There is a particular genre of financial commentary that mistakes legal process for a factual verdict. A court delivers a first-instance ruling, procedural questions are raised, and before the ink is dry on the appeal filing, the narrative has already hardened: the regulator overreached, investor confidence is shattered, and Nigeria’s financial governance is on trial before the world. Much of the commentary currently circulating about Union Bank of Nigeria belongs to that genre. It is not without merit on certain procedural questions. But it is, at its core, incomplete and incompleteness in financial journalism carries costs that run well beyond the column. The Acquisition That Started Everything In 2022, Titan Trust Bank Limited, then chaired by Mr Tunde Lemo, acquired approximately 94 per cent of Union Bank of Nigeria through two Dubai-registered entities: Luxis International DMCC, promoted by Mr Rahul Savara, and Mr Cornelius Vink’s Magna Internationa...
A critical stakeholders on maritime space is of the opinion that CGC Adewale Adeniyi's beautiful credentials as the best Comptroller General of Customs will be incomplete if he leaves office without revisiting some of the sentimental policies by previous administrations that are affecting trade facilitations for corrections. In a review on this issue with Alhaji Adetona Mubashiru, the Chairman and CEO of Only God is Wise Nig. Ltd, a Bonded Terminal would want the CGC to revisit some of the government policies on Trade facilitation. It could be noted that a press release written by CGC Adeniyi on December 5, 2016 as the then National PRO of Nigeria Customs Service captioned "FG BANS IMPORTATION OF VEHICLES THROUGH THE LAND BORDERS," had the followings in that short notice that importation of vehicles into Nigeria through the land Borders have been banned by the Federal Government. The prohibition order covers all new and used vehicles. The Ban was sequel to...