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NPDC, Ogoni People Pledge Cooperation on Oil Production

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Convener and leader of the Ogoni Liberation Initiative, Rev. Douglas Fabeke (left), presenting a communique from the Ogoni leaders to the Managing Director, Nigerian Petroleum Development Company (NPDC), Mr. Mohammed Ali-Zarah, who was invited as guest to the Ogoni Liberation Day celebration which held in Bori, Rivers State..Tuesday.

The leaders of Ogoniland in Rivers State under the auspices of the Ogoni Liberation Initiative have pledged to cooperate with the Nigerian Petroleum Development Company (NPDC) in the exploration and production of oil and gas resources in its territory.
The Ogoni leaders made the pledge Tuesday at the Ogoni Liberation Day which held in Bori with the Managing Director of NPDC, Mr. Mohammed Ali-Zarah, as an invited guest.
Speaking at the event, the Convener and leader of the Ogoni Liberation Initiative, Rev. Douglas Fabeke, commended the Court of Appeal for the judgement confirming NPDC as the valid operator of Oil Mining Lease (OML) 11, stressing that the Ogoni people welcomed with great joy the intervention of the Federal Government and the takeover of the oil assets by NPDC following the judgement of the Appeal Court in Abuja.
The Ogoni leader described the judgment that handed OML11 to NPDC as liberation for the Ogoni people, stressing that the people of Ogoni have “looked forward to this freedom over the years”.
He further praised President Muhammadu Buhari for his administration’s commitment to the development of Ogoniland, adding that his people would support all efforts aimed at restoring the environment and exploring its huge natural resources for the benefit of all.
He declared that Ogoni leaders have resolved to eschew bitterness and work with the Federal Government to ensure that the people benefitted from the resources in their land.
“The Ogoni people are ready for oil and gas business in the land to entrench development in partnership with the NNPC and the Federal Government of Nigeria through a transformed template and practical community development delivered by the host communities.
The Ogoni people are ready to do all forms of businesses with the State, Federal and Global Corporate Communities for the development of their land, provided the business is anchored upon Ogoni development,” he said.
He submitted a communique on behalf of the people of Ogoni to the Federal Government as the request of Ogoni people and as condition for the mutual relationship between the people and NPDC.
The communique, among other things, requested that “the issue of clean-up in Ogoniland should be re-visited and the Government should mandate the handling agency to expedite actions and clean the land in tune with the UNEP Report’s recommendation or allow the Ogoni people to bring experts that would perfectly implement the recommendations of the UNEP Report to the letter”
It also called on the Federal Government to expedite action on the provisions of infrastructure to the Ogoni people.
“The Ogoni people will not work under any political manipulation that will affect the development and smooth operation in the land without capturing the interest of the people. We stand by every word drafted here and will implement it to the letter, and also ready to give the Federal Government of Nigeria maximum cooperation to achieve its aim for the success and benefit of the nation and the Ogoni people.” the communique stated.
In his remarks, the Managing Director of NPDC, Mr. Mohammed Ali-Zarah, said the company understood the concerns and yearnings of the Ogoni people and shared in their pain.
He said NPDC and the Federal Government would work with the Ogoni people to bring development, employment and growth to the land, remediate the environment and ensure that future exploration and production activities do not impact negatively on the environment.
Ali-Zarah noted that the large turn-out of people, including traditional rulers, at the event was a huge moral boost to NPDC’s confidence in its re-entry plan.
“Indeed, this is a clear testimonial and demonstration of the strong cordial relationship that has existed between us over the years. This, for us, is our social license to operate in this peace-loving community”, the Managing Director said.
He observed that it was in the best interest of the country to speedily restore the environment of Ogoniland and create the needed condition for the social economic development of the communities.
“As a viable partner, we would join you to pursue the greater good of our people and the nation. We stand with you and would work with you to achieve this within the shortest possible time,” he said.
On the communique submitted by the Ogoni Liberation Initiative signed by leaders of various communities that make up Ogoniland, Ali-Zarah assured them that he would send the document to the management of the Nigerian National Petroleum Corporation for onward transmission to the relevant quarters, including the Presidency.
Oil production operations were suspended in Ogoniland in the early 1990s due to disruptions caused by local unrest. The oilfields and other installations have since largely remained dormant.
Hope was, however, rekindled last week following an Appeal Court judgment that paved the way for NPDC to take over the operatorship of the oil assets in Ogoniland from Shell.
The Appeal Court sitting in Abuja upturned the August 23, 2019, ruling of the Federal High Court, Abuja which held that the Shell Petroleum Development Company (SPDC) was entitled to the renewal of the Lease on OML 11.
In the ruling, the Appellate Court held that the Minister of Petroleum Resources has the discretion whether or not to renew the OML 11 Lease in favor of SPDC. The Court further held that the Minister rightly exercised his discretion in awarding the OML 11 Lease to NPDC, a subsidiary of the Nigeria National Petroleum Corporation (NNPC).

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Fidelity Bank Partners Aircraft Finance Germany to Grow African Aviation Industry

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Leading financial institution, Fidelity Bank Plc, has announced the signing of a strategic partnership agreement with Aircraft Finance Germany (AFG) to advance the aviation sector in Nigeria and across Africa by both organisations.

The agreement was formally executed by Mr. Christian Hatje, Managing Director, Business Aviation and SVP Commercial, representing AFG; and Mr. Stanley Amuchie, Executive Director and Chief Operations and Information Officer of Fidelity Bank Plc at a signing ceremony in Germany recently.

Speaking at the signing ceremony, Mr. Christian Hatje stated, “This partnership marks a significant milestone in our commitment to Africa’s aviation future. Partnering with Fidelity Bank, Nigeria’s leading aviation financier, we are confident in our ability to structure solutions that will drive meaningful growth across the sector.”

Through this partnership, both institutions will work closely to identify, finance, and grow aviation opportunities across the continent. The collaboration aims to provide innovative leasing and financing solutions that support airlines, aviation operators, and related stakeholders in expanding capacity, modernizing fleets, and strengthening operational and fleet efficiency.

“Fidelity Bank remains dedicated to supporting the aviation industry through tailored financial solutions. Our collaboration with AFG strengthens our capacity to provide sustainable financing that will contribute to the expansion of aviation in Nigeria and across Africa,” explained Mr. Stanley Amuchie.

This partnership reflects a shared vision to foster long-term development, stimulate investment, and create sustainable opportunities within the African aviation industry.

Nigeria remains a strategic hub for aviation development in Africa. By combining AFG’s leasing expertise with Fidelity Bank’s deep sector knowledge and financial strength, the partnership is positioned to unlock new growth pathways and enhance the sustainability of the aviation ecosystem.

This collaboration in Africa forms part of AFG’s broader global portfolio expansion strategy, reflecting the company’s continued commitment to structured aviation investments across multiple international markets.

Fidelity Bank is regarded as a market-leader in the Nigerian aviation industry with a long list of interventions across the value chain. Its aviation finance solutions support aircraft acquisition and leasing, route expansion, aviation infrastructure development, cargo and export enablement; and partnership structures for large projects.

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GTCO Plc Releases 2025 Full Year Audited Result …Declares Another Record Dividend of 12.76k;

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Re-affirming Unrivalled Capacity to Creating Value₦ Lagos, London – 31st March 2026Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).The Group reported profit before tax of 1.23trillion underpinned by strong growth in core earnings, with interest₦ income and fee income increasing y-o-y by 23.2% and 25.9%, respectively. The performance reaffirms its capacity to generate sustainable earnings and builds on the momentum from 2024, when GTCO delivered a record profit of 1.27trillion, driven in part by 517.5billion in fair value gains, which did not recur in 2025.₦ ₦The Group’s 2025 profit after tax came in at 865.75billion against 1.02trillion recorded in 2024. The profit after tax₦ ₦ reflects the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments. However, when normalised for this effect, underlying earnings remain robust, driven by growth in core operating income. The Group continues to maintain a well-structured, healthy, and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals. Total assets and shareholders’ funds closed at 1₦ 7.8trillion and 3.₦ 4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 43.8%, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.4% and 5.0% at Bank and Group level in FY-2025 (Bank, 3.5%, and Group, 5.2% in December 2024). Cost of Risk (COR) also improved to 2.2% from 4.9% in December 2024. In specific terms, the Group’s loan book (net) grew by 12.4% from 2.79trillion as of December 2024 to₦ 3.13trillion in December 2025. Similarly, deposit liabilities grew by 23.8% from 10.40trillion to 12.87trillion during₦ ₦ ₦ the same period.Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses. The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns. Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential. Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders.”Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Post-Tax Return on Equity (ROAE) of 28.3%, Post-Tax Return on Assets (ROAA) of 5.3%, Capital Adequacy Ratio (CAR) of 43.8% and Cost to Income Ratio of 27.9%.Guaranty Trust Holding Company Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. GTCO Plc is committed to delivering long-term value to stakeholders while driving growth and development across its markets.

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Zenith Bank and Ford Foundation Honour Unsung ‘Sheroes’ with Inaugural Woman of Power Award

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On  Saturday, March 28 2026, Zenith Bank held the climax of its month-long activities to commemorate March as women’s month. The event which held at The Civic Centre, was the second of such activity at the Centre, having held the International Women Day Seminar on the 9th of March, 2026. The event was to honour and give awards to exceptional women who have shown resilience in their communities with heir vocation impacting lives sustainably.Speakers after speakers eulogized Zenith Bank for its people-centred activities and appreciated the Ford Foundation for identifying the Bank as a worthy partner in its push to support women in their peculiar cultural and economic conditions across the world.Themed “Celebrating Resilience, Leadership, and Generosity” the award recognised 19 women who were selected from the six geo-political zones in trade, petty manufacturing, education, and agriculture. These women demonstrated extraordinary strength, leadership, and impact despite the significant challenges posed by the difficult economic situation in the country.According to the organisers, the initiative provided a platform to showcase unsung “Sheroes” — everyday women who are making meaningful contributions in their communities and fields. These include market women, small-scale business owners, community leaders, educators, healthcare workers, and many others whose vital roles often go unnoticed.The sponsors of the event noted that each awardee exhibited excellence in several key areas, including leadership and initiative, community impact, innovativeness and resourcefulness, perseverance, integrity, community trust, and philanthropy.Among those honoured were: Mrs Regina Amankulor, a retired nurse empowering young people in Umuode-Nsulu community, Isiala Ngwa North LGA, Abia State; Mary Matanmi, Coordinator of the Nigeria Association of Hairdressers, Barbers and Cosmetologists, Lagos State chapter; Ifeanyi P. Ugwueze, a Guidance Counsellor and Life Coach who continues to thrive despite blindness and is currently pursuing a doctorate degree.

Others include: Amina Musa, a trade educator based in Karonmajiji, AMAC, Abuja; Adenike A. Lambo, the Iyaloja of Ilorin; Sadiya Abubakar, an educator in Jibi (Deidei), Bwari Area Council, FCT; Erikan Idem Andrew, a market woman with significant community impact in Port Harcourt; Ngozi B. Nwankpa, an Aba-based fashion designer; Hadiza Umar, a Development Specialist based in Kaduna, Kaduna State; Joy C. Ezenwa (aka Mama Amala), a trader at Sabon Gari Market, Kano; Shola Esther Babalola (Mama Sho), promoter of natural honey and founder of the Mama Sho Honey brand in Lagos; Josephine Ugwu, a staff member of the Federal Airports Authority of Nigeria (FAAN), honoured for her honesty in recovering and returning millions of naira mistakenly dropped by passengers at Murtala Muhammed Airport, Lagos. And many others.In her keynote address, the Group Managing Director of Zenith Bank, Dame Dr. Adaora Umeoji, OON, who was represented by Executive Director, Adobi Nwapa, praised the awardees and reaffirmed the bank’s strong commitment to women’s empowerment. She noted that “Zenith Bank’s commitment to gender inclusion is not a rhetoric but one of the ethos that the bank holds very dearly”. In her words, she also said, “Zenith Bank has a 50-50 gender ratio with women occupying strategic positions in the bank’s management and Board up to the current Group Managing Director being the very first female to hold that position.The Regional Director of the Ford Foundation, Dr Chichi Aniagolu, described the Woman of Power Award as an eye-opener, noting that her team’s journey across the country revealed the vast and often overlooked facets of human potential among Nigerian women.Both the Ford Foundation and Zenith Bank Plc have pledged to sustain and grow the initiative in the coming years.Zenith Bank used the forum to notify the women of their various women-targeted products and initiatives, including the Z-Woman initiative, and the Bank’s 19-year sole sponsorship of the NBBF Women’s Basketball League; thus, further highlighting its position at the forefront of women empowerment and economic inclusion across the country.

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