Business
Fidelity Bank Chairman Amaka Onwughalu Wins Woman of the Year at AMTY Awards
Chairman of Fidelity Bank Plc, Mrs. Amaka Onwughalu, has been named Woman of the Year at the 5th Anambra Man of the Year (AMTY) Awards, recognising her more than three decades of leadership in Nigeria’s banking industry and contributions to corporate governance and national development.
The award was presented during a ceremony at the Stanel Dome Conference Centre in Awka, Anambra State, where business executives, academics, public officials and community leaders gathered to honour individuals whose work has influenced business, governance and society.
The recognition comes at a time when Nigeria’s financial sector continues to place greater emphasis on strong corporate governance, experienced leadership and gender inclusion at the highest levels of decision-making.
Why it matters
Mrs. Onwughalu assumed office as Chairman of Fidelity Bank on 1 January 2026, becoming one of the few women leading the board of a major Nigerian commercial bank.
With more than 32 years’ experience in financial services, she has held senior executive positions across the banking industry, including Group Managing Director of the former Mainstreet Bank Limited and Deputy Managing Director of Skye Bank Plc.
Industry analysts say recognising experienced female leaders in finance could encourage more women to pursue executive and boardroom positions in sectors where they remain underrepresented.
Corporate governance experts have also argued that strong board leadership plays an important role in maintaining investor confidence, regulatory compliance and long-term business sustainability.
Award recognises leadership and service
Accepting the award, Mrs. Onwughalu said the recognition held special significance because it came from her home state.
“I have been privileged to receive several honours over the course of my career. However, to be recognised by my home state makes this award especially meaningful. It reminds me of the values that have guided my journey such as integrity, resilience, service and excellence,” she said.
She dedicated the honour to those who had contributed to her professional journey.
“I am especially grateful to the Board, Management and staff of Fidelity Bank Plc. It is a privilege to serve as Chairman of a bank that continues to place strong governance, customer focus and sustainable growth at the heart of its operations,” she added.
Mrs. Onwughalu also said she hoped the recognition would encourage more young Nigerians, particularly women, to pursue their ambitions.
“I hope this recognition will inspire more young people, especially young women, to pursue their dreams with courage, discipline and confidence.”
Organisers highlight excellence
Chairman of the occasion and Founder of Falcon Corporation, Prof. Joe Ezigbo, said the awards were designed to recognise people whose achievements positively influence society.
He said celebrating individuals during their lifetime encourages continued excellence while motivating others to contribute meaningfully to their communities.
The ceremony also featured a keynote address by the Vice Chancellor of Nnamdi Azikiwe University, Awka, Prof. Bond Anyaehie, who spoke on “Unstoppable Anambra: Leveraging Human Capital for Global Impact.”
Other winners
Several prominent Nigerians were also honoured during the ceremony.
They included High Chief Anthony Ikenna Obele, who received the Business Icon of the Year Award, Most Rev. Dr. Valerian Maduka Okeke, named Person of the Decade, Dr. Chioma Irene Awuzie, honoured as Public Servant of the Year, Prof. Stella Okunna, who received a Lifetime Achievement Award, Joy Egolum, recognised as Corporate Leader of the Year, and Chinyere Moneme (SAN), who was named Inspiring Woman of the Year.
Industry perspective
Corporate governance specialists say awards alone do not determine institutional performance, but they can highlight leadership models that encourage accountability, ethical decision-making and diversity in executive management.
As Nigerian banks continue adapting to changing regulatory and economic conditions, experienced board leadership is expected to remain central to maintaining financial stability and customer confidence.
What’s next
Mrs. Onwughalu is expected to continue leading Fidelity Bank’s board as the lender focuses on governance, customer service, digital innovation and sustainable growth in Nigeria’s increasingly competitive banking sector.
Business
Jamara Home Launches August 2026 Rainy-season Appliance Sales Campaign
Jamara Home has launched a three-week sales campaign offering discounts on household appliances as Nigerian consumers enter a period of continued rainfall and increased demand for some home products.
The retailer says its “Stay Dry, Shop Fly” campaign will run from 4 to 24 August 2026, with televisions, refrigerators, freezers, washing machines, air conditioners, gas cookers, fans and other household products included.
Jamara Home says the campaign covers products from more than 30 international brands.
Oluwatomi Faniran, Head of Marketing at Jamara Home, said the campaign was intended to make household appliances more affordable.
“The rainy season changes the way many families live and interact within their homes, making dependable home appliances even more essential. Through our ‘Stay Dry, Shop Fly’ campaign, we’re giving customers access to genuine products from trusted global brands at exceptional prices, helping them create comfortable homes without placing unnecessary pressure on their finances. At Jamara Home, our focus has always been on delivering quality, value, and an enjoyable shopping experience for every customer.”
Who stands to benefit?
For Jamara Home, the campaign provides an opportunity to increase sales during a period when retailers traditionally promote weather-related products.
For consumers, the potential benefit is straightforward: a genuine reduction in the cost of an appliance that a household already needs.
Business
Nigeria Customs Seizes Rifle Components, ₦373.8m Cannabis Products at Lagos Port
Nigeria Customs says it has intercepted components for more than 140 pump-action rifles and cannabis-infused products valued at ₦373.8m at Tincan Island Port in Lagos.
The seizures, announced on Thursday, 6 August, involved three containers and have raised fresh questions about how prohibited weapons and psychoactive substances are being concealed within Nigeria’s legitimate import system.
Customs said one container, which arrived aboard the vessel MV VELIKA on 8 July, was subjected to enhanced scrutiny after being flagged by its intelligence-led risk management system.
Officers subsequently found concealed crates containing what Customs described as knocked-down components preliminarily identified as JOJEFF pump-action rifles.
Two people have been arrested, according to the service, while another alleged principal suspect remains at large.
Customs has not publicly identified the suspects or disclosed the declared contents of the container, the country of origin of the components, their intended destination or how the shipment entered the port’s clearance process.
Those details will be important in determining whether the seizure was simply a case of successful interception or also points to weaknesses in the systems designed to prevent prohibited cargo from entering Nigeria.
A familiar name in Nigeria’s arms-trafficking history
The reference to JOJEFF weapons is significant because the brand has appeared in previous Nigerian arms seizures.
In 2017, Customs intercepted 661 pump-action rifles concealed in a 40-foot container in Lagos.
The weapons were identified in reports at the time as JOJEFF-branded and had been concealed among goods declared as steel doors and other merchandise.
A separate Conflict Armament Research investigation later documented JOJEFF and other Turkish-manufactured shotguns in Nigeria.
It found that Nigerian authorities had seized more than 2,000 pump-action and semi-automatic shotguns in four shipments in 2017, with the weapons concealed in containers shipped by sea to Lagos.
That history means the latest seizure is more than an isolated customs announcement.
It potentially forms part of a longer pattern in which firearms are moved through commercial shipping routes and disguised among legitimate cargo.
But the available information does not establish that the latest shipment is connected to any of those earlier cases.
Why rifle components matter
The Customs statement refers to “knocked-down components”, rather than assembled firearms.
That distinction matters. Components can be easier to conceal than complete weapons, while the exact number of complete firearms that could ultimately be assembled from the seized parts has not been independently established.
Customs’ description of the items as components “preliminarily identified” as JOJEFF rifles also indicates that technical identification or further examination may still be required.
Nigeria’s Firearms Act regulates the possession, importation and export of firearms and includes provisions governing prohibited firearms and their components. The law requires authorisation for the importation of prohibited firearms.
The 1966 amendment to the legislation specifically brought pump-action or other mechanically reloaded shotguns within the category of prohibited firearms.
The precise legal classification of the seized components, however, would depend on what exactly was recovered and the applicable licence and import documentation.
Customs’ risk system faces a bigger test
Customs says the shipment was detected through its intelligence-driven risk management system.
That claim is consistent with the Nigeria Customs Service Act 2023, which requires the service to use organisational and intelligence-driven risk management in its operations, including customs clearance procedures. The law also provides for risk registers and profiles to support those operations.
But a successful interception does not, by itself, show how effective the system is across all cargo entering Nigerian ports.
The unanswered question is how many similar consignments are identified before clearance, how many escape detection, and whether intelligence is being shared quickly enough between Customs and other security agencies.
Those figures were not provided in the announcement.
Cannabis products worth ₦373.8m
In a separate operation, Customs said officers intercepted two 40-foot containers carrying cannabis-infused products hidden alongside used vehicles, generators, batteries and other imported goods.
The agency listed 109 cartons of Delta-8 cannabis-infused pre-roll cookies, 125 cartons of Delta-8 cannabis-infused gummies and 73 cartons of cannabis-infused cookies.
It put their combined street value at ₦373,802,640.
The announcement does not explain how Customs arrived at that valuation, whether laboratory testing has confirmed the stated cannabinoid content, or whether the products have been formally handed over to the National Drug Law Enforcement Agency, which is responsible for combating drug trafficking in Nigeria.
That distinction is important because a “street value” is an enforcement estimate, not necessarily the amount that the goods would have fetched in a legitimate market.
The NDLEA has separately reported several major seizures of cannabis products entering Nigeria through Lagos. In July, for example, the agency took custody of 6,778.5kg of Canadian Loud, a strain of cannabis, after a joint examination involving Customs and other security agencies at Apapa Port.
In May, the agency also reported the arrest of a foreign national over an attempt to bring 31kg of synthetic cannabis into Nigeria through Lagos airport.
The latest Customs seizure therefore comes against a backdrop of continuing attempts to move cannabis products through Nigeria’s international transport gateways.
Customs links seizure to 2027 election security
Comptroller-General Adewale Adeniyi also connected the latest interception to preparations for Nigeria’s next general election.
“We are about entering a major election cycle and we know that by this period, men of the underworld will want to use our borders, our ports, our airports to bring in items like this. We are going to redouble our efforts to ensure that we do not allow them to do so.”
Adeniyi also warned against internal collusion within the service.
“The Nigeria Customs Service will not harbour any of these people who want to serve as accomplices or use their position to influence the importation of goods that will threaten our peace and security and the peaceful conduct of the next general election.”
What happens next?
Customs says investigations are continuing and that it intends to identify and prosecute everyone connected with the consignments.
The critical test will therefore come after the seizure.
Authorities will need to establish who imported the goods, who financed them, where they came from, their intended destination, how they were declared to Customs and whether anyone within or outside the port system helped them move through the supply chain.
The identities of those arrested, the charges eventually filed and the outcome of any prosecution will provide a clearer measure of the success of the operation than the seizure figures alone.
For now, Customs has demonstrated that prohibited weapons components and cannabis products can still be concealed within commercial cargo entering Lagos.
Business
Adron Group Chairman Hails Threeco Construction CEO Muraina Banjoko on 65th Birthday
The Chairman and Group Chief Executive Officer of Adron Group, Aare Adetola Emmanuelking, has congratulated construction entrepreneur Otunba Muraina Olatunji Banjoko on his 65th birthday, describing him as a business leader whose work has influenced Nigeria’s construction sector and community development efforts.
In a goodwill message released on Thursday, Emmanuelking praised the Chairman and Chief Executive Officer of Threeco Construction Company Limited for what he described as decades of leadership in business and philanthropy.
Why it matters
Nigeria’s construction industry remains a major contributor to infrastructure development and employment, despite challenges such as rising building costs, inflation and financing constraints.
Industry leaders who have sustained businesses over several decades are often recognised for their contributions to economic growth, skills development and corporate social responsibility.
Emmanuelking said Banjoko had built Threeco Construction Company Limited into a company associated with quality, professionalism and reliability.
“As Otunba Muraina Olatunji Banjoko marks this remarkable milestone, we celebrate not only his achievements but also his commitment to excellence, integrity, and service to humanity. His life remains a shining example of purposeful leadership and enduring impact.”
He added that the businessman had distinguished himself not only as an entrepreneur but also through humanitarian initiatives that have benefited communities.
Recognition beyond business
The Adron Group chairman also highlighted several traditional and honorary titles held by Banjoko, including Oluwo of Ibaragunland, Baba Adini of Akuteland, Ifo Local Government Renewed Hope Ambassador, Otunba of Akuteland, Bashorun of Agbado and Dr. Olowore Adini of Egbaland.
According to Emmanuelking, the honours reflect the respect Banjoko commands across business, religious and traditional institutions.
He prayed that the businessman would enjoy good health, wisdom and many more years of service.
Industry perspective
Business analysts say longevity in Nigeria’s construction sector often reflects an ability to navigate economic downturns, changing government policies and fluctuating material costs.
They note that beyond delivering projects, construction firms are increasingly expected to contribute to community development, environmental sustainability and job creation.
Public perspective
For many Nigerians, successful entrepreneurs who invest in community projects are viewed as complementing government efforts in areas such as education, infrastructure and youth empowerment.
However, governance experts also argue that corporate philanthropy should complement—not replace—public investment in essential services.
What we know
While Emmanuelking’s tribute celebrates Banjoko’s achievements, no new corporate initiative or policy announcement accompanied the birthday message.
The statement focuses on recognising the construction executive’s career, philanthropy and leadership within Nigeria’s private sector.
What next?
As Banjoko marks the milestone, attention is likely to remain on how established indigenous construction companies continue adapting to Nigeria’s evolving infrastructure needs and economic realities.
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