Author: Akintayo Adams

President Bola Ahmed Tinubu has inaugurated Nigeria’s 2025 Armed Forces Remembrance Emblem. He pledged enhanced support for the armed forces’ welfare and honoring those lost in service. Emphasizing security as critical to Nigeria’s economic future, Tinubu vowed ongoing resource allocation to address security challenges. The event also saw donations in support of the military, including ₦500 million from the Federal Government, ₦200 million from the National Assembly, and ₦50 million from top security officials representing the armed forces and police. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

Hezbollah has appointed Naim Qassem as its new leader. This was contained in a Tuesday announcement which confirmed Qassem’s promotion from deputy leader to replace Hassan Nasrallah as the Lebanon-based group’s secretary-general. In a statement, Hezbollah said Qassem was chosen for his “adherence to the principles and goals of Hezbollah.” The group further expressed, “[ask] God Almighty to guide him in this noble mission in leading Hezbollah and its Islamic resistance.” Following the recent killing of Hezbollah leader Nasrallah in an Israeli airstrike, the group has seen increased targeting of its senior figures. Nasrallah’s death has created a leadership void,…

Bitcoin has surpassed $71,000 for the first time since June, driven by substantial inflows into newly approved exchange-traded funds (ETFs) and speculation about the upcoming U.S. election. As of Tuesday morning in London, it traded at $70,870, while Ethereum rose to $2,566 and Dogecoin increased by over 13% to $0.16. The surge follows a shift in investor sentiment after the U.S. Federal Reserve cut interest rates, prompting renewed interest in riskier assets like cryptocurrencies. Recall, Bitcoin hit a new all-time high of $73,737 in March, just two months after the Bitcoin ETFs were approved. Get instant and latest news updates…

Development Partners International has led a $110 million investment round in Nigerian fintech Moniepoint, joined by investors like Google’s Africa Investment Fund, Verod Capital, and Lightrock. This elevated Moniepoint to unicorn status. Moniepoint, originally TeamApt, pivoted to agency banking before expanding into digital banking, now processing $17 billion monthly. The funds will accelerate its African expansion, beginning with the acquisition of KopoKopo in Kenya. DPI’s Adefolarin Ogunsanya praised Moniepoint’s growth, and CEO Tosin Eniolorunda emphasized the mission to advance financial inclusion across Africa. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

Nigeria has seen a growing trend of companies exiting or downsizing due to economic instability, currency fluctuations, and high operational costs. South African retailer Pick n Pay is the latest to announce its departure, planning to sell its 51% stake in a joint venture with A.G. Leventis (Nigeria). Pick n Pay’s exit reflects the challenges faced by businesses in Nigeria’s competitive retail market, as economic pressures, currency instability, and regulatory issues hinder investment viability. This trend underscores the difficulties for companies trying to maintain profitability in Nigeria’s fluctuating economy. Below is a year-by-year breakdown of companies that exited the Nigerian…

South African retailer Pick n Pay announced plans to exit Nigeria, selling its 51% share in a joint venture with A.G. Leventis (Nigeria). L This decision is part of a broader strategy to consolidate operations outside its home market. Pick n Pay, which entered Nigeria fewer than five years ago and operates two stores there, joins a growing list of international companies leaving the country due to increasing challenges to business operations. Get instant and latest news updates via Our WhatsApp Community, X/Twitter or Google News online channel.

The 36 states of the federation, including the Federal Capital Territory (FCT) recorded ₦2.43tn in internally generated revenue (IGR) in 2023. This was in the National Bureau of Statistics (NBS) latest report released on Monday. The report said the IGR recorded in 2023, is higher by 26.5 per cent to the ₦1.92tn IGR recorded in 2022. The Internally Generated Revenue (IGR) for Nigerian states in 2023 mainly came from taxes and revenue from ministries, departments, and agencies (MDAs). Lagos led with the highest IGR, generating ₦815.86 billion, which was 25% higher than in 2022. Rivers and the Federal Capital Territory…

Ratan Tata, the late Indian billionaire, reportedly named his dog Tito as a beneficiary in his Rs 10,000 crore will. Tata, who passed away at 86 on October 9, arranged for Tito’s care under the supervision of his trusted cook, Rajan Shaw. This unique provision highlights Tata’s deep affection for his dog, whom he adopted about six years ago. Tata’s will includes provisions to ensure Tito’s care for life, managed by Tata’s trusted cook, Rajan Shaw. However, the bulk of Tata’s fortune will benefit the Ratan Tata Endowment Foundation, founded in 2022 to carry forward his philanthropic mission. This foundation…

Football Legend and former Netherlands midfielder, Clarence Seedorf, has hinted that problems between UEFA and Real Madrid led to Vinicius Junior missing out on the 2024 Ballon d’Or award. Vinicius Jr. was initially favored to win the Ballon d’Or, but Real Madrid reportedly canceled his flight to the ceremony after learning that he wouldn’t take the award. Instead, Manchester City’s Rodri was ultimately named the world’s best player. But speaking at the event, Seedorf said: “Vini Jr. deserves to keep this award. “I think problems between Real Madrid and UEFA should be kept separated from an award the player deserves.…

Popular Nollywood actress, Regina Daniels, has disclosed that she met her husband during an outing with one of her ex-boyfriends. She disclosed this during a live on Instagram. The actress said: “I went to visit my boyfriend and I was so angry about why we had to go sightseeing, but when we got there I met a cute man. “The moral of the story is that your boyfriend should not stop you from seeing your husband. “When I started with my husband I forgot I was to have boyfriends; of course, I had like 20. When people think I don’t…