Author: Ogochukwu Ndubuisi

Alleged Fraud: AGF Takes Over Mike Ozekhome’s Trial The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, has formally taken over the prosecution of Mike Ozekhome SAN, in the alleged fraud charges brought against him by ICPC. Ozekhome was to be arraigned today by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in an Abuja high court, for alleged forgery in a UK property case When the matter was called, Dr Osuebeni Akpomesingha announced appearance for the prosecution. Kanu Agabi, SAN, a former AGF and Minister of Justice, and others announced their appearance for the…

RIVER Gains 42% in Monster Rally on Improved Fundamentals River (RIVER) has gained more than 42% in the past 24 hours, dramatically outperforming a broadly flat crypto market. This surge extends a parabolic 7-day gain of 250.16%. According to trading data from CoinMarketCap.com, RIVER has climbed to $80.29 during early trading hours on Monday, up by 42% in 24 hours. Trading volume increased by about 15% to $98 million at the press time, with the market cap settling at $1.62 billion. River’s 24-hour surge is driven by a potent mix of a high-profile capital infusion, fresh exchange liquidity, and a…

Bearish Sentiment Squeezes Global Equities, Markets Close in Red With bears on the rampage, the global equities delivered a broadly negative performance last week as investors navigated a sharp deterioration in U.S.- Europe geopolitical relations. The market temperature became tense after President Donald Trump announced plans for new 10% tariffs on eight European countries beginning Feb. 1 – potentially rising to 25% in June. According to Lagos-based investment firm Anchoria Securities Limited, equity benchmarks in the US ended slightly lower as geopolitical headwinds intersected with already cooling sentiment after recent gains. Stock market analysts said the Nasdaq declined by -0.04%…

The Nigerian Education Loan Fund (NELFUND) has debunked widespread reports suggesting that beneficiaries of the federal government’s student loan scheme

WHO Says U.S. Withdrawal Makes “The World Less Safe” The World Health Organization (WHO) has expressed regrets over the United States’ notification of withdrawal from the organization, saying the decision makes “the world less safe”. WHO, in a statement acknowledged several significant contributions of the U.S. to the organization since its founding. The U.S. formally withdrew from the WHO on Thursday, making good on an executive order that President Donald Trump issued on Jan. 20, 2025, his first day in office. “As a founding member of the World Health Organization (WHO), the United States of America has contributed significantly to…

Fitch Ratings has affirmed Kenya’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at ‘B-‘ with a stable outlook.

Anambra Plans Pro-Rata Pay to Stop Monday Sit-at-Home The Anambra Government has announced plans to commence pro-rata payment of salaries to civil servants from February 2026 as part of measures to end the lingering Monday sit-at-home. The decision was reached at the end of the tenure retreat of the State Executive Council (SEC) held on Friday in Awka. During the retreat, members reviewed the activities of Gov. Chukwuma Soludo administration over the last four years and outlined priorities for the new term beginning March 17, 2026. The Commissioner for Information, Dr Law Mefor, disclosed this while briefing journalists on Saturday…

Unified Identity Data will Eliminate Predatory Loan Sharks – eTranzact CEO eTranzact Plc has called for the adoption of a unified and tokenised national identity system to expand access to affordable credit and curb the exploitation of Nigerians by loan sharks. The Chief Executive Officer of eTranzact Plc, Mr Niyi Toluwalope, made the call at a stakeholders’ engagement themed “Shaping the Future of Payments: Balancing Regulation and Innovation.” This was disclosed in a statement issued on Saturday in Lagos by the company’s media unit. Toluwalope identified gaps in the nation’s credit and identity ecosystem as a major driver of the…

NGX Transactions Decline by 23.6% in Weekly Trading Investors traded a total of 3.748 billion shares valued at N99.865 billion in 237,179 deals on the floor of the Exchange during the week. This represented a decline from the 4.607 billion shares worth N130.636 billion exchanged in 263,439 deals in the previous week. As a result, transaction value on the Exchange fell by 23.6 per cent, with the market recording two sessions of gains and three sessions of losses during the week. Meanwhile, the Financial Services Industry led the activity chart with 1.742 billion shares valued at N44.893 billion traded in…

Naira Settles at N1,421 Per U.S. Dollar as FX Pressures Ease The naira settled at N1,421 per dollar at the Nigerian foreign exchange market on Friday as FX pressures eased slightly amidst growing international payments. The official rate peaked at an intraday high of N1,423.5000, according to data released by the Central Bank of Nigeria, suggesting fresh market intervention saved the day. FX data movements over the week revealed that the official spot fx rate weakened by about N4 week on week due to a slowdown in FX inflows. The market anticipates that the local currency will remain stable at…