Tag: naija entertainment

EFCC Intensifies Anti-Money Laundering Efforts in Real Estate

Editor

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

Editor

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

Editor

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

Editor

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…

Afreximbank leads $4 Billion Refinancing Deal for Dangote Refinery

Editor

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

Editor

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…

Titanic sub disaster caused by operator failures — Report

Editor

A final study released Tuesday details how a private submersible visiting the Titanic site in 2023 died because to several disregards for fundamental safety procedures. The high-profile accident that claimed the lives of all five passengers was caused by a long list of problems with OceanGate’s operations and design defects in its Titan submersible, according to the US Coast Guard inquiry. “The primary causal factor” for the implosion, according to the study, was OceanGate’s disregard for established engineering processes for the safety, testing, and maintenance of their submersible. Additionally, it…

Court remands suspected Lagos assassin, Olori Esho

Editor

On Tuesday, an Ikeja Magistrate Court in Ogba, Lagos State, remanded 44-year-old Wasiu Akinwande, popularly known as Olori Esho, in the Kirikiri Correctional Center on charges of serial murder. His remand for the first 30 days was issued by Magistrate Mobolaji Tanimola, pending legal advice from the Directorate of Public Prosecution office. Esho was charged with eleven counts that included conspiracy, murder, attempted murder, illicit firearm possession, membership in an illegal society, possession of a poisoned dagger, threats to life, severe bodily harm, and possession of other weapons. The Nigeria…

US Targets Absent Students with Visa Revocation

Editor

International students have received a warning from the US about the repercussions of breaking student visa laws. The US Mission in Nigeria emphasized that students who discontinue their studies, skip classes, or abandon their academic programs without informing their schools run the possibility of having their US student visas revoked in a message posted on Monday via its official X Twitter. It said that such behavior can potentially result in exclusion from future US visas. To prevent any immigration problems, the mission recommended all holders of student visas to maintain…

Lagos urges calm as heavy rainfall persists

Editor

As severe rainstorms continue to batter areas of the state, the Lagos State Government has issued a call for calm and warned that further downpours are likely in the days ahead. Tokunbo Wahab, the Commissioner for the Environment and Water Resources, confirmed in a statement posted on X (formerly Twitter) on Monday that the state had seen heavy rainfall over the last 12 hours. He also mentioned that a new advisory from the Nigerian Meteorological Agency had forecast thunderstorms and rain over the next three days. According to NiMET’s most…