Author: Ogochukwu Ndubuisi

Trump Says op to Break Iran’s Strait of Hormuz Blockade to be Paused U.S. President Donald Trump on Tuesday said that “Project Freedom,” the initiative to secure shipping through the Strait of Hormuz, will be paused “for a short period of time” to see whether an agreement with Iran can be finalised and signed. Since the start of hostilities between the United States, Israel, and Iran in late February, Tehran has effectively halted shipping through the Strait of Hormuz through threats and attacks, while Washington has imposed a naval blockade on vessels entering or leaving Iranian ports. Trump said in…

Mr Wole Ogunsanya, Chairman of Petroleum Technology Association of Nigeria (PETAN), says African oil and gas firms are joining forces to tackle energy poverty.

Zenith Bank Appoints Engr.Mustafa Bello as Chairman at AGM Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of Directors. The appointment, which takes immediate effect, has been approved by the Central Bank of Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026. Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory compliance, and strategic oversight for which Zenith Bank is widely respected. He joined the Board…

Justin Sun and Trump’s Crypto Venture Take Their Feud to Court What started as a bitter argument on social media has turned into a full-blown legal war. Justin Sun, one of the biggest names in the global cryptocurrency world, and World Liberty Financial, the Trump family’s flagship crypto company, are now suing each other, and the fight is getting uglier by the day. World Liberty Financial fired the latest shot on Monday, filing a defamation lawsuit against Sun in a Florida state court in Miami-Dade County. The company accused the Chinese-born billionaire of running a deliberate online campaign to destroy…

Jim Ovia Retires as Zenith Bank Chairman After 12 Years Zenith Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory guidelines. The bank disclosed this in a corporate disclosure through the Nigerian Exchange Ltd. on Tuesday. The bank said the retirement complied with the corporate governance guidelines of the Central Bank of Nigeria(CBN) for commercial and other categories of banks. The guidelines stipulate a maximum tenure for non-executive directors and board chairmen. It said, “Having served the mandatory 12 years as a Non-Executive Director and…

LBIC Posts N1.66bn Profit in 2025, Plans Digital Expansion The Lagos Building Investment Company (LBIC) Plc has reported a 43 per cent increase in profit before tax to N1.655 billion for the 2025 financial year. The Chairman of the Board, Mr Hakeem Ogunniran, said this at the company’s 21st Annual General Meeting (AGM) on Tuesday in Lagos. Ogunniran said the performance reflected the company’s resilience in spite of macroeconomic headwinds. “Our year-end results reflect strong growth across key indicators, underscoring our resilience and market opportunities,” he said. He said LBIC’s gross earnings rose by 41 per cent to N3.565 billion…

Court Dismisses N3m Suit for Damages Against First Bank The National Industrial Court in Ibadan, on Tuesday, dismissed a suit by a former employee, Mr Oyetunji Ajao, against First Bank of Nigeria, seeking N3 million damages over the delay in payment of his retirement benefits. The News Agency of Nigeria reports that Ajao, who retired from First Bank of Nigeria on May 31, 2008, had filed a suit against the bank over his unpaid gratuity and other retirement benefits totaling N5 million The claimant, through his counsel, Mr Babatunde Samuel had urged the court to order the bank to pay…

The South African rand weakened against the dollar to R16.80 but held steady against the euro at R19.63 and the pound at R22.70, First National Bank (FNB) said in its brief on Tuesday.

Defections: ADC Loses 18 Reps to NDC, APC Seventeen members of the House of Representatives on Tuesday defected from the African Democratic Congress (ADC) to the National Democratic Congress (NDC). In separate letters read by the Deputy Speaker, Rep. Benjamin Kalu at plenary, the members cited the ongoing leadership crisis in the ADC as a reason for their actions. Mr Peter Obi, the presidential candidate of Labour Party (LP) in 2023 general election and former Kano Governor, Dr Rabiu Kwankwaso had defected from ADC to the NDC last Sunday, citing internal crisis. The members who joined NDC are Rep. Yusuf…

Senate Defections: Umeh, Abaribe Dump ADC Sen. Victor Umeh(ADC-Anambra) and Sen.Enyinnaya Abaribe (ADC-Abia) on Tuesday announced their defections from the African Democratic Congress (ADC) to different political parties, citing leadership crises and internal disputes. Umeh, who represents Anambra Central Senatorial district, defected to the Nigeria Democratic Congress (NDC), while Abaribe, who represents Abia South Senatorial  District, defected to the Labour Party (LP). President of Senate, Godswill Akpabio, announced the defections in separate letters at plenary. Umeh, in his letter, said the decision was reached after extensive consultations with key stakeholders, including his family, constituents, and political allies. “I have taken…