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Dangote Squashes Opposition’s Claim, Endorses Tinubu Publicly

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By Ade Iyamoye

Amid mounting political opposition and growing public debate on President Bola Ahmed Tinubu’s performance since he assumed office, Africa’s richest man, Aliko Dangote, has public endorsement reinforces confidence in the administration’s developmental strides and counters narratives that the government has made little or no impact.

Dangote applauded Tinubu’s transformative leadership, commending his interventions in infrastructural development and environmental resilience, particularly the landmark Bar Beach land reclamation project in Victoria Island, Lagos.

In a rare open letter, made public through Thisday newspaper, Dangote described the Bar Beach initiative, which led to the creation of Eko Atlantic City, as a visionary move that ended years of ocean surges and flooding in one of Nigeria’s most economically vital districts.

He said, “This project… has transformed a coastline once prone to incessant floods into an emerging new district with a defining skyline and a magnet for direct investment and socioeconomic growth.”

Dangote highlighted the 1,000-hectare city, protected by an 8.5km sea wall and constructed through sand dredging from the Atlantic Ocean, as one of Tinubu’s enduring legacies; now home to residences, businesses, and recreational spaces.

He stressed that those living in Victoria Island have greatly benefitted from the vision first conceived by Tinubu in 2008.

The industrialist drew global parallels, likening Tinubu’s foresight to land reclamation efforts in the Netherlands, where submerged land was successfully transformed into habitable terrain.

Dangote also used the opportunity to slam critics who question the President’s impact over the last two years. He contrasted the opposition’s narrative with what he described as tangible achievements, most notably, the Lagos-Calabar coastal highway and the Sokoto-Badagry superhighway projects, both of which he said have revived Nigeria’s ageing infrastructure plans.

“Mr. President, you added another feat by kickstarting the Lagos-Calabar coastal highway and the Sokoto-Badagry superhighway, significantly enriching the country’s stock of infrastructure while improving the national road network,” he wrote.

As a further show of support and commitment to climate resilience, Dangote announced that the Aliko Dangote Foundation will soon launch a Climate Fund targeting vulnerable flood-prone communities across Nigeria.

He then offered prayers for Tinubu’s continued wisdom and success, stating that his leadership is enabling a “more prosperous nation for the collective good.”

“Thank you very much, Asiwaju!” Dangote signed off, in a strong note of affirmation.

Business

CBN Restores BDC Access to FX Market, Caps Weekly Purchases at $150,000

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By Huldah Shado

The Central Bank of Nigeria (CBN), has approved the participation of licensed Bureau De Change (BDC), operators in the Nigerian Foreign Exchange Market (NFEM), allowing each BDC to purchase up to $150,000 weekly.

The approval was contained in a circular dated February 10, 2026, signed by the Director of the Trade and Exchange Department, Dr. Musa Nakorji, and addressed to authorised dealer banks and the general public.

The CBN said the move is aimed at improving foreign exchange liquidity in the retail segment of the market and meeting the legitimate needs of end users, amid a widening gap between the official and parallel market exchange rates.

Under the new arrangement, licensed BDCs can access foreign exchange from the NFEM through any authorised dealer bank of their choice at the prevailing exchange rate.

The apex bank directed banks to carry out full Know-Your-Customer (KYC), and due diligence checks on BDC clients before selling foreign exchange to them.

It also imposed reporting and transparency requirements, mandating BDCs to submit returns electronically to the CBN.

In addition, the bank prohibited third-party transactions and limited cash settlement to a maximum of 25 per cent of each transaction.

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Abuja Reports

Ultraviolet MFB MD Visits Equity Circle, Eyes Strategic Partnership

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By Samson Adeyanju 

The Managing Director and Chief Executive Officer of Ultraviolet Microfinance Bank, Bayonle Omoyele, has paid a working visit to Equity Circle, one of Abuja’s fast-growing real estate companies, as part of efforts to strengthen strategic partnerships within Nigeria’s real estate sector.

During the visit, Equity Circle’s Co-Founder and Chief Marketing Officer, Fabian George, conducted Omoyele on a tour of the company’s facilities and outlined its growth trajectory.

He disclosed that the firm recorded significant milestones over the past four years, culminating in an ₦8 billion revenue in the 2025 financial year.

Discussions between both parties focused on establishing a strategic credit relationship, with proposed areas of collaboration including invoice discounting, structured credit solutions, and cash-flow management support to help Equity Circle sustain and scale its operations.

Addressing Equity Circle staff during an interactive session, Omoyele emphasised the importance of strong marketing fundamentals, highlighting the 4Ps of marketing-Product, Price, Place, and Promotion, as key drivers of long-term competitiveness and brand leadership.

He also urged the team to adopt a long-term growth mindset, remain focused, and ensure that every unit contributes meaningfully to the organisation’s strategic goals, noting that disciplined execution is critical in Nigeria’s evolving real estate market.

The visit underscores Ultraviolet Microfinance Bank’s commitment to supporting high-growth enterprises through tailored financial solutions and partnerships that promote sustainable economic development.

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Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

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By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

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