Author: Ogochukwu Ndubuisi

Osun 2026: Adeleke Joins Accord Party Gov. Ademola Adeleke of Osun has formally joined the Accord Party to seek re‑election in the Aug. 8, 2026 governorship election in the state. A statement by Malam Olawale Rasheed, spokesperson for the governor on Tuesday in Osogbo, said that Adeleke made the announcement at the Banquet Hall of the Government House in the presence of national and state leaders of the party. Adeleke resigned his membership of the People’s Democratic Party (PDP) on Dec. 2. He made this known in a letter dated Nov. 4 addressed to the chairman of the party in Sagba Abogunde, Ward 2, Ede…

Fubara Announces Defection to APC Gov. Siminalayi Fubara of Rivers, on Tuesday, announced that he has defected to the ruling All Progressives Congress (APC). Fubara who was elected governor under the platform of the People’s Democratic Party (PDP), announced the decision at a stakeholders’ meeting in Government House, Port Harcourt. No fewer than 15 members of the state House of Assembly recently defected to the ruling party. The lawmakers who were led by the Speaker, Martin Amaewhule, ascribed their defection to the division within the PDP. Reacting to the defection, the Minister of the Federal Capital Territory, Nyesom Wike, attributed…

FG Woos Investors with Mining Incentive at London Expo The Minister of Solid Minerals Development, Dr Dele Alake, says investors should consider Nigeria’s mining sector to take advantage of seamless profit transfers and duty waivers on imported mining machinery. Alake, at the Resourcing Tomorrow Annual Exhibition and Conference held in London, told global mining companies that the country was ready for investment in the sector. This is contained in a statement issued by the Minister`s Special Adviser, Kehinde Bamigbetan, on Tuesday in Abuja. Alake said Nigeria had made significant strides in its mineral sector, highlighting investment breakthroughs in mineral processing,…

Nigeria Shippers Council Unveils Digital Enterprise Content Management System The Nigeria Shippers Council has unveiled its Digital Enterprise Content Management System (ECMS) to strengthen efficiency, transparency and service delivery within the maritime and blue economy sector. This marks a major step in Nigeria’s maritime digital transformation. Dr Pius Akutah, Executive Secretary of Shippers Council, said this during the unveiling on Tuesday in Abuja. Akutah described the ECMS as a transformative tool and core pillar of the council’s digitalisation agenda. The Shippers’ Council ECMS is the first comprehensive, organisation-wide digital content-management system in the Nigerian maritime regulatory space. It focuses on…

Governors Lift 2025 Education Budgets to ₦3.6trn The Nigeria Governors’ Forum (NGF) says all 36 states have raised their 2025 education budgets to ₦3.6 trillion, reflecting a 53 per cent increase from 2024. NGF Chairman, Gov. AbdulRahman AbdulRazaq of Kwara, disclosed this at the opening of the Nigeria Education Forum in Abuja on Tuesday. He described the development as “a strong commitment to sector reform,” according to remarks delivered on his behalf by the Forum’s Director-General, Dr Abdulateef Shittu. He said Nigeria’s youthful population created “an extraordinary opportunity for strategic and systemic investment” if states maintained consistent policy direction. AbdulRazaq…

Reps Accuse Commercial Banks of Perpetrating Illegal Charges, Deductions The House of Representatives on Tuesday accused commercial banks of perpetrating illegality by deducting inexplicable monies from customers without remittances. The House Ad-hoc Committee Chairman, investigating deduction of taxes from civil and public servants earnings and bank charges on customers account, Rep. Kelechi Nwogu, said this during an investigative panel in Abuja. Nwogu reiterated the panel’s mandate to ensure that all deductions or charges by banks on accounts of customers must be deducted rightly, fined rightly and used rightly. “Commercial banks are perpetrating illegality by deducting inexplicable charges from civil servants,…

Johnvents Group Marks Strong Global Expansion Johnvents Group, a global agribusiness and manufacturing conglomerate, hosted industry leaders, international partners, government officials, traditional rulers including the Deji of Akure, and key stakeholders at its 2025 End-of-Year Celebration held at The Dome, Akure. The evening served as a reflection on a transformative year for the Group and a renewed affirmation of Ondo State’s commitment to enabling enterprise and inclusive prosperity. Delivering the welcome address, Tarun Chawla, Group Executive Director of Johnvents Group, highlighted the organisation’s growth trajectory, strengthened market relevance and expanding global footprint. He expressed profound gratitude to the Government of…

Daily FX Rate with Naira Debit Card Falls to N1460 Daily FX rate for naira debit card transactions worsened by N2 in 24 hours to N1460 per dollar on Tuesday due to tight liquidity pressure in the official market, where the spot rate settled at N1451. The daily quote depreciated by N7 on each international payment when compared with N1453 quoted per naira debit card-funded payment last week. Foreign transactions settled with a naira debit card issued by a commercial bank depreciated amidst broader exchange rate weakening. This happened in contrast to expectations that inflows from remittances will saturate the…

Excess Liquidity: Banks Placements at SDF Window Rise to N3.2trn Deposit money banks’ (DMBs) placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) increased to N3.2 trillion in the absence of significant funding pressures in the money market. This happened while some commercial lenders faced short-term liquidity stress that led to borrowing at the CBN window above the rate earned on placements with the authority. Activities resumed at the Standing Lending Facility (SLF) yesterday as liquidity deficit commercial banks accessed funding from the Apex Bank, signalling tightening. The market opened the day with a surplus balance…

SEC Sets 2026 Recapitalisation Plan The Securities and Exchange Commission has confirmed plans to begin recapitalisation for all capital market intermediaries in 2026, marking a major regulatory shift. Dr Emomotimi Agama, the commission’s Director-General, revealed the move during the Capital Market Committee meeting organised by the SEC in Lagos on Monday. He said the initiative formed part of wider strategies aimed at helping the Federal Government realise its one trillion dollar economy aspiration within the set timeline. Agama noted that the recapitalisation programme aligned with significant reforms already executed in the banking and insurance sectors over the past two decades.…