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 …
By Esther Ososanya The Enugu Electricity Regulatory Commission (EERC) has reduced the electricity tariff for Band A customers from ₦209 per kilowatt-hour to ₦160/kWh. The new rate takes effect on August 1, 2025. The order was issued to MainPower Electricity Distribution Ltd under EERC Order No. EERC/2025/003 titled “Tariff Order for MainPower Electricity Distribution …
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 …
The federal government has issued over 3.5 million passports in less than two years while saving more than ₦1 billion annually through strategic reforms in the passport issuance system. Minister of Interior, Dr Olubunmi Tunji-Ojo, disclosed this on Tuesday during the commissioning of a new passport front office in Abuja. He said the reforms align …
By Esther Ososanya Nigeria’s President Bola Ahmed Tinubu has assured Nigerians that savings from the removal of fuel subsidies will be used transparently to fund infrastructure, social welfare, and economic reforms. Speaking at the 2025 National Conference on Public Accounts and Fiscal Governance in Abuja, Tinubu reaffirmed his commitment to responsible fiscal leadership. Represented by …
By Esther Ososanya U.S. President Donald J. Trump has signed a sweeping executive order extending the deadline for his proposed reciprocal tariff regime to August 1, 2025, giving over a dozen nations a narrow window to renegotiate trade deals or face tariffs ranging from 25% to 40% on select goods entering the U.S. The executive …
