By Esther Ososanya Hon. Ikeagwuonu Ugochinyere, Chairman of the House Committee on Petroleum Resources (Downstream), has raised alarm over fresh political attempts to sack the statutory leadership of Nigeria’s key petroleum regulatory agencies, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). “We didn’t labour for two …
By Ososanya Esther The Nigeria Customs Service (NCS) has officially launched the B’Odogwu clearance platform, marking a major shift in port operations. The new system comes with a flat 4% Free On Board (FOB) charge, which replaces several older levies. Comptroller-General of Customs, Adewale Adeniyi, announced the change during a high-level stakeholders’ town hall in …
By Esther Ososanya Nigeria may be basking in the glow of global praise, but Central Bank Governor Olayemi Cardoso says it’s no time to relax. Speaking during the Monetary Policy Committee (MPC) meeting in Abuja, Cardoso acknowledged the International Monetary Fund’s (IMF) commendation of Nigeria’s recent fiscal and monetary reforms but issued a stern reminder,the …
By Esther Ososanya Africa’s richest man, Aliko Dangote, has delivered a sobering warning to the continent’s leaders: Unless powerful fuel import interests are confronted head-on, no new refinery will ever be built again in sub-Saharan Africa. Speaking at the Global Commodity Insights Conference in Abuja, the billionaire industrialist declared that entrenched rent-seeking, offshore fuel cartels, …
By Esther Ososanya Dealmaking in the U.S. upstream oil and gas sector dropped sharply in Q2 2025. Investor caution increased as energy and equity markets turned volatile. Merger and acquisition (M&A) deals fell by 21%, totalling just $13.5 billion between April and June. This slump contrasts sharply with recent performance. In 2023, the sector recorded …
A company’s Corporate Affairs Commission (CAC) certificate does not give it the right to collect or manage people’s money. That was the strong warning from Dr Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), as Nigeria battles a surge in Ponzi schemes disguised as legal businesses. “Being registered by CAC doesn’t mean you’re …
As Ponzi schemes evolve in Nigeria, many are no longer led by faceless scammers. Instead, they now wear the familiar faces of celebrities, social media influencers, and online content creators. From actors to comedians and even musicians, these public figures are lending legitimacy to illegal investment platforms, often unknowingly, but sometimes for a fee. When …
The Securities and Exchange Commission (SEC) has declared the rising wave of Ponzi schemes in Nigeria a national emergency, warning that the proliferation of unregulated investment platforms is not only wiping out life savings but threatening the country’s economic and social stability. “Ponzi schemes have become a dangerous epidemic,” says Dr Emomotimi Agama, Director-General of …
By Esther Ososanya The Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has called for urgent action to unlock the power of digital trade across the continent. Speaking at a side event during the 32nd Afreximbank Annual Meetings in Abuja, Mene described digital trade as one of the most promising tools …
By Esther Osansanya The Federal Government of Nigeria has called on African nations to harness the collective power of their sovereign wealth funds (SWFs) to drive transformative development, deepen regional integration and accelerate sustainable infrastructure delivery across the continent. Vice President Kashim Shettima made the call at the official opening of the 2025 Africa Sovereign …
