General News
New UBA, Zenith, Skye Bank MDs Assume Duty
Three bank managing directors – Jim Ovia (Zenith), Tony Elumelu (United Bank for Africa, UBA), and Akinsola Akinfemiwa (Skye) have taken their bow and left the stage in line with the directive of the Central Bank of Nigeria (CBN) that no bank MD should serve more than 10 years.
Their successors Godwin Emefiele (Zenith), Phillip Oduoza (UBA), and Kehinde Durosinmi-Etti (Skye), have assumed duty.
The three incoming managing directors, already ratified by their boards and the CBN, were before now deputy managing directors of their respective banks.
With banking experience spanning 23 years, Emefiele, a pioneer in Zenith Bank’s management, was appointed deputy managing director in 2001, and lately supervised all the local subsidiaries, treasury and correspondent banking, and multilateral, conglomerates, and private banking.
Oduoza, a graduate of civil engineering, holds an MBA (finance) from the University of Lagos (UNILAG), and is an alumnus of the Advanced Management Programme of the Harvard Business School, among other world class trainings.
Durosinmi Etti, a chartered accountant and fellow of the Chartered Association of Certified Accountants (FCCA), United Kingdom, is not new to the position of bank MD or Chief Executive Officer (CEO).
He was first appointed to the position in July 2002 when he managed EIB International Bank until it fused with others during consolidation to form Skye Bank in January 2006.
Durosinmi-Etti graduated in economics from the University of Ibadan (UI) in 1982, and thereafter started his working career as an audit trainee at Pricewaterhouse, from where he moved to Akintola Delloite. He forayed into banking in 1987 when he joined Nigeria-American Merchant Bank as Head, Accounts/Computer and later, Internal Control.
He left for Midas Merchant Bank in 1990 where he served at various times as Head of Treasury, Assistant General Manager in charge of Money Market Division, before becoming Executive Director and Chief Executive Officer in 1995 at 32.
He joined Lagos Building Investment Company in 2001 as MD, and left for EIB International Bank as General Manager in April 2002, becoming MD/CEO after barely four months.
Durosinmi-Etti was in charge of Skye Bank’s Corporate Banking Group, Investment Banking Group, Treasury Group and Development Finance Group.
Meanwhile, UBA at the weekend gathered the who-is-who in corporate Nigeria – as well as politicians, including former President Olusegun Obasanjo, Ministers, Governors and their Deputies, Commissioners, federal lawmakers and the diplomatic class – for a send-off party at Eko Hotel and Suites, Victoria Island, Lagos.
Others present included former CBN Governor, Joseph Sanusi; former CBN Deputy Governors; Central Bank Governors from neighbouring countries; Securities and Exchange Commission (SEC) Chairman, Udoma Udo Udoma, and SEC Director General, Arunma Oteh.
President Goodluck Jonathan, in a goodwill message read by Remi Babalola, minister of State for Finance said Elumelu, “represents what Nigeria can be, should be, and will be.”
Ferdinand Alabraba, chairman, UBA noted that the exit of Elumelu marks “the end of a glorious era in the history of UBA,” hence the occasion was tagged “A celebration of excellence.”
He assured that 13 years after piloting the affairs of Standard Trust Bank (STB) that became the fifth largest player in the industry, despite being a vestige of the failed Chrystal Bank of Africa, which later merged with UBA, Elumelu will remain relevant in the financial system.
A landmark for which Elumelu will be remembered, he added, was that STB under his leadership was the first Nigerian bank to open an offshore subsidiary, adding that UBA now has presence in 18 countries across Africa, as well as in Europe and the Unites States.
Alabraba said. while assuring that Oduoza, who has 22 years banking experience, will continue the strategic intent of the group.
Oduoza affirmed his commitment to continue with the vision, adding that most members of the team left behind have been part of the dream for a very long time.
He said he will play his part “in achieving those goals with determination, responsibility and hard work.”
General News
NRS Debunks Viral Claim of New Tax on Vehicle

Nigeria Revenue Service (NRS) has denied reports that the federal government has introduced a new tax on vehicles.

The clarification follows the circulation of a viral message online claiming that all vehicle owners would be required to start paying a new tax from July 1, 2026.
In a statement released on Sunday, the NRS said the information in the message is false and did not come from the agency or any official government institution.Nigeria Travel Guides
According to Dare Adekanmbi, spokesperson for the NRS, the viral message was designed to mislead the public. He explained that it was made to look genuine by using official government logos and formatting.
The message reportedly instructed owners of private, commercial, and corporate vehicles to pay an unspecified fee either online or through approved banks and agencies. It also included a website that was wrongly presented as an official government platform.
Adekanmbi stressed that the website mentioned is not connected to the government and warned Nigerians not to make any payments based on such information.
He said the NRS has not introduced any new vehicle tax and that any official policy or tax change would be properly announced through verified government channels.
The agency urged citizens to ignore the fake message and avoid falling victim to possible fraud. It also advised Nigerians to always confirm such information through trusted and official sources before taking any action.
The NRS further encouraged the public to follow its official communication platforms to stay informed about genuine tax policies, updates, and government directives.
General News
NCC to Intensify Crackdown on Illicit Network to Protect Copyrights

National Copyright Commission (NCC) has reaffirmed that piracy remains a major threat to the nation’s creative economy, vowing to intensify its nationwide crackdown on illicit networks to protect intellectual property.

Pic credit…soundcloud.com
Dr. John Asein, director-general of the NCC, disclosed this in a statement to mark the 2026 World Book and Copyright Day.
The commission noted that piracy remains a major threat, undermining legitimate enterprise and eroding the economic value of creative works.
Asein lamented that inadequate distribution systems and limited access to books also constrain the growth of readership.
He described the event as an important occasion, which showcased the enduring value of books as foundations of knowledge, instruments of cultural preservation, and drivers of national development.
He described the theme for this year’s celebration, ‘Read Books, Respect Copyright,’ as a call on Nigerians to embrace reading as a lifelong habit, while recognising that respect for copyright is essential to sustaining creativity and rewarding authors.
The commission noted that Nigeria’s book industry has evolved significantly, from the post-independence emergence of indigenous publishing to today’s digitally driven ecosystem.
“Nigerian authors continue to gain global recognition, while publishers are expanding capacity. However, challenges persist,” he said.
The commission commended the National Intellectual Property Policy and Strategy, describing it as a bold step toward repositioning intellectual property as a driver of economic transformation.
The policy, according to him, provides a roadmap for revamping the book sector for the benefit of authors and publishers, and is accessible at ippolicy.ng.
The NCC also reaffirmed its commitment to inclusive access through the Marrakesh Treaty, as reflected in the Copyright Act, 2022, enabling accessible formats such as Braille and audio texts.
It urged Nigerians to respect copyright and purchase books only from authorised sources.
General News
Fusewall Holdings Acquires 100% Stake in Coloplus, Expands Telecom Infrastructure Footprint

Fusewall Holdings, founded by Azeez Amida, has announced the acquisition of a 100 percent equity stake in Coloplus Worldwide Service Limited, in a move aimed at strengthening its position in Nigeria’s telecommunications infrastructure space.

Fusewall Holdings
The deal marks a significant milestone in Fusewall’s broader strategy to build an integrated and future-ready platform across key sectors, particularly within the country’s fast-evolving digital economy.
The transaction was led by Amida, whose role in structuring and executing the deal was described as pivotal. According to the company, his leadership helped align stakeholders and navigate complex negotiations to ensure a successful close while positioning the business for long-term growth.
A spokesperson for Fusewall Holdings said the acquisition represents “a deliberate step forward” in the company’s expansion strategy, noting that the focus remains on building platforms that combine operational efficiency, resilience, and scale.
Coloplus brings a substantial operational footprint to the deal, including access to about 900 partner locations and roughly 20 owned sites. This combination of reach and infrastructure control is expected to give Fusewall a strategic advantage as it scales operations nationwide.
Fusewall said it plans to deploy capital, strengthen governance structures, and enhance operational execution as part of the integration process. The move is expected to improve service delivery, boost infrastructure reliability, and support expansion into underserved and high-demand areas.
The acquisition also aligns with the company’s broader ambition to help bridge Nigeria’s telecommunications infrastructure gap by expanding connectivity, improving network resilience, and advancing digital inclusion.
Fusewall Holdings said the deal reflects its commitment to disciplined execution and long-term value creation as it continues to grow its footprint in Nigeria’s digital ecosystem.
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