General
Stanbic IBTC, Food Firm to Feed Nigerians
As various economies across the globe struggle to stay afloat following the impact of the pandemic, governments have implemented tough measures such as border closures, ban on large gatherings, social distancing and travel restrictions, among others, to curtail the spread of the virus.
The decision of the government to lockdown major cities in Nigeria, as a more stringent measure to curtail the spread of the virus, has undoubtedly affected the economic well-being of many citizens.
Even though the government has temporarily eased the lockdown, the result has been a spike in the number of hungry individuals in the society.
While virtually every member of the society suffered levels of disruption in their lives, the down-trodden in the society were the most affected.
The lowly in the Nigerian society can barely afford meals and the level of hunger in the country has increased rapidly.
It has thus become a pertinent responsibility of individuals and corporate organisations to contribute to initiatives that would ameliorate the impact of hunger, occasioned by the COVID-19 pandemic, on the less privileged in the society.
As one of Africa’s fastest-growing economies and the continent’s most populous nation, Nigeria was bound to be negatively affected by the pandemic.
A United Nations World Food Programme (WFP) report stated that the number of people facing acute food insecurity has doubled due to the economic fallout of COVID-19.
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has joined other institutions to provide succour to Nigerians who have no access to food.
The organisation has partnered Givefood.ng to provide food for 5,250 people belonging to families in desperate need of food during these trying times.
The partnership is exemplary and worthy of emulation by individuals and other corporate organisations. As for Stanbic IBTC Holdings PLC, the organisation remains unwavering in its quest to provide relief and succour to Nigerians during these trying times and always.
Hunger, poverty, and diseases are interlaced, and the presence of one may inadvertently result in the others.
As an organisation which aims to positively affect individuals and institutions in Nigeria, Stanbic IBTC Holdings PLC has made several efforts to support the government, health agencies and the citizens of the country in battling the COVID-19 pandemic. The organisation has made several financial donations to governments and private sector participants as the country battles to mitigate the Covid-19 rage.
With “Zero Hunger” as one of the targets of the 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, it is imperative to have a world where there is no hunger, where there is food security and access to nutritious food by all.
Givefood.ng is an emergency food relief platform with an objective to provide 1 million meals to those in need across Nigeria.
With the generous support of its coalition partners, the initiative has already delivered thousands of meals in Lagos, Kano and is on track to go nationwide in the next couple of weeks.
The firm gives everyone the opportunity to protect the bigger family, and give food to those in need from the convenience and safety of your home.
By Aduragbemi Omiyale
For the second consecutive month, Dangote Petroleum Refinery and Petrochemicals has become the largest supplier of jet fuel to Europe, outpacing the United States of America (USA).
Data from Kpler showed that in July 2026, the Lagos-based oil facility, which has the capacity to refine 700,000 barrels of crude oil per day, produced more than 400,000 tonnes of jet fuel.
In June 2026, the private refinery, owned by Mr Aliko Dangote, exported 466,000 tonnes to Europe, underscoring its growing influence on international fuel markets and highlighting Nigeria’s emergence as a strategic player in global refined petroleum trade.
The latest data indicated that Dangote Refinery accounts for approximately 20 per cent of Europe’s total jet fuel imports last month.
The sustained export performance marks a significant milestone for the refinery, demonstrating its ability to consistently supply one of the world’s most demanding fuel markets with aviation fuel that meets stringent international quality specifications. Europe imported approximately 2.06 million tonnes of jet fuel in July, with Dangote accounting for the single largest share of those imports, ahead of traditional suppliers from the United States and the Middle East.
Industry observers say the refinery is rapidly reshaping established Atlantic Basin fuel trade flows by offering a competitive alternative to long-standing suppliers. While European buyers have traditionally relied on refiners in the United States, the Middle East and Asia, Dangote’s strategic location on Nigeria’s Atlantic coast, combined with its scale, modern technology and export capability, has enabled it to become an increasingly important source of aviation fuel for European markets.
By Modupe Gbadeyanka
President Bola Tinubu on Thursday directed the Economic and Financial Crimes Commission (EFCC) to vacate the court ordering the freezing of the bank account of the Osun Srate government.
In a statement today by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the President said he’s “deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order” because of its timing, which is just a few days to the governorship election in the state next Saturday.
According to him, actions of an institution of State, especially at the Federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action.
“Since assuming office, I have consistently maintained that anti-corruption and law enforcement agencies must be allowed to discharge their statutory responsibilities independently, professionally, without fear or favour, or political interference. I have therefore deliberately refrained from directing or interfering in the operational activities of the EFCC or any other investigative or prosecutorial agency because I firmly believe that strong democratic institutions, operating within the confines of the law, are indispensable to democratic good governance and the rule of law.
“As President, I am committed to allowing institutions of State to function and take any action they consider necessary in the interest of proper governance without the need for any prior approval. Indeed, that is why institutions are set up by law with clearly defined powers. While I am yet to be fully apprised of the facts which informed the action of EFCC in approaching the court to obtain the said order freezing the Osun State Government account, I am not in the slightest doubt that the timing of the action of EFCC is inauspicious, and therefore I feel compelled to intervene.
“Osun State is only a few days away from its gubernatorial election. Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the federal government is being used to interfere with the election.
“Based on the foregoing premise, I am duty-bound to issue a directive on this issue in consonance with the overriding public interest in preserving public confidence and the integrity, credibility, and fairness of our democratic process.
“Accordingly, I have directed the EFCC to immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard,” the statement stated.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
