IMO BREAKING NEWS BLOG

Unity Bank Plc recorded a gross earnings of N59.3 billion for the financial year ending December 31, 2023, reflecting a 3.84% year-on-year increase.

According to its audited financial report submitted to the NGX Group Limited, the bank also saw a 23% surge in customer deposits, rising to N402.9 billion from N327.4 billion. This growth highlights sustained retail expansion and strong customer confidence.

Key financial indicators from the report include total assets of N472.5 billion, net fee and commission income of N5.2 billion, and a 9.6% rise in interest income, which climbed to N53.7 billion from N48.8 billion.

Commenting on the results, Managing Director/CEO Mrs. Oluwatomi Somefun acknowledged the challenges posed by the naira devaluation and forex shortages, which had affected economic stability. However, she noted that key performance indicators are now rebounding, reflecting the bank’s strategic efforts in recapitalization, asset creation, product innovation, and digital banking.

She emphasized that the bank remains optimistic about sustaining this momentum, driven by customer confidence, an expanding retail market, and upcoming digital innovations, including a soon-to-be-launched omnichannel app designed to enhance user experience and boost earnings.

Additionally, the Central Bank of Nigeria (CBN) recently approved a business combination between Unity Bank and another innovative financial institution. This strategic partnership aims to merge traditional banking strengths with digital expertise, enhancing service delivery and growth prospects.

Analysts maintain a positive outlook on Unity Bank, citing its resilience, strong market perception, and growing investor confidence. 

Atalanta co-owner Stephen Pagliuca has defended Ademola Lookman following head coach Gian Piero Gasperini’s criticism of the winger.

Gasperini had publicly blamed Lookman for missing a crucial penalty in Atalanta’s 3-1 home defeat to Club Brugge, labeling him "one of the worst penalty takers." Lookman later described the remarks as "disrespectful."

However, Pagliuca stated that the issue has been resolved within the club.

“We want to move past this situation, and I believe we have, especially after our 5-0 victory against Empoli,” Pagliuca told Gazzetta dello Sport.

He added, “Gasperini made a mistake by singling out an individual. At Atalanta, alongside the Percassi family, our policy is clear: when things don’t go as planned, we take collective responsibility and focus on improving.” 

The Minister of Interior, Dr. Olubunmi Tunji-Ojo, has clarified that Nigeria’s Visa-on-Arrival (VOA) policy has been upgraded, not scrapped, as previously reported.

Speaking after a closed-door meeting with the Presidential Enabling Business Environment Council (PEBEC) in Abuja, Tunji-Ojo addressed concerns over the policy changes. His remarks were echoed in a statement issued by PEBEC Director-General, Princess Zahrah, who emphasized the government’s commitment to streamlining business processes and reducing bureaucratic hurdles.

The minister explained that while the VOA policy remains in place, new regulations now require pre-arrival clearance from Interpol, criminal record systems, and other security agencies in real time.

“The Visa-on-Arrival process is not being scrapped; it has been upgraded for greater efficiency and security. Travelers will still be able to apply online for short-stay visas, with approvals granted within 24 to 48 hours," Tunji-Ojo stated.

He added that once approved, visas would be sent directly to applicants via email, eliminating the need for a physical sticker upon arrival.

“This enhancement will streamline the process, reduce inefficiencies, and improve automation, ensuring better control over the movement of travelers. It is another step towards creating a more business-friendly environment and attracting foreign investment,” he said. 

Former President Goodluck Jonathan and former Chairman of the Independent National Electoral Commission (INEC), Attahiru Jega, have decried the influence of political interference on the appointments of electoral commissioners. 

Jonathan and Jega spoke on Tuesday at a conference organised by pro-democracy and advocacy group Yiaga Africa in Abuja. The event was tagged, ‘Reflection Conference on Democratic Elections in West Africa’.

“The electoral commission must be fully independent and we must have credible people. Political leaders who are so domineering and over-pressuring you (INEC staffers) to do what is wrong should resign and leave,” Jonathan said.

On his part, Jega said, “There is political interference in the appointment or removal of electoral commissioners and other election officials.” He said citizens, civil society organisations and drivers of changer should continue to mobilise effectively for credible elections. 

A hearing-impaired man, Kuma Haruna, has taken his former lover, Malma Bilkisu, to a Shari’a court in Kaduna State, seeking the return of his N100,000 savings, which he claims she refuses to repay.

Haruna’s brother, Abubakar, testified in court that Haruna had been entrusting his money to Bilkisu for safekeeping. However, when he requested the funds, she claimed to have only N80,000, significantly less than the N175,000 he estimated.

The dispute was initially brought before a Shari’a court in Rigasa, where Bilkisu presented N80,000, but Haruna refused to accept it. The judge proposed that both parties swear on the Quran, but they never returned to finalize the case.

Now, the matter has been refiled in a different Shari’a court, which has adjourned proceedings until March 17, when Bilkisu’s lawyer is expected to present her defense.

In addition to the financial dispute, Haruna is also seeking justice over Bilkisu’s alleged failure to fulfill her promise to marry him. 

A 200-level Chemical Engineering student from the Federal University, Otuoke, reportedly drowned in the Ekoli Creek, Yenagoa, after attempting to swim across the river for an N300 bet.

The incident occurred on Sunday morning, but the student’s body had yet to be recovered, and his identity remained unknown.

According to sources, the victim had placed a bet with his coursemates, claiming he could successfully swim across the creek. However, while attempting the challenge, he submerged and has not been seen since.

A fellow student shared, “He made a bet with his coursemates, and they all contributed N300 for the wager. As he was swimming, he went under the water and has not resurfaced.”

Efforts to contact the university’s Public Relations Officer, Ms. Mercy Ekott, were unsuccessful, as she did not respond to calls.

When reached for comments, the Bayelsa State Police Public Relations Officer, Mr. Musa Mohammed, stated that he had not been briefed on the incident and could not confirm the student’s identity. He, however, assured that updates would be provided once available.