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 Adedapo Adesanya
Access Bank Plc, the banking subsidiary of Access Holdings Plc, has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of 100 per cent equity stake in Bidvest Bank Limited.
The deal for the 24-year-old South African lender is due to be completed in the second half of 2025, upon regulatory approval.
This shows Access Bank’s further expansion plans in line with goals set by its late founder, Mr Herbert Wigwe.
The agreement to acquire 100 percent stake in Bidvest Bank reflects Access Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to global markets as it seeks to optimise the benefits of recent acquisitions and accelerate its transition towards a greater focus on efficiencies.
Bidvest Bank, founded in 2000 is a niche and profitable South African financial institution providing a diverse range of services, including corporate and business banking solutions and diverse retail banking products.
As of its year ended June 2024, Bidvest Bank reported total assets equivalent of $665million and audited profit before tax of $20million.
Upon conclusion of this acquisition, Bidvest Bank will be merged with the bank’s existing South African subsidiary to create an enlarged platform to anchor the regional growth strategy for the SADC region.
This is coming just as the bank opened a new branch in Malta as part of efforts to focus on international trade finance after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
The Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
By Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
By Adedapo Adesanya
The International Finance Corporation (IFC) and Goldman Sachs have announced a new partnership with African banks, including Nigeria’s Zenith Bank and Stanbic IBTC Nigeria to support the Goldman Sachs 10,000 Women initiative, a joint programme launched in 2008 to provide access to capital and training for women entrepreneurs globally.
The two Nigerian banks are part of nine financial institutions from across Africa which have agreed to join the 10,000 Women initiative committing to leverage the business education and skills tools the programme provides to create more opportunities for women entrepreneurs across the continent by providing access to business education.
Others banks include Stanbic Bank Kenya, Ecobank Kenya, Ecobank Cote d’Ivoire, Equity Bank Group, Banco Millenium Atlantico – Angola, Baobab Group, and Orange Bank.
Speaking on this, Ms Charlotte Keenan, Managing Director at Goldman Sachs said – “10,000 Women has had a powerful impact to date, but we know that there are more women to reach and more potential to be realized.
“We are delighted to partner with IFC to supercharge the growth of women-owned businesses across Africa, and mainstream lending to female business leaders. We remain committed to supporting entrepreneurs with the access to education and capital that they need to scale.”
Since 2008, the 10,000 Women initiative has provided access to capital and business training to more than 200,000 women in 150 countries.
“This expanded initiative marks a significant step forward in creating equitable economic opportunities for women in Africa, enabling them to build stronger, more resilient businesses and to realize their entrepreneurial goals,” said Ms Nathalie Kouassi Akon, IFC’s Global Director for Gender and Economic Inclusion.
Goldman Sachs’ 10,000 Women initiative complements the Women Entrepreneurs Opportunity Facility (WEOF), launched in 2014 by Goldman Sachs and IFC as the first-of-its-kind global facility dedicated to expanding access to capital for women entrepreneurs in emerging markets.
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