FirstBank Nigeria has commenced a nationwide sensitisation roadshow to educate its legacy pensioners on an approved Pension Settlement Framework designed to provide a final and sustainable resolution to longstanding pension-related matters.

The engagement programme, which began on August 18, 2026, is scheduled to run through September 3, 2026, covering six major cities across Nigeria—Lagos, Ibadan, Benin, Enugu, Abuja and Kaduna.

Framework targets long-standing pension concerns

The Pension Settlement Framework is a one-off settlement initiative developed for eligible legacy pensioners of FirstBank who retired under the Bank’s former defined benefit pension scheme.

According to the Bank, the framework was developed in collaboration with the Nigeria Union of Pensioners (NUP) and under the guidance of the National Pension Commission (PenCom).

The initiative is intended to bring closure to longstanding pension-related issues while establishing what the Bank described as a fair, transparent and sustainable resolution for eligible beneficiaries.

Rather than relying solely on written communication, FirstBank said the nationwide roadshow is designed to give pensioners an opportunity to interact directly with representatives of the Bank and other relevant stakeholders.

Six-city engagement begins

The roadshow is being taken to six locations to ensure that pensioners across different regions have access to information and clarification on the settlement framework.

The selected locations are:

Lagos

Ibadan

Benin

Enugu

Abuja

Kaduna

At the sensitisation sessions, pensioners are expected to receive detailed explanations of the framework, including its scope, eligibility requirements and benefits.

The sessions will also provide an avenue for pensioners to raise questions, express concerns and obtain clarification on issues surrounding the settlement process.

FirstBank: Pensioners deserve direct engagement

Commenting on the initiative, Olumuyiwa Olulaja, Group Head, Human Capital Management & Development, FirstBank Group, said the Bank recognises the contributions of its former employees to its growth and development.

Olulaja said the approved framework reflects FirstBank’s determination to engage constructively with its pensioners and resolve longstanding issues in a fair and transparent manner.

“We value the immense contributions made by our pensioners to the growth and success of the institution over the years,” he said.

According to him, the settlement framework is intended to provide closure to the pension-related matters, while the roadshow creates an important platform for pensioners to understand the initiative and its benefits.

Roadshow puts transparency at centre of settlement

The nationwide engagement comes against the backdrop of the importance of clarity and stakeholder confidence in resolving legacy pension obligations.

By taking the sensitisation exercise directly to pensioners in different parts of the country, FirstBank is seeking to ensure that eligible beneficiaries are adequately informed before making decisions regarding the settlement framework.

The Bank said the initiative reinforces its commitment to stakeholder engagement, transparency and sustainable relationships, particularly with former employees whose service contributed to the institution’s long history.

PenCom and NUP partnership adds institutional weight

The involvement of the National Pension Commission and Nigeria Union of Pensioners gives the initiative a broader stakeholder dimension.

While PenCom provides regulatory guidance within Nigeria’s pension architecture, the NUP represents pensioners’ interests. Their involvement therefore provides an important framework for communication between the Bank and beneficiaries.

For eligible legacy pensioners, the roadshow represents an opportunity to obtain information directly rather than relying on informal interpretations of the settlement arrangement.

Beyond pensions: FirstBank’s people-centred strategy

FirstBank also linked the initiative to its broader people-centred approach to human capital and stakeholder management.

The Bank said its commitment to its people extends beyond remuneration to include continuous learning, career development, leadership development and personal wellbeing.

It noted that its workforce development strategy covers areas including Employee Learning and Development, Talent and Leadership Development, Career Mobility and Succession Planning.

Among the initiatives highlighted by the Bank is FirstAcademy, its corporate learning and development platform, which provides learning through classroom, e-learning, mobile learning and blended approaches.

The Bank also operates leadership and development programmes, a Graduate Training Programme and a Technology Academy as part of its efforts to develop a future-ready workforce.

A 132-year legacy meets a new pension chapter

FirstBank, which describes itself as West Africa’s premier financial institution and a leading financial inclusion service provider, said the pension settlement initiative reflects its recognition of the role former employees played in building its 132-year legacy.

The roadshow therefore goes beyond explaining a financial settlement. It represents an attempt to strengthen communication with a stakeholder group whose careers contributed to the development of one of Nigeria’s oldest financial institutions.

Pensioners urged to participate

FirstBank has encouraged eligible pensioners and other relevant stakeholders in the six designated locations to participate in the sensitisation sessions.

The Bank said the direct engagement would enable beneficiaries to better understand the approved Pension Settlement Framework, seek clarification on outstanding concerns and engage relevant representatives on the way forward.

With the roadshow running until September 3, 2026, attention will now focus on how effectively the nationwide engagement translates the approved framework into clear information and confidence among the affected legacy pensioners.

The broader significance is clear: after years of pension-related concerns, FirstBank is using a nationwide face-to-face engagement strategy to move the settlement process from regulatory approval and documentation to direct communication with the pensioners expected to benefit from it.

The post Pensioners’ Matter: FirstBank Takes Settlement Battle to Six Cities appeared first on Ameh News.

Gusau made this known on Thursday at a press briefing at the ADC secretariat in Gusau, where he addressed issues surrounding the party’s structure and governorship candidacy in the state.

He said the party’s position was based on its constitution and the rule of law, adding that the state chapter would continue to pursue its affairs through lawful and constitutional means.

“For the avoidance of doubt, I want to make our position absolutely clear. Hon. Ibrahim Salisu Mafara is the ADC gubernatorial candidate for Zamfara State,” Gusau said.

The post 2027: Mafara remains our governorship candidate — Zamfara ADC chairman appeared first on Ameh News.

Jegede communicated his decision in a resignation letter dated August 7, 2026, addressed to the chairman of the PDP in Ward 11, Owode/Imagun Ward, Akure South Local Government Area, Fabiyi Kole Adewale.

The former governorship candidate stated that his departure from the party took immediate effect.

“Kindly take this as a formal notice of my resignation as a member of the Peoples Democratic Party in the state, effective immediately,” Jegede wrote.

The post Ex-Ondo governorship candidate, Jegede resigns from PDP appeared first on Ameh News.

The minister gave the order on Thursday while inspecting parts of the bridge where vandals removed bolts, expansion joints and iron bars holding together the bridge.

Umahi also inspected the Second Niger Bridge, whose base had been eaten into by erosion, endangering motorists who drive on the bridge, oblivious of the hollow underneath.

While inspecting the First Niger Bridge, Umahi said: “We saw this vandalisation on social media. We want to thank members of the public for bringing this to our attention.

The post Nigerian govt to install streetlights, camera on Niger Bridge to forestall theft of components appeared first on Ameh News.

The state Commissioner for Information, Obed Nuhu, disclosed this on Thursday during an interview on Channels Television’s The Morning Brief.

Nuhu said the attack occurred in three different locations and was suspected to have been carried out by the Lakurawa and Boko Haram groups.

“No such (contact with the kidnappers) has happened. We have not had any interactions with them but the suspicion is the Lakurawas as they call themselves and the Boko Haram. It happened in three different locations around that kingdom,” he said.

The commissioner also said the government was yet to establish the exact number of people abducted.

He explained that officials were still gathering information and would not provide figures until they had been properly verified.

Following the attack, Niger State Governor Umaru Bago directed security agencies to work towards rescuing the victims and restoring peace in the affected communities.

The state government said a joint security operation had been launched to assess the situation, track the attackers and rescue those taken away.

It said details of the security operation would not be disclosed because of the sensitive nature of the mission.

President Bola Tinubu has also ordered security and intelligence agencies to begin an immediate and coordinated operation to rescue the abducted worshippers.

The President gave the directive to the Armed Forces, the Nigeria Police Force, the Department of State Services and other relevant agencies, according to a statement by his spokesman, Bayo Onanuga.

The post No contact yet with abductors of Niger worshippers – Commissioner appeared first on Ameh News.

The appeal was made by the Chairman of the Osun State Election Violence Relief Committee and Speaker of the State House of Assembly, Adewale Egbedun, during the committee’s inaugural meeting on Thursday.

Egbedun said the committee had begun its assignment by reviewing complaints already received and collated, while creating an opportunity for other affected persons to present their cases for consideration.

He explained that the committee’s responsibilities included receiving complaints, verifying genuine claims and ensuring that approved assistance reached people who suffered losses during election-related incidents.

The post Osun election violence committee opens relief claims for victims appeared first on Ameh News.

This was contained in a press statement signed by the Command’s Public Relations Officer, SP Lawan Shiisu Adam, and issued to newsmen.

He said the Commissioner gave the warning on Thursday during his maiden conference with members of the Command Management Team, Area Commanders, Divisional Police Officers (DPOs), Heads of Departments and other senior officers across the state.

He urged the officers to uphold professionalism and integrity in the discharge of their duties.

The post Do not tarnish our image – Police warns officers in Jigawa against misconduct appeared first on Ameh News.

The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said the development was making it increasingly difficult for marketers to plan their businesses amid volatility in the international oil market, government policies and exchange rate movements.

The Dangote refinery had on Wednesday increased its gantry price of PMS by N15 per litre, from N1,185 to N1,200, effective August 26, 2026. The latest adjustment came barely five days after the refinery raised its petrol price from N1,165 to N1,185 per litre.

Reacting to the development, Ukadike acknowledged that the latest increase was coming at a time when international crude oil prices were declining. He said marketers were contending with several factors that continued to create uncertainty in the downstream oil market.

“We are facing the challenges of the volatility in the market. There are policies of the government, policies of the international market, and the exchange rate. These are inherent dispositions to the increase in pump prices. We are not refiners to be able to determine the price of petroleum products,” he stated.

Ukadike, however, said Dangote had previously responded to international market movements by reducing its prices. “But I also believe that Dangote has been consistent in terms of reducing its price in line with the international market rate. With this situation now, we cannot, at this particular point in time, structure our business. It’s going to be too difficult for us to structure our business,” he noted.

The latest increase came amid heightened volatility in the international oil market, with crude prices falling on Tuesday as investors assessed expanded United States sanctions against Iran and the potential impact on global supplies.

Reuters reported that oil prices dropped about four per cent on Tuesday, with Brent crude falling to $88.43 per barrel and West Texas Intermediate dropping to $81.67 per barrel. The market reaction followed the latest US sanctions against Iran, although analysts warned that prices could rebound if the conflict escalates and threatens supplies through the Strait of Hormuz.

Ukadike said the continuing tension between Iran and the United States could further contribute to price irregularities in Nigeria. “But I want to thank God for his infinite mercies that we are still pushing. The more the Iran and the United States crisis continues to persist, the more we’ll be having these irregularities in price.”

He added that independent marketers were also being affected by fluctuations in crude prices and other financial factors. “Also, bear in mind that the price of crude oil is determined by the international market. So, for all the independent marketers, we will continue to strive.

“Prices have been fluctuating, and we are still loading. PMS is now close to N1,290, N1,300 or N1,250. So, the price of petrol will continue to be volatile as long as the price of crude is not stable and other factors relating to the financial situation,” he added.

The IPMAN official said the impact of the price increases was ultimately being felt by marketers and consumers, saying, “Independent marketers and Nigerians are the ones bearing the brunt of these rises and fluctuations, because whatever happens will get to the pump price, which will continue to affect inflation in the country.”

The latest Dangote adjustment means the refinery has increased its PMS gantry price by N35 per litre in less than a week, from N1,165 to N1,200. The price movement is expected to continue to influence retail petrol prices as marketers factor in the cost of products, transportation, depot charges and other operating expenses.

Dangote Petroleum Refinery, with a nameplate capacity of 700,000 barrels per day, remains a major source of petrol supply to the Nigerian downstream market. Its pricing adjustments have therefore continued to attract close attention from marketers and consumers.

Other dealers with the Petroleum Products Retail Outlets Owners Association of Nigeria had also expressed concern over the volatility in the prices of refined products, as they stressed that this does not only affect the end consumers, but also distort businesses in the midstream.

They pointed out that price fluctuations often lead to losses to oil marketers, noting that as consumers groan over the hike in petrol prices, dealers also face mounting losses due to the upswing in the cost of refined products, occasioned by the galloping prices of crude in the global market.

The post Marketers decry uncertainty as petrol nears N1,300/litre appeared first on Ameh News.

At the Central Bank of Nigeria’s (CBN) primary market auction on Wednesday, investors submitted N3.63tn for the 364-day T-bill, representing 95.9 per cent of the N3.79tn total bids received across the three maturities.

The demand came despite the CBN lowering the stop rate on the one-year instrument by 44 basis points to 17.15 per cent, from 17.59 per cent at the previous auction.

The auction results point to a significant shift in investor appetite towards longer-dated government securities, even as demand for shorter-tenor instruments remained subdued.

The CBN had offered N700bn across the three maturities, comprising N100bn each for the 91-day and 182-day bills and N500bn for the 364-day bill.

However, total subscriptions reached approximately N3.79tn, more than five times the amount offered.

The PUNCH that the 364-day instrument was the clear outlier at the auction, receiving bids equivalent to 7.26 times the amount offered.

The CBN ultimately allotted N638.19bn, exceeding the N500bn offer by N138.19bn. Despite the additional allotment, only about 17.6 per cent of total bids submitted for the instrument were accepted.

Investors quoted yields between 16.00 per cent and 19.05 per cent, but the CBN settled at 17.15 per cent, suggesting that the level of demand allowed the regulator to reject more expensive bids.

The development is significant because the CBN achieved a lower borrowing rate even after receiving exceptionally strong demand for the security.

The contrast was stark at the shorter end of the curve. The 91-day bill attracted N103.32bn in subscriptions against N100bn offered. The CBN allotted N89.10bn at an unchanged stop rate of 16.30 per cent.

The 182-day bill performed even more weakly, attracting only N52.93bn against N100bn on offer. The CBN allotted N35.59bn, while the stop rate remained at 16.50 per cent.

Secondary-market yields for the three instruments stood above their respective auction stop rates, at 17.45 per cent for the 91-day bill, 17.05 per cent for the 182-day bill and 17.24 per cent for the 364-day bill.

According to a financial sector analyst, Jimbe Asalor, the concentration of bids in the one-year instrument suggests investors may be placing greater value on locking in relatively attractive yields over a longer period rather than repeatedly rolling over shorter-term securities.

He noted that the latest auction also demonstrates “the CBN’s ability to borrow more cheaply when demand is concentrated around a particular maturity.”

He added that by accepting N638.19bn on the 364-day bill at 17.15 per cent, the CBN borrowed above its initial offer while simultaneously cutting the rate by 44 basis points.

“The nine-basis-point difference between the auction stop rate and the 17.24 per cent secondary-market yield also indicates that the one-year segment is now trading relatively close to market expectations.”

A Lagos-based consultant economist, Chukwunonso Iheoma, said if the preference for longer-dated treasury bills persists, the development could provide further support for a gradual decline in government borrowing costs while strengthening expectations of eventual interest-rate cuts.

The post CBN cuts T-bill rate amid N3.63tn demand appeared first on Ameh News.

Speaking on Thursday at the 55th Annual General Meeting of the association’s Apapa Branch in Lagos, MAN President, Francis Meshioye, pushed for stronger safeguards against multiple taxation and levies under the new tax regime.

Meshioye called on Lagos to provide manufacturers with a single system for tax assessment and payment to eliminate duplication and uncertainty across government agencies and levels of administration.

“The 2025 Tax Law gives us a once-in-a-generation opportunity to reset this. The law seeks to harmonise, digitise, and reduce friction. But for it to work for manufacturers, especially those in trade corridors like Apapa, we need deliberate safeguards,” he said.

He urged Lagos to publish a harmonised tax code that would provide one assessment authority and one payment portal for manufacturers.

“We urge Lagos State to be the first to publish a harmonised tax code aligned with the new law. One entity to assess, one portal to pay. This will cut compliance cost significantly for our members,” Meshioye said.

The MAN president said the reform would help address the multiple taxes and levies that manufacturers currently face across federal, state and local government levels: “In Apapa, taxation comes from everywhere. A truck moving raw materials from the port to Amuwo Odofin can be stopped by multiple agencies before it gets to the factory gate. That is in addition to corporate tax, VAT, and state levies.”

Meshioye also called for a “No-Tout Zone” policy in Apapa, Amuwo and Kirikiri, saying the government must protect legitimate revenue collection from illegal levies imposed by non-state actors along industrial and port corridors.

He said the Lagos State Government should also work with the Nigerian Ports Authority and the Nigerian Shippers’ Council to create a single bill for port-related charges so that manufacturers would not pay multiple fees to move one container.

The MAN president noted that the association was not seeking tax exemptions but wanted manufacturers’ paid taxes to translate into better infrastructure and security.

“We are asking that the tax we pay translates to motorable roads, working drainage, and security in our clusters. That is the social contract,” Meshioye said.

He further urged the Joint Revenue Board to ensure that states did not use the new tax regime to introduce additional taxes but instead consolidated and simplified existing obligations.

In a separate interview, Meshioye said effective implementation of the new tax laws would expand the tax base while easing the burden on compliant businesses.

“We want an effective implementation of that new law that we have set up, that took effect from January this year. You see, we have had multiple taxes in the past. We had them on multiple levels,” he said.

He said sub-national governments needed to domesticate and fully implement the new framework for manufacturers to enjoy the intended relief.

“And once it’s signed, the sub-national should see it is fully and effectively implemented. If this is done, the body will be laser-focused. Many other people are not paying taxes to come to the tax net, and the relief that is expected to give to the manufacturing business will be achieved,” Meshioye said.

He said the impact of the reform should become measurable through increased business expansion, investment and employment: “So, if it is implemented and you are finding that businesses are expanding, more investment is coming up, and employment level is reduced, then we will have done something.”

The Chairman of MAN, Apapa Branch, Raphael Danilola, said multiple taxation, regulatory burdens, high interest rates, energy costs, insecurity and logistics challenges continued to constrain manufacturers.

“Ultimately, our concern is simple: how do we ensure that tax reform strengthens manufacturing competitiveness rather than adds another layer of pressure on businesses already operating in a challenging environment?” Danilola queried.

He urged the Lagos State Government to review the mandates of its agencies to eliminate duplication and harmonise national and state environmental laws to reduce compliance costs for manufacturers.

Danilola also called for the implementation of the new tax policies and assessment of their impact on state and local governments.

The post MAN urges Lagos to harmonise tax code appeared first on Ameh News.