The deteriorated banking relationship between First Bank and General Hydrocarbons Ltd has become a topic on social media. Both parties are attempting to outdo each other in the public arena and in the credibility of their claims. At stake is an alleged debt of US$225 million.
Prominent figures in Nigerian business and entrepreneurship are involved. They include First Bank Chairman Femi Otedola and General Hydrocarbons Ltd chair Prince Nduka Obaigbena. Otedola is active in the oil, gas, and power sectors, while Obaigbena owns Thisday newspapers and Arise Television.
First Bank’s Claims: First Bank asserts that GHL owes it $225.8 million, the outstanding balance on loans extended for oil mining operations. The bank claims to have fulfilled its obligations under the loan agreements but cites governance issues and a lack of transparency from GHL as the root of the conflict.
GHL’s Response: GHL vehemently denies these claims, stating that it does not owe First Bank any money. The company argues that First Bank failed to meet its financial commitments as outlined in its agreements, leading to operational difficulties.
GHL has also pointed out that First Bank’s management has approved payments directly to service providers, which complicates the narrative of mismanagement or diversion of funds.
Legal Actions
• A Federal High Court in Lagos has issued orders restraining all commercial banks from dealing with GHL’s assets up to the claimed debt amount. This includes preventing any release of funds that could be due to GHL, its directors, or associated parties.
• In response, GHL secured a court order to protect its operations and seek alternative financing, arguing that First Bank’s actions have jeopardised its business and led to significant financial losses.
1. Key Points of Contention
• Allegations of Mismanagement: First Bank accuses GHL of diverting loan proceeds and failing to comply with governance standards. Conversely, GHL claims that First Bank’s delays in disbursement and management practices have caused severe operational inefficiencies.
• Court Proceedings: The ongoing legal battle includes arbitration initiated by GHL and substantive claims filed by First Bank regarding additional credit facilities. The court has granted some preservative orders in favour of GHL while denying others.
In the latest development, Nigerian Navy personnel detained the crude oil cargo on board the Floating Production Storage and Offloading (FPSO) Vessel Tamara Tokoni on Wednesday, 15 January 2025, based on an order by Mr Justice E.A. Obile in Port Harcourt.
The point-counterpoint in the public spat is ahead of the next hearing dates in the case.
It is a new development that big corporate players are washing their dirt in the public sphere. Analysts wonder: Is this ethical or legal? Are they overstepping the bounds of what the law allows?
Meanwhile, some social media pundits took a swipe at Arise TV.
2. The new direction at Ohanaeze Ndigbo
The election of a new executive for Igbo socio-cultural organisation Ohanaeze Ndigbo with Rivers State provided the president lived up to its billing for intrigues and drama.
Senator John Azuta Mbata emerged as president in the election witnessed by five South-East governors.
Former Ohanaeze Secretary General Barrister Uche Okwukwu claimed he emerged president following an election in Port Harcourt.
These came after partisans forced out former Inspector General of Police Mike Okiro from the race. They accused Okiro of unclear state affiliation between imo and Rivers state.
Social media is generally receptive of the John Mbata leadership of Ohanaeze Ndigbo.
3. Drama as Abimbola Owoade emerges the Alaafin of Oyo
The emergence of a new Alaafin of Oyo after two years without an occupant of the throne was a source of much drama. Canada-based Prince Abimbola Owoade emerged the Alaafin.
Oyo State Governor Seyi Makinde quickly presented the new Alaafin with a certificate of recognition on Monday, January 13.
Makinde did so amid protests by nine groups. A significant contention is that the Oyo Mesi, the traditional kingmakers, were excluded from the process.
4. Social media management trends for 2025, by Hootsuite
Hootsuite is a social media management platform that helps businesses and individuals manage their social media presence across various networks. Its analysis suggests three significant trends to watch out for in 2025.
1. Social teams ditch brand consistency to push creative boundaries
With new creative opportunities brought about by social platforms, we’re seeing more and more organisations loosen the reins, toss the traditional marketing playbooks aside, and prioritise entertainment on social media.
What’s interesting about this new creative precedent is its implications on brand consistency — or inconsistency.
Adventurous teams are testing out such distinct voices and personas on social that their content barely resembles their brand personality on other marketing channels.
And these brands aren’t just getting away with it — they’re getting celebrated for it (and driving results). Social marketers who consistently post creative content are more likely to say they have a ‘very positive’ impact on the business than those who post creative content less frequently — a sign that their efforts are paying off.
After all, social media is the perfect playground for further pushing creativity, where even the most buttoned-up brands can have a little fun.
In 2025, more organisations will step outside their creative comfort zone and test content that pushes beyond their brand guidelines to capture and delight audiences.
2. Brands drop in on creators’ comments to pick up new audiences
These days, you can scroll down to the comments section of almost any social post and find a brand or two chiming in on the conversation.
These outbound engagements (brands commenting on other people’s posts) are picking up steam. But the smartest brands strategically comment on creator content, which helps them cultivate community while also exposing their brand to new audiences.
Popping off in the comments may seem simple, but it needs to be approached as strategically as everything else you do on social media.
According to our partner, the global social media agency Social Element, two critical factors drive the success of outbound engagements: timeliness and length.
Engagements decrease dramatically if you comment on an original post that is over 24 hours old. For comment length, keep it short — but not too short. Comments between 10 and 99 characters drive the most engagement; anything more or less, including emoji-only comments, is a total bust.
In 2025, as more brands attempt proactive engagements, the most strategic ones will go beyond the comments section to foster genuine relationships with creators and their communities as a prerequisite to building successful outbound engagement strategies.
3. Generative AI is off probation and officially on the team
The need for content has fuelled the adoption of AI as a social media tool and partner. Sixty-eight per cent of marketers now see AI as a revolutionary technology that can create job opportunities. Social marketers are adopting countless generative AI tools to help with creativity and impact. Most notably, the use of generative AI for social media content creation has shot up.
In-depth research conducted by Hootsuite and Critical Truth indicates that brands should aim to make between 48 and 72 posts per week across platforms. That’s A LOT of work.
And where better to turn for help than generative AI?
From writing captions and translating scripts to creating images and drafting influencer proposals, AI is now everybody’s favorite assistant.
And get this: Our survey shows that organizations in heavily regulated industries like government, finance, and healthcare are now using AI more than those in loosely regulated industries. This is surprising given their strict compliance rules and privacy policies. But this really says it all: AI for content creation has become a standard practice in society.
In 2025, using generative AI to create social content at scale will be table stakes as organisations continue to integrate AI extensively into their strategies and workflows — and those that don’t will get left in the dust.
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