Nigeria News (Standard)
Otedola Acquires ₦29.6bn Shares in First HoldCo, Raises Stake to 20.4%
Acquisition cements billionaire’s position as largest individual shareholder amid renewed interest in banking sector
Acquisition cements billionaire’s position as largest individual shareholder amid renewed interest in banking sector
Nigerian businessman Femi Otedola has acquired additional shares worth ₦29.6 billion in First Bank Holdings Plc, pushing his total stake in the financial institution to 20.4%. The transaction, which took place this week in Lagos, makes Otedola the single largest individual shareholder in First HoldCo, a leading player in the country’s banking sector.
The acquisition unfolded as Otedola increased his shareholding through a series of transactions on the Nigerian Exchange, raising his influence over the company’s strategic direction. Market analysts observed that this move is likely to impact corporate governance and future board decisions at the bank.
Otedola’s growing stake comes at a time of heightened activity within Nigeria’s financial services industry, with investors closely watching developments at major banks amid changing regulatory requirements and economic pressures. First HoldCo is one of Nigeria’s oldest and most prominent banking institutions, and recent changes in its ownership structure have drawn significant attention from stakeholders.
Neither Otedola nor representatives from First HoldCo have issued official statements regarding the acquisition as at Friday. However, market watchers say the development signals renewed confidence by local investors in Nigerian banks despite prevailing macroeconomic challenges.
Industry experts expect that Otedola’s increased shareholding could influence future board appointments and business strategy at First HoldCo. The bank is expected to brief shareholders on any implications for governance or operational direction during its next scheduled meeting.
Nigeria News (Standard)
Abuja Court Sentences Three Boko Haram Members to Death, Jails Two for Life in Mass Terrorism Trial
Federal High Court delivers landmark verdict as government intensifies prosecution of over 500 suspected terrorists nationwide
Federal High Court delivers landmark verdict as government intensifies prosecution of over 500 suspected terrorists nationwide
Three Boko Haram members have been sentenced to death by hanging, while two others received life imprisonment by the Federal High Court in Abuja on Wednesday, as part of the Federal Government’s ongoing mass trial of terrorism suspects. The verdicts were delivered by Justices James Omotosho and Salim Ibrahim after the convicts pleaded guilty to terrorism-related charges.
According to court proceedings, Danladi Lawal, also known as Dankawu, was sentenced to death after admitting to multiple terrorism offences. Justice Omotosho imposed additional prison terms and life sentences for other charges against Lawal. In a separate judgment, Justice Salim Ibrahim handed death sentences to Abdullahi Mohammed and Mohammed Gulama Shaibu upon their guilty pleas. Two other convicts received life sentences for their roles in terrorist activities linked to Boko Haram.
The convictions come amid the resumption of Nigeria’s mass trial programme targeting more than 500 suspected Boko Haram members and affiliates in the Federal Capital Territory. The initiative, coordinated by the Office of the Attorney-General of the Federation, is designed to clear a backlog of cases involving individuals detained during years of military operations against insurgents in the North-East and other regions. Government officials describe these trials as crucial for accountability and deterrence in Nigeria’s counter-terrorism strategy.
Minister of Justice Lateef Fagbemi (SAN), speaking through a written statement on Wednesday, said: “These convictions demonstrate our commitment to ensuring that those who have caused suffering across communities are brought to justice within the ambit of Nigerian law.” Human rights groups have welcomed the progress but urged authorities to ensure fair trial standards for all suspects.
Security analysts note that while military action has degraded Boko Haram’s capabilities over time, prosecuting key operatives remains vital for long-term stability. The next phase of trials is expected in coming weeks, with hundreds more awaiting verdicts as government seeks closure for victims and affected communities across Borno, Yobe, Adamawa and beyond.
Nigeria News (Standard)
FG Approves New York, Dubai, Canada Routes for United Nigeria Airlines, Says Keyamo
Aviation minister announces new international licences for Nigerian carrier, highlighting drive to expand sector and boost forex earnings
Aviation minister announces new international licences for Nigerian carrier, highlighting drive to expand sector and boost forex earnings
The federal government has granted United Nigeria Airlines approval to operate flights on three new international routes—New York, Dubai, and Canada. This announcement was made by Minister of Aviation and Aerospace Development, Festus Keyamo, during a briefing in Abuja on Friday, 19 June 2026.
According to Keyamo, the move is part of government’s effort to promote indigenous airlines and enhance Nigeria’s connectivity with key global destinations. He stated that the approval followed a thorough review of United Nigeria Airlines’ application and compliance with regulatory requirements set by the Nigerian Civil Aviation Authority (NCAA). “We are committed to supporting local airlines as they seek expansion beyond Africa,” Keyamo said.
The development is expected to open up new business opportunities and improve access for Nigerians seeking to travel for education, commerce or tourism. The aviation sector has faced challenges in recent years due to limited foreign exchange access and rising operational costs. Industry observers say the approval of these high-demand international routes could help United Nigeria Airlines boost its revenue profile while reducing reliance on foreign carriers.
Keyamo added that government would continue to ensure a level playing field for all operators in line with global best practices. He urged the airline to maintain safety standards and quality service as it prepares to launch operations on the newly approved routes. As at press time, United Nigeria Airlines had not announced specific commencement dates for flights to New York, Dubai or Canada.
The minister emphasised that government will monitor implementation closely and provide necessary support through relevant agencies. Stakeholders in the aviation industry have welcomed the decision as a step towards strengthening Nigeria’s presence in international air travel.
Nigeria News (Standard)
Oluwaseyi Features as Canada Defeats Qatar in Record FIFA World Cup Victory
Canadian team sets new World Cup record with emphatic win; Nigerian-born Oluwaseyi makes tournament history
Canadian team sets new World Cup record with emphatic win; Nigerian-born Oluwaseyi makes tournament history
Canada achieved a milestone at the ongoing FIFA World Cup on Friday, June 19, 2026, by defeating Qatar in a record-setting match that saw Nigerian-born forward, Oluwaseyi, take part in the historic victory. The encounter, which took place at an international venue, marks Canada’s most decisive win in World Cup history.
The Canadian squad dominated proceedings from the opening whistle, overwhelming their Qatari opponents with a commanding display that broke previous team records for margin of victory at the global tournament. Oluwaseyi, who has roots in Nigeria, contributed to the team’s performance as Canada secured its place in World Cup history.
This result is significant for Canadian football, which has struggled to make a strong impression on the world stage in past tournaments. For many Nigerians and members of the diaspora community, Oluwaseyi’s involvement highlights the growing impact of players with Nigerian heritage on international football.
Officials from the Canadian Football Association described the match as a turning point for their national team. No official statement was available from Qatari representatives at press time. Analysts say the victory could boost morale and raise expectations for Canada ahead of their next fixtures.
With this result, Canada now looks forward to building on their momentum as they progress further in the competition. Football enthusiasts across Nigeria and beyond will be watching closely as Oluwaseyi and his teammates aim for more historic achievements on football’s biggest stage.
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