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LIRS Seals Ikeja Shoprite Over Alleged Tax Noncompliance

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LIRS Seals Ikeja Shoprite Over Alleged Tax Noncompliance

Popular Ikeja City Mall Outlet Shut Down as LIRS Enforces Tax Obligations

LAGOS, NIGERIA — The Lagos State Internal Revenue Service (LIRS) has taken decisive action, sealing the popular Shoprite outlet located at the Ikeja City Mall due to alleged failure to comply with its tax obligations.

The enforcement action was carried out on Monday, effectively shutting down the operations of the major retail store.

Breach of Personal Income Tax Act

A notice posted prominently at the entrance of the retail giant, and seen by TheCable, confirmed the reason for the closure.

The LIRS stated that the breach—the alleged failure to meet tax obligations—constitutes an offense punishable under the law. Specifically, the LIRS referenced Section 94 of the Personal Income Tax Act, 2011 (as amended).

This section specifies that noncompliance with tax obligations is an offense punishable by both fines and imprisonment. The sealing serves as a severe enforcement measure aimed at compelling the retail outlet to address its outstanding tax liabilities to the state government.

The action against such a high-profile establishment underscores the LIRS’s commitment to rigorous tax enforcement across the state to boost internal revenue generation.

CBN Governor Cardoso Inaugurates ACGSF Board, Signals ‘New Dawn’ for Agricultural Financing Revitalized Scheme Aims to Transform Nigeria’s Agricultural Sector

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CBN Governor Cardoso Inaugurates ACGSF Board, Signals ‘New Dawn’ for Agricultural Financing Revitalized Scheme Aims to Transform Nigeria’s Agricultural Sector

ABUJA, NIGERIA — The Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, officially inaugurated the new board for the Agricultural Credit Guarantee Scheme Fund (ACGSF) in Abuja on Tuesday.

Speaking at the ceremony, Cardoso heralded the inauguration as signaling “a new dawn” for agricultural financing across the country. He underscored the critical role the scheme plays in the nation’s economic structure.

Nigeria’s Oldest Development Finance Programme

Dr. Cardoso described the ACGSF as one of Nigeria’s oldest and most vital development finance programmes. Established in 1977, the scheme is a key mechanism designed to de-risk the agricultural sector by providing guarantees for loans granted by commercial banks to farmers. This guarantee minimizes the risks faced by lending institutions, thereby encouraging them to increase their credit allocation to the agricultural value chain.

The Governor emphasized that a revitalized ACGSF is a critical tool for transforming the agricultural sector, which is essential for national food security, job creation, and economic diversification.

The inauguration of the board is expected to bring renewed focus, robust governance, and improved efficiency to the fund’s operations, ensuring it meets its mandate of facilitating increased access to credit for small-scale farmers and agricultural enterprises.

Governor Sanwo-Olu Inaugurates Danjuma’s Mega Logistics Hub to ‘Redefine’ West African Trade

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Governor Sanwo-Olu Inaugurates Danjuma’s Mega Logistics Hub to ‘Redefine’ West African Trade

TY Logistics Park FZE Opens Grade-A Facility in Lekki Free Zone

LAGOS, NIGERIA — Lagos State Governor Babajide Sanwo-Olu has officially inaugurated a major new logistics facility—the TY Logistics Park FZE—a project owned by former Minister of Defence, General Theophilus Danjuma (rtd).

The newly commissioned logistics hub, located within the Alaro City area of the Lekki Free Zone (LFZ), is touted as a facility that will redefine how goods move across the West African sub-region.

A Four-Year Vision Comes to Life

The unveiling ceremony, held on Monday at the TY Logistics FZE Logistics Park, marks the culmination of a four-year strategic vision to transform regional trade infrastructure.

The facility is characterized as a Grade-A free zone contract logistics facility. This classification signifies that the park adheres to the highest international standards in terms of quality, design, and operational efficiency, offering modern warehousing, supply chain management, and handling services.

The location within the Lekki Free Zone provides the park with significant operational and fiscal advantages, including customs duty exemptions, simplified import/export procedures, and unrestricted foreign currency repatriation. This integration into the LFZ is key to the facility’s goal of becoming a central node for regional and international trade logistics.

The park is expected to enhance Nigeria’s position as a gateway to West Africa by providing the infrastructure necessary for efficient, high-volume handling of goods, thereby reducing supply chain bottlenecks and supporting economic growth.

Femi Adebayo Announces Agesinkole: King of Thieves 2 with Unprecedented Community Cinema Tour

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Femi Adebayo Announces Agesinkole: King of Thieves 2 with Unprecedented Community Cinema Tour

Nollywood blockbuster mastermind Femi Adebayo has officially unveiled the highly anticipated sequel to his record-breaking 2022 epic, Agesinkole: King of Thieves 2. In a significant and nostalgic departure from modern cinema distribution, Adebayo announced the film will not debut in conventional cinemas but will instead embark on a nationwide Community Cinema tour this festive season.

The decision, which the filmmaker described as a “small way to say thank you to everyone who has supported me over the years,” harks back to the “good old days when the whole street gathered to watch greatness unfold.”

A Return to the Grassroots

Agesinkole 2 is scheduled to begin its unique run from December 24th through to January 4th (presumably spanning the 2025/2026 holiday season).

This community-focused strategy makes the film highly accessible, with ticket prices significantly discounted compared to standard cinema rates:

  • Lagos: ₦4,000

  • Outside Lagos (Nationwide): ₦3,000

While the specific locations for the community screenings are yet to be revealed—fans have been instructed to “Watch out for locations in the next video”—the move is a clear effort to connect with audiences at a grassroots level, reviving the communal viewing experience for which Nigerian cinema was once known.

Building on a Blockbuster Legacy

The sequel follows the immense success of the original 2022 film, King of Thieves (Agẹṣinkólé). The first installment, which starred Adebayo himself as the titular, all-powerful bandit terrorizing the fictional Kingdom of Ajeromi, was a cinematic game-changer. It redefined the Yoruba epic genre in Nollywood, celebrated for its high production values, complex mythical themes, and stunning visuals.

King of Thieves became a commercial giant, grossing over ₦320 million at the box office and cementing its place as one of the highest-grossing Nigerian films of all time. Its critical acclaim led to eight nominations at the 2023 Africa Magic Viewers’ Choice Awards (AMVCA), including Best Overall Movie, and a win for Best Art Director.

Production and Cast Details

For the second installment, Femi Adebayo’s Euphoria360 Media has partnered with Circuitsstreams and @HawkstudiosHQ for co-production. The distribution mantle has been taken up by BLUE Pictures Distribution. Notably, while the first film was co-produced with Anthill Studios, this sequel features a new configuration of creative partners.

Early reports suggest the sequel will introduce a fresh cohort of talent alongside returning stars. Confirmed additions to the already acclaimed cast include veteran actors such as Yemi Solade, Bimbo Akintola, and Gabriel Afolayan.

Femi Adebayo’s return as the feared Agesinkole promises another chapter in the saga of the notorious thief, with the filmmaker teasing: “The legend has returned, and the kingdom will never be the same.”

As the release date approaches, anticipation is high for the announcement of the screening venues, marking the countdown to what is shaping up to be one of the most unconventional and community-focused film rollouts in recent Nollywood history.

Check Video Details Below: https://www.instagram.com/reel/DR99lqqCJ6L/?utm_source=ig_web_copy_link&igsh=MzRlODBiNWFlZA==

UN Slashes 2026 Aid Appeal to $23 Billion Amid Plunging Donor Support, Focuses on Most Urgent Crises

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UN Slashes 2026 Aid Appeal to $23 Billion Amid Plunging Donor Support, Focuses on Most Urgent Crises

UNITED NATIONS, NEW YORK — The United Nations (UN) announced a dramatic reduction in its annual humanitarian aid request for 2026, appealing for $23 billion—roughly half the amount sought in the previous year—as global donor funding continues its steep decline.

The revised figure represents the immediate funding priority within the larger $33 billion Global Humanitarian Overview (GHO) 2026 budget, which was officially launched by the organization on Monday. This unprecedented reduction underscores the deepening financial constraints faced by the international aid community, forcing the UN to make agonizing choices about which lifesaving programs to prioritize.

Record Needs vs. Record Shortfall

The release of the 2026 GHO comes against a backdrop of record humanitarian needs worldwide. Millions of people are currently affected by a confluence of devastating crises, including:

  • Protracted conflicts and wars

  • Intensifying climate disasters

  • Persistent epidemics

  • Widespread crop failures and surging global hunger

  • Mass displacement

Despite this escalating demand for assistance, the UN’s Office for the Coordination of Humanitarian Affairs (OCHA) has been compelled to lower its appeal. According to spokespeople, the decision reflects the harsh reality of dwindling contributions from member states and private donors.

“This reduced appeal is not a reflection of reduced need; it is a difficult and pragmatic decision,” a senior UN official stated during the launch. “With donor support continuing to fall, we are forced to focus only on the most urgent, life-threatening cases to stretch every dollar.”

Prioritizing the Immediate and Essential

The $33 billion GHO 2026 budget is designed to provide essential, lifesaving support to millions of the world’s most vulnerable individuals. However, the UN is now concentrating its efforts on securing the initial $23 billion to fund critical, immediate interventions.

This means programs deemed less urgent, such as long-term resilience building or certain recovery initiatives, may face deep cuts or be suspended entirely. Aid agencies are bracing for a difficult year, where the focus will shift almost exclusively to delivering basics like food, clean water, emergency shelter, and essential medical care to stave off famine and widespread death.

Attacks on Aid Workers Complicate Delivery

Compounding the funding crisis is the growing threat to humanitarian personnel. The 2026 GHO launch highlighted a concerning rise in deadly attacks against aid workers in conflict zones, making the delivery of assistance more dangerous and complex than ever before. This security challenge adds another layer of difficulty to reaching those in desperate need, even where funding is available.

The launch of the Global Humanitarian Overview serves as a stark warning to the international community: while global crises multiply, the resources available to respond are shrinking significantly, threatening the lives of the most vulnerable populations across the globe.

Nigeria’s Bonny Light Crude Shows Early Signs of Stabilization After Market Slide

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Nigeria’s Bonny Light Crude Shows Early Signs of Stabilization After Market Slide

Nigeria’s benchmark crude grade, Bonny Light, has steadied after the steepest downturn in the international oil market in almost three weeks. The decline had been driven by mounting concerns about global oversupply, which has unsettled traders since late November.

Bonny Light last changed hands at 65.77 dollars per barrel. This places it about two percent below its late-November peak when it hovered between 66 and 67 dollars. Average prices for the month now stand at roughly 65.5 dollars per barrel, a notable drop from the 70.20 dollars recorded in September 2025. The current level remains far short of Nigeria’s 2025 budget benchmark of 75 dollars per barrel, deepening pressure on government revenues and widening the fiscal gap.

International benchmarks have followed similar patterns. Brent crude traded slightly above 62 dollars per barrel after losing two percent on Monday. West Texas Intermediate settled near 59 dollars. Market attention is now shifting to a series of outlook reports due this week. The International Energy Agency and OPEC are expected to release updates on supply and demand, while the United States Energy Information Administration will issue its Short-Term Energy Outlook on Tuesday.

Early indications from the IEA suggest a possible record surplus next year. This has reinforced the cautious mood among traders who are weighing the combined influence of Russian sanctions, potential export controls, and the narrow four-dollar price band that has held since early November. Investors will be studying the forthcoming reports for signs that expectations might shift, either towards tighter supply or a prolonged period of muted prices.

Historic Shift: Saudi Arabia Ends 70-Year Alcohol Ban for Select Non-Muslim Expats

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Historic Shift: Saudi Arabia Ends 70-Year Alcohol Ban for Select Non-Muslim Expats

Riyadh, Saudi Arabia – Saudi Arabia has reportedly begun allowing a select group of non-Muslim foreigners holding “premium residency” status to legally purchase alcohol, effectively ending a 70-year ban that had been strictly enforced across the kingdom.

The landmark move, first reported by The New York Times, marks a major step in the country’s social liberalization under Crown Prince Mohammed bin Salman’s Vision 2030, aimed at making Saudi Arabia a more attractive global business and tourism hub.

The New System: Quotas and Expatriates

The policy change applies only to a very specific, high-value demographic and is executed under rigorous government controls:

  • Who is Eligible? The new privilege is limited to wealthy and highly skilled expatriates who have obtained a “premium residency” status, a specialized visa program established in 2019.

  • The Location: Sales are reportedly taking place at a previously diplomat-only store located in the Diplomatic Quarter of Riyadh.

  • Strict Controls: The system operates under strict quotas and a government-linked system that tracks consumption. To gain access, eligible expats must register via a mobile app and receive an authorization code from the Ministry of Foreign Affairs.

The availability of alcohol remains heavily restricted to this highly select group, and public consumption remains illegal and punishable under Saudi law.

Decades of Prohibition

The ban on alcohol consumption and sale was originally imposed in the early 1950s after a diplomatic incident and had been a core fixture of the conservative kingdom’s social fabric. Until this change, diplomatic missions were the only entities permitted to import and sell alcohol, but only to their registered diplomats.

This new system is viewed as an attempt to cater to the Western expatriate workforce necessary for Crown Prince Mohammed bin Salman’s ambitious economic and giga-project development plans, such as Neom. By offering a controlled concession on a significant social constraint, Saudi Arabia is signaling its commitment to making the Kingdom more palatable for international talent.

Breakdown of the Saudi Premium Residency Categories

Saudi Arabia’s Premium Residency (Iqama) scheme, established in 2019, is designed to attract foreign investment and high-skilled talent by offering long-term residency and privileges not available to standard expatriate workers.

The recent policy change allowing a select group of non-Muslim premium residents to purchase alcohol directly applies to those who qualify for these specialized visas, which are broadly divided into the following categories:

1. Unlimited Term Premium Residency

This is the most exclusive category, granting the resident and their family the right to live in the Kingdom indefinitely.

Category Description Key Privileges
Special Talent (Investor) Targeted at highly skilled professionals, researchers, top executives, and major investors who can significantly contribute to the Kingdom’s economic development. This group is believed to be the primary target for the alcohol purchase privilege. * Unlimited residency. * Unrestricted right to own property and real estate across the Kingdom (excluding Mecca and Medina). * Freedom to work and change jobs without a sponsor (Kafala system exemption).

2. Limited Term Premium Residency (Renewable)

This category offers the same key privileges as the Unlimited Term Residency but must be renewed every year. It is generally easier to obtain than the unlimited term.

Category Description Key Privileges
Qualified Specialist Designed for professionals in fields like medicine, engineering, technology, and finance, where the Kingdom has critical skill shortages. * One-year renewable residency. * Exemption from the need for an employer-sponsor (Kafala). * Ability to secure visit visas for family members.
Entrepreneur Targeted at owners and founders of small-to-medium enterprises (SMEs) who bring innovative ideas and commit to a minimum level of investment and job creation. * Renewable residency tied to the performance of the business. * Ability to recruit foreign workers.
Real Estate Owner Granted to individuals who invest a significant minimum amount (currently SAR 4 million or more) in Saudi real estate. * Renewable residency for the resident and family. * Freedom to manage their property investments.

Why This Group?

The policy to allow only Premium Residents to access alcohol is highly strategic:

  • Attracting Top Talent: The privilege serves as a significant non-monetary incentive for the high-value Western and Asian professionals whose skills are crucial to Vision 2030 projects (like NEOM and the Red Sea Project) and who might otherwise choose competing global hubs like Dubai or Singapore.

  • Controlled Access: By linking access to the highly regulated Premium Residency system, the government ensures the number of people consuming alcohol remains small, traceable, and restricted to the highest economic tiers, thereby mitigating social backlash from more conservative elements of the population.

Decolonizing Education: Mali Suspends Teaching of French Revolution, Replaces Colonial History with African Heritage

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Decolonizing Education: Mali Suspends Teaching of French Revolution, Replaces Colonial History with African Heritage

Bamako, Mali – In a decisive move to reclaim its cultural and intellectual sovereignty, Mali’s Ministry of National Education has issued a directive suspending the teaching of the 1789 French Revolution in schools across the country.

The directive, which was formalized in a memo issued to academy directors on October 9, 2025, mandates the immediate withdrawal of the French Revolution lesson from the 9th-grade history curriculum nationwide. This reform is part of a sweeping government initiative to “decolonize” the nation’s education system and center Malian and African identity.

A Curriculum Grounded in African Identity

The suspension of the French Revolution module marks a symbolic and practical shift away from Eurocentric narratives that have dominated the region’s education since the colonial era.

  • Replacing the Narrative: The Ministry has replaced the French colonial curriculum with modules focused on Malian and African history, heritage, and values.

  • New Focus Areas: The revised history curriculum now prioritizes the study of pre-colonial civilizations, such as the Mali and Songhai Empires, the intellectual traditions of Timbuktu, and the legacies of African resistance leaders like Samory Touré who fought against colonial occupation.

  • Strategic Goal: Education officials state that this reform aims to align classroom content with Mali’s current vision of cultural sovereignty, ensuring students understand their own history before that of Europe.

Dropping French as the Official Language

This educational overhaul follows a historic constitutional change regarding the status of the French language in Mali.

  • Official Status Revoked: Under the new constitution enacted by the military junta led by Col. Assimi Goïta, French has been dropped as the country’s “official language” and downgraded to a “working language”.

  • Elevating Local Tongues: In its place, the government has granted official language status to 13 national languages, including Bambara, Bobo, Dogon, and Minianka.

  • Primary Education: The reforms extend to primary schools, where instruction is increasingly being conducted in local languages like Bambara to facilitate better understanding and cultural connection for young learners. Innovative programs, such as those by RobotsMali, are now using Artificial Intelligence (AI) to generate educational content and stories directly in Bambara for students.

Geopolitical Context

These domestic reforms mirror Mali’s shifting geopolitical stance. Since the military junta took power, Mali has systematically severed ties with France—its former colonial ruler—expelling French troops and ambassadors while strengthening alliances with neighbors like Burkina Faso and Niger under the Alliance of Sahel States (AES).

For the Malian government, removing the French Revolution from the classroom is not just a change in syllabus; it is a declaration that Mali’s future will be defined by its own history, not that of Paris.

Nigeria Deploys Fighter Jets and Troops to Foil Coup in Benin; Tinubu Hails Military Intervention

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Nigeria Deploys Fighter Jets and Troops to Foil Coup in Benin; Tinubu Hails Military Intervention

Abuja, Nigeria – President Bola Tinubu has commended the Nigerian Armed Forces for a “swift and decisive” intervention that successfully helped the Government of the Republic of Benin crush a military coup attempt on Sunday morning.

The operation, authorized directly by President Tinubu, involved the deployment of Nigerian Air Force fighter jets and ground troops to support Beninese loyalist forces after mutinous soldiers attempted to seize power in Cotonou.

🚨 The Coup Plot: Seizing the Airwaves

The crisis began early Sunday when soldiers loyal to Colonel Pascal Tigri stormed the national television station in Benin. The plotters broadcast a statement claiming they had:

  • Removed President Patrice Talon from office.

  • Suspended all democratic institutions.

The situation quickly escalated, prompting the Beninese authorities to issue urgent appeals for regional support to save their government.

⚔️ The Nigerian Intervention: Air and Ground Support

According to the Presidency, Benin’s government submitted two separate urgent requests for military assistance, describing the situation as “grave.” President Tinubu responded immediately:

  • Air Superiority: Nigerian Air Force fighter jets were deployed to secure Benin’s airspace. Their specific mission was to help dislodge renegade soldiers from the national broadcaster and a military camp where they had regrouped.

  • Ground Support: Following a second request, Nigeria deployed ground forces to operate strictly under the directives of the Beninese command. These troops were tasked with protecting constitutional bodies and containing armed elements.

  • Surveillance: Nigerian aerial assets continued to provide surveillance and rapid intervention capabilities to support Beninese operations.

✅ Order Restored

Nigeria’s Chief of Defence Staff, General Olufemi Oluyede, confirmed that Nigerian troops are currently on Beninese soil and that all presidential directives were executed effectively.

With the backing of Nigerian units, loyalist Beninese forces launched a counter-operation and regained control of all key sites, including the national television station, after several hours of standoff.

🗣️ Tinubu: “A Firm Stand for Democracy”

Following the restoration of constitutional order, President Tinubu praised the Nigerian military for their professionalism and adherence to the ECOWAS Protocol on Democracy and Good Governance.

“The Nigerian Armed Forces have taken a firm stand in defence of democracy,” Tinubu stated. “Nigeria remains committed to supporting the government and people of the Republic of Benin, particularly in efforts to uphold democratic stability in the region.”

The swift intervention sends a strong signal regarding Nigeria’s foreign policy stance on military takeovers in West Africa, demonstrating a readiness to use force to uphold regional democratic protocols.

Beyond the Dollar: Paul Kagame Calls for a Unified, Resource-Backed African Currency

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Beyond the Dollar: Paul Kagame Calls for a Unified, Resource-Backed African Currency

Kigali, Rwanda – Rwandan President Paul Kagame has issued a powerful challenge to African leaders, calling for the creation of a single, unified African currency that would be “grounded in our own natural wealth, not in the Dollar or the Euro.”

Speaking at the African Economic Summit in Kigali on Tuesday, December 9, 2025, Kagame argued that economic sovereignty is unattainable until the continent frees itself from its heavy reliance on foreign currencies for intra-continental trade and investment.

The Vision: A Currency Grounded in African Assets

Kagame’s proposal echoes a long-standing Pan-Africanist ambition, most famously championed by the late Libyan leader Muammar Gaddafi, who pushed for a gold-backed African dinar. The Rwandan President stressed that Africa possesses abundant natural resources—from minerals and precious metals to vast agricultural capacity—that could serve as the foundation for a stable, common currency.

“Africa must build a unified currency, one grounded in our own natural wealth, not in the Dollar or the Euro. A unified currency is key to strengthening our economic sovereignty and ensuring that the prosperity we create stays here, serving our people first.”

The Challenge of Economic Fragmentation

Kagame pointed to the current economic fragmentation as a major barrier to realizing the continent’s full trade potential, particularly under the African Continental Free Trade Area (AfCFTA) agreement.

  • Inter-Country Trade Barrier: The current system means a Sierra Leonean cannot use the Leone in Nigeria, nor can a Nigerian use the Naira in Sierra Leone. This currency incompatibility extends across the continent, forcing businesses to constantly convert currencies into dollars or euros, adding significant costs, complexity, and currency risk to every transaction.

  • Capital Flight: The reliance on major global currencies often facilitates capital flight and makes African economies vulnerable to monetary policy decisions made in Washington or Brussels, rather than local African needs.

The Call to Action: One Currency, One Africa

President Kagame insisted that the time for debate is over, framing the creation of a single currency as a matter of political will and urgent necessity.

He concluded with a sweeping call for continental integration: “The time is now for one currency, one passport and one Africa.”

The vision, if realized, would simplify cross-border trade, boost tourism, create a massive unified market for investment, and provide the continent with greater leverage in global finance. However, such a project faces immense political hurdles, including agreeing on a common central bank, coordinating diverse fiscal policies, and ensuring economic stability across 54 unique nations.

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