Author: Ogochukwu Ndubuisi

Disbursed Osun LG Funds to be Recovered, Says Assembly Speaker The Speaker, Osun House of Assembly, Mr Adewale Egbedun, has said the legislative would ensure the recovery of local government funds unlawfully disbursed by by a bank to some council executives. Egbedun stated this on Sunday during a news conference on the developments and status of the state local government funds. He said that the legislature had received reliable intelligence that the bank was illegally releasing local government funds in the state to the All Progressive Congress (APC) council chairmen and councillors. Egbedun also claimed that the disbursement was on…

Bonga FPSO Maintainance to Impact Nigeria’s Oil Production Nigeria’s oil exports will fall by 225,000 barrels per day in February following the shutdown of the Bonga FPSO for scheduled turnaround maintenance. Gas output will also decline by 150 million standard cubic feet per day during the maintenance period. Shell Nigeria Exploration and Production Company Ltd. (SNEPCo) confirmed the development in a statement issued on Sunday. Its Communications Manager, Mrs Gladys Afam-Anadu, said SNEPCo had begun turnaround maintenance on the Bonga FPSO. She described the exercise as a statutory integrity assurance programme designed to extend the facility’s operational lifespan. SNEPCo Managing…

Stop Rating NASS Members by Number of Constituency rojects –Bassey Akiba Mr Bassey Akiba (APC-Cross River), on Saturday night decried the current system of rating lawmakers by the number of constituency projects executed, saying it undermines their primary role of lawmaking. Akiba, representative of Calabar Municipality/Odukpani Federal Constituency, said this when he interfaced with some selected journalists in Calabar. He said that Nigerians should focus on demanding good governance instead of project execution. According to him, lawmaking is the core function of a legislator. He noted that while there was nothing wrong with Nigerians demanding good governance from their representatives,…

Labour Party Commences Congresses in March — Otti Labour Party will commence nationwide congresses from March as part of efforts to strengthen the party’s internal structures and reposition it ahead of future elections. Leader of the party, Gov. Alex Otti, made this known while addressing key stakeholders, including members of the party’s Board of Trustees, the National Working Committee (NWC) and leaders of organised labour on Sunday in Abuja. Otti, who is the governor of Abia, described the engagement as successful, noting that discussions focused on the organisation of congresses from the ward level to the national convention, validation of…

Bitcoin (BTCUSD) fell to $82k band as selling pressure in the cryptocurrency market heated over the last 24 hours

Moniepoint Disburses Over N1tn to SMEs in 2025 Moniepoint Inc. has disbursed over N1 trillion in credit to thousands of small and medium-scale enterprises (SMEs) in Nigeria in 2025, marking a significant milestone in the country’s financial inclusion journey. This achievement is a testament to Moniepoint’s commitment to empowering Nigerian businesses, particularly those in the informal sector, which often struggle to access traditional banking services. The fintech company, which operates as Nigeria’s largest merchant acquirer, processed N412 trillion in transaction value and handled over 14 billion transactions in 2025, powering about 80% of in-person payments nationwide. Moniepoint’s microfinance banking unit…

Elizade JAC, Sterling Bank Launch Auto Financing Partnership Elizade JAC Autoland Limited has partnered with Sterling Bank Plc to offer Nigerians flexible vehicle financing options, with repayment plans stretching up to four years. This partnership combines Sterling Bank’s financial expertise with Elizade JAC’s automotive portfolio and service experience, making vehicle ownership more accessible. The collaboration aims to ease the vehicle acquisition process for individuals, employees, and small and medium-scale enterprises . According to Demola Ade-Ojo, Managing Director of Elizade JAC Autoland Limited, the collaboration will ease the vehicle acquisition process. Customers can select vehicles from JAC Motors showrooms, obtain a…

AXA Mansard Profit Surges by 117% in 2025, EPS Hits 279k AXA Mansard Plc.’s profit after tax grew by 117% to N26.88 billion in the financial year 2025, according to details from the group’s audited financial statement. The significant year-on-year increase in the group’s bottom line was supported by 14% surge in insurance service results and other investment revenue. According to audited financials, AXA Mansard insurance service results surged to N12.836 billion at the end of 2025, up by 14% year on year from N11.269 billion in the comparable period. AXA Mansard Plc.’s insurance revenue edged higher by 59% year-on-year…

Petrol Price May Hit N1,000 Per Litre as Crude Oil Surges Past $70 Petrol prices are expected to rise to N1,000 per litre as crude oil prices surge past $70 per barrel, marking a 10% increase from last week’s price of $64 per barrel. The price hike is attributed to global political tensions, rather than a sudden increase in demand . The Dangote Refinery has already increased its gantry price from N699 to N799 per litre, a 14.3% rise. Marketers are passing on the increased cost to consumers, with some petrol stations selling at N850 per litre, up from N750.…

US Government Enters Partial Shutdown as Congress Misses 2026 Budget Deadline The US government has entered a partial shutdown after Congress failed to approve the 2026 federal budget before the midnight deadline, resulting in a temporary lapse in federal funding. The shutdown affects approximately three-quarters of federal operations, including departments overseeing education, health, housing, and defense . The funding lapse followed a breakdown in negotiations amid Democratic outrage over the deaths of two protesters in Minneapolis at the hands of federal immigration agents, stalling discussions on funding for the Department of Homeland Security (DHS). The Senate had approved a package…