Despite Loss to Morocco, BUA Chairman Samad Rabiu Honors $500,000 Pledge to Super Eagles

Nigerian businessman and BUA Group Chairman Abdul Samad Rabiu has confirmed he will fulfill his $500,000 pledge to the Super Eagles despite their recent loss to Morocco. Rabiu praised the team’s resilience, fighting spirit, and unity, emphasizing that effort and courage matter more than the final score. He previously pledged up to $1.5 million in cash rewards for victories in the semi-final and final, along with goal bonuses. Rabiu urged players to stay motivated, framing the experience as a foundation for future success, and reaffirmed his commitment to celebrating and supporting Nigeria’s national team.

#SuperEagles #SamadRabiu #NigeriaFootball

US Shipping Company Alleges Nigerian Army Complicity in Seizure and Dismantling of Vessel in Delta

Nujenix Corporation, a US-based shipping firm, has accused the Nigerian Army of complicity in the illegal seizure and dismantling of its vessel, MT Thor, at Koko, Warri in Delta State. The firm alleges that soldiers prevented police from investigating and recovering the vessel after it was allegedly stolen by a Nigerian businessman, Mr. John George Igor. Lawyers representing Nujenix claim the vessel has been stripped of vital equipment, rendering it unusable. The company has petitioned the Inspector-General of Police, seeking urgent intervention over threats, obstruction of justice, and alleged criminal acts.

JUST IN: Nigerian businesswoman Folorunso Alakija has built and donated a N34 billion medical research and training hospital to Osun State University.

The facility is named the Modupe and Folorunso Alakija Medical Research and Training Hospital

Nigerian Man Detained, Stripped and Humiliated for Six Weeks in Qatar After Airport Officials Mistook Mannequin for Drugs, Lawyers Demand Redress

A Nigerian business analyst, Onyedika Ezeh, was wrongfully detained for six weeks in Qatar after airport security at Hamad International Airport mistook decorative stones inside a hair mannequin for narcotics during a transit stop. Despite multiple tests returning negative results, Ezeh was allegedly stripped, humiliated, forced to sign false documents in Arabic, and held without charge. The incident reportedly led to severe psychological trauma, the collapse of his marriage, and the revocation of both his and his wife’s U.S. visas, abruptly ending her PhD programme in Texas. His lawyers have issued a legal notice demanding retraction, compensation, and diplomatic redress, warning Qatar Airways of legal action if the matter is not resolved.

Nigeria is the third largest export market for U.S. wheat. Consul General Rick Swart and U.S. Agricultural Counselor Chris Bielecki visited the Apapa Port in Lagos to observe the unloading of 50,000 metric tons of U.S. grown wheat with a value of about $15 million.

The wheat was purchased by Flour Mills of Nigeria, one of the largest importers of U.S. wheat in Nigeria. U.S. agricultural trade with Nigeria supports American farmers, helps Nigerian businesses create jobs in value added agricultural processing, and provides Nigerian consumers with high quality food ingredients.

In 2025, U.S.-Nigeria agricultural trade is on track to more than double to over $700 million, benefiting farmers, businesses, and consumers on both sides of the Atlantic.

#TradeTuesday

Olakunle Churchill Flaunts Million-Naira Hermès Bag as Celebrities React to Luxury Purchase

Nigerian businessman Olakunle Churchill sparked buzz online after showcasing his latest luxury acquisition—an expensive Hermès bag paired with designer shoes. The Instagram post quickly went viral, drawing reactions from top celebrities who praised, questioned, or playfully teased his high-end fashion choice.
The display follows recent online discussions about Churchill’s past with Tonto Dikeh, resurfaced wedding footage, and his family getaway to Disneyland, which previously stirred mixed reactions. Despite controversies, Churchill remains a trending figure, with fans and celebrities closely watching his lifestyle updates.

Lagos Tops 2025 Ease of Doing Business Ranking as PEBEC Warns States on Urgent Reforms

The Presidential Enabling Business Environment Council (PEBEC) has released the 2025 Subnational Ease of Doing Business Report, with Lagos leading at 85.6%, far ahead of other states. Kaduna, Oyo, FCT, and Ogun complete the top five, while Enugu, Plateau, Ekiti, Kano, and Nasarawa make the top ten. PEBEC says the ranking is based on hard administrative evidence across 16 indicators, highlighting gaps in power stability, investor aftercare, interstate trade rules, and MSME financing. The council warns that without urgent reforms, Nigerian businesses may continue relocating to more stable environments like Ghana, Rwanda, and Kenya.

Businessman Detains Wife and Three Children in Abuja After She Leaves Marriage, Family Accuses Police of Complicity



A Nigerian businessman, Chukwudi Christopher Ike, has allegedly orchestrated the arrest and detention of his wife, Adaeze Gift Echendu Ike, and their three children after she walked out of their marriage and travelled to Abuja. The woman was intercepted at the airport by individuals posing as “Airport Crime Watch” operatives and later held at the Airport Police Division over what family members describe as false allegations of theft. Despite lawyers' efforts, the police—allegedly influenced by the husband—refused to grant bail, detaining even the children, including a sick infant. The family accuses the police of weaponizing law enforcement power in a private marital dispute, while the husband defends his actions as an attempt to locate his family after they left without his knowledge.

FG Approves just $1bn for Modernisation of Apapa, TinCan Ports in Lagos.

The Federal Government has approved $1 billion (₦1.4 trillion) for the modernisation of Apapa and TinCan Island seaports in Lagos — Nigeria’s busiest commercial gateways.

Minister of Marine and Blue Economy, Adegboyega Oyetola, announced this on Wednesday at the Chartered Institute of Logistics and Transport (CILT) Nigeria Conference in Lagos. 

He said the project aims to enhance cargo handling, expand capacity, and align operations with global standards under the ministry’s 10-year marine and blue economy strategy.

“We are working closely with stakeholders to achieve a paperless, technology-driven port environment that enhances efficiency, reduces turnaround time, and curbs corruption,” Oyetola stated.

He added that similar port upgrades are being planned outside Lagos to ensure balanced development nationwide.

Though the government has not released full details or a timeline, reports earlier this year indicated that ITB Nigeria — owned by Lebanese-Nigerian businessman Gilbert Chagoury — had been awarded a $700 million contract for the Lagos port renovation, expected to begin in mid-2025. 

The project is to be financed through a Citibank loan backed by UK Export Finance, with additional support from Afreximbank.

APM Terminals, operators of the Apapa port and a subsidiary of Maersk, has also proposed a $500 million investment.

Oyetola noted that the ministry is fostering private sector participation through regulatory reforms, public-private partnerships, and incentives to drive innovation and job creation.

Lagos ports, despite high fees and ageing infrastructure, remain vital trade hubs for West Africa and continue to attract major global shipping companies.

I Have Never Heard any Wealthy Person Say ‘Money na Water’—Billionaire Businessman Cosmas Maduka Informs Cubana ChiefPriest, Others; Says Rich People don’t Make Noise.

Nigerian businessman and founder of Coscharis Group, Dr. Cosmas Maduka, has condemned the growing trend of using the slang “money na water” to justify reckless spending and public display of wealth.

In a passionate statement, Maduka criticized the culture of throwing money at parties and flaunting riches, describing it as a “dead value system” that corrupts societal morals and misguides the younger generation.

“I’ve never heard Tony Elumelu say ‘money na water,’ I’ve never heard Femi Otedola say it, and I’ve never said it myself,” Maduka stated. “When I attend a function and people start throwing money in the air, I quietly walk away. This madness must stop.”

The billionaire businessman lamented that modesty and humility, traits once associated with true wealth have been replaced by showiness and noise. He stressed that real money inspires humility, not arrogance, adding that the glorification of such wasteful behavior should be rejected, not celebrated.

“When we were growing up, rich people didn’t make noise. All these people making noise today never made real money,” he said. “We’ve embraced a deadly culture and are now passing it on to our children. That’s not how to build a value-driven society.”

Maduka urged Nigerians to desist from celebrating ostentatious spending, saying the “money na water” mindset erodes discipline, hard work, and moral integrity.

Subsidy fraud: Otedola slams N1bn suit on Sani, asks Tinubu to release Aig-Imoukhuede report.

Nigerian businessman, Femi Otedola, has said that he has instructed his lawyers to file a N1 billion libel suit against Umar Sani, a former aide to Vice President Namadi Sambo.

The development followed allegations made by Sani, linking Otedola to the fuel subsidy fraud under the Goodluck Jonathan administration.

In response to Otedola’s allegation that “over N2 trillion was siphoned through questionable subsidy claims under the Jonathan administration”, Sani had claimed that “Otedola himself enjoyed enormous privileges during the era”.

Sani equally accused Otedola of engaging in “hypocritical, selective, and convenient rewriting of history”.

However, in a statement released late on Sunday night, Otedola described Sani’s claims as “malicious lies”.

Recalling his role in exposing the subsidy scam, Otedola said he was the first to alert former President Goodluck Jonathan and then Senate President Bukola Saraki of the fraud at the time, wondering how he could be accused of benefiting from the same scam he blew the whistle on.

Dismissing Sani’s attempts to link him with the subsidy scandal, Otedola declared that his company, Zenon Petroleum, never traded in petrol and therefore could not have accessed the subsidy funds.

Announcing his decision to sue the former presidential aide over the alleged defamatory remarks, Otedola insisted that he would not allow anyone to toy with his hard-earned reputation.

Shoprite Stores Shut Down in Ibadan, Ilorin as Shelves Run Empty in Lagos, Abuja

Shoprite’s operations in Nigeria appear to be in dire straits, four years after the South African retail giant exited the country’s supermarket business.

Daily Trust reports that outlets in Ibadan and Ilorin have already shut down, while stores still operating in Lagos, Abuja, and other cities now have visibly empty shelves.

Since opening its first outlet in Lagos in 2005, Shoprite grew into a household name with more than 25 stores across eight states and the Federal Capital Territory, directly employing over 2,000 workers and supporting local suppliers, especially farmers.

But rising inflation, supply chain disruptions, and intense competition have steadily eroded its dominance in Nigeria’s retail space, leaving the company with mounting financial losses.

Shoprite’s parent firm had earlier shifted focus back to its South African market, switching to a franchise model and shutting operations in several African countries including Nigeria, Ghana, Kenya, and Uganda.

In 2021, after 16 years of operation, Shoprite sold its Nigerian business to a group of local investors, citing harsh market conditions as the reason for its withdrawal.

Fake Gold Deal Busted in Uganda — Seven Arrested for Scamming Nigerian Businessman of $70,000

The Ugandan State House Anti-Corruption Unit has arrested seven suspects, including Congolese and Ugandan nationals, over a $70,000 fake gold scam targeting a Nigerian businessman. Authorities recovered 150kg of counterfeit gold and warned investors to verify deals before parting with their money.

The suspects allegedly posed as gold sellers, clearing agents, and company officials, convincing the victim, Mark Gbillah, that they could supply seven kilograms of gold through Legacy Refinery Limited and Emerod Agency Limited. Investigations later revealed the firms had no gold.

The arrests were made after Gbillah reported the scam, enabling authorities to set up a sting operation that caught the fraudsters before they could extort more funds.
Police seized 150 kilograms of fake gold bars and imitation nuggets used to deceive other potential victims.

Officials have urged the public to conduct due diligence and report suspicious business activities to avoid falling prey to similar fraud. The suspects will be charged in court soon.

#UgandaNews #GoldScam #FraudAlert #BreakingNews #Nigeria #Uganda #FakeGold #AntiCorruption #CrimeWatch

Dangote retires from Dangote cement, replacement named.

Nigerian businessman, Alhaji Aliko Dangote, has retired from Dangote Cement, The Eagle Online was told on Friday

Before his retirement from the cement arm of his multisectoral businesses, Dangote had served on the board of the company and was its Chairman.

It was learnt that a replacement has been named to replace him on the board as chairman.

The Eagle Online was told that Emmanuel Ikazoboh will take his position on the board.

The UK has opened its market to over 3,000 Nigerian products, allowing them to enter duty-free or at reduced tariffs under the UK’s Developing Countries Trading Scheme (DCTS).

The Director for the UK Department for Business & Trade, made the announcement in a video released by the UK in Nigeria. He described the DCTS as one of the most generous trade schemes globally, offering easier & cheaper access for Nigerian exports.

“Up to 3,000 products from Nigeria qualify for low or zero tariffs. This includes goods like cocoa & textiles,” Smithson said, adding that the UK has simplified the export process to encourage trade. He urged Nigerian businesses to seize the opportunity & explore the scheme further. “The UK is open for business with Nigeria.

Visit the DCTS website & start trading with us,” he advised. The DCTS, launched in 2023, replaced the UK’s Generalised Scheme of Preferences & aims to boost trade with over 60 developing countries by reducing trade barriers & streamlining import procedures.

BREAKING: Renowned Nigerian Businessman, Alhaji Aminu Dantata Dies At 94

Prominent Nigerian businessman Aminu Dantata is dead.

Renowned Nigerian businessman and philanthropist, Alhaji Aminu Dantata, has passed away at the age of 94.

A family source confirmed that the elder statesman died on Friday night in Dubai, the United Arab Emirates, after a brief illness.

He died at about 3am Nigerian time at a hospital in Abu Dhabi.

The source added that funeral arrangements will be announced in due course.

Born on May 19, 1931 in Kano, Alhaji Aminu Dantata was a major figure in Nigeria’s business landscape for decades.

He was a respected industrialist and a key player in the country’s private sector growth.

He is survived by seven children and many grandchildren. Among his children is Alhaji Tajuddeen Aminu Dantata.

Business leaders urge easier trading conditions ahead NACCIMA president’s investiture.

Business leaders have urged the government to create easier trading conditions ahead of the investiture of the new NACCIMA president.

They emphasised the need for reforms that reduce multiple taxations, lower energy costs, and improve the overall business environment to help local companies thrive and attract investment.

The Nigerian business community will converge in Ilorin, the capital of Kwara State, between Wednesday and Friday for the 65th annual general meeting of the Nigerian Association of Chambers of Commerce, Industries, Mines and Agriculture.

@PeterObi
I just arrived in the UK this morning, on Air Peace from Lagos to London. I have now taken almost a dozen flights to or from London on this airline. I want to sincerely thank the management and staff of Air Peace for their professionalism, consistency, and competence on this route.

Once again, I use this opportunity to appeal to Nigerian Elites and political leaders to give strong and deliberate support to indigenous businesses. It is never easy to run any business in our difficult environment, let alone highly capital-intensive sectors like air and land transportation, especially given the challenges of competitiveness and rising operational costs.

Nigerian businesses need our encouragement and patronage, not harassment or unnecessary intimidation. Supporting local businesses, particularly those that create massive employment, is critical for job creation, economic growth, and sustainable national development.

A new Nigeria is POssible. -PO