Category: Nigeria News

PWAN not licensed to operate in Nigeria, SEC warns investors

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The Securities and Exchange Commission has issued a stern warning to the public regarding the operations of Property World Africa Network, also known as PWAN MAX, which has been soliciting funds from unsuspecting investors under the guise of a real estate investment company. The SEC has clarified that PWAN/PWAN MAX is not registered with the Commission to operate in any capacity within Nigeria’s capital market, raising serious concerns about the legitimacy of its activities. In a public notice released on Tuesday via its official Twitter handle, the SEC revealed that…

NELFUND under fire over loans to ex-students

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Some graduates from public tertiary institutions have raised concerns over the delayed disbursement of student loans, revealing that funds were sent to their schools months after they had already graduated. They also continue to receive N20,000 monthly upkeep stipends despite no longer being students. In separate interviews , the affected individuals explained that while they had applied for the Nigeria Education Loan Fund  before graduating, disbursements were delayed, forcing them to seek alternative means to pay their fees. To their surprise, the loans were eventually paid to their institutions long…

Only 1.16% of underage UTME candidates show exceptional ability — JAMB

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Out of the 40,247 underage candidates who sat for the 2025 Unified Tertiary Matriculation Examination (UTME), only 467 — which is 1.16 per cent —scored high enough to be classified under the exceptional ability category, the Joint Admissions and Matriculation Board has revealed. This from a total of 1,955,069 processed results for the year. In a post made on X (formerly Twitter) via its official handle @JAMBHQ, the examination body on Monday, disclosed that although the underage candidates were permitted to showcase their academic prowess, “their performance in the subsequent…

Three Africans, 13 other cardinals emerge as potential successors to Pope Francis

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With no official campaigning or list of candidates and the election process shrouded in secrecy, speculation about who will succeed Pope Francis after the conclave beginning this week remains just that — speculation. But here are 16 cardinals who are among the potential favourites to succeed Pope Francis — so-called “papabili” — divided by region. AFRICA Peter Turkson (Ghana), 76, Archbishop emeritus of Cape Coast One of the Church’s most influential cardinals from Africa, Turkson has for years been mentioned as a possible first black pope. Made a cardinal by…

‘Cabals’ still fighting against our refinery — Dangote

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The President of Dangote Group, Alhaji Aliko Dangote, says he is still fighting for the survival of his $20bn refinery, stressing that the fight is not yet finished. Dangote expressed optimism that he would win the fight for the refinery, stating his determination to fight on. According to Semafor, an international news medium, Africa’s richest man spoke at an investor forum in Lagos on Friday. The report stated that Dangote pointed out that some individuals who “for a very, very long time” have “made a lot of money from” government-subsidised…

Power crisis: FG turns to banks for $23bn lifeline

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In a bid to end age-long power woes, the Federal Government is in talks with commercial banks and other investors to fund its ambitious universal electricity access, which requires a whopping $23.2bn investment. It was reported  that Nigeria will require $23.2bn of aggregate investment to achieve the planned universal electricity access in five to 10 years, reaching 120 million people across 22 million households. It was gathered that $14.1bn of the cost is an upfront investment to which multiple stakeholders must contribute. The $14.1bn initial investment is 60 per cent…

Interest boom: Nine local banks generate N14tn from loans

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Nine Nigerian banks raked in a combined interest income of N14.26tn in 2024, an analysis of the audited financial results of the financial institutions shows. As the banks made trillions of naira from the interest on loans given to customers during the review period, manufacturers counted their losses, groaning under the weight of soaring borrowing costs totalling N1.3tn for the same period. An analysis of the audited financial results of First Holdco, Guaranty Trust Holding Company, Zenith Bank Plc, United Bank for Africa, FCMB Group, Fidelity Bank, Stanbic IBTC Holdings,…

NYSC releases postings for prospective corps members, warns against night travel

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The National Youth Service Corps (NYSC) has released Stream I postings for the 2025 Batch A prospective corps members. This is just as it noted that the signing and printing of the addendum is vital for camp entry. According to a series of posts on its X handle on Monday, the NYSC said the document is crucial for registration and to avoid potential service disruptions, as some camps may require it for verification. It stressed that the addendum is typically accessible on the NYSC dashboard after successful online registration. Meanwhile,…

Boko Haram now on TikTok, operates unmanned drones – Security expert

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A security analyst and senior fellow of the Extremism Policy Unit at Tony Blair Institute for Global Change, Bulama Bukarti, on Sunday, warned that the activities of the dreaded terrorist group, Boko Haram, have started gaining ground on major social media platforms like TikTok. Bukarti spoke when he was featured as a guest on Channels Television’s Politics Today. The revelation comes barely one week after the senator for Borno South District, Ali Ndume, lamented that Borno State lost 100 soldiers and 280 civilians to the onslaught carried out by Boko Haram…

Tinubu is North’s asset, not liability, Matawalle counters critics

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The Minister of State for Defence, Dr. Bello Matawalle, has dismissed claims suggesting that President Bola Tinubu is a political liability to Northern Nigeria, describing such narratives as baseless and politically motivated. In a statement issued on Friday and signed by his Special Assistant on Political Affairs, Ibrahim Goga, the former Zamfara State Governor declared President Tinubu as “an asset to the North and the nation,” citing the administration’s strides in security, infrastructure, and national unity. “President Tinubu has demonstrated an uncommon commitment to addressing the challenges facing our region.…