Month: August 2025

Ibadan markets shut as Olubadan Olakulehin is buried

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Due to the burial of Oba Owolabi Olakulehin, the late Olubadan of Ibadanland, all markets were forced to close on Friday morning. Two days after turning 90, on July 7, 2025, Oba Olakulehin, the 43rd Olubadan, passed away. Today, August 8, he will be laid to rest at the St. Peter’s Cathedral in Aremo, Ibadan. In a statement released on Thursday, Oyo State Babaloja General Alhaji Yekeen Abass ordered that all markets be closed on Friday from 5 a.m. to 12 p.m. in remembrance of the deceased king. Abass stated…

Glitched grades: WAEC in crisis over result errors

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Exam Malpractice: WAEC Blacklists 13 Schools In Kogi

For the 2025 West African Senior School Certificate Examination for School Candidates, the West African Examinations Council (WAEC)  blocked candidates’ access to its results portal due to technical issues, which sparked uproar. Following a post-release assessment of the 2025 WASSCE results, the Council discovered problems in its result system, which resulted in the denial of access, according to a statement released by Moyosola Adesina, Head of Public Affairs, WAEC National Office. The Council advised candidates who had previously viewed their results to check again starting on Friday for the most…

Nigeria, US advance high-level talks over visa restrictions

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Despite diplomatic requests from the Federal Government, the Ministry of Foreign Affairs has announced that the United States has not yet lifted the recent visa restrictions placed on specific Nigerian nationals. “Engages are ongoing but the policy is yet to be reversed so far,” ministry spokesperson Kimiebi Ebienfa told stated  on Wednesday. Given that the United States has not formally responded to Nigeria’s request for a review, the development implies that the visa restrictions might stay in effect. Certain non-immigrant visas, such as those falling under the B1/B2 (business and…

EFCC Intensifies Anti-Money Laundering Efforts in Real Estate

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Due to insufficient client vetting, the Economic and Financial Crimes Commission has expressed concern about the pervasiveness of money laundering in Nigeria’s real estate industry, pointing to estate developers as major enablers. The EFCC chairman, Ola Olukoyede, ordered real estate developers to do background checks on real estate investors in order to verify the authenticity of their revenue streams, according to a news statement posted on the agency’s social media accounts on Wednesday. At a gathering in Abuja on Wednesday, Olukoyede issued the warning in a speech headlined “Tackling Illegal…

Foreign investors sell off N576bn Nigerian stocks in six months

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Between January and June 2025, foreign investors sold out N576.09 billion worth of stocks on the Nigerian Exchange, an increase of 84.97% over the N311.41 billion that was taken out during the same time period in 2024. Over the course of the six months, the net negative foreign portfolio position was N16.84 billion since the outflows were more than the foreign inflows, which totaled N559.25 billion. Foreign trading activity has increased in comparison to the same period last year, according to data from the NGX’s June 2025 Domestic and Foreign…

Edo State banning NURTW, RTEAN, and ANNEWAT

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With immediate effect, the Edo State government on Wednesday outlawed the operations of Drivers on Wheels, ANNEWAT, the Road Transport Employers Association of Nigeria, and the National Union of Road Transport Workers. The unions are not permitted to collect any kind of dues, levies, taxes, or charges from drivers, dealers, or any other member of the public in the state, according to a statement made by Umar Ikhilor, the secretary to the state administration. The Edo State Government, led by Senator Monday Okpebholo, has noted with great concern the startling…

First HoldCo Plc set to dispose shares after Otudeko’s exit

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Plans have been revealed by First HoldCo Plc to sell a 25% stake in the business that was recently transferred to RC Investment Management Ltd., a special purpose organization. During a recent investor conference call in Lagos, Wale Oyedeji, the managing director of First HoldCo, revealed the development, according to Bloomberg. “Those shares will be disposed of, and we have a variety of options,” Oyedeji stated. Without providing a timeframe, he continued, “In the end, you will see that those shares will be disposed of in the market.” About 10.43…

Nationwide alert: FG warns of five-day flooding in 19 states

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Over a five-day period, the Federal Government has predicted severe rains that might cause flooding in 76 areas and 19 states. The Federal Ministry of Environment’s National Flood Early Warning Systems Centre issued the warning on Tuesday, urging citizens and stakeholders to take immediate preventative action. This occurs as disastrous flooding hit Ogun and Gombe states on Tuesday. The tragedy also devastated Lagos, Plateau, Anambra, and Delta states. Our correspondent was able to receive the center’s flood prediction, which states that between August 5 to August 9, 2025, rainfall is…

Afreximbank leads $4 Billion Refinancing Deal for Dangote Refinery

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Dangote Industries Limited is the beneficiary of a $1.35 billion credit arrangement inked with Afreximbank. The credit is a component of a broader $4 billion syndicated financing agreement for Dangote Industries Limited, in which Afreximbank served as the Mandated Lead Arranger, according to a statement from the continental bank. This financing will refinance capital spent on building the Dangote Petroleum Refinery and Petrochemicals Complex, the largest single-train refinery in the world with a capacity of 650,000 barrels per day. It is one of the largest syndicated loans in recent African…

Morayo Brown Steps Down as ‘Your View’ Host on TVC

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After 12 years at TVC Communications, Morayo Afolabi-Brown, the longtime anchor of Your View and managing director of TVC Entertainment, has formally left. Her final day of employment will be Thursday, August 29, 2025, according to a statement released on Monday by Edward Akintara, TVC Manager, PR, Corporate Communications & Marketing, confirming her resignation. According to the network, Morayo decided to resign in order to focus on a long-standing passion project that she had been nurturing for a long time. The statement said, in part, “We honor her for the…