News
Cash withdrawal limit: Impeach Speaker Gbajabiamila for opposing policy – Group to lawmakers
For allegedly opposing and working against cash withdrawal policy of the Central Bank, a group operating under the aegis of Ethnic Youth Leaders Council of Nigeria (EYLCN) has called for the impeachment of the Speaker of the House of Representatives, Femi GbajGbajabiamila.
The Speaker came under heavy criticism on Friday as the group at a press conference in Abuja said, the adoption of the House of Representatives resolution at a plenary which was presided by Rt. Hon. Femi Gbajabiamila opposing the policy was in bad faith.
Secretary of the group, Comrade Peter Abang said they have “uncovered a well-oiled plot to discredit the cash withdrawal limit by politicians with stolen funds in their possession”.
They accused politicians of plot to attack and undermine President Muhammadu Buhari and the government’s policy on cash withdrawal limit.
“Information in our custody is that these enemies of state have pooled over $5 million with which they hope to launch an onslaught against the policy beginning from next week.
“It is with a heavy heart that we announce that these men already have an ally in Speaker Femi Gbajabiamila of the House of Representatives and his caucus in the House have disappointedly joined hands to ensure that for primordial political and pecuniary interests, a policy which will really benefit our country is killed, in utter disregard to the oath of office they swore to make laws for the good governance of our country.
“It was in furtherance of this plot and in alliance with anti-people politicians that Speaker Gbajabiamila steered the House on Thursday to resolve to oppose the cash withdrawal policy even without an engagement with the Central Bank or without hearing from the bank or even asking the bank for answers to their fears.
“Nigerians will also recall there were surreptitious moves by the same Speaker of the House in sponsoring an amendment to the Currency Decimal Act and the Central Bank Act all in a bid to stop the Naira redesign policy.
“It all seems Speaker” Femi Gbajabiamila has something against Nigerians and we call him out today to explain what his grievances are.
They described the action of the House of Representatives as illegal, abuse of office and the height of legislative rascality.
They wondered how the speaker could use public office specifically to work against the people who elected him into such office?
“This calls for a thorough investigation into the mandate on which these men are standing because if they are not afraid of the people who are expected to vote them back into office, then they know they do not rely on the votes of the people to get into office.
“It was on this basis that our affiliate member, the Oduduwa Youth Movement has disowned the Speaker and questioned his true heritage on the basis that it was not Yorubalike for a man to cut his nose just to spite his face.
“We therefore challenge all men of goodwill to engage the phones and constituency office of the Speaker and his known allies to back off from this agenda.
“We also call on all patriotic House members to withdraw any form of allegiance they have to the Speaker and stand against him on this ride to Ga-Ga land he has commenced.
“We therefore call on patriotic members of the House and all loyalists of President Muhammadu Buhari who are in the majority in the House to commence immediate impeachment proceedings against the Speaker for abusing his office and endangering the lives of Nigerians and our national security.
“If we may ask, does Gbajabiamila not know that the volume of cash in circulation is too much and has occasioned inflation?
“Does Speaker Gbajabiamila not know that kidnappers and bandits demand huge sums because people can easily access this sums?
“Does Speaker Gbajabiamila not know that vote buyers and election riggers will be put out of business for next years election if this policy is implemented?
“Does Speaker Gbajabiamila not know that when the oil subsidy is withdrawn next year government will have more funds and if this policy were not on ground corrupt people will loot the money?
“Does Speaker Gbajabiamila not know that money going majorly through electronic means will help our anti-corruption agencies to follow the money?
*The questions are legion! Yet Speaker Gbajabiamila is blindly leading our country down the abyss.
“It has become obvious that Speaker Femi Gbajabiamila is unfit to continue in office as the Speaker of the house of Representatives for abuse of office and risking the future of our great country on the altar of pecuniary and pseudo political benefits.
They commended the Governor of the Central Bank of Nigeria on the economic breakthrough policy and urge him to stand firm against the enemies who cannot come out before the Nigerian people to defend their actions.
“Therefore, we call on Speaker Gbajabiamila to retrace his steps now before he pushes Nigeria over the cliff and reverse the resolution made yesterday by the House.
…Declares a total dividend of N2.10 per share
Lagos, Nigeria, March 29, 2025: Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion.
According to the Bank’s results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The increase in Interest Income was led by a combination of improved yield on earnings assets and 51.6% expansion in earnings base to N6.3tn. This led to a Profit After Tax of N278.1 billion, representing a 179.6% annual growth.
Commenting on the results, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc said, “We are delighted with our 2024 full-year (FY) performance, which showed strong growth across key revenue lines, improved asset quality, and significant traction in our strategic business segments. Our impressive results led to a triple-digit increase (210.0%) in Profit Before Tax (PBT), rising from N124.3bn in 2023 to N385.2bn in 2024.”
A further review of the financial performance revealed that the bank’s net interest income increased by 127.1% to N629.8 billion, driven by a high-yield environment in 2024. To optimize its margin, the bank sustained its asset yields above funding cost by maintaining a high low-cost deposit profile at 92.6%. This led to an increase in its Net Interest Margin from 8.1% in 2023 FY to 12.0%.
Similarly, the bank continued to deepen its market share in both the corporate and retail segments, with customer deposits increasing by 47.9% from N4.0trn in 2023FY to N5.9trn. The increase was driven by strong double-digit growth across all deposit types. The Retail Banking Business gained significant traction with savings deposits increasing by 28.8% to N1.1trn, marking the 10th consecutive year of double-digit annual growth in savings deposits.
Despite the difficult economic terrain in 2024, the bank has continued to support the real sector of the economy by increasing its Net Loans & Advances from N3.1tn in 2023FY to N4.4tn in 2024FY.
“This remarkable performance demonstrates our capacity to deliver superior returns to our shareholders. In line with our commitment to them, we have declared a final dividend of N1.25 per share, bringing our total dividend for the 2024 financial year to N2.10 per share”, explained Onyeali-Ikpe.
Having consistently paid dividends since 2006, Fidelity Bank will pay investors a total dividend of N2.10 per share for the 2024 financial year, subject to shareholders’ approval at its Annual General Meeting (AGM) on 29 April 2024. The dividend will be paid on 29 April 2025 to shareholders whose names appear on the register of members as of 15 April 2025.
It will be recalled that the bank successfully completed the first phase of its capital raising exercise through a Public Offer and Rights Issue in 2024, which were oversubscribed by 237.92% and 137.73%, respectively. The positive result is a testament to the strength of the Bank’s franchise in the capital market. A total of N175.9bn was recognized as fresh capital in 2024 financial year from the exercise, which had a positive impact on its Capital Adequacy Ratio (CAR) at 23.5%. The bank plans to conclude the second phase by Q3 2025, ahead of the Central Bank of Nigeria’s deadline, which will further strengthen its capital base and reaffirm its attainment of Tier 1 Bank status in the Nigerian Banking Industry.
Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
By Sunday James
The gruesome killing of 16 innocent northern hunters in Uromi, Edo State, over false accusations of kidnapping is yet another damning indictment of the failure of law and order in Nigeria.
Time and again, innocent lives have been lost to the mindless brutality of mob justice, a savage and inexcusable act that has become far too common across the country.
This is not an isolated incident. Nigeria has witnessed several tragic cases of jungle justice where angry mobs, fueled by misinformation and misplaced aggression, have taken the law into their own hands.
The Aluu Four incident in 2012, where four young university students in Rivers State were falsely accused of robbery, beaten, and burned to death in a horrific public spectacle, remains one of the most chilling examples.
In 2022, Deborah Samuel, a young student in Sokoto State, was lynched by fellow students over alleged blasphemy, an incident that sparked outrage but yielded little justice. In Lagos, several suspected petty thieves were set ablaze by mobs in broad daylight without any fair trial.
Across the country, from Anambra to Kano, Port Harcourt to Abuja, numerous cases of public executions by mobs continue to surface, often with little to no legal consequences for perpetrators.
The rise of mob justice is fueled by a cocktail of systemic failures that have left Nigerians disillusioned with formal justice mechanisms.
The breakdown of law and order, where the Nigerian police fail to deliver swift and transparent justice, has led to public distrust, encouraging citizens to take matters into their own hands. Rising insecurity, including the surge in kidnappings, banditry, and violent crimes, has left many communities in perpetual fear, triggering knee-jerk reactions to perceived threats. Ethnic and religious tensions have also played a major role, with deep-seated biases making certain groups more vulnerable to targeted attacks.
The proliferation of unregulated local vigilante groups and security outfits has further emboldened extrajudicial actions against innocent civilians. Additionally, the slow pace of criminal trials and the failure to punish perpetrators of jungle justice have normalized impunity.The Edo killings, like many before them, must not be swept under the rug.
The government must ensure immediate arrest, prosecution, and conviction of all those involved in this heinous act. Strengthening law enforcement agencies to curb vigilante excesses and restore public trust is paramount.
There must be massive public enlightenment campaigns to educate citizens on legal redress rather than mob action. Strict penalties must be enforced against communities and groups involved in jungle justice to deter future occurrences.The Nigerian government must wake up to its responsibility of protecting lives and ensuring justice for all.
If mob justice continues unchecked, no one is truly safe. This latest atrocity in Edo should be the final warning: justice delayed is justice denied. The killers must be held accountable, and a nationwide crackdown on jungle justice must begin immediately. Enough is enough. The rule of law must prevail.
The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje, has congratulated the Muslim Ummah across the country on the occasion of Eid-el-Fitr.
The celebration marks the successful completion of the holy month of Ramadan.
In a message signed by his Chief Press Secretary, Edwin Olofu, Ganduje rejoiced with Muslims for the spiritual renewal and discipline attained during the sacred month of fasting, prayer and devotion to Almighty Allah.
He urged the faithful to uphold the virtues of piety, selflessness, and compassion that Ramadan represents while also extending love and kindness to one another, especially to the less privileged in society.
The APC National Chairman further called on Muslims and all citizens to remain steadfast in promoting unity, peace, and national progress in the country.
He emphasized that the lessons of Ramadan—patience, sacrifice, and perseverance—are essential in fostering harmony and strengthening the nation’s democratic institutions.
The two-term Kano State Governor also urged the Muslim Ummah and Nigerians to pray for President Bola Ahmed Tinubu to succeed in his efforts to lift the country from economic doldrums and resolve lingering security challenges.
He assured Nigerians of the APC-led government’s commitment to improving the welfare and well-being of all citizens, noting that Nigerians will not regret voting for President Tinubu after his first tenure.
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