Nine Nigerian banks collectively earned N4.85tn in interest income on loans and advances to customers in the first nine months of 2024, marking a growth of 114.95 per cent compared to N2.26tn recorded in the same period of 2023.

Access Holdings led the industry with N1.13tn in interest income as of September 2024, up from N458.41bn in the corresponding period of 2023. The 146.4 per cent surge reflects the bank’s lending strategy and expansion of its loan portfolio.

Zenith Bank followed closely, reporting an interest income of N1.07tn, more than doubling its N408.66bn figure from the previous year, representing an increase of 161.8 per cent.

FBN Holdings earned N915.35bn in interest income year-to-date in 2024, a 128.1 per cent increase from N401.33bn recorded in the same period of 2023.

Fidelity Bank recorded an interest income of N450.00bn, up from N260.51bn in 2023. The 72.7 per cent growth reflects the bank’s efforts to deepen its presence in the corporate and retail lending markets.

Guaranty Trust Holding Company reported an interest income of N392.33bn, an 84.8 per cent rise from N212.30bn in the prior year.

FCMB Group generated N317.53bn in interest income, up from N183.55bn in 2023. This 73 per cent increase is attributed to its targeted approach to scaling its credit portfolio to meet customer needs.

Stanbic IBTC Holdings recorded N283.95bn in interest income as of September 2024, representing a growth of 81.7 per cent from N156.24bn in the same period of the previous year.

Wema Bank posted an interest income of N149.28bn, an increase of 76.8 per cent from N84.42bn in 2023.

Sterling Bank recorded N139.86bn in interest income, up from N90.45bn in the same period of 2023. This 54.6 per cent growth reflects the bank’s focused efforts to grow its credit portfolio despite economic challenges.

A Catholic Reverend’s Father has allegedly shot a boy dead after the latter set off knockouts within the church premises.

The incident which happened during the New Year Mass held on January 1, 2025, in Amaimo, Ikeduru Local Government Area of Imo State, has attracted reactions from social media users.

However, PUNCH Online couldn’t verify the name and parish of the priest and the name of the deceased.

In a Facebook post shared via the handle, ‘For The Love Of Anambra,’ on Wednesday, it quoted eyewitness accounts, reporting that after the deceased set off the knockouts, “the priest, whose identity remains undisclosed, picked up a firearm and fatally shot him.

“The incident has left the community in shock and mourning, with residents expressing outrage and demanding a thorough investigation to uncover the facts behind the unfortunate event.”

When contacted by our correspondent on Thursday, the spokesperson for the Imo State Police Command, Henry Okoye stated that the command is already aware of the incident.

Okoye added that an investigation has been launched into the incident.

“We have launched a detailed investigation to ascertain the remote facts surrounding the incident.

“Further development on the case will be communicated in due course, please,” the police spokesperson stated in a message.

Reacting to the incident, a Facebook user, Malachy Chukwunyereugo, wrote, “He will spend the rest of his life in prison.”

Another Facebook user, Lyn Chy, lamented, “The fact that a Reverend father owns a gun it’s somehow [sic].”

Another user, Peace Ijeoma wrote, “It’s disheartening to see how religious bigots are defending the priest. May we try to be lovers of God and not lovers of the men of God this 2025. Rip to the boy.”

On X, a tweep identified as Bloc Chief, with the username #blochief, shared his amusement.

He tweeted, “I thought this happens in the USA? How can this happen in Imo? Mehn.”

Another tweep, identified as Rise above hat, but tweeting as #asababoi2man, wrote, “Maybe he has [been] abducted before by gunmen… so he felt the men are back.. only God knows what he was thinking.”

The Delta State Police Command has confirmed the arrest of a 30-year-old man, Daniel Onyejekwe, for allegedly stabbing his neighbour, identified simply as Christian, to death during a dispute over rice.

The incident reportedly occurred on New Year’s Day in the Ogwanja area of Sapele, Delta State, following an argument that escalated into a fatal altercation.

The Police Public Relations Officer, Delta State Command, SP Bright Edafe, confirmed the development on Thursday, saying, “It is confirmed, and the suspect is in custody. The two were fighting and injured themselves badly. Unfortunately, one, Christian, died.”

Eyewitnesses told PUNCH Metro that the altercation started when rice was being shared along Boyo Road in Ogwanja. An argument ensued between Onyejekwe and the deceased, leading to a physical fight.

An eyewitness, who spoke on condition of anonymity, said, “Christian and Daniel started dragging the rice, and during the fight, Daniel picked a bottle and stabbed Christian multiple times. The vigilante rushed him to the hospital, but he was confirmed dead on arrival.”

The remains of the deceased have been deposited at a mortuary, while the police have launched an investigation into the incident.

SP Edafe assured residents that the suspect would be prosecuted after the investigation was concluded.

A middle-aged woman, who has been identified as Alice Emmanuel, collapsed and passed away in front of the Benue Links Park in Area 3, Federal Capital Territory, Abuja, at approximately 9:25 a.m. on January 1, 2025.

According to reports, the woman had just alighted from a taxi in front of the park when she slumped.

The park manager immediately contacted the police who came to the scene and rushed the woman to the Karu General Hospital where she was confirmed dead by the doctors. No mark of violence was seen on her body.

When contacted, the spokesperson of the police command, SP Josephine Adeh, who confirmed the incident, said the family of the deceased woman has been contacted. She added that her body has since been deposited in the morgue of the hospital.

Nigeria's number one man, President Bola Tinubu has assured Nigerians of his administration’s readiness to take the country to the promised land.

Tinubu said his administration feels motivated by the ongoing support from the National Assembly over the past 19 months.

He disclosed this on Wednesday while addressing a gathering at his residence in the Ikoyi area of Lagos.

Among those present at the gathering were Vice President Kashim Shettima, the National Assembly leadership, and former National Assembly principal officers.

Speaking, Tinubu said: “Nigerians are the heart of everything we are doing. We have come to serve. You have made my day by coming on this visit. Happy New Year. May God bless you and our country and give our nation more prosperity. The transformative journey we have embarked upon is for all of us. It is for our tomorrow. It is for the future generation. Your commitment will yield that fruit for the babies yet unborn.

“Your commitment to value addition and bringing about the spirit of can do and must do is for all of us together. It is for us to build a nation. We have confidence and competence. The enslavers want us to be anything but enslaved people, but we say no. We are determined, we are capable, and we are resolute, and we will be there. We will take Nigeria to that promised land with you.”

World-famous Nigerian music superstar, Burna Boy has finally addressed the controversy surrounding his sudden exit from the stage at the 2025 Greater Lagos Countdown concert.

In a post via his Instagram story, the Afrofusion singer explained that he has PTSD and is triggered by being startled on stage, which is why he walked off on Tuesday night after an overzealous fan attempted to grab him.

Post-traumatic stress disorder (PTSD) is a disorder characterised by failure to recover after experiencing or witnessing a terrifying event.

Burna further urged fans to respect his boundaries while expressing gratitude for their support.

“It was a free show. I was supposed to do 10mins and did almost an hour. Everybody knows my rule about getting on stage and startling me when I’m performing,” he wrote.

“I had an amazing time with Lagos State last night. Don’t jump on my stage like that! I got PTSD. I love you all. Happy new year.”

The concert, which was held at The event, held at the Tafawa Balewa Square (TBS), was part of an annual celebration across five IBILE divisions of Lagos — including locations in Ikorodu, Badagry, Agege, and Epe.

It featured the performance of singers including Olamide, Wizkid, Tiwa Savage, Adekunle Gold, Seyi Vibez, 9ice, BNXN, and Adewale Ayuba, the fuji maestro.

In what will come across as a really tragic development in Effingham County, Georgia, USA, a Judge Stephen Yekel, 74, took his own life inside his courtroom.

His body was discovered on Tuesday morning, believed to have been shot dead late Monday night or early Tuesday.

This tragic incident occurred on what would have been his last day on the bench, following a recent loss in his re-election bid.

Yekel had attempted to resign from his position, which he held since his appointment in 2022, but Governor Brian Kemp prevented him from doing so.

The circumstances surrounding his resignation attempt are unclear, as the contents of a note sent to the Governor's office remain undisclosed.

According to Mail Online, citing local media, the Georgia Bureau of Investigation is currently probing the incident.

The Effingham County Sheriff, Jimmy McDuffie, expressed his shock and sadness, stating that the courtroom has been closed until January 2. The county has offered condolences to Yekel's family and loved ones, describing his death as a tragic loss.

Father-of-four Yekel was a former assistant district attorney in Chatham County and practicing lawyer with more than 45 years of experience.

He previously held roles as a special agent with the state's Alcohol & Tobacco Tax Unit and was an investigator at the Cobb County District Attorney's Office.

Yekel's resignation letter to Governor Kemp cites his disappointment with low turnout for the election he lost. In the event a judge resigns, a new one would be appointed by the Governor rather than voted in.

Yekel wrote the position is, "too important to be decided by only 6% of eligible voters".

But Kemp rejected the resignation request, stating he wishes to maintain, "respect for the will of the people of Effingham County."

In May, Yekel's ex-wife Lisa Yekel shared a post on Facebook which outlined several issues reportedly plaguing his re-election campaign.

She dismissed rumors their divorce the year before was due to infidelity and denied that he had asked a police officer not to give him a citation following a car accident.

"His best friend who passed away recently had Steve's car in his shop for repairs and loaned him a vehicle to use, which is the reason he was not driving his car when he was involved in the accident," she wrote.

"He was on the way home after visiting our daughter who had just moved into her apartment in Pooler.

"The Steve Yekel I know never would have asked the police officer not to give him a citation. He has always taken responsibility for his actions."

She also hinted at financial problems the couple had faced over a failed daycare business.

"He did everything he could to avoid bankruptcy," she added. "Unfortunately, I had used his life savings to keep the daycare open.

"In my defense, I was too lenient on parents who couldn't pay their bills and they eventually left owing thousands of dollars, again that's my fault, not Steve's."

She concluded the post by stating her ex-husband was, "one of the most respectful, honest, and caring people I know" and urged people to re-elect him.

The couple share two children Sean and Ashleigh, who they raised alongside Yekel's sons Blake and Brett.

"Throughout my service, I've upheld the principles of dignity, respect, and impartiality, treating all individuals, whether represented by legal counsel or not, with fairness and equality," Yekel said in a post about his campaign.

Yekel ultimately lost his re-election bid to Judge Melissa M Calhoun.

The late judge was also facing a lawsuit from court employee Lisa Crawford who claims she was wrongfully terminated from her position by Yekel, WTOC reports.

Crawford was seeking $10,000 in damages amid claims Yekel fired her in order to bring in his own staff when he assumed office.

An email reportedly submitted as part of the lawsuit from Yekel to Crawford accused her of being part of a "conspiracy scheme" to help people charged with DUI reduce or dismiss their charges.

The Peoples Democratic Party (PDP) says President Bola Tinubu’s New Year message “offers no hope in sight” for Nigerians.

In a statement issued on Wednesday, Debo Ologunagba, PDP spokesperson, described the president’s New Year speech as “self-satisfying”,

The opposition party’s spokesperson said Tinubu’s administration is “completely disconnected and unconcerned” with the economic hardship in the country.

“Nigerians were appalled that despite the prodding by the PDP and well-meaning citizens, President Tinubu’s New Year speech did not articulate any specific direction for the nation or proffer solutions to the myriad of problems caused by APC’s misrule,” the statement reads.

 

“President Tinubu’s speech again underlines APC’s insensitivity to the anguish of Nigerians by failing to present any definite policy roadmap towards reducing the price of petroleum products, addressing the widespread hunger in the land, and revamping our ailing productive sector.”

Ologunagba said Tinubu did not articulate any “solution-based direction” for the critical sectors such as electricity, oil and gas, road infrastructure, and food production, among others.

“It was also pathetically devoid of a precise plan to address unemployment through strategic investment to stimulate multisectoral small and medium scale enterprises in the country,” Ologunagba said.

“If indeed the APC administration has the interest of Nigerians at heart, the New Year address would have made definite pronouncements on the price of fuel, especially given that with deft, transparent, and innovative management of resources, economic potentials, comparative advantage, national refining capacity, and effective policing of our borders, Nigerians should not pay more than N350 per litre for petrol within the country.

“In any case, from the speech, it is clear that the Tinubu-led APC administration lacks the expected patriotic commitment as well as the required capacity, competence, and skills to effectively harness and manage the resources of the nation for the good of the citizens.

“Moreover, President Tinubu’s claim in the speech that Nigerians placed their confidence in him as their president is ludicrous and shows that he is disconnected from the reality of his abysmal perception among Nigerians.”

The PDP spokesperson added that Nigerians have lost faith in Tinubu’s administration and have since moved on, “eagerly waiting for the next round of elections that will mark the end of the nightmare which the APC represents to our nation”.

He asked Tinubu to listen to Nigerians and be more committed and focused on the purpose of governance, which is the welfare and security of the people.

Vice-President Kashim Shettima and 13 state governors paid a New Year homage to President Bola Tinubu in Lagos on Wednesday.

The president is in Lagos for the Christmas and New Year celebrations.

The governors who were in attendance were Abba Yusuf of Kano, Sherriff Oborevwori of Delta, AbdulRahman AbdulRazaq of Kwara, Babajide Sanwo-Olu of Lagos, and Siminalayi Fubara of Rivers.

Others are Lucky Aiyedatiwa of Ondo, Usman Ododo of Kogi, Hope Uzodimma of Imo, Abdullahi Sule of Nasarawa, Peter Mbah of Enugu, Biodun Oyebanji of Ekiti, Monday Okpebholo of Edo, and Babagana Zulum of Borno.

Speaking during the visit, Shettima said the nation’s economy is showing positive signs of recovery, noting that the administration is working hard to stabilise it.

Shettima expressed confidence that Nigeria will experience significant economic growth in 2025.

“I am confident that 2025 will bring about substantial economic activities and improvements to the lives of citizens,” the vice-president said.

“I’m highly optimistic about tomorrow. I believe we have turned the corner.

“We shall have very robust economic activities in the new year. I believe Nigerians will prosper.

“The economy has started picking up, and in the coming weeks and months, Nigerians will start smiling for the better.

“We are working assiduously with the national assembly to come up with robust solutions to our national challenges.

“There is no nation that is immune to the economic headwinds across the world.

“The crisis in Ukraine and so many other global trends are affecting us adversely because we are part of the global community.

“But I want to assure Nigerians that the economy is turning the corner. by the grace of God, we have crossed the rubicon and we are on a path to sustained growth. We wish Nigerians well.”

Senate President Godswill Akpabio, his deputy Barau Jibrin and Opeyemi Bamidele, the senate leader, also visited the president.

SEE PHOTOS: 

At the beginning of every year, analysts look back at the past 12 months – reflecting on what worked and what didn’t – and look forward to the next 12 months – prognosticating on what might and might not be. In that tradition, this column began last year with an article titled “2024: How Nigerians must assess Tinubu’s performance” (Vanguard, January 4, 2024). The piece looked back at 2023 and projected into 2024. Similarly, this intervention reflects on 2024 and takes the long view of 2025.

In setting the criteria for assessing Tinubu’s performance in 2024, I appealed, first, to religion and quoted Proverbs 29:2. “When the righteous [good leaders] are in authority, the people rejoice; but when the wicked [bad leaders] rule, the people groan.” Then, I invoked the Jeffersonian credo that “the care of human life and happiness is the only legitimate object of good government”. This newspaper’s motto, “towards a better life for the people”, also aptly captures the primary purpose of every government. Thus, I posited that Tinubu’s performance in 2024 should be judged by the extent to which there were tangible improvements in the lives of ordinary Nigerians, and whether or not the people rejoiced or groaned.  

So, what happened? Well, I gave my overall verdict in last week’s column when I said that Tinubu’s promise of renewed hope in his “2024 Renewed Hope Budget” turned out to be an illusion. In 2024, Nigeria’s ruling elite lived in outrageous opulence, using public funds to buy presidential yachts and fleets of SUVs and renovating their official residences with billions of naira, among many extravagances, while poverty reached dizzying heights, with over 64 per cent of Nigerians going to bed hungry, and an epidemic of kidnapping gripped Nigeria. In a country where there is no audit of budget implementation and performance, a mandatory practice in genuine and accountable democracies, several billions, if not trillions, of naira from last year’s N28.77 trillion budget would certainly have been embezzled and misappropriated without trace. Of course, Nigeria is a kleptocracy, as John Campbell and Matthew Page rightly stated in their book, Nigeria: What Everyone Needs to Know.  

But my focus here is not the 2024 budget; rather, it is Tinubu’s governing philosophy, which led to his failure in 2024 and looks likely to make 2025 another wasted year. Everyone knows, by now, that Tinubu is a very arrogant and self-regarding ‘leader’, who believes he is a genius and can do whatever he wishes. Part of the reason for Tinubu’s self-confidence is that he has absolutely captured and pocketed the National Assembly and turned it into a supine and pliant legislature, thereby enthroning effective one-party rule. 

Indeed, recently, Godswill Akpabio, Senate President, admitted that Tinubu has “muscled” the National Assembly. Akpabio said: “He [Tinubu] conferred on us Grand Commander of the Order of the Niger, GCON; whether he loved it or not he did it. He muscled the two Chambers together.” He said Tinubu did so to co-opt the National Assembly, knowing that the parliament “can turn a woman into a man and a man into a woman.” Of course, in Nigerian politics, everyone has a price, and Tinubu’s brand of politics is to pay the price, whatever it is, to get what he wants. 

But at whose expense? If the National Assembly is so much in cahoots with Tinubu and rubberstamps everything that he presents to it, who then will hold him and his government up to scrutiny? Is an unaccountable government good for democracy? How come the parliament that “can turn a woman into a man and a man into a woman” can’t ensure that the Nigerian state works for the Nigerian people and engenders a better life for them? Aided by the National Assembly, Tinubu squandered 2024 shadowboxing on issues like national anthem, state police, local government autonomy and new tax bills without proper consultations and a coherent restructuring vision and without prioritising the needs of ordinary Nigerians. Of course, Tinubu and the National Assembly will trumpet the new monthly minimum wage of N70,000. But consider this: a senator, Sumaila Kawu, said in August that his monthly take-home pay was N21m, and lamented it wasn’t enough! Yet, Tinubu and the National Assembly brag about an inflation-decimated monthly minimum wage of N70,000. Simply put, they worked for themselves, not ordinary Nigerians, in 2024!  

Which leads to Tinubu’s other governing philosophy: expansionary fiscal policy. Tinubu believes in large-scale government spending. He calls its “stimulus”. But the stimulus is not a rising tide that lifts all boats; rather, it unjustly enriches public officeholders, politically-connected government contractors and other political entrepreneurs who fleece the Nigerian people. Truth is, Nigeria is not only a kleptocracy, but also a plutocracy, a government of the super-rich and the well-connected. According to Enhancing Financial Innovation and Access, EFInA, a financial-inclusion outfit, 62 per cent of adult Nigerians earn less than N100,000 per month, with an average income of around N31,000. So, into whose pockets does Tinubu’s multi-trillion-naira stimulus go? Surely, not the pockets of ordinary Nigerians: the rising tide doesn’t lift their tiny boats!

Tinubu’s fiscal profligacy also triggers a large deficit, which leads to excessive borrowing and increases Nigeria’s debt burden. During his recent “media chat”, Tinubu said that “borrowing is not a crime.” But is devoting 33 per cent of a country’s budget to debt servicing – as the 2025 budget does with N16.33 trillion for debt-service – not a crime? Of course it is, because that’s money that could help improve people’s lives. Then, there’s the inflationary side of fiscal profligacy. Only the economically illiterate would say that Tinubu’s fiscal recklessness doesn’t contribute to Nigeria’s runaway inflation, now at 34.6 per cent. But who suffers most from inflation? Of course, it is the poor, whose disposable incomes and purchasing powers are completely wiped out, making the so-called minimum wage worthless.

Now, the above picture of Tinubu’s performance in 2024 offers insights into 2025. First, his governing philosophy, underpinned by arrogance of power and detachment from reality, will not change. He will continue to be wise in his own conceit. Second, his fiscal recklessness, as reflected in his proposed N49.74 trillion 2025 budget, will only further unjustly enrich the wealthy and the politically connected, while doing absolutely nothing to engender better lives for ordinary Nigerians. Tinubu said he will reduce inflation to 15 per cent this year. But the only way inflation can drop so dramatically amid fiscal profligacy is if the CBN continues to aggressively hike interest rates, thereby destroying industries and the prospects of reducing unemployment and poverty. He said he will bring the exchange rate down to N1,500 to $1. Yet, it is projected to reach N1,800 this year. Yet again, Tinubu is peddling fantasies!

Thanks to his perverse governing philosophy, Tinubu made life unbearable for ordinary Nigerians in 2024. Sadly, the omens are not good for 2025. My advice? Trust in God!

Happy New Year, dear readers!