News
Savannah Bank to Commence Operation Next Year
Savannah Bank Plc has said that the bank will stage a comeback in the next one year and will pay all depositors, whose funds were trapped since 2002, adding that it will still retain its national structure rather than diminishing to a regional bank.
Currently, the promoters of the bank said they are mobilizing funds from foreign and local investors and would be subjected to verification by the Central Bank of Nigeria (CBN) to be sure that their funds were adequate for the bank’s commencement of operations.
The promoters who spoke to through the bank’s Media Management team led by Mr. Ernie Onwumere and Obi Adiele explained that the bank would be capable of paying hundred percent deposits trapped in the bank. They contended that preliminary investigations indicated that the bank was being owed more than what it needed to settle all its former depositors.
The bank plans to start operation from its regional offices such as Lagos, Port Harcourt, Enugu, Kano while the corporate head office will be located in Abuja.
It would be recalled that in June 10, 2009, the Nigeria Deposit Insurance Corporation (NDIC), the Central Bank of Nigeria (CBN) and the Nigeria Police which had laid siege at head and branch offices of Savannah Bank of Nigeria Plc since 2002, and was later restored its banking license, ending seven years of agony for directors, depositors and other stakeholders of the bank.
The handover ceremony which was performed by the former Managing Director/Chief executive of NDIC, Alhaji Ganiyu Ogunleye and a representative of the Director of Banking Supervision, Mr. Sola Awoyebi, also had in attendance directors of the Savannah Bank Plc, including Senator Jim Nwobodo, his wife Patricia, Professor Sam Aluko and interim board chairman, Mr. Richard Abrahams, among other personalities.
Mr. Onwumere noted that the management of the bank was currently concerned with the verification of the depositors’ accounts, the assets of the bank mobilizing funds for its take off rather than investigating those indebted to the bank.
According to him, “Central Bank has to verify the funds they (Foreign investors) are bringing in to confirm that the funds are available. That is why we are saying everybody in this era of due process we have to follow the due process so that all the capital in procession they are verified they are confirmed that they are in the group and certify issue for the capital importation.
Mr. Onwumere confirmed the bank’s new foreign investor, Mr. Peter Abraham as its chairman, adding that Savannah bank will not change it brand because the new management believe in it even though there could be innovations.
He said: “We believe that working with our regulators, we will begin to count 18 months from February 2010. Right now we are doing verification. We are going to the branches to verify with the auditors, with NDIC. It is when we finish the verification we can now have a roll out plan.
“We are beginning gradually; we will verify our depositors so that we ascertain our level of indebtedness. So, the next stage we go is now to begin to regularize the accounts by opening the branches in Abuja, Lagos, Kano, Port-Harcourt, Enugu, from that regional role out we will now go over to the states.
“We are sure that before the year ends we would have gone too far. We also need to compete in the market. The market is getting more and more competitive. So, we do not need to waste time. We have a chairman, Richard Abraham of the board. He was there at the official handover by NDIC, CBN. He is leading part of the team that is trying to source for investors”.
News
Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

Stanley Amandi, veteran Nollywood actor and filmmaker, has been arrested by the Nigerian military over his alleged role in a foiled coup plot to overthrow President Bola Tinubu’s government, according to an exclusive report by Premium Times.

Stanley Amandi, Nollywood Actor
The filmmaker, also a former chairman of the Actors Guild of Nigeria (AGN) Enugu State chapter, was reportedly detained in September 2025 alongside several military officers accused of planning a violent overthrow, including potential assassinations of top officials, according to the newspaper’s sources.
Reports indicated that the coup plotters planned to wholesale assassination of top government officials including President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, and Speaker of the House of Representatives Tajudeen Abbas, among others.
On Monday, the Defence Headquarters confirmed the plan to illegally oust the Tinubu administration, saying the indicted officers will be arraigned before military judicial panels.
In its statement, the Defence Headquarters said the investigation has been completed and forwarded to “appropriate superior authority in line with extant regulations.”
According to the military, the investigation was “comprehensive” and conducted in line with established procedures, examining “all circumstances surrounding the conduct of the affected personnel.”
The military disclosed that the findings identified “a number of the officers with allegations of plotting to overthrow the government,” describing such conduct as “inconsistent with the ethics, values and professional standards required of members of the Armed Forces of Nigeria.”
Mr Amandi has featured in many Nollywood movies and is known for his work as an actor, production manager and director.
His notable works include “The Album,” where he served as director; “Tiger King,” where he also served as director and produced in 2008; “Cornerstone,” produced in 2019; and “Once Upon a Dream,” in which he appeared as an actor in 2024.
Mr Amandi’s last Instagram post was on 19 September 2025, shortly before his arrest.
News
Firms Commit to Boost African Robotics Market

AfricAI and Micropolis Robotics have signed a multi-year exclusive distribution and deployment agreement, which marks one of the continent’s most significant robotics market entries.

Micropolis AI Robotics is a United Arab Emirates-based robotics manufacturer operating in autonomous systems, while AfricAI is a company building practical, revenue-driven artificial intelligence (AI) systems for African businesses, governments, and global partners operating in emerging markets.
According to the agreement, Micropolis Robotics named AfricAI as its exclusive continental partner, prohibiting direct sales, alternative distributors, and third-party agents from operating in the territory.
The partnership establishes AfricAI as the primary execution, localisation, and go-to-market platform for intelligent robotics in Africa’s industrial, security, logistics, and infrastructure sectors.
AfricAI said this exclusive mandate positions the company as the gateway for advanced autonomous systems entering African markets, ensuring regulatory compliance, local capacity building, and sovereign control over deployment frameworks.
The partnership, according to the two parties, moves beyond software- based AI into the realm of physical AI — intelligent machines capable of operating in complex, real-world African environments.
“This is not a collaboration, it is a market-shaping mandate,” said Fareed Aljawhari, CEO of Micropolis Robotics. “AfricAI now represents the exclusive gateway through which Micropolis technologies enter Africa. Their sovereign AI vision, operational reach, and regulatory fluency make them the only partner capable of executing at a continental scale.
Furthermore, the agreement enables AfricAI to integrate Micropolis’ autonomous robotics systems with AfricAI’s sovereign AI stack, resulting in AI-powered security and surveillance platforms, robotics-enabled logistics and port operations, industrial automation, smart infrastructure, and municipal robotics tailored to African operating conditions.
Initial deployments will commence in security, smart infrastructure, and logistics, with phased expansion across multiple African states as part of AfricAI’s broader continental AI, data, and intelligent infrastructure strategy.
The agreement also includes long-term performance-linked expansion rights, automatic renewals, and a defined localisation framework to support robotics deployment, workforce training, and skills transfer across Africa.
Prince Malik Ado-Ibrahim, executive chairman of AfricAI, said: “Africa does not need imported automation — it needs sovereign, context-aware intelligent systems. This exclusive mandate allows AfricAI to industrialise robotics deployment at scale while retaining control, compliance, and value creation on the continent.”
News
Subair: LIRS Won’t Raid Accounts – Unless You’ve Lost Every Court Battle

Lagos State Internal Revenue Service Executive Chairman Ayodele Subair Tuesday demolished online panic over alleged bank account raids, insisting the agency’s “Power of Substitution” targets only hardcore tax dodgers who have exhausted every appeal from tribunals to the Supreme Court over half a decade of disputes.

Ayodele Subair
Subair, speaking on Arise TV, shredded viral fears that LIRS would swoop on residents’ savings without warning, clarifying the mechanism under Section 60 of the Nigeria Tax Administration Act 2025 kicks in solely after assessments spark objections, reconciliations, demand notices, and a gruelling courtroom odyssey through High Court, Court of Appeal, and apex rulings.
The LIRS weekend notice had ignited fury by announcing enforcement via third parties – banks, employers, tenants, debtors – to claw back unpaid Personal Income Tax, Capital Gains Tax, Stamp Duties, and Withholding Tax from chronic defaulters holding funds or owing money to them, whether due now or accruing later.
Subair likened the process to a “long timeframe, not less than five years,” where recalcitrant bigwigs who stonewall every step become fair game, with LIRS directing agents like customers or partners to divert payments straight to the taxman in lawful settlement.
Far from arbitrary grabs, the chairman stressed it’s a final resort for “entirely recalcitrant” holdouts who ignore Notice of Refusal to Amend (NORA) and every olive branch, ensuring Lagos coffers snag rightful revenue fuelling the state’s bulging budget without shotgun raids on compliant payers.
As social media buzzes with defiance – “They can’t touch my account!” – Subair’s blueprint spotlights Nigeria’s tax evasion scourge starving subnationals of trillions yearly, with Lagos alone chasing billions in arrears amid federal revenue wars and economic headwinds squeezing the commercial capital’s 25 million souls.
Industry voices nod to the legality but plead for digital dashboards tracking disputes transparently, warning overzealous recovery could spook investors in Africa’s fintech and startup mecca already reeling from naira nosedives and grid glitches.
With LIRS poised to unleash the hammer on vetted violators, Subair’s clarion call aims to separate myth from muscle, bolstering Lagos’ IGR juggernaut that hit N815 billion last year while daring defaulters to test the full judicial gauntlet before crying foul.
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