Friday, December 19, 2025
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MAN Pushes Blue Economy, Industrial Parks, And Coastal Rail As Niger Delta’s Next Manufacturing Frontier

Yenagoa hosted the Manufacturers Association of Nigeria (MAN) AGM for its Rivers/Bayelsa branch on November 13–14, 2025, marking the first time the body has gathered in Bayelsa State. The event brought together top manufacturers, policymakers, and development experts to explore how the region can position itself as a manufacturing and blue-economy hub.

Governor Douye Diri officially opened the conference at the DSP Alamieyeseigha Memorial Banquet Hall, emphasizing that industrial growth in Bayelsa aligns with his administration’s development agenda. In his remarks, he highlighted current investments in infrastructure, human capital, and power as critical to transforming the state into a manufacturing powerhouse.

A keynote address by Prof. Silver Opuala-Charles, former Bayelsa commissioner of finance and international economics expert, warned that the Niger Delta’s non-oil economy is being held back by poor trade infrastructure. He pointed to defunct ports, dilapidated roads, lack of rail links, and outdated logistics systems. “This region should be Nigeria’s industrial heartbeat,” he said, “but we are crippled by infrastructure failure and unreliable power supply.”

Panel discussions at the AGM focused on a bold proposal to develop a coastal industrial transport corridor from Benin to Calabar. Stakeholders called for partnership with the Niger Delta Development Commission (NDDC) and the two states to jointly invest in a rail route to complement the failing East-West Road and uncertain coastal highway. They argued this could attract industries to locate along the corridor and bring power infrastructure, boosting economic transformation.

Manufacturers also urged the establishment of industrial parks in Rivers and Bayelsa, offering secure land, steady power, tax incentives and guaranteed markets. Experts from MAN argued these parks would be game-changers, especially if gas-powered through public–private partnerships. Gas, they said, is not only a cost-effective fuel but a strategic input for future industry in the Delta.

The blue economy emerged as a central theme. Attendees highlighted opportunities in maritime-based manufacturing, fish processing, ship repair, seaweed farming and ocean energy. They argued that leveraging the region’s coastline would diversify economic activities beyond oil and generate sustainable jobs.

Ehizogie N. Olotu, Sales and Commercial Manager at Shell Nigeria Gas, presented a paper calling on state and federal governments to create gas-powered industrial clusters, innovation zones and free trade areas. He urged that incentives and infrastructure support be provided to ensure the Delta competes regionally.

Governor Diri welcomed the vision, telling the gathering that Bayelsa’s future lies in industrialisation built on its unique resources and geography. MAN’s Rivers/Bayelsa chairman, Vincent Okuku, thanked the governor and urged a focused push to tackle high energy costs, unstable electricity, transport bottlenecks, multiple taxes and poor policy coordination, which remain major obstacles to growth. MAN President Francis Meshioye noted that with the right policy and investment backing, the Niger Delta could become a regional industrial hub.

At the end of the AGM, a communiqué was signed calling for coordinated efforts to build infrastructure, institutionalise regular investor-government dialogues, drive blue economy businesses, deepen public-private partnerships, invest in skills and adopt sustainable, export-ready manufacturing clusters. The statement said that unlocking the Delta’s industrial potential depends on collaboration across government, the private sector and development partners.

Observers say the real test begins now: implementing the “Yenagoa Declaration” could hinge on commitments from the NDDC and federal authorities around the proposed rail corridor and industrial parks.

African Eurobonds Advance As Investors Adjust Positions On Softer U.S. Dollar

Retirees To Receive Additional Inflows Once Funds Arrive, GNI Assures

Great Nigeria Insurance has assured retirees under its annuity scheme that all additional inflows due to them will be credited immediately once the funds reach the company.

The reassurance was given at the third GNI Retirees Experience Forum held in Lagos after participants raised concerns about the recent circular jointly issued by the National Pension Commission and the National Insurance Commission.

The regulators had clarified how Pension Fund Administrators and Retiree Life Annuity Providers should treat fresh deposits into the Retirement Savings Accounts of retirees already receiving annuity payments. Under the directive, PFAs must notify retirees of any new inflows. Deposits of one hundred thousand naira or less will be paid directly into retirees’ bank accounts. For higher amounts, retirees earning at least half of their final monthly salary may choose between receiving the money as a lump sum or applying it as additional annuity premium. Retirees earning below that threshold must first use the funds to raise their annuity to the required level before any balance can be taken as a lump sum or added as extra premium.

Responding to questions about the implementation, the Managing Director of GNI, Roselyne Ulaeto, said the company is fully prepared to act once the Federal Government releases the expected inflows.

She said the thirty two thousand naira referenced in the circular will be added as soon as the money reaches GNI, and that retirees will receive notifications by email or phone when their accounts are credited.

Ulaeto noted that although retirement is a milestone, it is increasingly complicated by the country’s economic situation. She said inflation, though easing, is still higher than desirable and continues to strain annuitants. She reaffirmed GNI’s commitment to keeping monthly payouts consistent and reliable, describing the company as a partner focused on ensuring a dignified and peaceful retirement.

The Head of the Inspectorate Department at the Lagos State Pension Commission, Olaseni Eze Okoroafor, commended GNI for what she described as consistent service delivery. She said the company has demonstrated dedication to retirees by maintaining timely payments and creating spaces for engagement such as the annual forum.

Several retirees used the event to seek clarification on the circular and the status of funds for state and federal pensioners. Some also appealed to Lagos State to review benefits under its contributory pension scheme, while others praised GNI staff for responsiveness and support.

The forum also featured a health talk delivered by Dr Bukola Atum, who encouraged retirees to adopt healthier habits, take medications as prescribed and keep up with their medical appointments.

Banks Scale Back CBN Window Placements By 40% As Liquidity Tightens

African Eurobonds Advance As Investors Adjust Positions On Softer U.S. Dollar

DMO Set To Auction N150bn Bond On FG's Behalf

African Eurobonds, including Nigeria’s U.S.-denominated sovereign instruments, posted gains last week as foreign investors repositioned their portfolios amid a weaker U.S. dollar, rising unemployment concerns, and delayed inflation data releases in the United States.

Global investors reassessed opportunities across Africa, showing renewed interest in commodity-linked issuers like Nigeria, and expressing positive sentiment toward Angola, Egypt, and Ghana.

Nigerian Eurobonds enjoyed strong performance through the week, buoyed by increased offshore demand ahead of the upcoming $1.118 billion maturity of the November 2025 sovereign bond. Analysts say the refinancing expectation lifted confidence along the entire yield curve.

Average Eurobond yields declined by 14 basis points to 7.76%, indicating improved appetite for Nigerian debt. Fixed-income strategists attribute the shift to more stable macroeconomic indicators, firmer fiscal conditions, and growing expectations of cautious policy management.

The week opened with strong interest across the curve, supported by sustained demand. Momentum held through midweek as investors continued to target attractively priced positions. A soft close to the week followed as some investors took profits following earlier gains.

AIICO Capital noted that broader African Eurobonds experienced mixed-to-positive trading patterns, supported by a weaker USD and softer U.S. labour data. Expectations of a potential December U.S. Federal Reserve rate cut further bolstered risk appetite.

Investor sentiment strengthened as U.S. jobless claims declined and inflation readings in the U.K. and EU showed signs of softening. Additional optimism followed the rise in the U.S. unemployment rate to 4.4% in September, helping amplify the risk-on environment.

By week’s end, Nigeria’s Eurobond market closed on solid ground, with yields consolidating at 7.76%. Analysts expect continued positive momentum in the near term, backed by stable reserves and growing anticipation of monetary easing in December.

Yemi Alade Reveals Rampant Sexual Harassment In Nigerian Music Industry

FX Spread Shrinks As Naira Weakens In Official And Parallel Markets

The gap between Nigeria’s official and parallel FX markets narrowed last week as the naira recorded losses across major trading segments amid persistent dollar shortages. The scarcity prompted another round of intervention from the Central Bank of Nigeria (CBN).

The CBN injected $250 million into the official FX window in an attempt to stabilise supply and guide market pricing. However, strong dollar demand and weaker inflows continued to drag the currency lower, pushing the naira to N1454/$ at the close of business on Friday.

At the official market, the naira reached an intraday high of N1462 per dollar, compared to N1450 at the start of the week, signalling a tightened liquidity environment. Week on week, the currency depreciated by N14, despite the combined effect of CBN interventions and routine FX market sales.

Across the parallel market, the naira slipped by N5, settling at N1460 as demand outstripped available dollar supply. This brought the differential between both markets to just N6, reflecting intensified regulatory efforts to curb speculative trading.

Despite the exchange rate volatility, Nigeria’s external reserve position edged higher. Foreign reserves grew by 1.10%, rising from $43.64 billion to $44.12 billion, supported by steady oil receipts, stronger non-oil inflows, and a sustained trade surplus.

Global commodity markets witnessed notable declines after U.S. data showed an unexpected rise in crude inventories, sparking fears of oversupply.

WTI crude dropped 3.01% to $58.91

Brent crude fell 2.91% to $63.00

Bonny Light slipped 1.24% to $64.28

Analysts say the downward trend reflects mounting concerns over weakening global demand and persistent supply-side risks affecting oil-producing countries.

Reps Urge Senate To Fast-Track Police Pension Bill

Banks Scale Back CBN Window Placements By 40% As Liquidity Tightens

Commercial banks significantly reduced the volume of funds lodged at the Central Bank of Nigeria’s (CBN) Standing Deposit Facility (SDF) window last week, dropping placements by 40% as overall system liquidity declined sharply.

The contraction came as the CBN intensified its open market operations (OMO), issuing large volumes of OMO bills across two primary market auctions in an effort to withdraw excess cash and replace maturing short-term instruments.

Throughout the week, the monetary authority actively supplied OMO and Nigerian Treasury Bills to investors, targeting a reduction of idle liquidity within the financial system. Despite the aggressive mop-up, market liquidity remained positive, closing Friday at N1.31 trillion, although significantly lower than previous levels.

Since the adjustment of the monetary policy asymmetric corridor in September, banks with limited lending appetite have consistently channelled surplus liquidity into the SDF at a return of 24.50%, which analysts say currently outweighs yields on Nigerian Treasury Bills.

Liquidity opened the week at a robust N3.9 trillion, boosted by heavy DMB flows into the SDF. This was further supported by N2.09 trillion in FAAC disbursements and additional inflows from OMO and treasury bill maturities. However, several sterilisation auctions—designed to absorb excess liquidity—counteracted the expansion.

A major liquidity withdrawal followed a N3 trillion OMO auction, surpassing the N1.4 trillion OMO maturities recorded. Net Treasury Bill settlements amounting to N400.47 billion further pressured system liquidity.

To roll over maturing bills, the CBN allotted N1.1 trillion in Treasury Bills across all standard tenors during its Wednesday auction. By week’s end, available liquidity had fallen by 78.8%, sliding from N6.17 trillion the previous week to N1.31 trillion, according to Cowry Asset Limited.

Analysts at Cowry Asset note that the slowdown reflects banks’ sustained preference to park idle funds with the CBN rather than deploy them into the wider financial market, a pattern that continues to shape short-term funding dynamics. TrustBanc Financial Group reported that banks’ average placements fell to N2.51 trillion, down from N4.17 trillion a week prior.

Yemi Alade Reveals Rampant Sexual Harassment In Nigerian Music Industry

Ethereum Climbs As Upgrade Anticipation Strengthens Market Sentiment

Ethereum (ETHUSD) recorded a strong rebound over the past 24 hours, advancing by roughly 4% as renewed confidence surrounding the upcoming Fusaka network upgrade invigorated investor sentiment despite broad market weakness. The price bounce appears driven by a blend of upgrade-related optimism, technical market correction, and a resurgence of macro-linked inflows into digital assets.

Market analysts note that while Ethereum’s short-term outlook has turned positive, the cryptocurrency must maintain support above $2,800 and demonstrate steady progress on Fusaka implementation to keep its upward momentum intact.

The Fusaka upgrade is considered a critical milestone for Ethereum, setting the groundwork for major improvements in scalability, processing efficiency, and transaction affordability — particularly for Layer 2 ecosystems.

Fresh trading data shows Ethereum rising 3.80% to $2,809 as the second-largest digital asset attempts to recover from last week’s decline. ETH held firm at the $2,680 support level tested on Saturday, while the 14-day RSI touched 28.15 — its lowest reading since May 2025 — signaling the strongest oversold conditions in months. Ethereum’s 20-day exponential moving average, currently around $2,823, is now functioning as a key resistance zone.

The cryptocurrency’s market capitalization jumped by 3.8% within the day, with Sunday’s trading activity reaching $17.4 billion. Although daily trading volume fell by 50%, traders have begun re-entering long positions following the recent dip.

Much of the renewed interest is tied to market expectations for the Fusaka upgrade, scheduled for December 3. The update introduces PeerDAS technology, which is expected to expand Layer 2 data capacity by as much as tenfold.

Market watchers recall that Ethereum’s Pectra upgrade in May 2025 sparked a notable price rally, with ETH gaining nearly 50% during that period. This historical performance has fueled speculation of a similar post-upgrade surge, pushing investors to position themselves early.

Meanwhile, broader macro sentiment is also adding momentum. Anticipation of a U.S. Federal Reserve rate cut next month has boosted optimism across global markets. Softer U.S. employment figures increased the probability of a rate cut to 70%, up from 40% the previous week. Bitwise CIO Matt Hougan described this shift as an “underappreciated catalyst” that could support a broader market recovery.

Current industry reporting confirms December 3 as the expected launch date for Fusaka, often referred to in early-December upgrade schedules. The update merges improvements across Ethereum’s consensus and execution layers, aiming to elevate throughput and strengthen the economics of Layer 2 networks. Analysts say the main indicators to watch in the near future include finalized client releases and the early performance metrics following the fork.

Tinubu Orders Withdrawal Of Police Escorts From VIPs, Redirects Officers To Core Security Duties

President Bola Ahmed Tinubu has directed that police officers currently assigned as personal security aides to VIPs across the country be withdrawn and reassigned to frontline policing functions. The decision was announced following a security briefing held on Sunday in Abuja with the service chiefs and the Director-General of the Department of State Services (DSS).

In a statement released by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the government explained that VIPs who require armed protection will now be provided with personnel from the Nigeria Security and Civil Defence Corps (NSCDC), freeing police officers to address critical security gaps nationwide.

The statement noted that many communities — particularly remote and rural areas — remain understaffed in terms of police presence, making effective law enforcement difficult.

“In view of the prevailing security challenges across the country, President Tinubu is committed to strengthening police deployment in all localities,” the statement read.

Onanuga further confirmed that the President has approved the recruitment of an additional 30,000 police officers. The Federal Government is also collaborating with state governments to enhance the capacity of police training institutions nationwide.

Present at Sunday’s high-level meeting were the Chief of Army Staff, Lt. Gen. Waidi Shaibu; Chief of Air Staff, Air Marshal Sunday Kelvin Aneke; Inspector-General of Police, Kayode Egbetokun; and the DSS Director-General, Tosin Adeola Ajayi.

The withdrawal of police security details from VIPs follows long-standing concerns about the overstretching of Nigeria’s police force. Several assessments have revealed that more than 100,000 officers are assigned to politicians, business leaders, and various categories of prominent individuals — a practice that has significantly reduced manpower available for core policing responsibilities.

The administration’s new directive aims to redirect policing resources back to public safety, especially amid rising insecurity in multiple regions.

UK Unveils 10-Year Minimum Route To Permanent Residency In Historic Immigration Shake-up

Reps Urge Senate To Fast-Track Police Pension Bill

Members of the House of Representatives have called on the Senate to expedite consideration of the Police Pension (Amendment) Bill, 2025, following a five-week protest by retired police personnel that blocked the National Assembly entrance.

Chairman of the House Committee on Police Affairs, Hon. Makki Yalleman, noted that the House had completed all legislative processes on the bill on 28 October 2025 and transmitted it to the Senate for concurrence. He said the bill, HB 979, addresses the demands of retired officers and urged the Senate to finalize its consideration so it can be sent to the President for assent.

Yalleman described the House’s engagement with stakeholders as thorough, adding that the bill aims to establish the Nigerian Police Post-Pension Board, which will administer pensions for police personnel and exempt them from the Contributory Pension Scheme under the Pension Reform Act, 2014.

The Chairman of the House Committee on Pensions further explained that the proposed board would allow the police to manage their pensions independently, similar to the military and other security agencies. He urged the protesting officers to exercise patience, noting that the Inspector-General of Police and the Director-General of the Pension Office are coordinating with lawmakers to resolve outstanding issues before the bill comes into effect.

Both committees emphasized that once the Senate acts, the bill will be transmitted to the Presidency for assent, ending the ongoing protest and ensuring retired officers’ pension matters are fully addressed.

Stakeholders Chart New Path For Nigeria’s Aviation Sector

Yemi Alade Reveals Rampant Sexual Harassment In Nigerian Music Industry

Yemi Alade

Afrobeats star Yemi Alade has opened up about the sexual harassment she faced early in her career, saying predatory behavior from industry gatekeepers nearly forced her out of music. Speaking on the Swift Conversations podcast on Friday, Alade described harassment as rampant for emerging artists, often coming from older male executives who used their positions to make inappropriate demands during meetings, studio sessions, and contract discussions.

She recounted a disturbing incident in which a managing director ran his hand up her thigh under a meeting table while discussing her career prospects. Alade said experiences like that left her shaken and questioning whether she could continue in the industry.

She credited her resilience, a supportive team, and personal boundaries for helping her navigate an entertainment culture that preys on young women. Alade urged emerging artists, particularly women, to protect themselves and speak out when confronted with inappropriate behavior.

Alade explained, “In those beginning days, all I thought I needed was just my talent because that’s what I have. I didn’t have a bank account full of money I could use to sponsor myself. I just had a talent and a zeal and a promise that I made to myself and a promise I believed God made to me. So, I always tried to show up.”

She added that she often faced situations where executives sought more than her talent. “Many times, from business meetings to studio sessions to even winning certain awards, you meet maybe the managing director or any other executive, and they are trying to rub your thighs under the table. I was just a teen. I had to decide if music was what I wanted to do because the sexual harassment was becoming too rampant. But something in me told me to keep pushing my talent. So, I still showed up. If a door was left open for me, I would walk in. If it was shut in my face, I would walk away.”

Alade’s account underscores ongoing concerns about sexual harassment in Nigeria’s music industry and the challenges young women face while trying to succeed in the field.

17 States Now Implementing Contributory Pension Scheme, Says Commission

Arewa Communities Criticize Nollywood Film ‘The Herd’ or Stereotyping

Former Special Assistant on Digital Communications to ex-President Muhammadu Buhari, Bashir Ahmad, has spoken out about the Nollywood thriller The Herd, saying Arewa viewers are concerned about its portrayal of Fulani herders. Ahmad noted that the film raises fears of stereotyping an entire group already affected by years of insecurity.

In a post on X, Ahmad stated that northern audiences are not denying the existence of banditry but are troubled by how the movie frames pastoralists. He highlighted a scene in the Netflix preview in which herders are shown crossing a road with their cattle before suddenly opening fire on travelers, including a newlywed couple. Ahmad said this depiction is dangerously inaccurate and risks creating a misleading impression of Fulani herders.

He emphasized that while some bandits are Fulani, the majority of herders are peaceful and have also suffered from criminal attacks. Portraying all herders as kidnappers, Ahmad warned, reinforces harmful stereotypes and could influence both local and global perceptions, potentially leading to stigma and harassment.

Ahmad advised filmmakers to consult security experts, victims, researchers, and pastoralist representatives when addressing sensitive national issues. He also suggested that the Nigerian Film Corporation, led by actor Ali Nuhu, should have provided guidance to prevent such portrayals. He called on filmmakers to focus on identifying criminals without casting suspicion on innocent communities, saying the story should condemn the perpetrators while protecting the reputation of law-abiding herders.

Funke Akindele’s Curvy New Look Sets Social Media Spinning

UK Unveils 10-Year Minimum Route To Permanent Residency In Historic Immigration Shake-up

The United Kingdom has rolled out one of its most far-reaching immigration reforms in half a century, introducing a new “Earned Settlement” framework that significantly expands the timeline for migrants to obtain Indefinite Leave to Remain (ILR).

The Home Office, confirming the update through Home Secretary Shabana Mahmood, said the new policy redefines settlement as “a privilege that must be earned,” emphasising economic contribution, lawful behaviour and integration into the British system.

Under the redesigned structure, most migrants will now be required to complete 10 years of residency before becoming eligible for ILR — double the previous five-year standard.

New Settlement Tiers and Penalties

The Earned Settlement model evaluates applicants based on four pillars:
character, integration, contribution and residence.
These factors will determine whether an individual qualifies for accelerated settlement, remains on the standard timeline or faces extended waiting periods.

Key changes include:

  • Low-paid Health & Care workers (below RQF Level 6): 15-year route
  • Migrants who accessed public funds: up to 20-year wait
  • Immigration violators (overstayers, illegal entrants): penalties extending settlement to 30 years

Fast-Track Pathways Remain Available

Several categories still qualify for shorter settlement timelines:

  • NHS doctors and nurses: remain on the traditional five-year route
  • High earners with taxable income above £125,140 for three consecutive years: three-year ILR route
  • Workers earning £50,270+ for three years: five-year reduction
  • Public service workers (5-year service): eligible for a five-year reduction
  • Active community volunteers: may shorten residency by 3–5 years
  • C1-level English proficiency: contributes to faster approval
  • Global Talent and Innovator visa holders: eligible in as little as three years

Family members of British citizens, including those under the BN(O) and family routes, may also reduce their settlement timeline by five years.

Who Is Not Affected

The new rules will not apply to:

  • Individuals who already hold ILR
  • EU Settlement Scheme beneficiaries
  • Migrants on the five-year family route
  • Hong Kong BN(O) residents
  • Armed Forces families
  • Windrush scheme participants

Impact on Migrants

The reform will have the biggest impact on skilled workers, whose ILR timeline has now doubled. Dependants will also undergo an independent assessment rather than aligning automatically with the main applicant’s pathway.

Based on Home Office projections, net migration rose by 2.6 million between 2021 and 2024, and settlement grants are expected to reach 1.6 million between 2026 and 2030 under the new structure.

Stakeholders Chart New Path For Nigeria’s Aviation Sector

Lagos–Toronto Becomes Nigeria’s Busiest Long-Haul Route, Signals Further Expansion

Airlines, Others Generate N146bn In Nine Months As Aviation Sector Sees Recovery

Passenger demand on the Lagos–Toronto route surged sharply in 2024, according to new data from the International Air Transport Association (IATA). The route is now one of Nigeria’s fastest-growing long-haul markets.

Speaking at the FAAN National Aviation Conference in Lagos, IATA’s Area Manager for West and Central Africa, Dr Samson Fatokun, said traffic on the Lagos–Toronto route increased by 28 percent year-on-year, while Lagos–New York recorded a 19 percent rise. He explained that the data reflects a growing appetite for international travel that Nigerian airports and airlines should position themselves to harness.

The rise in long-haul travel is unfolding at a time when Nigeria’s domestic aviation sector is under pressure. Recently, BizWatch reported that domestic airlines have lost nearly three million passengers since 2022 as a result of high operating costs, multiple charges and policy constraints. The data was highlighted by the Chief Financial Officer of Aero Contractors, Charles Grant, at the Civil Aviation Cost Recovery and Revenue Optimisation Stakeholders’ Retreat in Lagos. Grant warned that foreign carriers are increasingly absorbing demand that local operators cannot retain, a trend he described as a form of strategic leakage.

This contrast between declining domestic traffic and rising international demand suggests a significant shift in Nigeria’s aviation market. While local carriers continue to battle fiscal and regulatory challenges, long-haul routes such as Lagos–Toronto, Lagos–Manchester and Lagos–New York show strong commercial potential and remain globally underserved. Fatokun noted that these patterns point to opportunities for new nonstop services and deeper international connectivity.

He also cautioned that Nigeria’s rapidly expanding network of airports could face financial strain if operators fail to apply data-driven route development strategies. With more concessioned and state-owned airports being introduced, he said it has become increasingly important for development decisions to align with real traffic patterns in order to avoid underutilised infrastructure and missed growth opportunities.

17 States Now Implementing Contributory Pension Scheme, Says Commission

Funke Akindele’s Curvy New Look Sets Social Media Spinning

Nollywood star Funke Akindele has set social media abuzz after appearing in viral videos with an unusually curvy figure, sparking widespread speculation about whether she had undergone cosmetic surgery. Clips showing the actress with exaggerated hips and a fuller backside circulated across platforms, with many fans expressing surprise at her sudden transformation.

However, the change is purely for a role.

Akindele later revealed that the look is part of a promotional campaign for her upcoming film Behind The Scenes, in which she plays Adetutu Fernandez, a character she describes as having “the body of a goddess.” In one of the videos, she introduces herself in character, saying she spent a fortune to achieve the new figure.

The actress has continued to play along with the narrative, sharing additional content and teasing her audience as anticipation builds for the film’s release. A themed runway video also showcased the film’s cast, which includes Scarlet Gomez, Wandi and Handi, Uche Montana, Tobi Bakare, Ini Dima, Mr Macaroni, Uzor Arukwe, Ibrahim Chatta and Iyabo Ojo.

Akindele’s playful transformation has drawn humorous reactions from colleagues. Deyemi Okanlawon joked, “This one na Akowonjo BBL!” while Mo Bimpe wrote, “Mama! Hipsy funky.” Bisola Aiyeola added, “Aunty Funke, these hips are speaking volumes,” and Broda Shaggi commented that the hips were “fresh out of booty from Doctor Shaggi and Nurse Kiekie.” Janemena also chimed in, describing the look as “so hipsy, momma.”

The comical stunt has continued to fuel conversations online as Akindele ramps up promotion for the film.

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17 States Now Implementing Contributory Pension Scheme, Says Commission

The Nigerian Pension Commission has disclosed that only 17 states are fully implementing the Contributory Pension Scheme, while 12 states have not commenced the programme at all. Seven others, the Commission said, are currently at various stages of establishing their pension bureaus.

Speaking at the Second Run 2025 Consultative Forum for States and the FCT in Benin City, the Director General of the Commission, Ms. Omolola Oloworaran, noted that the micro-pension plan for informal sector workers is being redesigned and rebranded as the Personal Pension Plan to accommodate millions of Nigerians outside the formal workforce.

Oloworaran, represented by the Commissioner in charge of Inspectorate, Samuel Uwandu, praised President Bola Tinubu for approving a ₦758 billion bond through the Federal Executive Council to settle legacy pension liabilities, including accrued rights, pension increases and the minimum pension guarantee.

“Today, under the CPS, that promise is being kept for over 10.9 million workers at the Federal, State and Private Sector levels, with pension assets now topping ₦26 trillion,” she said. “But our mission as an industry is not complete. The success of this national reform rests on its implementation in every state, local government, and across the informal sector.”

She highlighted reforms completed within her first year in office, including the timely payment of accrued pension rights, plans to reintroduce gratuity payments for federal civil servants under the CPS, and the introduction of a new Pension Contribution Remittance System designed to eliminate delays and errors in pension remittances.

The DG emphasised that the effectiveness of Nigeria’s pension reforms depends heavily on adoption by sub-national governments, commending states that have enacted relevant laws and commenced remittances.

In a presentation on new developments in the industry, the Acting Head of Corporate Communications, Ibrahim Buwai, said the pension scheme for informal sector workers provides a flexible structure that allows contributors to save for retirement at their own pace.

Declaring the two-day forum open, Edo State Governor Monday Okpebholo, represented by Secretary to the State Government Musa Ikhilor, said his administration supports the contributory pension scheme. He added that the state is awaiting a detailed report on its pension structure and is ready to implement its recommendations.

Peggy Ovire–Taye Arimoro Clash Renews Fears Over Rising On-Set Violence In Nollywood

Nollywood has once again been thrown into controversy following an on-set altercation between actress Peggy Ovire and actor Taye Arimoro, a dispute that escalated into a public exchange and renewed concerns about professionalism and safety in the film industry.

The incident gained attention after Arimoro posted videos online showing injuries he claimed were inflicted by Ovire and her team. According to him, the confrontation started when he attempted to leave the location because it was getting late and his contracted working hours had ended. CCTV footage shared online also appeared to show Ovire’s team blocking his vehicle as he tried to drive out.

Ovire, however, disputed his account. She said the circulating clips did not show the full context, insisting that the trouble began after Arimoro allegedly assaulted two crew members when asked to return and complete his remaining scenes. She explained that he had no specific call time for the final day of shooting but unexpectedly walked off set before filming wrapped. She added that the tense scene outside began after her driver used her vehicle to stop Arimoro from leaving, following the alleged assault on the production manager.

The clash quickly drew widespread reaction across social media, with many viewers demanding an independent review of what happened. Industry observers say the case underscores the need for clearer policies that protect crew members while ensuring actors meet their obligations.

The Ovire–Arimoro incident is the latest in a worrying pattern of on-set disputes in Nollywood. In October, production manager Anierobi “Nwa South” Courage was arrested after a viral video showed him assaulting makeup artist Mary Eze during the filming of Lagos to Opulence. The Nigerian Film Crew Community condemned the act and called for him to be blacklisted. Earlier in the year, veteran actor Femi Branch was reported to have slapped a first assistant director during a disagreement on set, later issuing an apology to the crew. Other recent controversies include claims by actor Godwin Nnadikwe that he was hospitalised after receiving an unscripted kick from colleague Zubby Michael, and the indefinite suspension of actress Shirley Igwe by the Actors’ Guild of Nigeria following allegations that she assaulted a crew member.

The series of incidents has intensified conversations around the pressure of filmmaking, crew welfare, and the need for enforceable rules that prevent violence on set. Industry groups continue to call for stronger safeguards as Nollywood expands its output and workload.

Stakeholders Chart New Path For Nigeria’s Aviation Sector

Stakeholders Chart New Path For Nigeria’s Aviation Sector

FG Calls For Local, Foreign Investment In Aviation Sector

Stakeholders have outlined a new direction for Nigeria’s aviation sector at the 2025 National Aviation Conference, which many participants described as the most impactful since the series began in 2022.

The forum, held at the Eko Convention Centre in Lagos, gathered state governors, top federal officials, aviation experts, and private-sector players under the theme, “Elevating the Nigerian Aviation Industry through Investment, Partnership and Global Engagement.”

The event drew a high-level audience, including Lagos State Governor Babajide Sanwo-Olu, Borno State Governor Babagana Zulum, and Imo State Governor Hope Uzodimma, while the governors of Plateau and Ogun States were represented. Also present were the Chairman of FAAN’s Board, Dr. Abdullahi Ganduje; the Secretary to the Government of the Federation, Senator George Akume; and the Minister of Aviation and Aerospace Development, Festus Keyamo, represented by the ministry’s Permanent Secretary, Dr. Abubakar Kana.

FAAN’s Managing Director/CEO, Mrs Olubunmi Kuku, said the sector has moved beyond the setbacks triggered by the COVID-19 era and is now positioned for growth, with global passenger traffic projected to reach nearly 5 billion this year. She added that despite past challenges—such as infrastructure deficits and forex pressures—the industry remains open for private-sector investment, noting that every infrastructure gap represents an investment opportunity with “strong multiplier effects.” She referenced ICAO’s estimate that every dollar invested in aviation generates nearly four dollars in economic value.

Kuku outlined ongoing federal investments, including upgrades to six airports and multiple runways, and highlighted FAAN’s six strategic pillars focused on customer-centric operations, modernisation, safety, and workforce development. She said more than 7,000 employees have been trained in the past two years, while partnerships—such as with ATOM Aviation Training Services in Dubai—are strengthening operational capacity.

State governors who participated in the conference commended FAAN for supporting the expansion of state-owned airports and improving facilities in FAAN-managed terminals. Borno State Governor Zulum noted that the recently rehabilitated Muhammadu Buhari International Airport in Maiduguri now offers improved global connectivity, with flight times of under four hours to key destinations in the Middle East and Europe.

The Minister of Aviation, represented at the forum, encouraged investors to explore opportunities in airport expansion, cargo development, and a proposed world-class Maintenance, Repair and Overhaul (MRO) facility, which the government hopes will reduce the billions of naira spent annually on offshore aircraft maintenance.

Panelists at the conference examined the competitiveness of Nigerian airlines in regional and global markets and called for policy reforms, including tax adjustments, single-digit interest loans, and stronger government protection under the Single African Air Transport Market (SAATM). The Chairman of United Nigeria Airlines and spokesperson for the Airline Operators of Nigeria, Prof. Obiora Okonkwo, urged the federal government to enforce reciprocity in aeropolitical agreements, noting that Nigerian carriers often face high charges and restrictive conditions abroad.

The conference concluded by underscoring the aviation sector’s role in national economic growth and highlighting FAAN’s efforts to strengthen the industry through investment, strategic leadership, and expanded stakeholder engagement.

Naira Strengthens As CBN Injects $50m To Improve FX Liquidity

Qatar Airways Fined N5 Million By NCAA For Passenger Rights Breach

NCAA Blames COVID-19 Pandemic For Hike in Airfares

Qatar Airways has been fined five million naira by the Nigeria Civil Aviation Authority (NCAA) for violating passenger rights and failing to comply with regulatory directives. The sanction reflects NCAA’s commitment to enforcing consumer protection across all airlines operating in Nigeria, including major international carriers.

The authority’s Director of Public Affairs and Consumer Protection, Michael Achimugu, confirmed that the fine follows repeated warnings to Qatar Airways over delayed responses to mandatory inquiries. This penalty is the first in a series of pending cases against the airline and signals that further action may be taken if the company does not resolve outstanding issues.

The enforcement stems partly from a September incident involving a Nigerian passenger and his spouse traveling through Doha. According to NCAA, the passenger was detained for over 18 hours after being accused of inappropriate behavior during boarding in Lagos. The passenger paid fines, signed documents in Arabic, and was ultimately denied boarding on his onward flight. Qatar Airways reportedly failed to engage with regulators following the incident, prompting the fine.

The NCAA emphasized that ignoring official letters and regulatory instructions constitutes a breach of national aviation laws. Achimugu noted that all airlines, whether foreign or domestic, must comply with Part 19 of NCAA regulations, which cover passenger rights, complaint handling, and mandatory communication with authorities.

Qatar Airways is not alone in facing scrutiny. Royal Air Maroc and Saudia have received compliance notices for similar issues, and further penalties may follow if unresolved cases persist.

The five-million-naira fine underscores NCAA’s determination to hold airlines accountable and ensure that travelers in Nigeria are treated fairly, safely, and with dignity. The regulator has made clear that non-compliance with consumer protection rules will attract swift and enforceable consequences.

Liquidity Stays Strong As Funding Costs Ease Despite Heavy CBN OMO Sales

Shettima Urges Automakers To Boost CNG And Electric Vehicle Production

FG Did Not Apply To Join BRICS - Shettima

Vice-President Kashim Shettima has called on Nigerian automotive manufacturers to ramp up production of Compressed Natural Gas (CNG) and electric vehicles (EVs) to meet growing demand for clean mobility, even as the limited number of CNG refuelling stations continues to constrain adoption. Speaking in Abuja during the 25th Abuja International Motor Fair, themed “Driving Nigeria’s Automotive Future: Innovation, Sustainability, and Growth,” Shettima, represented by Minister of Innovation, Science and Technology Kingsley Udeh, described the automotive industry as “the engine of the Renewed Hope Agenda.”

He emphasised that the government’s strategy for mobility is anchored on three pillars: Gas, Green, and Growth, highlighting Nigeria’s abundant gas reserves as a pathway to affordable mass transit. Shettima said the deployment of CNG for public transportation is crucial to cushioning the effects of economic reforms while providing lasting, affordable relief for millions of Nigerians. He urged manufacturers to prepare for rising demand for CNG-powered vehicles, CNG kits, and electric vehicles, stressing that local production, battery assembly, and youth training are vital for Nigeria to secure a place in the global EV supply chain.

Shettima noted that the government has made N20 billion available through Credit Corp to support purchases of locally assembled vehicles, describing affordable financing as key to stimulating demand, expanding production, and creating jobs. He reiterated the administration’s ambition to position Nigeria as the West African hub for CNG and electric mobility under the Nigeria First Policy.

Despite policy support and investments, infrastructure gaps remain a challenge. Nigeria currently has fewer than 50 operational CNG refuelling stations, limiting mass adoption. Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, highlighted the urgent need for hundreds of additional stations to facilitate the transition of public transport fleets from petrol to CNG.

Senator John Enoh, Minister of State for Industry, reaffirmed the government’s commitment to the automotive sector through stable policies and targeted incentives, while Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC), emphasised the council’s work to revive the industry via the National Automotive Industry Development Plan. With about 30 active vehicle assemblers and nearly $1 billion in investments, Nigeria’s automotive sector shows strong long-term potential despite infrastructure and financing challenges.

Ifeanyichukwu Agwu, Managing Director of BKG Exhibition Limited and co-organiser of the motor fair, called for a functional national vehicle-financing scheme, stressing that affordable access to mobility is critical for economic growth. The 25th Abuja International Motor Fair continues to showcase innovations, new-energy vehicles, and local manufacturing capacity, reflecting the sector’s vital role in Nigeria’s industrialisation and sustainable development.

LASG Engages Retirees On Healthcare, Pension Improvements

Bitcoin Heads For Worst Monthly Decline Since 2022 Market Meltdown

IMF To Nigeria, Others: Tax Crypto Users

Bitcoin is on track to post its steepest monthly decline in more than three years, as renewed volatility grips the cryptocurrency market, evoking memories of the 2022 collapse that crippled major digital asset firms.

The flagship cryptocurrency slipped by as much as 6.4 per cent to $81,629 on Friday before staging a mild recovery to $84,166 as of 7:42 a.m. London time. Ether, the second-largest digital coin, also tumbled 7.6 per cent, falling below the $2,700 mark.

Data from Bloomberg show Bitcoin has lost about 23 per cent of its value in November, marking its sharpest monthly slump since June 2022.

The current downturn has drawn comparisons with the 2022 implosion of TerraUSD, the stablecoin created by Do Kwon, which triggered a domino effect across the industry. That chain reaction culminated in the dramatic collapse of Sam Bankman-Fried’s FTX exchange, erasing billions in investor funds and shaking global confidence in digital assets.

Despite a friendlier regulatory tone from the White House under U.S. President Donald Trump and increasing institutional participation, Bitcoin has now plunged more than 30 per cent from the all-time high it reached in early October.

The rout has been compounded by sweeping liquidations across the market. On 10 October, leveraged token bets worth $19 billion were wiped out, contributing to a loss of roughly $1.5 trillion in total crypto market capitalisation.

The pressure intensified in the past 24 hours, with CoinGlass reporting an additional $2 billion in leveraged positions liquidated. Institutional demand has also shown signs of cooling. A group of 12 U.S.-listed Bitcoin exchange-traded funds (ETFs) saw $903 million in net outflows on Thursday, their second-largest single-day redemption since launching in January 2024.

Similarly, open interest in perpetual futures has declined 35 per cent from its October peak of $94 billion, signalling a pullback in speculative trading.

Weakness in the wider financial markets has further weighed on sentiment. U.S. equities, which recently surged on optimism surrounding artificial intelligence after strong Nvidia earnings, have since retreated amid concerns over lofty valuations and uncertainty surrounding a potential Federal Reserve rate cut in December.

“Sentiment across the board is incredibly poor. There appears to be a forced seller in the market and it is unclear how deep this goes,” said Pratik Kala, portfolio manager at Australian hedge fund Apollo Crypto.

Earlier in the month, Bitcoin was trading around $107,500 despite a modest 2.2 per cent dip, as investors awaited key U.S. employment data. Ethereum fell 3 per cent to about $3,750 at the time, while several altcoins also struggled amid subdued trading activity.

Bitcoin’s ongoing decline underscores the fragility that still characterises the digital asset market, despite growing institutional involvement and broader acceptance. Investors and analysts are watching closely to determine whether the current slump marks a temporary correction or a deeper structural downturn.

Dollar To Naira Exchange Rate For 21st November 2025

Dollar To Naira Exchange Rate For 21st November 2025

Dollar To Naira Exchange Rate For 8th Dec 2023

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1460.00 per $1 on Friday, November 21st , 2025. The naira traded as high as 1449.00 to the dollar at the investors and exporters (I&E) window on Thursday.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1474 and buy at ₦1460 on Thursday 20th November, 2025, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)Black Market Exchange Rate Today
Selling Rate₦1474
Buying Rate₦1460

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)CBN Rate Today
Highest Rate₦1460
Lowest Rate₦1449

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Expert Calls For Nationwide Push On Private-Sector Health Insurance Compliance
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