NDC grassroot mobilizer, Ebitare dumps party one month after quitting APC

Published

3 months ago

June 28, 2026

Preport

Ahead of the 2027 general elections, a grassroot mobilizer for the Nigerian Democratic Congress, NDC, in Bayelsa State, Sunday Ebitare Thompson, has resigned his membership of the party.

The resignation was contained in a letter dated June 27, 2026, and addressed to the NDC chairman, Ward 13, Shagbama Local Government Area of the Bayelsa State.

Ebitare had on May 17, 2026, dumped the All Progressives Congress, APC, and moved to NDC alongside his supporters.

Although he did not state the reason for his resignation from the NDC, it may not be unconnected to the internal crisis that emanated from the party’s primary elections.

In the resignation letter sighted by DAILY POST on Sunday, Ebitare wrote, “I hereby formerly resign and withdraw my membership from the Nigerian Democratic Congress, NDC effective immediately.

“I appreciate the opportunity to have been a part of the party and wish the NDC success in its future endeavors.”

EuroMatch NPFL: Inter Lagos Rescue Point With Late Equaliser Against Kano Pillars

Published

6 hours ago

September 24, 2026

Preport

Inter Lagos fought back in the closing minutes to secure a 1–1 draw against Kano Pillars in an entertaining Nigeria Premier Football League (NPFL) clash at the Onikan Stadium, Lagos, on Wednesday.

The visitors appeared set to claim all three points after taking a first-half lead and stubbornly defending their advantage for most of the contest.

However, Inter Lagos maintained intense pressure through the second half, mounting attack after attack in search of a route back into the game.

Their relentless persistence paid off late in the match when Bashir Abdulkarim capitalized on a defensive opening to slot home the equalizer.

The drama triggered wild celebrations among the home fans as Inter Lagos snatched a hard-earned point from the jaws of defeat.

While Inter Lagos can draw confidence from their resilience, Kano Pillars will be frustrated by their failure to manage the game and secure the victory.

The result leaves both teams with a point each, further reflecting the tight, unpredictable nature of this season’s NPFL campaign.

African Alliance Secures Shareholders Nod to Raise N12bn, Eyes Return to Active Trading

Published

6 hours ago

September 24, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—The board of directors of African Alliance PLC on Wednesday got shareholders nod to raise N12 billion additional capital to shore up its baseline and meet National Insurance Commission, (NAICOM), Minimum capital requirement.

According to the details made available by the company under the approved resolutions, the Board is empowered to execute the capital injection through various channels, including private placement, rights issue, public offer, asset sales, or zero-coupon convertible subordinated debt notes.

The approval which was granted at the company’s Extra-ordinary general meeting held today in Lagos, shareholders also empower the board to determine conversion terms, allot shares, and revalidate legacy shares where necessary.

The EGM aligns with the Nigerian Insurance Industry Reform Act, 2025 (NIIRA), the Companies and Allied Matters Act, 2020 (CAMA 2020), the Investment and Securities Act, 2025, the Rule Book of the Nigerian Exchange Limited, and other regulations and directives of NAICOM.

Applauding the shareholders for the approval, the Chairman of company, Anthony Isa, said “The approval granted by our shareholders today marks a vital milestone in securing the long-term strength and regulatory compliance of African Alliance Insurance Plc. By authorising the Board to raise up to N12 billion across flexible capital structures—including equity, debt notes, and asset optimisation—we are positioning the company to fully satisfy the recapitalisation requirements of the Nigerian Insurance Industry Reform Act while creating sustainable value for all stakeholders.

The board also got approval as part of and in furtherance of the company’s recapitalisation, approval “to sell, transfer or otherwise dispose of such properties or other assets of the company, whether or not constituting a major asset transaction, on such terms and conditions as may be approved by the board of directors, and permitted by applicable law, subject to the requisite regulatory approvals.”

In addition, the board was also mandated to amend the organisation’s Memorandum and Articles of Association (MEMART) “to the extent necessary or desirable to give effect to the recapitalisation, including any consequential increase in issued share capital and the allotment of shares pursuant thereto.”

Also, Managing Director/Chief Executive Officer Ayobami Ogunkeye, African Alliance Plc, assured shareholders that leadership is thoroughly vetting all potential equity partners in order to safeguard the firm’s foundational identity.

“We are extremely cautious about who we bring on board or align with, because this is a lasting commitment,” Ogunkeye stated. “Many parties have capital, but what drives them? Do they value what African Alliance represents, or are they simply after breaking it up for parts? We are rigorously vetting interested parties to make sure our goals match theirs.”

Ogunkeye disclosed that leadership is actively in talks with the Nigerian Exchange Limited (NGX) and other regulatory agencies to clear up longstanding filing gaps and open the door for the company’s shares to begin trading again.

“There is underlying worth here that matters greatly. We are actively in discussions with the regulators so trading in our stock can be reinstated on the exchange,” he noted. “At present, our share price sits well under its face value, but once this recapitalisation drive is finalised, we anticipate raising the share value to roughly 70 kobo or N1.00, restoring our position among stocks that are actively traded and hold real worth.”

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