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Global Footprint: Zenith Bank Expands Frontier With Official Opening Of Paris Branch….

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2 months ago

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Zenith Bank Plc has expanded its global footprints with the opening of Zenith Bank (UK), Paris branch. The official commissioning, which took place on Wednesday, 27 November, 2024 at 21 Rue de la paix, Paris, France, was performed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

The opening of Zenith Bank, Paris, a Third-Country Branch (TCB) of Zenith Bank (UK) Limited, a subsidiary of Zenith Bank Plc, represents a key milestone in the bank’s global growth strategy and underscores its commitment to serving clients in the European region.

Dignitaries at the ceremony include the Governor of Kwara State who is also Chairman, Nigeria Governors’ Forum (NGF), AbdulRahman AbdulRazaq. Other governors present were Babajide Sanwo-olu of Lagos State, Adedapo Abiodun (Ogun) and Peter Mbah (Enugu).

Other dignitaries in attendance included the Chairman, BUA Group, Abdul Samad Rabiu; Minister of State for Finance, Doris Uzoka-Anite; Chief Executive Officer/Executive Secretary, Nigerian Investment Promotion Commission (NIPC), Aisha Rimi and Executive Director/Chief Executive Officer, Nigerian Export Promotion Council (NEPC) Nonye Ayeni. They all joined Zenith Bank executives in celebrating the significant milestone. The event highlighted the bank’s commitment to delivering exceptional financial solutions and fostering economic growth across the globe.

In her welcome address, the Group Managing Director/Chief Executive of Zenith Bank, Adaora Umeoji, thanked the Founder & Chairman of the bank, Jim ovia, for his inspiration and vision in setting up an award-winning and record-breaking brand. She also highlighted the rationale for the bank’s strategic move to Paris.

According to her, “The opening of this Paris branch is part of the broad strategy of the Bank to extend its footprints across the major global financial centres and our efforts at following our customers’ businesses.

“Paris branch opening underpins the need to serve our customers and bolster trade and finance relationship between our customers in France and other countries. Zenith Bank’s expansion into France is a very strategic move as Nigeria accounts for 20% of France’s trade with Sub-saharan Africa according to the Franco-Nigeria Chamber of Commerce and Industry (FNCCI).

“Having successfully dominated large parts of Anglophone Africa, we will leverage Zenith Bank Paris operations to lead the Francophone market starting from Ivory Coast and Cameroun where we will be establishing subsidiaries very soon. This will facilitate business and trade flows between the African region and France, which is a major business partner to several African countries.”

Speaking at the ceremony, the Minister of Finance and Coordinating Minister of the Economy, Mr Edun, said, “I feel that one of the dividends of building trust for Nigerian institutions around the world is this event today, the opening of Zenith Bank in Paris. The presence of Zenith here can only but help to engender trust of the French business community. They can learn about the opportunities in Africa, and of course, the entry into Nigeria can be facilitatedWe are happy and we are glad that we are all here to participate in this historic occasion.”

President and Chief Executive of Dangote Group, Aliko Dangote, congratulated the bank for the milestone achievement. Expressing his optimism for this strategic initiative, he said, “I really want to congratulate Zenith Bank for achieving this feat by opening a branch here in Paris. I can guarantee you, without the likes of Zenith Bank and other Nigerian banks, we as a group, wouldn’t have been where we are today because there is no country that can grow without a very strong banking sector.”

Director General of the Treasury, France, Bertrand Dumont, commented, “This is a crucial asset when it comes to doing business between our two countries, or when it comes to doing business between our two continents. So, I would like to wish you the best in this endeavor, in this creation, and I hope that in the coming months or the coming year, you will invite me again for the integration of larger buildings as a sign of the success that you would have encountered.”

The Chairman, France-Nigeria Business Council (FNBC), Aigboje Aig-Imoukhuede, in his remark said, “15 years ago, Dr Jim Ovia, then as the CEO of Zenith Bank welcomed me as CEO Access Bank into the UK to join him and other banks that had blazed the trail in opening banking businesses in the UK. 15 years later, to the glory of God, your young brother in banking welcomes you to Paris with pride on the significance of this occasion. Such intentional leadership, such partnership and collaboration speaks to the nature of endeavor that we at the France-Nigeria Business Council are trying to drive. So, on behalf of the French people, I simply say to Zenith – Bonne Arrivee!”

The opening of Zenith Bank, Paris followed the granting of the final approval by France’s banking regulator, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), in September 2024, allowing the branch to commence operations. Earlier in November 2023, Zenith Bank strengthened ties with France by signing a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary in France.

The MoU was signed in Lagos by the Founder and Chairman of Zenith Bank Plc, Jim Ovia, and the French Minister for Trade, Attractiveness and French Nationals Abroad, Mr Olivier Becht during the French envoy’s visit to Nigeria.

Zenith Bank, Paris is positioned as a global financial hub for strengthening trade, accelerating trade flows and facilitating connectivity between Europe and Africa. The branch will provide a wide range of services currently being offered by the UK home-office including corporate banking, trade finance and treasury services to individuals and corporate clients in France and the wider European market. The branch will also leverage the bank’s strong global network and expertise to provide tailored solutions to its clients.

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Alleged Forgery: EFCC Set To Arraign Oba Otudeko, Ex-First Bank MD Bisi Onasanya For N12.3Bn Fraud

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4 days ago

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January 16, 2025

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Justice Chukwujekwu Aneke of the Federal High Court in Lagos has fixed Monday, January 20, 2025, for the Economic and Financial Crimes Commission, EFCC, to arraign the Chairman of Honeywell Group, Chief Oba Otudeko and a former First Bank Managing Director Stephen Olabisi Onasanya for allegedly looting N12.3billion naira from First Bank.
Otudeko – former Chairman of First Bank of Nigeria, FBN Holdings – and Onasanya are to be arraigned alongside a former board member of Honeywell Soji Akintayo and a firm, Anchorage Leisure Limited connected to Otudeko.
According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, N6.2bbillion and N2.09 Billion between 2013 and 2014 in Lagos.
The 13-count charge, filed by EFCC counsel Bilikisu Buhari on January 16, 2025, further claimed that the defendants made and uttered forged documents to deceive the bank.
Otudeko, Onasanya, Akintayo and Anchorage will be brought before Justice Aneke, to whom the case, registered as FHC/L/20C/2025, has been assigned.
Specifically, count 1 accused the defendants of conspiring “to obtain the sum of N12.3Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false.”
In Count 2, it was alleged that the defendants, on or about the 26th day of November 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V TECH DYNAMIC LINKS LIMITED which representation you know to be false.”
The 3rd count claimed that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”
In the 4th count, they were accused of conspiring to spend the N6,15 Billion, out of the monies.
According to the Commission, the offences contravened Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and are punishable under Section 1(3) of the same Act.
Counts 5 and 6 read: “That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about 11th day of December 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1,5 Billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about the 17th day of December 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500 Million Naira Only which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”
Other charges are as follows:
“Count 7. That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court conspired amongst yourselves to commit an offence to wit: uttering a forged document – titled “Letter of Application” with the intent that it may be used by the First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 3(6) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under Section 1(2)(c) of same Act.
“COUNT 8: That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court uttered a forged document titled “Letter of Application” with intent that it may be used by the First Bank in the belief that the said document is genuine and emanated from V-Tech Dynamic Links Limited, and you thereby committed an offence contrary to Section 1(2)(c) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under same Act.
“COUNT 9 That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court conspired amongst yourselves to commit an offence to wit: making false document titled “AUTHORIZATION TO ISSUE INVESTMENT CERTIFICATE TO FIRST BANK” with intent that it may be used by First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 3(6) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under Section 1(2)(c) of same Act.
“COUNT 10: That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September 2013, in Lagos and within the jurisdiction of this Honourable Court made a forged document titled “AUTHORIZATION TO ISSUE INVESTMENT CERTIFICATE TO FIRST BANK” with Intent that it may be used by the First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 1(2) (c) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under same Act.
“COUNT 11: That you, CHIEF OBA OTUDEKO AND STEPHEN OLABISI ONASANYA on or about the 31st day of October 2014 in Lagos, within the jurisdiction of this Honourable Court procured Abiodun Olatunji and Raymond Eze to transfer the sum of N6,200,000,000 (Six Billion, Two Hundred Million Naira Only), to STALLION NIGERIA LIMITED’s account number “2015708429” domiciled with First Bank, which sum you reasonably ought to have known formed part of the proceeds of unlawful activities to wit: Fraudulent False Accounting and you thereby committed an offence contrary to Sections 18 (c) and 15(2 (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
“COUNT 12: That you, CHIEF OBA OTUDEKO AND STEPHEN OLABISI ONASANYA on or about 11th day of December, 2013 in Lagos, within the jurisdiction of this Honourable Court procured Abiodun Olatunji and Raymond Eze to transfer the sum of N2, 090, 000,000 (Two Billion, Ninety Million Naira Only), from STALLION NIGERIA LIMITED’s account number “2015708429” domiciled with First bank, to Emmerado Logistics Limited’s account number “0688985010” domiciled with First City Monument Bank, which sum you reasonably ought to have known formed part of the proceeds of unlawful activities to wit: Fraudulent False Accounting and you thereby committed an offence contrary to Sections 18 (c) and 15(2 (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
“COUNT 13: That you, CHIEF OBA OTUDEKO on or about the 3rd day of September 2013 in Lagos, within the jurisdiction of this Honourable Court whilst being the Chairman of First Bank Plc indirectly had a personal interest in a loan facility sought for by V Tech Dynamics Links Limited in the sum of N6,150,000,000.00 (Six Billion, One Hundred and Fifty Million Naira Only), which interest was not declared to the Bank and you thereby committed an offence contrary to Section 18(1) BANKS AND OTHER FINANCIAL INSTITUTIONS ACT 2004 and punishable under Section 18(2) of same Act.”

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Certificate Scandal: We don’t have your record as a lawyer. – Supreme Court To Ex Speaker Obasa….

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5 days ago

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January 15, 2025

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More trouble may be brewing for the former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, as the Supreme Court of Nigeria has revealed that there was no record of him as a lawyer in their registry.

 

 

The apex court keeps records of all certified lawyers allowed to handle cases in any Nigerian court.

 

Obasa’s profile on Wikipedia and the Lagos Assembly’s website describes him as a lawyer and solicitor of the Federal Republic of Nigeria even though there is no mention of where he practiced or a case he handled.

 

He is also described on the Assembly’s website as graduating from the Nigerian Law School in 2007, a year after he obtained a Bachelor of Law degree from the Lagos State University.

 

But in a response to an enquiry on the subject matter on July 24, 2020, the Supreme Court categorically stated that Obasa’s name was not found on the numerous rolls of legal practitioners kept with it.

 

 

The letter signed by one Gertrude B. Karenton-Mordi on behalf of the Chief Registrar of the Supreme Court and seen on Monday, said, “This is to inform you that we have checked our records and cannot find the name: MUDASHIRU AJAYI OBASA on the nemerous Rolls of Legal Practitioners kept in this honourable court.

 

 

MUDASHIRU AJAYI OBASA is at liberty to come to the honourable court with his call to bar and qualifying certificates for enrollment.”

 

Interestingly, this is not the first time that the 47-year-old Lagos Assembly Speaker will be linked to a scandal — this merely adds to a long list of alleged wrongdoing Obasa had been discovered to be involved in.

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National Sports Festival: FG, Enugu govt sign host state agreement

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6 days ago

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January 14, 2025

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The Federal and the Enugu State Government have signed the host state agreement in respect of the 2026 National Sports Festival billed to hold in the South East State.

The agreement, which was signed by the Director-General of the National Sports Commission, Hon. Bukola Olopade for the FG and Governor Peter Mbah for Enugu State, on Tuesday, now awards Enugu State the full hosting rights for the 2026 edition of the National Sports Festival.

Speaking at the signing ceremony at the Government House, Enugu, Governor Peter Mbah thanked the Commission and other sports stakeholders for the confidence reposed in the state and his administration to stage the event, assuring that it would discharge its hosting responsibilities in a way that would leave a lifelong memory and experience on the athletes and all lovers of sports in Nigeria and beyond.

“We also appreciate the value and significance of this award. I want to commend the commission for finding Enugu worthy of being the next host of the 23rd National Sports Festival. We are going to discharge ourselves creditably.

“As you know, we like to be a role model as a state that gained preeminence over 115 years ago. We will not want to let our forebears down. We will live up to that standard.

“We have already set forth at dawn. Immediately that announcement was made, we mobilised our team. We are already working on revamping the Awgu Games Village and a whole lot. We have decided to deliver a brand new Games Village. We are also completely renovating the stadium to brand new.

“We are making sure that by the time you come here by the end of this year, you are going to be highly impressed. It is not revamping, rebranding or re-equipping, but we are also going to build additional facilities to the existing one.

“We are looking forward to having a word-class experience befitting the sports men and women, making our hosting a lifelong memory and experience,” he stated.

Earlier in his address, Hon. Olopade said the commission was encouraged by Enugu’s bid, available facilities, improved security in the state, and Governor Mbah’s determination to turn around the sports and social infrastructure to grant Enugu the right to host the event after the 22nd edition to be hosted by Ogun State.

The National Sports Commission boss added that the hosting would boost investment and tourism in the state before, during and after the event.

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