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

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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.

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Peter Obi Confirms Defection from ADC, Blames Toxicity, Lack of Solidarity

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Candidate of Labour Party in the last Presidential election, Mr. Peter Obi, has confirmed that he is on his way out of the African Democratic Congress (ADC).

In a personally signed statement released on Sunday, Obi said he arrived at the decision after deep reflection, describing the move as necessary despite “every constraint.”

“I woke up this morning after my church service with a deeply reflective heart… and felt compelled to share these thoughts,” he wrote, adding that many people do not understand the “silent pains” and private struggles faced by those trying to serve in Nigeria’s political space.

Obi painted a grim picture of the current political climate, describing it as increasingly hostile and discouraging.

“We now live in an environment that has become increasingly toxic, where the very system that should protect and create opportunities… often works against the people,” he said, pointing to intimidation, insecurity, and persistent scrutiny as defining features of the system.

The former Anambra State governor also expressed disappointment over what he described as a lack of solidarity, even among close associates.

“Some who publicly identify with you privately distance themselves or join in unfair criticism,” he noted, lamenting that humility is often misinterpreted as weakness, while compassion is seen as foolishness.

Obi, however, clarified that his decision was not driven by personal grievances against key leaders within the party. He specifically exonerated ADC National Chairman, David Mark, and former Vice President, Atiku Abubakar, saying neither treated him unfairly.

“Let me state clearly: my decision to leave the ADC is not because our highly respected Chairman… treated me badly, nor because… Atiku Abubakar, or any other respected leaders did anything personally wrong to me,” he said.

Instead, Obi attributed his exit to what he described as a recurrence of the same challenges that plagued his time in the Labour Party, including internal divisions, legal battles, and external interference.

“The same Nigerian state and its agents that created unnecessary crises… now appear to be finding their way into the ADC, with endless court cases, internal battles, suspicion, and division,” he stated.

He further lamented that sincere contributions are often undervalued, with individuals becoming scapegoats for broader systemic failures.

“Even within spaces where one labours sincerely, one is sometimes treated like an outsider… as though honest contribution has become a favour being tolerated rather than appreciated,” Obi added.

Despite stepping away, the former governor said he continues to face criticism and attacks on his character, even as he seeks to pursue national development with sincerity.

Reflecting on Nigeria’s broader challenges, Obi questioned societal values that, according to him, often misinterpret integrity and prudent management of resources.

“Why is doing the right thing often misconstrued as wrongdoing in our country? Why is integrity not valued?” he asked.

Obi reiterated that his ambition is not driven by a quest for political office but by a desire to see a better Nigeria.

“I am not desperate to be President… I am desperate to see a society that can console a mother whose child has been kidnapped or killed,” he said, highlighting issues of insecurity, poverty, and displacement.

He concluded on a hopeful note, affirming his belief in Nigeria’s potential for transformation.

“Yet, despite everything, I remain resolute. I firmly believe that Nigeria can still become a country with competent leadership based on justice, compassion, and equal opportunity for all,” he said.

“A new Nigeria is possible.”

Source: Daily Trust

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Peter Obi Weeps for Nigerian Workers, Says Minimum Wage Can no Longer Guarantee Modest Living

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A frontline presidential aspirant on the platform of the opposition African Democratic Congress (ADC), Peter Obi, has regretted that the minimum wage can no longer guarantee a most modest standard of living in Nigeria.

In a post on his X handle on Friday to mark Workers’ Day, the former Governor of Anambra State said this has happened as inflation, rising food prices, transportation costs, and economic hardship continue to erode the value of honest work.

He said no nation can truly develop beyond the strength, productivity, and wellbeing of its workforce, stressing that the progress of any society rests on the quality of its human capital, the skill of its people, and the commitment of its workers.

‘When workers suffer, the nation suffers. When workers are empowered, the nation prospers,” he noted.

The presidential candidate of the Labour Party (LP) in the 2023 general elections said a productive nation must be built on justice, fairness, and respect for labour, adding that “it is the Nigeria we must work together to achieve.”

Obi said through democratic participation, the Nigerian workers have the power to shape governance and determine the future direction of the nation.

He, therefore, urged Nigerian workers to recognise the strength they hold collectively.

“But beyond their labour, workers also possess another powerful tool, their voice and their vote.

“They owe it to themselves, their children, and future generations to support and demand leadership built on competence, character, capacity, credibility, and compassion. By refusing to reward failure, corruption, ethnic division, and bad governance, they can help build a nation where hard work is respected and rewarded with dignity.

“With the support and participation of Nigerian workers, a new Nigeria is possible,” said Obi.

He saluted workers across the world, especially Nigerian workers whose daily sacrifices continue to sustain our families, communities, institutions, and national economy in the face of severe hardship and uncertainty.

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Attorney-General Asks Court to Deregister ADC, Accord, Three Other Parties

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The Attorney-General of the Federation has urged the Federal High Court in Abuja to compel the Independent National Electoral Commission (INEC) to deregister five political parties, arguing that their continued existence violates constitutional provisions and undermines Nigeria’s electoral integrity.

In court filings, the Attorney General contended that unless the court intervenes, INEC would “continue to act in breach of its constitutional duty” by retaining parties that have failed to meet the minimum requirements prescribed by law.

The filing stressed that the right to associate as a political party is not absolute and must be exercised within constitutional limits. It further argued that it is in the interest of justice for the court to grant the reliefs sought by the plaintiffs.

The suit, marked FHC/ABJ/CS/2637/2026 and filed at the Abuja Judicial Division of the Federal High Court, lists the Incorporated Trustees of the National Forum of Former Legislators as the plaintiff.

The defendants include INEC as the first defendant and the Attorney General of the Federation as the second defendant, alongside five political parties: African Democratic Congress (ADC), Action Alliance (AA), Action Peoples Party (APP), Accord (A), and Zenith Labour Party (ZLP).

At the center of the issue in the case is whether INEC has a constitutional obligation to remove parties that fail to meet electoral performance thresholds set out in Section 225A of the 1999 Constitution (as amended) and reinforced by the Electoral Act 2022 and INEC’s own regulations.

The plaintiffs argue that the affected parties have persistently failed to satisfy the constitutional benchmarks required to retain their registration. These include winning at least 25 per cent of votes in a state during a presidential election or securing at least one elective seat at the national, state or local government level.

They contend that the parties performed poorly in the 2023 general elections and subsequent by-elections, failing to win seats across key tiers of government, yet continue to be recognised by INEC as eligible political platforms.

The plaintiffs maintain that this continued recognition is unlawful and undermines the integrity of Nigeria’s electoral system.

In the affidavit supporting the suit, the forum’s national coordinator, Igbokwe Raphael Nnanna, states that allowing parties that have not met constitutional requirements to remain on the register “is unconstitutional, illegal and a violation” of the governing legal framework.

The suit asks the court to declare that INEC is duty-bound to deregister such parties and to compel the commission to do so before preparations for the 2027 elections advance further.

Beyond declaratory reliefs, the plaintiffs are also seeking far-reaching orders that would bar the affected parties from participating in the next general elections or engaging in political activities such as campaigns, rallies and primaries. They further request injunctions restraining INEC from recognising or dealing with the parties in any official capacity unless and until they comply strictly with constitutional provisions.

Central to the plaintiffs’ argument is their interpretation of the law as imposing a mandatory duty on INEC. They argue that the use of the word “shall” in the Constitution leaves no room for discretion once a party fails to meet the stipulated thresholds.

In their written address, they rely on statutory provisions and judicial precedents to contend that electoral performance is an objective condition that must be enforced to maintain discipline, transparency, and accountability in the political system.

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