Author: Ogochukwu Ndubuisi

Alleged Fraud: EFCC Witness Fails to Link Emefiele to Zenith Bank Account An Economic and Financial Crimes Commission (EFCC) witness on Friday failed to link Godwin Emefiele to accounts in Zenith Bank in the alleged property fraud case. Emefiele, a former governor of the Central Bank of Nigeria (CBN) is charged with property fraud among others. The property is located at Plot 109, Cadastral Zone C09, Lokogoma District, Federal Capital Territory (FCT), Abuja, measures 150,462.86 SQM and comprises 753 housing units. Emefiele and Eric Ocheme, at large, are also charged with unlawfully keeping in their possession billions of naira in…

Tinubu Sacks Service Chiefs, Appoints Oluyede as New CDS President Bola Ahmed Tinubu has approved major changes in the leadership of the Armed Forces, appointing new Service Chiefs in a decisive move aimed at strengthening national security architecture. According to a statement on Friday by his Special Adviser on Media and Public Communication, Chief Sunday Dare, the President named former Chief of Army Staff, Lt. General Olufemi Oluyede as the new Chief of Defence Staff, replacing General Christopher Musa. Major-General W. Shaibu has been appointed Chief of Army Staff, Air Vice Marshal S.K. Aneke takes over as Chief of Air…

Facebook, Instagram, TikTok Violate EU Rules – European Commission Preliminary findings by the European Commission on Friday shows that Facebook, Instagram and TikTok violate European Union rules, which could lead to hefty fines Meta, the parent company of Facebook and Instagram, and TikTok now have the possibility to defend themselves against the allegations or make adjustments to their platforms in order to avoid financial penalties. According to the commission, the three platforms do not provide researchers with sufficient insight into their data as required under the EU’s Digital Services Act (DSA). Such publicly accessible data sets should enable scientists to…

US Inflation Lands As Shutdown Starves Fed Jobs Data For Rate Cuts The long-awaited US inflation report landed today, showing price pressures continuing to cool, but it’s the jobs data that will really move the needle for the Federal Reserve. But with the government shutdown ongoing, there are growing questions over whether the central bank will even have access to that critical information before its next policy meeting, warns Nigel Green, CEO of global financial advisory giant deVere Group. The Consumer Price Index (CPI) showed that headline inflation rose 3.0% year-on-year in September, slightly lower than expected, while core inflation…

Africa, China Reaffirm Commitment to 2035 Vision Africa and China have reaffirmed commitment to accelerating the implementation of the China-Africa Cooperation 2035 Vision. The initiative is aimed at building a community with a shared future anchored on peace, sustainable growth and people-centred development. The commitment was made on Thursday during the 6th Abuja Forum. The forum had as theme: “Deepening the Implementation of the China-Africa Cooperation 2035 Vision: Forging a Closer China-Africa Community with a Shared Future (Putting Theory into Practice).” The annual forum, jointly hosted by the Gusau Institute (GI) and the Institute of African Studies at Zhejiang Normal…

Africa Can’t Talk Devt When Leadership Is Transactional – Wike The Minister of the Federal Capital Territory (FCT), Nyesom Wike, says. Africa cannot achieve development under a system of “transactional leadership”. Wike said this while delivering a keynote address titled “Reimagining Africa’s Leadership and Investment” at the 2025 Innovate Africa Conference, on Thursday in Abuja. He explained that the continent’s persistent under development, in spite of its vast resources, was a direct consequence of poor governance and self-serving politics. He lamented that Africa’s leadership trajectory—both in military and civilian dispensations has for decades been shaped by “self-serving conspiracies that bear…

Zenith Bank Reaffirms Support For Africa Climate Change Summit Zenith Bank Plc has reaffirmed its commitment to supporting the Africa Business Ventures and Investment Group (ABVIG) to ensure the success of the Africa Climate Change and Green Investment Summit (AICIS-2026). Dame Adaora Umeoji, Group Managing Director/CEO of Zenith Bank, made this known in a statement following a courtesy visit by Moses Owharo, Chairman of the AICIS-2026 Planning and Organising Committee, in Lagos on Thursday. She said the bank would support the global summit scheduled for Nov. 25 to 28, 2026, aiming to promote sustainable infrastructure, climate resilience, and inclusive economic…

Nigeria Seeks Higher OPEC Quota to Boost Hydrocarbon Revenue Nigeria plans to demand a higher oil production quota at the next meeting of the Organisation of Petroleum Exporting Countries (OPEC) scheduled for November, according to the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri. In commentary note, CSL Stockbrokers Limited noted that the Minister explained that Nigeria’s current OPEC quota of about 1.5 million barrels per day (mbpd) no longer reflects the country’s true production capacity. The investment firm said the move signals the government’s determination to reposition the oil sector as a stronger contributor to national revenue…

Dangote to Sell 10% Interest in 650,000 bpd Refinery With a plan to list 10% on the Nigerian Exchange, Dangote Refinery is set to more than double its current refining capacity to about 1.4 million bpd, becoming the world’s largest refining facility and surpassing the 1.36 million bpd refinery in Jamnagar, India. President and Founder of the Dangote Industries Limited (DIL), Aliko Dangote, told S&P Global Commodity Insights, in an interview, that the management of the $20 billion refining and petrochemicals complex, is also thinking of altering its current business model and is set to list up to 10 per…

FirstBank Integrates PAPSS into App to Ease Cross-Border Payments First Bank of Nigeria Ltd (FirstBank) has announced the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT app. A statement on Wednesday by Olayinka Ijabiyi, First Bank’s Acting Group Head, Marketing and Corporate Communications said that the platform is enabling customers make instant, secure and local currency-based cross-border payments across Africa. PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables instant, low-cost payments in local currencies between African countries. Speaking on…