News Review

11/06/2025

Segun Sowunmi, a close ally of Atiku Abubakar and former spokesperson for his 2023 presidential campaign, has revealed he may leave the Peoples Democratic Party (PDP) for the ruling All Progressives Congress (APC), citing internal issues within the PDP and his admiration for the APC’s leadership.

Segun Sowunmi, a close ally of Atiku Abubakar and former spokesperson for his 2023 presidential campaign, has revealed he may leave the Peoples Democratic Party

11/06/2025

An Indian national, Tukur Shamsudden, alongside 12 others, was on Tuesday arraigned before the Federal High Court in Lagos by the Police Special Fraud Unit (SFU), Ikoyi, over the alleged unlawful diversion of Automotive Gas Oil (diesel) worth over N4 billion, belonging to Dangote Industries Limited.

An Indian national, Tukur Shamsudden, alongside 12 others, was on Tuesday arraigned before the Federal High Court in Lagos by the Police Special Fraud Unit (SFU

11/06/2025

The Securities and Exchange Commission (SEC) has directed all public companies and their Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred,” particularly those dating back before the enactment of the Finance Act 2020.

The Securities and Exchange Commission (SEC) has directed all public companies and their Registrars to stop treating unclaimed dividends older than 12 years as

11/06/2025

Enugu Honours First Lady Remi Tinubu with Chieftaincy Title ‘Ugosimba 1’

The First Lady, Senator Oluremi Tinubu, has been honoured with the chieftaincy title of Ugosimba 1 of Enugu by the Enugu State Traditional Rulers Council.

The prestigious title, which translates to jewel or eagle from another kingdom, was conferred during her two-day working visit to Enugu on Tuesday.

Chairman of the Council, Igwe Ikechukwu Asadu, said the title recognises Mrs Tinubu’s love for the state, her humanitarian efforts, and contributions to national development.

“You served three terms in the Senate and were honoured with the Commander of the Order of the Niger. Beyond politics, we admire your compassion for the less privileged, your support for nurses and midwives, and your work in uplifting humanity,” he stated.

In her acceptance speech, the First Lady expressed heartfelt appreciation, describing Enugu as a peaceful and welcoming state where she felt “inner peace” upon arrival.

She dedicated the honour to her husband, President Bola Tinubu, and their entire family, saying, “This is a special honour that I will cherish forever. I love your state, it is calm and welcoming. As you have honoured me today, Enugu State will be remembered for good.”

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11/06/2025

NASS moves to make National Assembly Arcade official venue for presidential swearing-in, Proposes Annual June 12 Address

The National Assembly has unveiled plans to propose a bill mandating that future Presidents-elect be sworn in at the arcade of the National Assembly.

Senate Leader, Opeyemi Bamidele, made the disclosure on Tuesday in Abuja while addressing questions during the June 12 Democracy Day anniversary. According to Bamidele, the move is part of efforts to deepen Nigeria’s democratic traditions.

He also revealed plans for another bill that will require the President to deliver an annual ‘State of the Nation Address’ before a joint session of the Senate and House of Representatives on June 12 — a day set aside to honour Nigeria’s democratic journey.

Bamidele stated, “It is our desire to institutionalise the State of the Nation Address. We will bring a bill to ensure it is done annually. People should look forward to it.”

He added that President Bola Tinubu is in support of the initiative, noting that June 12 is the most symbolic date for such an address due to its historical significance.

“In the spirit of democracy, we are also hoping to amend our political setting so that, by the grace of God, the swearing-in of the next President will take place at the arcade of the National Assembly,” Bamidele added.

The National Assembly has invited President Tinubu to address a joint session on Thursday as part of the 2025 Democracy Day celebrations.

Democracy Day is marked every June 12 in memory of Late Chief MKO Abiola, the presumed winner of the annulled 1993 presidential election, widely regarded as Nigeria’s freest and fairest poll.

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11/06/2025

OPay Extends N1.2bn Scholarship to Benue State University Students

Nigeria’s top financial technology firm, OPay, has expanded its N1.2 billion 10-year scholarship scheme to students of Benue State University, making the institution the seventh beneficiary of the nationwide educational support initiative.

OPay said the move reflects its continued commitment to youth empowerment and academic excellence in tertiary institutions across Nigeria.

Speaking on the development, OPay’s Managing Director and CEO, Dauda Gotring, explained that the scholarship aims to ease financial burdens on students while supporting their personal and academic growth.

“We are proud to support future leaders at Benue State University as part of our broader commitment to education and empowerment. Education is key to nation-building, and this initiative helps young Nigerians unlock their full potential,” Gotring said.

The scholarship is targeted at bright but financially challenged students, covering tuition and other related costs to enable them focus fully on their studies.

Benue State University’s Vice Chancellor (Admin), Prof Tor Iorapuu, hailed the donation as a landmark achievement for the institution. “This generous support from OPay is a milestone. It provides a safety net for students and allows them to pursue their academic goals with confidence and stability,” he said.

OPay noted that the programme, which has already reached six other institutions this year, is part of its corporate social responsibility and a testament to its belief in education as a tool for social progress and sustainable development.

The company emphasized that beneficiaries of the scholarship reflect not only individual talent but also the aspirations of their families and communities, playing a vital role in shaping a brighter future for Nigeria’s youth.

OPay assured that the initiative will continue to spread across regions, with more universities expected to benefit in the coming years.

NEWS REVIEW recalls that OPay had earlier launched this N1.2 billion 10-year scholarship programme with students of the Federal University of Technology, Minna, Niger State, as part of the first beneficiaries.

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10/06/2025

Dangote Promises Major Shake-Up in Downstream Oil Sector

Lagos, Nigeria - Nigerians should brace for sweeping changes in the oil industry, as business mogul Aliko Dangote has pledged a “major shakedown” in the downstream sector. This revelation came during an interview with journalists following President Bola Tinubu’s visit to the $20 billion Dangote Petroleum Refinery in Lekki, Lagos.

While Dangote remained tight-lipped on the exact nature of the planned shake-up, he clarified it would not involve a reduction in fuel prices but rather a complete overhaul of the downstream operations.

“Now that the President has visited and given us additional energy, you’ll hear from us soon,” Dangote said. “This will be one of the major shakedowns in the entire country. It’s not about price reduction it’s a total overhaul of the downstream.”

The industrialist further hinted that the refinery is about to enter what he called a “massive trajectory,” signaling intensified operations and expansion.

“I told the President that he hasn’t seen anything yet. If you come back in five years, this refinery will be on the back burner,” he stated.

Dangote also revealed plans to list the refinery and his fertiliser company on the stock exchange within the year, starting with the fertiliser business.

He praised President Tinubu’s economic reforms, crediting them with creating a more supportive environment for industrial growth and long-term investment. He specifically lauded the “Nigeria First Policy,” aimed at boosting local content and reducing reliance on foreign imports.

“This policy aligns perfectly with our vision to produce what we consume and make Nigeria self-sufficient,” Dangote said.

In addition, he applauded the government’s efforts in improving national infrastructure, particularly through the Nigerian Road Infrastructure Development Fund and the Refurbishment Investment Tax Credit Scheme. He noted that under these schemes, eight major roads, including the Lekki-Epe corridor, had been awarded at a cumulative cost of ₦900 billion.

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10/06/2025

Lagos State now generates more electricity off-grid than Nigeria’s entire national grid, a new report by the Africa Finance Corporation (AFC) has revealed, highlighting a deepening energy crisis across the country.

The report, titled “State of Africa’s Infrastructure Report 2025” and obtained on Monday, estimates that Lagos’ off-grid capacity exceeds 19 gigawatts.

Lagos State now generates more electricity off-grid than Nigeria’s entire national grid, a new report by the Africa Finance Corporation (AFC) has revealed, hi

05/06/2025

The Nigerian Communications Commission (NCC) is set to implement an updated Telecom Identity Risk Management Policy (TIRMP), allowing mobile numbers that remain inactive for one year to be reassigned to new users.

The Nigerian Communications Commission (NCC) is set to implement an updated Telecom Identity Risk Management Policy (TIRMP), allowing mobile numbers that remain

05/06/2025

Eid-ul-Adha: NSCDC Deploys 28,000 Personnel Nationwide for Safe Holiday Season

The Nigeria Security and Civil Defence Corps (NSCDC) has deployed over 28,000 operatives across the country to ensure a peaceful and secure holiday period.

This directive was issued by the Commandant General of the Corps, Dr. Ahmed Audi, who ordered the mobilisation of personnel from various specialised units. These include the Intelligence Directorate, Special Female Squad, Commandant General’s Special Intelligence Squad, Mining Marshals, Quick Response Tactical Team, Counter Terrorism Unit, Operations Department, and the Special Weapon and Tactics Unit.

In a statement signed by NSCDC spokesperson Afolabi Babawale on Wednesday, Audi explained that the deployment is aimed at protecting critical national assets, infrastructure, and safeguarding lives and property nationwide.

He warned that criminal activities tend to increase during festive periods and emphasised the need for proactive measures to counter potential threats. Speaking at a strategic meeting with top management, state commandants, and heads of formations, Audi stressed the importance of community-based intelligence gathering.

“No single agency has a monopoly on tackling insecurity,” he said, highlighting the need for credible tip-offs from the public to support security operations.

The CG also directed all 36 state commandants and the FCT Command to strengthen collaboration with other security agencies and local communities. He noted that such partnerships are vital in addressing issues like insurgency, banditry, kidnapping, vandalism, illegal bunkering, and farmers/herders clashes.

“We also call on members of the public to support this course of action so that together we can attain the goal of effective security coverage across board,” Audi added.

He further urged private security firms to promptly share intelligence and strengthen information networks, especially in times of emergency.

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05/06/2025

The Economic and Financial Crimes Commission (EFCC) has declared two more suspects wanted in connection with the alleged N1 billion cryptocurrency fraud tied to Crypto Bridge Exchange (CBEX).

In an official notice posted on its X (formerly Twitter) account yesterday, the commission named the suspects as Folashade Odelana and Bamidele Ayodele Abiodun.

The Economic and Financial Crimes Commission (EFCC) has declared two more suspects wanted in connection with the alleged N1 billion cryptocurrency fraud tied to

05/06/2025

FG Grounds 60 Private Jets Owned By High-profile Individuals In Nigeria

In a sweeping enforcement action to recover unpaid import duties, the Federal Government has grounded approximately 60 private jets across major airports in the country. The operation, carried out through the Nigeria Customs Service (NCS), is part of efforts to compel jet owners, many of them influential individuals and corporate entities to settle billions of naira owed in customs duties.

NEWS REVIEW gathered that private jet hangars in Lagos and Abuja have been sealed, affecting aircraft owned by bank executives, multinational oil companies, and other high-profile individuals. The affected jets include luxurious models such as the Bombardier BD-700 Global 6000, BD-700 Global 6500, and BD-700 Global 7500.

According to top officials from both the aviation industry and the NCS, the grounding exercise began quietly on Monday, June 2, without prior public notice. It follows months of verification exercises and repeated deadlines issued to jet owners to regularize their import duty payments.

The Customs Service had previously initiated a verification exercise on October 14, 2024, targeting over 60 private jets suspected of duty default. However, enforcement was delayed after the NCS extended the deadline to November 14, 2024. After that deadline passed without further updates, NEWS REVIEW questioned the silence. At the time, Customs spokesperson Abdullahi Maiwada cited ongoing court cases as the reason for the delay.

Speaking to NEWS REVIEW on Wednesday, Maiwada confirmed that enforcement is now underway. “Yes, enforcement has started. The aircraft are grounded for the non-payment of customs duty. As soon as the owners come forward to regularize their payments and give what is due to Nigerians, they will get their aircraft back,” he said.

He added that the NCS had gone to great lengths to encourage voluntary compliance. “We issued a statement when we started the verification and even extended the period. Now that we are enforcing, everyone knows our reason. We must collect revenue for Nigerians,” he stated.

Despite the crackdown, some jet owners have reportedly begun reaching out to the Presidency in a bid to secure the release of their aircraft. NEWS REVIEW learned that one top Nigerian bank has committed to settling its outstanding duties by next Tuesday, while another is negotiating through intermediaries. An energy firm with three grounded jets is also said to be making payment plans.

A leaked internal Customs document, dated June 4, 2025, and signed by Deputy-Comptroller General C.K. Niagwan on behalf of the Comptroller-General, confirmed that some of the grounded jets may be “temporarily unsealed.” The document stated that the temporary release was to allow affected operators to present relevant documentation and negotiate terms for settling their dues. However, the circular clarified that this does not constitute a waiver of any statutory obligations.

Experts in the aviation industry have weighed in on the development, urging both the Nigeria Customs Service and aircraft owners to adopt globally recognized best practices.

Former Deputy Director of Engineering at the defunct Nigerian Airways, Frank Oruye, called for professionalism on both sides. “Operators must pay what is due, and Customs must act in accordance with global aviation standards. Investors and importers should be ready to pay local taxes and customs duties,” he said.

Recalling past frictions between Nigeria Airways and Customs, Oruye criticized what he described as outdated duty assessment methods. “We had issues in the past when components sent abroad for repairs were taxed as if they were new imports. This practice discourages investment,” he noted.

Retired Group Captain John Ojikutu also expressed concern, stating that many of the grounded jets were foreign-registered, a development he described as a security threat. He criticized both the Customs and the Nigeria Civil Aviation Authority (NCAA) for failing to properly regulate such aircraft.

“Who permitted these foreign aircraft to operate in Nigeria without proper clearance?” he asked. “When I was at the airport, I grounded Abiola’s aircraft for violating regulations. Foreign jets must not operate without clearance, it’s a national security risk.”

Ojikutu further urged the NCAA to review its regulatory oversight. “In the past, foreign aircraft were only allowed to land at customs-designated airports and could not fly to more than one location without special approval. That level of control must return.”

As the situation develops, the NCS maintains its stance that enforcement will continue until full compliance is achieved. For now, several jets remain grounded at the Murtala Muhammed International Airport in Lagos and the Nnamdi Azikiwe International Airport in Abuja.

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