Connect with us

Business

Reps to Celebs: Stop Promoting Fraud

Published

on

By Ifeoluwa Odunayo

The House of Representatives on Thursday warned public figures, celebrities, and influencers against endorsing unregistered investment schemes, following the collapse of a cryptocurrency platform, CBEX, that reportedly trapped over ₦1.3 trillion in investors’ funds.

In a statement issued by the House Spokesman, Rep. Akin Rotimi Jr., the lawmakers cited the newly enacted Investments and Securities Act (ISA) 2025, signed by President Bola Tinubu, which now criminalises ponzi schemes and imposes stricter penalties, including up to ten years imprisonment.

CBEX, which was not registered with the Securities and Exchange Commission (SEC), is under investigation, with the EFCC working alongside Interpol to track the perpetrators and recover funds.

The House urged Nigerians to verify investment offers with regulators, stressed the importance of financial literacy, and called on media, schools, and civil groups to support efforts to combat fraudulent schemes.

Public figures were reminded of their legal liability under the new law for promoting deceptive financial platforms.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Dangote Holds Fuel Price Steady

Published

on

By Adewunmi Oluwaseun 

Despite the rising cost of crude oil on the global market, Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to keeping petrol prices stable for Nigerian consumers.

The company said its decision to maintain affordable pump prices amid international volatility reflects its firm dedication to supporting the nation’s economy and easing the burden on the public.

According to a statement from Group Chief Branding and Communications Officer, Anthony Chiejina, the move aligns with the Federal Government’s Nigeria First policy and President Bola Tinubu’s Renewed Hope Agenda.

“Refining locally at the world’s largest single-train refinery strengthens Nigeria’s energy security, conserves foreign exchange, and boosts economic resilience,” the statement noted.

The firm praised the President’s Naira-for-Crude initiative, which it said has enabled consistent price cuts on petroleum products.

The refinery also assured stakeholders of its continued focus on affordability, quality and national interest in its operations.

Meanwhile, the refinery has taken delivery of 146,000 metric tonnes of crude oil, with another 125,000 metric tonnes expected soon.

Additionally, three vessels have arrived to lift jet fuel exports, further positioning the facility as a key player in the global energy market.

Continue Reading

Business

Africa Pushes for Cheaper Flights, Seamless Skies

Published

on

By Oso Abidemi 

Top aviation leaders from seven West African countries have renewed the call for urgent adoption of a single air transport market to lower ticket prices and improve connectivity across Africa.

Speaking at the 18th plenary of the Banjul Accord Group in Abuja, Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, said implementing the Single African Air Transport Market (SAATM), would transform travel on the continent.

“It is time Africa connected itself more. SAATM will make flights shorter, cheaper, and more efficient,” he said.

Keyamo described SAATM as a key driver for realizing the African Union’s Agenda 2063 and boosting global competitiveness.

Also speaking, Secretary-General of the African Civil Aviation Council, Adefunke Adeyemi, urged countries to embed SAATM into their national laws and empower aviation regulators to make it work.

Nigeria’s Civil Aviation chief, Captain Chris Najomo, called the meeting an opportunity to tackle major challenges such as infrastructure gaps, skilled manpower shortages, safety risks, and digital transformation.

The gathering includes aviation authorities from Nigeria, Ghana, Liberia, Sierra Leone, Guinea, Cape Verde, and Gambia.

With firm backing from regional lawmakers and regulatory bodies, the push for unified skies across West Africa is gaining momentum.

Continue Reading

Abuja Reports

Abuja: Tinubu, Akpabio Lead Talks on Real Estate Reform

Published

on

By Ekaete Bassey

President Bola Ahmed Tinubu and Senate President Godswill Akpabio are billed to headline the 55th Annual National Conference and Annual General Meeting of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), in Abuja.

The week-long event, themed “Transform, Invest, Thrive: Optimising Real Estate Finance and Taxation,” will run from May 5 to 10 at the Abuja Continental Hotel.

A statement by NIESV’s National Publicity Secretary, ESV Richard Olodu, confirmed Tinubu will serve as the special guest of honour, while Akpabio will attend as guest of honour.

The conference aims to chart a transformative path for real estate development through deeper fiscal reforms and investment strategies.

Also expected at the high-powered gathering are Minister of the Federal Capital Territory, Nyesom Wike; Minister of Housing, Ahmed Dangiwa; and Minister of Finance, Wale Edun.

Chairman of the Federal Inland Revenue Service and Presidential Adviser on Revenue, Dr. Zacch Adedeji, will deliver the keynote address, expected to dissect current tax policies and their impact on property financing.

NIESV President, ESV Victor Adekunle Alonge, has extended an open invitation to estate professionals, public sector leaders, investors and diaspora stakeholders to partake in what he described as a defining moment for Nigeria’s real estate sector.

The conference is projected to offer insights capable of unlocking economic growth, with real estate positioned as a strategic anchor.

Continue Reading

Trending