AFOLABI

AFOLABI

Nollywood actress and producer Iyabo Ojo has celebrated after her movie, Labake Olododo earns over N50m in Nigerian box office.
 
The milestone was reached during the film's opening weekend.
 
 
Announcing the feat, movie producer, Kudirat Morenikeji Ogunro tagged Iyabo Ojo on Instagram and wrote:
 
"QUEEN MOTHER ALERT!
 
Huge congratulations to @iyaboojofespris on hitting 50 MILLION highest-grossing movie of the weekend... and still counting!
 
Eyintemi , Oya, let’s go!
 
NEXT STOP: SURULERE FILM HOUSE!
 
Join me TODAY at Surulere Film House to watch the unstoppable Labake Olododo!
 
Your celebrity, @kudi_alagbo , will be live and in person, selling tickets and meeting fans before the show!
 
Don’t miss out!
 
Bring your friends, family, and loved ones!
 
Spread the word!
 
Tell a friend to tell a friend!
 
God bless you all as you come!"
Afrobeats singer, Emmanuel Adewale aka Mayorkun, has revealed he's planning to relocate abroad.
 
His decision comes amid the hardship in the country.
 
 
The Mayor of Lagos crooner disclosed this via social media on Monday.
 
On his X handle, he wrote, “I dey reason to japa [relocate].”
 
In recent years, the number of Nigerian celebrities moving abroad has significantly increased.
 
Notable figures such as Tacha, Eldee, Dr. Sid, Genevieve Nnaji, Omotola Jalade Ekeinde, Rita Dominic, Uche Jombo, Emeka Ike, and many others have relocated from the country within the past decade.
 
Last year, veteran singer Banky W announced that he had relocated to the United States with his family for educational purposes
Nigerian socialite, DJ Cuppy has revealed the name of her ‘Christian husband.’
 
The daughter of billionaire, Femi Otedola, in a post X also celebrated finding peace after being single for so long.
 
  
She revealed that she decided to create her own Christian husband which she named ElijahGPT.
 
She wrote:
 
“After being single for SO long I finally found peace…
I’ve decided to create my own Christian husband via AI. His name is ElijahGPT.
 
He leads Bible study, speaks in tongues, sends daily devotionals, asks how my spirit is doing, and never forgets our anniversary. My guy even tithes digitally ?
 
#AprilFoolsDay”
 
Reactions have trailed the post …
@tolashealameen said: “Small small, it gonna affect you mentally on the long run”
 
@omorogiec wrote: “Someone check on Cuppy!
 
This ain’t sounding like April fool at all…”
 
@evul_mastermind said: “Nice one ?
But sha make person no use proposal do u April fools day”
 
@tolashealameen said: “You are acting as if deep down your singleness is eating you up(it’s obvious for people like me to sense)”
 
@Jeffosky1 said: “Cuppy just free your mind, submit totally to God and keep doing your works while God arranges everything about your life which includes a decent relationship with a godly, diligent and loving man that will culminate in and enduring marriage. That’s all”
 
Check out post below
 
 
A human rights lawyer, Inibehe Effiong has lamented that Nigeria is not improving anytime soon.
 
He made the submission in a post on his X page.
 
According to him, the rot, corruption, and partisanship in the police are despicable.
 
The statement comes after the police called for the cancellation of the Okene rally in honor of Senator Natasha Akpoti-Uduaghan based on an intelligence report.
 
 
The Kogi State Police Command also called on the organizers of the planned rally to cancel the event in the interest of peace in the state.
 
The Kogi State Government had banned rallies and public gatherings in the state over alleged “security reports.”
 
The government also stopped fishing and other activities, lamenting that fishing activities had resulted in the loss of two lives in Kasemiya, Katubo, and Umozu Ette, all in Kogi Local Government Area in Kogi West.
 
Earlier, Akpoti-Uduaghan said that she would not back down on her plan to return to her constituency for the Sallah break.
 
She also urged her supporters to discard speculations circulating that she had canceled her scheduled visit.
 
However, the human rights lawyer said that the organizers should ignore the “useless” statement and proceed with their rally.
 
He said: “Nigeria is not improving anytime soon.
 
“The rot, corruption, and partisanship in the police are despicable.
 
“The organizers should ignore this useless statement and proceed with their rally.
 
“The courts and the law have made it clear that the only role of the police in political rallies is to provide adequate security, and that the police cannot disrupt rallies because of alleged apprehension of hijack or violence by ‘hoodlums.’
 
“I urge Senator Natasha and her supporters to defy the police and the governor.”
The All Progressives Congress (APC), Labour Party (LP), New Nigeria Peoples Party (NNPP), and Social Democratic Party (SDP), have lost members to the Peoples Democratic Party (PDP) in Okpokwu Local Government Area of Benue State.
 
This comes after a large number of individuals from the parties joined the PDP in the state.
 
 
The defectors blamed the ruling party for poor performance and failure to address the security situation in the state, from the federal to the state level.
 
Speaking at the defection event on Monday, leaders of the group, including Onah Idoko Alexander, John Adole, Engr. Adegbo Moses, Mike Ejeba, Ocheme Candidus, and Abah Ejeh, said the ruling APC has failed woefully.
 
They hailed Senator Abba Moro for his developmental strides across Benue South. They described him as a rare leader who has positively impacted almost every community in the district.
 
“We are defecting to your party from several political parties because of the quality leadership and representation you are providing in the Senate. You have touched almost every community in Benue South, and we have realized that there is no leader like you,” the defectors said.
 
An elated Senator Moro welcomed the new PDP members, assuring them of equal rights and opportunities within the party.
 
He reiterated his commitment to providing effective leadership and representation for the overall good of Benue South.
 
The defection event, which had a carnival-like atmosphere, was attended by key political figures, including the Minority Leader of the Benue State House of Assembly, Rt. Hon. Mike Audu, and the Okpokwu Local Government PDP Chairman, Hon. Christopher Okpabi, among other dignitaries.

Nigerian medical doctor and author Kelvin Alaneme has vowed to sue the British Broadcasting Corporation (BBC) for defamation, insisting that allegations against him are false.

Alaneme, accused of running an immigration scam through his agency CareerEdu, maintained that he is helping Nigerians relocate abroad, stating, “I have never scammed or defrauded anyone in my life, and I never will.”

BBC ‘Africa Eye’ investigation claims Alaneme charged $13,000 for fake UK care job visas. A secretly recorded BBC report exposed the operations of UK immigration fraudsters, revealing a surge in scams since the UK expanded its visa scheme in 2022 to include care workers. The scheme requires applicants to secure a Certificate of Sponsorship (CoS) from a licensed UK employer, a process that has fueled fraudulent activities.

Between July 2022 and December 2024, the UK government revoked over 470 care sector licences, affecting more than 39,000 foreign medical professionals and care workers recruited since 2020.

The BBC linked Alaneme to fraudulent relocation services, alleging that he provided job placements that did not exist.

In an undercover recording, Alaneme, believing he was speaking with a business partner in the UK care sector, attempted to recruit her, saying, “Just get me care homes. I can make you a millionaire.”

He explained he would pay £2,000 ($2,600) for each care home vacancy she secured, plus a £500 ($650) commission. These positions were allegedly sold to Nigerian applicants.

The BBC also found that Efficiency for Care, a company tied to the scam, issued 1,234 CoS between March 2022 and May 2023 despite employing only 16 people in 2022 and 152 in 2023.

The UK government revoked its sponsorship licence in July 2023, preventing it from hiring foreign workers.

In another secretly filmed meeting, Alaneme detailed how migrants could obtain CoS for non-existent jobs, with fake payroll records disguising the fraud.

 

One alleged victim, Praise, claimed he paid Alaneme over £10,000 ($13,000) for a job with Efficiency for Care in Clacton-on-Sea, only to discover upon arrival that the job did not exist.

Denying the allegations, Alaneme emphasised that CareerEdu does not employ care workers but only connects candidates with legitimate recruiters.

“We are not Care Job employers in the UK. We have always made this clear. Our job is to link qualified employees to legitimate and licensed employers and recruiters who do provide Certificate of Sponsorship,” he said, adding that some recruiters charge additional costs for training, transport, and accommodation.

“In the event that these clients are not successful, they do get a full refund of these extra costs, no questions asked.”

 

When challenged online to sue the BBC if his business was legitimate, Alaneme responded, “We’ll do that.”

The Nigerian doctor further accused the BBC of bias, saying, “If the BBC really wanted to do a ‘real story,’ there are many individuals exploiting people, issuing fake CoS, and outrightly scamming people… We have done none of this, yet they insist on putting out this one-sided falsehood. I believe that the truth will win and posterity will vindicate the just.”

The Minister of Communications, Innovation and Digital Economy, Olatunbosun Tijani, has described President Bola Tinubu as a leader who is capable of tackling the country’s multifaceted challenges.

Tijani made the remark on Monday while speaking to newsmen at the inauguration of a solar-powered community ICT centre in Abeokuta, facilitated by the National Information Technology Development Agency.

He claimed that his criticism of political leaders, including President Bola Tinubu, was borne out of his desire for a better Nigeria.

The minister said his decision to serve under Tinubu was driven by his belief in the President’s leadership.

Tijani stated, “It was not about how easy, it was about intention, because leadership is about intentions.

“When you come close to President Bola Tinubu, you will know that Nigeria is fortunate to have someone like him. Let’s leave politics aside and examine the development trajectory under his administration.

“This is the first president who has made it easier for every young Nigerian to access education, regardless of their background, through the student loan scheme.

“This is also the president who removed the fuel subsidy, a long-standing burden on Nigerians, and is now redirecting those resources to national development.

“He has significantly reduced the country’s debt servicing obligations, freeing up funds for critical projects.

“So, for me, it was not difficult to accept to work under such a man. I wasn’t critical of past governments because I was a politician but because I wanted a better society. And there is no better person to work with to achieve that than President Bola Tinubu.”

Tijani’s remarks come after Senate President Godswill Akpabio, during a special Iftar marking Tinubu’s 73rd birthday at the Presidential Villa, Abuja, recalled that the minister’s nomination was met with strong resistance due to his previous criticisms of the government.

The second term bid of President Bola Ahmed Tinubu, Monday, got a boost with the Founder, Tantita Security Services Limited, Chief Government Ekpemupolo (a.k.a Tompolo) and the Host Communities of Nigeria Producing Oil and Gas (HOSTCOM)  announcing the endorsement of Tinubu by the Niger Delta for a second term come 2027.

While contending that no leader anywhere in the world can build the future in four years, they said this had made it imperative to allow the president another four-year tenure.

 
 

HOSTCOM National President Dr Benjamin Styles Tamaranebi and other supporters of Tompolo, made the position known at a press conference in Abuja.

He said the decision was arrived at by the Niger Delta stakeholders following Tinubu’s track record in the last two years.

Tamaranebi said: “When he assumed office, oil production was plummeting, and debt servicing consumed nearly all revenue. Many doubted his ability to lead, but Tinubu rolled up his sleeves and got to work. In less than two years, the results speak for themselves.”

 

Declaring a ‘no vacancy’ stand in Aso Rock, they said their choice of Tinubu was informed by how the Nigeria leader halted the twin evils of oil theft and pipeline vandalism, which according to them, had made Nigeria’s economy comatose in the last 20 years.

Tamaranebi said:  “We, leaders and indigenes of the Host Communities of Nigeria Producing Oil and Gas in collaboration with our grand patron, High Chief (Dr) Government Ekpemupolo alias Tompolo, are fully endorsing and committed to supporting Asiwaju Bola Tinubu for re-election in 2027.

“We took this position after a thorough evaluation of Tinubu’s performance in less than two years of his first term and in obedience of clearly unambiguous directives of our patron, Ekpemupolo, who also scored “Mr President high in human development Indices, especially as they favoured the Niger Delta region and believed our President should remain in office till 2031 to enable him to conclude ongoing development initiatives across the six geopolitical zones of the country.

“The Tinubu administration is not just fixing the present; it is building the future. Alongside Tompolo, we endorse Tinubu for 2027. Our reason is simple: President Bola Ahmed Tinubu has delivered. He has steadied the ship. He has empowered local communities and needs more time to finish what he started.”

They further said: “For decades, oil theft and pipeline vandalism crippled our economy, devastating the lives of host communities. Through strategic partnerships with Tantita Security Services Nigeria Limited (TSSNL) and other security agencies, Tinubu has reduced oil theft to historic lows.

 

“Oil production has surged from a mere 600,000 barrels per day to 1.8 million. Nigeria is reclaiming its rightful place in the global oil market. More importantly, security in the Niger Delta has significantly improved, curbing crude oil theft and ensuring that resources serve the nation.

“Politics is about choices. In 2027, Nigerians must choose between continuity and chaos, between stability and the unknown.

“The future cannot be built in four years. It takes patience, persistence, and vision—qualities Tinubu has consistently demonstrated. His leadership has been a turning point for Nigeria, setting the nation on a path to prosperity. It is crucial to consolidate these gains rather than disrupt progress,” the group also noted.  

HOSTCOM also applauded the Tinubu administration for successfully implementing the Petroleum Industry Act (PIA), ensuring billions of naira flow into community trust funds for local development projects such as schools, hospitals, and water schemes in nearly 200 locations across the Niger Delta.

Tamaranebi, who cautioned against disrupting the ongoing initiatives said: “But stability requires time and continuity. A change in leadership now would bring uncertainty and risk reversing the progress made so far.”

They also listed the infrastructure development under the administration to include; “ Lagos-Calabar Coastal Highway, now under construction;     Sokoto-Badagry Highway,  set to enhance connectivity between the North and South-west;     East-West Highway, Benin-Warri Highway, Asaba-Benin Highway, and Abuja-Benin Highway, under construction or rehabilitation, and     Second Niger Bridge Access Road , officially flagged off last week.”

Additionally, the group acknowledged the administration’s focus on energy security, citing successes in the Dangote Refinery as well as the revival of the Warri and Port Harcourt Refineries.

The stakeholders who also commended Tinubu for signing the South-South Development Commission Bill into law, appealed to him on the ongoing political crisis in Rivers state, and urged all parties to embrace peace.

The HOSTCOM leader highlighted Tinubu’s economic policies and strategic reforms, particularly in tackling dwindling crude oil production and excessive debt servicing.

“When he assumed office, oil production was plummeting, and debt servicing consumed nearly all revenue. Many doubted his ability to lead, but Tinubu rolled up his sleeves and got to work. In less than two years, the results speak for themselves,” the communities said.

…On Rivers political crisis

While commending President Tinubu for signing the South-South Development Commission Bill into law, the stakeholders appealed for his intervention in the ongoing political crisis in Rivers state which recently led to the proclamation of emergency rule in the state.

“We want to seize this opportunity to appeal and beg Mr. President, as the father of the nation, to use his good offices to ensure an amicable resolution of the political imbroglio, which has engulfed River State. We urge Mr. President to prevail on the warring groups in Rivers State to sheathe their swords and embrace peace in the interest of the people.

 

“We know and trust that Mr. President has the capacity to restore peace and sanity in the crisis-torn state. We are convinced beyond a reasonable doubt that even his detractors are now better informed as he has silenced them and changed the landscape of our beloved country for good,” they pleaded.

At the media parley were Chairman Traditional Rulers of the People of South-South Chief Ese Omafuakpo; Chairman Council of Chiefs Chief Obong Udo and the Adua Tein 1 of Ijaw Izonbe Timi Alaibe.

The Police Service Commission (PSC) and the Nigeria Police Force have approved April 12, 2025 as the commencement date for the training of successful candidates in the ongoing 2025 recruitment of constables.

The head of Press and Public Relations at the PSC, Ikechukwu Ani, stated this in a statement weekend in Abuja.

He urged applicants who participated in the recently concluded medical screening, held from 26 February to 12 March, to check their application status.

He said such candidates must print their training call-up slip by logging onto the recruitment portal at https://apply.policerecruitment.gov.ng.

“The portal will be open from March 31.

“Successful candidates must report to their designated police training institutions on the date and time indicated on their call-up slip for documentation,” Ani stated.

He stated that the documentation period at training schools was scheduled for between 12 April and 19 April.

“Candidates who fail to report within this time frame will be considered to have declined the offer.”

He added that candidates must report in a clean white T-shirt and shorts.

The candidates are also to bring their training call-up slip, application form, submission slip, NIN slip, BVN slip, original and photocopies of certificates, and other required documents listed on the recruitment portal.

The PSC chairman, Hashimu Argungu, congratulated the successful candidates and urged them to dedicate themselves to ensuring the security of lives and property. (NAN)

… UBA FX Gains Dropped By N477.5bn

 

 

Nigeria’s first-tier banks are no longer celebrating bumper foreign exchange gains as the Central Bank of Nigeria has narrowed avenues for arbitration.

At least three tier-one banks suffered N1.16tn losses, while N477.5bn slashed United Bank for Africa’s (UBA) foreign exchange gains in the full year of 2024 as the spread between the official forex and parallel market rates fell below one per cent.

The tier-one banks that were most affected by the losses are Zenith Bank Plc, First Bank of Nigeria Holdco, Guaranty Trust Holdco, and United Bank for Africa.

Zenith Bank is the biggest loser in foreign exchange deals as the group suffered a foreign exchange revaluation loss of N1.1tn by the end of 2024, according to its full-year books analysed by THE WHSITER.

Out of the N1.16tn total loss declared by tier-one banks in 2024, Zenith Bank’s loss accounted for over 94 per cent during the period.

In the 2023 financials, Zenith Bank posted a staggering N358.1bn gain arising from foreign exchange revaluation. This was the period when the naira was rapidly declining.

Zenith Bank said, “The year witnessed significant volatility in the foreign exchange of naira against the dollar, from about N977/US$ in Q4 2023 to 1,535/US$ as of 31 December 2024.

“The CBN narrowed the spread between the various foreign exchange segments of the market, an indication of price discovery and improved market efficiency, thus reducing opportunities for arbitrage and speculation.”

First Bank Holdco posted a foreign exchange loss of N62.59bn in 2024.

Although the lender posted a loss, the N62.56bn was an improvement compared to N334.2bn foreign exchange loss that the group posted in 2023.

A breakdown showed that FBN posted a foreign exchange trading loss of N96.43bn, but the losses were reduced by a forex revaluation gain of N33.83bn, making the net forex loss to become N62.59bn in 2024.

Guaranty Trust Holding Company (GTCO) suffered an unrealised foreign exchange loss of N1.9bn in 2024 based on the company’s financials.

In 2023, the bank declared an unrealised foreign exchange gain of N74.5bn.

 

An analysis of the United Bank for Africa’s financial report for December 2024 shows that its “net trading and foreign exchange gain fell to N181.8bn from N659.3bn,” which it recorded in the 2023 full year.

This reflects a 72.4 per cent slash in the gains it made in 2023, when the naira depreciated by about 94 per cent following the introduction of a managed float.

A breakdown of UBA’s net trading and foreign exchange income showed that, unlike the N457.2bn posted as net fair value gain on derivatives in 2023, UBA suffered a shocking loss of N342.2bn in 20204.

This impacted the group’s net trading and foreign exchange income gain from the N659.3bn made in 2023 to N181.8bn in 20204.

In 2023, many banks posted huge foreign exchange gains. It is estimated that banks made a foreign exchange revelation gain of around N3.3tn in 2023.

Financial expert and the co-founder of Dairy Hills, Kelvin Emmanuel, had accused banks of using their foreign exchange position to speculate against the currency.

Kelvin said, “One important decision CBN took to stabilise the FX markets last year was to harmonise reporting requirements for foreign currency positions of (especially) tier 1 banks — these are open positions net of maturing foreign currency obligations.”

The CBN, led by Olayemi Cardoso, took a major step to defend the currency by introducing a policy limiting banks’ net open positions.

In January 2024, the Trade and Exchange Department of the CBN issued a circular dated January 31, 2024, limiting the Net Open Position (NOP) of overall foreign currency assets and liabilities of banks to not more than 20 per cent short or zero per cent long of shareholders’ funds unimpaired.

The Circular also directed banks whose current NOP exceeded 20 per cent short and zero per cent long of shareholders’ funds unimpaired by losses to bring them to the prudential limit in February of the same year.

Some insiders in the CBN alleged that as of the time of the circular, about five tier 1 banks had $5bn onshore that had been used to speculate on the currency against the zero per cent long and 20 per cent short that the new circular required.

On October 2, 2024, the CBN introduced the Electronic Foreign Exchange Matching System (EFEMS) for conducting foreign exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM).

“The masterstroke that has compelled and checkmated the banks is the transition from managed float to NFEM matching system (that’s completely electronic),” said Kelvin.

The CBN said the EFEMs would reduce speculative activities, eliminate market distortions, and give the CBN improved oversight capabilities to effectively regulate the market.