The United States has introduced a new visa bond requirement of up to $15,000 for Nigerians applying for B1/B2 (business and tourist) visas, as part of tighter immigration controls. According to details published on the U.S. Department of State website, Travel.State.Gov, the bond is a financial guarantee to ensure visa holders comply with the terms of their stay and leave the U.S. on time. The State Department stressed that paying the bond does not guarantee visa approval, and any payment made without a consular officer’s instruction will not be refunded. Nigeria is among 38 countries affected, with 24 of them…
Author: Elvis Eromosele
Some independent marketers partnering with the Dangote Petroleum Refinery may soon sell Premium Motor Spirit (PMS) below ₦739 per litre, as the refinery begins direct product delivery to affiliated stations. According to sources, Dangote Refinery has commenced virtual training for staff of partner retail outlets, a move expected to precede the rollout of free direct delivery of petrol to those stations. Marketers in the partnership include MRS, Ardova Petroleum (AP), Garima, Heyden, and Optimal. Aside from MRS, most had yet to sell petrol at Dangote’s recommended rate because they were still awaiting direct supply from the refinery. Alhaji Abubakar Maigandi,…
Nigeria can generate up to $10 billion annually from the cashew industry if the right policies, investments and value-addition strategies are put in place, the National Cashew Association of Nigeria (NCAN) has said. Speaking at a press briefing in Abuja ahead of Nigeria Cashew Day 2026, Dr. Ojo Joseph Ajanaku, NCAN President, said the country has the land, labour and market access to become a global cashew powerhouse, but remains constrained by weak policies, poor data and limited processing capacity. He explained that Nigeria Cashew Day, launched in Benin (2023) and later held in Enugu (2024) and Lagos (2025), will…
A Federal High Court in Abuja has ordered the interim forfeiture of 57 properties valued at ₦213.2 billion allegedly linked to former Attorney-General of the Federation, Abubakar Malami (SAN), and two of his sons. The order was granted on January 6, 2026, by Justice Emeka Nwite following an ex parte application filed by the Economic and Financial Crimes Commission (EFCC), which said the assets are reasonably suspected to be proceeds of unlawful activities. According to the EFCC, the properties, spread across Abuja, Kebbi, Kano and Kaduna states, include luxury homes, hotels, schools, commercial buildings, filling stations and large parcels of…
Peter Obi, former Labour Party presidential candidate, has strongly criticised the Federal Government over the approval of a nearly ₦8 trillion debt write-off in favour of the Nigerian National Petroleum Company Limited (NNPC Ltd), describing the move as a troubling sign of fiscal recklessness. In a post on X (formerly Twitter) on Wednesday, Obi faulted President Bola Tinubu’s decision to cancel a substantial portion of debts owed by NNPC Ltd to the Federation Account, despite unresolved audit concerns and worsening economic hardship across the country. Last month, President Tinubu approved the write-off of about $1.42 billion and ₦5.57 trillion, amounting…
Kenneth Erikume, a Partner at PwC Nigeria, has urged Nigerian businesses to urgently automate their tax compliance processes to avoid costly penalties under the country’s newly implemented tax regime. Erikume gave the warning at FirstBank’s Nigeria Economic Outlook 2026, noting that Nigeria’s tax reforms, which took effect on January 1, 2026, impose stiff sanctions for compliance errors that should no longer be handled manually. According to Erikume, the new tax laws leave little room for mistakes, making automation essential. “Automate the processes that carry huge penalties under the new laws. Getting it right the first time is critical, and these…
At least 521 digital lending companies are now under the regulatory oversight of the Federal Competition and Consumer Protection Commission (FCCPC), following the expiration of the January 5, 2026, deadline for compliance with Nigeria’s new digital lending rules. The deadline marked the end of the grace period for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, which require all digital lenders—whether app-based, online, or operating through other non-traditional channels—to register with the FCCPC and adhere to stricter consumer protection standards. FCCPC records indicate that of the 521 registered digital lenders, 457 have received full approval,…
Nigeria’s electricity regulator has raised fresh alarm over persistent metering gaps in the power sector, even as Electricity Distribution Companies (DisCos) improved revenue collections in the second half of 2025. The Nigerian Electricity Regulatory Commission (NERC) disclosed that DisCos collected ₦1.13 trillion in the second and third quarters of 2025, reflecting a 4.63 percentage-point improvement in collection efficiency quarter-on-quarter. Despite the gains, NERC said the sector continues to face serious liquidity pressures, recording a combined revenue shortfall of ₦314.35 billion over the two quarters. According to NERC’s Q3 2025 report, DisCos recovered ₦570.25 billion out of ₦706.61 billion billed in…
The Lagos State Government is desperately resorting to media PR and damage control following public outrage as a result of the ongoing onslaught on the Makoko community. The initial agreement held by the Lagos State Ministry of Urban Development and the community was to pull down housing structures within 30 30-metre corridor from the power lines. When the chiefs ran to Alausa yesterday to report that the demolition squad was razing down houses beyond their agreement, the ministry’s reps said they would go ahead with 50 metres. They agreed and returned. Lagos State officials have gone to town with the…
Flutterwave, Africa’s leading payments technology company, has acquired Mono, a pioneer in open banking infrastructure, in a deal that strengthens its push toward bank-based and alternative payment methods across the continent. The acquisition reinforces Flutterwave’s long-term strategy of building a connected and interoperable financial ecosystem for Africa, with open banking positioned as a core pillar of its payments infrastructure. Mono provides API-driven access to financial data, identity verification, and account-to-account payments—capabilities that are becoming increasingly vital as African markets shift toward secure, data-led financial services. Under the terms of the deal, Mono will continue to operate independently, with no…