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News_Naija

Eight Banks Spend N4.61tn On Salaries, Operations

The total expenses of eight Nigerian banks soared to N4.61tn in 2024, driven by increases in both personnel and operating costs. The data reveals a 107.8 per cent rise from N2.2tn in 2023, highlighting the growing financial pressure on the banking sector. This was based on the annual results of the financial institutions filed with the Nigerian Exchange Limited for the period ended December 2024. In the period under review, First HoldCo Plc reported a total of N568.3bn in operating expenses, up from N341.5bn in 2023, reflecting a 66.4 per cent increase year-on-year. Personnel expenses for the group stood at N308.5bn, marking a significant surge from N175.9bn in 2023, a growth of 75.3 per cent. Fidelity Bank Plc saw its total operating expenses increase to N242.7bn from N135.3bn in 2023, representing a 79.3 per cent rise. Personnel expenses rose to N73.5bn, compared to N52.6bn in 2023, reflecting a 39.6 per cent increase. For United Bank for Africa Plc, the bank’s operating expenses rose to N682.9bn, an increase from N372.8bn in 2023, reflecting an 83.2 per cent jump. Guaranty Trust Holding Company reported a sharp rise in its operating expenses, which surged to N259.6bn from N166.2bn in 2023, reflecting a 56.2 per cent increase. Personnel expenses for the group hit N85.4bn, more than doubling from N45.1bn in the previous year, a 89.3 per cent increase. Zenith Bank Plc experienced an increase in operating expenses to N586.6bn, up from N291.7bn in 2023, representing an 101.1 per cent rise. Personnel expenses for Zenith Bank stood at N204.2bn, compared to N124.4bn in 2023, an increase of 64.2 per cent. Wema Bank also recorded a significant rise in both operating expenses and personnel expenses, which surged to N77.5bn from N45.9bn in 2023, marking a 68.9 per cent rise. Personnel expenses stood at N45.5bn, a 70.3 per cent increase from the previous year’s N26.8bn. At FCMB Group Plc, operating expenses surged to N48.3bn, an increase from N32.7bn in 2023, reflecting a 47.8 per cent rise. Personnel expenses for FCMB grew to N79.3bn, up from N49.6bn in 2023, a growth of 59.9 per cent. Finally, Access Holdings Plc reported N960.8bn in operating expenses, up from N465.7bn in 2023, a 106.3 per cent increase. Personnel expenses stood at N381.4bn, a sharp rise from N167.9bn the previous year, showing a 127.5 per cent increase. The PUNCH reported that the combined operating expenses of 10 Nigerian banks rose by 42.51 per cent to N3.23tn in 2023 compared to N2.26tn in the previous year.

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Futbol

What Can Happen & When In Final Weeks Of Scottish Season?

Celtic are 13 points clear with seven games left as they close in on a 13th Scottish top-flight title in 14 seasons. Brendan Rodgers' side need – at most - three more wins to secure the trophy. But they could be confirmed as champions as early as next Saturday, should they beat St Johnstone and Kilmarnock, and Rangers lose to Hibernian this weekend. However, if the Ibrox side win, they will be guaranteed the second Champions League place regardless of any another results. Whoever finishes third and fourth will be in Europe, as will the division's fifth-placed side should the Scottish Cup winners be one of the Premiership's top four. The composition of the top and bottom six will be decided by the end of next weekend at the latest – more on that here – but the fight to avoid relegation will continue. Bottom side St Johnstone are currently five adrift of Dundee and six behind Kilmarnock. Ross County are nine clear, with Motherwell and St Mirren a further three points ahead. With the teams all playing each other again post-split, there is still plenty scope for movement between now and 18 May. Falkirk are eight points clear of Ayr United and Livingston with 15 points left to play for. They are close to securing consecutive crowns. So close that Livingston manager Davie Martindale has already conceded the title. Nothing can be decided this weekend but a maximum of eight points from their final five games would do it for John McGlynn's leaders. In fact, they could even win it as early as next Friday should results go their way on Saturday. Ayr and Livingston do have play-off places tied up and look set to be joined by Partick Thistle, who have a six-point cushion over Raith Rovers and an advantage of seven over Morton. The battle at the bottom is far less clear cut. Airdrieonians - rooted in 10th all season - are now within five points of Hamilton Academical, six off Dunfermline Athletic, and nine off freefalling Queen's Park. The bottom side goes down, while the team in ninth will be in a play-off semi-final with the fourth-placed team in League 1. Arbroath are in good shape at the summit - eight clear with 15 to play for. Victory on Saturday would be all but enough should Stenhousemuir and Cove Rangers lose at home, with the former visiting Gayfield next Saturday - live on the BBC. Regardless of other results, another eight points will seal an immediate return to the second tier. Cove and Stenhousemuir seem almost certain to be in the play-offs, with Queen of the South, Alloa Athletic, Montrose and Kelty Hearts all still in the mix to take the final place. Dumbarton have already been relegated - a 15-point deduction for entering administration scuppering their season. Inverness Caledonian Thistle are still battling to avoid the same punishment causing them similar strife. They head Annan Athletic on goal difference in the fight to avoid the relegation play-off place, with struggling Kelty and potentially even Montrose not yet safe. The title is a two-way battle between Peterhead and East Fife, with the former one point clear with five to play. Could it go down to their penultimate-day meeting in the north east at the end of April? Whichever one misses out will be in the play-offs, with Edinburgh City and Elgin City front runners to join them given they both hold a six-point advantage over Spartans and a lead of seven over Stirling Albion. Bonnyrigg Rose are three adrift of Forfar Athletic at the bottom, having been deducted six points after issues with their pitch and, consequently, their licence. Given they play the top two in their next two matches, before visiting Forfar, it will be a big few weeks for Rose if they are to avoid running the risk of dropping back out of the league. Clyde and Stranraer are probably just out of reach in seventh and eighth. Brora Rangers and Brechin are locked on the same points with two games remaining in the Highland League. But Brora's superior goal difference means consecutive wins would secure the crown and a play-off against East Kilbride, who retained their Lowland League title on 2 April.

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News_Naija

Flight Disruptions Likely Over NiMet Workers Strike

Passengers at the Murtala Muhammed Airport, Lagos, and the Nnamdi Azikiwe International Airport, Abuja, have expressed worry as workers of the Nigeria Meteorology Agency vowed to embark on a nationwide indefinite strike from midnight on Tuesday. The development, according to operators and experts in the sector, could lead to flight disruption across the country should the strike linger. While some passengers are confused about when the strike would begin, many are already jittery about boarding an aircraft. In a letter obtained by The PUNCH, the Union of Air Transport Employees, the Association of Nigeria Aviation Professionals, and the Amalgamated Union of Public Corporations, Civil Service Technical, and Recreational Services Employees, accused NiMet management of failing to honour agreements aimed at resolving prolonged remuneration issues. “As you are all aware, our unions have strived strenuously over the past few years to alleviate the exceedingly unjust remunerations conundrum that has visited extreme poverty and consequent untold hardship on NiMet workers. These efforts have been largely without substantial results,” the letter read. The unions expressed frustration over management’s failure to implement a partial agreement reached on January 28, 2025. “You are equally aware that the agreement between the management and our unions since 28th January 2025 towards partial amelioration of the above-stated condition has been honoured largely only in the breach.”  The PUNCH understands that all flight operations must get NiMet clearance for favourable weather before taking off from the airports. Passengers who spoke with one of our correspondents at the Lagos airport on Tuesday expressed fear, thinking that the workers might have abandoned their duty posts already. “I have prayed three times today. I am fasting at the moment, and I won’t break this fast until I land at my destination. What I am going to do is very important; if not, I will shelve this journey,” a traveller, Mrs Adedire Airin, stated. She added that she had questioned several airline and airport staff about the development, but none of them had been able to give a convincing explanation as to when the strike would begin. “I have handed everything over to God, but I am calling on the government to ensure that an accident does not happen,” Airin stated. Another traveller, who simply identified herself as Aderinsola, also expressed worry about the development, wondering when the strike would begin, as she prayed for safety. “I should have been flown since yesterday, and I can’t allow any further delay. Some people have said the strike starts today, while some say it will start on Wednesday,” she stated. In Abuja, a passenger, John Thompson, said he was told the strike would begin by midnight on Tuesday, and urged the unions to shelve the plan. “We’ve been told here at the airport that the strike will start on Tuesday by midnight, so we want to plead with the unions to give peace a chance and dialogue more with the authorities,” he stated. However, an industry expert, Muhammed Badamosi, said the strike may not be able to totally stop flight operations considering the level of technology available to the modern pilot. “Nimet information is as important as any other information the pilot needs for operation, but the truth is that technology has made their service almost obsolete now, and it doesn’t stop the pilot from flying. From my house here, through an app, I can check all the weather in the world, including the ones sent to pilots. “Remember that NiMet is using the same technology which is available to pilots, Yes, you need NiMet’s briefing but even without that, you can still operate. We don’t call it forecast per se, because when you have radar, it can give you the position of the weather and aircraft too for you to plan for flight even as a pilot,” he said. Repeated phone calls and text messages to the Director of Public Affairs and Consumer Protection at the Nigeria Airspace Management Agency, Abdullah Musa, to ascertain if there would be flight operations at the airport were futile as he didn’t respond to questions. Meanwhile, a source at the Nigeria Airspace Management Agency, who works at the control tower, expressed doubt that the entire agency would be shut down. The source who could not give his name because he was not empowered to address the press on issues relating to the agency, stressed that NAMA would receive skeletal weather reports from NiMet and that would be what the agency would continue to make available to airlines for operations. He said, “I think when agencies declare such a total strike, some key persons still stay back, such as someone from the forecast department, and I think that is where the little information we will be operating with would be coming from.” Efforts to get the President of the National Association of Aircraft Pilots and Engineers, Galadima Abednego, on the possible impact of the strike were unsuccessful as he neither picked up his calls nor responded to text messages. When asked what the situation would look like, perhaps, would airlines be able to operate under the circumstances of the strike, the Director of Public Affairs and Consumer Protection at the Nigeria Civil Aviation Authority, Michael Achimugu, said he would get back to our correspondent. Also, Tunde Moshood, the spokesperson of the Minister of Aviation and Aerospace Development, Festus Keyamo, promised to get back to our correspondent on what the ministry was doing as regards the strike but never got back till press time. Speaking with the Managing Director of Aero Contractors, Ado Sanusi, he stressed that it was the standard operational procedure for airlines to get weather reports for aircraft to either land or take off. He, however, could not confirm if there would be flight operations on Wednesday or not. “It is a standard operational procedure that if there is no weather report there is no how an aircraft can either land at an airport or take, but I cannot confirm if there will be flight operations tomorrow or not, I can not answer that question. “NiMet is responsible for the weather forecast, and we all know that. But whether NAMA has now arranged with them or not, I don’t know! But if there is no weather report, there cannot be flight operations,” he stated.

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News_Naija

Stray Bullet Kills Teen At Lagos Anti-cultism Walk

Tragedy struck on Monday when a 16-year-old boy, identified simply as Mustapha, was killed by a stray bullet during a suspected cult clash in the Oyingbo area of Ebute Metta, Lagos State. PUNCH Metro learnt that the incident occurred during a peace walk organised by some youths to address rising cult-related violence in the community. It was gathered that the walk had just concluded when an argument broke out among them. A resident, who spoke to our correspondent on the condition of anonymity, said the argument degenerated as a suspected cultist pulled out a firearm and shot indiscriminately, leading to Mustapha getting hit by a stray bullet. Another resident told PUNCH Metro that the teenager was not affiliated with any cult group. “Mustapha just came out to support the walk. He was not part of any gang. He is a calm and respectful boy. He was taken to the hospital after the bullet hit him but he died on the way,” the source said. The incident was said to have caused panic in the community, while the event ended abruptly. Meanwhile, our correspondent learnt that one of the organisers, who was hit by a bullet, is currently in critical condition. The state Police Public Relations Officer could not be reached for a reaction as calls made to his telephone were not responded to. A text message sent to him had yet to be replied to as of the time this report was filed. It would be recalled that PUNCH Metro reported that tension gripped the Idimu area of Lagos State on Sunday after residents discovered the bodies of two men, one of whom had been beheaded in a cult-related attack. PUNCH Metro learnt that the killings occurred late Saturday night, but the corpses were only discovered on Sunday morning along Oladun Road. This also drew the attention of stunned residents and passersby who gathered around the bodies.