Author: Ogochukwu Ndubuisi

Trade Tensions Rise: Trump Imposes 10% Tariff on BRICS Anti-US Policies Supporters US President Donald Trump has threatened to impose an additional 10% tariff on countries that support BRICS’ policies perceived as anti-US. This move is part of his broader strategy to protect American industries and workers from what he sees as unfair trade practices. Trump’s proposal includes a baseline tariff of 10% on all US imports and a 60% tariff on goods from China. He aims to address trade imbalances and promote domestic manufacturing through these measures. Critics argue that such tariffs could lead to higher prices for consumers…

Nigerian Postal Service Denies Drug Peddling Rumour The Nigerian Postal Service (NIPOST) says it is not involved in any form of drug transportation. NIPOST was reacting to an online publication that alleged that it has been used to peddle drugs since Bola Tinubu became president of the country. The service, in a statement on Sunday in Abuja by Franklin Alao, NIPOST Director of Corporate Communications, said there was no iota of truth in the allegation. NIPOST said rather it works with security agencies and logistics stakeholders, including the National Drug Law Enforcement Agency (NDLEA), the Nigeria Police Force, and the…

No Hidden Charges for NRBVN, CBN Clarifies The Central Bank of Nigeria (CBN) has clarified recent speculations regarding charges related to the newly launched Non-Resident Bank Verification Number (NRBVN) platform,. In a statement by Acting Director of the Corporate Communications Department, Mrs Hakama Sidi-Ali, the apex bank affirmed that no hidden fees have been introduced. Sidi-Ali said that the BVN enrolment for Nigerians residing within the country remained entirely free of charge. According to her, the fee referenced in the reports applies solely to the recently launched Non-Resident BVN (NRBVN) initiative, a service designed specifically for Nigerians living in the…

Nigeria’s Electricity Debt: Benin and Togo Owe Over $11m for Q1 2025 Supply Nigeria is owed over $11 million by Benin and Togo for electricity supplied in the first quarter of 2025, according to the Nigerian Electricity Regulatory Commission (NERC). The debt arises from bilateral agreements between Nigeria and its neighboring countries, where Nigeria’s generation companies supply electricity to these nations. The breakdown of the debt shows that Togo made no payments, while Benin partially settled its debt, resulting in a combined debt of over $11 million. This significant shortfall has raised concerns about the viability of Nigeria’s cross-border electricity…

NDPC Fines MultiChoice ₦766m for Data Privacy Violations The Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).NDPC is a public institution that processes data in furtherance of its mandate as Nigeria’s data protection authority and rely on recognised lawful bases for data processing such as consent, legal obligation and contract. The commission’s Head of Legal, Enforcement and Regulations, Mr Babatunde Bamigboye, disclosed this in a statement issued on Sunday in Abuja. According to Bamigboye, the fine followed an investigation launched in the second quarter of 2024 into suspected violations of…

NDLEA Recovers $17.7m Travelers Cheques Concealed in Books The National Drug Law Enforcement Agency (NDLEA) said on Sunday that it has intercepted a total of 52 pieces of travelers checks concealed in children’s books worth $17.7 million. The cheques, according to a statement issued by the NDLEA spokesman, Femi Babafemi in Abuja, were en route to Malaysia through Istanbul on a Turkish Airlines flight. Babafemi, however, said that the cheques were intercepted by NDLEA operatives at the export shed of the airport on July 4. He said that the interdiction operation which occurred at Lagos airport had a freight agent…

Presco Plc Shareholders Set to Receive N42 Dividend as Company Thrives Presco Plc, Nigeria’s palm oil company, has declared a dividend of N42 per share for the year ended December 31, 2024. The dividend payment is scheduled for August 6, 2025. Shareholders who have completed the e-dividend registration and mandated the Registrar will receive their dividends directly into their bank accounts. The company’s audited financial statements show a 140% surge in after-tax profit to N77.79 billion in 2024, compared to N32.35 billion in 2023. Revenue doubled to N207.5 billion, representing a 102.6% increase from N102.4 billion in 2023. Presco’s profit…

Elon Musk Announces Formation of ‘America Party’ After Feud with Trump Elon Musk, the world’s richest man, has launched a new political party called the “America Party” after a dramatic break with US President Donald Trump. The party’s primary goal is to “give Americans back their freedom” and challenge the country’s existing two-party system, which Musk describes as a “one-party system”. Musk announced the party’s formation on July 5, 2025, after conducting a poll on his social media platform, X, which garnered over 1.2 million responses. Nearly 65% of participants supported the idea of creating a new party. Musk stated…

Court Lifts Suspension: Natasha Akpoti-Uduaghan to Return to Senate Senator Natasha Akpoti-Uduaghan will resume her duties at the National Assembly on Tuesday after a Federal High Court in Abuja nullified her six-month suspension. The court, presided over by Justice Binta Nyako, ruled that the suspension was excessive and unconstitutional, depriving her constituents of representation. In a video message, Akpoti-Uduaghan thanked her supporters and confirmed she would return to the Senate on Tuesday. However, the Senate has set conditions for her reinstatement, including payment of a N5 million fine for contempt and publishing apologies in two national dailies and on her…

Minister of Power Bayo Adelabu Officially Declares Governorship Ambition for Oyo State Nigeria’s Minister of Power, Chief Bayo Adelabu, has declared his intention to contest the Oyo State governorship seat in the 2027 general elections. This announcement was made during strategic meetings with key All Progressives Congress (APC) stakeholders in Ogbomoso and Oyo zones. Adelabu expressed confidence in his ability to compete and emerge victorious, stating, “I’m up to the task. I want to demonstrate my ability to compete and emerge victorious”. He also appealed for unity and forgiveness from aggrieved party members, emphasizing the need for the party to…