and customer-centric innovation that will define banking globally even as we detail our footprint across Nigeria, Africa, and the world. Thank you all for being a part of our rich heritage as we unveil this iconic building that will serve as the engine room of the bank’s next phase of dominance in the financial services sector and efforts to contribute our quota to the financial inclusion,” Otedola said.

The gathering was boosted by goodwill messages from stakeholders present including governors Sanwo-Olu, Abiodun and Aiyedatiwa. Other goodwill messages were delivered by Senator Danjuma, Mr Folawiyo, Alhaji Dangote, Mr. Adeleke and others.

In his charge, Sanwo-Olu ssaid, “First Bank, as usual, has led the way. I want to thank the visionaries who created a new city that will be Africa’s model city that all of us will be proud of. Mr. Femi Otedola, well done, well done to your board, well done to your management, and CBN Governor, thank you for the approval. We want you to give other financial institutions approval as well. There is space for them as well.”

One of the hallmarks of the event was the presentation of certificate to the FirstBank group by the Governor Sanwo-Olu, on behalf of the Lagos State government, to authorize commencement of construction.

In his keynote address however, the special guest of honour, President Bola Tinubu, who was represented by Vice President Kashim Shettima, lauded the building as representing and symbolising Nigeria’s ambition and progress.

“Today we lay the foundation for a monumental structure in Nigeria’s financial landscape, the First Bank iconic tower, a symbol of our nation’s progress and ambition. This tower will stand as a testament to our economic strength and vitality. The tower, which will be the tallest building in West Africa at 40 stories upon completion, is a symbol of confidence in our country’s future. For 130 years, FirstBank has been a pillar of our economy, empowering businesses, supporting families, and driving financial innovation. FirstBank has extended its reach from Lagos to London and all around major financial centres worldwide, proudly flying Nigeria’s flag on the global stage.

tower will symbolise ambition and excellence in Eko Atlantic, an investment that consolidates Lagos as a leading financial hub and showcases the dynamism of Nigeria’s private sector.

“As president, I reaffirm our unwavering commitment to fostering an environment where significant investment and transformative projects like this can thrive through bold economic reforms, strategic public-private partnerships, and infrastructure development. We are ensuring that Nigeria once again becomes the top destination for investment,” Shettima said on behalf of President Tinubu.

The event of the day was concluded with the turning of the sod to signify commencement of building activities for the 43-storey ambitious project, which will change the landscape of the Eko Atlantic City, banking industry and architectural intelligence.

Headline

Olusegun Obasanjo: Celebrating Africa’s Influential Leader at 88

Published

2 weeks ago

March 4, 2025

Eric

By Eric Elezuo

Chief Olusegun Obasanjo, arguably, is the most influential African alive. He would have been the second most influential if the Madiba Nelson Mandele still lives.

Obasanjo has transcended generations of greatness ever since he joined the army as a career soldier, fighting in the Nigeria/Biafra Civil War before testing political power as the Chief of Staff Supreme Headquarters to the then Head of State, General Murtala Mohammed, and then becoming the Head of State in 1976 following the assassination of General Mohammed. He was in charge between 1976 and 1979 when he handed over to Alhaji Shehu Shagari.

Obasanjo has been described as one of the great figures of the second generation of post-colonial African leaders, and has received praise both for overseeing Nigeria’s transition to representative democracy in the 1970s and for his Pan-African efforts to encourage cooperation across the continent. He however, remains the most senior in Nigeria’s political leadership, behind General Yakubu Gowon.

A two-terms civilian president and former military head of state, Olusegun Obasanjo, has celebrated his 88th birthday, looking fit as a fiddle, and throwing banters among protégé, associates and leaders of thought, whobare his mentees.

As usual, Obasanjo’s birthday celebration was multi-faceted, and like every other year, accommodated praises and worship, get-together and sumptuous dinner among others, thereby igniting the Obasanjo Farm home of the former leader, located in Abeokuta, Ogun State, and the awesome The Delborough in Victoria Island, Lagos.

The birthday celebrations kickstarted with a special Global Breakfast Prayer session, which was in its 61st edition, on Saturday, March 1, 2025. It was a time of spiritual renewal and upliftment with representatives from about 29 countries in attendance both on ground and virtually.

The prayer session was facilitated by the Chairman of Christian Association of Nigeria, South West Zone, Bishop T. Akin-Akinsanya, and moderated by Rev. (Engr.) A. Ojeshina, with prayer and worship sessionsed by the Gatekeepers Worship Team.

Much as it was a spiritual exercise, the aura of greatness Obasanjo is known for was visible as ministers of God from different nations participated in the prayers, reflecting Chief Obasanjo’s far-reaching influence and the deep respect he commands across the globe, and well as the awesome glory to God for sparing his life for 88 eventful years.

Everyone, who was given an opportunity to share his thoughts about the African leader spoke glowingly, acknowledging Obasanjo’s role in fostering diplomacy, African development, and visionary leadership. Notable among these ministers that attended were Ven. O. Ogunremi from Kenya, Pastor M. Nwanegbo from Belgium, Bishop Francis Wale Oke, Bishop E. Adekunle, Rev. Mother Esther Ajayi, Apostle M. Oluwajoba from the United States of America, Dr. Juliet Hammond from the United Kingdom, and Bishop David Bakare.

The following day, the party shifted to Chief Stanley Ugochukwu’s The Delborough on Victoria Island where the creme de la creme of the society gathered to fete the octogenarian. They young entrepreneur was also present at the event.

Dignitaries at the dinner included former President Goodluck Jonathan, former Vice President Atiku Abubakar, former Senate President, Bukola Saraki, former President of Sierra Leone, Ernest Koroma, Anambra State Governor, Chukwuma Soludo and Ooni of Ife, Oba Enitan Adeyeye Ogunwusi.

The event also drew an impressive lineup of business heavyweights, including Chairman of Ovation Media Group, Chief Dele Momodu; the CEO of Air Peace, Dr. Allen Onyema; E-Money and his brother, Kcee, and Obi Cubana, Cubana Chief Priest and renowned entrepreneur, Chief Rasaq Okoya.

The occasion underscored Obasanjo’s lasting influence in Africa, especially Nigeria’s political and economic landscape. Dignitaries, who took turns to extol the respected leader, harped on his leadership, contributions to national development, and his roles as a statesman.

Beyond speaches on the night, the event created an atmosphere of conviviality, camaraderie, networking and catching up, as distinguished guests shared fond memories, banters and experiences of working with the elder statesman. The birthday proper is scheduled for March 5.

It would be recalled that in 2024 in commemoration of the 87th birthday, Obasanjo unveiled a new book, titled: “The Art of Leading: Unconventional Wisdom from Biblical Leaders.”

In his tribute to the former president, Atiku took to his X account to share moments from the occasion, and expressed appreciation for Obasanjo, who is his former boss, and described the gathering as a momentous celebration.

“I joined others at the dinner hosted by my former boss, former President Olusegun Obasanjo, at The Delborough Hotel, Victoria Island, in Lagos,” he wrote.

Born on March 5, 1937, in Abeokuta, Obasanjo, who is arguably Nigeria and Africa’s biggest political brand, served as President of Nigeria from 1999 to 2007, during which time he played an instrumental role in bringing democracy back to the Nigeria.

His political and economic sagacity within the period has remained a reference point for subsequent administrations both in Nigeria and the African continent.

He was Chairperson of the African Union from July 2004 to January 2006, and was inducted by the UN as Special Envoy for Africa in 2008. Since then, he has overseen elections in countries across the African continent on behalf of the African Union and ECOWAS.

A man, who draws accolades, and sometimes criticisms as result of his fearless position on issues of both continental, regional and national importance, Obasanjo has received praise both for overseeing Nigeria’s transition to representative democracy in the 1970s and for his Pan-African efforts to encourage cooperation across the continent.

The Wikipedia captures Obasanjo’s personal life as follows:

Ethnically, Obasanjo is Yoruba, a cultural identification he reflected in his speech and choice of clothing. However, he always foregrounded his Nigerian identity above his Yoruba one, repeatedly stating that “I am a Nigerian who happens to be a Yoruba man. I am not a Yoruba man who happens to be a Nigerian.”

Throughout his life he expressed a preference for rural over urban life. He has been a lifelong teetotaller. He has been characterised as having a sense of discipline and duty, and emphasised what he saw as the importance of leadership. He was meticulous at planning, and Iliffe called him an “instinctively cautious man”. Obasanjo always emphasised the importance of deferring to seniority, a value he had learned in childhood. Iliffe described Obasanjo as a man with “great physical and intellectual energy” who “exercised power with skill and ruthlessness, sometimes unscrupulously but seldom cruelly”. Derfler similarly stated that, although Obasanjo could appear “boorish and dull”, he had a “sharply perceptive mind” and the capacity to be “tough and ruthless”. He had, according to Iliffe, a “remarkable capacity for work”. He was cautious with money, living modestly and seeking financial security by investing in property. He is softly-spoken.

In his sixties, Obasanjo would regularly work 18 to 20 hour days, getting very little sleep. He would start each day with prayers. Obasanjo suffers from diabetes and high blood-pressure. He enjoyed playing squash.

Obasanjo’s writings after his imprisonment reflected his commitment to Biblical literalism. He called the Darwinian theory of evolution a “debasing, devaluing and dehumanising” idea. After his release from prison his writings placed far less emphasis on traditional culture as a guide to morality, calling on fellow Nigerians to reject much of their pre-Christian “way of life”. Iliffe noted that Obasanjo’s born-again Christianity was “strikingly orthodox” and was aligned with Orthodox Pentecostal teaching. He rejected the prosperity gospel that was taught by some Pentecostalists in Nigeria.

Providentialism also became a key part of his worldview after his imprisonment.

In addition to a variety of other chieftaincy titles, Chief Obasanjo is the holder of the title of the Olori Omo Ilu of Ibogun-Olaogun.

A prolific writer and author of many books, Obasanjo is not a stranger to awards and honours as he has them in endless list.

A father to many children, including Iyabo Obasanjo, one of his children, Adeboye Obasanjo, took after him, and is presently a Brigadier General in the Nigerian Army.