Connect with us

General

Atedo Peterside Exits Stanbic IBTC Board After 35 Years

Published

on

By Adedapo Adesanya

Mr Atedo Peterside has resigned from the board of Stanbic IBTC after serving in various capacities, including as chief executive officer (CEO), chairman and bank director for the past 35 years.

The banker at 68 years old is bidding farewell as Director, two years earlier than the retirement age of 70 years old.

“Today was the Annual General Meeting of Standard Bank Group Limited and I opted not to be re-elected as a Director. The retirement age is actually 70, but I believe 35 years is enough and the succession plans have worked well,” Mr Peterside announced on X, formerly known as Twitter.

Mr Peterside founded the Investment Banking and Trust Company Limited (IBTC) in February 1989 at age 33 and served as the bank’s CEO till 2007.

During the 2005 recapitalisation programme by the Central Bank of Nigeria (CBN), the lender acquired two commercial banks, Chartered Bank Plc and Regent Bank Plc, to become a universal bank on December 19, 2005.

This was as it raised over N25 billion minimum capital base as required by the then Mr Charles Soludo-led CBN, the current Governor of Anambra State. It then became known as IBTC Chartered Bank Plc.

In September 2007, IBTC Chartered Bank Plc merged with Stanbic Bank Nigeria Limited to form Stanbic IBTC Bank Plc, and he was elected Chairman of Stanbic IBTC Bank in October 2007.

Mr Peterside was Group Chairman of Stanbic IBTC Holdings Plc from August 2012. Having overseen a number of regulatory matters through to completion, he announced his resignation on March 31, 2017.

He attained his secondary education at King’s College, Lagos and obtained a B.Sc degree in Economics from The City University, London.

He acquired a Master’s degree (M.Sc) also in Economics from the London School of Economics and Political Science.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

General

ANLCA Airport Chapter Scores Salamatu High on Stakeholder Engagement, Trade Facilitation

Published

on

ANLCA Airport Chapter

By Bon Peters

The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.

At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.

At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.

“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.

He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.

The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating  trade and increasing Revenue generation.”

“I remember I told her she was a mother during her maiden visit to the airport.

“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.

“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.

Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.

Continue Reading

General

FG Declares Holidays for Christmas, New Year Celebrations

Published

on

as public holidays

By Adedapo Adesanya

The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.

The government also declared Thursday, January 1, 2026, for the New Year celebration.

The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.

According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.

Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.

He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.

Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.

Continue Reading

General

Dangote Refinery Warns Against Artificial Petrol Scarcity

Published

on

petrol scarcity

By Modupe Gbadeyanka

Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.

The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.

“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.

“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.

It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.

With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.

Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.

“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.

Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.

By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.

Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.

“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.

“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.

“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.

Continue Reading

Trending