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Diplomatic hopes on US-Iran talks push oil below $90

File: Crude oilGlobal oil prices tumbled on Monday after United States President Donald Trump said Washington was holding “good talks” with Iran, raising hopes of a diplomatic breakthrough following the suspension of a two-week bombing campaign against the Islamic Republic.

Brent crude, the international oil benchmark, fell by about 8.2 per cent to below $90 per barrel after dropping as low as $87.55 during trading. The decline came after prices briefly climbed above $100 per barrel last week amid heightened tensions in the Middle East.

Reuters quoted Trump as saying there was a good chance of reaching an agreement with Tehran but warned that the United States would resume military action if negotiations failed.

“We’re talking right now. We’re having good talks. I think there’s a good chance that something could happen, and if it does, good; if it doesn’t, we go back to doing what we were doing two days ago,” Trump said.

The latest comments followed Washington’s decision on Saturday to suspend its air strikes on Iran after 13 consecutive nights of bombing.

Despite Trump’s optimism, tensions remained high across the region. Saudi Arabia said it intercepted drones targeting petroleum facilities, including sites in the capital, Riyadh. According to Saudi authorities, the drones were launched from Iraq by Iran-backed armed groups, adding that the kingdom reserved the right to respond.

Iran-backed Houthi rebels in Yemen also claimed responsibility for targeting Saudi Arabia’s East-West Pipeline, which transports crude oil to the Red Sea port of Yanbu. The group said the attack was in retaliation for alleged Saudi drone incursions into Yemeni airspace.

Meanwhile, Iran insisted it had not requested a resumption of peace negotiations with the United States. Foreign Ministry spokesman Esmail Baghaei dismissed reports suggesting Tehran had sought talks, describing them as fabricated.

“This is not in our DNA,” Baghaei said, while noting that messages continued to be exchanged through mediators and that Iran had not abandoned diplomacy.

Tehran also maintained that it remained in control of the Strait of Hormuz, a critical shipping route through which about a fifth of global oil supplies pass, despite Washington’s demand that vessels move freely through the waterway.

According to Iranian state media, authorities turned back six ships on Monday that allegedly attempted to transit the strait without permission.

Reuters reported that Trump’s decision to halt the bombing campaign followed advice from senior military commanders, who reportedly concluded that the strikes had reached the limits of what they could achieve. A US official told the news agency that commanders had expressed concerns over dwindling targets and the depletion of air munitions.

The sharp decline in crude prices could provide some relief to oil-importing countries if sustained, although analysts said the market remained vulnerable to renewed geopolitical tensions should the ceasefire collapse.

admin by — July 28, 2026 in Business 0
CBN Governor Cardoso, To Speak At Business Journal Fintech & Financial Inclusion Roundtable 2026

Mr. Olayemi Cardoso, Governor, Central Bank of Nigeria (CBN) will speak as Special Guest of Honour at the 3rdBusiness Journal Fintech & Financial Inclusion Roundtable 2026 scheduled for Friday, July 31, 2026 at Oriental Hotel, Lekki Road, Victoria Island, Lagos. Time is 10.00 am prompt.

The CBN confirmed the participation of Yemi Cardoso at the Roundtable over the weekend.

The theme of the Roundtable is: Fintech: Driving the Future of Digital Financial Ecosystem in Nigeria.

Other Special Guests of Honour include Dr. Aminu Maida, Executive Vice-Chairman/CEO, Nigerian Communications Commission (NCC) and Mr. Olusegun Omosehin, Commissioner for Insurance/CEO, National Insurance Commission (NAICOM) while Dr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) will Chair the event.

The Keynote Speakers include Mr. Emmanuel Ovaga, CEO, PufferPay Limited and Dr. Chinyere Almona, Director-General/CEO, Lagos Chamber of Commerce & Industry (LCCI).

The Guests of Honour are Mr. Jide Orimolade, President/Chairman of Council, Chartered Insurance Institute of Nigeria (CIIN) and Mrs. Ekeoma Ezeibe, President/Chairman of Council, NCRIB.

Distinguished members of the Panel include:Dr. Muda Yusuf, CEO, Centre for the Promotion of Private Enterprise (CPPE), Mrs. Idu Okeahialam, Group Managing Director/CEO, Royal Exchange Plc, Dr. Obioha Oti, President, Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Mr. Sarafadeen Fasasi, President, Association of Financial Inclusion Agents of Nigeria (AFIAN), Chidubem Emelumadu, Ecosystem Lead (Africa), Lis and Mrs. Sola Longe-Okenimkpe, Chief Operating Officer of Vuvu Africa

The revolutionary success story of Moniepoint, Opay, PalmPay, Flutterwave and others in the digital payment system in Nigeria represents a positive expansion of the financial services sector in the country.

With millions of Nigerians and businesses lacking access to basic financial services, the importance of Fintechs remain sacrosanct in achieving substantial level of Financial Inclusion and expanding the frontiers of the industry.

According to AI Overview, Fintechs in Nigeria have revolutionised the financial landscape by dramatically increasing access to banking services, driving, for example, a 20% increase in financial inclusion and helping to bring the banked population to roughly 63%. These firms have introduced faster, affordable digital payments, lending, and investment services, forcing traditional banks to adopt digital transformation.

The 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 aims to underscore the positive contribution of Fintechs in deepening Financial Inclusion, expanding access to financial services and contributing to economic growth in the country.

Expected participants at the Roundtable include regulators, operators from key sectors of the economy, media and members of the general public.

admin by — July 28, 2026 in Business 0
TotalEnergies Rejects Court’s Ruling Ordering Alignment With Climate Change Goals

French supermajor TotalEnergies, has hinted its intention to appeal a landmark decision of the Paris Judicial Court from last month, which ordered it to align its business to climate change goals as it held it responsible for climate change.

In a statement, TotalEnergies said that it had decided to appeal the ruling, rendered under the French duty of vigilance law, arguing that “climate change, as a global phenomenon, does not fall within the scope of the duty of vigilance law.”

The oil major also considers that “Imposing companies in energy, defense, aeronautics, or automotive sectors to control risks resulting from the use of their products by their customers does not appear to be consistent with the objectives of the law, or the principles of legal certainty and freedom to conduct business.” Oil.com reports.

“TotalEnergies does not decide whether a motorist chooses to drive a petrol-powered vehicle, use biodiesel, or drive an electric vehicle,” the oil and gas supermajor said, adding that it “seeks to ensure that motorists have access to the energy they choose to use.”

The French firm said it would advance its arguments before the Paris Court of Appeal.

TotalEnergies is not the only European supermajor fighting climate orders in court.

Shell has been dragging a climate lawsuit through Dutch courts for half a decade.

Environmental activists in April launched a new lawsuit against Shell in the Netherlands, demanding that the supermajor stop bringing new oil and gas fields on stream to avoid additional emissions.

In 2024, a Dutch court of appeal handed a victory to Shell in the first landmark climate case, overturning a lower court ruling that had obliged the supermajor to slash its greenhouse gas emissions.

The Court of Appeal of The Hague overturned the 2021 ruling of the District Court of The Hague, in the case brought against Shell by the environmentalist organization Milieudefensie, other NGOs, and a group of private individuals

admin by — July 28, 2026 in Business 0
Once you join APC, corruption allegations disappear – Peter Obi

Presidential candidate of the Nigeria Democratic Congress (NDC), Peter Obi, has criticised Nigeria’s political system, claiming that politicians accused of corruption often appear to be cleared of wrongdoing once they defect to the ruling All Progressives Congress (APC).

Obi made the remark during an interview on Politics Today, a Channels Television programme, where he also argued that Nigeria’s political parties lack clear ideologies.

According to him, the country’s politics has become driven by personal interests rather than principles.

“For me, there is no political party in Nigeria Today that has an ideology. There is none. Otherwise, the ideology of the APC would be that if you are corrupt and you move to the APC, you are no longer corrupt,” he said.

The former Anambra State governor maintained that what Nigeria needs are competent and committed leaders with integrity and compassion, rather than politicians who change parties for personal gain.

He also accused the ruling party of weakening opposition parties, alleging that the crises affecting the African Democratic Congress (ADC), the Nigeria Democratic Congress (NDC), and previously the Labour Party (LP) were not accidental.

“The president said it, and it is happening. When opposition parties are having problems, that is his wish. Because of it, they are destroying the judiciary,” Obi alleged.

He said that, if elected president, he would protect opposition parties and ensure they operate freely without interference from the government or regulatory agencies.

Obi also dismissed claims that endorsements from state governors would guarantee President Bola Tinubu victory in the 2027 presidential election.

He argued that governors’ support does not always reflect the views of the people in their states.

admin by — July 27, 2026 in News 0
2027: ADC collapses into Wike’s Rainbow Coalition in Rivers State [Video]

Ahead of the 2027 general elections, a faction of the African Democratic Congress, ADC, in Rivers State, led by its national Chairman, Ibe Kachikwu has aligned with the Rainbow Coalition formed by the Minister of the Federal Capital Territory, FCT Nyesom Wike.

In a viral video, the ADC Secretary in Ikwerre Local Government Area of the state, Samuel Chuku was heard saying that they were instructed by their national leader to back Wike’s coalition ahead of the 2027 general elections.

The party leaders, at an engagement meeting in Isiokpo, the headquarters of Ikwerre Local Government Area, said they will work with the Rainbow Coalition for the coming elections.

The faction insisted that they remained the authentic leaders of the ADC in the council and would continue to align with the coalition pending the resolution of the leadership dispute by the Supreme Court.

They urged loyalists of the former Rivers State Governor, Rotimi Amaechi to stop parading themselves as executive members of the party.

Samuel said, “Our leader, Ibe Kachikwu has directed ADC in Rivers to align with coalition led by Nyesom Wike. We are aware that some persons are parading themselves as ADC leaders in Ikwere local government.

“We are here to tell those people that they are intruders. They want to reap from where they did not sow.

“ADC leadership has directed that we should align with the coalition headed by Wike pending when the Supreme Court will decide who should be the authentic national”

admin by — July 27, 2026 in News 0
It was technical glitch – Kano govt explains double salary payments to workers

The Kano State Government has directed the recovery of duplicate July 2026 salary payments mistakenly credited to some civil servants, attributing the incident to a technical glitch during the salary payment process.
The directive was contained in a notice signed by Abdulhadi Hamza, Deputy Director, KIPPIS, for the Kano State Accountant General and dated July 26, 2026.

According to the circular, the duplicate salary payments resulted from “a technical issue on the part of the bank during the salary payment process.”

The government said the affected bank has commenced the process of reversing the excess payments directly from the accounts of workers who received the duplicate salaries.

“The concerned bank is currently making efforts to reverse the duplicate payments directly from the affected accounts. In view of this, all affected staff are kindly advised not to take any action at this time and to await further directives from the Office of the Accountant General,” the notice stated.

The government added that where the bank is unable to recover the excess payment through the reversal process, affected workers would be formally notified and guided on the appropriate procedure for refunding the overpaid amount.

The Accountant General’s Office also appealed for patience and cooperation from civil servants as efforts continue to resolve the issue.

admin by — July 27, 2026 in News 0
Troops rescue two kidnap victims during fighting patrol in Taraba

Troops of the 6 Brigade, Nigerian Army, and Sector 3 of Operation Whirl Stroke (OPWS) have rescued two kidnapped victims during a fighting patrol in Lau Local Government Area of Taraba State.

The rescue operation, carried out in the early hours of Saturday, July 26, followed credible intelligence on the activities of suspected kidnappers operating in the Lande Jessi general area.

According to a statement issued on Monday by the Acting Assistant Director, Army Public Relations, 6 Brigade Nigerian Army, Lieutenant Umar Muhammad, the troops launched the operation after receiving reports that armed criminals had attacked Tashan Musa and Barkindan Fulani villages, abducting two residents and making away with food items.

The statement said the troops conducted targeted search-and-rescue operations across the area, leading to the successful rescue of the two victims, identified as Usman Mohammed and Usman Harusu. The victims were reportedly held captive for about one week before their rescue.

The Commander of the 6 Brigade, Nigerian Army, and Sector 3, Operation Whirl Stroke, Brigadier General Chukwuemeka Michael Akaliro, commended the troops for their swift response, professionalism, and resilience, describing the operation as a demonstration of the military’s commitment to protecting lives and property in Taraba State.

Akaliro said the operation was in line with the directive of the Chief of Army Staff, Lieutenant General Waidi Shaibu, to decisively tackle criminality and restore lasting peace across the country.

He urged the troops to sustain the ongoing operations and remain vigilant in denying criminal elements freedom of movement within their area of responsibility.

The brigade commander also reassured residents of the Nigerian Army’s commitment to safeguarding law-abiding citizens and appealed to members of the public to continue supporting security agencies with timely and credible information to aid ongoing security operations

admin by — July 27, 2026 in News 0
Tinubu has turned Aso Rock into bunker – Peter Obi

Presidential candidate of the Nigeria Democratic Congress, NDC, for the 2027 general elections, Peter Obi, has accused President Bola Tinubu of turning Aso Rock into a bunker.
Obi made the claim on Sunday during a live appearance on Channels Television.

He challenged President Tinubu to come out of the ‘bunker’ and speak to the Nigerian people whom he is governing.

“A leader must be speaking to his people. The person we voted for in this country is Bola Tinubu. He’s no longer talking.

“President Tinubu has turned Aso Rock into a bunker. He is no longer talking. He should come out of that bunker and speak to the people. Where is the man we gave our mandate?

“We didn’t vote all these characters talking to us. I will be speaking to the people. I’ll be telling them ‘I said I’ll do this’ and that is what it will be. That’s why I said there should be commitment.

“Today, we are talking about fake agency in the government. Where is the man who is leading the country? He should be the one talking to everybody,” Obi said.

admin by — July 27, 2026 in News 0
PR Confab: NCS, Media deepen partnership to boost public confidence 

The Nigeria Customs Service (NCS) has underscored the importance of a stronger partnership with the media as it seeks to enhance public confidence, improve awareness of its reforms and prom ote accurate reporting on its operations.
The commitment was reaffirmed last week during a strategic media engagement preceding the opening of the 2026 Nigeria Customs Service Public Relations Conference in Port Harcourt, Rivers State. The Zonal Coordinator, Zone ‘C’, Acting Assistant Comptroller-General of Customs, Pascal Chibuoke, declared the session open on behalf of the Comptroller-General of Customs, Adewale Adeniyi.
Addressing journalists and communication professionals from the South-East and South-South zones, Acting ACG Chibuoke encouraged participants to take full advantage of the conference, stressing that effective communication remains critical to strengthening the Service’s relationship with the public.
He urged stakeholders to continue projecting the positive image of the Nigeria Customs Service through accurate information sharing and greater public understanding of the agency’s statutory responsibilities.
Speaking at the event, the National Public Relations Officer of the Service, Deputy Comptroller Abdullahi Maiwada, described the media as a vital partner in advancing the Service’s transformation agenda. He noted that the ongoing reforms in Customs require public support, which can only be achieved through transparent communication and credible reporting.
“The reforms and innovations we are driving in the Nigeria Customs Service cannot succeed in isolation without public understanding and trust,” Maiwada stated.
The Customs Area Controller of Port Harcourt Area I Command, Comptroller Salamatu Atuluku, described the conference theme, “Realigning Corporate Communication as a Strategic Driver of Institutional Effectiveness and Public Trust,” as both timely and strategic.
She commended the Comptroller-General for fostering a culture of openness that has strengthened public engagement and applauded the National Public Relations Officer for sustaining effective communication initiatives across the Service.
Earlier, Chairman of the Local Organizing Committee, Chief Superintendent of Customs Emmanuel Tangwa, said the choice of Port Harcourt as host city reflects the strategic importance of the South-South region to Nigeria’s economy. According to him, the conference provides an avenue to showcase the Service’s achievements, explain key policies and address public misconceptions through direct engagement with the media.
Also speaking, Chairman of the Nigeria Union of Journalists (NUJ), Rivers State Council, Paul Bazia, praised the Nigeria Customs Service for maintaining a transparent relationship with journalists. He reaffirmed the commitment of the media to accurate, timely and responsible reporting, noting that sustained collaboration between the press and Customs will further strengthen public trust.
admin by — July 27, 2026 in News 0
Heirs Holdings portfolio companies earn international recognitions across industries 

Three Heirs Holdings portfolio  Companies — Transcorp Group, Abuja Electricity Distribution Company(AEDC) and Redtech – have earned recognition in leading global and continental business rankings published by The Africa Report and CNBC, reinforcing Heirs Holdings’ strategy of building leading businesses across sectors.
These recognitions reflect the strength of Heirs Holdings’ diversified portfolio and its continued focus on long-term investment and operational excellence that are fundamental to Africa’s economic development.
Diversified conglomerate, Transcorp Group, and Abuja Electricity Distribution Company (AEDC) were named in The Africa Report’s 2026 500 Business Champions, an annual ranking of Africa’s leading companies. The recognition reflects their sustained performance, operational resilience and long-term contribution to strengthening Africa’s economic development.
Technology company, Redtech, was recognised in the Payments category of CNBC and Statista’s 2026 World’s Top Fintech Companies, selected from more than 3,500 fintech companies worldwide. One of only 11 African companies included in this year’s ranking of the world’s top 500 fintech companies, Redtech’s recognition highlights its contribution to advancing digital payments and financial infrastructure across Africa.
The latest recognitions build on earlier honours received this year, when two other Heirs Holdings’ portfolio companies, Heirs Life Assurance and Heirs General Insurance (both members of Heirs Insurance Group), as well as Redtech, were named among the 2026 Financial Times’ Africa’s Fastest-Growing Companies. These achievements underscore Heirs Holdings’ track record of creating value through a diversified portfolio of category-leading businesses.
About Heirs Holdings
Heirs Holdings is a leading pan-African investment company with a diversified portfolio spanning the power, energy, banking, insurance & financial services, technology, hospitality, real estate and healthcare sectors, operating in twenty-four countries worldwide.
Heirs Holdings is guided by Africapitalism, the economic philosophy developed by its Founder and Group Chair, Tony O. Elumelu, CFR, which recognises the private sector as a catalyst for Africa’s economic and social development. Driven by this philosophy, Heirs Holdings invests for the long-term, bringing strategic capital, sector expertise, a track record of business success, and operational excellence to build enduring businesses.
admin by — July 27, 2026 in Business 0