Author: Olu Anisere

Pipeline Contract: Niger Delta Ex-Agitator Differ over Call for NNPC Boss Sack A Niger Delta ex-agitator, Mr Endurance Amagbein, has disagreed with the Ijaw Youth Council (IYC) over it call for the removal of Mr Bayo Ojulari as the Group Chief Executive Offcer (GCEO), Nigerian National Petroleum Company Limited (NNPC Ltd). Amagbein, the self-styled General, also cautioned the IYC leadership against politicising the plight of the Niger Delta people allegedly over issues of renewal of pipeline surveillance contracts. The ex-militant, who stated this on Saturday in a statement in Abuja, said Mr Ojulari was carefully chosen by President Bola Tinubu…

US Appeals Court Rules Most Trump Tariffs Are Unlawful A US federal appeals court has ruled that most tariffs imposed by President Donald Trump are unlawful, citing that he exceeded his authority under the International Emergency Economic Powers Act (IEEPA). The court’s decision was made on August 29, 2025, and it applies to Trump’s tariffs imposed in April and February, targeting countries such as China, Canada, and Mexico. The court determined that the IEEPA does not grant the president the power to impose import taxes or tariffs, as this authority rests with Congress. The ruling emphasizes that the Constitution grants…

Andray Finance Expands Access to Loans for Underserved Nigerians Andray Finance Ltd., a digital-first financial services provider, says it is redefining access to credit for millions of Nigerians excluded from traditional banking systems. The founder of the company, Mr Bayowa Borokini, said in a statement on Saturday that the company is leveraging technology to make loan financing more inclusive, particularly for individuals, small businesses, and rural communities often ignored by conventional lenders. “Whether it’s a market vendor in Mushin or a growing startup in Yaba, our mission is to ensure that financial support is transparent, fast, and affordable,” Borokini said.…

Stock Market Records 25.8% Drop in Weekly Transaction Value The stock market investors traded 3.199 billion shares worth N85.399 billion in 142,477 transactions on the Exchange in the just concluded week. This is compared to 4.773 billion shares valued at N107.426 billion that exchanged hands last week in 152,965 deals. As a result, the total value of transactions fell by 25.8 per cent week-on-week. The Financial Services Industry led the activity chart with 2.195 billion shares valued at N42.689 billion traded in 66,808 transactions. This contributed 68.61 per cent and 49.99 per cent to the total equity turnover volume and…

Money Market Rates Mixed Amidst Surplus Liquidity in Financial System Interbank rates mixed amidst surplus liquidity conditions in the financial system remained robust despite activity of the Central Bank of Nigeria (CBN) to tighten funding profile. The CBN floated two open market operations where bills worth cumulative of N700 billion were offer to investors subscription. Each auction gained investors attentions, and allotment were debited against the balance in the financial system. On Thursday, the amount in the financial system reduced to N1.428 trillion from N2.578 trillion the previous day, according to data obtained from AIICO Capital Limited, reflecting huge intraday…

Nigerian Insurance Act: Stiffer Penalties for Fake Operators Nigerians who buy insurance can now expect stronger protection, as the newly signed Nigerian Insurance Industry Reform Act (NIIRA 2025) introduces stiffer penalties against fake operators. The new insurance law also makes insurance compulsory for many everyday risks. Signed into law by President Bola Tinubu on Aug. 5, the legislation seeks to clean up the industry, stop quacks from exploiting people. It also ensures buildings, businesses, and even government assets are better covered against accidents, fire, and disasters. Under the new law, anyone running insurance business without a licence faces a fine…

Experts Call for Inflation Relief, Better Living Standards Some financial experts have commended the Federal Government for raising Nigeria’s external reserves to 41 billion dollars, the highest in nearly four years. They also stressed the need to channel more efforts toward easing the economic hardship facing citizens. The experts gave the commendation in separate interviews with the News men in Lagos on Wednesday. They described the development as a positive signal for investor confidence, but warned that stronger reserves would mean little if inflation and poverty remained unchecked. Prof. Sherifdeen Tella of the Department of Economics, Babcock University, Ogun State,…

NNPC, NLNG, suppliers Sign Landmark Gas Supply Deals The Nigerian National Petroleum Company Limited (NNPC Ltd.), Nigerian Liquefied Natural Gas (NLNG), and other Joint Venture (JV) partners have signed agreements to supply 1.3 billion standard cubic feet per day (mmscf/d) of feedgas. This move aims to ensure sustainability and strengthen gas supply for ongoing and future operations. The long-term Gas Supply Agreements (GSAs), with options for extension, were signed on Friday at the NNPC Towers in Abuja to boost gas supply to NLNG’s Bonny Plant. The third-party suppliers include Shell Nigeria Exploration and Production Company Ltd. – Sunlink Energies and…

Israel Warns of Gaza City Destruction Unless Hamas Disarms and Releases Hostages Israel’s Defense Minister, Israel Katz, has issued a stern warning to Hamas, stating that Gaza City will face destruction if the group fails to disarm and release all hostages. Katz’s ultimatum comes after Israeli Prime Minister Benjamin Netanyahu approved plans for a massive assault on Gaza City, despite widespread international opposition. The Israeli military has begun preparations for the evacuation of Gaza City’s one million residents, instructing medical officials and international organizations to prepare for the mass movement of civilians to southern shelters. However, Gaza’s Hamas-run health ministry…

Meta Signs Six-Year $10 Billion Cloud Computing Deal with Google Meta has signed a six-year cloud computing deal with Google worth over $10 billion. This partnership will see Meta utilizing Google Cloud’s servers, storage, networking, and other services to support its massive AI projects. The agreement is one of the biggest in Google’s 17-year cloud unit history and positions Google Cloud as a key provider for Meta’s AI infrastructure needs. The deal is part of Meta’s broader strategy to accelerate its AI infrastructure spending, with CEO Mark Zuckerberg pledging to invest hundreds of billions of dollars in building several massive…