Author: Olu Anisere

Trump Withdraws US from WHO Pandemic Reforms The United States has officially rejected changes agreed upon last year to strengthen the World Health Organization’s pandemic response, citing concerns over national sovereignty. President Donald Trump’s administration announced the decision, sparking regret from WHO chief Tedros Adhanom Ghebreyesus. The rejected amendments aimed to enhance global preparedness and response to health crises. However, Secretary of State Marco Rubio and Health and Human Services Secretary Robert F. Kennedy Jr. argued that these changes would undermine the country’s ability to make its own health policies, potentially infringing on Americans’ rights to speech, privacy, and personal…

GCR Affirms Lagos State Government Ratings, Outlook Stable GCR Ratings has maintained Lagos State Government’s national scale long-term and short-term issuer ratings at AA-(NG) and A1+(NG), respectively. The agency also affirmed the national scale long-term issue rating of AA-(NG) for various bond issuances under the government’s programmes. In addition, the outlook remains stable for Lagos State’s ratings. The reaffirmation reflects GCR’s continued confidence in the state’s creditworthiness and financial stability. The government of Lagos State is committed to maintaining strong fiscal discipline and prudent financial management practices. According to GCR, the ratings of Lagos State Government underscore its robust and…

First HoldCo Denies Share Sale Claims First HoldCo Plc has debunked reports in certain media outlets about the sale and ownership of its shares in a recent off-market transaction. The clarification relates to ownership of shares exchanged in the reported off-market deal that has drawn public speculation. In a disclosure to the Nigerian Exchange Ltd., the company said some media outlets wrongly claimed that Mr Femi Otedola or the Federal Government purchased the shares. First HoldCo clarified that Barbican Capital Ltd. and its affiliates, as well as Leadway Group and its affiliates, were the actual sellers. RC Investment Management Ltd.…

FAAC Distributes N1.818trn to FG, States, LGs The Federation Account Allocation Committee Committee (FAAC) has shared a total sum of N1.818 trillion, being June revenue to the Federal Government, states and the Local Government Councils (LGs). This is according to a communiqué from FAAC made available by Bawa Mokwa, Director , Press and Public Relations, Office of the Accountant-General of the Federation (OAGF). The revenue was shared at the July 2025 Federation Account Allocation Committee (FAAC) meeting held in Abuja on Friday night. According to the communiqué, the N1.818 trillion total revenue comprised statutory revenue of N1.018 trillion, Value Added…

Nigeria’s Fundamental issue not Its Constitution, Says Nwoko Nigeria’s fundamental issue was not the constitution, but the lack of patriot leadership and accountability. Sen. Ned Nwoko (APC-Delta), and member Senate Committee on Constitution Review, said this in an interview on Channels TV. Nwoko, who representis Delta North Senatorial District and Chairman Senate Committee on Reparations and Repatriation, said structural reforms were also important. He referenced the UK as a model, saying in spite of not having a single codified constitution, the UK operates on a system of Acts of Parliament, yet governance runs smoothly because the people and institutions prioritise…

How $12m was Swapped in 10 days in SunTrust Bank -EFCC Witness Mr Suleiman Ciroma, the Economic and Financial Crimes Commission (EFCC)’s witness, on Thursday, told the Federal High Court in Abuja how the sum of 12 million dollars was swapped in SunTrust Bank within 10 days. Ciroma stated this while being led in evidence by EFCC’s lawyer, Ekele Iheanacho, SAN, before Justice Emeka Nwite, in the ongoing trial of Halima Buba, the Managing Director/CEO of the bank. According to News Agency of Nigeria, Buba and her co-defendant, Innocent Mbagwu, the Executive Director/Chief Compliance Officer of SunTrust Bank, are being…

Exchange Rates Gap Collapses as Naira Falls to N1,533 The naira’s decline against the US dollar at the Nigeria Foreign Exchange Market (NFEM) has caused the official and parallel market rates to converge. At the close of the trading session on Thursday, the gap between the official and unofficial currency markets settled at about N2. Spot FX Data quoted by the Central Bank of Nigeria (CBN) on its platform showed that the naira depreciated to N1533.11 per dollar and touched an intraday high of N1538. It also traded at an intraday low of N1520 before it closed the day at…

UK Lowers Voting Age to 16 in Landmark Electoral Reform The UK government has announced plans to lower the voting age to 16 for general elections, marking a significant overhaul of the country’s democratic system. This move will grant approximately 1.5 million 16- and 17-year-olds the right to vote, aligning England and Northern Ireland with Scotland and Wales, where 16-year-olds can already participate in certain elections. The decision is part of a broader effort to modernize democracy and boost voter turnout. According to Democracy Minister Rushanara Ali, this change is “seismic” and will give young people a greater voice in…

Network International, Blu Penguin Enable Mobile Money Transactions in Ghana Network International (Network), a leading enabler of digital commerce across the Middle East and Africa, has announced a collaboration with Blu Penguin, a Ghana-based fintech and mobile money aggregator, to provide mobile money transactions via Network’s N-Genius™ payment terminals. This collaboration marks a significant milestone in expanding financial inclusion and driving payment innovation across Ghana and the broader West African region. Through this collaboration, Network’s clients in Ghana can now process mobile money payments from all providers using their current N-Genius point-of-sale terminals. This development strengthens Network’s role as a…

Nigeria Eurobond Maturing in Nov 2025 Faces Sell Pressure Offshore investors offloaded interest in Nigeria’s Eurobond maturing in November 2025 and the country’s other US dollar-priced dollar bonds at the international market. The market has started to react to declining yield across the sovereign borrowing papers, signaling weak investors’ sentiment despite improved macro indicators. Nigeria’s headline inflation rate declined to 22.22%, and some analysts said this signals the possibility the Central Bank of Nigeria (CBN) would start cutting back its elevated benchmark interest. But elevated yield on naira assets has been noted as the carrot that brought hot money into…