Category: Business Day

The International Monetary Fund (IMF) has publicly highlighted the detrimental effect of Illicit Financial Flows (IFFs) out of Nigeria, noting that these leakages are significantly worsening the country’s persistent revenue problem.

Kristalina Georgieva, Fund’s Managing Director, IMF, pledged a renewed institutional focus on tracing such flows to effectively plug the fiscal leakages plaguing Nigeria’s economy.

‘We believe that for countries like Nigeria, the IMF’s renewed focus on tracing Illicit Financial Flows could provide a blueprint for plugging the fiscal leakages that have long undermined revenue generation and sustainable growth, ‘she said at the ongoing 2025 Annual Meetings of the IMF and World Bank in Washington, DC.

Georgieva said that the IMF’s enhanced strategy for identifying and tracking Illicit Financial Flows could provide a working blueprint for Nigeria to address the entrenched fiscal vulnerabilities that have long undermined its attempts at sustainable revenue generation and overall growth.

According to her, illicit financial flows, which include stolen public funds, proceeds from criminal activities, and untraceable digital transactions, continue to erode governance systems, drain public resources, and cripple developmental efforts, especially in developing economies. officials

Moses Itauma has been handed a golden opportunity to fight for his first world title after the World Boxing Association (WBA) ordered him to challenge Kubrat Pulev for the WBA (Regular) heavyweight championship, DAZN reports.

The 19-year-old prodigy, widely tipped as one of boxing’s brightest prospects, has struggled to secure an opponent for his scheduled December 13 return, where he will share the card with veteran Derek Chisora. Itauma was previously linked with Croatian contender Filip Hrgovic, who outpointed David Adeleye on the same night Itauma demolished Dillian Whyte in less than a round back in August.

However, promoter Frank Warren later confirmed that Hrgovic had priced himself out of the bout, forcing Itauma’s camp to explore other opponents, including Michael Hunter and Adeleye. Now, the WBA has stepped in, ordering Pulev to make a mandatory defence of his title against Itauma, who currently holds the No.1 ranking in the WBA heavyweight division.

The sanctioning body has given both camps 30 days to reach an agreement, with a purse bid scheduled for November 14 if no deal is finalised.

‘The Committee requires Pulev to engage in a mandatory title defence against the next leading available contender and WBA #1 ranked contender, Moses Itauma.’

Pulev, 44, captured the WBA (Regular) belt in December last year after defeating Mahmoud Charr.

The Bulgarian veteran, who has shared the ring with former world champions Wladimir Klitschko and Anthony Joshua, was initially set to defend the title against Michael Hunter, but the fight fell through after Hunter signed to face Jarrell Miller instead.

The federal government has announced a new policy that lowers the admission requirements for tertiary institutions in which a credit in English Language and Mathematics will no longer be mandatory for certain degree programmes.

The change is aimed at broadening access and creating more inclusive pathways for students whose strengths lie outside the traditional core subjects.

Folasade Boriowo, director of press at the Federal Ministry of Education in a statement emphasised that the new policy is geared towards increasing access to tertiary education for more admission seekers than the nation’s institutions currently accommodate.

According to the statement, Tunji Alausa, the minister of education is not satisfied with the existing policy, which he noted fails to recognise fairness and creates room for imbalance.

‘Alausa explains that the reform has become necessary after years of restricted access that left many qualified candidates unable to secure admission.

‘Every year, over two million candidates sit the Unified Tertiary Matriculation Examination (UTME), yet only about 700,000 gain admission. This imbalance, he notes, is not due to a lack of ability but rather to outdated and overly stringent entry requirements that must give way to fairness and opportunity,’ the statement reads in part..

In addition, the statement reads, ‘The revised national guidelines for entry requirements into Nigerian tertiary institutions are designed to remove barriers while maintaining academic standards.

‘The new framework applies to universities, polytechnics, colleges of education, and Innovation Enterprise Academies (IEAs) across the country as follows..’

Universities: Minimum of five credit passes in relevant subjects, including English Language, obtained in not more than two sittings. Mathematics is mandatory for Science, Technology, and Social Science courses.

Polytechnics (ND Level): Minimum of four credit passes in relevant subjects, including English Language for non-science courses and Mathematics for science-related programs.

Polytechnics (HND Level): Minimum of five credit passes in relevant subjects, including English Language and Mathematics.

Colleges of Education (NCE Level): Minimum of four credit passes in relevant subjects, with English Language mandatory for Arts and Social Science courses, and Mathematics required for Science, Vocational, and Technical programmes.

Colleges of Education (B.Ed Level): Minimum of five credit passes, including English Language and Mathematics, as applicable to the course of study.

Innovation Enterprise Academies (IEAs): To adopt the same minimum requirements as Polytechnics for the National Diploma (ND) programme. The National Innovation Diploma (NID) is hereby abolished.

In addition, the National Industrial Diploma (NID) previously issued by Innovation Enterprise Academies will be phased out and replaced with the National Diploma (ND) to ensure uniformity, credibility, and progression opportunities for graduates. The National Board for Technical Education (NBTE) is currently re-accrediting all IEAs nationwide to align with the new ND standards. Institutions that fail to transition to full accreditation will be de-accredited.

Alausa explains that the reform has become necessary after years of restricted access that left many qualified candidates unable to secure admission. Every year, over two million candidates sit for the Unified Tertiary Matriculation Examination (UTME), yet only about 700,000 gain admission.

This imbalance, he said, is not due to a lack of ability but rather to outdated and overly stringent entry requirements that must give way to fairness and opportunity.

‘The reform is a deliberate effort to expand access to tertiary education, creating opportunities for additional 250,000 to 300,000 additional students to be admitted to Nigerian tertiary institutions each year,’ he emphasised.

This according to the statement reflects a firm commitment to ensuring that every Nigerian youth has a fair chance to learn, grow, and succeed, putting the Renewed Hope Agenda into action.

Besides, the minister emphasised that harmonising admission guidelines will help reduce the number of out-of-school youths, strengthen vocational and technical training, and align Nigeria’s tertiary education structure with global and industry standards.

He reiterates that young people remain the heartbeat of the nation, and the government is committed to equipping them with the education and skills they need to reach their full potential and contribute meaningfully to national development.

The current policy makes makes obtaining credit in both English and Mathematics at O’level mandatory for admission seekers, and this, according to Alausa, is found to be constituting barriers for those seeking admission into tertiary institutions in the country.

The University of Uyo has formally launched its institutional policy against sexual harassment, warning culprits against stiff punishment.

The unveiling ceremony, which drew dignitaries from diverse sectors, was held at the University TETfund Hall at the University main campus recently.

Nyaudo Ndaeyo, Professor and Vice Chancellor of the University, said the policy had declared no tolerance on all forms of sexual molestation.

Ndaeyo stressed that the policy would serve as deterrent to potential offenders and a commitment to justice for victims.

He reaffirmed the university’s dedication to accountability, transparency and protection of all members of the academic community.

Uduakabasi Ndaeyo, Wife of the Vice Chancellor, lauded the initiative as a necessary step in confronting societal evil that had lingered for too long. She stated that such effort would help address the scourge of sexual harassment in Nigerian tertiary institutions.

Valerie Asanwana, Chairperson of the Board of the Centre for Gender Studies, reiterated the University’s commitment to equity, excellence and respect for all.

According to her, the policy represents a significant step towards creating a campus culture, where sexual misconduct is neither tolerant nor ignored.

Asanwana disclosed that the policy outlines clear procedures for reporting investigating and resolving cases of sexual harassment in a transparent and victim -centered manner.

Providing a detailed overview, Luke Eyo, a member of the University’s Gender Advisory Board, said its contents and operational framework, underscores its role in ensuring justice and institutional integrity.

The difference between two persons, between good and evil, between life and death, or between success and failure may be decision, just decision.

One woman who has had many important decisions to take in her life is Omolara Joseph, simply Mummy Lara, wife of Bolarinwa Taiwo Joseph, a retired engineer.

Mummy Lara took perhaps her biggest decision in life when she chose Christ. She was a Muslim girl until she chose a new life. Today, she is a zonal pastor in the Redeemed Christian Church of God (RCCG) manning the Living Water zonal headquarters in the Mvuigwe section of Woji.

She has faced many other important moments in her life such as deciding who to be wife to, deciding what never to get involved in when she was in NAFCON in Onne, near Port Harcourt, or who to accept as sons-in-law, etc.

In life with Christ, she has also had very sensitive decisions to take, including to push ahead or run back.

The implication of all this is that Mummy Lara has no patience with those that don’t know when to make prompt decisions. This defines her. For her nature and decision-making attributes, many see her as tough. This is because a lot of people need others to take decisions for them. She will not tolerate that. She rather shouts you into awakening so you wake up and take up your responsibilities.

Mummy Lara clocked 69 last week, and on Sunday, October 12, she was celebrated by the Christian Community in Port Harcourt.

The hall was filled to capacity and drama groups, choirs, men and women rallied to hail the star in the Ministry. She was 30 years in ministry.

The entire ceremony was dominated with skits on her life and her nature of spiking and sparking others to what is right.

On the day, heavens rose in salute to a rare gem.

Nigeria’s consumer price has slowed to 18.02 per cent, helped by a further drop in food prices.

Food inflation month-on-month fell to -1.57 per cent in September.

According to the National Bureau of Statistics, the Consumer Price Index declined to 18.02 per cent in September 2025, the sixth consecutive month from 20.12 per cent in August 2025. On a month-on-month basis, the headline inflation rate in September 2025 was 0.72 per cent.

The Rivers State House of Assembly will take urgent legislative steps, as well as engage the state executive arm, in the bid to address the recurring issue of flooding.

This was as floods in parts of the Port Harcourt metropolis on October 11, 2025, following days of heavy downpour, wreaked havoc on residents, sweeping two teenagers to their death.

Martin Amaewhule, Speaker of the state House of Assembly, on October 13, 2025, during a visit to the family of Oyechi Peter, whose 16-year-old son and 17-year-old brother drowned during Friday’s heavy downpour in Eligbolo community, Obio/Akpor Local Government Area, assured of the Assembly’s commitment to improving environmental laws in the state. He said, ‘We will do the needful from the legislature, and we will convey them to the executive, and we will follow up.’

Amaewhule pointed out that the problem of flooding ‘is not peculiar to Eligolo. It’s a general problem. The issue of flood water is a general problem across the state.

‘Within Port Harcourt metropolis, it’s quite challenging. Drains are blocked. The canals need to be cleared, and there needs to be proper desilting of canals and other channels, so that water can cross to the rivers around us, up to the Atlantic Ocean.

‘So there needs to be a conscious effort, a deliberate effort to address this matter frontally, and I think that is the best way to go. ‘And we will do what is necessary to draw the attention of the Rivers State government to this challenge, not only to Eligbolo Town, but the entire state,’ he said. Amaewhule not that there is urgent need to embark on clearing of canals to allow for free flow of stormwater.

‘There’s need for the Rivers State government to look into the issue of clearing our canals, making them properly able to contain the flood water around the state.

‘I have seen for myself this situation. I want to assure you that I will do the needful,’ he said, while urging residents to avoid living in flood-prone areas.

Mbe Daniel Mbe, director of the Center for Disaster Risk Management and Development Studies at the University of Port Harcourt, has called for strident efforts to reduce the impact of flooding and other disasters.

Mbe, who was speaking at an event to mark the 2025 International Day for Disaster Risk Reduction, said getting young people involved in disaster response and mitigation will help build a safer and more sustainable future.

He pointed out that ‘when disasters strike, there is physical and human capital loss. There is also displacement of families and loss of human lives.’

Something BIG is coming to Lagos this World Food Day, and if you haven’t marked your calendar, it is about time you did so.

It’s the Eko World Food Day Fair.

Happening on Thursday, October 16th, 2025, the British American Tobacco Nigeria Foundation (BATNF) invites stakeholders and the general public to a remarkable day dedicated to empowering farmers and strengthening local food systems. The event aims to bring together farmers, consumers, development partners, and community stakeholders in a shared effort to promote food security, empower local producers, and celebrate the people who feed our communities.

The Fair, themed ‘Hand in Hand for Better Foods and Better Future’, is more than just an event; it’s a direct intervention to foster food security by making food affordable and empowering the backbone of Nigeria’s food system-our smallholder farmers.

By registering for and attending the fair, you directly contribute to sustainable agriculture and community impact by supporting local farmers and securing high-quality produce.

The fair provides a unique platform for smallholder farmers and agripreneurs to showcase their produce, connect directly with consumers, and secure fair market value for their goods. Beyond promoting local sourcing and sustainable agriculture, the event reinforces BATNF’s commitment to improving livelihoods and strengthening food systems through inclusive market opportunities.

Event Details

Date: Thursday, October 16th, 2025

Time: 10:00 AM

Venue: Ikeja Police College Field

Theme: Hand in Hand for Better Foods and Better Future

The fair will spotlight smallholder farmers’ access to markets, promote fair trade, and highlight sustainable solutions driving agricultural growth across Nigeria. Download the BATN Foundation on the iOS or Google Play Store today and register to make sure you don’t miss out on the incredible prices and other opportunities in celebrating community impact and sustainable agriculture

The United Kingdom has announced new immigration reforms that will require migrants to demonstrate a higher level of English proficiency before being allowed to live and work in the country.

Under the new rules, applicants for skilled worker, scale-up, and high potential individual (HPI) visas will need to attain at least a B2 standard in English, equivalent to A-level proficiency, an upgrade from the current B1 level, which aligns with GCSE standard.

The measure, which takes effect on 8 January 2026, is part of the government plan to cut migration levels and strengthen social integration.

Shabana Mahmood, Home Secretary, said the government’s decision reflects its commitment to ensuring that migrants can fully participate in British society.

She stated that people coming to the UK must learn the language and contribute meaningfully to the national community.

‘This country has always welcomed those who come here and contribute. But it is unacceptable for migrants to arrive without learning our language or being able to engage in our national life’, Mahmood said.

Under the new policy, applicants will be tested in person across four areas, speaking, listening, reading, and writing, at Home Office-approved centres.

Their results will be verified before a visa is issued. The change will primarily affect those seeking skilled worker visas, scale-up visas for fast-growing businesses, and high potential individual visas available to recent graduates from top global universities. Skilled worker visa holders must be employed by approved companies and earn at least £41,700 a year, or the ‘going rate’ for their role, whichever is higher.

According to the British Council, individuals who reach B2 level can understand complex texts on various topics, express themselves fluently and spontaneously, and write detailed, coherent text on a wide range of subjects. The Home Office said additional English proficiency requirements for other visa routes and family dependants will be introduced in the near future.

The new language requirement is part of immigration white paper released in May, which seeks to make the UK’s immigration system ‘controlled, selective and fair.’

Home Office estimates suggest that the measures could reduce annual migration by up to 100,000 people. Net migration fell to 431,000 in 2024.

Governor Douye Diri of Bayelsa State has resigned his membership of the Peoples Democratic Party (PDP), in preparations for his defection to the ruling All Progressive Congress (APC).

The had announced his resignation from the main opposition, PDP, on Wednesday, taking with him, 23 members of the State House of Assembly.

Daniel Alabara, the Governor’s spokesperson, confirmed the resignation on Wednesday, October 15, 2025.

He disclosed that Governor Diri will be pitching his tent with the All Progressives Congress (APC).

This confirmation ends months of speculations over the sensitive issue of the governor’s defection to the ruling APC.

Prior to his movement from the party, Governor Diri recently headed the PDP National Elective Convention Organising Committee which approved the zoning of the party’s 2027 presidential ticket to the Southern part of the country.