By Esther Ososanya Africa’s richest man and industrialist, Aliko Dangote, has officially stepped down as Chairman of Dangote Cement Plc, the company he founded and built into one of the continent’s largest cement producers. The announcement was made on Friday in a statement issued by the company’s Group Chief, Branding and Communications Officer, Anthony Chiejina. …
By Esther Ososanya The Nigeria Customs Service (NCS) has uncovered a massive violation of the Temporary Admission Permit (TAP) scheme, with 223 companies defaulting in ways that could cost the nation over ₦379.6 billion in unpaid customs duties. In a statement issued Friday, July 25, the Service granted a 21-day grace period, beginning Monday, July …
By Esther Ososanya The number of Americans applying for new unemployment benefits fell unexpectedly last week, providing fresh evidence that the U.S. labour market remains resilient, even as job growth cools and businesses grow more hesitant about hiring. Initial jobless claims dropped by 4,000 to a seasonally adjusted 217,000 for the week ending July 19, …
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 …
