Author: Ogochukwu Ndubuisi

US Pauses Immigrant Visas for 75 Countries Over Public Charge Rule The United States has paused immigrant visa processing worldwide as the Trump administration intensifies vetting of applicants deemed likely to depend on public assistance. The State Department confirmed the move on Tuesday, saying it had in early August directed all embassies and consulates to adjust visa appointment schedules to allow for in-depth training of consular officers. The agency said the exercise was to ensure officers are fully equipped to evaluate every applicant comprehensively and consistently under the public charge rule. Under the directive, which forms part of the updated…

Moniepoint Shuts Down MonieWorld, Its UK Remittance Business Moniepoint Inc. has shut down MonieWorld, its UK-based remittance product for Nigerians in the diaspora, less than 18 months after launch. The fintech announced a strategic transition of MonieWorld as it refocuses capital, technology and operational resources on its core African markets. “Moniepoint Inc., Africa’s all-in-one financial platform, today announced that MonieWorld, its UK-based remittance business, is undergoing a strategic transition as the Group refocuses its resources on building and scaling its core platform for African businesses,” the company said in a statement shared with TechCabal on Tuesday. The move marks a…

U.S. to Revoke 200,000 Visas The U.S. is set to revoke no fewer than 200,000 visas, according to the Department of State. The move would be the largest single mass revocation of visas in U.S. history and is expected to face legal challenges. According to documents obtained by The Associated Press and two U.S. officials, the action will be taken by the Department of State in coordination with the Department of Homeland Security. The revocation is expected to affect business and tourism visas for foreigners who have applied for or are currently seeking asylum status in the United States. The…

PMS Supply, Consumption Dip in July – NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it recorded a decline in fuel supply and consumption in July compared to June, even as diesel stock sufficiency improved significantly. According to the NMDPRA monthly Factsheet for July 2026, crude oil receipts by domestic refineries dropped from 0.632 million barrels per day (mbpd) in June to 0.585 mbpd in July, an eight per cent variation. The report showed that Premium Motor Spirit (PMS) daily receipts fell from 50.6 million litres per day (lpd) in June to 45.5 million litres per day…

NNPC, Shell, 2 Others Seal Deepwater Bonga Deal, Target $21bn Investment The Nigerian National Petroleum Company Limited (NNPC Ltd.) and the OML 118 Contractor Parties have executed the Addendum to the OML 118 Production Sharing Contract (PSC) and the Addendum to the Dispute Settlement Agreement (DSA). The agreement, which was signed at the NNPC Towers on Monday in Abuja, marked a major milestone in advancing the deepwater Bonga Southwest/Aparo (BSWAp) project toward Final Investment Decision (FID). The parties included Shell Nigeria Exploration and Production Company Limited (SNEPCo), Esso Exploration and Production Nigeria (Deepwater) Limited and Nigerian Agip Exploration Limited (NAE).…

Lagos Makes Retirees Benefits State Priority The Lagos State Government, under the leadership of His Excellency, Mr. Babajide Olusola Sanwo-Olu, and  Dr. Kadri Obafemi Hamzat, prioritises the benefits, well-being, and health of its retirees who have spent most of their active years in the service of the State. Contrary to what some protesting retirees said, the State has recorded what stands as the most outstanding performance on pension matters in the history of the State, delivering sustained, measurable improvements in the welfare of retired public servants under the Contributory Pension Scheme (CPS). The Lagos State Pension Commission has paid N168.2…

GCR Ratings has assigned a national scale long-term indicative Issue rating of BBB+

NVIDIA Tokenised Stock Dips on August 26 Pre-Earnings Pressure NVIDIA Tokenised Stock (Robinhood) is down 2.84% to $210.22 in 24 hours, moving independently of a surging crypto market and primarily driven by weakness in the underlying Nvidia equity ahead of its earnings report. Pre-earnings pressure on the underlying Nvidia stock weighed on momentum amid broader crypto market weakness, alongside sector-wide selling in traditional equity and high expectations. The tokenised stock’s price is directly tied to Nvidia’s Nasdaq-listed shares (NVDA), which fell over 2% on August 24 amid a broader tech stock decline. Investors are exhibiting caution ahead of the company’s…

Zelensky: Ukraine Wants Peace but Won’t Surrender Ukraine wants peace but will not just give in to Russia at any price, President Volodymyr ​Zelensky said in a defiant speech on Monday. Zelensky said this as foreign leaders gathered in Kyiv to mark its Independence Day celebrations. British Prime Minister Andy ‌Burnham and European Council President Antonio Costa were among the foreign dignitaries present for celebrations of the 35th anniversary of Ukraine’s break from the Soviet Union. Burnham, making his first visit to the Ukrainian capital as prime minister, was due to announce British support to help Kyiv boost its domestic…

First Quarter Pension Contributors Rise by 143,248 – PenCom The National Pension Commission (PenCom) says cumulative Retirement Savings Account (RSA) registrations under the Contributory Pension Scheme (CPS) rose by 143,248 in the first quarter of 2026 (Q1’26). PenCom disclosed this in its Q1 2026 report, stating that cumulative RSA registrations increased from 11,040,227 at the end of Q4 2025 to 11,183,475 by the end of Q1 2026. The commission said the increase followed the opening of 143,248 new accounts during the quarter, higher than the 114,864 accounts opened in Q4 2025. It attributed the growth to improved digital onboarding and…