Tag: Nollywood

UNDP, REA partner on clean energy transition

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In order to accelerate Nigeria’s transition to clean energy, foster innovation, and prepare a new generation of experts for a future-ready energy sector, the Rural Electrification Agency and the United Nations Development Programme have inked an agreement. The development was revealed in a statement released by the electrification agency on Friday. Energizing education and innovation, expanding skills development, supporting state-level policy reforms, unlocking innovative finance, and boosting research and public engagement are the five main pillars upon which the relationship will be built. It was formally announced at a signing…

Meet recapitalisation target or face liquidation, NAICOM warns insurers

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Insurance firms that miss the July 2026 recapitalization deadline risk severe regulatory action, including merger or liquidation, the National Insurance Commission  NAICOM  has warned. The commission would not think twice about taking action against non-compliant companies, according to a circular sent to all insurance and reinsurance companies in Nigeria by Deputy Commissioner (Technical), Dr. Usman Jankara. According to the recently enacted Nigerian Insurance Industry Reform Act 2025, insurance companies must raise their capital to N10 billion for life insurance, N15 billion for non-life insurance, and N35 billion for reinsurance. The…

FIRS names 16 tech firms for e-invoicing onboarding

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FIRS Begins Fresh Recruitment Exercise - [See How To Apply]

16 tech businesses have been announced by the Federal Inland Revenue Service as service partners to help taxpayers join its e-invoicing platform. At a two-day workshop in Lagos on Thursday, the tech companies—certified by the National Information Technology Development Agency as access point providers and system integrators—were introduced to assist taxpayers with the onboarding, system integration, and invoice transmission processes. The National E-Invoicing Solution (Merchant-Buyer Model), as defined by the FIRS, is a computerized record of transactions between buyers and suppliers that essentially replaces conventional paper or electronic documents like…

Budget 2025: Fund Requests Suspended by Accountant-General, Leaving Ministries in a Dilemma

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The Federal Government may extend the 2025 budget into 2026, as slow capital project implementation, procurement delays, and a shutdown of the cash-planning portal have left many projects stalled about eight months into the fiscal year. The possibility of a rollover came to light at a stakeholders’ engagement in Abuja on Wednesday, organised by the Office of the Accountant-General of the Federation to review progress and challenges in implementing the extended 2024 capital budget and the 2025 capital budget under the Bottom-Up Cash Planning Policy. Before any contract is signed,…

Pilots split over KWAM 1’s aviation ambassadorship

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The Federal Government’s decision to lower the flying restriction placed on Fuji music singer Wasiu Ayinde Marshall, commonly known as KWAM 1, and drop criminal charges against Comfort Emmanson, an Ibom Air passenger, has caused uproar in the aviation sector. Given the seriousness of the musician’s violation, several industry participants and pilots praised the government’s decision, while others characterized it as hurried and incorrect. Festus Keyamo, the Minister of Aviation and Aerospace Development, declared on Wednesday that the Federal Government has lowered the six-month flight ban imposed on KWAM 1…

Fuel consumption dropped to 1.44bn litres in June 2025 — NMDPRA

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According to the Nigerian Midstream and Downstream Petroleum Regulatory Authority, total fuel evacuation for June 2025 dropped to 1.44 billion liters, marking a notable decrease in fuel usage. In a study released on Wednesday, NMDPRA‘s Director of Public Affairs, George Ene-Ita, verified that the average daily fuel consumption was 48 million liters, refuting previous estimates that claimed a lower amount of 38.94 million liters. The News Agency of Nigerian on Wednesday quoted Ene-Ita, as saying, that “the total fuel evacuation for June was precisely 1,440,768,129 litres, representing a 16.42 per…

Lagos Pastor Arrested for Cross-Border Drug Trafficking

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The National Drug Law Enforcement Agency has arrested the founder and General Overseer of The Turn of Mercy Church, Adefolusho Olasele, also known as Abbas Ajakaiye, over his suspected complicity in repeated shipments of illicit substances from Ghana to Nigeria. After months of evasion, Olasele was finally caught on Sunday, August 3, 2025, at his church in Okun Ajah, Lekki, Lagos. Femi Babafemi, the agency’s spokesperson, said in a statement on Sunday that officers arrested him as he left the building after waiting until the conclusion of the Sunday service.…

Premier League ends partnership with LGBTQ+ Charity Stonewal

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The long-running Rainbow Laces campaign has come to an end after the Premier League formally terminated its collaboration with LGBTQ+ charity Stonewall. The action marks a change in the league’s attitude to inclusivity as it gets ready to introduce its LGBTQ+ History Month program in February. Rainbow Laces was first developed by Stonewall in 2013 with the goal of promoting LGBTQ+ inclusiveness in football. The Premier League launched it in 2017. In a clear demonstration of solidarity for the gay, homosexual, bisexual, and transgender populations in the sport, players in…

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…

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…