President Bola Ahmed Tinubu has approved the establishment of a new campus of the Nigeria Police Academy in Erinja, located in Yewa South Local Government Area of Ogun State, alongside a ₦15 billion take-off grant to drive the project. According to a statement by Bayo Onanuga, his Special Adviser on Information and Strategy, the move is in line with the Nigeria Police Academy (Establishment) Act, 2021, which provides for the expansion of the institution beyond its current base in Wudil, Kano State. The funding for the new campus will be sourced from the 2026 allocation of the Tertiary Education Trust…
Author: Elvis Eromosele
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) that both organisations said would safeguard consumers against fraud while opening opportunities for them to leverage the potentials of the telecommunications and financial sectors. The MoU was signed as NCC and CBN inaugurated a Joint Committee on Payment Systems and Consumer Protection and a Joint Committee on Telecoms Identity Risk Management System (TIRMS) Portal. Dr Aminu Maida, Executive Vice Chairman and Chief Executive Officer of NCC, said the MoU provides a structured framework for cooperation in critical areas including payment system…
Dario Amodei, CEO of Anthropic, has warned that rapid advances in artificial intelligence could displace a large share of entry-level white-collar jobs within the next one to five years. Speaking in an interview with Fox News, Amodei said AI capabilities are evolving faster than many businesses and policymakers realise, with systems now able to perform tasks traditionally assigned to junior staff. These include summarising documents, generating ideas, and preparing financial reports—functions that form the backbone of early-career roles in sectors such as finance, consulting, and technology. His comments echo growing concerns from global institutions like the International Monetary Fund and…
At a defining moment for Nigeria’s creative economy, industry leaders, filmmakers, innovators, and policymakers converged at the Nollywood Economic Outlook (NEO) 7.0, held at the Sheba Event Center, Maryland, Lagos. With the theme “The Next Frontier,” the event offered a deeply reflective and forward-looking examination of Nollywood’s evolution, highlighting the urgent need for data-driven decision-making, technological adoption, and structural reforms to unlock the industry’s full economic potential. Delivering a comprehensive industry overview, Patrick Lee set the tone with a sweeping analysis of Nigeria’s cinema landscape. A central figure in the growth of the country’s exhibition sector, Lee pointed to the…
Nigeria’s Federal Government raised ₦100 billion in 2025 by drawing on the Unclaimed Funds Trust Fund (UFTF), marking a notable shift in how idle private funds are integrated into public financing. Data from the Debt Management Office (DMO) shows that the instrument, listed as “UFTF FGN Security,” stood at ₦100 billion as of December 31, 2025, accounting for about 0.12 per cent of the country’s total domestic debt. While relatively small in size, the move is significant because it reflects the formal conversion of unclaimed private funds into part of the government’s borrowing framework. Nigeria’s domestic debt stock remains heavily…
In a bold step to deepen consumer voice and accountability across both private and public sectors, BrandXchange the organisers of the Consumers Value Awards have announced the official launch of the 5th edition with a groundbreaking theme: “Beyond Satisfaction: Redefining Consumer Value in a New Economy.” Scheduled to hold on 23rd September 2026, this year’s edition introduces a Consumer & Citizen Value Scorecard, a nationwide voting platform that places the power of evaluation directly in the hands of consumers. Speaking on the theme, Akonte Ekine, the Convener, noted that the concept of consumer satisfaction is no longer sufficient in today’s…
Kola Adesina, Group Managing Director of Sahara Power Group, has been appointed to the Mission 300 Private Sector Council, a high-level initiative backed by the World Bank Group, African Development Bank, and The Rockefeller Foundation to expand electricity access to 300 million Africans by 2030. The council, comprising just 14 senior leaders from across energy, finance, infrastructure, and technology, is tasked with mobilising private capital and accelerating investments needed to close Africa’s electricity gap. Adesina’s appointment follows the earlier selection of Sahara Power Group, part of Sahara Group, for participation in the initiative. In his new role, he will work…
Ecobank delivered a strong financial performance in 2025, crossing the N1 trillion profit mark as rising treasury income increasingly complements its traditional lending business. Gross earnings rose by 16 per cent year-on-year to N4.88 trillion, while profit after tax climbed 23 per cent to N904.7 billion, driven by improved margins and diversified income streams. A key driver of the performance was a strategic shift in asset allocation. With customer deposits growing faster than loans, up about 15 per cent to N36.4 trillion compared to 10 per cent loan growth, the bank deployed excess liquidity into high-yield government securities. Income from…
Shareholders of CWG Plc have approved a final dividend of 70 kobo per share for the 2025 financial year, marking a 79 per cent increase from the 39 kobo paid in 2024. The approval was granted at the company’s 21st Annual General Meeting in Lagos, where investors welcomed the strong financial performance and endorsed management’s long-term growth strategy. Phillip Obioha, Chairman, said the higher payout reflects both improved earnings and confidence in the company’s future trajectory. “This recommendation underscores our commitment to delivering consistent and growing returns to shareholders, backed by a sustainable earnings outlook,” he said. CWG reported a…
Thibaut Boidin, Chief Executive Officer of Nigerian Breweries Plc, has warned that the Federal Government’s proposed tax stamp policy could wipe out profits across Nigeria’s brewing industry and destabilise the sector. Speaking at the company’s 80th pre-Annual General Meeting (AGM) media briefing in Lagos, Boidin said the measure could lead to a 100 per cent erosion of industry profits if implemented. He stressed that while government efforts to boost revenue are understandable, policy consistency and fiscal stability are critical for manufacturers operating in an already challenging environment. A tax stamp is a regulatory system that requires excisable goods such as…