Business
First Trustees Advocates Stronger Frameworks in Advancing Structured Islamic Inheritance Practices
Rotimi Obende, Head of Private Trust at First Trustees, presenting at the recently held Islamic Estate Planning Clinic in Abuja.
Abuja, Nigeria – February, 2026 – First Trustees Limited, a subsidiary of First HoldCo Plc., and a leading provider of trust solutions to individuals, corporates, and government institutions, partners with The Metropolitan Law Firm and Al-Ameen Trustees to host the 8th Annual Islamic Estate Planning Clinic in Abuja, bringing together leading Islamic legal, financial, and policy experts.With the theme “From Informality to Legacy: Structuring Islamic Wealth Transfer,” the highly anticipated forum underscored the urgent need for Nigerian families to transition from informal inheritance practices to professionally structured, Sharia-compliant estate planning frameworks as a tool to seamlessly transfer and protect wealth, prevent family conflicts, and ensure legacies endure for future generations Speakers emphasized the need to adopt a structured Islamic estate planning framework to ensure wealth preservation, reduces legal disputes, and ensures compliance with both Shari’ah principles and the Nigerian statutory law.
L-R: Managing Director/CEO, One17 Financial Services, Ismail Rufai; Professor of Islamic Banking and Finance, Yobe State University, Prof. Adam Abubakar, Esq.; Managing Partner, The Metropolitan Law Firm, Ummahani Amin, Partner, The Metropolitan Law Firm, Barr. Mohammed Yunusa; and Head, Private Trust, First Trustees Limited, Rotimi Obende at the Islamic Estate Planning Clinic recently held in Abuja.
Stating that the transition from informalarrangements to a structured legacy is not merely a financial decision; it is a profound act of stewardship. By documenting and formalising intentions today, we replace potential family discord with clarity and peace of mind.Rotimi Obende, representing the Managing Director of First Trustees Limited, highlighted estate planning as a sacred duty. “Estate planning is more than documentation—it is stewardship. Informal arrangements expose families to avoidable risks. Structured, Sharia-compliant plans provide clarity, transparency, and true generational protection,” he said.He noted that regulated trustees play a crucial role in ensuring proper execution of wills and trusts, reinforcing public trust and accountability.Delivering the keynote address, Professor Isa Ali Pantami, former Minister of Communications and Digital Economy, cautioned against relying on verbal inheritance promises, which frequently lead to conflict and asset loss. He also urged the integration of modern technology, including blockchain, to securely store and have seamless access to wills and estate documents and also bridging traditional Islamic principles with cutting-edge innovation.Ummahani Amin, Managing Partner at The Metropolitan Law Firm, added that Islamic inheritance law offers both structure and flexibility.“Individuals can allocate up to one-third of their estate through properly documented wills and trusts. Too many families suffer because intentions were never formally recorded,” she explained. As discussions progressed, a consistent message resonated clearly: with today’s increasingly complex and diverse assets, from digital holdings, cross-border investments and complex business interest, informal inheritance practices are no longer sufficient.Participants agreed that structured Islamic estate planning delivers clear advantages, including legal certainty, tax efficiency, family unity, and long-term wealth preservation.
Lagos, Nigeria – December 2025 – FBNQuest Merchant Bank has confirmed the successful completion of its ownership transition, following its divestment from First HoldCo Plc and acquisition by EverQuest Acquisition LLP, a new investor consortium led by Custodian Investment Plc.The Acting Managing Director, Afolabi Olorode, stated:“This marks a defining milestone in the Bank’s journey, one that reflects our consistent performance, institutional strength, and long-term potential. As we move forward under new ownership, our focus remains unchanged: delivering exceptional value to stakeholders, deepening market leadership, and building a sustainable institution for the future. We are grateful to all who have been part of this journey and remain focused on creating long-term value for our clients and stakeholders. The Bank remains fully operational, and all client relationships, services, and leadership structures continue uninterrupted.We thank our stakeholders for their continued trust and look forward to the next chapter of growth.
Lagos, November 2, 2025 – Ecobank Nigeria, a subsidiary of the leading Pan-African banking group, in partnership with the Yaba Art Museum (YAM) of Yaba College of Technology, has announced the launch of the Lagos Pop-Up Museum — a dynamic cultural and artistic experience set to run for three months at the Ecobank Pan African Centre (EPAC) in Victoria Island, Lagos. The exhibition opens on November 8, 2025, and will continue until February 10, 2026.
The Lagos Pop-Up Museum is conceived as a vibrant, citywide art and cultural advocacy platform. It will bring together artists, students, and the public through a blend of interactive exhibitions, workshops, performances, talks, innovation labs, and community engagement programs. Visitors can look forward to an inspiring mix of creativity, learning, and collaboration that celebrates both Lagos’ dynamism and Africa’s evolving cultural identity.
Speaking about the initiative, Bolaji Lawal, Managing Director/Regional Executive, Ecobank Nigeria, said the project reflects the bank’s belief in the power of culture to unite people and drive innovation.
“Through platforms like EPAC, we continue to nurture collaboration, entrepreneurship, and cultural exchange which are all key to building a thriving creative economy in Africa. This partnership with YAM reinforces our CSR values around education, innovation, sustainability, and African identity. It reflects our commitment to social impact, youth empowerment, and pan-African creativity,” Lawal said.
He noted that the collaboration embodies a shared vision to amplify creative voices, preserve cultural heritage, and inspire innovation, placing both institutions at the intersection of finance, education, and social development.
“Beyond promoting our Pan-African values, we want to make art and culture more accessible by helping people connect, learn, and express themselves through creativity,” he added.
In his remarks, Dr. Ibraheem Adedotun Abdul, Rector of Yaba College of Technology, described the project as an extension of the Museum’s well-known “Gown to Town” initiative, which connects academic creativity with the wider community.
“This project invites Lagos residents, creatives, policymakers, collectors, entrepreneurs, and everyday citizens to engage with contemporary culture,” he said. “It will be delivered in collaboration with Yabatech departments and a wide network of partners and cultural organizations, collectives, tech incubators, youth hubs, schools, international institutions, and alumni groups.”
Dr. Abdul added that the Lagos Pop-Up Museum represents a new era of inclusive, community-driven museum practice in Nigeria as one that uses art as a platform for social imagination, research, and civic dialogue.
The three-month activation will feature a rich lineup of experiences in a mutating sphere, from archival exhibits and heritage engagement and highlights on restitution, to maker-labs, a myriad of showcases, wellness activities, mixed disciplinary workshops, children’s sessions, screenings, performance art presentations, discussion sessions and more.
Exhibition highlights include:
- Homecoming – A visual journey responding to Nigerian artefacts repatriated from Europe and the Americas and the important work towards reclaiming national and indigenous heritage.
- Adoption – A civic-action space of Art donations and sales in support of youth development supporting tuition and emerging creatives that embrace the spirit of paying it forward.
- Drum Up – A celebration of the archive as a catalyst for development and collective memory, and intergenerational dialogues on a road towards the pan -African memory pool of FESTAC ‘77
- Deep Blue – Immersive works exploring water in its fantasy, mystery, science, and environmental consciousness, responsibility and our planetary significance inspired by Lagos’ waterways and coastal life.
Over its duration, the Ecobank Pan African Centre will transform into a vibrant hub of creativity and connection, expanding public access to contemporary art, creative education, and cultural engagement.
Nestlé Nigeria PLC has announced strong financial results in its 9-Month report, driven by
high growth. Key highlights for January to September 2025 Results :
Revenue Growth: Nestlé Nigeria PLC saw a robust 33% increase in revenue, totaling
N884.5 billion compared to 9M of 2024.
Operating Profit: The operating profit grew to N181.3 billion, a 63.6% increase from N110.8
billion in 9M of 2024.
Profit Before Tax: The profit before tax reached N127.9 billion, in contrast to the loss of –
N255.4 billion in the same period of 2024.
Profit After Tax: The profit after tax amounted to N72.5 billion, compared to a loss of –
N184.3 billion in 9M 2024.
Equity Position: The equity position improved by N72.5 billion.
Early payment of USD 20 million inter-group forex debt in Q3 2025
Summary of the results : Jan-Sept 2025
Jan-Sept 2025 Jan-Sept 2024
Revenue 884,536,899 665,289,761
Cost of Sales (557,661,594) (458,977,837)
Gross Profit 326,875,305 206,311,924
Results from operating activities 181,343,663 110,843,852
Finance income 1,785,024 2,930,478
Finance costs (55,173,305) (369,158,960)
Net finance costs (53,388,282) (366,228,482)
Profit /(loss) before income tax 127,955,382 (255,384,629)
Income tax (expense)/credit (55,473,301) 71,113,867
Profit /(loss) for the period 72,482,081 (184,270,762)
In his remarks on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé
Nigeria PLC, stated, “The results for the nine months signify the sustainability of our return
to profitability since the fourth quarter of 2024. The topline growth of 33% during this period,
along with a profit after tax of N72.5 billion, clearly illustrate that our dedication to
operational excellence and our robust fundamentals are producing the desired outcomes.”
Looking ahead, he emphasized, “we remain focused on enhancing our margin
management initiatives, accelerating transformation of our business, while investing in
programs that create sustainable value for all our stakeholders, starting from our
employees, consumers and extending to our communities and partners across our value
chain.”
Nestlé Nigeria’s nine months 2025 results underscore the company’s resilience and
operational effectiveness, positioning it for continued success in navigating challenges and
seizing future opportunities.
WEMA BANK ANNOUNCES TOP 10 NOMINEES FOR SARA GIVES TO EMPOWER HER AWARD
Boosting Food Security: Governor Lawal Launches Distribution of Fertilizers and Farm Inputs for Zamfara Dry Season Farmers
Union Bank responds to Cardoso’s remarks at MPC meeting with calm assurance
Regberegbe 1986, 87 and 88 Appoints Deputy Speaker As Adviser Okunrin
