Author: Ifetayo Adeniyi

Manny Ita  – In January, the Federal High Court in Lagos granted Moniepoint Microfinance Bank Limited a Mareva injunction against Alerzo Limited and its associates, restraining financial institutions from releasing funds linked to the defendants pending the resolution of an alleged debt dispute. The bank instituted the action against Alerzo Limited; its Managing Director, Opaleye Adewale Adesina; three guarantors — Opaleye Bukola Modinat, Dauda Hakeem Omotayo Taiwo; and Alerzo PTE Limited, a Singapore-based entity. According to court documents, Alerzo Limited applied for the loan through a board resolution dated January 20, 2025, to meet its working capital requirements. Moniepoint approved…

Union Bank of Nigeria has issued a statement reaffirming its steadfast position in the course of ongoing regulatory engagements in response to recent media queries at the Central Bank of Nigeria’s (CBN) 304th Monetary Policy Committee (MPC) press briefing. The bank’s affirmation comes in the wake of Governor Olayemi Cardoso’s clarification on the regulatory framework governing institutions under intervention while speaking on the complexities and structural considerations influencing the recapitalisation timeline. According to the CBN Governor, institutions currently under regulatory oversight are subject to unique circumstances that necessitate a differentiated approach, distinct from those institutions that have had an extended…

By Elegbede Abiodun Berklee programme set to provide participants with instruction in music production, songwriting etc Nigerian Afrobeats superstar Tiwa Savage has unveiled the Tiwa Savage Music Foundation, a new initiative designed to nurture emerging African creatives, alongside a landmark partnership bringing Berklee College of Music to Lagos for the first time. The 46-year-old singer announced the initiative on her social media on Wednesday, declaring: “After years of building globally… It’s time to build at home.” She described the foundation as “dedicated to empowering emerging African creatives through access, mentorship and world-class music education.” As part of the launch, the…

Manny Ita  – Nestlé Nigeria Nestlé Nigeria recorded a net profit of ₦105 billion in 2025, bouncing back from a post-tax loss of ₦164.6 billion in 2024, largely aided by a relatively stable dollar-to-naira exchange rate. The improvement ended two consecutive years of loss-making, during which shareholder funds had turned negative. The company’s audited accounts showed that foreign currency translation losses, which stood at ₦290.7 billion in 2024, fell to zero in the year under review, helping the manufacturer of Milo, Maggi, Golden Morn, and Nescafé reduce net finance costs by approximately 85 percent. The naira opened the year at…

Manny Ita  – A growing number of artists, entrepreneurs and young professionals in Lagos are embracing a new cultural shift dubbed the “Slow Lagos” movement, advocating intentional rest, mental well-being and a more balanced pace of life in a metropolis long defined by relentless activity and economic pressure. The emerging trend, driven largely through social media, creative communities and wellness collectives, encourages residents to disengage from the city’s nonstop grind culture in favor of mindfulness, flexible work patterns and restorative leisure. Supporters argue that the movement is a response to rising burnout, anxiety and exhaustion among urban dwellers struggling to…

President of Ghana, H.E. John Dramani Mahama (5th left) watches on as Mr. Samaila Zubairu, President & Chief Executive Officer of Africa Finance Corporation and Outgoing Chairman of AAMFI (seated, left) and H.E. Mrs. Francisca Tatchouop Belobe, Commissioner for Economic Development, Trade, Tourism, Industry and Minerals at the African Union Commission (seated, right) sign the AIFF agreement.. CREDIT: afreximbank.com African Heads of State and Government formally launched the Africa Infrastructure Financing Facility, a continent-led platform designed to accelerate the preparation and financing of priority cross-border infrastructure projects aligned with Agenda 2063. The launch took place during the Third Presidential High-Level…

File photo: TUC and NLC logos Organised labour in the federal public service has issued a Friday deadline to the Federal Government, demanding the immediate release of funds to settle three months’ outstanding wage awards and other pending allowances owed to workers across Ministries, Departments and Agencies. The leadership of the Joint National Public Service Negotiating Council (Trade Union Side) conveyed the ultimatum in a letter addressed to the Federal Ministry of Labour and Employment, warning that failure to meet the February 27, 2026, deadline would compel the eight unions in the civil service to take decisive action. The unions…

President Bola Tinubu has disclosed the number of health centres that will take advantage of the over N98 billion funds injected into the Primary Healthcare in 2025 which is expected to rise to 13,500 across the country. Tinubu, who described the health sector as fundamental to national productivity, security, economic growth and human dignity, asserted this yesterday at the All Progressives Congress (APC) National Health Convention and Roundtable 1.0 in Abuja. He was represented by the Secretary to the Government of the Federation, Senator George Akume. Noting that a country cannot be prosperous if its citizens were unhealthy, Tinubu said…

Manny Ita  – Gunmen have reportedly abducted four worshippers during a night vigil service at a church in Ondo State, triggering outrage among residents and sparking protests over what locals describe as worsening insecurity across the state. The attack occurred late at night while congregants were gathered for prayers, according to community sources, who said the assailants stormed the church premises, fired sporadically to create panic and whisked away the victims to an unknown destination. Witnesses said the operation lasted only a few minutes, leaving other worshippers traumatized. Residents reported that the attackers arrived on motorcycles and took advantage of…

Sterling Bank Limited has convened senior government officials, industry regulators, institutional investors, hospitality operators, creatives, and traditional leaders in Lagos to drive coordinated action aimed at unlocking sustainable investment and long-term growth in Nigeria’s tourism and creative economy, positioning the sector as a strategic pillar of economic diversification and job creation. The high-level stakeholder engagement brought together public and private sector leaders to examine practical pathways for translating rising global interest in Nigerian culture, entertainment, and destinations into structured, year-round economic value. Discussions focused on aligning policy direction, capital formation, infrastructure development, and enterprise support to strengthen the tourism and…