Banking
Police Arrest First Bank Manager Over Gruesome Murder of Staff
By Dipo Olowookere
The gruesome murder of Ms Nofisat Tutu Ibrahim, a member of staff of an old generation financial institution, First Bank Nigeria Limited, has led to the arrest and detention of a manager of the bank’s branch in Ondo State.
Ms Ibrahim was killed on Wednesday evening by two unidentified gunmen at Oke Ogba area of Akure, the state capital.
Until her death, she was in charge of the Point of Sale (POS) ordering at the commercial bank and was said to have informed her boss of a threat to her life by a businesswoman in the area. However, her manager allegedly ignored the threat and on Wednesday, two men who alighted from a motorcycle, stormed her place of work and murdered her in cold blood.
After the unfortunate incident, policemen from the Ondo State Command swung into action to unravel those behind the killing.
Already, two persons are believed to be in police custody; the branch manager of First Bank and the businesswoman the deceased allegedly had a spat with. It was gathered that the two suspects are cooling off at the Fanibi Police Station in Akure and are helping the security agency in its investigation.
One of the associates of Ms Ibrahim narrated how his friend and former classmate was murdered by the gunmen.
“I was told that her assailant (s) who came in a motor – bike disguised as customers lurking to transacts business in her terminal.
“The yet to be identified killers gained entry into her terminal and ordered everyone to lie down on their faces before she was attacked.
“They first attempted to strangulate her but she bolted – to raise an alarm, and as she ran out to escaped death, the armed men went after her and was shot twice on the b***st.
“These hoodlums left with nothing in the shop as there money and other valuables – raising the suspicion that they must have been “hired assassins” working in the dark.
“The gun shot fired by her murderers had made business owners and traders in the area to ‘ve thought it was a case of armed robbery.
“Not, it is ‘pure assassination’ with our findings so far! But we shall allow the security agencies to do their discrete job and ascertain our claims.
“Miss Tutu was murdered in cold blood – this is very shocking and so sad! The narrations I got from Tutu’s elder sister is a tale of sorrow. I was told that the deceased had earlier raise the alarm about a threat to her life.
“The issue was about a business woman close to her bank who was allege to have threatened to deal with Tutu over some disagreements on the issuance of POS machine.
“This, according to her elder sister was reported to her boss in the bank mostly the “Manager” who only did not take the as a serious case or did less to Tutu’s report in the office.
“Sad! Tutu has been buried in accordance with Muslim rites but her killers must not go freely. She need justice ‘cus her killers have murdered sleep in the face of her parents.
“I learned that the case has been reported at the Fanibi Police Station in Akure but seems the Divisional Police Officer (DPO) in Charge of the Station, Omolayo Adams, is trying to play ball!
“We are yet to know if this is unconnected with the highly influential suspects that have been fingered in the murder case by the family.
“We have spoken with DSP Femi Joseph, the Spokesman of the ondo state police command and he has assured that detectives have began their investigation on the murder case.
“He promised that the ‘perpetrators would soon be arrested and brought to book’. We shall be holding the the police for their words as we all join them in unraveling those behind this dastardly act.”
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
