Author: Gift Ifeanyi

Lagos, Nigeria – In a landmark cross-border move, DisrupTech Ventures, a top Egyptian early-stage fintech fund, has made its first pan-African investment by backing Nigeria’s fast-rising Agri-Tech company, Winich Farms, in its Pre-Series A round. The funding marks a significant milestone in Winich’s growth journey as it works to transform market access and financial inclusion for Nigeria’s smallholder farmers. Revolutionizing Nigeria’s Agricultural Landscape Winich Farms, headquartered in Lagos, is tackling two of the sector’s most persistent challenges: market fragmentation and limited access to finance. Despite agriculture contributing 21% of Nigeria’s GDP and employing the majority of the workforce, smallholder farmers—who…

In a world shifting steadily toward multipolarity, where global power is dispersed rather than concentrated, Nigeria is no longer content to observe from the sidelines. Africa’s most populous nation is stepping into the arena with purpose and confidence—asserting its place in a redefined global order. At the helm of this diplomatic evolution is Ambassador Yusuf Maitama Tuggar, Nigeria’s Minister of Foreign Affairs, whose recent engagements signal a transformative foreign policy direction rooted in ambition, strategic partnerships, and global equity. Brazil Visit: A Diplomatic Statement, Not a Courtesy Call Ambassador Tuggar’s diplomatic mission to Brazil in April 2025 was far more…

Prominent businessman and socialite Ibrahim Dende Egungbohun, popularly known as IBD Dende, continues to exemplify the Islamic virtue of Zakat—a Quranic principle that emphasizes charitable giving as both a moral duty and a spiritual obligation. This deep-rooted belief has been the driving force behind his enduring legacy of generosity and community service. A Life Anchored in Charity and Faith Guided by the teachings of the Quran, IBD Dende has long demonstrated a commitment to uplifting the less privileged. His philanthropic efforts have transformed countless lives, offering hope and tangible support to those in need. His approach goes beyond mere giving—it…

On Friday, June 13, 2025, the Economic and Financial Crimes Commission (EFCC) arraigned two top executives of SunTrust Bank—Halima Buba, the Managing Director/CEO, and Innocent Mbagwu, the Executive Director/Chief Compliance Officer—before Justice Emeka Nwite of the Federal High Court in Abuja. They are being prosecuted on a six-count charge involving alleged money laundering totaling $12 million. According to the charges, Buba and Mbagwu allegedly facilitated large-scale cash transactions outside of financial institutions in violation of the Money Laundering (Prevention and Prohibition) Act, 2022. Key Allegations: Count Two alleges that on March 10, 2025, in Abuja, the defendants aided a $3…

The Nigerian Exchange Limited (NGX) recorded a major boost on Friday, posting a ₦486 billion gain in a single trading day to cap the week on a strong note. This upward movement was primarily fueled by significant gains in key stocks, including May & Baker, Infinity Trust, Stanbic IBTC, MRS, and LivingTrust Mortgage Bank. The market capitalization climbed from ₦72.302 trillion on Wednesday to ₦72.788 trillion on Friday, representing a 0.67% increase. Similarly, the All-Share Index (ASI) rose by 770.43 points to close at 115,429.54, up from 114,659.11. Top Gainers: May & Baker: +10% to close at ₦15.40 Infinity Trust…

Nigeria has received international recognition for making substantial progress in fortifying its financial system and combating illicit financial flows, as confirmed by the Financial Action Task Force (FATF) through its International Cooperation Review Group (ICRG). In a recent announcement, the Nigerian Financial Intelligence Unit (NFIU) revealed that the country has successfully fulfilled key components of its FATF Action Plan, enabling the FATF Africa Joint Group to schedule an on-site assessment. This critical phase will validate not only the implementation of reforms but also their sustainability and political backing. The NFIU, acting as the national coordinator for the ICRG process, commended…

Dr. Mayowa Olusoji, a globally recognised author, speaker, and digital finance expert, has projected a monumental shift in Nigeria’s financial ecosystem by 2035, driven by mass adoption of digital assets, AI, and decentralized finance (DeFi). In a recent interview, Dr. Olusoji forecasted that stablecoins and central bank digital currencies (CBDCs)—such as Nigeria’s eNaira and China’s e-CNY—will account for 50% of global transactions within the next decade, citing data from the Bank for International Settlements (BIS, 2024). He emphasized that Nigeria’s early embrace of CBDCs positions it as a future regional leader—but only if the nation strengthens financial literacy to match…

The Nigerian Naira lost ground against major foreign currencies on Friday, June 13, as it depreciated by ₦11.89 or 0.77% against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), closing at ₦1,551.85/$1, down from ₦1,539.96/$1 in the previous session. This marks the first decline in the official exchange rate after a streak of relative stability. The depreciation follows the Central Bank of Nigeria’s (CBN) intervention, where it reportedly injected $580 million into the market in May to stabilize the currency amid forex inflows from exporters and international oil companies. These inflows had initially supported the Naira, but…

Nigeria’s export sector recorded a solid performance in the first quarter of 2025, reaching ₦20.598 trillion, reflecting a 2.92% increase from ₦20.01 trillion in Q4 2024 and a 7.42% rise year-on-year from ₦19.17 trillion in Q1 2024, according to the National Bureau of Statistics (NBS). Key Export Trends Crude petroleum remained the country’s top export, generating ₦12.96 trillion, which accounted for 62.89% of total exports. Natural gas followed at ₦1.93 trillion, while other petroleum gases added ₦1.78 trillion. Nigeria’s export relationships with India, Italy, and the Netherlands remained strong, reaffirming the strategic importance of these markets. Top 10 Export Destinations…

Former Anambra State Governor and 2023 Labour Party presidential candidate, Peter Obi, has called on Nigeria’s political elites to actively support homegrown businesses, stressing that such enterprises are vital to the nation’s economic progress and job creation. Obi made the statement via a post on X following his recent experience aboard Air Peace’s Lagos–London flight. Commending the airline for its professionalism, consistency, and competence, he emphasized the need for deliberate support and protection of indigenous companies operating in challenging economic conditions. “I use this opportunity to appeal to Nigerian elites and political leaders to give strong and deliberate support to…

In a bold move to strengthen food security and drive economic growth, Dangote Fertiliser Limited, a subsidiary of the Dangote Industries Limited, has launched a nationwide agricultural empowerment programme that has already trained over one million farmers across Nigeria. This comprehensive initiative is part of the company’s larger commitment to supporting small-scale agriculture, enhancing productivity, and creating employment opportunities. The training program, which incorporates field demonstrations, soil sampling, and modern fertiliser application techniques, is designed to equip farmers with the practical knowledge and tools they need to increase crop yields and adopt sustainable farming practices. Speaking at the 2025 Nasarawa…

A United Kingdom-based railway infrastructure engineer, Bosun Odunlami, has called on the Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, to engage Nigerian railway professionals in the diaspora to transform the nation’s rail sector. Speaking on Monday, Odunlami emphasized the wealth of Nigerian talent contributing to the advancement of London’s transport system and highlighted the potential for similar achievements back home—if the right framework is put in place. Odunlami, a key member of the Balfour Beatty Rails project team working on the Metronet/BCV rail reconstruction on London’s Victoria and Central Lines, revealed that a significant number of…

Former Vice President Prof. Yemi Osinbajo has made a clarion call for greater civic engagement among Nigerians, particularly youth and Christians, emphasizing that active participation in politics is vital to shaping the country’s leadership and societal development. Speaking at the 2nd Annual Daniel Taiwo Odukoya Memorial Lecture held at The Fountain of Life Church in Lagos, Osinbajo used his keynote address to challenge apathy toward politics. Themed “The Evolving Relationship Between the Church and the Government in Nigeria,” the event brought together thought leaders, clergy, policymakers, and aspiring young change-makers to examine the dynamic role of faith in governance. “Politics…

A recent internal memo from Nigeria’s Ministry of Agriculture has stirred nationwide debate after urging staff to engage in prayer and fasting to support the country’s battle for food security. The directive, which encouraged employees to observe a solemn prayer session and fast over three consecutive Mondays, has drawn sharp reactions from citizens already grappling with soaring food prices. While the ministry has since clarified that the initiative is not a formal policy response to the food crisis, it has done little to ease public concern. In a statement released over the weekend, officials emphasized that the prayer call was…

In celebration of Nigeria’s 2025 Democracy Day, Rite Foods Limited has reaffirmed its dedication to the country’s economic progress and the enduring spirit of its people. The company’s managing director and CEO, Seleem Adegunwa, emphasized the importance of recognizing national milestones and the role of businesses in sustaining democratic and economic development. “As a proudly Nigerian company, we believe in celebrating the wins of our country, and Democracy Day is one of them,” Adegunwa said, underscoring the company’s alignment with the values of resilience, innovation, and national pride. According to him, Rite Foods remains committed to not only delivering quality…

In a bold initiative to strengthen leadership among Nigeria’s youth, the Guardians of the Nation International (GOTNI) has entered a strategic partnership with the National Youth Service Corps (NYSC) to establish leadership development centres nationwide. The move, formalized through a Memorandum of Understanding (MoU), aims to equip young Nigerians with the ethical foundation and leadership skills needed to navigate and transform a nation facing numerous socio-economic challenges. The announcement was made in Abuja by GOTNI Founder, Dr. Linus Okorie, during the official presentation of Miss Remarkable Akpan as the organisation’s new Executive Director. Dr. Okorie stressed the importance of cultivating…

In a bold response to Nigeria’s growing mental health crisis, two leading wellness organizations are launching REJUVENATE 2025 — a national wellbeing and mental health conference and roadshow set to take place from June 25 to July 19 across key locations in the country. Organized by the Recharge Life Centre and Whole Women Community, both accredited institutions recognized by international and national counseling bodies, the initiative is designed to promote emotional resilience and psychological healing — particularly among women and youth, two of the country’s most vulnerable demographics. With economic hardship and social stressors fueling emotional instability, the program seeks…

The highly anticipated third season of The Journey, Anzisha’s acclaimed YouTube documentary series, is set to spotlight 30 of Africa’s youngest entrepreneurs—offering an unfiltered look into the passion, persistence, and innovation driving small businesses across the continent. Aged between 15 and 22, these young visionaries hail from countries including Nigeria, Zimbabwe, Egypt, Ghana, Uganda, Benin, Zambia, Madagascar, DR Congo, and Senegal. Their ventures span diverse industries—from agriculture and logistics to tech, food processing, and personal care—highlighting the next generation of African enterprise. This season, culminating in a high-stakes pitch competition in Johannesburg, will award $40,000 in prizes to the most…

At just 19, Nigerian-born Ifeoluwa Afolayan has claimed first prize at WE Innovate 2025, the prestigious women-led venture competition hosted by Imperial College London. A Master’s student of Design Engineering at Imperial College and the Royal College of Arts, Ifeoluwa stood out for her pioneering work in sustainable agriculture. Her winning venture, Aeropod (by Muju Earth), is a smart soil-enrichment capsule designed to respond to heavy rainfall by aerating and revitalizing the soil—offering a climate-proof alternative to conventional, intensive farming methods. The project earned her team a €15,000 grant to advance their mission of revolutionizing farming through innovation. Ifeoluwa, together…

Aliko Dangote, Africa’s foremost industrialist, is stepping down as Chairman of Dangote Sugar Refinery Plc, bringing to a close a 20-year era of leadership and strategic growth. His retirement will take effect on June 16, 2025, according to an official statement released by the company and signed by its secretary, Temitope Hassan. Since assuming leadership in 2005, Dangote has been instrumental in transforming the company into a powerhouse in Nigeria’s sugar industry. His tenure was marked by strategic expansion, robust corporate governance, and the launch of critical Backward Integration Projects in Adamawa, Taraba, and Nasarawa States—a move that significantly boosted…