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August 7, 2024 CBN Approves Merger Of Unity and Providus Banks

CBN Approves Merger Of Unity and Providus Banks

The Central Bank of Nigeria (CBN) announced on Tuesday the approval of significant financial support to facilitate the proposed merger between Unity Bank Plc and Providus Bank Limited. In a statement issued by its acting Director of Corporate Communications, Hakama Sidi-Ali, the CBN emphasized that this move aims to enhance the stability of the country’s financial system and mitigate potential systemic risks.

“The merger is contingent upon the financial support from the CBN. The fund will be instrumental in addressing Unity Bank’s total obligations to the Central Bank and other stakeholders,” the statement read.

The CBN clarified that its action is in accordance with the provisions of Section 42 (2) of the CBN Act, 2007. This financial accommodation is deemed crucial for the financial health and operational stability of the post-merger organization.

The statement further highlighted that no Nigerian bank currently faces a situation as critical as that of Heritage Bank, which was recently liquidated.

The CBN reaffirmed its commitment to protecting depositors' interests and ensuring the smooth functioning of the banking sector through proactive measures and strategic interventions.

CBN Approves Merger Of Unity and Providus Banks
CBN Approves Merger Of Unity and Providus Banks
August 7, 2024 Army: Soldier Who Shot Teenage Protester Arrested

Army: Soldier Who Shot Teenage Protester Arrested

The Nigerian Army has announced the arrest of the soldier who shot and killed a teenage protester in Zaria, Kaduna State. The incident occurred on Tuesday around 9 am when the soldier, part of a patrol team in Samaru, Zaria, opened fire on Isma’il Muhammad, a recent secondary school graduate, at his home on Sarkin Pawa Street.

Samaru is home to many staff and students of Ahmadu Bello University, Zaria. According to Muhammad's mother, Zainab Sani, he was playing with friends and his brother in front of their house when soldiers approached. Seeing one soldier aiming his gun at them, the children ran inside and closed the gate.

Major General M.L.D. Saraso, GOC 1 Division, visited Muhammad's family to express condolences and assured the community of a thorough investigation. He asked anyone with substantial evidence to come forward and described the incident as "unfortunate," urging the community to remain peaceful and law-abiding.

In a statement on Wednesday, Army Spokesperson Onyema Nwachukwu explained that the soldiers were enforcing a 24-hour curfew imposed on Kaduna and Zaria following violence during the #EndBadGovernance protests. The soldiers encountered hoodlums throwing stones and burning tires despite the curfew. In an attempt to disperse the crowd, a soldier fired a warning shot that accidentally killed Muhammad.

RELATED: #EndBadGovernance Protest: Soldier Kills Teenager In Zaria During Curfew

Nwachukwu confirmed that the soldier involved has been arrested and is undergoing interrogation. The Chief of Army Staff, Toareed Lagbaja, has sent a high-level delegation to visit and condole with Muhammad's family.

August 7, 2024 Protest: 4 Teenagers and Bride-to-Be Killed in Kano, Zaria

Protest: 4 Teenagers and Bride-to-Be Killed in Kano, Zaria

Four teenagers and a bride-to-be were reportedly killed by security agents during the #EndBadGovernance protests in Kano and Zaria. Among the victims was 18-year-old Isma’il Muhammad, who was shot by a soldier in Samaru, Zaria, Kaduna State.

The protests, which began on Thursday, August 1, have seen numerous casualties allegedly at the hands of security operatives. In Kano, incidents occurred at Kofar Nassarawa, Kurnar Asabe, and Rijiyar Lemo.

One of the victims, Abdulkadir Labaran Babah Alfindiki, was killed at Kofar Nassarawa. His mother, Aisha Isah Babah, recounted to Daily Trust, “He left home for his business place. Worried that he didn’t come for lunch, I became uncomfortable. I did not call him nor did I talk to anybody about my worries. Little did I know that he was killed.” She expressed her grief, noting that he was an orphan and she felt powerless to seek justice for him.

Maryam Sani, the mother of 15-year-old Kashifu Abdullahi Gyaranya, who also died during the protest, said, “As he was leaving home, I asked him where he was going, and he said he was going to see his friends. I warned him not to join the protest. He said he wouldn’t, but later, I was informed that he was killed.”

Firdausi Muhammad, a bride-to-be, was reportedly killed by a stray bullet from a police rifle in Rijiyar Lemo during the Saturday protest. She was set to marry the following week. Umar Abubakar Hausawa was also said to have been killed by a police stray bullet at Kofar Nassarawa the same day. His brother, Rabiu Abubakar, shared, “He went to call our younger brothers back from the protest, but he met his untimely death there.”

Police Public Relations Officer, SP Abdullahi Haruna Kiyawa, explained that the police were trying to maintain law and order in Rijiyar Lemo when youths attempted to overpower them. He noted that the youths, defying a state-imposed curfew, tried to loot shops, prompting the police to disperse them. The situation escalated when the youths turned violent, throwing stones at the police.

The police have launched an investigation into the incidents. In the case of 18-year-old Isma’il Muhammad, it was reported that he was playing with friends outside his house when soldiers approached. They ran inside and shut the gate, but Muhammad was still shot by a soldier.

His mother, Zainab Sani, demanded justice for her son. Major General M.L.D. Saraso, GOC 1 Division, visited the family to offer condolences and assured that the incident would be thoroughly investigated. He encouraged the community to remain peaceful and law-abiding.

READ ALSO: #EndBadGovernance Protest: Soldier Kills Teenager In Zaria During Curfew

August 7, 2024 #EndBadGovernance Protest: Soldier Kills Teenager In Zaria During Curfew

#EndBadGovernance Protest: Soldier Kills Teenager In Zaria During Curfew

The #EndBadGovernance protest in Kaduna State turned deadly on Tuesday when a soldier shot and killed a teenager in the Samaru area of Zaria. The victim, 16-year-old Isma’il Muhammad, was reportedly shot inside his father's house while security forces were enforcing a 24-hour curfew imposed by the Kaduna State Government in response to violent protests that erupted in Zaria and Kaduna on Monday.

The Director of Army Public Relations, Major General Onyema Nwachukwu, confirmed the incident in a statement, revealing that the soldier responsible for the shooting has been arrested and is undergoing interrogation. According to Nwachukwu, the incident occurred when hoodlums blocked the road, set fires, and attempted to attack the troops, prompting a soldier to fire a warning shot, which tragically resulted in the death of Muhammad.

Chief of Army Staff Lt. General Taoreed Lagbaja, deeply saddened by the incident, has dispatched a delegation led by Major General Lander Saraso, General Officer Commanding One Division, to visit and offer condolences to the bereaved family.

The incident happened against the backdrop of a curfew imposed on Kaduna and Zaria by the state government. On Monday, the protest took a violent turn as hoodlums, posing as protesters, looted government and private properties. Some protesters were seen carrying Russian flags, expressing their frustration over the current hardship and hunger in the country.

By Tuesday, the Sheikh Abubakar Gumi Central Market in Kaduna was deserted due to the curfew, and shops, filling stations, and markets were shut down.

Samuel Aruwan, the Overseeing Commissioner of the Ministry of Internal Security and Home Affairs, stated that the curfew was necessary to maintain peace. He said Governor Senator Uba Sani imposed the curfew after a meeting with the State Security Council, citing evidence that the protest had been hijacked by criminal elements engaging in looting and property destruction.

Aruwan urged citizens to remain indoors while security forces worked to ensure safety and security, with ongoing monitoring to review the curfew as needed.

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