All Posts in "Month: July 2026"

2027: ‘NDC new direction for Nigeria’ – OK Movement

The OK Movement has said that the Nigeria Democratic Congress, NDC, remains committed to delivering a new direction for Nigeria.

The Movement said this on Tuesday in a post on its verified X handle.

This came after the the meeting between the Vice-presidential candidate and the national leader of the party on Tuesday.

“With both our presidential and vice-presidential candidates duly uploaded, the NDC remains united, focused, and fully committed to delivering a new direction for Nigeria.

“The National Leader of the NDC, Seriake Dickson, today held a strategic meeting with our Vice Presidential Candidate, Rabiu Musa Kwankwaso.

“We are pleased to announce that Kwankwaso has been successfully uploaded to the INEC portal as the duly nominated Vice Presidential Candidate of the NDC for the 2027 Presidential Election.

“Nigeria Will Be OK,” the Movement wrote.

admin by — July 1, 2026 in News 0
NYSC reforms: National service should not be compulsory – Sam Amadi

Director of the Abuja School of Social Thought and Politics, Sam Amadi, says the one year service of members of the National Youths Service Corps, NYSC, should not be compulsory.

Amadi made the suggestion on Tuesday when he featured in an interview on News Central Television.

He was speaking on the recent NYSC reforms proposed by president Bola Tinubu.

“National service should not be compulsory. The NYSC has become a cheap labour for private sector. So, the argument here is that the proposed National Youth Service Corps reforms should go beyond structural changes.

“There should be a redesign of the scheme to prioritise literacy, skills development and innovation as part of Nigeria’s broader development agenda.

“You should make it a status that the corps members have a lot of advantages and it’s competitive.

“So, my worry is that this reform still keeps it like a kind of a loose platform that does not address any seriously thought out development agenda,” he said.

admin by — July 1, 2026 in News 0
World Cup 2026: Mbappe makes history after scoring two goals against Sweden

France captain, Kylian Mbappe, on Tuesday, made history after scoring two goals against Sweden at the World Cup.

Mbappe led France to beat Sweden in the World Cup Round of 32 fixture as they progressed to the Round of 16 stage.

A brace from Mbappe and a goal from Bradley Barcola gave the French team the victory against Sweden at New York Jersey Stadium.

The brace against Sweden means Mbappe has scored nine goals in nine knockout stage games at the FIFA World Cup.

The Real Madrid forward now has the most goals ahead of any player in these rounds, overtaking Leônidas and Ronaldo (both 8 goals), according to OptaJoe.

Mbappe has so far scored six goals at the ongoing World Cup tournament. He is the joint-top scorer alongside Argentina’s Lionel Messi, who also has six goals.

admin by — July 1, 2026 in News 0
Blackout in Lagos as flood submerges transmission substations

Some parts of Lagos State have been plunged into blackout following the unfortunate flooding in the state.

The Transmission Company of Nigeria, TCN, in a statement issued on Wednesday by its Public Affairs General Manager, Ndidi Mbah declared “force majeure on the Oworoshoki 33KV and Lekki 330/132KV Transmission Substations as a result of flooding caused by continuous rain fall in Lagos”.

TCN lamented that the Oworoshoki 133/33KV Transmission Substation is totally out of service, stating that the flood affected two power transformers.

“Although Lekki 330/132KV Transmission Substation is in service as water is continuously being pumped out of the station, Oworoshoki 133/33KV Transmission Substation on the other hand is currently not in service as the level of water has affected two power transformers TR1 – 60 MVA and TR3 – 30 MVA that tripped on no load even after attempted restoration.

“Presently, all power protection and control cable of the two power transformers are submerged inside water and efforts to evacuate the water has proved ineffective as the rain continues to fall”, TCN lamented.

The company, however assured that normalcy may soon be restored, saying efforts are ongoing to evacuate the water.

“Our engineers are working, doing everything possible to evacuate the flood to enable them to test the transformers for restoration.

“TCN regrets every inconvenience this might cause Eco Disco’s customers taking supply from the substations”, the statement added.

admin by — July 1, 2026 in News 0
BOI appoints Kuramo Capital as fund manager

BOI appoints Kuramo Capital as fund manager

The Bank of Industry has announced the appointment of Kuramo Capital Management as the fund manager of the DICE Fund of Funds, a pivotal milestone under the Federal Government’s Investment in Digital and Creative Enterprises programme.

The contract signing ceremony, according to the organiser, took place in Abuja between the Managing Director of BOI and the Chief Executive Officer of Kuramo Capital, marking an accelerating commitment to empowering Nigeria’s technology and creative entrepreneurs.

The DICE Fund of Funds is structured to achieve a minimum total capitalisation of $170.6m, with the Federal Government contributing an anchor commitment of $85.3m through the iDICE programme. Kuramo Capital is mandated to raise matching private-sector capital on a dollar-for-dollar basis, representing one of the largest dedicated government investments in technology and creative sector startups in African history.

Co-financed by the African Development Bank, Agence Française de Développement, and the Islamic Development Bank, the iDICE programme is designed to promote entrepreneurship, drive innovation, create jobs at scale, and position Nigeria as Africa’s leading hub for the knowledge economy

Speaking on the development, the Managing Director and Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi, expressed pride in driving the historic initiative:

“By investing in Ventures Platform’s Fund II, and now by establishing the DICE Fund of Funds with Kuramo Capital, we are deepening the Federal Government’s objective of upscaling Nigeria’s technology and creative sectors by catalysing strategic investments in high-growth, technology-enabled enterprises. The Bank of Industry is proud to be the executing agency driving this historic investment into the hands of Nigeria’s innovators.”

The fund will deploy capital through indirect investments in selected closed-end venture capital and micro-venture capital funds, ensuring geographic distribution across all 36 states and the Federal Capital Territory to break the historical concentration of venture investment in a handful of urban centres.

Reacting to the appointment, the Chief Executive Officer of Kuramo Capital Management, Mr Wale Adeosun, described the mandate as a landmark moment for the continent:

“The DICE Fund of Funds represents a landmark moment for Africa’s venture capital ecosystem. Nigeria is demonstrating that a government can be both a serious anchor investor and a credible market-builder. We are honoured to be entrusted with this mandate and committed to deploying every resource at our disposal to raise the matching capital, invest wisely, and deliver returns that justify this historic confidence.”

The fund targets a net Internal Rate of Return of 20 per cent and a net money multiple of 2.4x. It is structured with the government’s commitment as a junior tranche acting as 30 per cent first-loss capital, a deliberate risk architecture designed to de-risk the fund structure, improve the risk-return profile for co-investors, and crowd in additional private capital.

Congratulating the BOI and Kuramo Capital, Vice President Kashim Shettima stated that the launch aligned perfectly with the administration’s economic goals for the youth: “The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria, under the leadership of His Excellency President Bola Tinubu, to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda.”

As of June 2026, implementation is well advanced across all three programme pillars, skills and enterprise development, access to finance, and ecosystem enablement. Notably, iDICE has commenced the setup and revamp of digital and creative hubs in 66 institutions, comprising 36 universities and 30 polytechnics, in collaboration with the National Universities Commission and the National Board for Technical Education to link academic research directly to industry.

admin by — July 1, 2026 in Business 0
Telecom regulator NCC gets recognition

Telecom regulator NCC gets recognitionNigeria’s telecommunications regulator has been ranked among the country’s best-performing federal agencies in the latest government assessment of public institutions, a recognition that comes as the commission seeks to strengthen transparency, consumer protection, and regulatory oversight in Africa’s largest telecoms market.

The Nigerian Communications Commission placed third in the 2026 Public Service Reforms Performance Assessment conducted by the Bureau of Public Service Reforms, behind the Nigerian Investment Promotion Commission and the Nigerian Export Promotion Council, it revealed in a statement to The PUNCH.

The assessment evaluated ministries, departments, and agencies across a range of governance indicators, including compliance with the Freedom of Information Act, fiscal transparency, institutional self-assessment, and the quality of official digital platforms.

The ranking provides an independent endorsement of reforms pursued by the NCC over the past two years as the regulator navigates mounting pressure to improve service quality, strengthen consumer confidence, and increase accountability in a telecommunications sector that underpins much of Nigeria’s digital economy.

Receiving the award on behalf of the Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, the commission’s Executive Commissioner for Technical Services, Abraham Oshadami, said the recognition validated the agency’s reform agenda while underscoring the need for sustained improvements.

“This recognition acknowledges our ongoing reform efforts and underscores the need to sustain them,” Oshadami said during the award ceremony in Abuja.

He said the assessment reflected the commission’s efforts to improve service quality, transparency, and responsiveness for telecommunications consumers while reinforcing confidence in regulatory standards across the industry.

The recognition follows a series of governance and regulatory initiatives introduced by the NCC, including the launch of the National Coverage Map, which provides near real-time information on mobile network availability across the country, and the publication of quarterly network performance reports aimed at improving transparency around operators’ service quality.

The regulator has also directed mobile network operators to simplify the presentation of tariff information for consumers and strengthened corporate governance requirements for licensees as part of broader efforts to improve accountability within the industry.

The reforms come at a pivotal period for Nigeria’s telecommunications sector, which is contending with rising operating costs, infrastructure challenges, and growing demand for reliable digital connectivity from businesses and consumers.

Director-General of the Bureau of Public Service Reforms, Dasuki Arabi, said the annual assessment recognises institutions that have demonstrated measurable progress in implementing public sector reforms, improving service delivery, and advancing transparency and accountability.

The latest ranking builds on the NCC’s performance in last year’s BPSR assessment, when it was recognised as the second-best-performing federal agency for official website performance. This year’s evaluation expanded its scope to include broader governance and institutional performance indicators, providing a more comprehensive measure of public sector effectiveness.

For the NCC, the recognition serves not only as a measure of institutional performance but also as an indication that governance standards are becoming an increasingly important benchmark for regulators overseeing critical sectors of Nigeria’s economy.

admin by — July 1, 2026 in Business 0
Alleged N336.9m Fraud: EFCC Arraigns Man, his Company in Lagos

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi, on Monday, June 29, 2026, arraigned Abdulkarim Muhammad Arome, and his company, Cresco Oil and Gas Limited before Justice O. A. Okunuga of the Lagos State High Court sitting in Ikeja over an alleged N336,993,863.35 ( Three Hundred and Thirty-six Million,  Nine Hundred and Ninety Three Thousand,  Eight Hundred and Sixty Three Naira, Thirty-five kobo) fraud involving Lotus Bank.

 

The defendants were arraigned on an amended three-count charge bordering on conspiracy, stealing and retention of proceeds of criminal conduct.

 

According to the charges, the offences are contrary to Sections 409 and 285 of the Criminal Law of Lagos State, 2015, Section 285(1) of the Criminal Law of Lagos State, 2011, and Section 17(a) and (b) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.

 

 

Count one reads:

“Abdulkarim Muhammad Arome, Peter Daniels Prosper, (at large) and Cresco Oil and Gas Limited sometime 2022 at Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to Steal money, property of Lotus Bank”.

 

Count two reads:

“Abdulkarim Muhammad Arome, Peter Daniels Prosper and Cresco Oil and Gas Limited sometime between 2022 and 2023, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use an aggregate sum of N336.993,863.35 (Three hundred and thirty-six million, nine hundred and ninety-three thousand eight hundred and sixty-three Naira, thirty-five Kobo), property of Lotus Bank”.

 

The defendants pleaded not guilty to all the charges when they were read to them.

 

Following the arraignment, prosecuting counsel, E. S. Okongwu, asked the court for a trial date and urged that the defendants be remanded in a Correctional facility pending the commencement of trial.

 

Defence counsel informed the court that she intended to file bail applications and prayed for a short adjournment to enable the applications to be heard.

 

Justice Okunuga ordered that the defendants be remanded at the Ikoyi Correctional Centre and adjourned the case until October 7, 2026, for the commencement of trial.

admin by — July 1, 2026 in News 0
Fidelity Bank partners YEIDEP to empower nigerian students

Leading financial institution, Fidelity Bank Plc, has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative designed to equip young Nigerians with the skills, support and opportunities required to build sustainable livelihoods.
As part of the collaboration, Fidelity Bank is supporting the enrolment of students and young people into the YEIDEP programme, which aims to address youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.
The next phase of the initiative will take place at Nnamdi Azikiwe University, Awka, where the institution has confirmed its readiness to host the enrolment exercise for students and youths across the Southeast region. According to the Office of the Vice Chancellor, the exercise is scheduled to hold from July 1 to July 3, 2026, at the University’s Convocation Arena and is expected to target more than 60,000 regular undergraduate students.
Speaking on the partnership, Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc, noted that empowering young people remains central to the bank’s vision of building a more inclusive and prosperous society.
“At Fidelity Bank, we believe that Nigeria’s greatest asset is its people, particularly its youths. Equipping young Nigerians with the right skills, opportunities and financial support is essential to unlocking their potential and accelerating national development.
“Through our digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships, we continue to provide young people with the tools they need to succeed in an increasingly competitive world. We recognize that access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and we are committed to creating pathways that help them overcome these barriers”, said Ede.
The Bank added that its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises, which remain critical drivers of economic growth and job creation in Nigeria.
Interested youths and students are encouraged to open accounts and register through the dedicated Fidelity Bank portal at https://eserve.fidelitybank.ng/oap/?youth=true.
admin by — July 1, 2026 in Business 0
Access Bank UK Polo Day drives global support for education of vulnerable children

 For many children, the biggest barrier to success is not talent; it is access. Across parts of Nigeria and other underserved communities, the absence of basic educational resources continues to limit what is possible for thousands of young people. Access Bank UK Polo Day has, over the years, positioned itself as a platform designed to address that gap.
Scheduled for July 4, 2026, in Windsor, the event will convene a global audience of business leaders, philanthropists, royalty, and high-net-worth individuals. While it remains one of the most anticipated fixtures on the social calendar, its focus is clear: to mobilise resources and partnerships that support education for vulnerable children.
What sets the Polo Day apart is how it converts visibility into impact. The event brings together a network of influence and directs it towards practical outcomes, funding classrooms, supporting learning programmes, and enabling children to stay in school.
Through its collaboration with UNICEF and local partners, funds generated have supported education initiatives that target some of the most pressing challenges, including access to facilities, materials, and consistent schooling. These interventions have helped thousands of children continue their education despite economic and social barriers.
The objective for 2026 is to extend this reach, raising more support and improving the scale and quality of interventions. At its core, the initiative is driven by a simple idea: that education should be accessible, regardless of circumstance.
This year’s event will also host His Royal Highness, Alhaji Abdulmumini Kabir Usman, as Special Guest of Honour. He will present the Emir’s Cup, adding a layer of heritage and continuity to the occasion.
A respected figure in both sport and community leadership, the Emir represents a long-standing polo tradition in Nigeria, as well as a broader commitment to social development. His participation reflects the wider purpose of the event: connecting influence, legacy, and impact.
Jamie Simmonds, Managing Director of Access Bank UK, highlighted the importance of the initiative: “This event is about using our platform to create access where it is most needed. By bringing together the right partners and supporters, we are able to deliver outcomes that can make a real difference in the lives of many children.”
Over time, the Polo Day has evolved into more than an annual event. It has become a consistent channel for mobilising support and delivering measurable social impact, demonstrating how corporate platforms can be used to address real challenges.
As preparations continue, the significance of the 2026 edition lies in what it enables. At the end of it all, the real outcome is simple: more children in school, more opportunities created, and better futures made possible.
admin by — July 1, 2026 in Business 0