Tony Elumelu has resigned as the group chairman from the board of directors of the United Bank for Africa (UBA) Plc. The bank disclosed this in a statement on Monday, noting that its Board of Directors, at a meeting held on July 6, accepted Elumelu's retirement letter. It said the board had appointed Non-Executive Director …
The revocation of the licenses of 46 microfinance banks by the Central Bank of Nigeria (CBN) could significantly disrupt access to financial services for rural communities, women, and small businesses. A senior Shariah analyst, Imam Nma Shuaib, raised the concern, lamenting that the decision would significantly affect Kano State unless urgent measures are taken to …
A Federal High Court in Abuja has fixed July 10 to deliver judgment in the suit filed by the Economic and Financial Crimes Commission (EFCC) seeking the final forfeiture of 57 properties allegedly linked to former Attorney General of the Federation and Minister of Justice, Abubakar Malami. The case came up on Monday before Justice …
The Federal Government has announced plans to evacuate another batch of 270 Nigerians from South Africa on Wednesday, July 8, 2026, following renewed xenophobic tensions in the country. The returnees are expected to arrive at the Murtala Muhammed International Airport, Lagos, on Wednesday morning aboard an Air Peace flight chartered by the Federal Government for …
The Senate is expected to address the controversy surrounding the alleged Presidential Foreign Intervention Promotion Council (PFIPC) when plenary resumes on Tuesday, following growing concerns over a N1.3 billion allocation to the council in the 2026 Appropriation Act. The controversy has intensified after the presidency maintained that the council was never lawfully established, raising questions …
The federal government recorded a drop in its electricity subsidy payment in the first quarter of 2026 amid persistent blackouts. A report released by the Nigerian Electricity Regulatory Commission (NERC) shows that the federal government incurred a total electricity subsidy obligation of ₦358.32 billion in the first quarter (Q1) of 2026, down from ₦418.79 billion …
The Office of the Accountant-General of the Federation (OAGF) has said the controversial Presidential Foreign Intervention Promotion Council (PFIPC) has neither an operational account with the Central Bank of Nigeria (CBN) nor received any public funds, despite being listed with a ₦1.3 billion allocation in the 2026 appropriation act. The clarification comes amid growing concern …
The Nigerian Shippers' Council (NSC) has disclosed that it protected more than N90.60 billion and $1.348 million in economic value for Nigerian shippers and the national economy through regulatory oversight, dispute resolution and reforms aimed at reducing the cost of doing business at the nation's ports. The Executive Secretary and Chief Executive Officer of the …
Fresh concerns have emerged over the transparency and accountability of Nigeria's public finance management following revelations by the International Monetary Fund (IMF) that public expenditure equivalent to two per cent of the country's Gross Domestic Product (GDP) was omitted from recent national budgets. The disclosure has reignited debate over fiscal discipline, with Director of the …
Official statement dismisses claims that only Europe-based stars have a realistic chance The organisers of the Ballon d'Or have reaffirmed that footballers can win the prestigious individual award regardless of the league or country in which they play, dismissing the long-held belief that only players based in Europe stand a realistic chance. The clarification …
