PRESIDENT Bola Tinubu has accused beneficiaries of the former fuel subsidy regime and multiple foreign exchange system of being behind the growing insecurity and attempts to destabilise Nigeria following his administration’s economic reforms. Tinubu also revealed that powerful cabals benefiting from forex round-tripping and oil subsidy corruption now “wish him dead” because of the policies he introduced after assuming office in 2023. News Point Nigeria reports that the president spoke through former Ogun State Governor, Olusegun Osoba, on Wednesday during the launch of the book The NADECO Story, written by Chief Ayo Opadokun, at the Muson Centre in Onikan, Lagos.…
Author: Abimbola Daniels
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AFRICA’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its commitment to strengthening diaspora engagement, advancing healthcare development in Nigeria through the introduction of its healthcare investment proposition to the Nigerian-American medical community at the 2026 ANPA Carolinas Symposium held in Charlotte, North Carolina. The ANPA Carolinas Symposium, hosted annually by the South Carolina and North Carolina Chapters of the Association of Nigerian Physicians in the Americas (ANPA), convenes over 170 physicians and healthcare professionals for medical and scientific dialogue on issues impacting communities across North America, the Caribbean, and Africa, particularly among people of Nigerian descent. Speaking…
FEMI Otedola, chairman of First HoldCo, has revealed plans to invest $100 million in the Dangote Refinery. News Point Nigeria reprots that Otedola made the announcement on Wednesday after leading top executives of First HoldCo on a visit to the refinery. The development comes barely a week after the billionaire businessman denied reports claiming he funded the Dangote Petroleum Refinery project. At the time, Otedola clarified in a post on X that he had not invested any money in the refinery, insisting that he had not contributed “a single kobo, dollar, or naira” to the project. The Dangote Group had…
TRIBEST Corporate Service Group has announced the appointment of seasoned human resources and corporate administration expert, as Group Executive Director, in a strategic move aimed at strengthening the Group’s leadership capacity and accelerating its growth across its manpower, outsourcing, and energy support businesses. The appointment comes as Tribest Corporate Support Group continues to deepen its position as a leading provider of recruitment, outsourcing, workforce management, and energy support solutions for organizations across Nigeria. With over 35 years of professional experience spanning banking, manufacturing, oil servicing, and public sector operations, Abel Fadebi brings to the Board a wealth of leadership expertise…
UNITED Bank for Africa (UBA) Plc has reaffirmed its commitment to advancing Africa’s economic transformation through entrepreneurship, innovation, trade facilitation, and strategic global partnerships at the Africa Forward Summit 2026 held in Nairobi, Kenya. The Summit, themed “Africa–France Partnerships for Innovation and Growth,” convened Heads of State, policymakers, investors, entrepreneurs, and business leaders from across Africa and Europe to explore sustainable pathways for economic growth, industrialisation, and stronger cross-border collaboration. Speaking at the Summit, Emmanuel Macron emphasised the need for a renewed partnership between Africa and France anchored on innovation, investment, and shared prosperity. “Africa and France are equal partners…
THE Nigeria Customs Service has handed over several stolen luxury vehicles traced to Canada after intercepting them at the Tin Can Island Port, in what officials described as a major breakthrough against transnational vehicle theft syndicates. News Point Nigeria reports that the recovered vehicles, which included exotic brands such as Lamborghini, Rolls-Royce and Mercedes-Benz, were formally handed over to Canadian authorities during a ceremony held at the Tin Can Island Port on Monday, May 4, 2026. The Deputy High Commissioner of Canada to Nigeria, Nasser Salihou, received the vehicles from the Customs Area Controller of the Tin Can Island Command,…
UNITED Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership that expands cardless payment access for consumers and merchants across Nigeria. Redtech is backed by Heirs Holdings; MoMo PSB is MTN Nigeria’s fintech subsidiary. With this development, MoMo PSB customers can now make payments directly from their MoMo wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals; they can also visit any UBA branch to make withdrawals and deposits from and into their MoMo accounts. For online shoppers, e-commerce merchants can now receive payments directly from MoMo PSB…
THE coroner sitting at the JIC Taylor Courthouse, Lagos Island, has suspended the hearing into the cause of death of 21-month-old Master Nkanu Adichie-Esege, son of renowned author Chimamanda Adichie and Ivara Esege. News Point Nigeria reports that the coroner, Magistrate Atinuke Adetunji, said she’s suspending the proceedings pending further directives from the chief coroner, Justice Mojisola Dada. Before suspending the proceedings, however, Magistrate Adetunji queried the Attorney General & Commissioner for Justice, Senior Advocate of Nigeria, Lawal Pedro, for stalling the proceedings of the day in her courtroom. When the matter was called for hearing, Magistrate Adetunji was informed…
ZENITH Bank Plc has announced the retirement of its Founder and Group Chairman, Jim Ovia, following the expiration of his tenure in line with regulatory requirements. The bank disclosed this in a corporate notice made available to News Point Nigeria in Lagos on Tuesday. Ovia completed the mandatory 12-year tenure permitted under corporate governance guidelines for financial holding companies, non-interest banks, and payment service banks in Nigeria. As the founder of Zenith Bank, he has been a central figure in its growth trajectory and was credited by the Board for providing strong leadership, strategic direction, and effective oversight throughout his…
UNITED Bank for Africa has dismissed as false, malicious and defamatory reports circulating on social media alleging that its Group Chairman, Tony O. Elumelu, divorced his wife. In a statement sent to News Point Nigeria by the Group Head, Brand, Marketing & Corporate Communication, Alero Ladipo, UBA described the reports and related online publications as entirely fabricated, reckless and deliberately designed to mislead the public while causing reputational damage to the prominent businessman and the financial institution. According to the statement, the bank’s attention had been drawn to what it called a coordinated campaign of falsehood currently being circulated across…
GOVERNOR Babajide Sanwo-Olu has approved a N50,000 wage award for public sector workers in Lagos State. The governor announced the award on Friday during the International Workers’ Day celebration held at Mobolaji Johnson Arena. Sanwo-Olu, who was represented by his deputy, Obafemi Hamzat, said the award would apply for the month of May as part of efforts to cushion the impact of rising cost of living. “For the month of May, Lagos State Government has approved an additional N50,000 for all workers. “We are aware of prevailing economic challenges, including increasing fuel prices and global pressure. This decision is to…
THE pump prices of Premium Motor Spirit (petrol) are nearing N1,400 per litre in many parts of the country as the United States and Iran continue to disagree over a ceasefire expected to lead to the reopening of the Strait of Hormuz. News Point Nigeria reports that the lingering crisis in the Middle East, combined with the reported exit of the United Arab Emirates from the Organisation of the Petroleum Exporting Countries (OPEC) on Tuesday, has continued to push global oil prices upward, with direct consequences for fuel prices in Nigeria. Brent crude, which traded at $105 per barrel on…
THE National Drug Law Enforcement Agency (NDLEA) Wednesday said its operatives seized a total of 2,360,000 pills of tramadol 225mg and 1,909,400 bottles of codeine syrup worth a combined street value of over N16.9 million from an illegal warehouse in Lagos. A statement sent to News Point Nigeria by the Agency’s Director, Media and Advocacy, Femi Babafemi, noted that the feat was achieved during an operation on Friday, 17th April 2026, at 98 Olukayode Awofisayo Street, Park View Estate, Ago Palace, Okota, where a large warehouse was uncovered, and two others at 5 Charles Ndumetu Street, Park View Estate, Ago…
DESPITE President Bola Ahmed Tinubu’s approval of a 30 per cent debt relief for domestic carriers, Nigeria’s aviation sector is facing a looming shutdown, as airline operators warn they may halt operations from Thursday, April 30, 2026, over soaring aviation fuel prices. News Point Nigeria gathered that the dual developments, government intervention and industry resistance underscore a deepening crisis, with airlines insisting that the relief measures fall short of addressing the fundamental challenge of skyrocketing Jet A1 fuel costs. There are strong indications that domestic airlines may suspend operations nationwide, a move that could trigger widespread travel disruption and uncertainty…
AFRICA’s Global Bank, United Bank for Africa (UBA) Plc has reported a strong underlying performance for the financial year ended December 31, 2025, even as its results reflected the impact of significant one-off charges linked to prudent risk management decisions. The bank recorded gross earnings of about N3 trillion, underpinned by solid business fundamentals, despite a marginal decline compared to the previous year. The financial performance was, however, affected by material loan loss provisions of N331 billion and fair value changes on derivatives amounting to over N227 billion. These impacts, according to the bank, are largely non-recurrent at least not…
OPERATIVES of the Nigeria Security and Civil Defence Corps (NSCDC), Lagos State Command, have uncovered and dismantled a suspected baby factory operating in the Okuju area of Ilado, Badagry, in Lagos State. The operation, carried out between Wednesday night and the early hours of Thursday, led to the rescue of 18 pregnant women and 10 children, while two suspected operators of the facility, Joy Okeke and Raphael Agwu, were arrested. According to findings by News Point Nigeria, the victims were lured into the operation through offers circulated on a Facebook platform, where they entered into agreements tied to pregnancy and…
FORMER Minister of Petroleum Resources, Diezani Alison-Madueke, has told a United Kingdom court that she exercised limited control over the approval of oil contracts during her tenure, insisting that most decisions were concluded before reaching her office. News Point Nigeria reports that testifying at the Southwark Crown Court, Alison-Madueke explained that contract processes within Nigeria’s oil sector typically passed through multiple agencies before arriving at the minister’s desk. According to her, the structure of the system meant that the ministry largely played an oversight role rather than a direct operational one. She stated that the operational authority of the sector…
IN many of Africa’s fastest-growing cities, the daily commute has become more than just a routine, it is a test of endurance. News Point Nigeria reports that top of the ranking is Lagos, which stands out as the most congested city in Africa. With a Traffic Index of 348.5 and an average one-way commute of about 68 minutes, the city reflects the extreme pressure placed on road networks by rapid population growth, commercial activity, and limited transport infrastructure. For many residents, significant portions of the day are lost in traffic before work even begins. According to the latest Numbeo Traffic…
Commends CBN’s Global Recognition THE Association of Corporate Affairs Managers of Banks (ACAMB) has commended the Nigerian banking industry for its strength, capacity and resilience following its enviable compliance ahead of the March 31 recapitalisation deadline. With over 96% compliance, the association applauded the disciplined execution of the exercise by all financial institutions and extended special praise to the Central Bank of Nigeria (CBN) for its regulatory oversight. It will be recalled that In March 2024, the CBN released a circular on review of minimum capital requirement for commercial, merchant and non-interest banks. The apex bank increased the new minimum…
THE Lagos State chapter of the All Progressives Congress (APC) has debunked allegations that its delegates were stranded while travelling for the party’s national convention in Abuja, insisting that all logistics were properly handled. In a statement sent to News Point Nigeria on Saturday, the Lagos APC spokesman, Hon. Seye Oladejo, described a report by Sahara Reporters as inaccurate and sensational, maintaining that delegates from the state were neither abandoned nor inconvenienced. According to the party, all accredited delegates from Lagos State were conveyed to Abuja in a “coordinated, orderly, and comfortable manner,” contrary to claims that they were left…