How MDs of Zenith, Access spent N44.67bn to secure holding interest – Newstrends
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How MDs of Zenith, Access spent N44.67bn to secure holding interest

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How MDs of Zenith, Access spent N44.67bn to secure holding interest

The managing directors of Access Holdings Plc and Zenith Bank Plc have spent N44.67 billion to acquire more shares to ensure stake in their companies.

In separate disclosures to the investing public, Herbert Wigwe, the group managing director of Access Holdings, acquired 1,350,188,284 units of shares at an aggregated sum of N32.8 per share, totalling N44.29 billion.

Wigwe had, through the additional acquisition, raised his controlling interest in the bank to 8.74 per cent or 3,105,789,014 of the company’s total shares outstanding of 35,545,225,622.

Details of the transactions showed that Wigwe, on April 27, acquired 1,135,188,284 units at N10 per share, which amounted to N11.35 billion.

On May 5, he acquired 75,000,000 units of shares at N11.25, for N843.75 million, and on May 8, 140,000,000 units at N11.55 per share for N1.617 billion.

These transactions were done through Tengen Holdings (Mauritius) Limited.

His counterpart in Zenith Bank, Ebenezer Onyeagwu, bought 8,000,000 additional shares at N47.94, for N383.52 million, which raised his stake to 0.29 per cent or 90,176,078 units of the company’s total outstanding shares of 31,396,493,786.

By this acquisition, Onyeagwu has further secured his hold as the second largest shareholder of the company.

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According to the official disclosure released on Thursday, May 11, Onyeagwu on May 4 acquired an aggregated 3,463,461 units at N23.93 per share, of which the transaction details showed he bought 1,236 units at N23.85 per share; 1,161,608 units at N23.95 per share; and 2,300,617 units at N24 per share.

The Zenith Bank boss, on May 5, acquired additional shares of 4,536,539 units at N24.01 per share. The transaction was broken down into 283,794 units at N23.90 per share; 1,276,667 units at N24 per share; 2,376,078 units at N24.05 per share; and 600,000 units at N24.10 per share.

The company’s financial reports showed that as of December 31, 2022, Wigwe held 201,231,713 direct shares and 1,554,369,017 indirect shares of Access Holdings, while Onyeagwu held 82,176,078 units of Zenith Bank’s shares.

Wigwe’s indirect holdings relate to United Alliance Company of Nigeria Limited assets, 537,734,219 units of shares; Trust and Capital Limited, 584,056,979 units of shares; and Coronation Trustees Tengen Mauritius, 432,577,819 units of shares.

According to Zenith Bank, the board of directors, under the powers vested in it “by the provisions of section 426 of the Companies and Allied Matters Act (CAMA 2020) of Nigeria,” proposed a final dividend of N2.90 per share which, in addition to the N0.30 per share as interim dividend amounts to N3.20 per share from the retained earnings account as at 31 December 2022.

It means that Onyeagwu had about N288.56 million dividends from Zenith Bank by the end of last year.

The payment of dividends is subject to a withholding tax rate of 10 per cent in the hands of a qualified recipients.

Zenith Bank has a diverse shareholding structure, with no single ultimate individual shareholder holding more than 12 per cent of the bank’s total shares.

The bank’s chairman/non-executive director, Jim Ovia, holds 11.29 per cent of 3,546,199,395 direct shares and 1,523,928,375 indirect shares as of December 31, 2022.

The board of directors of Access Holdings also proposed a final dividend of N1.30k per ordinary share. It then means that Wigwe pocketed about N4.04 billion dividend from Access Holdings in 2022.H

How MDs of Zenith, Access spent N44.67bn to secure holding interest

ICIR with minimal editing

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Attack on Mufty of Ilorin: Onikijipa Family Charges Stakeholders to Call Sheikh Habibullahi Al-Ilory to Order

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Attack on Mufty of Ilorin: Onikijipa Family Charges Stakeholders to Call Sheikh Habibullahi Al-Ilory to Order

 

Stakeholders in Ilorin Emirate have been asked to call to order the Mudirul, Markaz Centre for Arabic and Islamic Studies, Agege, Lagos State, Sheikh Habibullahi Adam Al-Ilory, over his persistent attacks on the personality of the Grand Mufty of Ilorin, Sheikh Suleiman Faruq Onikijipa.

 

In a statement issued in Ilorin on Sunday and obtained by Just Event Online TV , the Magaji Onikijipa Compound, Alhaji Abdulrahman Suyuti Onikijipa, on behalf of the family, said there is no distinction between the descendants of Onikijipa as they remain an indivisible entity.

 

The statement was titled “No Bastard among the Onikijipa: A Rejoinder to Habibullah Adam Al-Ilory”.

 

It clarified that the statement credited to Habibullahi Al-Ilory that the father of Grand Mufty of Ilorin, Sheikh Faruq Onikijipa was not a member of Onikijipa was not only false but a lie from the pit of hell.

 

The statement explained that Sheikh Habibullahi Al-Ilory’s unsubstantiated claim was borne out of mischief and a ploy to create a wedge among Onikijipa family, insisting that the family does not harbour a bastard.

 

It recalled that this was not the first time the Mudirul Markaz would try to rewrite history of Onikijipa even in explicit contradictions to his father, Sheikh Adam Abdullahi Al-Ilory’s narrations in his mere usual bid to claim the “all-knowing”.

 

The statement noted that Sheikh Habibullahi Al-Ilory was out to discredit the good image of the Grand Mufty of Ilorin, adding that he has made attacks on anyone as his own trademark.

 

It described as bogus the claim attributed to Sheikh Habibullahi Al-Ilory that only Alfa Alabi Onikijipa is the original Onikijipa and maintained that both Alfa Alabi Onikijipa and Alfa Faruq Onikijipa, the father of the Mufty of Ilorin are brothers and one family.

 

“We are compelled to release this statement in view of the recent shenanigan being displayed by Habibullah Adam Al-Ilory. We would not have responded to the story he put up in his head for reasons best known to him, but for the important need to set the record straight so that in the future people will not doubt our history as one strong Onikijipa family. This is not the first time this individual has tried to rewrite history even in explicit contradictions to his father’s narrations in his mere usual bid to claim the “all-knowing”. He is the only one who can help us to understand the reasons for doing that. As far as we are concerned, he is just being mischievous.

 

“On Friday 21st of Ramadan, Habibullah Adam Al-Ilory informed his listeners that he wanted to attack the Onikijipa family. During his daily tafsir, he went astray to attack our family in his usual nonsensical manner, an attempt to create disunity among us. But for his information, we are one strong indivisible family.

 

“There are some points that need to be addressed.

Habibullah Adam Al-Ilory claimed that our illustrious son, Sheikh Suleiman Faruq Onikijipa, the grand Mufty of Ilorin, is angry with Sheikh Adam Al-Ilory, Habibullah’s father, because the sheikh did not mention Sheikh Suleiman Faruq’s father in his book. This is not only laughable but a lie from the pit of hell. Habibullah should inform us the point at which Sheikh Suleiman said this and in what context. We believe this is just another lie to discredit the Mufty’s good image. That is Habibullah Adam Al-Ilory trade mark: he attacks everyone. He recently did the same to the people of Agbogunmati.

 

“As if that was not enough, Habibullah Adam Al-Ilory narrated that Sheikh Suleiman’s father is not a member of Onikijipa. This is another nonsense! His theory is that any house or household in Ilorin that is situated outside the main compound is not part of the family. Such a household, according to his theory, must have been given or gifted to the land. They are not originally part of the family. One begins to wonder if Habibullah Adam Al-Ilory remembers where his own family house is situated in Ilorin. It is there for everyone to see.

 

“Habibullah Adam Al-Ilory, in his desire to create disunity among us, claimed that Alfa Alabi Onikijipa is the original Onikijipa. If we had not heard this ourselves, we would not have believed it is coming from a man, who is expected to know better. But it is not surprising; that is his way. He attacks without a reason. He comes up with all sorts of theories just prove anything! There are instances out there. But this is our story, Alfa Alabi Onikijipa and Alfa Faruq Onikijipa are brothers and one family. There is no separation among us. It is even more worrisome that such a respected scholar is using “show me your father’s grave” theory as a proof of originality. Pathetic!

It is really appreciative if this man is called to order by stakeholders from Ilorin Emirate. Using his own words, he should not let people begin to “dig his own dead”. But we the Onikijipa are learned and respectful. We will not become pig”, the statement read partly.

 

Attack on Mufty of Ilorin: Onikijipa Family Charges Stakeholders to Call Sheikh Habibullahi Al-Ilory to Order

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Natasha says she won’t be forced into submission, denies apology

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Natasha Akpoti-Uduagan

Natasha says she won’t be forced into submission, denies apology

Suspended Kogi Central Senator Natasha Akpoti-Uduaghan has denied reports that she apologised to the Senate over the issue that led to her suspension.

In a statement released on Monday, Akpoti-Uduaghan condemned the charges as “false and misleading,” asserting that she maintains her position.

“The reports suggesting that I have apologised to the Senate and retracted my position are completely untrue. I stand firmly by my words and actions and have not issued any apology to the Senate or anyone regarding this matter,” she said.

She chastised individuals disseminating false claims, accusing them of attempting to distort the truth and misinform the public.

The senator, who was suspended following a disagreement with Senate leadership, stated that she is still devoted to defending her constituents’ rights and that some people are attempting to mislead public opinion with false remarks.

“I urge the public to disregard these rumours and publications, as they do not represent my position. My commitment remains to truth, justice, and the people I represent.”

Natasha also expressed concern over what she called a planned effort to silence her voice in the National Assembly.

She stated, “This is not just about me; it is about the integrity of our democracy. I will not be intimidated or forced into submission through false narratives.

Natasha urged Nigerians to be careful of misinformation, adding that any official statement from her would come only from her verified channels.

“I appreciate the support and solidarity of my people. Rest assured, I will continue to fight for what is right and just.”

Following her suspension from the Senate, some have advocated for Akpoti-Uduaghan’s recall.

The recall effort came after she was suspended from the Senate following a heated debate with Senate President Godswill Akpabio over seating arrangements.

She also accused Akpabio of sexual harassment and has subsequently taken her case to local and international media outlets, as well as the United Nations Inter-Parliamentary Union.

 

Natasha says she won’t be forced into submission, denies apology

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UNIOSUN mourns as 5 students die in auto crash

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UNIOSUN mourns as 5 students die in auto crash

A tragic auto accident on the Ikire-Ibadan expressway has claimed the lives of five students from Osun State University (UNIOSUN), Osogbo.

The fatal crash, which occurred on Sunday, March 23, 2025, at Balogun Area of Ikire, involved a luxurious bus traveling from Ibadan and an 18-passenger bus from Osogbo. Reports indicate that both vehicles collided head-on, resulting in multiple casualties.

In addition to the UNIOSUN students, five other individuals also lost their lives in the horrific accident, bringing the total death toll to ten.

Authorities have yet to release an official statement on the cause of the crash, but emergency responders were on the scene to provide assistance.

A statement released by the Institution’s Public Relations Officer, Ademola Adesoji, stated that reports from the Nigerian Police and the Federal Road Safety Corps (FRSC), that the accident was caused by the head-on collision of the two buses, leading to a severe impact that claimed the lives of several passengers.

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“Our University Management, upon receiving this distressing news, swiftly dispatched a team to the scene to identify and support any of our students involved in the accident.

“Regrettably, we confirm the loss of the following students; Olagbemide Dotun, a 200-level student of Software Engineering, Suleiman Farouq, a 400-level student of Law, Ogundare Pelumi, a 300-level student of Public Health, Ogundare Elijah, a 100-level student of Mechanical Engineering and Olawuyi Mary, a 200-level student of Nursing.

“However, one of our students, Olagbemide Damilola, a 200-level student of Medicine and Surgery, survived the accident and is currently receiving medical attention.

“Osun State University is working closely with the relevant authorities to gather more details on the circumstances surrounding the accident. We are also providing necessary moral and logistical support to the bereaved families, including funeral arrangements for the deceased students.

“This tragic loss has deeply shaken our University community. Our thoughts and prayers are with the families and loved ones of the deceased. We urge our students, staff, and the entire university community to remain calm and supportive during this difficult time”, he said.

 

UNIOSUN mourns as 5 students die in auto crash

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