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Fidelity Bank: CBN dismisses panic reports, affirms banking sector stability 

THE Central Bank of Nigeria (CBN) has reassured the public that the banking sector is stable and that depositors’ funds are safe, contrary to certain publications and social media reports on Fidelity Bank Plc’s bankruptcy.

The apex bank reaffirmed this in a statement issued late Monday, May 19, by its acting director of corporate communications, Hakama Sidi Ali.

CBN reassurance came following reports claiming that Fidelity Bank is facing financial bankruptcy which the bank said were misleading and unfounded, assuring its customers and stakeholders of its strong financial position

In its position as the apex regulator, CBN further reassured that the banking sector remains stable.

It stated, “The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.

“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the
Nigerian banking sector remains resilient, safe, and sound.”

It maintained that, like all other regulated institutions, the bank referenced in the reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.

It assured to continue to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision.

It stressed that the mechanisms help to ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.

“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.

“The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system,” CBN added.

Fidelity Bank refutes report on bankruptcy, clarifies court judgment

Similarly, Fidelity Bank  also refuted the claims in a statement on Monday, May 19.

It stated, “We would like to address recent misleading reports regarding a court judgment involving the defunct FSB International Bank, which have wrongly suggested that Fidelity Bank is facing bankruptcy.”

“These claims are unfounded, and we want to assure our customers, investors, and the public that Fidelity Bank remains financially strong, profitable, and fully capable of meeting all its obligations.”

According to the bank, the issue stems from a legacy transaction from 2002 in which FSB International Bank provided a loan to G. Cappa Plc.

Noting that the case has undergone extensive legal processes, the bank said it is currently seeking clarification on the judgment to ensure that the financial implications are correctly understood.

“We take these malicious reports seriously and are committed to protecting our bank’s reputation and the interests of our stakeholders.

“Rest assured, Fidelity Bank continues to operate as one of Nigeria’s most capitalized financial institutions, with no risk of bankruptcy,” the bank maintained.

The ICIR can report that Fidelity Bank recorded a positive financial position in the first quarter of the year.

A cursory look at its financial statements shows that the bank posted a total equity of N933.14 billion, as total assets of N10.45 trillion were higher than total liabilities of N9.52 trillion.

The bank also posted a positive financial performance as its profit after tax rose by 189.75 per cent to N91.101 billion in March 2025 from N31.44 billion in March 2024.

The first quarter 2025 financial results demonstrate our robust position, the bank stressed.

“We remain focused on our core values and are fully dedicated to supporting our customers and communities,” it added.

Nigerian Reps approve 10-year security for journalist who exposed fake degrees in Benin Republic

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THE House of Representatives on Monday, May 19, ordered 10-year protection for investigative journalist Umar Audu, whose undercover report exposed the sale of fake degrees from universities in the Benin Republic to Nigerians.

The directive was issued by the House Joint Committees on University, Polytechnic, Interior, Foreign Affairs, and Youth Development, which is currently probing the scandal, according to the News Agency of Nigeria.

Recall that Audu’s investigation uncovered a network of degree mills through which Nigerians obtain fraudulent academic certificates, some of which are subsequently validated by Nigerian government agencies, including the Federal Ministry of Education.

The reporter revealed how beneficiaries of these substandard certificates compete for jobs and other opportunities with hard-working graduates who undergo academic rigours for at least four years to obtain their degrees.   

It also reported that the requirements for the fake degree are O-level certificates – fake or genuine – and money, which vary depending on the course, urgency and class of degree.

Having met with an agent, the reporter obtained the certificate and transcript of Ecole Supérieure de Gestion et de Technologies, ESGT, Cotonou, Benin Republic, on February 17, 2023.

This was after the reporter paid the required amount, including tuition fees for the duration.

Speaking on the latest development, the committee chairman, Abubakar Fulata, announced the development and called on the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC) to ensure Audu’s safety.

“We are grateful to Audu for his courage. We urge the Minister of Interior to ensure that the Civil Defence provides the required support alongside the police,” Fulata said.

During his appearance before the committee, Audu also narrated how he secured a degree from a Benin Republic university without attending classes and later had the certificate officially cleared by the Ministry of Education after paying a N40,000 fee.

Also, in response, the Minister of Interior, Dr. Olubunmi Tunji-Ojo, proposed the creation of a centralised automated verification system to prevent such fraudulent activities in the future.

“Such an error did not occur under this administration. However, a unified, automated portal is essential to curb this menace,” Tunji-Ojo said.

Representing the Minister of Education, Mr. Olatunji Alausa, a director in the ministry, Larai Ahmed, said the department responsible for the certificate clearance had been overhauled and that more stringent measures were in place.

The ICIR reported that following the investigation, the Federal Government shut down 18 foreign universities in Nigeria. The government labelled the affected institutions as “degree mills,’’ noting that it had not licensed them to operate in the country.

The National Universities Commission (NUC), in a statement published on its website on Tuesday, January 2, 2024, stated that the affected universities had been closed down.

The development also came a few hours after the Ministry of Education suspended the evaluation and accreditation for university degrees in the Republic of Benin and Togo.

Lagos police arrest officer for assaulting Uber driver in viral video

THE Lagos State Police Command has arrested Obic Modestus, a police officer caught on video violently assaulting an Uber driver.

The incident came to light after a video, shared by X user Oyindamola (@dammiedammie35), went viral, showing the officer repeatedly beating the driver. 

In the post accompanying the video, Oyindamola wrote, “A new video of Nigerian police men violently assault!ng an Uber driver. Please spread this video cos this is someone’s father they’re beating!ng like an animal like this.”

Although The ICIR couldn’t confirm the exact cause of the incident, the video showed how the police officer was slapping, manhandling and beating the driver.

He subsequently dragged the driver into the police vehicle despite some of his colleagues calming him down.

The disturbing footage sparked widespread outrage on social media, with many users calling for the officer to be held accountable.

They also lamented the incessant harassment meted out on citizens by the police officers across the country.

Reacting to the viral video on Monday, May 19, the spokesperson for the Lagos State Police Command, CSP Benjamin Hundeyin, confirmed that the officer had been apprehended. 

Hundeyin assured the public that the command was committed to maintaining professional conduct among its officers and would take necessary disciplinary action against any form of misconduct.

“The Police Officer, Inspector Obic Modestus, has been summoned by the Complaint Response Unit (CRU) #LagosPoliceNG. He will be handed over to the Provost Department for appropriate disciplinary measures.

“The Lagos State Police Command, under CP Olohundare Jimoh, will not condone any form of incivility to members of the public,” he said.

This incident adds to a series of reported cases of police misconduct in Nigeria, highlighting ongoing concerns about law enforcement accountability. 

Despite the disbandment of the Special Anti-Robbery Squad (SARS) in 2020 following the #EndSARS protests, reports of police brutality have persisted.

The latest incident came barely two weeks after The ICIR published a detailed investigation of police brutality in Kwara State. The report highlighted how the killings of Quoyum Ishola, allegedly by police officers in the state, added to a disturbing trend of young men in Kwara, particularly those perceived as successful or ‘flashy,’ increasingly targeted by law enforcement officers.

This latest incident has further reignited fears around police brutality in Nigeria, with citizens expressing frustration over repeated cases of law enforcement officers using excessive force on them. 

Trump to call Putin to end ‘bloodbath’ in Ukraine

UNITED States President Donald Trump is scheduled to speak with Russian President Vladimir Putin on Monday, May 19, on the need to end the war in Ukraine.

This is as European leaders intensify calls for the Kremlin to agree to an immediate ceasefire to end the region’s deadliest conflict since World War II.

Prompted by pressure from Trump, delegates from the warring nations convened last week in Istanbul, their first meeting since March 2022, following a proposal for direct talks by Putin, European leaders and Ukraine for an immediate ceasefire.

However, Trump said that meaningful progress toward peace was unlikely until he and Putin met directly, announcing that he would speak with the Russian president at 10 a.m. Eastern Time (1400 GMT) today and the Kremlin confirmed that preparations for the call were in progress.

“The subjects of the call will be stopping the ‘bloodbath’ that is killing, on average, more than 5,000 Russian and Ukrainian soldiers a week, and trade,” Trump wrote on his Truth Social website.

“Hopefully, it will be a productive day, a ceasefire will take place, and this very violent war, a war that should have never happened, will end.”

The ICIR reported that European leaders, with Trump’s support, have made it clear that Russia could face additional sanctions if it does not take peace talks seriously.

However, Putin has remained steadfast in his conditions for ending the war, even as Russian forces continue to advance and hold control over a fifth of Ukraine.

On Sunday, Russia carried out its largest drone attack on Ukraine since the war began. Ukraine’s intelligence service also reported that it believed Moscow planned to launch an intercontinental ballistic missile the same day, although Russia has not confirmed this.

British Prime Minister Keir Starmer held discussions with the leaders of the United States, Italy, France, and Germany on Sunday, May 18, regarding the war, according to a Downing Street spokesperson.

“Tomorrow, President Putin must show he wants peace by accepting the 30-day unconditional ceasefire proposed by President Trump and backed by Ukraine and Europe,” French President Emmanuel Macron said on X after Sunday’s call.

European leaders argue that Putin is not genuinely committed to peace, but they worry that he and Trump could push for a punitive peace deal that would leave Ukraine without a strong security guarantee and effectively cede a fifth of its territory to Russia.

The ICIR reports that Putin has portrayed the war as a pivotal moment in Moscow’s relationship with the West, accusing Western powers of humiliating Russia after the Soviet Union’s collapse in 1991 by expanding NATO and encroaching on territories he views as within Russia’s sphere of influence, including Ukraine.

In February 2022, Putin deployed thousands of troops into Ukraine, sparking the most serious confrontation between Russia and the West since the Cuban Missile Crisis of 1962.

Trump, who wants to be remembered as a peacemaker, has repeatedly called for an end to the ‘bloodbath’ in Ukraine, which his administration describes as a proxy conflict between the United States and Russia.

EKSU gets NUC full accreditation for 18 programmes

THE National Universities Commission (NUC) has granted full accreditation status to 18 academic programmes at the Ekiti State University (EKSU), Ado Ekiti.

The accreditation followed an exercise conducted by the NUC in October and November 2024

The approval was communicated in a letter dated April 30, 2025, signed by the Acting Director of Accreditation, Abraham Chundusu, on behalf of the Commission’s Executive Secretary, according to a statement by the institution.

Announcing the news on Monday, May 19, the Head of EKSU’s Directorate of Information, Bode Olofinmuagun, described the development as a significant achievement for the university. 

“The development also reaffirms EKSU’s growing reputation as the best state university in Nigeria, according to the Times Higher Education 2025 universities ranking,” he stated.

The newly accredited programmes cover a wide range of fields, including Administration, Arts, Engineering, Education, and Social Sciences

The courses include: M.Sc. Business Administration, Master of Personnel Management, M.Sc. Finance, Master of Public Administration, Master of Business Administration, Arabic Studies, Islamic Studies, Philosophy.

Others are Building and Woodwork Technology Education, Electrical and Electronic Technology Education, Metal and Auto Mechanic Technology Education, Christian Religious Studies, Civil Engineering, Electrical and Electronic Engineering, Computer Engineering, Law, Geology, and Psychology.

Reacting to the news, the Vice Chancellor of EKSU, Babatola Ayodele, expressed delight, describing the accreditation as a testament to the collective hard work of the university’s staff. 

He said: “It is a dream come true and a product of tireless efforts by the academic and administrative staff of the University. The university is always better positioned to meet the educational needs of Nigerian youth in cutting-edge and relevant fields of study.”

This was coming barely three weeks after NUC issued provisional licenses to 11 newly approved private universities.

The licenses were formally presented on Wednesday, April 30, at the NUC auditorium in Abuja. While speaking during the presentation, the  Executive Secretary of the NUC,  Abdullahi Ribadu, said there was a growing need for private universities to cater to Nigeria’s youthful population.

He stressed that private universities had significantly expanded the nation’s academic landscape since 1999.

“From just 49 universities in 1999, 23 of which were private, Nigeria now boasts of 298 universities, with 159 (53.3 per cent) being privately owned. The catalyst for this expansion is the increased participation of the private sector,” he said.

Former US President Joe Biden diagnosed with prostate cancer

FORMER US President Joe Biden has been diagnosed with an ‘aggressive’ form of prostate cancer that has spread to his bones, and he is currently reviewing treatment options, a statement from his office said Sunday, May 18.

On Friday, the 82-year-old democrat was diagnosed with cancer after experiencing increasing urinary symptoms and being evaluated for a new finding of a prostate nodule, the statement said.

“While this represents a more aggressive form of the disease, the cancer appears to be hormone-sensitive, which allows for effective management. The President and his family are reviewing treatment options with his physicians,” the statement added.

Cancer cells are commonly found in the prostates of men of Biden’s age, though in most cases they grow slowly.

According to the statement, Biden’s cancer was found to have “a Gleason score of nine (Grade Group five).

The cancer is a more aggressive form of the disease, characterised by a Gleason score of nine out of 10. This means his illness is classified as “high-grade” and that the cancer cells could spread quickly, according to Cancer Research UK.

The ICIR reports that Biden left office in January this year as the oldest serving US president in history, and was dogged by questions over his health and age for much of his presidency.

For years, he had faced questions, including from Democratic voters, over whether he was too old, lacking in mental acuity or physical endurance, for a job as trying as the presidency.

His response to doubters was brisk: “Watch me.”

However, in July last year, he was forced to drop his re-election bid after a disastrous debate against Republican Donald Trump in which fears about his decline and cognitive abilities came surging to the fore.

His vice, Kamala Harris, eventually lost to Trump.

Biden expressed belief that he could have won the election, but questions have long swirled over the responses of staff and key democrats to evident signs of his decline.

Last week, a newly published recording of Biden speaking hesitantly and struggling to remember key events and dates fueled renewed debate over his mental capabilities while still in office.

Going down memory lane, Biden’s life has been marked by personal tragedy. In 1972, his wife and baby daughter were killed in a car crash, days after he had been elected as a US senator at the age of 29.

Biden underwent surgery twice in 1988 for brain aneurysms.

In 2023, he had a skin lesion — a basal cell carcinoma — removed from his chest. He had previously had non-melanoma skin cancers removed.

Biden’s son, Beau Biden, died of brain cancer in 2015.

How warning labels can save Nigerians from toxic diets

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By Humphrey UKEAJA

IMAGINE walking through a busy Nigerian market, where brightly coloured food packages compete for your attention. From small shops to large malls, a wide variety of items are attractively displayed.

However, hidden beneath these colourful wraps is a danger of too much sugar, salt, and unhealthy fats in majority of these products, which are contributing to Nigeria’s growing health problems. Without clear, requiredEvery ‘friendship’, have a need Front of Pack warning labels (FOPWL), consumers are denied the basic right to make informed choices. They unknowingly buy more junk food, which significantly increases the rise of non-communicable diseases (NCDs) which currently contributes to 30 percent Annual deaths in Nigeria. 

As a matter of evidence, a recent report titled Junk on Our Plates by Corporate Accountability and Public Participation Africa (CAPPA) underscores this urgent need for FOPWL. The report, based on investigations across seven Nigerian states, reveals how food and beverage companies aggressively market unhealthy foods, often falsely labelling them as “nutritious” or “natural.” For instance, some sugary yogurts were labelled “not sugary,” while seasoning brands in Northern Nigeria concealed information about their high sodium content but utilised culturally resonant messaging to promote them. It is precisely this kind of lack of openness that strips Nigerians of the ability to make informed food choices, pushing them further into the grip of preventable diseases like diabetes, hypertension, and cardiovascular conditions.

Front of Pack warning labels (FOPWL)
Front of Pack warning labels (FOPWL)

The global rise in NCDs is well-documented, and Nigeria is no exception. A key reason for this is the consumption of heavily processed foods, pushed in the market through aggressive advertising and strategic placement. Without mandatory warning labels to signal danger, consumers are left unaware of the risks. As a result, poor dietary choices become normalised, feeding a cycle of illness that burdens families and the national healthcare system alike.

But it is not all doom. International experiences show that countries can successfully reverse these trends with bold regulatory action. In Chile, for example, the introduction of a groundbreaking system of clear, black octagonal warning labels on foods high in critical nutrients of concern, such as sugar, sodium, saturated fats, and trans fats empowered consumers to become more aware, forced companies to reformulate products, and the purchases of sugary drinks to drop by nearly 24 per cent within a year.

Mexico and Peru adopted similar systems and recorded significant shifts in consumer behaviour and industry practices. In Peru, marketing claims on processed foods changed drastically as manufacturers reformulated products and utilised warning labels, thereby making their products healthier.

Beyond Latin America, other nations are also making progress. In Canada, while not exactly warning labels, nutrition symbols flag high levels of sugar, salt, and saturated fat in food products. These labels have helped increase consumer awareness and, to some extent, encouraged the development of healthier products. South Africa has published draft regulations for front-of-pack warning labels, backed by research and growing public support. These global examples demonstrate that effective labelling can reduce harmful consumption, reshape industry behaviour, and protect public health. 

Front of Pack warning labels (FOPWL)
Front of Pack warning labels (FOPWL)

In addition, the World Health Organization (WHO) has long endorsed front-of-pack warning labels as one of the most cost-effective tools for preventing diet-related NCDs. In its 2020 guidance, WHO recommended interpretive labelling systems—such as high-visibility warnings and symbols—over complex numeric formats that are difficult for consumers to understand. According to WHO, such labels not only empower people to make healthier food choices, but also contribute to reducing health inequalities, particularly among lower-income groups who are more vulnerable to aggressive junk food marketing. Countries that have adopted these systems in line with WHO’s guidance have seen measurable declines in the consumption of unhealthy foods, underscoring the effectiveness of labelling as part of a broader nutrition policy framework.

For Nigeria, mandatory warning labels are not just about consumer rights, they are a public health necessity. A clear, standardised system will equip citizens to make better dietary choices, reduce the consumption of junk food, and lessen the burden of NCDs. This proactive approach can stop the rising tide of diet-related diseases and ensure a healthier future for generations to come.

As a matter of urgency, the Nigerian government should enact regulations requiring front-of-pack warning labels for foods high in sugar, sodium, and unhealthy fats. These labels must be visible, understandable, and consistent across all brands. Public education campaigns are also essential to help consumers interpret labels and understand the health risks of poor nutrition. At the same time, manufacturers should be compelled to reformulate products to reduce harmful ingredients and align with public health goals.

Ultimately, embracing transparent Front of Pack Warning labelling policies is a vital step towards building a healthier Nigeria, where informed choices win over the deceptive appeal of junk food and the well-being of the population is prioritised over short-term commercial interests and profits.

Ukeaja is the Industry Monitoring Officer at Corporate Accountability and Public Participation Africa (CAPPA).

Victor Osimhen leads Galatasaray to Turkish Super Lig victory

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NIGERIAN striker Victor Osimhen helped Galatasaray secure their 25th Turkish Super Lig title with an emphatic 3-0 win over Kayserispor on Sunday, May 18. 

Osimhen, who has been in sensational form this season, opened the scoring with a powerful header in the 27th minute. The goal made it his 36th across all competitions this season for the Turkish side.

The victory marked Galatasaray’s third consecutive championship. It also adds to Galatasaray’s recent triumph in the Turkish Cup, where they defeated Trabzonspor 3–0, with Osimhen scoring twice.

Osimhen’s journey to Galatasaray began after a tumultuous summer in 2024.

Following failed transfer negotiations with clubs like Chelsea and some Saudi pro league clubs, and subsequent exclusion from Napoli’s Serie A squad, Osimhen joined Galatasaray on a season-long loan on September 4, 2024.

Since his arrival, he has been instrumental in Galatasaray’s success, contributing 36 goals and eight assists across all competitions. 

His performance has also solidified his status as a fan favourite, with the fans displaying a banner appealing to the Nigerian star to stay for the upcoming seasons.

Last week, the one-time African best broke a 24-year-old record, becoming the most prolific foreign player in Turkish football history by surpassing Brazilian legend Mario Jardel’s previous tally of 34 goals in a single season.

Nigerian pastor faces deportation from South Africa amid rape, other charges

A Nigerian pastor and televangelist, Timothy Omotoso, is expected to leave South Africa today, Sunday, May 18,  marking the end of his lengthy legal ordeal that has lasted nearly ten years.

His deportation comes after he was acquitted of raping young women from his church, local media reported.

On May 10, Omotoso was said to have been re-arrested by immigration officials in East London after declaring him a prohibited person and his continued stay in the country unlawful.

Omotoso, founder of the Durban-based Jesus Dominion International (JDI) church, was originally arrested in 2017.

His high-profile trial had drawn national attention and sparked widespread public outrage.

On Sunday, the 66-year-old televangelist was to leave Johannesburg’s OR Tambo Airport for Nigeria.

His deportation came just days after his prosecutors said they would reopen the case.

Last month, Omotoso was found not guilty on 32 charges, including rape, sexual exploitation and human trafficking after spending eight years in jail.

The judge was reported as saying that the prosecutors mishandled the case, which drew some concern across South Africa.

The prosecutors, however, said they would appeal against his acquittal for rape and would investigate the team that handled the case.

The ICIR reports that Omotoso heads the JDI church, headquartered in the eastern South African coastal city of Durban.

The JDI has branches in Nigeria and Israel, according to the South African government.

On May 10, Omotoso was rearrested on immigration charges as the South African government said he was subject to deportation.

A magistrates’ court, however, ordered his release, ruling that he could not be detained for more than 48 hours without being charged.

Zelensky meets Pope Leo XIV at Vatican, calls for global peace

UKRAINIAN President Volodymyr Zelensky met with Pope Leo XIV at the Vatican on Sunday, May 18, and made a call for global peace following the pontiff’s inauguration mass. 

Announcing the meeting on X, Zelensky emphasised the symbolic importance of the Pope’s role in promoting peace.

“For millions of people around the world, the Pontiff is a symbol of hope for peace. The authority and voice of the Holy See can play an important role in bringing this war to an end,” Zelensky said on X.

“We appreciate the support for Ukraine and the clear voice in defense of a just and lasting peace,” he added.

Zelensky was accompanied by First Lady Olena Zelenska and Presidential Office head Andriy Yermak during the inauguration mass, which attracted approximately 250,000 pilgrims and 156 foreign delegations. 

Notable attendees included Nigerian President Bola Tinubu, the Presidents of Peru and Israel, the Prime Ministers of Italy, Canada, and Australia, German Chancellor Friedrich Merz, and European Commission President Ursula von der Leyen.

Other attendees included U.S. Secretary of State Marco Rubio and U.S. Vice President JD Vance, who had met with Pope Francis shortly before his passing.

The meeting came shortly after Pope Leo XIV’s inauguration, where he vowed to address global challenges, including poverty and environmental protection. The new Pope pledged to uphold the legacy of his predecessor, Pope Francis, emphasising his commitment to building a more united global Catholic Church.

During his inauguration sermon, Robert Prevost, who took the name, Pope Leo XIV, believes that the cardinals who elected him had chosen someone “capable of preserving the rich heritage of the Christian faith and, at the same time, looking to the future, to confront the questions, concerns and challenges of today’s world.”

He stressed the need for unity within the Church and called on Catholics to serve as a symbol of reconciliation in a world marked by discord, hatred, and exploitation. 

The Pope also called for cooperation with other Christian denominations and people of goodwill to build a world where peace reigns.