Author: Ogochukwu Ndubuisi

CBEX Remains Banned in Nigeria – SEC The Securities and Exchange Commission (SEC) says the Crypto Bridge Exchange (CBEX), operating under the corporate identity of ST Technologies International Ltd., remains banned in Nigeria. SEC, in a public notice issued on Wednesday, said that CBEX, also known as Smart Treasure/Super Technolog, had not been registered by the commission. The commission, however, advised the public to refrain from patronising or transacting any investment related business with the CBEX. The notice read, “The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating…

NGX Suspends Notore Chemical Industries From Trading The Nigerian Exchange Ltd. (NGX) has announced the suspension of trading in the shares of Notore Chemical Industries Plc, effective Wednesday, June 11. This development, according to a corporate disclosure on the NGX website, is in preparation for the formal delisting of the company from the Exchange. The disclosure was signed by Godstime Iwenekhai, Head of the Issuer Regulation Department, NGX. It read: “Trading license holders and the investing public are hereby notified that trading in the shares of Notore Chemical Industries Plc was suspended today, Wednesday, June 11, 2025. “The suspension is…

World Bank Cuts Global Growth Forecast to 2.3% for 2025 Global economic growth is projected to slow to 2.3 per cent in 2025 due to mounting trade tensions and persistent policy uncertainty, according to the World Bank’s latest Global Economic Prospects report. A statement from the bank’s Online Media Briefing Centre on Tuesday noted that the new forecast was nearly half a percentage point lower than the rate projected at the beginning of the year. The report indicated that the slowdown would mark the weakest non-recessionary global growth since 2008. “The turmoil has resulted in growth forecasts being cut in…

Alleged Investment Fraud: Court Remands Afriq System CEO The Federal High Court in Abuja on Tuesday, ordered the remand of Mr Jesam Michael, the Chef Executive Officer (CEO) of Afriq Arbitrage System (AAS) Limited, in Kuje Correctional Centre over alleged investment fraud. Justice Obiora Egwuatu, in a ruling in Michael’s bail application shortly after he was arraigned by the Economic and Financial Crimes Commission (EFCC), refused his bail plea on the grounds of the gravity of the offence and weight of evidence against him. Justice Egwuatu agreed with the argument of the EFCC’s lawyer, Martha Babatunde, that despite the instant…

Crude Oil theft: Nwoko Seeks AI Powered Surveillance, Regional Security Sen. Ned Nwoko, the Chairman of the Senate Ad hoc Committtee on Crude Oil Theft, says Nigeria must implement a robust technological framework to curb crude oil theft in the country. Nwoko in an interview with the News men Abuja on Monday, said that crude oil theft in the Niger Delta region had long plagued the nation, resulting in severe economic losses, environmental degradation, and national insecurity. He said as a country heavily reliant on oil revenues to fund its budget and development, it was imperative that her national assets…

Trump Says Relationship with Musk Over, Warns of ‘Serious Consequences’ if He Funds Democrats Donald Trump said on Saturday his relationship with his billionaire donor Elon Musk is over and warned there would be “serious consequences” if Musk funds U.S. Democrats running against Republicans who vote for the president’s sweeping tax and spending bill. In a telephone interview with NBC News, Trump declined to say what those consequences would be, and went on to add that he had not had discussions about whether to investigate Musk. Asked if he thought his relationship with the Tesla and SpaceX CEO was over,…

Ecobank Appoints Ayo Adepoju as Group Executive Director The Board of Directors of Ecobank Transnational Incorporated (ETI) has announced the appointment of Ayo Adepoju, the current Group Chief Financial Officer (CFO), to the Board as Group Executive Director, effective June 4, 2025. Ayo brings two decades of broad-based leadership experience and deep institutional knowledge to the role, having been instrumental in shaping the Group’s financial transformation, capital strategy, and long-term resilience. Ayo has held several key leadership positions within Ecobank since joining in 2012, including Group Financial Controller and Group Head of Business Performance and Analytics. He has led numerous…

Africa Loses $40bn Annually to Illicit Financial Flows in Extractive Sector – ECA The United Nations Economic Commission for Africa (ECA) says Africa is losing an estimated 40 billion dollars annually to illicit financial flows (IFFs) in the extractive sector. Mr Antonio Pedro, ECA’s Deputy Executive Secretary, in a statement said the trend undermines development and deepens economic inequality on the continent Pedro spoke at a High-Level Policy Dialogue (HLPD) in New York, marking close of the 2025 African Dialogue Series (ADS), themed “Justice for Africans and People of African Descent through Reparations.” He said the massive financial losses due…

Ecobank Holds Fourth Adire Fair with 120 Exhibitors Ecobank Nigeria on Thursday unveiled the fourth edition of its annual Adire Lagos Fair, providing a direct solution for small and medium-sized enterprises (SMEs) seeking market access and growth. The exhibition, featuring over 120 exhibitors from across the nation, addresses key challenges faced by these businesses while also promoting Nigeria’s rich cultural heritage. The four-day event, held at the Ecobank Pan African Centre in Lagos, had in attendance vendors, fashion and cultural enthusiasts, creatives, and shoppers. Originating from Abeokuta, Adire textile is an indigenous indigo-dyed cloth that uses different wax-resistant methods to…

Anambra Crackdown on Illegal Internet Service Providers The Anambra government on Thursday said it has commenced a crackdown on unauthorised Internet Service Providers (ISPs) operating across the state. Mr Chike Maduekwe and Mr Chukwuemeka Agbata, managing directors of Anambra State Physical Planning Board (ANSPPB) and Anambra State Information Communication and Technology (ICT) Agency, respectively disclosed this in a joint statement. They said that the decisive action followed numerous reports of illegal road and sidewalk excavations, as well as the unauthorised erection of poles by several ISPs operating without the required approvals. They said that such activities not only compromised residents’…