BREAKING: Nollywood Record Broken — Behind the Scenes Hits ₦2 Billion

• Funke Akindele’s latest film Behind the Scenes has now grossed over ₦2.1 billion at the Nigerian box office, making it the highest-grossing Nollywood movie of all time.
• The movie also set a new single–day earnings record on Boxing Day, pulling in ₦129.5 million in one day — another historic first for Nollywood.
• This marks Funke Akindele’s third consecutive year as the top box-office filmmaker in Africa. 

Africa’s Weakest Currencies in 2025: Why South Sudan and Ethiopia Crashed, Investor Fears Grew, and the Naira Escaped Africa’s Bottom 10

In 2025, currency weakness across Africa deepened economic hardship for millions, as sharp devaluations translated into soaring inflation, higher living costs, and reduced investor confidence. An end-of-year assessment shows that the South Sudanese pound and the Ethiopian birr emerged as Africa’s weakest currencies, each losing more than 10% of their value against the US dollar, underscoring persistent structural and macroeconomic vulnerabilities across the continent.

South Sudan’s currency collapse was largely driven by its heavy dependence on crude oil, which accounts for over 90% of foreign exchange earnings. Disruptions to oil exports following conflict in neighbouring Sudan severely reduced dollar inflows, triggering a steep depreciation of the pound. The fallout was devastating, with inflation surging to nearly 108% by September 2025, eroding purchasing power and worsening poverty.

Ethiopia’s birr also suffered a brutal year, ranking among the world’s weakest currencies alongside the Argentine peso and Turkish lira. Dollar shortages, high inflation, mounting debt pressures, and investor anxiety combined to push the birr down by over 15%, complicating economic stabilisation efforts and debt restructuring plans.

Across Africa, weak and volatile currencies continue to deter both foreign and local investment, as exchange-rate instability makes long-term business planning nearly impossible. Economies with limited export diversification, persistent inflation, and political or fiscal instability remain the most exposed to global shocks.

Notably, Nigeria’s naira was absent from Africa’s bottom 10 weakest currencies in 2025, despite its own struggles and ending the year around ₦1,445 to the dollar. Analysts say this highlights that currency strength is not determined by central bank policy alone but reflects deeper economic resilience, diversification, and stability. As Africa moves into 2026, the performance of its currencies remains a key signal of broader economic health across the continent.

Anthony Joshua set to pay Just $66 million in taxes after earning $140 million from win over Jake Paul

Anthony Joshua is set to lose a staggering portion of his earnings following his blockbuster heavyweight exhibition fight against Jake Paul in Miami, Florida. Despite reportedly earning $92 million from the contest, the British boxer faces an estimated $66 million in combined US and UK taxes, leaving him with about $74 million from his $140 million total purse.

The fight, which took place on Friday night at the Kaseya Center, saw Joshua dominate Paul before landing a decisive right hand in the sixth round that broke the YouTuber-turned-boxer’s jaw in two places, ending Paul’s unbeaten run. Joshua dropped Paul in the fourth, fifth, and sixth rounds before sealing the knockout at 1:31 of round six.

Netflix livestreamed the event. Because the bout occurred in the United States, Joshua will pay approximately $52 million in federal income tax. On top of that, he is expected to remit around $11.3 million to His Majesty’s Revenue and Customs in the UK, along with $2.8 million in National Insurance contributions. Florida’s lack of state income tax provides little relief.

By contrast, Paul will only pay US taxes, meaning he is likely to retain more of his $92 million purse than Joshua. Following the fight, Jake Paul was handed a mandatory medical suspension of at least 45 days under Florida State Athletic Commission regulations due to his knockout. Joshua will also serve a mandatory seven-day suspension.

Paul’s jaw injuries are expected to require four to six weeks to fully heal, with the suspension potentially extended depending on medical advice. The victory brings Joshua’s professional record to 29 wins in 33 fights, marking a successful comeback after his defeat to Daniel Dubois at Wembley Stadium last September. Following the win, Joshua called out fellow British heavyweight Tyson Fury, hinting at a potential showdown in 2026, while Paul suggested a challenge against Canelo Álvarez in the near future.

Nigerian Police Take Over Malami’s Azbir Hotel, Arena In Kebbi As EFCC Probes Alleged $16.9Million Abacha Loot Legal Fees Scam, Money Laundering

Nigerian police operatives have taken control of Azbir Hotel and Azbir Arena in Birnin Kebbi, Kebbi State—properties linked to former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN—amid an ongoing investigation by the Economic and Financial Crimes Commission (EFCC). The takeover follows multiple petitions accusing Malami of alleged financial improprieties, including involvement in a $16.9 million legal fees scam tied to the recovery of the Sani Abacha loot, money laundering, abuse of office, and accumulation of unexplained wealth. Court filings show that the EFCC has sought an order to remand Malami and an associate for further investigation, citing a prima facie case of corruption, criminal conspiracy, and breach of trust. Petitioners also questioned Malami’s ownership of high-value assets across Kebbi, Abuja and Kano, insisting that the scale of the properties far exceeds his legitimate earnings as a public servant.

ICPC Invites Aliko Dangote to Submit Evidence Against Ex-NMDPRA Boss Farouk Ahmed, Says Resignation Will Not Stop Corruption Probe

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has formally invited Africa’s richest man, Aliko Dangote, to present documentary evidence supporting his corruption allegations against the former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed. The anti-graft agency stressed that Ahmed’s recent resignation does not affect the ongoing investigation, which is being treated as a matter of public interest. According to ICPC sources, a special panel of seasoned investigators has been constituted to handle the probe, with Dangote or his legal representative expected to adopt the petition and submit supporting documents. Dangote has accused Ahmed of abuse of office, illicit enrichment, diversion of public funds, and spending over $7 million on the education of his four children in Switzerland—expenses he claims cannot be justified by a public servant’s earnings. The ICPC said it would follow due process, isolate issues raised in the petition, and allow Ahmed to respond, warning that both proven corruption and frivolous petitions carry severe legal consequences under the ICPC Act. @

EFCC arrests Herbalists with $3.4million, €280, 000 counterfeit notes in Osun and Lagos

Operatives of the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have uncovered huge counterfeit foreign notes to the tune of $3, 430, 000 (Three Million, Four Hundred and Thirty Thousand United States Dollars) and €280, 000 (Two Hundred and Eighty Thousand Euros) in possession of a five-member syndicate arrested for allegedly swindling one Halima Sanni the sum of N26, 550, 000 (Twenty-Six Million, Five Hundred and Fifty Thousand Naira).

The herbalists identified as Akingbola Omotayo, Adeola Funsho Ogunrinde, Yahaya Amodu, Kubratu Babalola Olaitan (female) and Familola Sunday Olaitan. were arrested on December 7 and 8, 2025 at their shrines in Osun and Lagos States respectively, following a thorough surveillance and intelligence on their fraudulent activities

A statement from the agency says investigation revealed that the suspects were allegedly defrauding unsuspecting individuals of their legitimate earnings under the pretence of providing spiritual cleansing and solutions to different ailments.

EFCC investigations also indicate that they allegedly assured their victims of their powers to conjure several currency notes which must be cleaned up by a genie through spiritual sacrifice before spending the money. They did all these by hypnotizing their victims to provide money for the sacrifice.

Other items recovered from them include two exotic cars and mobile phones.

EFCC says the suspects will be charged to court as soon as investigations are concluded.

Dangote Petitions ICPC Over NMDPRA Boss Farouk Ahmed’s Alleged $7 Million Spending on Children’s Education in Switzerland

Africa’s richest man, Aliko Dangote, has petitioned the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, over alleged corruption and illicit enrichment. Dangote claims that Ahmed spent more than $7 million on the education of his four children in Switzerland—an amount he argues is inconsistent with the earnings of a career public servant. The petition accuses Ahmed of abuse of office, diversion of public funds, and breach of the Code of Conduct for public officers, while the House of Representatives has summoned both parties amid escalating tensions in Nigeria’s downstream petroleum sector.

Ex-AGF Malami Faces $16.9m Abacha Loot Probe, Unexplained Multi-Billion Naira Assets — EFCC

The Economic and Financial Crimes Commission (EFCC) has accused former Attorney-General of the Federation, Abubakar Malami, SAN, of involvement in an alleged $16.9 million legal fees scam linked to the recovery of the Sani Abacha loot. Multiple petitions claim Malami authorised unnecessary payments to associates for work allegedly already completed by foreign lawyers. Beyond the Abacha loot allegations, the EFCC is probing Malami’s ownership of high-value assets—including Azbir Hotel, Rayhan University, rice mills, schools, and properties in Abuja, Kano and Kebbi—said to be disproportionate to his legitimate earnings. The anti-graft agency has asked a court to remand Malami and an associate, citing fears of flight risk and witness intimidation.

New Nigeria Tax Law 2026: What Every Salary Earner Must Know Before January

Nigeria’s new Tax Act 2025 will take effect on January 1, 2026, introducing major changes for salary earners, freelancers, and mixed-income workers. The reform expands the tax base, clarifies taxable income, and sets new rules for deductions. Workers earning the national minimum wage (₦800,000 yearly or less) and military personnel are exempt. Taxable income now includes salaries, bonuses, allowances, and certain benefits-in-kind such as housing and cars.
The Act provides clearer deductions for both employees and freelancers, including pension, NHF, insurance, and business expenses for self-employed individuals. Taxes will be applied progressively across income bands, and individuals with both salary and business income must consolidate all earnings before taxation. Experts say the reform aims to simplify compliance, encourage proper record-keeping, and ensure fairness across income levels.
With the new rules, salary earners must verify payroll deductions, while freelancers should maintain proper financial records to avoid penalties. The government has also provided digital platforms to make tax payment easier nationwide.

Nigeria Earns $62 Million from Airline Ticket Taxes in 2024 — IATA

Newly released data from the International Air Transport Association (IATA) shows that Nigeria generated $62 million from airline ticket taxes in 2024. The country’s earnings are part of the global $60.3 billion ticket-tax revenue recorded worldwide, and of the broader $1.97 billion collected across Africa during the period.

“I Make My Money In Both Dollars And Naira, I Earn ₦5m Monthly But Made ₦18m After I Went Viral,” Baddie who removed her Ribs reveals

A social media influencer popularly known for surgically removing her ribs has revealed details of her income during a recent livestream interview with comedian and content creator, Carter Efe.

Speaking during the session, the lady said, “I make my money in both dollars and naira, and I usually earn 5 million naira monthly. But last month, I made 18 million because I went viral.”

She further explained how she earns her income, adding, “I work on All Access Fans where people get to pay to watch me.”

The revelation has since sparked massive reactions across social media platforms, with many users expressing shock at both her earnings and the nature of her work.

UK Doctors Begin Five-Day Strike Over Pay and Training Posts.

Thousands of doctors in England began a five-day strike on Friday, marking the 13th walkout by medics since March 2023. 

The action started at 0700 GMT and involves resident doctors—those below consultant level—who make up half of the hospital medical workforce.

The Labour government’s health minister, Wes Streeting, criticised the strike, accusing the British Medical Association (BMA) of “choosing confrontation over care.” 

Writing in the Daily Telegraph, he said, “This strike isn’t about fairness any more. It’s about political posturing.” He insisted the government would not shift on pay, noting “a 28.9 per cent pay rise over the last three years and the highest pay award across the entire public sector in the last two.”

But the BMA maintains that doctors still need a 26 percent pay increase to restore earnings to their real value from two decades ago. 

The union is also calling for more training posts, warning that demand wildly exceeds supply. In some cases, more than 30,000 doctors are competing for only 10,000 training places required to progress toward consultant roles.

The shortage is leaving many doctors without permanent positions despite years of training. 

The strike comes as the UK continues to face a prolonged cost-of-living crisis that has triggered widespread industrial action. Over the past three and a half years, teachers, nurses, ambulance workers, lawyers, train workers, and border staff have all staged walkouts.

"Ponmo consumption costs Nigeria’s leather industry $5bn" — FG cries out, warns citizens against consumption.

The Federal Government has raised fresh concerns over the widespread consumption of hides and skins, popularly known as ponmo, warning that the practice is harming Nigeria’s multi-billion-dollar leather industry.

Director-General of the Raw Materials Research and Development Council, Prof. Nnanyelugo Ikemounso, issued the warning on Thursday during the National Campaign Against the Consumption of Ponmo in Abuja.

He explained that diverting hides and skins for food deprives local manufacturers of essential raw materials needed to sustain and grow the leather sector. 

According to him, the Nigerian leather goods market was valued at $2.79 billion in 2024 and is projected to reach $4.96 billion by 2033, but this growth could be derailed if ponmo consumption continues unchecked.

“From an economic and industrial standpoint, cowhides are one of Nigeria’s most valuable raw materials.

Our nation possesses a vibrant leather industry with enormous potential for job creation, foreign exchange earnings, and contributions to GDP,” he said.

Prof. Ikemounso added: “Sadly, the continuous diversion of hides for ponmo consumption denies our industries access to quality raw materials, weakens our tanning and leather manufacturing sector, and diminishes Nigeria’s competitiveness in the global leather market.”

He noted that the global leather value chain is valued between $420 billion and $1 trillion, stressing that with the right policies, infrastructure, and access to raw materials, Nigeria can significantly expand its share.

Ikemounso clarified that the campaign is not targeted at cultural or dietary practices but aims to ensure hides and skins are channelled into more productive industrial use for national economic benefit.

I want to go back to school to manage my career better – Portable.

Controversial Nigerian singer, Habeeb Okikiola, popularly known as Portable, says he is preparing to return to school: this time, to gain deeper control over his music career and business operations.

The Zazu crooner noted that while he already holds an OND from Kwara State Polytechnic, he now feels the need to further his education to properly understand the business side of the industry.

He explained that his goal is to ensure his record label and music platforms are well managed, rather than depending solely on others for guidance.

'How can I raise N474m? But everyday is torture', cries Amirah, acid attack victim

“Even though I already have an OND from Kwara State Polytechnic, I still want to further my education so I can understand my music royalties and business deals better, especially for my record label, Zeh Nation.”

According to Portable, going back to school will help him manage his career and earnings correctly.

He stressed that the move is not just about acquiring another certificate, but about gaining the skills needed to run his music empire like a seasoned entrepreneur.

Cristiano Ronaldo leapfrogs Boniface, Osimhen, Messi, and others to become football’s first billionaire after mega Al-Nassr deal

Cristiano Ronaldo has officially become football’s first-ever billionaire, with his net worth now estimated at a staggering £1.04 billion, according to financial analysts at Bloomberg.

The 40-year-old Al-Nassr forward reached the milestone after his career earnings, endorsement deals, and investments were evaluated and adjusted for tax rates and market performance. Bloomberg reported that Ronaldo’s lucrative stint in Saudi Arabia has “catapulted him to the top of the global sports rich list,” making him the first footballer to appear on their Billionaires Index.

Ronaldo’s wealth now far surpasses that of his long-time rival Lionel Messi, who currently plays for Inter Miami in the United States.

A major contributor to Ronaldo’s fortune is his lifetime partnership with Nike, valued at around £745 million, alongside other endorsements with global brands like Tag Heuer, Armani, PokerStars, Samsung, Unilever, and Louis Vuitton.

The Portuguese superstar is also investing heavily in luxury real estate, including a £28 million mansion complex in his home country. He is often seen flaunting high-end jewellery and watches, among them a Franck Muller Invisible Baguette Diamonds Imperial Tourbillon worth £1.13 million.

At Al-Nassr, Ronaldo earns a jaw-dropping £167.9 million per year — roughly £300 per minute,though he recently confessed he’d prefer to play solely for Portugal. In addition to his record-breaking contract, Ronaldo reportedly holds a stake in Al-Nassr, further boosting his immense fortune.

Nigerian Govt To Begin Enforcing Tax Payment For All Income Earners Including 'Runs Girls' And Remote Workers.

From January 2026, the Nigerian government will begin enforcing a new tax policy that includes all income earners—regardless of profession or legality of the activity. This means that individuals engaged in sXx work will be required to pay taxes on their earnings.......

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policies and Reforms, emphasized that the law does not distinguish between legal and illegal sources of income. The key criterion is whether money was earned or not. If so, it's taxable.

This move is part of President Bola Tinubu’s broader effort to expand Nigeria’s tax base and stabilize the economy.
The policy also applies to social media influencers and Nigerians working remotely for foreign companies, especially those earning in foreign currencies.

Court strikes out Saraki’s suit for protection against EFCC, ICPC, others.

The Federal High Court in Abuja, on Tuesday, struck out two separate suits filed by former Senate President, Bukola Saraki, to seek court protection against the plan by EFCC to probe him.

Justice Mohammed Umar struck out the two cases following a notice of discontinuance of the suits sighted in the court record and after no lawyer appeared for parties at the resumed hearing.

The former Senate president had filed the suits following the EFCC’s decision in 2019 to probe Saraki’s earnings between 2003 and 2011 when he was governor of Kwara.

The anti-graft commission was reported to have seized some of his houses in the Ikoyi area of Lagos then.

However, Saraki, on May 10, 2019, filed the two separate suits, marked: FHC/ABJ/CS/507/2019 and FHC/ABJ/CS/508/2019, before retired Justice Taiwo Taiwo to challenge the action of the EFCC.

The ex-Senate president named the Attorney-General of the Federation (AGF), Inspector-General (I-G) of Police and State Security Service (SSS) are 1st to 3rd defendants.

Others are EFCC, Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Code of Conduct Bureau (CCB) as 4th to 6th respondents respectively.

Justice Taiwo, who was the presiding judge then, had ruled on an ex-parte application filed along with the substantive suits.

Nigerian football legend, Austin “Jay-Jay” Okocha, has shared insights into how he managed his finances during his playing career, stressing the importance of discipline and structure.

Speaking on a podcast, Okocha explained that his contract earnings were strictly reserved for investments. According to him, his salary from clubs was never for luxury spending.

“My contract money is for investment. So, the contract? It’s investment fully,” he said.

The former Super Eagles captain revealed that he relied on match bonuses for daily living expenses and endorsements for leisure. “Match bonuses are enough for you to live. You have endorsements, it’s enough for you to buy toys—those nice cars, nice watches, travel with your wife,” Okocha noted.

He added that the key was maintaining balance and knowing when to cut back. “It’s all about putting a structure in place. And if you’re not winning enough matches, then you backpedal a bit. It’s not every month that you go shopping,” he advised.

‘Wrong Timing,’ Joe Abah Faults Proposed Pay Rise For Politicians

Former Bureau of Public Enterprises DG, Joe Abah, has criticised the planned review of salaries for political office holders, describing the move as ill-timed and insensitive.

Speaking on Sunrise Daily, Abah said the government had not shown fiscal discipline, citing Nigeria’s largest-ever cabinet and the proliferation of agencies. He argued that announcing pay increases for politicians amid economic hardship and a new ₦70,000 minimum wage sends the wrong signal.

He also highlighted distortions in the public sector pay system, stressing that they must be addressed before any salary adjustments.

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) recently said politicians’ earnings, unchanged since 2008, were “inadequate and outdated.” But the Nigeria Labour Congress (NLC) rejected the proposal, calling it insensitive and warning it could worsen poverty and inequality.

#Nigeria #Politics #JoeAbah #NLC

Any of My Personal Assistants claiming to earn less than N1 Million is lying — Gov Eno.

Governor Umo Eno has faulted political aides who downplay their earnings, insisting that his Personal Assistants (PAs), who occupy the lowest rung among his appointees, receive a minimum of ₦1 million monthly.

Speaking at a Town Square Meeting with residents of Ikono and Ini Federal Constituency in Ibiaku Ntok Okpo, the governor elevated his PA on Protocol, Blessed Essien, to Special Assistant (SA) on Public Works after he donated a borehole project to his community.

“As I arrived here, they gave me a brochure about a PA who, from his pay, built and reticulated a borehole for his village. That is impact. Yet some appointees still mislead their people, claiming the government has done nothing.

Some even dismiss the position of PA as ‘ordinary,’ but a PA to the governor of a state cannot be ordinary,” Eno said. He added, “Hear me well, no PA earns less than ₦1 million. Yet when they talk, they call it a stipend.

₦1 million is not a stipend; it is serious money. I have directed the Secretary to the State Government to compile the names of all political appointees by local government area, and we will publish them in the newspaper.”

Governor Eno also challenged constituents to demand accountability from their representatives, urging them to “call your PAs, SAs, SSAs, Commissioners and ask, what have you done?”