4 Months After Tinubu’s ₦50bn Tractor Launch, Machines Remain Unused Amid Bureaucratic Delays.

Nearly four months after President Bola Tinubu launched ₦50 billion worth of tractors and farm machinery to boost food production, the equipment remains idle at the National Agricultural Seed Council (NASC) headquarters, exposing yet another case of stalled agricultural reform and bureaucratic inertia.

The President had unveiled 2,000 tractors, 2,000 disc ploughs and harrows, 1,000 ridgers, 1,200 trailers, 500 seed drills, and other implements under his Renewed Hope agricultural initiative, promising nationwide deployment to empower farmers and create jobs for youths.

“We are taking a monumental leap forward with the introduction of state-of-the-art agricultural equipment… This is a bold step towards achieving complete agricultural independence,” Tinubu had said during the launch attended by Belarusian officials.

However, months later, the Ministry of Agriculture and Food Security says it is still awaiting Presidential directives on distribution, delaying deployment ahead of the farming season. Ministry insiders told The Guardian that operations have slowed and that only the Presidency dictates the pace.

Agriculture Minister Abubakar Kyari had earlier outlined three deployment models — direct sales, leasing, and tractor service centres — aimed at giving farmers affordable access and boosting productivity. But the plan has stalled, leaving farmers burdened by high labour and input costs.

Vice President of the All Farmers Association of Nigeria (AFAN), Daniel Okafor, confirmed that farmers are still waiting for updates.

“We were very happy at the launch, but we are still waiting and monitoring the sharing formula,” he said.

Professor Simon Tuange of Joseph Sarwuan Tarka University warned that if the tractors are not deployed soon, they may miss the current farming season.
“Agriculture without mechanisation is like a vehicle without wheels,” he said, urging the government to establish maintenance workshops alongside deployment to prevent waste.

No Going Back On Strike, ASUU Tells FG.

YENAGOA – The President of the Academ­ic Staff Union of Universities (ASUU), Chris Piwuna, has re­stated that there is no going back on its planned two weeks nation­wide warning strike over some lingering issues, if the Federal Government fails to respond on or before October 13 expiry date.

The planned strike follows a two-week ultimatum issued by the union, last week, asking the Federal Government to address its unresolved issues, including the signing and implementation of the renegotiated 2009 ASUU-FGN agreement.

Speaking with newsmen during the Orientation/Lead­ership Training for Academic Staff Union, Niger Delta Univer­sity branch, Wilberforce Island, Bayelsa State, Piwuna insisted that the union has agreed on their position on a warning strike which will not change except their demands with the Federal Government are met.

He said, “The warning strike has been issued and we are not meeting to discuss that again as a union because our position has been taken, and by midnight of Monday we will embark on two weeks warning strike, after which we will meet after the ex­piration to decide when to begin an indefinite and comprehensive strike action.

“The issues still remain the same, re-negotiation of our 2009 documents is still lingering over the years, and we want Nigerians to know that we have been talking and the strike action is coming after several years of negotiations and we are not just jumping on a strike.

“We have given government enough time on this particular issue, just imagine they gave us three weeks to get back to us and never did till this moment. Ni­gerians must always look at the actions of government that has al­ways pushed us to such actions”.

On the issue of NELFUND, Pi­wuna said, “We have told govern­ment that we do not support loan in such a depressed economy. An economy where unemployment rate is high, families can’t feed, so where from where do they want them to repay the loan.

“If they truly want to give them monies, they should come out clean; where are the jobs that will enable them repay the loans, if the monies are meant to make the universities run better it should be given as a grant, not a loan.

Twist As PENGASSAN Denies Signing Dangote Truce To Suspend Strike.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has distanced itself from the federal government communique that announced the suspension of its nationwide strike against Dangote Refinery, insisting it did not sign the document.

Fresh Twist As PENGASSAN Denies Signing Dangote Truce To Suspend Strike
the union suspended its industrial action on Wednesday, October 1, after government intervention, but stressed that its concerns over the welfare of more than 800 sacked workers were not fully addressed.

Appearing on Channels Television’s The Morning Brief on Thursday, October 2, PENGASSAN President, Festus Osifo, explained that the communique presented after the negotiations was not an agreement between the parties.

“If you see that communiqué, we did not sign it. Normally, it is supposed to be signed by three parties. We did not sign because we felt that some things in it were not okay with us,” Osifo said.

He clarified that the communiqué was only a communication by the Minister of Labour and Employment, who acted as chief conciliator in the matter.

Union Insists On Workers’ Reinstatement
Osifo said the core of PENGASSAN’s demand was the reinstatement of the disengaged staff.

“The statement that Dangote made on workers sabotaging the economy was totally incorrect. If we had allowed that sabotage tag to stand, those 800 people would not be able to secure jobs in the future. That stigma would remain forever. Clearing that was a very big win,” he said.

The union leader dismissed suggestions that PENGASSAN’s fight was about check-off dues, stressing that the priority was ensuring its members could return to work and provide for their families.

“Our position is clear: take the people back to the refinery. That is all we asked for,” he insisted.

Soyinka honoured as Tinubu unveils N68bn refurbished national theatre.

In a ceremony that also marked Nigeria’s 65th Independence Anniversary, the National Arts Theatre in Iganmu was officially recommissioned on 1 October 2025 and renamed the Wole Soyinka Centre for Culture and Creative Arts, following a multi-year public–private restoration.

The restored complex, whose silhouette has been preserved while its interiors were transformed, now houses world-class performance halls, cinema spaces, exhibition galleries, an African literature library, rehearsal rooms, media and medical facilities, landscaped grounds, and direct integration with the Lagos Blue Line rail.

Olayemi Cardoso, Governor of the Central Bank of Nigeria, said the project was delivered through an extraordinary partnership between the Central Bank, the Bankers’ Committee, the Federal Government, and the Lagos State Government. He noted that the Bankers’ Committee committed approximately ₦68 billion to the project, framing the funding as a deliberate investment in the nation’s cultural future rather than a mere act of corporate social responsibility.

“This is more than a renovation; it is a rebirth,” Mr Cardoso said, adding that the centre must be protected to prevent a return to years of neglect.

Governor Babajide Sanwo-Olu of Lagos State described the reopening as a homecoming for a city that hosted FESTAC ’77. He said the state played a key role by ensuring a dedicated Blue Line stop and contributing additional land to expand the creative hub. “Today’s commissioning is only the beginning,” he said, urging that the complex become a focal point for artistic excellence and urban renewal.

President Bola Ahmed Tinubu, who performed the commissioning, urged Nigerians to speak positively about the country and to “lift Nigeria” by believing in its potential. The President also pledged to contribute to an endowment fund to guarantee maintenance, accessibility, and job creation at the centre.

Professor Wole Soyinka, who expressed mixed feelings about having his name affixed to a public monument, accepted the honour and reflected on the theatre’s storied past, from its 1976 completion and FESTAC ’77 glory to the decades of decline that preceded the restoration. “If a group of bankers got together, using some of my money also… in order to honour me, what’s wrong with that?” he joked, before urging that the centre serve future generations of artists.

Officials and cultural stakeholders lauded the project as a tangible union of culture and commerce, an effort to harness Nigeria’s creative industries for jobs, revenue, and soft power. With renewed facilities and a declared commitment to upkeep, the Wole Soyinka Centre is being positioned as a national landmark intended to keep Nigeria’s creative voice on the global stage.

Don't Fight A War You Cannot Win; Dangote Can Decide Not To Sell One Litre Of Petrol To Nigeria -Ife.

Professor Ken Ife, an economist, has argued that Dangote Group CEO Aliko Dangote holds all the cards in his conflict with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), warning that ordinary Nigerians not the billionaire businessman will suffer from the union's strike action.

Speaking during an interview with Channels TV, Professor Ife advised the union against engaging in an unwinnable battle. "Don't fight a war you cannot win. You can't stop that company; it is in the free trade zone. Dangote can decide not to sell one litre of petrol to Nigeria. You cannot stop that. But if he decides he's going to do it, he's going to do it. So, let's be real. He has nothing to lose," the economist stated.

Professor Ife criticized PENGASSAN for embarking on strike action over the dismissal of 800 workers, arguing that the union is prioritizing a small number of employees over the entire nation. "You don't equate 800 workers to 230 million Nigerians. You don't equate 800 workers to 4.2 million employees in this country," he said.

The economist calculated the massive economic impact of the strike compared to the salaries of the affected workers. "And you don't allow this country to bleed 14.5 billion naira every day for salaries of workers that is not up to anything. If the 800 workers are receiving 100,000 naira a month, that will come to only 80 million naira. But look at what you are going to lose in a day," Professor Ife explained.

He warned that Nigeria is ill-prepared to handle such economic losses. Professor Ife also cautioned that the union's actions could ultimately harm the very workers they claim to protect. "You are destroying the jobs of these workers because you are closing the door for any further negotiation. And then what happens? You're not even going to allow other people to enter this space," he asserted.

FIRS pledges trust fund, jobs for families of deceased staff.

The Federal Inland Revenue Service (FIRS) has pledged to establish a special trust fund, guarantee employment, and provide full educational sponsorship for the children of four staff members who lost their lives in the recent Afriland Towers fire in Lagos.

Speaking during a memorial service in honour of the deceased colleagues in Lagos yesterday, the Executive Chairman of FIRS, Dr. Zacch Adedeji, announced that the Service would take full responsibility for the upbringing and welfare of the children left behind. He explained that the commitment includes covering all school-related expenses up to university level, encompassing both first and second degrees.

“In FIRS, we do not see ourselves as an institution; we are family. And in every family, when one is lost, we all feel emptiness. To the families, I want to say this: we believe in you, we stand with you, and we will continue to walk with you. Please be confident in knowing that you are not alone,” Adedeji said.

The Chairman further disclosed that a trust fund would be formally ratified to guarantee continuity beyond his tenure, ensuring that the commitment remains binding on the Service. He stressed that the families would have full control of the fund, demonstrating the Service’s intention to provide both immediate and long-term support.

Over N2trn Lost to Dubious Subsidy Claims Under Former President Goodluck Jonathan’s Administration — Businessman Femi Otedola

Billionaire businessman, Femi Otedola, has alleged that more than ₦2 trillion was siphoned through questionable petrol subsidy claims during the administration of former President Goodluck Jonathan.

In a statement on Monday, Otedola backed the Dangote Petroleum Refinery in its ongoing dispute with the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN).

DAPPMAN had accused the refinery of destabilizing the market with its fuel price cuts, but Dangote countered, claiming the group demanded an annual subsidy of ₦1.5 trillion to enable members match its depot prices.

Otedola, however, maintained that the subsidy regime was deliberately structured to benefit depot owners, making DAPPMAN members the biggest beneficiaries.

“I warned President Jonathan at the time that he was being misled. The system encouraged rent-seeking and corruption. Over ₦2 trillion was siphoned through dubious claims tied to depot licences,” he said.

He further dismissed the notion that depots significantly create jobs, noting that a typical facility employs only a handful of people, unlike filling stations that hire dozens.

Otedola urged DAPPMAN members to shift their focus to retail operations rather than holding on to depots designed for an import-driven fuel economy, which, according to him, has become redundant with Nigeria now refining locally.

He likened the development to the transformation of Nigeria’s cement industry, where reliance on import terminals gave way to domestic production.

Former President Goodluck Jonathan has said that free and fair elections remain the best way to remove leaders who fail to deliver on their mandates.

Speaking on Wednesday at the 2025 Goodluck Jonathan Foundation (GJF) Democracy Dialogue in Accra, Ghana, Jonathan warned that the failure of democracy to meet citizens’ expectations could fuel desperation and open the door to authoritarian rule.

He stressed that Africa’s democracy is under strain, with electoral manipulation posing one of its greatest threats. According to him, some leaders exploit flawed systems to stay in power against the people’s will.

“If we had credible elections, leaders who fail to perform would be voted out,” he said. “But in many cases, the process is manipulated to perpetuate them in office.”

Jonathan emphasized that Africans desire freedom, fair representation, quality education, security, healthcare, jobs, and dignity, adding that when these needs are neglected, citizens lose faith in governance.

Trump Raises H-1B Visa Fee to $100,000, Launches New “Gold Card” Residency Program

US President Donald Trump has signed an executive order sharply increasing the H-1B visa application fee to $100,000, a move expected to significantly impact America’s technology sector.

The order coincides with the introduction of a new “gold card” residency program, which offers fast-tracked US residency for $1 million, or $2 million if paid via corporate sponsorship.

“The main thing is, we’re going to have great people coming in, and they’re going to be paying,” Trump said Friday in the Oval Office as he signed the measures.

The H-1B visa program enables US companies to employ foreign professionals with specialized skills—including scientists, engineers, and programmers—for an initial three-year period, renewable up to six years. Each year, 85,000 slots are available through a lottery system, with Indian applicants historically receiving about 75% of the visas. These visas are critical for US tech firms seeking to fill skill gaps.

Industry leaders, including Elon Musk, have previously warned that restricting H-1B visas could hurt the tech industry, citing the shortage of domestic talent in key sectors.

Commerce Secretary Howard Lutnick, present at the signing, stated, “All the big companies are on board.”

During his first term, Trump attempted to limit which jobs qualified for H-1B sponsorship, but courts blocked those efforts. The new order represents a continuation of his broader immigration restrictions in his second term.

Under the new rules:

The $100,000 fee applies to new H-1B applicants starting Sunday.

The Secretary of Homeland Security can grant exemptions for certain individuals, companies, or industries.

The order is set to remain in effect for one year, with potential extensions by the President.


Demand for H-1B visas has surged in recent years, reaching a record high in 2022 under President Joe Biden. In 2024, about 400,000 visas were approved, primarily renewals.

Trump emphasized that the gold card program will attract wealthy investors, saying, “I think it’s going to be tremendously successful.”

Previously, Nigeria and several other African nations were affected by a 15% import tariff following a separate executive order signed by Trump.

Trump Administration Imposes $100K Fee on H-1B Visa Applications.

The Trump administration has announced a new $100,000 fee for H-1B visa applications, significantly raising costs for companies that rely on the program to recruit highly skilled foreign workers.

President Donald Trump signed an executive order late Friday requiring the additional payment and barring H-1B holders from entering the U.S. without it. “We’re going to keep productive people in our country, and companies are prepared to pay for that — and they’re happy about it,” Trump said.

The new fee will hit major employers such as Amazon, IBM, Microsoft, and Google, all of which have long depended on the program. H-1B visas already cost between $1,700 and $4,500 depending on processing time, costs usually borne by employers.

Supporters of the move argue it will ensure only highly skilled workers enter the U.S. while protecting American jobs. A White House aide said the change would “guarantee that companies hire truly extraordinary people who cannot be easily replaced by American workers.”

However, critics warn the policy could backfire. Stuart Anderson, executive director of the National Foundation for American Policy, cautioned that higher costs may push companies to move jobs abroad, especially in research and development. He also noted the move could discourage international students from enrolling in U.S. universities if post-graduation work opportunities shrink.

H-1B visas, awarded by lottery, require at least a bachelor’s degree and a job offer from a U.S. employer. In 2024, Amazon was the largest recipient, securing over 10,000 visas, followed by Tata Consultancy, Microsoft, Apple, and Google. The most common job type for visa holders last year was software development.

Bloomberg reported that Trump will also direct the Labor Secretary to revise wage rules for the program. Currently, employers must pay either the prevailing wage or the actual wage offered to similarly qualified workers, whichever is higher.

Dangote signs landmark agreement with Kogi Community, promises jobs, infrastructure.

There was widespread celebration on Wednesday as Dangote Cement Plc, Obajana Plant, formalized a five-year Community Development Agreement (CDA) with the Jakura community in Kogi State.

The historic pact aims to deliver critical social infrastructure and economic opportunities, marking a new chapter in the relationship between the cement company and its host community.

The agreement, according to Dangote Cement, reflects a broader commitment to inclusive growth and sustainable development in its operational areas.

At the signing event, the Plant Director, represented by Chief General Manager, Production, John Gwong, emphasized the company’s adherence to the legal framework outlined in the Minerals and Mining Act of 2007 and its 2011 regulations.

He affirmed Dangote’s philosophy of “good neighbourliness,” highlighting the company’s dedication to fostering harmonious relations with its host communities.

A dedicated structure will oversee the execution of the CDA, with Gwong urging collaboration from government stakeholders to ensure its success. Mr. Wakeel Olayiwola, Group Head of Social Performance, assured immediate commencement of the agreed projects, despite the year nearing its end.

He emphasized that the process followed the 2023 amendment to the CDA development guidelines.

Reinforcing the company’s role as a socially responsible entity, Mr. James Adenuga, Group Head, Health, Safety, Social, Environment, and Sustainability, stated that the CDA strengthens Dangote’s social licence to operate.

Our Truck Drivers Earn More Than Nigerian Graduates — Billionaire Aliko Dangote.

Aliko Dangote, President and Chief Executive of Dangote Group, has disclosed that drivers employed by his company earn higher salaries than many Nigerian graduates.

In a video shared on TVC’s X handle on Tuesday, Dangote addressed allegations by the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), which recently accused him and Sayyu Dantata of anti-union practices and attempts to monopolise Nigeria’s downstream oil and gas distribution sector. The union had also threatened a nationwide strike from September 8 in protest against the deployment of Compressed Natural Gas (CNG) trucks by Dangote Refinery.

Dangote dismissed fears of job losses, stressing that the newly launched trucks would instead create about 24,000 jobs, with each vehicle requiring six personnel.

He added that drivers under his company earn nearly three to four times the national minimum wage, with some making more than graduates.

He further explained that after five years of accident-free service, drivers become eligible for housing loans.

“Our drivers earn more than graduates. If you check their monthly pay, it’s almost four times the minimum wage,” Dangote said.

Yahoo boys worsening visa restrictions for Nigerians – EFCC.

The Economic and Financial Crimes Commission has warned that the rising cases of internet fraud are worsening visa restrictions for innocent Nigerians abroad.

The EFCC Chairman, Ola Olukoyede, said fraudulent practices not only destroy the future of those involved but also tarnish Nigeria’s international image, resulting in stricter travel conditions for law-abiding citizens.

Olukoyede, who was represented by the Chief Superintendent of the EFCC, CSE Coker Oyegunle, gave the charge on Monday at an event in Port Harcourt, Rivers State, organised by the Coalition of Nigerian Youth on Security and Safety Affairs.

His statement was contained in a release issued by the commission on Tuesday.

“The EFCC boss highlighted that internet fraud, money laundering, and economic sabotage cost Nigeria billions of naira annually, undermining national growth and depriving citizens of infrastructure, jobs, and opportunities.

“Beyond the economic damage, he pointed out that the crimes erode Nigeria’s international image and subject innocent Nigerians to stricter visa restrictions abroad,” the statement read.

He urged young people in the South-South and across the country to channel their energy into productive ventures such as digital innovation, entrepreneurship, agriculture, and the creative industry.

He was quoted as saying, “Fraud is not success; it is a trap. Easy come, easy go. Many who follow the path of ‘yahoo-yahoo’ always end up losing their freedom, reputation, and future. The law is catching up with them and digital footprints never disappear. Don’t destroy your tomorrow with shortcuts today.”

Tinubu hailed over response to $250m estate demolition.

Nigerians in the diaspora have commended President Bola Ahmed Tinubu and the Minister of Works, David Umahi, for responding to the demolition of the $250 million WIN HOMES Estates along the Lagos-Calabar coal highway construction site.

In a statement jointly signed by Engr Stella Okengwu, Dr Kimberly Stark, Faduri Oluwadare Joseph, Mr Ovie Aweghogho, and Oluwaseun Bamigbola Bovi, on behalf of Nigerians in the diaspora, they said they are happy the federal government has initiated communication channels over the estate demolition.

“The Federal Government of Nigeria initiates a formal communication channel, led by the Honourable Minister of Works, Engineer David Umahi, to engage with diaspora investors impacted by the Lagos-Calabar Coastal Highway realignment.

“Facilitated by the Coalition of Civil Society of Nigeria, this marks a defining moment for dialogue, restoration, and reconciliation in Nigeria’s investment landscape.

“We commend President Bola Ahmed Tinubu and Minister Umahi for their courage and statesmanship in responding to the cries for justice following the demolition of the $250 million Win Homes Estates project in Okun Ajah on October 5, 2024. This gesture signals to the global community that Nigeria is committed to protecting foreign direct investment, particularly from its 50 million-strong diaspora, who remain steadfast development partners.

“The WIN HOMES Estates, a beacon of inclusive development, united Nigerians across ethnicities Yoruba, Igbo, Hausa, Ijaw, Efik, and others in a shared vision of progress. It created jobs for hundreds of unemployed youth, boosted local businesses, and sourced materials domestically, fostering hope among diaspora investors eager to rebuild Nigeria. However, its demolition without notice, dialogue, or compensation shattered structures and trust, sending shockwaves through global Nigerian communities and contributing to a 30% drop in diaspora real estate investments.

“Let us be clear: our year-long, peaceful, and legal advocacy has never been anti-government. Many of us supported this administration, believing in its promise of Renewed Hope. Our call is for fairness, justice, and the rule of law. We respectfully urge the government to evaluate the demolished properties properly, ensure adequate compensation for WIN HOMES and its investors, and establish a Diaspora Investment Protection Desk to safeguard future projects of this magnitude. Such measures will help reverse decades of capital flight and restore investor confidence.

Petrol Subsidy Removal Rescued Nigeria From Bankruptcy – Emir of Kano Muhammad Sanusi.

Muhammad Sanusi II, Emir of Kano and former Central Bank of Nigeria (CBN) governor, says scrapping petrol subsidy saved Nigeria from imminent bankruptcy.

Speaking at the second edition of the Kano International Poetry Festival on Saturday, Sanusi described the subsidy system as wasteful and unsustainable, noting that it drained government finances through oil price fluctuations, exchange rate pressures, transport costs, and refining expenses.

“Subsidy meant if petrol was N100, Nigerians paid N70 and government covered N30,” he explained. “But government went further, fixing petrol at N65 per litre regardless of global oil prices. Who paid the difference? Government. And that was always going to bankrupt Nigeria.”

He faulted past governments for neglecting local refineries while spending billions on subsidies that enriched foreign refineries and cost Nigerians jobs. According to him, those funds should have been invested in production rather than consumption.

The emir recalled warning as CBN governor in 2012 that the policy was like “a man running towards a ditch.” He said Nigeria eventually began borrowing to pay subsidies and later to service debts, making the arrangement unsustainable.

Sanusi stressed that subsidy removal should be seen not just as an economic reform but also as a chance to rebuild a more resilient and self-reliant nation.

Dangote Refinery Cuts Petrol Price, To Begin Direct Supply Nationwide

The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) and will begin direct distribution of the product to filling stations across Nigeria starting Monday, September 15, 2025.

In a statement on Thursday, the refinery said the gantry price has been reduced to N820 per litre, with pump prices varying across key states. Lagos and other South-West states will retail at N841 per litre, while Abuja, Rivers, Delta, Edo, and Kwara will sell at N851 per litre.

“The first phase of the deployment will cover the Federal Capital Territory, Lagos, Kwara, Delta, Edo, Rivers, and South-West states, with nationwide expansion planned as more trucks are delivered,” the company stated.

The refinery noted that the use of CNG-powered transportation in the supply chain will save Nigeria over N1.8 trillion annually, cut distribution costs, and help ease inflationary pressures. It added that the initiative will directly benefit more than 42 million MSMEs by lowering energy costs.

The company also disclosed that it is investing over N720 billion in the programme, which is expected to create thousands of jobs and revive dormant filling stations nationwide.

Stakeholders such as fuel station operators, telecom companies, and large-scale fuel consumers have been urged to partner with the initiative. Petrol station owners were also encouraged to register for free delivery and other benefits tied to the scheme.

Source: Dangote Group

Tinubu Orders Tighter Oversight of Crypto Transctons and Digital Payments

President Bola Tinubu has directed the Central Bank of Nigeria (CBN) and other regulators to intensify monitoring of cryptocurrency and digital payment activities.

Speaking through Finance Minister Wale Edun at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja, Tinubu noted that the rapid adoption of stablecoins and digital currencies outside traditional banks poses challenges.

“There is a digital revolution. Many people now make payments without using the banking system. To this end, I have directed capital market and banking authorities to track this trend while it is still evolving,” he said.

He stressed that digital tools, AI, and open banking are no longer futuristic but essential for Nigeria’s economic growth.

CBN Governor Olayemi Cardoso also revealed that diaspora remittances, now at $600m monthly, could reach $1billion by 2026. CIBN President Prof. Pius Olanrewaju disclosed that since 2024, 16 banks have raised over N2.5 trillion in fresh capital, while private sector credit has surged above N82 trillion, boosting jobs and businesses.
The renewed focus comes amid Nigeria’s ongoing legal battles with Binance Holdings Ltd. The government is demanding over $79.5 billion and ₦231m in damages, along with $2.001 billion in alleged unpaid taxes for 2022 and 2023. The crypto firm and its executives, Tigran Gambaryan and Nadeem Anjarwalla, face multiple charges including tax evasion, money laundering, and foreign exchange violations.

The cases, currently before the Federal High Court in Abuja, also seek penalties for tax defaults, interest charges tied to CBN’s lending rate, and other sanctions. Authorities allege Binance concealed operations despite its significant presence in Nigeria.

#Instablog9jaNews #TrendingStory #Awareness

Senator Achonu Backs Cannabis Legalisation for Medical and Economic Use.

Former senator and Labour Party governorship candidate in the 2023 Imo election, Athan Nneji Achonu, says the National Assembly is working on a bill to legalise cannabis for medicinal and economic use.

Speaking in Abuja on Monday, Achonu urged the federal government to embrace the move, warning that Nigeria is “sleeping on a multi-trillion-naira opportunity” while other nations advance.

Describing cannabis as “green gold,” he recalled sponsoring a similar bill in the Senate that failed because “Nigerians chose to demonise its usage.” He revealed that lawmakers are now pushing for legislation with strict regulation to prevent abuse.

Achonu argued that legalisation could diversify the economy, create jobs, attract foreign investment, and boost medical research. 

“The global legal cannabis market is projected to exceed $100 billion before the end of this decade,” he said. “Nigeria has the right climate, fertile soil, and manpower to dominate this industry. Instead, we are watching others build wealth while we cling to outdated prohibitions. The time to act is now.”

He added that a regulated cannabis industry could generate tax revenue, increase exports, and provide treatments for chronic illnesses like epilepsy and cancer.

Beyond cannabis, Achonu criticised poor management of funds allocated to states and local governments from fuel subsidy savings. He said governors had shown “no convincing evidence” of using the resources to improve human development indices.

He called for grassroots accountability, urging citizens to monitor allocations and hold local government chairmen responsible. “We must hold them to account. If necessary, take them to court,” he said, adding that this would give meaning to the recent Supreme Court-backed autonomy for local governments.

Australian Bank Fires Long-Serving Employee, Replaces Her With AI She Helped Build

The Commonwealth Bank of Australia has come under criticism after sacking 65-year-old Kathryn Sullivan, a former teller who had worked at the bank for 25 years, only to replace her with the very AI system she helped train.

Sullivan was made redundant in July after weeks spent scripting and testing responses for “Bumblebee,” the bank’s chatbot, which later took over her role. “I was completely shell-shocked,” she said, adding that she and a colleague felt devalued after years of service.

While acknowledging AI’s potential, Sullivan called for regulations to prevent abuse and protect human jobs. The bank initially ignored her inquiries but later admitted its AI rollout was premature, offering to reinstate the affected workers. Sullivan declined the offer, citing job insecurity.

Tinubu: Nigeria Met 2025 Revenue Target in August, Says Economy Now Stable

President Bola Ahmed Tinubu has announced that Nigeria achieved its full-year revenue target as early as August, declaring the nation’s economy stable, resilient, and no longer at the mercy of external shocks.

Speaking at the Presidential Villa in Abuja on Tuesday while receiving a delegation of former members of the defunct Congress for Progressive Change (CPC), Tinubu expressed confidence that his administration’s economic reforms are yielding results.

“Nigeria is not borrowing. We met our revenue target in August. Let Trump do his worst — we are stable,” the President stated.

He attributed the success to improved non-oil revenue and fiscal discipline, noting that the naira, which had spiked to ₦1,900 per dollar before his reforms, has now stabilised around ₦1,450.

“No one needs secret links to the CBN governor anymore to access forex. All you need to do is export, import, and create jobs,” he said.

Agriculture at the Core of Recovery

Tinubu disclosed that he has approved a nationwide agricultural mechanisation programme, which includes training centres and support facilities.

“Food security is our backbone. Once we defeat hunger, we defeat poverty,” he emphasised.

CPC Loyalty and Buhari’s Legacy
Addressing the CPC bloc within the APC, Tinubu thanked them for their patience over political appointments, assuring that ambassadorial slots and other positions remain open. He praised their unity, recalling the early merger talks that birthed the APC and joking about past disagreements with Buhari over party symbols.

He further pledged to honour the late President Muhammadu Buhari with a ‘Buhari House’ as a symbol of discipline, honesty, and prosperity.
“Part of what we inherited from Buhari was his honesty and justice. You won’t get anything less than that,” Tinubu affirmed.

CPC Leaders Reaffirm Support

House Speaker Tajudeen Abbas, who led the delegation, assured Tinubu of CPC’s unwavering loyalty and grassroots mobilisation for his 2027 re-election bid.

“We are together today, tomorrow, and forever,” Abbas declared.

Senator Tanko Al-Makura, former Nasarawa governor and CPC stalwart, hailed Tinubu’s “transparent and dignified” handling of Buhari’s state burial, adding that the Renewed Hope Agenda represents a scientific and pragmatic plan for Nigeria’s restoration.

As the meeting closed, Tinubu promised Nigerians that “the joy at the end of this journey will belong to all.”