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Borno State Governor Babagana Umara Zulum has visited the Diffa Region of Niger Republic to strengthen collaboration in the fight against insurgency along the Nigeria-Niger border.

The visit, which included a high-level security and economic delegation, focused on joint patrols, intelligence sharing, and sustaining the gains recorded in clearing insurgents from parts of the Lake Chad basin.

Diffa, located about 17 kilometres from Damasak town in Borno, currently hosts thousands of Nigerians displaced by the Boko Haram insurgency.

Zulum was received by the Governor of Diffa, Brig.-Gen. Mahamaduo Bagadoma, and other senior officials.

Both leaders held closed-door talks on improving cross-border security and stabilising communities affected by insurgency.

Speaking after the meeting, Zulum said the improved security situation in the region would be leveraged to facilitate the return of displaced farmers to their agricultural lands around Dutchi town within the Lake Chad basin.

The Borno State governor expressed optimism that enhanced cooperation between Nigerian and Nigerien forces would help to end cross-border insecurity and promote socio-economic recovery in affected communities.

Bagadoma haied Zulum for the visit and assured him of Niger’s continued commitment towards supporting activities that would restore peace.

The Lagos Chamber of Commerce and Industry (LCCI) have called for greater private sector collaboration, innovation and investment to drive sustainable transformation in Nigeria’s tourism sector.

The call was made as the Chamber joined the global community to commemorate World Tourism Day 2025, themed ‘Sustainable Transformation in Tourism.’

The event convened stakeholders from hospitality, agribusiness, and the creative industries to explore new growth opportunities for Lagos and Nigeria at large.

In his welcome remarks, Vice Chairman of the LCCI Hotel and Tourism Sector and Secretary of the Board of Trustees, Eko Tourism Foundation, Dr. Tunde Lawrenson, stressed the importance of partnerships and investment as vehicles for sustainability.

LCCI President, Gabriel Idahosa, noted that while challenges remain in the sector, collaboration among private players remains a panacea to unlocking tourism’s potential. He cautioned against over-reliance on government and urged stakeholders to leverage Nigeria’s globally recognized creative industry to boost tourism. He also downplayed insecurity narratives, pointing out that several thriving global destinations contend with similar challenges.

In his keynote address, former President of the Association of Tourism Practitioners of Nigeria, Comrade Hassan Zakari, emphasized deliberate investment in infrastructure and agri-tourism as essential for long-term industry growth.

Other contributors included Pastor (Dr.) Olarewaju Saba, MD/CEO of St. Chris Properties and Investment Ltd; Dr. Amb. Daniel Olabintan, Chairman of the Elders Group, Travel and Tour; and Mr. Aderoju Owosanya, representing the Chairman/CEO of Xtralarge Farms and Resorts.

An interactive panel session allowed participants to engage directly with industry leaders on pressing issues such as youth participation, infrastructure, and the promotion of local tourism.

At the close of the event, a communiqué outlined resolutions such as increasing Gen Z and youth involvement in tourism development, promoting local tourism through music, film, and cultural heritage, strengthening partnerships across agriculture, hospitality, and the creative economy.

With Lagos as a focal point, this year’s celebration spotlighted agri-tourism and infrastructure investment as critical to repositioning Nigeria’s tourism industry for sustainable growth and global competitiveness.

The Nigeria Deposit Insurance Corporation (NDIC) has said that nearly all depositors in Nigeria’s financial system are adequately protected under its enhanced coverage framework.

Speaking at the Corporation’s Special Day at the ongoing Abuja International Trade Fair on Thursday, the Managing Director and Chief Executive of NDIC, Mr. Thompson Oludare Sunday, disclosed that 98.98 per cent of depositors in Deposit Money Banks (DMBs), 99.27 per cent in Microfinance Banks (MFBs), 99.34 per cent in Primary Mortgage Banks (PMBs), and 99.99 per cent in Payment Service Banks (PSBs) are fully covered.

According to him, the expansion in coverage was achieved through the upward review of the maximum deposit insurance limit across various bank categories.

‘Currently, the NDIC insures depositors of Deposit Money Banks, Mobile Money Operators, and Non-Interest Banks up to a coverage limit of five million naira,’ Sunday said. ‘Depositors of Payment Service Banks, Microfinance Banks, and Primary Mortgage Banks are insured up to two million naira.

This provides stronger assurance to millions of Nigerians that their savings are safe.’

The NDIC boss cautioned Nigerians to be wary of fraudulent financial schemes warning that ‘It is important for Nigerians to remain vigilant against Ponzi schemes and other fraudulent investment platforms. Always ensure your funds are placed only in Central Bank of Nigeria licensed banks, all of which are covered by deposit insurance provided by the NDIC. This vigilance is crucial to protecting your hard-earned savings,’ he said.

He explained that in the event of bank failure, depositors with funds above the insured limit first receive an initial payout up to the maximum coverage, while balances above that amount are settled through liquidation dividends.

‘Liquidation dividends refer to payouts made to depositors and creditors from proceeds generated from the sale of a failed bank’s assets and recovered debts,’ he noted. ‘These are paid on a pro-rata basis, meaning depositors receive a proportionate share of the recovered funds relative to their outstanding balances beyond the insured limit.’

Citing a recent case, Sunday referenced the revocation of Heritage Bank’s license on June 3, 2024. He said NDIC promptly reimbursed insured depositors using the Bank Verification Number (BVN) in partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to identify alternate accounts for payment.

‘Depositors with sums exceeding five million naira were first paid up to the insured amount, and liquidation dividends are being paid subsequently from recovered assets and debts,’ he explained. ‘The first tranche of liquidation dividends commenced on April 25, 2025, and payments continue as the Corporation realises asset sales and debt recoveries. This approach demonstrates NDIC’s effectiveness in ensuring comprehensive depositor protection and financial stability.’

Earlier, the President of the Abuja Chamber of Commerce and Industry (ACCI), Chief Emeka Obegolu, represented by Sir Agaba Idu Jideani, said the theme of this year’s trade fair – Sustainability, Consumption, Incentives, and Taxation – reflects the need to build resilient institutions and inclusive economic growth.

‘We are pleased to note the alignment between this theme and the mandates of NDIC, which provides a safety net for depositors, contributes to financial system stability, and supports confidence in our banking sector,’ Obegolu said. ‘The Corporation’s four broad mandates – Deposit Guarantee, Banking Supervision, Pension Resolution, and Banking Regulation – are fundamental pillars of Nigeria’s financial ecosystem.’

He said NDIC’s role is critical for businesses, particularly small and medium-sized enterprises (SMEs), as it ensures access to stable financial services and fosters confidence in investment.

‘By extending deposit insurance coverage beyond deposit money banks to include microfinance banks, mortgage banks, non-interest banks, payment service banks, and mobile money operators, NDIC has shown responsiveness to the evolving dynamics of Nigeria’s financial landscape,’ he added. ‘These interventions not only protect depositors but also create a more enabled environment for SMEs and entrepreneurs to participate confidently in the economy.’

The ACCI president also called for stronger recognition of women in enterprise. ‘At the Abuja Chamber of Commerce and Industry, we have established a gender policy and introduced a national definition of women-owned businesses, which we are advocating for widespread adoption. If we accept that women make up at least half of the population, then recognising and strengthening their capacity in business is not only sensible but essential for national growth,’ he said.

The Nigerian music scene has just been electrified with the release of Fortune, the highly anticipated 7-track EP from fast-rising Afro-Fusion artist, Enielayefa Fortune Ebikake, popularly known as Iv Tune.

The project, which officially dropped on October 3, 2025, is already making waves with its standout track; Rock Your Body, a smooth, flirty, and irresistible anthem that’s fast becoming a fan favorite. With its playful lyrics, magnetic rhythm, and dance-ready beat, the track is primed to dominate playlists, nightclubs, and TikTok challenges nationwide.

With Fortune, Iv Tune not only proves his artistry but also positions himself as a global export in the making. The song is pure vibes and versatility on display.

Iv Tune effortlessly blends Afrobeats, RnB, and global sounds into one dynamic wave of music. From the hustle-driven urgency of Time Is Money, to the fiery heat of Fire On Me, and the uplifting energy of Come Alive, this EP hits every mood.

It’s both personal and universal, a true soundtrack of ambition, love, struggle, and joy.

‘Speaking on the release, the musician said: ‘This EP is me stepping into my destiny. Each song reflects my journey – the struggles, the dreams, the wins.

Fortune is about embracing life’s challenges and still finding reasons to dance, to live, and to believe.’ Now streaming on all major platforms, Fortune comes with a vibrant promotional rollout.

Minister of State for Petroleum Resources Oil Senator Heineken Lokpobiri has said the divestments by the International Oil Companies (IOCs) in the Nigerian petroleum upstream sector have added 200,000 barrels per to national production.

He also said the divestments have unlocked over $5.5 billion in final investment decisions (FIDs) within months.

Lokpobiri spoke on behalf of President Bola Tinubu at the Africa Energy Week in Cape Town, South Africa.

He declared that Nigeria is ‘open for business’ and actively pursuing policies that prioritise investment, efficiency, and long-term growth in the oil sector.

‘This gathering is more than a conference, it is a call to action,’ he said, stressing that Nigeria is ready not just to participate in the global energy market, but to lead reform and growth on the African continent.

Lokpobiri outlined the bold policy measures implemented under President Tinubu’s administration, particularly the Petroleum Industry Act (PIA), which provides a clear and predictable fiscal and regulatory environment for investors.

The PIA has laid the foundation for licensing transparency, host community engagement, strengthened regulatory oversight, and a fair contractual framework. ‘What makes Nigeria now different is the legal, regulatory, financial, and structural transformation we are delivering,’ the Minister said.

Nigeria’s upstream sector is showing signs of strong recovery. The ‘Project One Million Barrels’ initiative, launched in October 2024, has raised daily crude oil production to between 1.7 and 1.83 million barrels per day, with a notable increase of 300,000 barrels per day in July 2025 alone.

Additionally, the number of active drilling rigs has grown from 31 in January to 50 by July 2025, a clear signal that reforms are unlocking value across the sector.

Of particular note were the recent asset divestments by international oil companies (IOCs), which the Minister said have unlocked over $5.5 billion in final investment decisions (FIDs) within months.

‘These are not just transfers of assets, they are transfers of confidence, capability, and ownership.

The divestments have already added approximately 200,000 barrels per day to national production.’

On the broader African context, Lokpobiri urged the continent to retain more value from its hydrocarbon resources by focusing on infrastructure, industrial development, and localized value chains. He noted that Africa spends over $120 billion annually on hydrocarbons, largely through imports, calling it a missed opportunity for economic transformation.

He advocated for stronger intra-African collaboration and financing, emphasizing that Africa holds nearly $4 trillion in domestic capital, including pension and insurance funds. ‘The question is no longer about the availability of funds, but how we can channel them into productive investments on our continent,’ he said.

Addressing the topic of the global energy conversation, the Minister called for balance and equity. He insisted that the narrative must shift toward a diverse energy mix, not abandonment of any resource. ‘The focus should be on availability, accessibility, and affordability of all forms of energy,’ he stressed. He made it clear that Nigeria, like other nations, will continue to utilize its oil resources responsibly while building a diversified and sustainable energy base.

Lokpobiri reaffirmed Nigeria’s role as a leading energy player in Africa. ‘We are offering opportunities at scale, reform with consistency, incentives with clarity, local participation with respect, and a vision that modernizes with purpose,’ he declared.

To global investors, he extended a direct invitation: ‘Come to Nigeria. Be part of the energy revolution.’ With strong reforms, ambitious targets, and an open-door policy, Nigeria is charting a bold path forward in Africa’s energy future.

Obviously, food is important to terrorists because it energises them. Therefore, it makes sense to arrest people who supply food items to them, and also seize food items being transported to them.

The Chief of Military Public Information Office, Lt. Col. Kamarudeen Adegoke, said in a statement that personnel of the Multinational Joint Task Force (MNJTF), on October 11, intercepted 466 bags of food items, comprising 364 bags of beans and 102 bags of corn. They also arrested ’40 terrorist logistics suppliers’ on a suspected supply route in an operation against terrorist activities in the Lake Chad region, he stated.

He added that troops of 68 Battalion on a joint patrol with the Civilian Joint Task Force in the Mallam Fatori- Bandamari- Bari – Korarawon area, discovered and confiscated 12 bags of fish and nine donkeys allegedly used to carry supplies to terrorists in the Lake Chad basin region.

There are questions that demand answers. For how long have the arrested alleged suppliers been transporting food items to terrorists using the suspected routes? Why were they not caught before now? What will happen to them after their arrest?

Notably, the police, last year, had accused some arrested terrorism-related suppliers of criminal conspiracy. There is no doubt that such suppliers help terrorists to sustain their criminal activities. The fight against terrorism should be not only against terrorists but also those who aid them.

Such arrests should be a means of gathering intelligence that would advance the country’s fight against terrorism. It is not enough to arrest suppliers. Such arrests should lead to the capture of terrorists.

In a case that grabbed the headlines last year, the Force Intelligence Bureau -Intelligence Response Team (FIB-IRT) arrested members of a group that allegedly supplied drugs, bread and other food items to bandits operating in Zaria, Kaduna State and its environs.

They were apprehended at the Rigachikun base following a tip-off, and revealed that they usually supplied bread to bandits at Galadimawa, Damari, Kidandan and Awala camps in Birnin Gwari and Giwa local government areas, Kaduna State. One of them said they also supplied information to bandits which helped their kidnapping and cattle rustling operations.

Bakery owner Hassan Magaji, who was arrested, said: ‘The boom in my business began when I started supplying bread to bandits.’ He had an agreement with them that they would pay upfront for their bread supplies, and he made good profit doing business with them. ‘They started with bread worth N20, 000 and gradually increased it to N50, 000 a day,’ he said, adding that he made as much as N150,000 a week ‘after removing the cost of the ingredients.’

Nothing was heard about the food suppliers and their criminal customers after the report. There have also been reported arrests of suppliers of arms to bandits. Even, in one striking case, a housewife identified as Maryam Abubakar, in Giwa Local Government Area of Kaduna State, was arrested for allegedly supplying women, including her daughters and nieces, to bandits in Galadimawa forest to satisfy their sexual needs. Lamentably, these arrests led nowhere.

The point bears repeating: It is pointless announcing the arrest of terrorism enablers, whether they are suppliers of drugs, food items, weapons or sex, if such arrests lead nowhere. Arresting suppliers should not be an end in itself, but should be a means to an end, which is the arrest of those who receive the supplies.

The large number of bags of beans, maize and fish seized from suspected suppliers recently can be said to suggest a great number of terrorists. Fighting terrorism must go beyond arresting suppliers. They should be tried and penalised. But ultimately, terrorists should be caught, prosecuted and punished.

The naira struck a major rally yesterday as exchange rate at the parallel markets fell below official market, putting pressure on currency speculators.

The naira yesterday closed at N1,450 per dollar at the parallel markets, stronger than N1,475 per dollar it exchanged in the official window where banks and other financial institutions carry out transactions.

The naira had on Wednesday closed around N1,475 per dollar at the parallel market, sustaining relative stability at the official window.

At the parallel markets dominated by bureau de change operators and unofficial foreign exchange (forex) transactions, many operators traded at huge losses.

A Bureaux De Change (BDC) trader based in Ikeja, Lagos, Mohammed Gabi, said many FX dealers lost huge funds after selling below purchase rates as exchange rate gap narrowed.

‘Many BDC operators sold dollar below the purchasing amount as they feared further losses. We expect the trend to continue in the weeks ahead. Also, the expected dollar inflows to the economy will help strengthen the naira position against the dollar,’ he said.

Industry source said there has been increased dollar liquidity in the parallel market, which took many black market dealers unawares.

‘I can tell you that a lot of dollars came into the parallel market, forcing those holding back dollars to offload their funds with fear. If the trend, continues, we could see dollar exchanging around N1,400 per dollar as projected in many quarters,’ the source said.

Analysts at Commercio Partners, attributed the rally and gradual narrowing of the exchange rate gap to a combination of stronger demand for the naira, reduced speculative trading, and improved foreign reserves.

Head of Research at Commercio Partners, Ifeanyi Ubah, expressed optimism that the positive sentiment would be sustained in the near term, supported by increasing external buffers.

‘Nigeria’s rising external reserves are reflecting a healthier external position for the country. With reserves strengthening, speculative activity subsiding, and oil earnings supporting inflows, many market watchers believe the naira’s current rally has a stronger foundation compared to previous cycles of volatility,’ he said.

The local currency rebound is being driven by a combination of stronger demand for the naira, reduced speculative trading, and rising foreign reserves now at $43.05 billion.

CBN Governor, Olayemi Cardoso announced that gross external reserves remained robust at $43.05 billion on September 11, 2025, compared with $40.51 billion at end-July 2025 with an import cover of 8.28 months.

‘Similarly, the second quarter 2025 current account balance recorded a significant surplus of $5.28 billion compared with $2.85 billion in first quarter of 2025,’ Cardoso stated during the 302nd monetary policy committee meeting held this week in Abuja.

Analysts insist that the forex reforms instituted by the Cardoso-led CBN are stabilizing the exchange rates and improving overall health of the economy.

The reforms were instituted to entrench transparency, accountability and improve dollar access in the foreign exchange market.

President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said the naira gains showed the level of creativity the Central Bank puts in ensuring that more forex flows into the economy and remain accessible to businesses

A few months ago, Roosevelt Ogbonna FCA, the Managing Director/ Chief Executive Officer of Access Holdings, made headlines when he stepped down from his role as a Non-Executive Director on the bank’s Board. After three and a half years of dedicated service, his departure went largely unnoticed, particularly considering he still holds a substantial stake of 158,494,589 shares in the company, valued at approximately $2.7 million. However, this decision was not merely a coincidence; it was a strategic move to comply with the Central Bank of Nigeria’s Corporate Governance Guidelines for Financial Holding Companies established in 2023. These guidelines mandate that the Board of any Financial Holding Company can consist of no more than nine directors. Despite his resignation, Ogbonna continues to play a crucial role in shaping the bank’s expansion strategy, indicating that his influence within the organization remains significant.

Known for his love of a lavish lifestyle, Ogbonna embodies the philosophy that money is meant to be enjoyed. This belief persists, even as he maintains a diverse portfolio of investments across various sectors. He views spending as a reflection of hard work, not hesitating to indulge himself in moments of luxury when the occasion calls for it.

While he shuns the limelight and prefers to live a low-profile life, Ogbonna has a taste for the finer things. He is known for his impeccable fashion sense, often seen in sharp tuxedos, driving luxury cars, and showcasing a stunning collection of wristwatches. His penchant for style is balanced with a desire to enjoy life to its fullest extent.

Ogbonna’s real estate portfolio is equally impressive, boasting mansions in prestigious locations like Lagos and Abuja. Recently, he took his luxurious preferences global by acquiring a remarkable property in Hampstead, London, for £15 million (approximately $20 million).

This location, often dubbed ‘Billionaires’ Row,’ represents some of the most sought-after real estate in the UK, attracting the elite and affluent. The strategic timing of his purchase comes amid a cooling luxury housing market in London, which has been impacted by recent stamp duty increases and the scaling back of tax advantages for wealthy foreign buyers. Ogbonna’s acquisition thus signifies a tactical investment move, allowing him to capitalize on market conditions while enhancing his status among the world’s wealthiest individuals. This acquisition shows his negotiating skills and also study of the market and capitalizing on its loophole to his own advantage.

Concerned tanker drivers from across the country have reaffirmed their confidence in the Petroleum Tanker Drivers (PTD) Branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and its leadership under Comrade Augustine Egbon.

Drivers from Kaduna, Lagos, Port Harcourt, and Warri zones at a press briefing yesterday disowned a group parading itself as the ‘PTD Elders Forum,’ describing its members as impostors with no recognition under PTD or NUPENG constitutions.

They appealed to security agencies to investigate and prosecute those behind the forum.

Speaking on behalf of Kaduna Zone, Bashir Izalan, said the group was unknown to PTD, stressing that Egbon’s leadership had been transparent and responsive to members’ welfare.

He noted that drivers benefited from union-backed insurance, medical support and intervention in workplace disputes.

Mr. Itanola Abiodun, representing Lagos Zone, maintained that the so-called elders were not members of the union, pointing out that every legitimate PTD member belonged to a unit and zone.

He urged the group to identify their units if they were genuine members, insisting that they were ‘hired hands’ out to destabilise the union.

From Port Harcourt Zone, Chukwudi Okafor dismissed allegations that PTD leadership mismanaged check-off dues and loading fees, clarifying that the funds, contributed by truck owners, are used for drivers’ health insurance and welfare.

He said members were satisfied with how resources are managed, urging the government to support PTD.

Dennis Akore of Warri Zone alleged that the controversy was linked to former PTD members who lost out in the July, last year’s delegates’ conference. He claimed the group was attempting to regain control of the union after being voted out by drivers.

Earlier, NUPENG President, Comrade Williams Akporeha, and General Secretary, Comrade Afolabi Olawale, had also warned against the activities of the ‘PTD Elders Forum,’ describing them as infiltrators working to sow disaffection within the union.

Women have been urged to increase their participation in governance and other sectors of the economy.

Speakers, who included the Minister of Youth Development, Comrade Ayodele Olawande; wife of the Lagos State governor, Mrs Ibijoke Sanwo-Olu; Lagos State University (LASU), Prof. Ibiyemi Olatunji-Bello and board guru, Mazi Sam Ohuabunwa, made the call at the seventh Women in Governance Conference organised by the Association of Corporate Governance Professionals of Nigeria (ACGPN).

The event themed ”Women in Leadership: Navigating challenges and seizing opportunities” was held in Ikoyi, Lagos.

Olawande, who was represented, said though women empowerment is vital to national development, gender equality remained a societal issue. The minister who advised women to go out and shine, however, urged men to support women to achieve their goals.

Dr. Sanwo-Olu called for full representation of women in the future. With more empowerment, doors would open for them, said the governor’s wife, who was represented by the wife of the Commissioner for Transportation/member, Committee of Wives of Lagos State Officials (COWLSO), Mrs Oyinkan Oshiyemi.

Olatunji-Bello, represented by the Deputy Vice Chancellor, Administration), Prof Adenike Omotunde Moyo, charged women to be courageous and go for their goals and that nothing should deter them. She said when they meet barriers and glass walls, they should be hopeful as they were meant to be scaled or broken and that nothing could hold a willing mind back. Citing herself, the VC said it had not been a bed of roses as many might have erroneously thought, but that she, too, had mountains to surmount to get to her exalted position with good results. Hard work, she noted, as the mother of success.

She noted that with good leadership by women, mountains could be moved. ‘We are the leaders the world needs,” she added.

Ohuabunwa, who is the association’s President/Chairman-in-Council, said gone were the days when the number of women in the boards or heads of universities could be counted on the finger tips, adding that women were on the rise in government, banks, among others.

He said he had encountered over 20 institutions of high learning led by women and, also, female heads of service and permanent secretaries in civil service. ”The teaching and nursing professions are not dominated by female folks, and even professions that were seen as largely masculine are today led by women and that the president of the National Centre for Human Rights is a woman. ”Thus, it is clear that our women have made tremendous progress, though we still have a long way to go,” Ohuabunwa said

Despite the challenges, Ohuabunwa said, women should not be deterred from climbing higher.

He however decried the situation where some women were found guilty of malfeasance, saying such should be discouraged by them. Rather, he added, women should be role models in society.

He challenged women on accountability, fairness, and transparency in public and private. He congratulated the new fellows of the association.

A lawyer, Mrs Funmi Roberts, sought mentoring for younger women, especially lawyers. She counselled the young generation on patience, good conduct and training, saying the future belongs to those with the right skills. Mrs Funmi noted that the road to the top is rough and tough but that with patience, the young ones would achieve success. She pleaded with the old generation to put in place for grooming, adding that after all, they are the future leaders who should be trained to get it right.

Earlier, while welcoming participants to the ceremony, the WIG Conference Committee Chairman, Mrs Olufade Olufunke, said it was their objective to continue to create pathways where women could thrive and leave marks in leadership.

Highlight of the event was the presentation of awards to the speakers, among others.

Also at the event were the association’s National Treasurer, Princess Elemanya Ebila; National Administrator, Dr. Femi Mosaku-Johnson; ACGPN council member, Mr Filius Osunbor; General Manager, Lagos State Office For Disability Affairs, Mrs Adenike Oyetunde-Lawal;Zonal Director, NTA Network Centre, Lagos, Dr. Evelyn Nwosu; among others.