Author: Gift Ifeanyi

Uganda’s shadowy gold trade has once again come under scrutiny after authorities dismantled a $70,000 scam targeting a Nigerian investor. The sting, carried out by the State House Anti-Corruption Unit (SH-ACU) and the Criminal Investigations Directorate, shines a spotlight on how fraudsters continue to exploit the region’s lucrative but poorly regulated precious metals market. The victim, Nigerian businessman Mark Gbillah, was lured by promises of seven kilograms of gold from two purported suppliers — Legacy Refinery Limited and Emerod Agency Limited. Investigators say both companies were fictitious fronts run by a network of four Congolese and three Ugandan nationals. On…

Kaduna, Nigeria – For Halima Ibrahim, a petty trader in Sokoto, the daily struggle to keep her shop running was a battle against high energy costs and dwindling profits. In Kachia, Kaduna State, farmer Musa Ali’s failing eyesight made even simple tasks a challenge. This month, their stories — and those of thousands like them — took a turn for the better. Free medical services, prescription glasses, and ₦50,000 business grants have reached communities long overlooked in the fight against poverty. In some cases, beneficiaries also received solar kits, cutting their reliance on costly fuel and improving business efficiency. These…

In a bold step to accelerate women-led enterprise growth in Nigeria, First City Monument Bank (FCMB) has joined forces with the International Finance Corporation (IFC) to deliver the globally acclaimed Goldman Sachs 10,000 Women program. The initiative, developed by Goldman Sachs and hosted online by the University of Leeds, offers small and medium-sized businesses unrestricted access to 10 comprehensive courses covering essential business skills. Participants also gain entry into a thriving global alumni network of female entrepreneurs. Since its inception, the program has reached over 200,000 entrepreneurs worldwide, blending practical education with interactive learning and expert-led sessions from top business…

Lagos, Nigeria — At the first-ever Digital Professional Fair 2025, the message to Nigeria’s youth was unambiguous: in the 21st century, mastery of digital tools is not just an advantage — it’s the currency of relevance in the global marketplace. Held at the Landmark Event Centre, Victoria Island, the two-day fair brought together industry leaders, innovators, and legal experts to bridge what organisers called “Nigeria’s digital readiness gap.” From branding and entrepreneurship to legal literacy and artificial intelligence, the conversations circled back to one core truth — young Nigerians must be ready to compete beyond the nation’s borders. Building Slow,…

Two decades after failed privatisation turned Nigeria’s once-thriving steel plants into rusting monuments, the Federal Government is launching its most ambitious revival plan yet — one it says could end the country’s $4.5bn annual steel import bill, create half a million jobs, and restore a key pillar of economic sovereignty. President Bola Tinubu, speaking through Vice President Kashim Shettima at the first-ever National Steel Stakeholders’ Summit in Abuja, described the steel sector as “the very foundation of industrial growth, job creation, and sustainable development” — and warned that Nigeria’s dependence on imported steel is both an economic liability and a…

In a decisive bid to revive Nigeria’s troubled electricity sector, the federal government has approved a phased strategy to refinance ₦4 trillion ($2.61 billion) in outstanding power industry debt — a move officials say will unlock long-delayed investments and ease the country’s persistent blackouts. The liabilities, owed to 27 power generation companies for unpaid invoices dating back to 2015, have long hampered the sector’s growth, discouraging new capital inflows and worsening supply gaps in Africa’s most populous nation. Following a recent verification of claims, President Bola Tinubu has given the green light for the debt settlement plan, which will be…

Once hailed as Nigeria’s boldest leap into world-class tourism and investment, the Tinapa Business and Leisure Resort in Adiabo, on the outskirts of Calabar, now stands as a faded monument to unrealised ambition. Launched in 2007 after a $350 million build under then-Governor Donald Duke, Tinapa’s promise seemed unstoppable. Spread across 265 hectares, with a shopping mall, film studio, casino, water park, hotel, and artificial tidal lake, it was meant to be Africa’s Dubai on the Cross River. The Federal Government even granted it Free Trade Zone status in 2006, sparking investor excitement. But the dream quickly hit legal, political,…

The Economic and Financial Crimes Commission (EFCC) has issued a strong warning to real estate developers across Nigeria, urging them to vet the financial sources of potential investors or face losing properties tied to illicit funds. Speaking in Abuja on August 6, 2025, at the Policy Dialogue on Critical Issues Affecting Nigeria’s Real Estate Ecosystem — a forum convened by Law Corridor — EFCC Chairman Ola Olukoyede said money laundering remains “rampant” in the property sector. He called for developers to adopt strict Know Your Customer (KYC) procedures even when not legally mandated. “If stolen money is used to buy…

Johannesburg, South Africa — It was a night of celebration, inspiration, and youthful brilliance as two Nigerian innovators, Bunmi Esther Olalude and Christianah Madu, took the spotlight at the prestigious Anzisha Prize Awards Gala on August 6, 2025. The duo joined two other young entrepreneurs from across Africa in receiving $10,000 each to scale their groundbreaking ventures, recognized for transforming lives within their communities. Olalude, who earned the Job Creation Award, was celebrated for generating significant employment opportunities, particularly for women and young people. Addressing the audience, she expressed her unwavering determination: “If I keep doing what I’m doing, I…

Los Angeles, California — For twin brothers Joel and Jeffrey Ezugwu, moving from Nigeria to Los Angeles at age 14 came with a cultural gap they didn’t expect — the absence of a central platform for African television content. “Telemundo serves the Latino community, BET serves Black Americans, but for Africans, there’s nothing,” says Jeff. Now 30, the brothers are determined to change that. This summer, they launched Zugu TV, a streaming platform delivering live broadcasts from Nigeria, including sports, entertainment, and cultural programming. Their goal: to reconnect Nigerians abroad with the culture they grew up in — and introduce…

Abuja, Nigeria — Africa’s future is not just defined by its potential — it is being propelled by momentum. With one of the world’s youngest populations, vast natural resources, rising digital connectivity, and an innovation culture built on resilience, the continent is positioned to become a major driver of global growth. But for this growth to be truly transformative, it must be inclusive. That means activating one of Africa’s most underutilised yet powerful resources: the African diaspora. Beyond Sending Money: A Call for Transformational Investment Across the globe, millions of Africans abroad contribute to their home countries through remittances, entrepreneurship,…

In a bold step to deepen Nigeria’s self-reliance in medicine production, May & Baker Nigeria Plc is setting up a new manufacturing facility in Anambra State — part of an aggressive expansion plan that underscores the company’s growing influence in West Africa’s pharmaceutical market. The move, announced by Managing Director and CEO Patrick Ajah during the Association of Community Pharmacists of Nigeria’s 2025 Annual Conference in Awka, will complement the company’s existing depot operations in Onitsha. Ajah, speaking alongside Anambra State Governor Chukwuma Soludo at the company’s exhibition booth, said the new plant reinforces May & Baker’s legacy as Nigeria’s…

The National Union of Nigerian Welders (NUNIWE) has raised urgent concerns over what it describes as the growing displacement of local professionals by foreign welders, warning that the trend threatens livelihoods and deepens the nation’s unemployment crisis. Speaking at the union’s certification registration ceremony in Lagos, NUNIWE National President Comrade Peter Iniobong said the influx of workers from China, India, Indonesia, and Turkey has tilted the balance of employment against qualified Nigerians, in violation of the country’s labour quota laws. “We are not opposed to expatriates working in Nigeria — they are our global colleagues,” Iniobong said. “But we must…

Two major initiatives this month have placed entrepreneurship and skills development in the spotlight, with thought leaders and institutions challenging Nigerian professionals to embrace innovation, adaptability, and strategic thinking in a fast-changing economy. In Lagos, political economist Professor Pat Utomi described entrepreneurs as “visionaries who solve problems and fill societal gaps,” urging professionals — especially journalists — to recognise their own entrepreneurial potential. He spoke during the Seplat Energy Annual Media Training Programme, a two-day event that brought together select media practitioners from across the country for intensive sessions on business acumen, media innovation, and personal leadership. The programme, which…

The Nigerian Economic Summit Group (NESG) has underscored industrialisation as a cornerstone for driving Nigeria’s economic growth and long-term prosperity, ahead of the 31st Nigerian Economic Summit scheduled for October 6–7, 2025, in Abuja. With the subtheme “Driving Industrialisation-led Growth as a Critical Strategy for Economic Transformation”, the summit will address how Nigeria can transition from a consumption-driven economy to one rooted in production and value creation. According to Ayanyinka Ayanlowo, Acting Head of Strategic Communication and Advocacy at NESG, Nigeria’s economic potential has been hindered by deindustrialisation, overreliance on imports, and minimal value addition in key sectors. The group…

In a decisive push to energize small businesses and create a new generation of market-ready entrepreneurs, the Niger State Government has equipped 3,000 young people with essential business and financial management skills. The training, held in Minna, forms part of a broader collaboration between the state government, MasterCard Foundation, and the Enterprise Development Centre under the Transforming Nigerian Youth (TNY) initiative, first introduced in March. Special Adviser to the Governor on the Social Investment Programme, Hajiya Hauwa Bako, explained that the goal is to transform 10,000 youths — with women making up a large share — through a blend of…

The recently enacted Nigeria Tax Act 2025 has introduced sweeping reforms aimed at closing loopholes in tax evasion, with provisions that empower authorities to recover outstanding taxes from businesses even after liquidation. A key provision, Section 24, mandates that companies which cease operations must settle any outstanding tax liabilities within six months of their closure. More significantly, the law extends the tax net to cover incomes or payments received after cessation — including post-liquidation receipts — requiring disclosure to tax authorities within one month of receipt. According to the Act: “Where a trade, business, profession or vocation permanently ceases to…

The 2025 edition of the Paradigm Shift Conference, set for September 27 at the Muson Centre, Onikan, Lagos, will gather entrepreneurs, professionals, and growth-minded individuals to explore how self-discovery can unlock lasting wealth and success. Convener Dr. Stephen Enike-Matthew described the event as a transformative platform designed to challenge traditional ideas of wealth creation and replace them with values-driven, sustainable approaches. This year’s theme, “Building Organic Wealth Through Self-Discovery,” underscores the role of personal growth and self-awareness as the foundation for authentic success. “Self-awareness is not just a personal journey—it’s an economic one,” Dr. Enike-Matthew said. “When people understand their…

Nigerian music superstar David Adeleke, popularly known as Davido, has officially married his longtime partner and mother of his children, Chioma Rowland, in a grand white wedding held in Miami, Florida, USA. The glamorous ceremony took place at the prestigious Mana Wynwood Convention Center and attracted an exclusive guest list of Nigerian celebrities, top business moguls, and political heavyweights. Davido made a show-stopping entrance in a custom white Lamborghini Revuelto, which he revealed was a personal gift to himself. Chioma arrived in equal grandeur, chauffeured in a pristine white Rolls Royce, her face veiled as she walked gracefully down the…

African on-demand delivery giant, Chowdeck, has raised $9 million in Series A funding to fast-track its expansion in Nigeria and Ghana while launching a quick commerce strategy designed to make grocery and local market deliveries faster than ever. The equity round was led by Novastar Ventures, with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and other backers bringing deep sector expertise, global networks, and operational insight to help the startup scale sustainably. The funding will fuel Chowdeck’s push into more cities, shorten delivery times through dark stores and hyperlocal logistics, and expand its footprint in…