The House of Representatives ad hoc committee investigating the controversial Presidential Foreign Investment Promotion Council (PFIPC) has uncovered 12 organisations and 58 bank accounts allegedly linked to Adeniyi Adeyemi, who presented himself as the council’s Director-General. The committee disclosed this in its preliminary report released on Wednesday, September 2, 2026. The investigation was launched following controversy over the inclusion of the purported council in the 2026 Appropriation Act. According to the committee, its findings were based on oral testimonies, documentary evidence, financial records and submissions from various government institutions. The lawmakers said their investigation established that the PFIPC was not…
Author: Abdoulaye Kay
Credit extended to Nigeria’s private sector rose to N83.43 trillion in July 2026, reflecting increased borrowing by businesses and other private-sector operators despite the Central Bank of Nigeria’s (CBN) tight monetary policy stance. Latest CBN monetary statistics showed that private-sector borrowing increased by N2.84 trillion, or 3.52 per cent, from N80.59 trillion in April to N83.43 trillion in July. On a year-on-year basis, private-sector credit grew by N6.70 trillion, or 8.74 per cent, from N76.72 trillion recorded in July 2025. The data showed a steady increase in lending during the period, with credit rising from N80.59 trillion in April to…
OPay Digital Services Limited has asked Nigeria’s security agencies to investigate the source and circulation of a viral publication claiming that the fintech company would suspend its operations indefinitely from September 1, 2026. The company’s move followed the widespread circulation of a purported notice advising customers to withdraw or transfer their funds ahead of the alleged shutdown. OPay has repeatedly dismissed the publication as false, malicious and misleading, assuring customers that its operations remain normal and that there is no plan to suspend its services. ALSO READ OPay dismisses September shutdown rumour, warns customers against fake notice The fintech company…
Residents of communities in Borgu Local Government Area of Niger State are reportedly abandoning their homes and crossing into the neighbouring Republic of Benin as persistent attacks by armed groups continue to heighten fears across the area. The African Democratic Congress (ADC) candidate for the Borgu/Agwara Federal Constituency in the House of Representatives, Murtala Haliru Dantoro, disclosed the development at a press conference, while calling for urgent and sustained security intervention in the affected communities. According to Dantoro, residents were increasingly living under siege as killings, kidnappings and displacement, coupled with restrictions on movement and farming, continue to disrupt life…
Rights advocates have warned of growing efforts to roll back women’s and girls’ rights, saying appeals to “family values”, culture, religion and national sovereignty are increasingly being deployed to resist gender-equality reforms. The warning came during a SHE & Rights session held ahead of the 81st United Nations General Assembly, where speakers examined gender equality, health rights and human rights accountability. The advocates said Africa had established a strong regional human rights framework, including the legally binding Maputo Protocol and the African Charter on Human and Peoples’ Rights, but cautioned that weak implementation, limited accountability and inadequate community engagement could…
Kogi State Governor, Ahmed Usman Ododo, has met with Mohammed Audu, son of the late former governor of the state, Prince Abubakar Audu, as part of efforts to promote development and strengthen political unity in the state. The meeting, which took place on Sunday, focused on ways to strengthen Kogi’s economy, improve agricultural production, enhance the cashew value chain and improve the welfare of residents. The state Commissioner for Information and Communications, Kingsley Femi Fanwo, disclosed this in a statement on Monday. Fanwo said the governor and Mohammed Audu discussed practical measures to expand economic opportunities for farmers and enable…
The Federal Government has appointed Dr. Olugbenga A. Awe as the new Pro-Chancellor and Chairman of the Governing Council of the Federal University of Technology, Akure (FUTA). The letter conveying his appointment, dated July 30, 2026, and signed by the Minister of Education, Dr. Tunji Alausa, reads: “I write to convey approval for your appointment as Pro-Chancellor and Chairman, Governing Council, Federal University of Technology, Akure, Ondo State. Your appointment takes effect from July 29, 2026.” Dr. Olugbenga A. Awe replaces H.E. Senator Nora Ladi Daduut, who has been appointed as the country’s ambassador to South Korea. Dr. Olugbenga A.…
The Central Bank of Nigeria (CBN), acting on behalf of the Debt Management Office (DMO), is set to offer N700 billion worth of Nigerian Treasury Bills (NTBs) at its first auction for September 2026. The auction, scheduled for Thursday, September 3, will cover three maturities — 91-day, 182-day and 364-day Treasury Bills, according to an Invitation to Tender issued to money market dealers. The offer comprises N100 billion for the 91-day tenor, N100 billion for the 182-day bill and N500 billion for the 364-day instrument, underscoring the authorities’ continued emphasis on longer-dated securities. Money Market Dealers are required to submit…
The Dangote Petroleum Refinery and Petrochemicals is considering restricting sales of Premium Motor Spirit (PMS) to major marketers that continue to import petrol into Nigeria, amid concerns over product quality, market transparency and the integrity of products supplied under the Dangote brand. The proposed measure, which could take effect as early as this week, subject to further consultations and any last-minute intervention, reflects growing concerns over the continued entry of imported PMS into a market where substantial domestic refining capacity is now available. Sources familiar with the refinery’s position said the immediate concern relates to the fact that some marketers…
The Allied Peoples Movement (APM) has called on United States authorities to release the findings of a Federal Bureau of Investigation (FBI) report reportedly containing records linked to allegations of drug trafficking involving President Bola Ahmed Tinubu. The opposition party said the reported attempt by the Presidency to prevent the release of the records could deepen public suspicion and fuel further questions about the matter. The APM made its position known in a statement issued on Sunday by its National Publicity Secretary, Yusuf Abubakar. The party argued that the entire report did not necessarily have to be made public if…