Author: Ogochukwu Ndubuisi

Iran Sets Steep Conditions for Reopening Strait of Hormuz A tense standoff over the Strait of Hormuz is deepening after Iran set steep and wide-ranging conditions for reopening access and shipping lanes through the vital waterway, despite ongoing regional diplomatic efforts mediated through Oman. Iran said it was nearing a final pact with Oman to define new shipping lanes between them through the Strait of Hormuz. Still, it reiterated that the U.S. must meet other conditions, including compensation and an end to sanctions and military threats, before the strategic waterway is reopened. The strait, through which about a fifth of…

Netanyahu Rejects U.S. Gaza Plan, Says No Withdrawal Until Hamas Fully Disarmed Israeli Prime Minister Benjamin Netanyahu on Tuesday rejected a U.S.-backed 15-point Gaza peace plan, stating that Israeli forces will not withdraw from their current lines in Gaza until Hamas has been completely disarmed, a move that has strained relations with Washington. In televised remarks to his right-wing government on Sunday, Netanyahu restated his rejection of Donald Trump’s latest Gaza plan even as Israel’s military has effectively halted attacks in the territory under pressure from the U.S. President. The prime minister said “Israel does not accept the 15-point document,”…

Leadway Assurance Targets Digital Growth After Recapitalisation Leadway Assurance Ltd. says its post-recapitalisation strategy will focus on digital growth, expanded underwriting capacity and stronger commitment to policyholders. The company disclosed this in a statement on Sunday following the successful completion of its recapitalisation exercise under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. It said the recapitalisation had strengthened its capacity to underwrite larger and more complex risks, support financial inclusion and contribute to Nigeria’s economic development. According to the insurer, its post-recapitalisation growth strategy will focus on three key areas: high-net-worth individuals and premium customers; critical sectors and infrastructure;…

The naira closed stronger at N1365 per US dollar at the official currency market, gaining about N3 week on week

Accord Rejects Tinubu Endorsement Claim The Lagos State Chairman of Accord, Mr Dele Oladeji, has dismissed claims that the party endorsed President Bola Tinubu’s re-election bid for 2027. Oladeji, also Secretary of the Forum of Accord Party Chairmen in Southern Nigeria, described the claim as false and contrary to the party’s position. He spoke on Sunday in an interview with the News Agency of Nigeria while reacting to remarks by Prof. Christopher Imumolen. Imumolen, a factional Accord presidential candidate, had reportedly claimed that the party was backing Tinubu for a second term in office. Oladeji said no National Executive Committee…

147 Structures to be Affected by Coastal Highway Service Lane Construction A total of 147 structures in Lagos will be affected by the construction of the Lagos-Calabar Coastal Highway service lane. President Bola Tinubu made this known on Sunday at a stakeholder engagement and flag-off of repair works on Eko Bridge and Marine Bridge in Lagos and the flooded section of Lagos- Ibadan Expressway. The president said that, of the 145 structures, five would be cut fully and the others minimally. Tinubu was represented by Lagos State Gov. Babajide Sanwo-Olu. The President noted that Eko Bridge was one of the…

The Nigerian stock market capitalisation rose to N158.51 trillion as the equities portfolio….

NNPC Says Licensing Round Falls Under NUPRC The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) says the recently concluded oil licensing round falls within the statutory mandate of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The company clarified a statement issued in Abuja on Saturday by its Chief Corporate Communications Officer, Mr Andy Odeh. The clarification followed recent media reports which was attributed to the Oil and Gas Professionals Forum (OGPF), questioning the performance of NNPC Ltd.’s management under its Group Chief Executive Officer, Mr Bayo Ojulari, particularly on the licensing round. Odeh said under the Petroleum Industry Act (PIA)…

FMBN Inaugurates NHF Diaspora Mortgage Loan ‎The Federal Mortgage Bank of Nigeria (FMBN) says it has inaugurated its National Housing Fund (NHF) Diaspora Mortgage Loan for Nigerians abroad to own homes and invest in the housing sector. This is contained in a statement signed by Mr Joe Abuku, Group Head, Corporate Communications and made available to the News Agency of Nigeria in Abuja on Saturday. Abuku noted that the FMBN product was unveiled in London by the Minister of Housing and Urban Development, Dr Muttaqha Darma. Darma, represented by the Minister of State for Housing and Urban Development, Yusuf Ata,…

Oil prices declined over 9% this week as easing geopolitical tensions between the US and Iran