Author: David Great

The Nigerian Senate has launched a wide-ranging investigation into the surge of Ponzi schemes in the country, following the collapse of Crypto Bridge Exchange (CBEX), a digital investment platform accused of defrauding Nigerians of over N1.3 trillion. The scheme (CBEX) has been described as one of the largest financial frauds in Nigeria’s history. Lawmakers cited institutional failures and regulatory lapses as key enablers of such scams, warning that the consequences—ranging from suicides to public mistrust—now threaten the nation’s financial and social stability. The motion was jointly sponsored by Senators Tokunbo Abiru, Osita Izunaso, and received unanimous support from senators across…

Nigeria has obtained a $747 million syndicated loan to fund Phase 1, Section 1 of the Lagos-Calabar Coastal Highway project, covering a 47.47-kilometre stretch from Victoria Island to Eleko Village in Lagos. In a statement issued on Wednesday, Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, described the facility as the largest syndicated road infrastructure loan in Nigeria’s history, signalling strong global investor confidence in the country’s reform agenda and infrastructure plans. Deutsche Bank acted as global coordinator, initial mandated lead arranger, and bookrunner, participating in the syndicate alongside other regional and international lenders. The…

Nigeria’s Ministry of Foreign Affairs on Wednesday reacted to the recent visa restrictions imposed on citizens of the country by the United States of America. In a statement issued by the spokesperson of the ministry, Kimiebi Imomotimi Ebienfa, Nigeria noted that it is in talks with the US to reverse the visa restrictions but did not state whether it would reciprocate if the US refuses to rescind its action. Nigeria noted that the three-month single entry visa restriction would hamper many of its citizens seeking to study, work or even visit the US. “The attention of the Federal Government of…

The United Arab Emirates (UAE) has rolled out more stringent entry requirements for Nigerian travellers, including a complete suspension of transit visa applications. Travel agents confirmed on Tuesday that Dubai immigration has issued a new directive significantly limiting visa eligibility for Nigerians. Under the updated policy, Nigerian nationals aged 18 to 45 will no longer qualify for tourist visas if travelling alone. Only those accompanied by others may be considered. Applicants aged 45 and above must now present a personal six-month bank statement with a monthly balance of at least $10,000 (or its naira equivalent) to be eligible for a…

A former Secretary to the Government of the Federation (SGF), Babachir Lawal, has alleged that several governors and influential members of the All Progressives Congress (APC) are quietly aligning themselves with an opposition coalition ahead of the 2027 general elections. Lawal, who served under former President Muhammadu Buhari during his first term, made this known during an interview on Beyond the Headlines, aired Tuesday on TVC News. “Yes, there are [APC members working with the coalition], and they will speak for themselves. Some might not be brave or bold enough to do it the way I have, but there are…

President Donald Trump of the United States will attend Sunday’s Club World Cup final in East Rutherford, New Jersey, he said at a Cabinet meeting on Tuesday, as world football’s ruling body FIFA announced it had opened an office in New York’s Trump Tower. “I’ll be going to the game,” Trump told reporters. The news came a day after FIFA President Gianni Infantino announced the opening of a representative office at Trump Tower, where the Club World Cup trophy will be on display until the final. “We have received such a big support from the government and from the President…

Chukwuma Soludo, the Governor of Anambra State, has revealed that nearly all individuals arrested for kidnapping and criminal activities in the state over the past three years are of Igbo origin — not Fulani, as widely believed. Speaking during a town hall meeting with Anambra indigenes in the diaspora at Metro Points Hotel, New Carrollton, Maryland, USA, Soludo debunked the long-held narrative that herdsmen were behind the wave of criminality in the South-East. “I have been in office for three years and three months. If we have arrested 100 criminals and kidnappers, 99.99% of them are Igbo youths,” the governor…

Chelsea booked their place in the final of the 2025 FIFA Club World Cup with a 2-0 victory over Fluminense at the MetLife Stadium, ending South America’s representation in the tournament. Fluminense came into the semi-final on an 11-match unbeaten run and showed early resilience, denying Chelsea’s Marc Cucurella and Enzo Fernández clear chances. But in the 18th minute, João Pedro—on his full debut for Chelsea and formerly of Fluminense—opened the scoring with a stunning curler from the edge of the box after a clearance fell kindly to him. Enzo Maresca’s men pushed for a second, with Malo Gusto going…

The Dangote Refinery has once again reduced the ex-depot price of petrol, slashing it from N840 to N820 per litre. This marks a total reduction of N60 within a week, following an earlier drop from N880 to N840. According to the Group’s spokesperson, Anthony Chiejina, the latest reduction aims to ease the burden on consumers. “We have reduced petrol gantry price to N820 from N840 per litre,” he stated, adding that the new price took effect on Tuesday. Just weeks ago, major fuel distributors including Dangote and the Nigerian National Petroleum Company (NNPC) increased petrol prices, citing rising global crude…

The federal government has refuted claims suggesting that water had been released from the Lagdo Dam in Cameroon into Nigeria. In a statement issued on Monday, Joseph Utsev, the Minister of Water Resources and Sanitation, clarified that he had spoken with Ahmad Bivoung, manager of the Lagdo Dam, who confirmed that the dam was currently at a low level of 2.06 metres and “no discharge has taken place.” Utsev assured that the ministry remains in constant contact with Cameroonian authorities and promised Nigerians that they would be notified immediately if any official release occurs. “The public is advised to disregard…