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125 YEARS ANNIVERSARY: FIRSTBANK EMBARKS ON 125KM RELAY WALK TO GREATNESS,
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On Saturday, 16 March 2019, Nigeria’s premier financial institution, First Bank of Nigeria Limited and other corporate entities in the FBNHoldings group would collectively have a 125km Relay Walk to celebrate the Bank’s 125 years of unbroken business operations in commemoration of its 125 years anniversary. Following the flag hoisting ceremony, the anniversary activities curtain raiser event that held on 1 March 2019, the 125km Relay Walk which is to be carried out at locations across Nigeria and other countries where the Bank operates is among the many activities lined-up to celebrate the Bank’s impact and contribution to the growth and development of Nigeria over the years, predating the independence of the West African country with a view to reinforce the collaborative efforts of all institutions of the group, FBNHoldings, as well as building on the heritage for the next 125 years and beyond. According to Dr. Adesola Adeduntan, the Chief Executive Officer, First Bank of Nigeria Limited, “the 125km Relay Walk is a representation of the collaborative effort of not just FirstBank but all entities in our holding company, FBNHoldings, that have in the last 125 years impacted lives and contributed to the growth and development of our host communities and countries where we do businesses. At FirstBank, we are proud of the strides made across these locations where we operate as without the effort of all staff – past and present – as well as our customers and stakeholders, there would be no FirstBank. The 125km is a mark of our incredible journey of delivering impeccable financial services to our customers as we leave no stone unturned to remain an icon of admiration in today’s financial services industry in Africa.” Speaking on the significance of the ‘Relay Walk”, Adeduntan explains that The Relay Walk is a collaborative effort to achieve a symbolic 125km. He added “It is also a representation of the FirstBank brand in the last 125 years; our people, the team work, partnership and the collective spirit which has shown that as a team, together we can do and achieve more. It is neither a marathon, nor sprint, but a surefooted, steady walk we have taken in the last 125 years.” On how the “Relay Walk” would be carried-out and what it means to the brand, Folake Ani-Mumuney, the Group Head, Marketing and Corporate Communications, FirstBank explains “As a Group, we have journeyed through the ages, our footprints spreading far and wide with indelible landmarks of several firsts. The Relay Walk, yet another First, combines a relay with a walk. A relay, symbolic with races connotes the agility of sprint, which can only be achieved through a team’s collective effort while the passing of the baton during a relay connotes effective succession, thus all attributes evident in FirstBank’s attainment of 125 years of sustained profitable growth. Ani-Mumuney explained the Relay Walk would see staff, customers and stakeholders walk at least 1.25km in teams and from different locations to make up the minimum 125km. At the end of the walk in each location, teams will symbolically pass the baton, committing to a cause that will take the Group to the next 125 years. The baton exchange symbolises the strong culture of succession planning of the Group in the last 125 years, a trait that highlights the dynamic and transformational nature of the brand as well as the essence of future proofing through a deliberate planning of transitions from one generational to another. The baton exchange is a commitment by the current leadership to uphold this spirit of foresight and deliberate planning of taking the brand to greater heights through the next 125 years. The 125km Relay Walk, to be led by Dr. Adeduntan will terminate at the Bank’s corporate Head Office in Marina where staff, customers and other stakeholders will converge to witness the symbolic baton hand over and a commitment to the next 125 years.
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About FirstBank
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria for 125 years. With some 15 million customer accounts, FirstBank provides a comprehensive range of retail and corporate financial services with over 750 business locations. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing. Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner. FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.
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Dangote Denies Fallout with Elumelu, Debunks Financial Support Claims
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The Dangote Group has dismissed as false and malicious claims of a rift between its President, Aliko Dangote, and the Chairman of Heirs Holdings, Tony Elumelu, and also rejected allegations that he (Dangote) solicited support for financing his refinery project.
In a statement issued on Sunday, the group described as “entirely baseless” a publication stating that Dangote had revealed why he distanced himself from Elumelu, stressing that neither the businessman nor the organisation made such remarks.
The statement, signed by the Group Chief Branding and Communications Officer, Anthony Chiejina, said the report misrepresented both personal and corporate positions and added that there was no disagreement between the two prominent business leaders.
“The Dangote Group has become aware of a publication titled ‘Aliko Dangote Speaks Out on Why He Distanced Himself from Tony Elumelu’, which is false, malicious, and baseless. At no time did the President or the Group make such statements or express such sentiments,” the statement read in part.
The company further dismissed claims that the multi-billion-dollar Dangote Petroleum Refinery & Petrochemicals was financed through personal borrowing from friends, describing such assertions as inaccurate and a deliberate misrepresentation of facts.
According to the group, Dangote does not fund projects through informal personal loans, noting that any such claims should be backed by verifiable evidence.
“As a matter of principle, Aliko Dangote neither finances his projects through personal borrowing from friends nor engages in lending arrangements of that nature. Any individual making such claims should provide verifiable evidence to substantiate them,” the statement added.
The group also clarified that there was no strain in the relationship between Dangote and Elumelu, maintaining that both men continue to enjoy a longstanding and cordial relationship despite the claims circulating in the report.
The clarification follows the circulation of a widely shared online post which alleged that Dangote fell out with Elumelu after a failed financial assistance request during the construction of the refinery.
In the post, attributed to Dangote but now disowned by the company, the author claimed that in 2021, when the refinery project was about half-completed, he ran out of funds and approached several business associates for support, including Femi Otedola, Abdulsamad Rabiu, Mike Adenuga, and Elumelu.
The post further alleged that Elumelu promised $20m but later became unreachable, while other associates reportedly raised $500m to support the project, with Otedola said to have contributed $300m.
However, the Dangote Group said such claims were fabricated and should not be attributed to its president, reiterating that the financing narrative presented in the post was false.
Beyond the disputed publication, the company raised concerns over what it described as a growing trend of fabricated statements and the unauthorised use of Dangote’s identity in digitally manipulated content.
It warned that the misuse of his name, likeness, and image in artificial intelligence-generated advertisements and other misleading materials poses reputational risks and could amount to fraud.
“Furthermore, the group notes with concern a rising pattern of fabricated statements and the unauthorised use of Aliko Dangote’s name, likeness, and image in AI-generated advertisements and other misleading content. These actions amount to reputational harm and potential fraud,” the statement said.
The company cautioned individuals, organisations, and platforms involved in creating or disseminating false information to desist immediately, warning that it would not hesitate to pursue legal action where necessary to protect its reputation and that of its leadership.
The Dangote Group reaffirmed its commitment to maintaining high standards of integrity while continuing its industrial and economic contributions across Africa, particularly in advancing self-sufficiency and sustainable development.
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Rising Attacks on Abuja–Kaduna Trains Spark Alarm as NRC Seeks Urgent Community Support
The Nigerian Railway Corporation (NRC) has raised serious concerns over a growing wave of attacks targeting train operations along the Abuja–Kaduna rail corridor, describing the incidents as dangerous and economically damaging.
In the latest attack, suspected vandals reportedly targeted a moving train around Kilometer 177 on the route, pelting stones at the locomotive and damaging its windscreen. The incident is one of several recorded in recent weeks, highlighting an alarming pattern of hostility along the critical transport corridor.
According to the Corporation, similar acts have occurred in multiple locations, including Gidan Busa and Sarki Gora Village in Kakau District, within Chikun Local Government Area of Kaduna State. In total, more than six attack points have been identified within a two-week span, intensifying operational challenges for railway authorities.
The NRC warned that these repeated attacks pose a direct threat to passengers, railway personnel, and infrastructure. It described the acts as economic sabotage capable of undermining the Federal Government’s heavy investment in rail transport and disrupting a key component of national mobility.
Despite the risks, the Corporation confirmed that train services along the corridor have continued, with heightened safety measures and increased vigilance by railway staff to ensure passenger safety. Management commended security agencies for their ongoing collaboration in protecting railway assets and maintaining order along the routes.
Efforts are currently underway in partnership with security operatives, community leaders, and other stakeholders to strengthen surveillance, identify those responsible, and bring them to justice.
The NRC has also appealed to residents living along railway corridors to play an active role in safeguarding the infrastructure. It urged communities to report suspicious movements and discourage acts of vandalism, warning that continued attacks could disrupt smooth service delivery if not urgently addressed.
Reaffirming its commitment, the Corporation assured Nigerians that it remains focused on providing safe, secure, and efficient rail services nationwide, while intensifying efforts to protect both passengers and critical railway infrastructure.
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Tinubu’s $2.99bn Rail Push Sparks Calls for Nationwide Network Expansion
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By Sotayo Olayinka
The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects, signalling a renewed commitment by the administration of Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.
While this initiative is widely commendable, there is a growing call for the Federal Government to extend similar support to the Nigerian Railway Corporation (NRC). Strengthening the corporation would significantly improve inter-state transportation, ease the pressure on road networks caused by overloaded trucks, and enhance logistics efficiency nationwide.
Nigeria has already recorded progress with the Lagos–Ibadan rail corridor. However, greater impact can be achieved if the government connects Lagos to Abuja, complementing the existing Kaduna–Katsina line. Such integration would go a long way in addressing the country’s persistent transportation challenges. There is also increasing public demand for the expansion of rail services to the northern and eastern regions, which would create a more unified and dependable national transport system.
Many Nigerians still recall the 1960s, when train services operated seamlessly from Lagos to Kaduna and even Sokoto—an era that underscored the immense potential of an efficient rail network.
Expanding the railway system aligns with the administration’s Renewed Hope Agenda and would deliver tangible results in infrastructure development. There is also a widely held view that the current leadership of the NRC, under Managing Director Kayode Opeifa, is making meaningful progress in revitalizing rail services.
Sustained government backing will be critical to consolidating these gains and building a modern, efficient, and nationally connected railway system capable of driving economic growth and easing transportation challenges across Nigeria.
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