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CBN Raises ₦1.7trn From Oversubscribed OMO Auction As Liquidity Pressures Persist

The Central Bank of Nigeria (CBN) raised ₦1.7 trillion from its open market operations conducted on Monday, following strong investor demand that significantly exceeded the amount initially offered.

The OMO auction was held ahead of an expected ₦1.04 trillion inflow from the maturity of OMO bills scheduled for December 23, 2025. In a bid to partially replace the maturing securities, the apex bank offered ₦600 billion across short- and medium-term tenors.

Market liquidity remained elevated, estimated at about ₦2.6 trillion, driven by anticipated inflows including ₦281.53 billion from Treasury bills maturing on December 25, 2025, and ₦354.46 billion in bond coupon payments from the June 2032, June 2033, June 2038, and June 2053 Federal Government bonds.

The CBN’s offer comprised ₦300 billion each of 162-day and 211-day OMO bills. Demand was strong, with total subscriptions reaching approximately ₦2.4 trillion, as foreign portfolio investors and domestic banks continued to show strong appetite for naira-denominated assets.

Following the auction, the apex bank allotted about ₦1.7 trillion across the two tenors, with stop rates settling at 19.38 percent for the 162-day bill and 19.42 percent for the 211-day instrument, according to the auction results.

In the secondary market, Nigerian Treasury bills closed on a mildly bullish note as yields declined across most maturities. The December 17 paper recorded the sharpest movement, with yields falling by 13 basis points.

Overall, average yields across the Treasury bills curve declined by 3 basis points to close at 17.72 percent, reflecting sustained demand and expectations of continued liquidity management by the monetary authority.

Corruption, Not Religion Or Ethnicity, Drives Insecurity In Nigeria — EFCC

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, has identified corruption as the primary driver of insecurity in Nigeria, asserting that issues such as religion and ethnicity merely mask the deeper problem.

Olukoyede made the remarks while presenting a paper titled “Corruption, National Security and Economic Prosperity” at the Annual Lecture Series of the Nigeria Air Force Officers Mess Honourary Members’ Forum (NAFOM-HMF) in Lagos.

Speaking through the EFCC Director of Public Affairs, Commander CE Wilson Uwujaren, Olukoyede emphasised that poor accountability in the management of public and private resources has entrenched corruption across the country.

While acknowledging that religious extremism, ethnic rivalries and agitation for self-determination are often cited as causes of insecurity, he stressed that “the real elephant in the room is corruption.”

According to him, corruption exacerbates insecurity when funds intended for security operations are stolen or when resources meant for poverty reduction are diverted by members of the ruling elite. He specifically criticised the abuse of security votes, describing them as opaque channels for siphoning public funds, citing the prosecution of a former governor over the alleged diversion of more than ₦4 billion in security allocations.

Olukoyede highlighted the EFCC’s role in supporting the fight against terrorism and violent extremism through non-kinetic measures, including tracking illicit financial flows, monitoring designated non-financial institutions and Bureau De Change operators, and preventing money laundering.

He further stated that the Commission monitors local and international non-governmental organisations in the North-East to prevent them from being exploited as fronts for subversive activities. The EFCC also collaborates with anti-corruption agencies in West Africa under the Network of Anti-Corruption Institutions in West Africa (NACIWA).

The EFCC chairman noted that the Commission’s asset recovery efforts have contributed to Nigeria’s economic recovery, with portions of recovered funds channelled into social intervention programmes such as students’ loans and consumer credit schemes.

He added that the Commission has supported economic stability by combating currency racketeering, naira mutilation and illegal foreign exchange trading — measures that, he said, helped ease pressure on the national currency.

Olukoyede also disclosed that, upon assuming office, the EFCC adopted a policy of not shutting down businesses under investigation to preserve jobs and livelihoods amid economic turbulence.

The EFCC’s Head of Media and Publicity, Mr Dele Oyewale, stated on Monday that Dr Goke T. Akinrogun, Chairman of NAFOM-HMF, commended Olukoyede for the lecture, while the Chief Host, Air Commodore Ewejide Akintunde, praised the organisers for sustaining the annual forum.

FG Designates Kidnappers, Bandits As Terrorists

The Federal Government has officially designated kidnappers and violent armed groups as terrorists, marking a significant escalation in Nigeria’s response to abductions, attacks on farmers and persistent community violence across the country.

The announcement was made on Monday by the Minister of Information and National Orientation, Mr Mohammed Idris, during an end-of-year press briefing in Abuja.

Idris said the new classification signals a decisive shift from treating mass kidnappings and rural attacks as conventional crimes to confronting them through full-scale counterterrorism measures.

“Henceforth, any armed group or individual that kidnaps our children, attacks our farmers and terrorises our communities is officially classified and will be dealt with as a terrorist,” the minister said.

He added: “The era of ambiguous nomenclature is over. If you terrorise our people, whether as a group or an individual, you are a terrorist and will be classified as such. There will be no hiding under any other name.”

According to the minister, the policy will strengthen intelligence sharing and operational coordination among security agencies, enabling faster, more decisive and unified action against criminal networks.

Idris noted that improved inter-agency collaboration had already yielded tangible results, revealing that in 2025 alone, two of the most internationally wanted criminals were apprehended through coordinated security operations.

As part of efforts to secure vulnerable rural areas, the minister also announced the deployment of trained and fully equipped forest guards. He said the personnel would combine surveillance, local intelligence and rapid-response capabilities to secure forests and remote locations often used as hideouts by criminal groups.

By formally classifying kidnappers and bandits as terrorists, the government, he said, is signalling zero tolerance for abductions and rural violence, while expanding the legal and operational powers available to security forces.

The forest guard initiative, Idris explained, is expected to disrupt criminal supply routes, dismantle camps and restore confidence among farming communities severely affected by insecurity.

Highlighting recent security successes, the minister disclosed the arrest of a senior Islamic State West Africa Province (ISWAP) leader residing in Nigeria, described as one of the most wanted terrorists on the African continent and a target of a substantial bounty placed by the United States.

“The ISWAP leader residing in Nigeria has been captured through the coordination of all security agencies and the intelligence community,” Idris said.

“Recall that Abu Barra was also captured a few months ago and presented to the public by the National Security Adviser and other security chiefs. These arrests demonstrate what coordinated security efforts can achieve.

“This individual had a significant bounty placed on his head by the Americans, and today, together with his chief of staff, he is undergoing trial and will face justice accordingly,” he added.

Sanwo-Olu Swears In Abdul-Ganiyu Obasa As Agege LG Chairman

Lagos State Governor, Mr Babajide Sanwo-Olu, on Monday swore in Abdul-Ganiyu Obasa as the substantive Chairman of Agege Local Government Area, charging him to prioritise grassroots development and align his administration with the state’s development agenda.

The swearing-in ceremony, which also featured the inauguration of Mrs Toyin Adejimiwa as a Permanent Secretary, took place at Lagos House, Ikeja.

Obasa, who is the son of the Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa, had been serving as Acting Chairman of Agege Local Government prior to his confirmation and formal inauguration.

Addressing the newly sworn-in officials, Governor Sanwo-Olu described local government as the tier of government closest to the people, emphasising the need for visible, responsive and compassionate leadership at the grassroots level.

He urged the Agege council chairman to govern inclusively, shun divisive tendencies and focus on delivering measurable and people-oriented outcomes, noting that discipline, performance and accountability remained the benchmarks for leadership and advancement in Lagos State.

The governor also acknowledged the presence of retired permanent secretaries at the event, describing them as exemplary public servants whose legacies continued to inspire professionalism within the state’s civil service.

Sanwo-Olu congratulated Adejimiwa and Obasa on behalf of the government and people of Lagos State, expressing confidence that they would justify the trust reposed in them and contribute meaningfully to the state’s development.

In their separate remarks, Adejimiwa and Obasa expressed gratitude to the governor for the confidence placed in them, pledging to uphold the core values, standards and traditions of excellence associated with public service in Lagos State.

Obasa’s emergence as substantive chairman followed the resignation of the former council chairman, Mr Tunde Azeez, who stepped down due to prolonged health challenges. His resignation letter was read during plenary at the Agege Council Chamber, after which councillors unanimously confirmed Obasa, who had been acting in the capacity.

It would be recalled that Obasa had earlier indicated interest in contesting the chairmanship ahead of the 2025 local government elections but was initially dropped amid opposition to his candidacy.

Experts Urge Tinubu To Clamp Down On Illegal Mining In North

A group of Nigerian security experts has called on President Bola Ahmed Tinubu to take decisive action against illegal mining activities in Zamfara State and other parts of northern Nigeria, warning that the practice remains a major driver of insecurity and banditry in the region.

The experts, operating under the platform of the Arewa Patriotic Neighbourhood Watch (APNW), made the call during a media briefing following a one-day security retreat held in Jos, Plateau State. They cited several investigative reports which, according to them, suggest the involvement of influential individuals in sustaining illegal mining operations, a development they said requires urgent scrutiny by relevant authorities.

APNW Convener, Dr Danlami Shehu, said the persistence of illegal mining continues to undermine security efforts aimed at ending banditry, as proceeds from the illicit activity provide a reliable source of funding for armed groups.

He explained that bandits often offer protection for illegal mining sites, creating safe havens that restrict access for security agencies and complicate efforts to dismantle criminal networks.

“Illegal gold mining has repeatedly been identified as a major factor fuelling insecurity in Zamfara and parts of the North-West. As long as these activities are allowed to continue unchecked, banditry will remain resilient,” Shehu said.

He recalled that the Federal Government, in April 2019, imposed a ban on mining activities in Zamfara State after establishing a strong link between illegal mining and armed violence. According to him, although several security operations were launched to dismantle criminal networks around mining locations, weak enforcement has allowed the practice to persist.

Shehu added that reports by both local and international research institutions have consistently linked proceeds from illegal mining to the procurement of arms by criminal groups, thereby worsening violence and instability in affected communities.

Also speaking, APNW Assistant Secretary, Alhaji Yusuf Ahmed, a native of Zamfara State, decried the socio-economic and environmental consequences of illegal mining on host communities.

Ahmed said unregulated mining has not only heightened insecurity but has also resulted in severe environmental degradation, public health challenges and significant economic losses to the state and the nation.

He recalled the 2010 lead poisoning crisis in parts of Zamfara, which claimed the lives of hundreds of people, mostly children, and was traced to unsafe artisanal mining practices.

“Our communities are still grappling with the consequences of years of illegal mining, from serious health challenges to the loss of livelihoods. This is why decisive and sustained government action is imperative,” Ahmed said.

The group urged the Tinubu administration to strengthen the enforcement of mining regulations, intensify intelligence-driven security operations around mining sites, and deepen collaboration between security agencies and host communities.

They expressed optimism that a renewed and coordinated clampdown on illegal mining would significantly weaken banditry and help restore peace and stability in Zamfara State and the wider North-West region.

Lawmakers May Suspend January 2026 Rollout Of Tax Reform Laws Over Alleged Alterations — Oyedele

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has said the National Assembly has the constitutional authority to suspend the planned January 2026 implementation of Nigeria’s tax reform laws amid allegations that parts of the legislation were altered after passage.

Oyedele made the disclosure on Monday during an interview on Channels Television while responding to claims that sections of the tax laws, as recently gazetted, differ from the versions passed by the National Assembly.

He noted that even before the allegations of alteration surfaced, there had been increasing calls from some quarters for the suspension of the reforms, adding that opposition to the new tax framework has largely been driven by misinformation and fear rather than the substance of the laws.

According to Oyedele, any decision to delay or suspend the implementation of the reforms falls outside the mandate of the tax reform committee and rests solely with lawmakers.

“If we even want to postpone the implementation of the law, it has to be the lawmakers. That’s far beyond my pay grade,” he said. “That decision has to be made, and I believe it will depend on what their findings from this investigation reveal.”

However, he cautioned that halting the reforms would mean retaining a tax system that disproportionately burdens low-income earners and small businesses. Oyedele said the current framework leaves about 98 per cent of workers overtaxed, while small businesses continue to grapple with multiple taxation without benefiting from meaningful exemptions.

He added that suspending the reforms would allow minimum taxes to continue to apply to low-income earners and non-profitable businesses, while the existing value-added tax regime would keep driving up the cost of basic consumption, including food, healthcare and education. At the same time, he said, wasteful and distortionary tax incentives would remain in place.

“So we need to be clear about what we are asking for,” Oyedele said, stressing that calls for suspension must be weighed against the economic and social costs of maintaining the status quo.

On the way forward, Oyedele said that even if investigations confirm that substantial alterations were introduced after the laws were passed, such provisions should be isolated and treated as invalid.

He explained that his preferred approach would be to implement the laws as duly passed by the National Assembly, while separately investigating how the disputed provisions were introduced and determining appropriate corrective actions.

Oyedele also accused vested interests of mobilising unsuspecting Nigerians against reforms designed to benefit the wider population through the spread of fear and misinformation.

Addressing the possible source of the alleged discrepancies, he attributed them to systemic weaknesses and heavy reliance on manual processes throughout the legislative and executive workflow. He noted that bills undergo several stages — including note-taking during debates, harmonisation between the House of Representatives and the Senate, legal review by the Ministry of Justice, presidential assent and eventual gazetting — all of which involve manual handling.

According to him, the absence of robust quality assurance mechanisms at these stages creates room for errors or unintended changes, not only in the tax laws but in legislation generally.

Oyedele said the controversy should be seen as an opportunity to strengthen Nigeria’s lawmaking and gazetting processes, ensuring that laws passed by the National Assembly accurately reflect legislative intent and are not tampered with.

The controversy followed concerns raised last week by a member of the House of Representatives, Hon. Abdulsammad Dasuki (PDP, Sokoto), who alleged discrepancies between the newly gazetted tax reform laws and the versions approved by the National Assembly.

Dasuki said a comparison of the House and Senate proceedings, the harmonised bills and the gazetted copies revealed material differences, prompting the House to promise an investigation. The development has intensified calls for the suspension of the implementation of the tax reform laws scheduled to take effect in January 2026.

FG Clears Pension Arrears Dating Back To 2007, Pencom Says

‎The National Pension Commission (PenCom) has announced a significant development: for the first time since 2007, the long-standing pension arrears owed to retirees under the Contributory Pension Scheme have been cleared.

This milestone was achieved following the issuance and disbursement of a ₦758 billion Federal Government bond, marking a crucial step in supporting retirees and ensuring financial security for those who have dedicated their careers to public service.

The Director General of PenCom, Mrs Omolola Oloworaran, disclosed this during a media briefing at the 2025 Pension Revolution Summit, where the Commission presented its 365-day scorecard.

‎She explained that the bond was approved to settle accumulated unpaid accrued pension rights owed to retirees of federally funded ministries, departments and agencies, a situation that had resulted in delays of up to 21 months in benefit payments.

According to Oloworaran, the clearance of arrears has reduced the backlog of unpaid benefits to zero, ensuring that retirees now receive their pensions on time, with many paid within the same month of retirement.

‎Beyond eliminating payment delays, the Director General said the intervention also enabled payment of pension increases that had remained outstanding since 2007, describing the development as a significant improvement in retiree welfare and confidence in the pension system.

‎She noted that the reforms were supported by broader improvements across the pension industry, including growth in pension assets under management to over ₦26 trillion, with funds invested in line with regulatory guidelines to protect contributors’ savings while supporting economic development.

‎Oloworaran added that participation in the Contributory Pension Scheme has expanded to more than 10 million workers nationwide, with hundreds of thousands of retirees currently receiving benefits.

‎As part of efforts to further enhance retiree welfare, she said PenCom launched Pension Boost 1.0 in May 2025, increasing monthly pension payments for over 233,000 retirees and introducing a zero-waiting-time policy to ensure benefits are paid immediately upon retirement.

‎To sustain these gains, the Director General said the Commission automated key processes, including the online issuance of pension clearance certificates and the pension contribution remittance system, to ease compliance for employers and strengthen transparency.

‎She also said PenCom empowered accredited recovery agents to pursue outstanding pension contributions from defaulting employers, adding that collaborations with enforcement agencies were intensified to improve compliance with pension laws.

‎In addition, Oloworaran said benefit approval powers were delegated to Pension Fund Administrators to further reduce delays and accelerate the processing and payment of retirement benefits.

‎She said the reforms were aimed at strengthening the integrity of the pension system, expanding coverage and ensuring sustainable retirement security for Nigerian workers.

FG Declares Public Holidays For Christmas, New Year

The Federal Government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day, respectively. It has also declared Thursday, January 1, 2026, as a public holiday for the New Year celebration.

The announcement was made in a statement issued on Monday by the Permanent Secretary, Ministry of Interior, Dr Magdalene Ajani, on behalf of the Minister of Interior, Dr Olubunmi Tunji-Ojo.

According to the statement, the minister urged Nigerians to reflect on the enduring values of love, peace, humility and sacrifice exemplified by the birth of Jesus Christ. He also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.

Tunji-Ojo further advised Nigerians to remain law-abiding and security-conscious throughout the celebrations, while extending warm wishes for a joyful Christmas and a prosperous New Year.

The statement read in part: “The Federal Government has declared Thursday, 25th December 2025; Friday, 26th December 2025; and Thursday, 1st January 2026 as public holidays to mark the Christmas, Boxing Day, and New Year celebrations respectively.

“The Minister of Interior, Dr Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government, extended warm Christmas and New Year felicitations to Christians in Nigeria and across the world, as well as to all Nigerians as they celebrate the end of the year and the beginning of a new one.

“The Christmas season and the New Year present an opportunity for Nigerians to strengthen the bonds of unity, show compassion to one another, and renew our collective commitment to nation-building.

“The Minister wishes all Nigerians a Merry Christmas and a prosperous New Year.”

FG, US Sign $5.1bn Agreement To Deepen Bilateral Health Cooperation

The Federal Government of Nigeria and the United States Government have signed a five-year, $5.1 billion Memorandum of Understanding (MoU) on bilateral health cooperation aimed at strengthening Nigeria’s health system and advancing the America First Global Health Strategy.

The agreement, signed on December 19, seeks to support resilient, self-reliant and sustainable health systems, while promoting accountability and shared responsibility between both countries.

Details of the partnership were disclosed in a statement titled “Strengthening U.S.-Nigerian Health Cooperation under the America First Global Health Strategy”, issued by the United States Mission in Nigeria on Sunday.

According to the statement, the United States plans to commit nearly $2.1 billion in health assistance over the five-year period, while the Government of Nigeria is expected to invest approximately $3.0 billion in new domestic health expenditures within the same timeframe.

The US Mission described the agreement as the largest co-investment made by any country under the America First Global Health Strategy, noting that it reflects Nigeria’s growing commitment to national ownership and financing of its health system.

Under the MoU, the United States will continue to support disease surveillance and outbreak response, laboratory systems, health commodities, frontline healthcare workers and health data systems. Nigeria continues to face major health challenges, including one of the world’s highest maternal and child mortality rates and an estimated 30 per cent of the global malaria burden.

The agreement is also expected to expand access to affordable preventive and curative services for HIV/AIDS, tuberculosis, malaria, polio, and maternal and child health, with the aim of improving health outcomes nationwide.

A key component of the MoU is its emphasis on Christian faith-based healthcare providers, which the US Mission described as critical to healthcare delivery in underserved communities. Nigeria has more than 900 faith-based clinics and hospitals, which collectively serve over 30 per cent of the country’s estimated 230 million population, particularly in areas with limited or no public health facilities.

The MoU earmarks about $200 million to strengthen these facilities, enhance workforce capacity and expand access to integrated services for HIV, TB, malaria, and maternal and child health. The statement noted that investments in faith-based health institutions are expected to complement public-sector services and reinforce Nigeria’s overall health infrastructure.

The US Mission added that the agreement was negotiated alongside reforms by the Nigerian government aimed at protecting Christian populations from extremist violence. It further noted that, as with all US foreign assistance, the US President and Secretary of State retain the authority to pause or terminate programmes that do not align with US national interests, stressing expectations for continued progress in addressing religiously motivated violence.

The agreement is the latest in a series of health cooperation MoUs signed across Africa this month, as the United States continues to pursue multi-year bilateral health agreements with partner countries.

Nigeria continues to grapple with a high burden of infectious diseases, including malaria, HIV/AIDS, tuberculosis, cholera and Lassa fever, alongside a rising incidence of non-communicable diseases such as cardiovascular conditions, diabetes and cancer. The challenges are compounded by weak health infrastructure, funding gaps, workforce shortages, poor sanitation, malnutrition and high out-of-pocket healthcare costs.

Meanwhile, the Federal Government says it is advancing health sector reforms to improve service delivery and outcomes. The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, recently acknowledged that funding constraints remain a major challenge but said the administration is scaling up investments in health infrastructure, human resources, vaccines and essential commodities as part of President Bola Tinubu’s Renewed Hope Agenda.

CAF Unveils Annual African Nations League

The Confederation of African Football (CAF) has announced the launch of the African Nations League, a new annual competition aimed at providing a consistent, high-level platform for the continent’s senior national teams and elite players.

The competition, unveiled on Monday, is designed to guarantee regular world-class international football for African nations, while expanding opportunities for players to showcase their talents on a continental stage.

In a statement posted on its official X handle, CAF said the new league underscores its commitment to hosting a top-tier senior national team competition every year. “CAF launches the exciting new African Nations League and guarantees that CAF will host, every year, a world-class Senior National Team Competition in which the best African players will participate,” the statement read.

According to the continental football body, the African Nations League will strengthen the competitive structure of international football in Africa by ensuring frequent, meaningful matches, promoting player development and enhancing fan engagement across the continent.

CAF added that the annual nature of the competition would provide continuity for national teams, improve technical standards, and create sustainable value for member associations.

The launch comes amid broader reforms in African football. CAF President, Patrice Motsepe, recently announced that the Africa Cup of Nations (AFCON) will revert to a four-year cycle after the 2028 edition, marking a significant shift from the tournament’s current biennial format.

The introduction of the African Nations League is expected to complement the revised AFCON calendar and further elevate the global profile of African football.

Italy Slaps Apple With €98 Million Fine Over App Privacy Rules

Apple Gains More Smartphone Users Than Samsung

Italy’s competition authority has fined Apple €98 million ($115 million) for allegedly abusing its dominant position in the mobile app market, marking the latest regulatory challenge for the US tech giant in Europe.

The Autorità Garante della Concorrenza e del Mercato (AGCM) said its investigation found that Apple imposed “restrictive” privacy rules on third-party app developers through its App Store. The authority argued that these rules, introduced under Apple’s App Tracking Transparency (ATT) framework, were applied unilaterally and harmed the commercial interests of Apple’s partners.

ATT, launched in 2021, requires apps to request user consent before tracking activity across other apps and websites. While marketed as a privacy safeguard, critics have argued that it gives Apple a competitive edge by limiting the ability of third-party developers to gather user data for advertising, while promoting Apple’s own ad services.

This is not the first time Apple has faced fines in Europe over ATT. Earlier in 2025, French antitrust regulators imposed a €150 million penalty for similar reasons. Authorities across the continent are increasingly scrutinizing Apple’s App Store policies, signaling growing concern over the company’s market influence.

The AGCM emphasized that its ruling aims to ensure fair competition and protect the rights of developers relying on the App Store ecosystem, highlighting ongoing tensions between privacy rules and competitive practices in the tech industry.

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Elon Musk Becomes First Person Worth $700 Billion After Tesla Stock Options Restored

Elon Musk has officially crossed the $700 billion mark, becoming the first person in history to reach this milestone, after the Delaware Supreme Court overturned a lower court ruling that had voided Tesla stock options worth $139 billion. Forbes now estimates Musk’s net worth at $749 billion.

The legal battle began in January 2024, when the Delaware Court of Chancery ruled that the process of awarding the 2018 Tesla stock options to Musk was unfair to shareholders, citing his control over Tesla’s board. As a result, Forbes had been discounting the value of those options by 50%. On Friday, the Supreme Court ruled that “rescission of the options was an improper remedy,” restoring the full value of the award and adding roughly $69.5 billion to Musk’s fortune.

Tesla remains Musk’s most valuable asset. He holds 12% of the company’s common stock, valued at $199 billion, making his total Tesla holdings $338 billion when combined with the restored stock options. This does not include a separate performance-based pay package awarded in November, which could potentially add up to $1 trillion if Tesla achieves ambitious long-term milestones.

Musk’s second-largest holding, SpaceX, is estimated at $336 billion, based on a private tender offer valuing the company at $800 billion. Analysts suggest that SpaceX, with a potential IPO in 2026 targeting a $1.5 trillion valuation, could ultimately make Musk the world’s first trillionaire.

Currently, Musk’s wealth eclipses that of the world’s second-richest person, Google co-founder Larry Page, by nearly half a trillion dollars, highlighting his dominant position in the global wealth rankings.

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Wizkid, Davido And Olamide Light Up Lagos As Detty December Kicks Off

Nigerian music heavyweights Wizkid, Davido and Olamide thrilled fans in Lagos on Tuesday night as the annual Detty December festivities gathered momentum, with all three artistes appearing at the same event in a rare crossover moment.

The trio performed at the GTCO End-of-Year Party, a beachside celebration that attracted a large crowd of music lovers, celebrities and industry insiders. Their appearances quickly became one of the standout moments of this year’s festive season in Lagos.

Wizkid took to the stage with selections from his recently released Morayo album, alongside some of his widely known hits. Fans responded with loud sing-alongs, waving phone lights as the performance unfolded. Clips shared online showed sustained excitement as the artiste moved through his set.

Davido followed with a performance that featured several of his popular tracks, drawing cheers and chants from the audience gathered close to the stage. His set added to the energy of the night, with fans reacting enthusiastically to each song.

Olamide also performed, earning strong reactions as he delivered songs that have become staples at live shows in Lagos. His appearance reinforced his long-standing connection with the city’s concert scene and his influence during the festive period.

Several celebrities were spotted at the event, including rapper Falz, who was seen cheering from the front rows. Artistes and guests exchanged greetings around the venue, adding to the celebratory atmosphere. The Group Chief Executive Officer of GTCO, Segun Agbaje, also drew attention as he was seen enjoying Wizkid’s performance from the audience.

Wizkid’s appearance comes ahead of his planned return to Lagos for a major concert later in the month. He recently announced that he would headline a show titled GOAT: The Greatest of All Time Experience, scheduled for December 28, 2025, at Tafawa Balewa Square, Marina.

Davido is also expected to headline a Christmas Day concert, while Olamide is set to appear at multiple events across Lagos as the festive season continues.

Detty December has grown into a major cultural and economic fixture for Lagos. Last year, state authorities estimated that the festivities generated about $71.5 million in government revenue, with the hotel sector accounting for a significant share of the inflows.

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Apple Forces Ios 26 Upgrade Amid Security Threats, Millions Affected

iPhones Are Most-bought Secondhand Mobile Devices In Nigeria -Report

Apple has taken an unusually firm step in its iPhone software strategy, mandating that users upgrade to iOS 26 sooner than expected. The move comes in response to a surge in spyware targeting iPhones, highlighting the company’s ongoing focus on security and privacy.

Previously, many expected iOS 26.2 to remain optional, allowing iPhone 11 and newer models to upgrade at their own pace. The earlier beta versions of iOS 18.7.3 suggested that security fixes would be broadly available. However, Apple has now restricted critical patches to iPhone XS, XS Max, and XR models. These updates address vulnerabilities actively being exploited by sophisticated spyware capable of spreading beyond targeted users.

Experts say the decision is surprising because earlier software versions could have included these fixes for older devices, which would have allowed a faster, more widespread update across Apple’s user base. Analysts estimate that around 50% of eligible iPhones have yet to move to iOS 26, while approximately 10% of users operate phones that are officially ineligible.

The new requirement reflects Apple’s commitment to protecting its ecosystem, even if it means inconveniencing millions of users. Security analysts warn that delaying updates could leave devices exposed to attacks, making the upgrade not just recommended but urgent.

As Apple enforces iOS 26 adoption, users are being urged to update their devices promptly to avoid potential security risks, even if storage concerns or other preferences had previously held them back.

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The World’s First “Living” Computer Is Here, And It’s Real

A revolutionary new kind of computer is no longer science fiction — it’s alive. Australian biotech company Cortical Labs has unveiled the world’s first commercially available “living” computer, a breakthrough that blends human biology with digital technology.

Called CL1, the device runs on human neurons grown in the lab, integrated onto silicon chips. These neurons, derived from stem cells, form miniature clusters that mimic the human cerebral cortex. While it doesn’t contain a full human brain, the system functions more like a tiny, self-learning neural network than a traditional computer.

Unlike conventional machines that rely on circuits and binary code, the CL1 uses living cells to process information. Its neurons generate electrical impulses that communicate directly with the digital components, adapting and reorganizing as they “learn” from their environment. In essence, it behaves more like a human brain than a machine, capable of handling complex data in ways traditional computers cannot.

Cortical Labs has made the technology accessible: individuals can purchase a CL1 for $35,000 or connect to it remotely via the Cortical Cloud. The neurons in the system have already been trained to perform tasks such as playing video games and recognizing voices, signaling the enormous potential of bio-computing.

This development comes after years of research into hybrid computing systems. Earlier experiments included molecular computers, robotic organoids, and biological AI models, but CL1 marks the first device designed for public use.

The launch also raises difficult questions. Could these neurons develop some form of awareness? Might they experience pain? And who owns the data produced by a living computer? While experts insist current systems remain fully controlled by humans, the ethical and philosophical implications of merging biology with technology are only beginning to be explored.

As the CL1 becomes available, it promises to transform computing, artificial intelligence, and robotics — challenging the way we think about machines, learning, and even life itself.

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Bauchi PDP: Wike Has No Authority, Threats Are Null

Nyesom Wike Pleadges to complete Kpopie-Bodo

The Bauchi State chapter of the Peoples Democratic Party (PDP) has warned that describing the Minister of the Federal Capital Territory, Nyesom Wike, as the party’s national leader has no legal or constitutional basis.

The party said Wike no longer holds any leadership standing within the PDP, stressing that he has been expelled and cannot be presented as a figurehead of the party.

Addressing journalists on Sunday, the state Publicity Secretary, Dayyabu Chiroma, dismissed recent statements and threats allegedly issued by Wike’s supporters, describing them as unlawful and incapable of altering the party’s structure in Bauchi State.

Chiroma said attempts to intimidate party members or create a sense of impending violence reflect political desperation rather than legitimate authority, adding that leadership within the PDP must flow strictly from the party’s constitution.

He stated that the Bauchi PDP remains committed to peaceful political engagement and the rule of law, and would not be drawn into actions designed to manufacture crisis where none exists.

The party spokesman also rejected claims of a parallel leadership emerging in the state, insisting that any group operating outside the party’s constitutional framework lacks legitimacy.

On reports that PDP members had been directed to vacate party secretariats across the state, Chiroma said such orders were invalid and unenforceable, noting that those issuing them neither control nor lawfully manage PDP property.

He reaffirmed that the recognised PDP structure in Bauchi State remains intact and will continue to operate in line with the party’s constitution and democratic principles.

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FG Opens Bodo–Bonny Road For Yuletide Travel

High Court Sacks Ebonyi Governor, Deputy Over Party Defection

The Federal Government has temporarily opened the Bodo–Bonny Road to ease transportation for residents and travellers during the yuletide period.

President Bola Tinubu, represented by the Minister of Works, Mr. David Umahi, said the temporary opening was aimed at improving mobility and creating a festive atmosphere for communities along the corridor, particularly in Bodo and the Bonny Kingdom.

Umahi described the 35.7-kilometre road project as a long and challenging journey, noting that patience and cooperation from host communities helped the project reach the current milestone. He commended the contractor, Julius Berger Nigeria Plc, for the quality and scale of work delivered so far, adding that Nigerians would be proud of the road upon completion.

He stressed that the opening is temporary, explaining that the President would formally commission the road after full completion. According to the minister, the road will be open daily from 7:00 a.m. to 7:00 p.m., with night travel prohibited.

Umahi said heavy-duty vehicles would not be allowed on the road until all concrete barriers are removed, to prevent breakdowns and traffic disruptions. Motorcycles and tricycles are also barred from using the route during the construction phase, while Julius Berger has been directed to mount roadblocks to enforce the restrictions.

The minister further tasked the contractor with additional works ahead of final completion, including tree planting along both sides of the road and the installation of solar-powered streetlights at intervals.

Earlier, the Project Manager of Julius Berger Nigeria Plc, Mr. Tim Nippert, said steady progress on the project was made possible by the support of the Ministry of Works and cooperation from host communities, assuring that the company remains committed to delivering the project to standard.

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FRSC Deploys Officers, Tow Trucks To Ease Abuja–Lokoja Gridlock

FRSC To Appeal Order Limiting Their Operations To Federal Roads

The Federal Road Safety Corps (FRSC) has deployed additional officers and tow trucks along the Abuja–Lokoja Road to ease persistent traffic gridlock and ensure the swift removal of obstructions.

The directive was issued by the FRSC Corps Marshal, Mr. Shehu Mohammed, according to a statement released on Sunday in Abuja by the Corps Public Education Officer, Assistant Corps Marshal Olusegun Ogungbemide.

Mohammed said the deployment forms part of ongoing efforts to improve traffic management and guarantee the safety of road users, particularly during the current period of increased vehicular movement.

He explained that congestion on the corridor has been driven largely by a surge in traffic volume, combined with multiple construction points along the route. The situation, he added, has been worsened by lane indiscipline and the actions of impatient motorists who drive against traffic, especially around construction zones where diversions are in place.

According to the corps marshal, the additional personnel and towing equipment are intended to strengthen traffic control, enforce discipline and ensure that broken-down vehicles and other obstructions are promptly cleared to restore free flow of traffic.

Mohammed urged motorists travelling on the Abuja–Lokoja Road during the festive season to cooperate fully with FRSC personnel and other traffic managers on duty, stressing that adherence to traffic rules and lawful instructions would help reduce delays and prevent crashes.

He reassured road users of the FRSC’s commitment to sustained monitoring and intervention to ensure safer and smoother travel on the route.

Umahi Restores Traffic On Abuja–Lokoja Highway

Normal traffic flow has been restored on the Abuja–Lokoja Highway following a blockade caused by a standoff between truck drivers and military personnel over the weekend.

The Minister of Works, Engr. David Umahi, announced the development on Sunday, following days of gridlock that left travellers stranded along the busy corridor during the festive period.

The blockade reportedly followed an incident involving the smashing of a truck’s windscreen, which led truck drivers to block sections of the highway in protest. The action resulted in long delays for motorists travelling towards Lokoja and other destinations.

In a statement issued in Abuja by the Director of Press and Public Relations of the Ministry of Works, Mohammed Ahmed, the ministry said the minister’s intervention helped to calm tensions and restore normalcy.

Umahi directed the immediate opening of completed sections of the expressway and approved the deployment of necessary measures to ease congestion and restore free movement. The directive was implemented on Sunday, December 21, 2025.

The Federal Controller of Works in Kogi State, Engr. Patiko Isah, said traffic flow was fully restored at about 2:00 a.m. through joint efforts by the Field Headquarters, the Federal Road Safety Corps and other security agencies.

Umahi urged motorists to remain patient and cautious, particularly during the peak holiday travel period. He reaffirmed the Federal Government’s commitment to ensuring safe and efficient road transportation nationwide and wished Nigerians a peaceful festive season.

Turkish Airlines Opens First European Lounge In Edinburgh

Turkish Airlines has opened its first European lounge outside its Istanbul hub at Edinburgh Airport, expanding its premium service offering and strengthening its presence in the European market.

The airline disclosed the development in a statement on Sunday, noting that the lounge was unveiled earlier in December at a ceremony held at Edinburgh International Airport. The Edinburgh facility is Turkish Airlines’ eighth lounge outside Türkiye.

According to the airline, the new lounge reflects its strategy of replicating scaled-down versions of its flagship five-star lounge in Istanbul at key global destinations to deliver a consistent passenger experience.

The Turkish Airlines Lounge at Edinburgh Airport covers 673 square metres and can accommodate up to 149 guests. Facilities include an open buffet with Turkish cuisine, relaxation areas with Wi-Fi and televisions, two prayer rooms, baby care facilities, accessible restrooms and real-time flight information displays.

Speaking at the opening, the airline’s Chief Operations Officer, Akif Konar, said the lounge marks an important milestone in Turkish Airlines’ European operations. He said the investment underscores the carrier’s commitment to expanding its footprint in Europe and bringing its award-winning hospitality closer to passengers.

The Chief Commercial Officer of Edinburgh International Airport, Stephanie Wear, described the lounge as a boost to the airport’s premium travel offering and a sign of Turkish Airlines’ commitment to enhancing passenger experience.

Turkish Airlines currently operates 10 weekly flights between Edinburgh and Istanbul, providing passengers in Scotland with connections to the airline’s global network of 356 destinations across 132 countries.

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