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AfDB: Adesina Begins Second Term September 1

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By Mathew Dadiya, Abuja

President of the African Development Bank, Dr. Akinwumi Adesina has been re-elected to serve a second five-year term with a 100 per cent votes of all regional and non-regional members of the Bank. Adesina will begin his second term on September 1.

The Chairperson of the Board of Governors of the Bank, Mrs.

Niale Kaba, announced this after the election conducted virtually on Thursday.

There was jubilation on Thursday during the National Council of State meeting, which was attended by former Heads of state, Senate President, former Chief Justices of Nigeria, Governors, Ministers, and senior government official as the news filtered in of the re-election of the President of African Development Bank (AfDB), Akinwunmi Adeshina for a second term.

On behalf of the Federal Government and entire people of Nigeria, President Muhammadu Buhari felicitated with Adesina, on his re-election for a second term in office.

Adesina was first elected president of the Bank on May 28, 2015 and will begin his new term of another five years on September 1.

Kaba said she was delighted that the Board of Governors had re-elected Adesina for a second term in office.

“As shareholders, we strongly support the Bank and we will give him all the necessary support to carry forward and implement his compelling vision for the Bank over the next five years,” she said.

Adesina’s first term focused on a bold new agenda for the Bank Group based on five development priorities known as the High 5s.

These include “Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa.”

DAILY ASSET recalls that the AfDB President had, on Wednesday, said that the Bank achieved impactful results on the lives of 335 million Africans, including 18 million people with access to electricity, while 141 million people benefited from improved agricultural technologies for food security.

According to him, 15 million people had access to finance from private investments, 101 million people provided with access to improved transport and 60 million people gained access to water and sanitation.

The Bank has maintained its AAA-ratings by all major global credit rating agencies for five years in a row, while the Board of Governors of the Bank Group approved a 125 per cent increase in the General Capital of the Bank.

The capital rose from $93bn to $208bn, the largest in the history of the Bank. Adesina thanked both regional and none regional members for giving him a 100 per cent vote, thereby making history as the first president of AfDB to be so elected.

Secretary to Government of the Federation, Mr Boss Mustapha, broke the good news and President Buhari led a round of applause to in honour of Adesina.

“He deserves it and Nigeria and Africa are honoured by the victory which is a testimony to his hard work and commit to the development of the continent” Buhari said.

The President extended appreciation to the African Union for its endorsement of the AfDB President much earlier, and to shareholders of the bank and the international community as a whole who worked tirelessly to ensure the return of the visionary leader.

“President Buhari believes Dr Adesina’s versatility, experience at both national and international engagements, will be further deployed to energize the pan-African financial institution, urging him to remain focused and steadfast in pursuing the noble goals of making life better for Africans through various development plans, already captured as High 5s.

The President rejoices with family, friends and professional colleagues of Adesina over the re-election, while commending members of staff and Board of Governors of the AfDB for their consistent support for the former Nigerian Minister of Agriculture and Rural Development, and his management team,” Mustapha stated.

While pledging full support of his government to ensure a successful tenure for the AfDB leadership, President Buhari prayed that the Almighty God will continue to strengthen Adesina and his team for greater good to the continent.


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Zenith Bank Upgrades Infrastructure, Assures of Exceptional Service

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By David Torough, Abuja

Zenith Bank Plc has assured its teeming customers of exceptional service delivery and improved customer experience following the successful completion of its Information Technology Infrastructure Upgrade.

The Group Managing Director/Chief Executive of the bank, Dr.

Adaora Umeoji in a statement expressed her immense gratitude to all customers of the bank for their patience and support during its recent IT infrastructure migration to a new and more robust operating system.

Umeoji emphasized that the bank was committed to delivering unparalleled service experience, saying “We undertook such an extensive endeavor in other to better position Zenith Bank Plc for improved service delivery to all our valued customers and provide memorable banking experiences at all our touchpoints,” adding that the bank now has one of the best technology infrastructure in the Nigerian banking industry, and is well positioned to ensure customers experience exceptional service delivery going forward.

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.

The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

The bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 15th consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria 2023 and 2024 in the International Banker Banking Awards.

Further recognitions include being recognised as Best Bank in Nigeria for the fourth time in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for three consecutive years, from 2022 to 2024, ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021; Bank of the Year for 2023 and 2024, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best

Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards, Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

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 Lagbaja’s Death Casts Pall over Presidency, Security Agencies

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By David Torough, Abuja

The death of the Chief of Army Staff (COAS), Lt. General Taoreed Lagbaja has thrown the nation into mourning, casting a heavy pall over official functions at the Presidency and the security services.

The Presidency yesterday announced Lagbaja’s death following what many attributed to his protracted battle with cancer.

A statement by presidential spokesman, Bayo Onanuga, said Lagbaja, 56, died on Tuesday night in Lagos, “after a period of illness”

“President Bola Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time.

He wishes Lt. General Lagbaja eternal peace and honours his significant contributions to the nation,” the statement read.

According to the statement, Lagbaja, who was appointed Chief of Army Staff on June 19, 2023, demonstrated exceptional leadership and commitment throughout his service.

He had previously served as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion among other sensitive positions.

Incidentally, President Tinubu had, last weekend Wednesday, appointed Major General Olufemi Oluyede as the acting Chief of Army Staff, to stand in for Lagbaja who had been away on medical treatment.

The President had, last Tuesday, gone ahead to decorate Oluyede as Lieutenant General, deepening speculations that Lagbaja was not being expected back anytime soon.

Following the death of the late COAS, the Presidency postponed the weekly Federal Executive Council (FEC) meeting scheduled for yesterday in honour of the fallen COAS.

The President also directed that Nigeria’s national flags be flown at half-mast across the country for seven days.

The Ministry of Defence (MOD) was also caught in the sombre atmosphere. A joint statement mourning the demise of the COAS was issued by Minister of Defence, Mohammed Abubakar; Minister of State for Defence, Bello Matawalle; and the ministry’s Permanent Secretary, Ibrahim Kana.

The MOD expressed shock over the sad news recalling Lagbaja’s contribution to the Army and his dedication to duty.

The statement said, “He exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed in no small measure to the internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military and the nation as he served the nation with commitment and dedication.”

Similarly, there was palpable grief at the Defence Headquarters over the loss with the leadership expressing deep sorrow of the development.

It noted that the COAS, until his death, demonstrated exemplary leadership. He was credited with spearheading the establishment of the Nigerian Army Aviation Wing and also playing critical roles in multiple military operations across the country.

On its part, the Nigeria Police Force announced the cancellation of all non-essential personal and social engagements for two days. The Force also suspended non-urgent commitments in honour of the late COAS.

In a statement by Force spokesman, Olumuyiwa Adejobi, the police authorities described Lagbaja as a highly respected figure, known for his tireless efforts in combating insurgency, armed banditry, and violent extremism.

“His dedication to the Nigerian Army and the nation earned him great admiration. The Inspector-General’s gesture reflects the deep respect and appreciation for General Lagbaja’s remarkable service.

“The Nigeria Police Force extends its heartfelt condolences to Mr President and Commander-in-Chief of the Armed Forces of Nigeria, President Bola Ahmed Tinubu, and General Lagbaja’s family, colleagues, and loved ones during this difficult time. His legacy and commitment to Nigeria’s security will never be forgotten,” the statement said.

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Tinubu, Atiku Hail Trump as Harris Concedes Defeat

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President Bola Tinubu and Alhaji Atiku Abubakar yesterday joined other leaders across the globe in congratulating America’s  President-elect, Donald Trump.

The world leaders sent their congratulatory messages hours before Vice President Kamala Harris conceded defeat to Trump.

Tinubu expressed his eagerness to strengthen the ties between Nigeria and the United States amid the complex challenges and opportunities of the contemporary world.

The Nigerian President’s message was conveyed through a statement yesterday by his spokesman, Bayo Onanuga.

Tinubu said, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.

According to him, Trump’s victory reflects the trust and confidence the American people have placed in his leadership.

The Nigerian leader congratulated the American electorate on their commitment to democracy.

“President Tinubu believes that, given President Trump’s experience as the 45th President of the United States from 2017 to 2021, his return to the White House as the 47th President will usher in an era of earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States,” the statement said.

Tinubu also acknowledged the United States’ influence, power, and position in determining the trend and course of global events, trusting that President Trump will bring the world closer to peace and prosperity.

Atiku, in his message, described Trump’s victory as “a lesson in the art of rising after every fall,” apparently seeing possibilities of his own victory in future elections amid a string of past losses.

Atiku, who contested in the 2023 presidential election on the platform of the Peoples Democratic Party (PDP), lost to Tinubu and his All Progressives Congress (APC).
He has recorded a string of losses in previous election cycles on different political party platforms.

Atiku commended the process that led to the outcome of the US presidential election, hailing the American citizens for their unwavering faith in the power of democracy and the sanctity of the ballot.

He appealed to Trump to stand resolute in ensuring free and fair elections in Nigeria and the world in general.

“I closely followed the presidential election in the United States of America, watching with bated breath as the nation decided its future.

“It is with even greater satisfaction that I now reflect on the result, which heralds a resounding victory for President Donald J. Trump and the Republican Party.

“This triumph, without a doubt, will stand as an enduring testament to the resilience and vitality of the democratic process – a timeless reminder that democracy, with all its trials and tribulations, remains a force for good in the world.

“The narrative of President Trump’s political journey, marked by his struggles and triumphs, shall serve as an inspiring parable of courage in the face of adversity — a lesson in the art of rising after every fall, and ultimately, emerging victorious.

“As the world rejoices in the euphoria of his remarkable comeback, it is to be hoped that President Trump will continue his resolute advocacy for credible elections worldwide and remain steadfast in dismantling anti-democratic forces wherever they may lurk.

“The lesson for us in Nigeria is the integrity of the process that ensures a credible outcome. It is the expectation of every Nigerian that the Trump administration will stand resolute in ensuring free and fair elections in Nigeria and other places in the world.

“I also extend my warm congratulations to the people of the United States, whose unwavering faith in the power of democracy and the sanctity of the ballot has once again shown the world the true might of the people’s voice”, he said.

Meanwhile the US Vice President, Kamala Harris, has called Trump to congratulate him on winning the presidential election.

Associated Press (AP) report quoted a campaign aide of Harris’ as having had a discussion with Trump on the  importance of a peaceful transfer of power and being a president for all Americans.

Harris was billed to make a public concession speech later Wednesday night, which would be her first appearance since she lost the election to Trump.

Further report said she would be delivering her speech at Howard University, Washington DC.

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