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CIG Motors Terminates Appointment Of Executive Director Over Financial Misappropriation

CIG Motors sacks Executive Director Jubril Arogundade Over Financial  Misappropriation and Abuse of Authority – The Tanzania TimesCIG Motors Co. Ltd has announced the immediate termination of the appointment of its Executive Director, Jubril Arogundade(@JubrilofLagos), following internal investigations that uncovered issues relating to financial misappropriation and abuse of authority.

The company in a press statement said the decision followed a period of suspension and a comprehensive internal review.

According to CIG Motors, the findings of the investigation revealed conduct that fell significantly below the company’s governance, compliance, and ethical standards, making immediate termination necessary.

The company further disclosed that matters connected to financial impropriety arising from the investigation have been formally referred to the Economic and Financial Crimes Commission (EFCC). CIG Motors stated that it is cooperating fully with the authorities as the matter progresses through the appropriate regulatory and legal channels.

CIG Motors emphasised that the action reflects a zero-tolerance stance on financial misconduct and abuse of authority, particularly at senior management level. The company noted that safeguarding institutional integrity and maintaining robust internal controls remain central to its operations.

The statement also clarified that CIG Motors will not engage in further public commentary on the matter, stressing that it is now before the relevant authorities. The company added that operational continuity across the business remains unaffected.

The development aligns with a broader trend seen across Nigeria’s corporate and financial landscape in recent months, where several organisations have taken decisive action against senior executives following internal probes, regulatory breaches, or governance failures.

 Analysts note that such actions signal growing pressure on corporate boards to strengthen oversight, enforce accountability, and demonstrate compliance with governance best practices.

CIG Motors reiterated its commitment to the highest standards of corporate governance, accountability, and transparency, assuring stakeholders that appropriate measures are in place to protect the company’s long-term stability and reputation.

Gov.Mbah Extols Sacrifices Of Ex-Servicemen

Mbah extols sacrifices of ex-servicemen, canvasses sustainable support for  Nigerian Legion |By Larry Nwaiwu
Governor of Enugu State, Dr. Peter Mbah, has extolled the sacrifices of Nigeria’s ex-servicemen and fallen heroes for the safety of citizens and the nation’s territorial integrity.
Mbah gave the commendation during the official unveiling and launch of the 2026 Armed Forces Remembrance Day emblem held at the Michael Okpara Square, Enugu, on Tuesday.
But beyond the yearly emblem launch, the governor, who was represented by the Deputy Governor, Barr. Ifeanyi Ossai, advocated a better structured and more sustainable means of ensuring a better welfare for the Nigerian Legion.
“It is important that we express to you how we feel about your selfless sacrifices, secure our democracy, strengthen our ability and above all protect our integrity – ensuring that each and everyone of us is able to explore and exploit our God given talents. So, on behalf of the people of Enugu State, I must say that we are very grateful to you.
“While veterans’ day, as this when we commemorate the service and make contributions to support you, I think a sustainable relationship through a structure that is organised will make more meaning. So, struggle to put together a programme, engage our office, the government, develop a protocol of engagement on how we can work with you to make things right, meaningfully and sustainably, for those that served.
“Again, we are a government that has embarked on aggressive efforts to rebuild Enugu State and expand opportunities for those who live here. In a state where we assemble 800 tractors for agriculture, where we are building farm estate in every political ward, where we are expanding our road infrastructure, constructing 260 Smart Schools, 260 Type-2 Primary Healthcare Centres, I am sure, if you look inward and develop an engagement protocol, we will be able to develop a partnership that will be sustainable and beneficial to you and to us as a people.
“So, today is not much about the donations only, but it is about the acknowledgement of the sacrifices that the veterans made – sacrifices rooted in the personal willingness to lay their lives for the rest of us,” he stated.
Speaking earlier, the Deputy Commandant General and Enugu State Chairman, Nigerian Legion, Dr Emeka Norman Igwesi, thanked the governor for the support given to the living and fallen heroes both for their welfare and programmes.
“Your government has been giving us support and we are actually asking them to do more to support the fallen heroes’ project the more they can and also support the project of the living heroes, not necessarily by way of cash, but by introducing programmes and policies that will help the welfare of the military retirees and fallen heroes’ dependants and widows.
Dr. Emeka Igwesi, who is also the National Coordinating Commandant, Nigerian Legion Corps of Commissionaires, regretted that many of promises made to the veterans by individuals and corporate organisations during emblem launch and Armed Forces Remembrance Day were usually not fulfilled.
“Yearly, we gather here to be part of this emblem launch. Some climb this hallowed podium, addressing Nigerians, make pledges and promises, and end up not redeeming them. It is very unfortunate,” he said.
He, however, commended Mbah for always living up to his words and for the good governance of Enugu State, which also benefits the ex-servicemen and their families.
He also pushed for a better utilisation of the skills and experience of the ex-servicemen by government, stating that while they were retired, many of them were not tired yet.
“But we express our profound felicitation and strong support for the governor, for the good works he is doing in the state. You will agree with the military ex-servicemen that Enugu state is fast becoming a modern state.
“Again, military veterans are highly disciplined and experienced persons. Many are still strong to contribute to the development of the state. The body also has its sub-body called Corps of Commissionaires, who are well trained and young and ready to serve, so we call on the state government to make effective use of the retired military men and our members of the Corps of Commissionaires,” he said.
He also highlighted other needs such as security vehicles, monthly subvention, offering scholarships to indigent children and orphans of both fallen and living heroes, and empowering widows of servicemen, which he appealed to the governor to look into.
FirstHoldCo Confirms FirstBank’s Compliance With N500 Billion Regulatory Capital

By Winifred Bosa

Shareholders commit to future injection of more capital to the Groups’ other subsidiaries

First HoldCo Plc (“FirstHoldCo” or “the Group”) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion.

 This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.

This successful capitalisation underscores strong market confidence in FirstHoldCo Group’s business model, long-term strategy, and growth prospects. With a fortified capital base, FirstBank is positioned to accelerate its support for the real sector, enhance financial inclusion, and deliver innovative, digitally driven customer experiences.

The recapitalisation strengthens the Group’s overall financial resilience, providing a robust platform for earnings growth through business expansion, technological innovation, and the pursuit of new opportunities.

In March 2024, the CBN directed commercial banks to raise their capital base to a minimum of ₦500 billion within a 24-month period to bolster the Nigerian banking sector’s stability and capacity. FirstBank has now fulfilled this requirement well ahead of the regulatory deadline.

In a related development, FirstHoldCo have expressed its desire to raise fresh funding and inject additional capital into the Group’s existing subsidiaries and new business adjacencies in 2026. This forward-looking commitment is aimed at further enhancing service offerings and facilitating strategic expansion.

Commenting on the achievement, Mr. Femi Otedola, CON, Chairman of First HoldCo Plc, said:

“On behalf of the Board, I extend our profound gratitude to our shareholders for their trust and unwavering support throughout this capitalisation programme. From the oversubscribed Rights Issue to the seamless Private Placement, investors have demonstrated resounding confidence in our strategic direction. Securing FirstBank’s capital base ahead of schedule is a testament to our collective commitment and positions us firmly for our next growth phase. We also appreciate the professional guidance of the CBN and SEC throughout this process.”

Mr. Wale Oyedeji, Group Managing Director of First HoldCo Plc, added:

“This successful capital raise is a pivotal milestone for FirstHoldCo. It provides us with the financial strength to execute our core strategic priorities: driving innovation, delivering superior customer value, and enhancing sustainable profitability. With this solid foundation, we are focused on accelerating performance, improving competitive returns, and delivering lasting value to all our stakeholders.”

Savannah Appoints Kehinde Olamide Ogunwumiju As Non-Executive Director

By Winifred Bosa

Further to its announcement on 9 October 2025 of the intended appointments of two Nigerians to its board, Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, has  confirmed the appointment of Kehinde Olamide Ogunwumiju as a Non-Executive Director with immediate effect.

Commenting on the appointment, Joseph Pagop Noupoué, Non-Executive Chair of Savannah, said:
“I am delighted to welcome Kehinde to the Board. He is an internationally respected legal professional with a proven track record of supporting dynamic, high growth organisations such as Savannah. I believe his expertise will be instrumental as the Company continues to execute its growth strategy across Africa.”
Kehinde Olamide Ogunwumiju commented:
“I am pleased to be joining Savannah at this important stage in its growth and look forward to applying my experience in this role. I am excited to work with the Board and executive management team as the Company pursues its ambitious and wide-ranging objectives.”

Biography – Kehinde Olamide Ogunwumiju O.F.R., S.A.N., FCIArb. (U.K.)

Kehinde is the Managing Partner at Afe Babalola & Co, a leading African law firm. Since his appointment in 2017, and continuing to date, he has remained one of the youngest Senior Advocates of Nigeria (“SAN”), the Nigerian equivalent of a King’s Counsel, ever appointed. His practice has seen him successfully represent the Nigerian National Petroleum Corporation in over 100 disputes and the Federal Republic of Nigeria in multiple international disputes, including against a near US$5 billion claim at the International Centre for the Settlement of Investment Disputes (“ICSID”) in Washington DC. He has worked on many Nigerian and international arbitrations.

Kehinde received the prestigious Officer of the Order of the Federal Republic (“OFR”) as part of the National Honours List from the President of the Federal Republic of Nigeria in 2023. He is a Fellow of the Chartered Institute of Arbitrators (CIArb) UK, a member of the Nigerian Bar Association, the Chartered Insurance Institute of Nigeria (“CIIN”), the International Bar Association and the Abuja Chamber of Commerce, Industry, Mines & Agriculture, and is an associate of the Institute of Chartered Secretaries and Administrators of Nigeria (“ICSAN”), the professional body for corporate governance practitioners in Nigeria.

Kehinde began his legal education at the University of Ibadan, where he earned his LL.B with Honours.  He continued his studies at the Nigerian Law School, obtaining his B.L. in 2005, and then pursued an LL.M. in International Commercial Law at the University of Northumbria at Newcastle-Upon-Tyne, England, in 2007.

Regulatory disclosures (in accordance with Rule 17 and Schedule two paragraph (g) of the AIM Rules) are as set out below:
Kehinde Olamide Ogunwumiju (aged 43) holds or has held the following directorships or partnerships in the past five years:
Current Directorships/Partnerships
Past Directorships/Partnerships
Abuad Management Company Ltd
N/A
Adga Investment Nig Ltd
Afe Babalola & Co.
Bita Exploration and Production Limited
Curlew Express Limited
Dekra International Services Limited
Doxology Oil Services Ltd
Doxology Oil Trading and Logistics Ltd
Enerymix Nigeria Ltd.
Kwaliteit Frieden Energy Resources Ltd
Lumen Energy Limited
Septagon Bros Limited
Strasbourg Shore Nig Ltd
Tee’s Mums and Kids Limited
He has no shareholding in the Company.

SAHCO Reaffirms Commitment To Operational Excellence, Ethics In Action, Innovation And Sustainable Growth In 2026

Skyway Aviation Handling Company (SAHCO) Plc has reaffirmed the company’s commitment to operational excellence, ethics in action, innovation, and sustainable growth as it reflects on a successful 2025 and outlines its strategic priorities for 2026 and beyond.
In a New Year message issued on behalf of the Chairman, Board of Directors, and Executive Management, the company expressed appreciation to its customers for their continued patronage and trust throughout 2025, noting that customer partnership remains central to SAHCO’s existence and long-term success.
Management stated that the company would continue to listen closely to customers, deliver excellent service, and consistently exceed expectations in the years ahead.
SAHCO also acknowledged the support of stakeholders and partner governmental agencies, stating that their collaboration played a critical role in enabling the company to serve customers more effectively and achieve shared objectives.
Commenting on internal achievements, the company praised the dedication and professionalism of its staff nationwide, attributing key operational milestones in 2025 to their teamwork and commitment. These milestones included the successful renewal of the IATA Safety Audit for Ground Operations (ISAGO) certifications. SAHCO further confirmed that its Regulated Agent (RA3) certification remains valid until 2027, while its Institute of Safety Professionals of Nigeria (ISPON) and Quality Management System (QMS) certifications were renewed in 2025.
The company disclosed that its Training School Authorization was also renewed and that plans are underway to expand the school and enhance curriculum offerings in 2026 in line with global best practices.
SAHCO announced that several new airline customers were onboarded in 2025, including Ethiopian Airlines, Air Tanzania, Air Algérie as well as ValueJet Airlines and United Nigeria Airlines’ regional routes alongside their existing domestic routes, in addition to Pioneer Airlines, Binani Airlines, ExeJet/Enugu Air, and Air Peace on its Antigua and Barbados operations.
The company further revealed that its performance in 2025 earned it multiple industry recognitions, including the FAAN Safety Excellence Award, the Aircraft Handling Service Achievement Award from NIGAV, Aviation Service Provider of the Year from the Nigerian Institute of Transport Technology, Best Ground Support Service Company of the Year at the Nigeria International Air Show, and GSE Certification of Recognition from IATA. In addition, British Airways recognized SAHCO’s Abuja Station with a Bronze Award and its Lagos Station with a Gold Award for Punctuality and Safety across the Middle East, Africa, and Asia Pacific regions.
In line with its sustainability agenda, SAHCO stated that it commenced the phased replacement of ageing equipment with eco-friendly alternatives in 2025 and would continue the initiative in 2026 while maintaining full environmental and sustainability compliance across its facilities.
Looking ahead, SAHCO disclosed that its 2026 strategy will focus on operational excellence, revenue growth, and business expansion. Key initiatives include expanding cargo offerings, strengthening partnerships with state airports, pursuing new certifications, deepening engagement with local, regional, and international airline partners, and enhancing customer engagement strategies and diversifications into new business lines across the Aviation value chain.
The company explained that these priorities are anchored on its “4Ps Strategy” for 2026—People, Process, Performance, and Platform. According to management, the strategy is designed to build a highly skilled, safety-driven workforce, standardize and enforce operating procedures, leverage data-driven analytics to improve performance and revenue, and develop an integrated digital and operational platform that connects people, processes, equipment, and data.
The company reaffirmed that as it steps into 2026, it remains focused on reimagining excellence with ethics at the core, innovation in action, and adaptation for sustainable success.
SAHCO wishes all Stakeholders and Partners a Happy, Prosperous and Healthy New Year.
Reverend Emmanuel Okeke Advises Christians to Discern True Calling of God

By Chikaodi Chukwuleta 
Reverend Emmanuel Okeke, Founder of WatchTower Prayer Network Awka, Anambra State, has advised Christians to know the true calling of God.
 Speaking during the coronation of his father, Ozo Obunakueze, at Nibo, Anambra State, he emphasized the importance of discerning genuine ministers.
According to him, many people have portrayed a bad image of the calling of God, leading to criticism of men of God, with some thinking they are after people’s money.
He narrated his experience, saying
he was called to ministry through constant dreams, visions, and revelations, despite being involved in various businesses, including farming and filling stations.
“Many have the mindset that everyone going into ministry is because of finance, but it’s not true,” he said. “There has been a heavy burden, constant dreams, visions, and encounters that made me know God is setting me apart for a particular thing.”
Reverend Okeke encouraged Christians to have the spirit of discernment to identify those truly called by God, as many pretend to serve God but are “wolves in sheep’s clothing”. He noted that different assignments are given by God, and it’s our responsibility to know our calling, citing examples such as evangelists, apostles, prophets, and teachers.
He also admonished people to allow God to transform them, affecting their speech, dress, and behavior, saying, “The reason people behave anyhow is that they have not allowed the Holy Ghost to work in them.”
During the coronation ceremony, Reverend Okeke honored his father, saying, “I’m not a big fan of certain traditions, however, I’m honoring my father today on his coronation with Ozo title, I own him a respect to be present with love.”
Police Smash Child Trafficking Syndicate in Aguleri, Recover 33 Girls.

The Anambra State Police command  has made a significant breakthrough in their ongoing investigation into child trafficking, arresting a 37-year-old female suspect, Ifeoma Success Anthony, and rescuing 33 underage girls from a house in Awkuzu. The operation was triggered by a distress report from relatives of three abducted girls, who were taken from Ebonyi State in September 2025.
Preliminary investigations suggest the building was used for child trafficking and prostitution, owned by Mrs. Ngozi Nnanyelugo, who’s currently at large. The police are working to apprehend her and identify other accomplices.
This recent bust follows a similar operation in July 2025, where 11 children were rescued from an interstate child trafficking syndicate operating between Adamawa and Anambra states.