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Wema Bank Declares N21.43 Billion Dividend for 2024

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Wema Bank Plc has announced a dividend of N21.43 billion, equivalent to N1.00 per share, to its shareholders for the financial year ending December 31, 2024. The bank released its audited results for the year, revealing a significant profit before tax of N102.517 billion, marking a 134.7% increase compared to N43.663 billion in 2023. Profit after tax rose by 140.13%, from N35.93 billion in 2023 to N86.29 billion in 2024.....KINDLY READ THE FULL STORY HERE▶

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The bank’s gross earnings also saw a substantial increase of 91%, reaching N433.434 billion, compared to N226.914 billion in the previous year. Total deposits grew by 35.65% to N2.524 trillion, while total assets rose by 60.04% to N3.585 trillion.

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Babatunde Shobamowo, CEO of Global Assets Management, highlighted that Wema Bank had achieved its highest dividend payout growth, reaching 104% in 2024, surpassing its competitors in the banking sector with over 60% capital appreciation.

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Boniface Okezie, the National Chairman of the Progressive Shareholders Association, praised the dividend as a sign of sound management and a reflection of the bank’s strong standing in the market. He encouraged shareholders to reinvest the dividend when the bank’s capital raise opens.

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Wema Bank’s Group Managing Director, Moruf Oseni, expressed confidence in the bank’s ability to exceed shareholders’ expectations as it enters 2025. He also mentioned that the bank is focused on meeting the Central Bank of Nigeria’s recapitalization requirements through a rights issue and private placement, which will strengthen its position for future growth.

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Edo Police Nab Suspected Kidnappers Of Two Doctors’ Brothers.

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The Edo State Police Command has confirmed the arrest of three suspected kidnappers linked to the abduction of two medical doctors’ brothers in Auchi, Etsako West LGA.....KINDLY READ THE FULL STORY HERE▶

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The victims, Dr. Abu Ibrahim Babatunde and his younger brother, Dr. Tahir Abu Emhoye, were kidnapped on January 2, 2026, around 7:30 p.m. on City Pride Road, Igbira Camp, Auchi. While Dr. Tahir, a fresh graduate from Ambrose Alli University (AAU), Ekpoma, was killed by the abductors, Dr. Babatunde, a housemanship staff at Edo University Teaching Hospital, Auchi, was released on January 15 after a ₦50 million ransom was paid.

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The suspects—Saminu Kawujie, Idris Abubakar, and Sani Abubakar—were apprehended in separate operations. Kawujie was arrested on February 3 at Warrake Forest, Owan East LGA, during a bush-combing operation carried out by police, local hunters, and vigilante groups. Items recovered from him included two knives, two mobile phones, a UBA ATM card, and ₦20,250. Identification parades confirmed him as one of the abductors.

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Idris Abubakar and Sani Abubakar were arrested on February 8 at the Specialist Hospital, Auchi. Both were identified as part of the gang, with Idris specifically linked to receiving the ransom for Dr. Babatunde’s release.

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ASP Eno Ikoedem, the police spokesperson, said investigations are ongoing to dismantle the entire criminal network responsible for the Auchi kidnappings. Commissioner of Police Monday Agbonika assured the public that all kidnapping cases will be pursued to completion, with continued intelligence-led policing and bush-combing operations across the state.

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Jigawa Speaker Elected Chairman Of Progressive Speakers Conference.

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The Speaker of the Jigawa State House of Assembly, Rt. Hon. Haruna Aliyu Dangyatin, has been elected Chairman of the Progressive Speakers Conference, a forum of APC House Speakers nationwide.....KINDLY READ THE FULL STORY HERE▶

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Dangyatin assumed the position during the conference’s annual congress and executive elections held in Abuja. The body aims to enhance coordination among APC Speakers, promote party ideals, foster unity, and support democracy, peace, and national development.

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Other key positions filled include the Ebonyi State Assembly Speaker as Deputy Chairman (South), the Nasarawa State Assembly Speaker as Deputy Chairman (North), and the Ondo State Assembly Speaker as Treasurer. Six zonal vice chairmen were also elected, including Ogun State’s Rt. Hon. Oludaisi Elemide for the South-West zone and Plateau State’s Speaker for the North-Central zone. The new executive members are set to be sworn in on Monday, February 9, 2026.

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Jigawa Governor Malam Umar Namadi congratulated Dangyatin, calling the election well deserved and expressing confidence that he would strengthen collaboration among APC members ahead of the 2027 general elections.

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Prof Fasina Officially Steps Down As FUOYE Vice Chancellor.

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Professor Abayomi Fasina has officially stepped down as Vice-Chancellor of the Federal University Oye-Ekiti (FUOYE).....KINDLY READ THE FULL STORY HERE▶

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Speaking at FUOYE’s 10th Convocation on Saturday, Prof. Fasina highlighted the university’s growth under his leadership, noting that it has become the fourth most sought-after university in Nigeria and has steadily improved in national rankings.

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“Our progress is reflected in the 20-point agenda and transformation blueprint we have implemented since I assumed office in 2021,” he said.

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He also emphasized the university’s infrastructural development, including what he called the “Blue Roof Revolution,” and expressed gratitude to President Bola Tinubu and others for their support during his tenure.

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“As a former Deputy Vice-Chancellor, you are already part of our success story. I am confident FUOYE will continue to thrive under your leadership,” Fasina added.

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A total of 7,684 students graduated at the convocation, including 7,396 undergraduates—with 131 earning First Class honours—and 288 postgraduates.

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