Author: Ifetayo Adeniyi

Considering ongoing reforms, the financial services sector contribution to Nigeria’s Gross Domestic Product (GDP) closed 2025 at N6.58 trillion, about 15 per cent increase over N5.74 trillion reported in 2024. This is according to the latest fourth quarter (Q4) 2025 GDP report by National Bureau of Statistics (NBS). The recapitalisation exercise directive by the Central Bank of Nigeria (CBN) and the National Insurance Commission (NAICOM) dominated the sector in 2025. Specifically, the objective of the CBN recapitalisation program is to strengthen the financial system, enabling banks to support long-term projects and economic growth. The exercise attracted foreign investors and inflows…

Manny Ita  – Nigeria’s capital city is preparing to host the 2026 edition of the AfriCulture Fashion Show and Awards, scheduled to take place on March 13 at the Transcorp Hilton Abuja, in what organisers describe as a major cultural gathering aimed at promoting African heritage, fashion innovation and youth-focused social advocacy. The event, organised by the Global Awareness for Development Initiatives, is expected to bring together policymakers, designers, cultural practitioners and development advocates from across Africa under the theme, “Empowering the African Boy Child Towards a Balanced Future.” Organisers said the initiative goes beyond fashion exhibition, positioning culture and…

Manny Ita  – The opening sessions of the Enugu Tech Festival 2026 concluded on Monday with stakeholders highlighting the rapid transformation of Enugu from its historic coal-mining identity into an emerging centre for technology, innovation and experiential tourism in Nigeria’s South-East region. Held under the theme “Coal to Code,” the festival brought together technology entrepreneurs, investors, policymakers and creatives who examined how digital innovation is reshaping economic opportunities while preserving the cultural heritage long associated with the city popularly known as the Coal City. Organisers said the theme reflects Enugu’s evolving economic narrative, moving from extractive industries toward knowledge-based development…

Manny Ita  – A new industry report released on Monday has identified the rapid global expansion of Afrobeats as a major driver behind Lagos’ transformation from a traditional corporate and commercial hub into what analysts now describe as a leading lifestyle and entertainment destination on the African continent. The report, unveiled in Lagos by stakeholders within Nigeria’s creative and tourism sectors, noted that the international success of Afrobeats artists, festivals and nightlife culture has significantly reshaped global perceptions of the city, attracting increased interest from leisure travellers, music enthusiasts and cultural investors. Officials of the Lagos State Ministry of Tourism,…

Manny Ita  – The official countdown to the 2026 edition of Lagos Gallery Week (LGW) began on Monday, with organisers confirming that more than 20 galleries across Lagos will simultaneously open their doors to the public from March 5 to March 8 in what has become one of Nigeria’s fastest-growing contemporary art showcases. The four-day event is expected to transform the city into a large-scale cultural circuit, connecting galleries and creative hubs stretching from Yaba’s emerging art district to the commercial and residential corridors of Lekki. Organisers described the initiative as a coordinated “art crawl” designed to encourage public engagement…

Manny Ita  – Concerned staff members of the Forestry Research Institute of Nigeria (FRIN) have petitioned the institute’s governing board over allegations of age falsification, unlawful salary collection and gross misconduct against the Director of Human Resources, Adenike Adesanya. In a petition dated February 25 and addressed to the governing board, the staff members said their action was taken “in the interest of transparency, accountability and prudent management of public resources.” The petitioners alleged that Mrs Adesanya has continued to receive full government salaries and emoluments since 2024 despite allegedly attaining the mandatory retirement age of 60. According to the…

Manny Ita  – Escalating tensions between the United States, Israel and Iran following coordinated military strikes on February 28 have begun influencing global financial markets, with analysts warning that the resulting oil price surge could significantly affect Nigeria’s equity market performance. The latest escalation triggered immediate reactions in global crude markets, even before military exchanges intensified, as investors priced in geopolitical risks linked to potential disruptions in energy supply routes. Brent crude, the European benchmark, climbed to about $73 per barrel ahead of the weekend close, marking its highest level in six months after gaining more than two per cent…

Manny Ita  – Russian President Vladimir Putin has condemned the killing of Iran’s Supreme Leader, Ali Khamenei, describing the incident as “a murder committed in cynical violation of all norms of human morality and international law,” while extending condolences to the Iranian leadership and people. In a message addressed to Iranian President Masoud Pezeshkian and published by the Kremlin press service on its official communication channels, Putin praised Khamenei’s role in strengthening bilateral ties between Moscow and Tehran. He stated that “in our country, Ayatollah Khamenei will be remembered as an outstanding statesman who made a huge personal contribution to…

Manny Ita  – Israel and Hezbollah exchanged cross-border fire amid rapidly escalating hostilities linked to the ongoing war involving Iran, as United States President Donald Trump warned that the conflict could extend for several weeks while pledging retaliation for the deaths of American service members. The Israeli military said it carried out strikes against Hezbollah positions across Lebanon after the Iran-backed group launched rockets and drones toward Israeli territory. In a statement, the military said that “in response to Hezbollah’s projectile fire toward the State of Israel,” Israeli forces had “begun striking targets of the Hezbollah terrorist organisation across Lebanon.”…

Manny Ita  – The 2026 edition of the Actor Awards, formerly known as the Screen Actors Guild Awards, was held on Sunday night, with major victories for the film Sinners and television comedy series The Studio, as Hollywood’s awards season enters its final stretch toward the upcoming Academy Awards scheduled for March 15. Sinners, which entered the ceremony with five nominations, secured two of the night’s most prestigious honours, including outstanding performance by a male actor in a leading role for Michael B. Jordan, who earned recognition for portraying twin characters in the critically acclaimed vampire-period hybrid film directed by…