General News
Otudeko Emerges FirstBank Chairman
A change of baton has taken place in Nigeria’s premier financial institution, First Bank of Nigeria Plc, as Dr. Oba Otudeko, an erstwhile non-executive director, was elected on Tuesday by the bank’s Board of Directors to take over from Alhaji (Dr.) Umaru Mutallab as chairman.
Otudeko’s appointment, which is still subject to formal approval by the regulatory bodies, comes in the wake of Alhaji Mutallab’s retirement from the Board after a 13-year stint, the last 10 of which he served as chairman. The latter was appointed director on March 8, 1996 and became chairman of the Board on March 18, 1999.
The appointment of Dr. Oba Otudeko is in sync with FirstBank’s strong corporate governance credentials and best practice, ensuring that there is seamless business continuity and stability amongst all stakeholders. This corporate governance posture has won the Bank much respect and recognition both locally and internationally.
Alhaji Mutallab is retiring at the peak of an outstanding career, which witnessed a plethora of laudable achievements – a record-making and highly successful hybrid offer, the growth of the FirstBank group to nine local subsidiaries, a full-fledged bank in the United Kingdom (FBN Bank (UK) Limited), a branch in Paris through FBN Bank (UK), as well as representative offices in South Africa and China.
The incoming chairman, Dr. Otudeko, a seasoned banker and administrator, was appointed to the Board of FirstBank on May 18, 1997, where he served in various capacities. A foremost investor and major shareholder in many publicly-quoted companies, he was until recently the President of The Nigeria Stock Exchange (NSE), elected the 16th President of the NSE in September 2006. His tenure witnessed unprecedented growth in the market, wherein the NSE All-Share Index hit an historical high in May 2008. Despite subsequent market convulsions caused by global economic turbulence, Dr. Otudeko handed over a more liberalised, revitalised and cohesive Stock Exchange to the new Council in August, 2009.
Oba, as he is fondly called, is a highly respected and personable executive who has established a reputation for solid performance and sound judgment in all the disciplines. In recognition of his many contributions to the economic and social development of Nigeria, he has variously been conferred with many awards and honours. Among these are: Member of the Order of the Federal Republic (MFR) in 2000 from the Federal Republic of Nigeria, which was upgraded to the Officer of the Order of the Federal Republic (OFR) in 2003; Honorary Doctor of Science (D.Sc.) from Olabisi Onabanjo University, Ago-Iwoye; the ZIK Foundation for Leadership Award; Sardauna Magazine National Excellence and Leadership Lifetime Achiever Award; Nigerian Investment Promotion Achiever of the Year Award; the Paul Harris Fellow Award of Rotary International; Honorary Citizen of Dallas Texas, USA; and recently, Entrepreneur of the Year Award at the ThisDay Awards 2009, amongst other awards.
Beyond his entrepreneurial track, Dr. Otudeko is also a public-spirited leader. At various times, he has been entrusted with high profile national and international assignments. He was Chairman of the National Maritime Authority; Director, Central Bank of Nigeria (1990 – 1997); Council member, West African Bankers’ Association; Member, Nigerian Banks Employers’ Association; Member, Constituent Assembly responsible for drafting a new Constitution, 1988 to 1989, Council member, Manufacturers’ Association of Nigeria; Co-Chairman, Committee on Investment Climate, Nigerian Economic Summit Group; and currently a member of the Nigeria/South Africa Bi-National Commission. Outside Nigeria, he was appointed the Honorary Consul General of the Republic of Liberia to the Federal Republic of Nigeria between 2003 and 2005. Presently, he is the Chancellor, Olabisi Onabanjo University, Ago-Iwoye in Nigeria.
A diligent and prolific boardroom player, Otudeko is Chairman of the Boards of Honeywell Group Limited, FBN Bank (UK) Limited, First Trustees Nigeria Limited, Fan Milk of Nigeria Plc., and the Nigeria-South Africa Chamber of Commerce. He was the founding Chairman of Econet Wireless Nigeria Limited and remains a Director of Zain Nigeria Limited, the successor company. Furthermore, he is a Director of First Bank of Nigeria Plc., Ecobank Transnational Incorporated (ETI), Khalil & Dibbo (Haulage) Limited, and Lagos Sheraton Hotel. He was formerly a director of Guinness Nigeria Plc, British-American Tobacco Company Limited, and Franco-Nigeria Chamber of Commerce.
He is a Fellow of the Chartered Institute of Bankers, UK; Fellow of the Institute of Chartered and Corporate Accountants, UK; Fellow of the Institute of Chartered Accountants, Nigeria and Fellow of the Institute of Chartered Secretaries and Administrators of Nigeria.
General News
MultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal

MultiChoice, a CANAL+ company, has retained the distribution rights to 12 Warner Bros. Discovery thematic channels following the signing of a new multi-year, multi-territory agreement between CANAL+ Group and Warner Bros. Discovery, marking a significant expansion of their long-standing partnership.

MultiChoice
The new deal, which spans several regions across Africa and Europe, covers the distribution of HBO Max as well as the renewal of selected Warner Bros. Discovery thematic channels. It represents a major milestone in the companies’ international collaboration and strengthens content offerings across MultiChoice Group territories.
MultiChoice disclosed that this agreement builds on earlier partnerships concluded in Europe. “It builds on the landmark agreements concluded in France in 2024,including the renewal of the exclusive pay-TV window for Warner Bros. Pictures films just six months after their theatrical release in France and the integration of HBO Max within select CANAL+ group offers – as well as in Poland in 2025, with the renewal of the distribution agreement for 22 thematic channels (including TVN 24 and Eurosport) and 4 free-to-air channels (including TVN).”
Under the renewed arrangement, MultiChoice Group will continue to distribute 12 Warner Bros. Discovery thematic channels across its territories, with some channels offered on an exclusive basis. CNN International and Cartoon Network will remain exclusive to South Africa while being distributed non-exclusively in other markets. Cartoon Network Porto will be exclusive in Angola and Mozambique and non-exclusive elsewhere. Other channels such as Discovery Channel, TLC, HGTV, Food Network, TNT Africa, Travel, ID and Cartoonito will be offered on a non-exclusive basis.
According to the partners, the deal reinforces CANAL+ Group’s channel portfolio on the continent. “This agreement enables CANAL+ Group to strengthen its entertainment, kids, news, and documentary channel offerings in African markets.”
The agreement is also expected to improve access for CANAL+ Group subscribers to Warner Bros. Discovery’s premium content through HBO Max and selected channels, including globally recognised series and films, further extending the studio’s international reach while consolidating MultiChoice’s content offering in key markets.
General News
Nigeria Police suspends tinted glass permit enforcement over court injunction

Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Tinted glass permit
The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.
An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.
Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.
The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.
IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.
General News
NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.
According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.
The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.
Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.
He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.
Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.
In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.
Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.
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