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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Singer Market Fire: Tinubu Sends Shettima, FG Delegation to Kano

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Singer Market Fire

Singer Market Fire: Tinubu Sends Shettima, FG Delegation to Kano

President Bola Ahmed Tinubu has directed Vice President Kashim Shettima to lead a high-powered Federal Government delegation to Kano State to express sympathy and provide support to victims of the devastating Singer Market fire disaster.

The directive was disclosed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. According to the statement, the delegation is scheduled to depart Abuja on Monday and will formally convey President Tinubu’s condolences to traders who lost goods worth billions of naira in the weekend inferno, which engulfed the market — the second major fire incident at Singer Market in less than two weeks.

The delegation will also convey the Federal Government’s pledge of financial assistance to support affected traders and assist the Kano State Government in facilitating the swift reopening of the market, which serves as a major food distribution hub for northern Nigeria and beyond.

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Members of the delegation include the Speaker of the House of Representatives, Tajudeen Abbas; the Deputy Senate President, Barau Jibrin; Kawu Ismaila; and Abubakar Kabir Bichi, who chairs the House of Representatives Committee on Appropriation. Also on the team are the Minister of Humanitarian Affairs, Bernard M. Doro, and the Director-General of the National Emergency Management Agency, Zubaida Umar.

President Tinubu had earlier spoken by telephone with Abba Kabir Yusuf, expressing his condolences to traders and residents of Kano over the devastating fire outbreak. He described the incident as deeply distressing, particularly as it occurred shortly after a previous fire destroyed dozens of shops and large quantities of goods at the same market.

The fire reportedly started on Saturday evening and raged into Sunday morning, causing extensive damage at Singer Market, widely regarded as Nigeria’s largest food market and a critical centre for the distribution of grains and foodstuffs across the country.

Concerned by the recurring nature of market fires, President Tinubu has directed a comprehensive investigation into the causes of the repeated incidents, with a view to strengthening fire safety measures, emergency response capacity, and preventive mechanisms in major commercial centres nationwide.

The Federal Government reaffirmed its commitment to supporting affected traders, safeguarding livelihoods, and working closely with state governments to prevent future disasters.

Singer Market Fire: Tinubu Sends Shettima, FG Delegation to Kano

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Omokri Alleges Possible Hacking in Obi–Oyedepo Audio Leak, Mentions el-Rufai

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Omokri Alleges Possible Hacking in Obi–Oyedepo Audio Leak, Mentions el-Rufai

Political commentator, Reno Omokri, has alleged that the controversial leaked telephone conversation between the presidential candidate of the Labour Party in the 2023 election, Peter Obi, and founder of Living Faith Church Worldwide, Bishop David Oyedepo, may have been the result of a coordinated hacking operation.

Omokri, in a statement shared on his verified social media handle, suggested that associates of a former Governor of Kaduna State, Nasir el-Rufai, could have had both the capacity and motive to compromise Obi’s phone and leak the conversation to the public during the heat of the 2023 presidential campaign.

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The leaked audio, which surfaced weeks before the presidential election, generated widespread reactions across political and religious lines, with critics interpreting parts of the conversation as religiously charged. Obi had, at the time, denied any wrongdoing and maintained that his comments were taken out of context.

In his latest remarks, Omokri argued that political phone hacking was not impossible in Nigeria’s political environment, adding that if high-profile communications could allegedly be breached, then the phones of political actors might also be vulnerable. He, however, did not provide evidence to substantiate the allegation.

Efforts to reach el-Rufai’s media aides for comments were unsuccessful as of the time of filing this report. There was also no immediate response from Obi’s camp regarding the fresh claims.

No security agency has publicly linked any individual or group to the leaked audio, and there is no official confirmation that the conversation was obtained through hacking.

Analysts say the renewed allegations reflect lingering tensions from the 2023 general elections and underscore growing concerns over cybersecurity and political misinformation in the country.

Omokri Alleges Possible Hacking in Obi–Oyedepo Audio Leak, Mentions el-Rufai

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Troops Arrest Suspected Gunrunner, Recover Six Machine Guns in Taraba Operation

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Troops Arrest Suspected Gunrunner

Troops Arrest Suspected Gunrunner, Recover Six Machine Guns in Taraba Operation

Troops of the 6 Brigade, Nigerian Army, operating under **Sector 3 of Operation Whirl Stroke, have arrested a suspected gunrunner and recovered a cache of weapons and related items during an intelligence‑led operation in Ibi Local Government Area, Taraba State.

The operation, which took place on 12 February 2026, was launched after credible intelligence alerted soldiers deployed at the Forward Operating Base (FOB), Wukari, to the presence of a suspected arms trafficker in the area. Following swift mobilisation, the troops intercepted and apprehended the suspect identified as Mr. Abubakar Ibrahim, a 48‑year‑old native of Barkin Ladi Local Government Area in Plateau State.

A statement issued on Saturday by Lieutenant Umar Muhammad, Acting Assistant Director of Army Public Relations for 6 Brigade, confirmed the arrest and the recovery of several items during a thorough search conducted at the scene.

Recovered items included:

  • 6 x PKT machine guns
  • 2 x 7.62mm special ammunition
  • Cash sum of One Hundred and Seventy Thousand Naira (₦170,000)
  • 1 x Peugeot 504 vehicle
  • 1 x Q Seven mobile phone
  • 7 x bottles and wraps of perfume
  • 2 x small containers of Vaseline

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The suspect remains in custody and is currently undergoing further investigations by military intelligence and law enforcement personnel.

The Army emphasised that the interception denied criminal elements the opportunity to proliferate illegal weapons within the state, contributing to broader efforts to combat insecurity and enhance public safety across Taraba and neighbouring states. Illegal arms proliferation has been a major driver of violence, including kidnapping, banditry and communal clashes, particularly in Nigeria’s Middle Belt region.

The Commander of 6 Brigade Nigerian Army/Sector 3 OPWS, Brigadier General Chukwuemeka Michael Akaliro, commended the vigilance, professionalism and swift response of the troops involved. He urged soldiers to sustain the operational tempo to ensure that the Brigade achieves the mandate assigned by the Chief of Army Staff (COAS).

He also appreciated the cooperation of local residents, noting that timely and credible intelligence from community members played a significant role in the success of the operation.

Brigadier General Akaliro called on members of the public to remain security conscious and to continue assisting security agencies with actionable information, emphasising that such cooperation has proven invaluable in cracking down on criminal networks.

“The Brigade remains resolute in its mandate to protect lives and property and to restore lasting peace and stability across Taraba State,” he stated, reaffirming the Army’s commitment to safeguarding civilians and curbing the flow of illegal weapons in the region.

 

Troops Arrest Suspected Gunrunner, Recover Six Machine Guns in Taraba Operation

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