General News
Banks’ Divestment from Insurance Firms: Analyst Wants Shareholders to be Given Preference
Foremost stock analyst and shareholder in many insurance companies, Mr. Nonah Awoh has called on banks and insurance companies to carry shareholders along and allow them to take the driver seat in the determination of who buy the stocks that arises out of banks divesting from insurance companies. He stated that having laboured hard to acquire these shares; they would not fold their hands and watch people whose character and interest may be at variance with the original shareholders. According to Awoh, their fears are hinged on the fact that if the divestment process was not well handled; it may snowball into an unhealthy situation where the board and management of these insurance companies would be negatively influenced by the personal ambitions of the outsiders who may cash in on the opportunity. The share activist wants the divesting banks and insurance companies to allow the existing shareholders to take over the shares or throw the shares into the general public for acquisition. He stated that their fears is further heightened considering that similar situations had happened in the banks in the past where investors money got trapped in the banks liquidation. Another insurance shareholder, Adebisi Olawale, however feel otherwise. To him, throwing the shares into the open market was as good as allowing strategic investors to buy up the divested shares, stressing that what was important was the repositioning of these insurance companies. He added that there have been instances in the past stated where shares were acquired by cronies without the awareness of the existing shareholders that they were the true owners of the stated shares. However, he called on the insurance companies to give top priority to the shareholders in order to avoid friction which at the end will pitch the insurers in a battle of wits against the shareholders. He added that the insurance industry should not be allowed to drift from its present achievements, occasioned by the recapitalization and industry reform which has taken the industry to the next level. It will be recalled that the Central Bank of Nigeria (CBN) in continuation of its banking reforms, rolled out an order directing banks to divest from non-banking investments in order to have time to concentrate in core banking services. According to CBN, the former universal banking model created an unhealthy situation where banks were distracted from primary banking operations. The situation has already sent panicky waves beyond the shareholders as industry watchers fear that the divestment process may weaken the strength of some of these companies, considering the enormous premium that the divesting banks attracted due to their spread and clientele base. Sequel to this directive, some insurance companies have already started the divestment process. The recent case in point was the GTBank which announced a divestment of 68 percent equity in its insurance subsidiary, Guarantee Trust Assurance (GTA) plc. The notice stated that "the proposed divestment should also entail the sale of the bank’s equity stake in its insurance subsidiary – Guaranty Trust Assurance plc, which is also quoted on the trading floor."
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.
General News
T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.
NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.
Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”
The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.
Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.
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