Author: Ogochukwu Ndubuisi

Dangote Warns of Global Oil Shocks A foremost industrialist, Alhaji Aliko Dangote, has warned that Middle-East tensions driving global oil volatility could have far-reaching consequences for Nigeria and African economies. Dangote spoke on Monday in Lagos after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu. He said the visit was to extend Sallah greetings, reconnect with the president after some time, and reaffirm respect and continued support for the administration’s policies. Dangote noted Nigeria had no direct role in the crisis but would still feel the impact because of deep global economic interdependence. “We are part of a…

A significant surge in US dollar demand at the Nigerian foreign exchange market (NFEM) led to a sharp decline in the naira’s value on Monday, according to daily FX data published by the Central Bank.

Money market rates diverged amidst strong liquidity in the financial system, driven by deposits from Nigerian lenders’ activities at the Apex Bank window.

Moniepoint Acquires Orda to Boost Africa’s Food Service Economy Moniepoint Inc. has acquired Orda Africa to strengthen its presence in Africa’s fast-growing food service sector valued at about 50 billion dollars. Orda Africa (“Orda”) is a leading cloud-based restaurant management platform operating in Nigeria. The acquisition will integrate Orda into Moniepoint’s Moniebook platform, an all-in-one point-of-sale and business management solution launched in 2025. The platform provides African businesses with integrated financial and operational tools that combine payments and bookkeeping in a single system. Moniepoint, in a statement on Monday in Lagos, said the move would enable restaurant operators to scale…

Sunderland Stun Newcastle With Late Winner in Dramatic Tyne-Wear Derby Sunderland striker Brian Brobbey scored a 90th-minute winner against Newcastle United to secure a 2-1 win in a hotly-contested Tyne-Wear derby on Sunday. The results lifts them above their bitter rivals in the English Premier League standings. The visitors bounced back from a flat first-half performance to take the game to their rivals in the second, and they were rewarded when Brobbey scored late to snatch the three points. Sunderland got off to a dreadful start as defender Luke O’Nien fluffed his attempt at a long ball from inside his…

NLC Rejects N6trn Bailout, Demands Energy Sector Reform The Nigeria Labour Congress (NLC) has rejected the proposed N6 trillion bailout for power generation companies, saying repeated financial interventions have not improved electricity supply nationwide. The NLC President, Mr Joe Ajaero, who said this in a statement on Sunday in Abuja, called for urgent structural reforms in the energy sector. “The proposed N6 trillion bailout is a mere symptom of deeper structural failures in the power sector, and repeated financial interventions have not translated into improved electricity supply for Nigerians. “We cannot continue to deploy public funds to sustain a fundamentally…

TEF Commits $16m to Empowering Additional 3,200 Young African Entrepreneurs The Tony Elumelu Foundation (TEF) on Sunday unveiled 3,200 new beneficiaries with 5,000 dollars empowerment grant for young African entrepreneurs in its 2026 cohort. The Foundation said that the entrepreneurs would be funded via Heirs Holdings Group Companies, the European Commission, Seme City Development Agency, DEG, the German Development Agency, and the IKEA Foundation. It listed other partners to include UNICEF, the Dutch Government, UNDP and the Rwandan Ministry of Youth and Arts. The Founder of TEF, Mr Tony Elumelu, said that the foundation’s work was vital in providing access…

Premier League Probes Alleged Racist Abuse in Newcastle-Sunderland Derby The English Premier League is investigating alleged discriminatory abuse during Sunderland’s 2-1 derby win away to Newcastle United. The probe follows a report of racial abuse directed at a Sunderland player during the second half. The incident occurred after Newcastle’s Sven Botman received treatment for a head injury, prompting referee Anthony Taylor to halt play briefly A Premier League statement read: “Today’s match was temporarily paused in the second half. “This followed a report of discriminatory abuse from the crowd, directed at Sunderland’s Lutsharel Geertruida. “This is in line with the…

IAEA Confirms Iran Nuclear Facility Has Been Bombed The International Atomic Energy Agency (IAEA) has confirmed that Iran’s Natanz facility for nuclear enrichment has been bombed by the United States and Israeli airstrikes. Secretary General of IAEA, Rafael Grossi reported early Saturday that Iran’s Natanz facility for nuclear enrichment had been bombed. The bombing followed the continuing strikes across the country by Israel and the United States and counterstrikes by Iran around the Gulf. “The IAEA has been informed by Iran that the Natanz nuclear site was attacked today,” the agency posted. The UN-backed nuclear agency added that “no increase…

Access Bank Partners King’s Trust to Drive Youth Empowerment Across Africa Access Bank Plc and King’s Trust International have formalised a strategic partnership aimed at expanding opportunities, entrepreneurship and sustainable livelihoods for young people across Africa. The agreement was signed in London by the Managing Director/Chief Executive Officer of Access Bank, Mr Roosevelt Ogbonna, and the Chief Executive Officer of King’s Trust International, Mr Will Straw. According to a statement by the bank made available to newsmen on Saturday in Lagos, the event was witnessed by prominent stakeholders. They included Mr Aigboje Aig-Imoukhuede, Co-Chair of King’s Trust International Africa Advisory…