Author: Ogochukwu Ndubuisi

Alleged Breach: Court Strikes Out FCCPC Charge Against MTN Executives The Federal High Court in Abuja on Thursday, struck out the criminal charge filed by the Federal Competition and Consumer Protection Commission (FCCPC) against MTN Nigeria Communications Plc and its top officials. Justice Hauwa Yilwa struck out the suit, in a ruling, following an application for the withdrawal of the case by FCCPC’s lawyer, I. O. Aiaba. Earlier upon resumed hearing on Thursday, Aiaba told the court that a notice of withdrawal was filed on Sept. 8. The lawyer told the judge that the application was brought under Section 108…

Pension Assets Exceeds ₦25trn, Says PenCom DG The National Pension Commission (PenCom) says pension assets have grown to over ₦25 trillion, contributing significantly to national development through strategic investments. Ms Omolola Oloworaran, the Director-General of PenCom, said this on Thursday in Yola at a two-day sensitisation workshop on workings of Contributory Pension Scheme (CPS) for employees and pensioners in North-East. Oloworaran, represented by the Commissioner for Administration in PenCom, Alhaji Bello Abubakar, said the growth reflected improved transparency, governance, and accountability in pension administration. “Presently over 552,000 retirees currently receive regular monthly pensions, while 291,735 others have accessed lump-sum benefits…

Nigeria, Largest Aquaculture Producer in Sub-saharan Africa- Group WorldFish, an international non-governmental organisation, says Nigeria’s aquaculture sector produces about 500,000 metric tonnes of fish annually, making the country the largest aquaculture producer in sub-Saharan Africa. Dr Charles Iyangbe, Country Representative of WorldFish Nigeria, disclosed this at the 40th anniversary celebration of the Fisheries Society of Nigeria (FISON) in Keffi, Nasarawa. Iyangbe said the fisheries and aquaculture sector provides livelihoods for more than 10 million Nigerians. He noted that it was sobering that Nigeria’s fish demand is 3.6 to 3.9 million tonnes yearly, while local production is only 1.2 million tonnes.…

NMDPRA Urges Investors to Decentralise Nigeria’s Downstream Market The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has called on investors in the oil and gas industry to diversify operations and expand beyond the South-South and South-West regions of the country. The Authority said the northern region, with its vast population and growing demand for energy, presents huge opportunities essential for Nigeria’s energy growth and economic balance. Prof. Zainab Gobir, Executive Director, Economic Regulation and Strategic Planning (ERSP) at NMDPRA, made the appeal during the OTL Africa Downstream Energy Week 2025 on Thursday in Lagos. According to her, investors must…

Rand Hits 2023 High amidst Strain Trade Relation with US The South African rand appreciated to around 17.1 per dollar, reaching the highest level since 2023 amidst strained trade relations with the US. The rand appreciation has been fuelled by rising prices of key precious metals, particularly gold, platinum and palladium. The ZAR trades strong as dollar index experienced broad selloff after the US Federal Reserve’s cut rate by 25 basis points on Wednesday. Optimism over the outcome of Thursday’s meeting between President Trump and Chinese President Xi Jinping also provided support. Fitch Solutions analysts expect South Africa will be able to…

FG Approves ₦758bn Bonds to Clear Pension Liabilities- PenCom DG The Federal Government has approved ₦758 billion in bonds to offset long-standing pension liabilities, including pension increases owed since 2007. Ms Omolola Oloworaran, the Director-General of the National Pension Commission (PenCom), made this known on Thursday in Yola at a two-day sensitisation workshop on workings of Contributory Pension Scheme (CPS) for Employees and Pensioners in North-East. Oloworaran, represented by the Commissioner for Administration in PenCom, Alhaji Bello Abubakar, described the approval as a bold step by President Bola Tinubu to bring relief to vulnerable pensioners and restore confidence in pension…

APC Cautions Against Bitterness-Driven Politics The All Progressives Congress (APC) in Lagos State says Nigeria deserves better than infantile and bitterness-driven politics of some opposition leaders in the country. The APC Spokesman, Mr Seye Oladejo, said this in a statement on Thursday, while reacting to opposition leaders’ criticisms of President Bola Tinubu. The former Vice President Atiku Abubakar had criticised Tinubu’s withdrawal of presidential pardon granted to some ex-convicts following complaints in some quarters. Oladejo said: “Nigeria deserves better than desperation politics. “The Nigerian public is wary of this infantile, bitterness-driven politics – where sound governance decisions are attacked for…

Stakeholders Endorse Cassava Flour Inclusion Bill at National Assembly A coalition of stakeholders under the auspices of the National Cassava Industrialisation Group (NCIG) has endorsed the Cassava Flour Mandatory Inclusion into Flour Production Establishment Bill. The National Convenor, Dr Tony Bello who made this known in a statement on Wednesday, said that the coalition had submitted a memorandum in support of the bill to the National Assembly. The bills seeks to provide a legal and regulatory framework for the mandatory inclusion of cassava flour in edible flour production. This is in line with the policy of the Federal Government to…

FG Releases N2.3bn to Varsity Unions to Clear Backlog Of Arrears The Federal Government (FG) has released N2.3 billion to unions in the federal Universities to clear the backlog of arrears. The Federal Government has also reaffirmed its unwavering commitment to revitalising tertiary education sector through decisive fiscal interventions, policy reforms, and sustained dialogue with the Academic Staff Union of Universities (ASUU) and other university-based unions. The Minister of Education, Dr Tunji Alausa, disclosed this on Wednesday while providing updates on the government’s ongoing engagements with ASUU and other tertiary institution unions. Alausa emphasised that President Bola Tinubu remained resolute…

Commodity Prices to Hit 6-Year Low as Oil Glut Expands – World Bank Global commodity prices are projected to fall to their lowest level in six years in 2026, marking the fourth consecutive year of decline, according to the World Bank Group’s latest Commodity Markets Outlook. Prices are forecast to drop by 7% in both 2025 and 2026, driven by weak global economic growth, a growing oil surplus, and persistent policy uncertainty. Falling energy prices are helping to ease global inflation, while lower rice and wheat prices have helped make food more affordable in some developing countries. Despite the recent…