Billionaire businessman Femi Otedola has further increased his investment in First HoldCo Plc, acquiring an additional 147.74 million shares worth ₦20.68 billion as he continues to strengthen his position in the financial services group. The latest purchase was executed on August 14, 2026, at ₦140 per share through Calvados Global Services Limited, an investment vehicle…
The United States Coast Guard has lifted a 12-year Condition of Entry (CoE) imposed on vessels arriving in the United States from Nigeria, in what the Federal Government described as a major boost for the country’s maritime sector. The restriction, introduced in June 2014, required vessels that had recently called at designated Nigerian ports to…
About $420 billion in market value was reportedly erased from U.S. stocks at the market open, as rising Treasury yields and renewed concerns over the bond market weighed heavily on investor sentiment. The sell-off comes amid a broader global bond-market rout that has pushed long-term government borrowing costs to multi-year highs. On Tuesday, the yield…
The National Drug Law Enforcement Agency (NDLEA) has arrested Lagos socialite and luxury-goods dealer Afolabi Kazeem Michael, popularly known as KC Luxury, following the seizure of 184.5 kilogrammes of cocaine from a courier company in Lagos. The NDLEA described the operation as the largest cocaine seizure from a courier firm in its history. The agency…
BlackRock has described Bitcoin’s roughly 50% decline from its October 2025 peak as a “positioning correction,” arguing that the sell-off does not fundamentally undermine the cryptocurrency’s long-term investment case. In a new analysis published on August 17, BlackRock said the latest downturn has been driven largely by crypto-native deleveraging and changes in investor flows, rather…
Laura Overdeck, the estranged wife of billionaire hedge fund manager John Overdeck, has reportedly rejected a proposed divorce settlement worth roughly $723 million to $735 million, arguing that she is entitled to a far larger share of the fortune built during their more than two decades of marriage. The couple, who married in 2002 without…
The Federal Government has commenced plans to deploy 3,700 telecommunications towers across rural and underserved communities in Nigeria as part of efforts to close the country’s digital divide and bring millions of people into the digital economy. The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, disclosed the development during the inaugural BINI…
The Speaker of the Edo State House of Assembly, Blessing Agbebaku, has resigned from his position amid reported moves by lawmakers to remove him through impeachment. Agbebaku’s resignation took effect on Monday, August 17, 2026, bringing an abrupt end to his tenure as presiding officer of the state legislature. His media aide, Ivy Ebojele, confirmed…
The Economic and Financial Crimes Commission (EFCC) has facilitated the recovery of $60 million from indigenous oil and gas company Nestoil Limited, with the funds paid to a consortium of lenders as part of efforts to resolve the company’s outstanding debt. The repayment followed a structured agreement reached between Nestoil and its creditor banks during…
Savannah James, the wife of NBA superstar LeBron James, has recounted an incident at an Hermès store in Italy where she says a sales associate initially refused to serve her despite having a scheduled appointment. According to Savannah, the incident took an unexpected turn after the luxury fashion house discovered her identity. Savannah reportedly said…
