The seizure of over $6.1 million in undeclared cash at the Murtala Muhammed Airport Terminal 2 (MM2) in Lagos is far more than an isolated security incident; it exposes critical vulnerabilities in Nigeria’s financial and physical security systems. The individuals, who claimed to be security operatives attempting to board a domestic flight, bring into sharp focus serious issues concerning corruption, illicit financial flows, and national security oversight. 1. Exposing Deep-Seated Corruption and Illicit Flows The most immediate implication is the apparent involvement of state security agents in potentially illicit financial activity. The massive amount of cash ($6.1 million is equivalent…
Author: Elvis Eromosele
The Lagos State Government has given traders at the popular Computer Village, Ikeja, an 18-month deadline to relocate to its new permanent site in Katangowa, Agbado/Oke-Odo LCDA. Gbolahan Oki, Permanent Secretary of the Ministry of Physical Planning and Urban Development, announced the deadline during a stakeholders’ engagement, stressing that the current location in Ikeja was originally designated as a residential area. Oki assured traders that the 15-hectare Katangowa site is fully equipped with the necessary infrastructure for a conducive business environment. Traders Express Skepticism and Demand Transparency Despite the government’s renewed commitment, market leaders and traders expressed deep skepticism and…
UEFA is targeting a jump in annual broadcast revenue to at least €5 billion from its current €4.4 billion, positioning the Champions League to become the most lucrative club competition in global football.1 This ambitious goal comes as streaming giant Netflix explores bidding for rights to broadcast one key match per round starting with the 2027-28 season. Netflix’s interest follows its successful foray into live sports, including the Mike Tyson vs. Jake Paul fight, which peaked at 65 million streams. Winning a portion of the Champions League rights would give the platform a massive weekly global event to drive engagement.…
In a major move to protect consumers, the Central Bank of Nigeria (CBN) has ordered banks and other financial institutions to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. The directive is part of the new “Draft Guidelines on the Operations of Automated Teller Machines in Nigeria,” which aims to modernize the payment system and address rising customer complaints over delayed refunds and poor service. New Refund Timelines The CBN has set strict timelines for financial institutions to process refunds: ‘On-Us’ Transactions (Using your own bank’s ATM): Failed transactions must be reversed instantly. If instant reversal…
With the return of Kogi Central senator, Natasha Akpoti-Uduaghan, to the National Assembly, Dr Obiageli Ezekwesili, former Minister of Education, has urged the Senate to stop all hostilities and silent punishments, restore her full rights and privileges as a senator, and respect the people’s mandate. Akpoti-Uduaghan was suspended for six months by the Senate leadership following altercations between her and the Senate President, Godswill Akpabio. In a post on her X page, Ezekwesili congratulated the Kogi senator on returning to the Senate to resume her duties to her people, who were “unconstitutionally long-deprived of representation.” She stated, “You have become…
Nestlé Nigeria is pleased to announce the call for entries for the 2025 Nestlé Media Awards, an annual initiative that celebrates journalistic excellence and impactful storytelling across Nigeria. Since its inception, the Nestlé Media Awards have celebrated journalists who use their platforms to highlight real issues that matter to Nigerians, from affordable nutrition and youth empowerment to sustainable livelihoods and community resilience. This year, Nestlé Nigeria introduces a new category, Business and Economy Reporting, which recognizes outstanding journalism that explores Nigeria’s business landscape including economic trends, entrepreneurship, policy challenges, and opportunities for growth. Unlike other categories, this is the only…
The Nigerian Communications Commission (NCC) has revealed that the country recorded over 19,000 incidents of fibre cut across the country from January to August. Dr. Aminu Maida, Executive Vice Chairman of NCC, made the disclosure in Abuja on Wednesday at a business Roundtable on improving investments in broadband connectivity and safeguarding critical national infrastructure. According to Maida, “Infrastructure attacks and vandalism continue to pose a challenge. Between January and August 2025 alone, Nigeria recorded 19,384 fibre cut incidents, 3,241 cases of equipment theft, and over 19,000 cases of denials of access to telecom sites. “Together, these disruptions have caused prolonged…
The Lagos State Chapter of the Nigerian Institute of Public Relations (NIPR) has officially unveiled the committees and award framework for the 10th edition of the Lagos Public Relations Industry Gala and Awards (LaPRIGA) 2025, during a well-attended press conference held at the State Secretariat, 19 Town Planning Way, Ilupeju, Lagos. In his keynote address, Dr. Samuel Ayetutu, fnipr, frpa, Chairman of the Lagos State Chapter, described LaPRIGA as the “gold standard” for recognising excellence in public relations and communication practice in Nigeria. He announced that this milestone 10th edition will be celebrated under the theme “Nox Excellentia” – The…
Lagos State has been selected by the Federal Government to pilot a new initiative aimed at drastically reducing maternal and neonatal mortality. The program, announced by Dr. Dayo Adeyanju of the Maternal and Neonatal Mortality Reduction Innovation Initiative (MAMII) at the Eko Health Convention 2025, is set to launch soon and includes several vital components for pregnant women: Emergency Transport Services for women in labour. Free Caesarean Sections at 21 designated obstetric centres. Provision of Mama Kits. The initiative will be integrated into Lagos State’s existing health strategy. Governor Babajide Sanwo-Olu reaffirmed his administration’s commitment to achieving universal health coverage,…
Nigeria’s electronic payment transactions have surged, reaching ₦384 trillion in value in July 2025, according to the Central Bank of Nigeria (CBN). This represents a significant increase from the ₦280 trillion recorded in August 2024, demonstrating the deepening adoption of digital financial services. Olayemi Cardoso, CBN Governor, speaking at the Nigeria Fintech Week 2025, highlighted the volume of transactions, which grew from 3.9 billion to 4.12 billion over the same period. Confidence and Security are Key: Cardoso attributed the sustained growth to the increasing public confidence in digital platforms and the success of the CBN’s payment system reforms. To maintain…