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Autopsy report confirms m¥rder of former Ondo SDP governorship candidate Akingboye

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Autopsy report confirms m¥rder of former Ondo SDP governorship candidate Akingboye

Autopsy report confirms m¥rder of former Ondo SDP governorship candidate Akingboye; seven family members rearrested as suspicion arises over ₦50 million transferred from the deceased’s account

The Lagos State Police Command has confirmed that former Social Democratic Party (SDP) governorship candidate in Ondo State, Bamidele Akingboye, was m¥rdered.

Lagos Commissioner of Police, CP Olorundare Jimoh, told Channels Television that the autopsy report has been concluded, enabling investigators to advance the case.

He noted that the autopsy conducted on September 11 and other recent findings led to the arrest and re-detention of seven of the fourteen Akingboye family members earlier questioned.

The police are now awaiting legal advice from the Directorate of Public Prosecution (DPP) to determine the next steps. Detectives from the State Criminal Investigation Department (SCID), Panti, Yaba, had earlier arrested and interrogated nine relatives and aides over the circumstances surrounding the politician’s d+ath.

One major concern was a suspicious ₦50 million transfer from Akingboye’s account, allegedly shared by some immediate family members. “With the toxicology results completed, we await the DPP’s advice so prosecution can begin against anyone found culpable,” CP Jimoh said.

Akingboye d+ed under unclear circumstances on September 3, with relatives claiming his b@dywas discovered in the backyard of his home.

His first son, Samuel Akingboye, who resides in Ondo State, notified the police and demanded a comprehensive investigation.

CP Jimoh reaffirmed the Command’s commitment to uncovering the truth and ensuring justice is served.

 

S&P Global Revises Nigeria’s Credit Outlook to Positive, Cites Reform Progress and Improving Indicators

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S&P Global Revises Nigeria’s Credit Outlook to Positive, Cites Reform Progress and Improving Indicators

S&P Global Ratings has upgraded Nigeria’s sovereign credit outlook from stable to positive, reflecting renewed optimism over the country’s ongoing economic reforms and strengthening macroeconomic indicators. The ratings agency simultaneously affirmed Nigeria’s long- and short-term foreign and local currency ratings at ‘B-/B’, as well as its national scale ratings of ‘ngBBB+/ngA-2’.

In its assessment, S&P said the improved outlook underscores Nigeria’s progress in stabilising its fiscal, monetary, and external positions.

“The positive outlook reflects improving external, economic, fiscal, and monetary results,” the agency stated, while noting that persistent challenges remain, including low GDP per capita, elevated debt servicing obligations, and weak statistical systems.

Reforms Underpin Upgrade

The revised outlook comes on the back of a sweeping set of reforms rolled out since mid-2023 under President Bola Tinubu’s administration. Key actions include:

  • Exchange rate liberalisation aimed at unifying Nigeria’s FX market
  • Removal of fuel subsidies, freeing up revenue for public spending
  • Efforts to broaden government revenue collection
  • Increasing crude oil output following operational improvements and better pipeline security
  • Support from the commissioning of the Dangote refinery, expected to boost energy self-sufficiency and reduce import burdens

According to S&P, these policy steps have placed Nigeria on a “more stable fiscal and monetary trajectory” and improved confidence among investors and development partners.

Path Toward Greater Resilience

S&P also acknowledged the Nigerian authorities’ broader push to strengthen economic resilience and long-term growth potential.

“We think authorities are taking steps to improve the economy’s growth prospects and macroeconomic resilience,” the agency added.

Analysts say the positive outlook—typically a precursor to a potential upgrade—signals growing international confidence in Nigeria’s reform direction. However, sustained implementation will be critical, especially as the country continues to contend with inflationary pressures, foreign exchange volatility, and structural production constraints.

With the outlook now improved, Nigeria could be positioned for stronger credit ratings in the near future if reforms continue to gain traction and macroeconomic gains hold steady.

SEC, FMBN Launch Non-Interest Mortgage Scheme to Tackle Nigeria’s 28 Million Housing Deficit

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SEC, FMBN Launch Non-Interest Mortgage Scheme to Tackle Nigeria’s 28 Million Housing Deficit

The Securities and Exchange Commission (SEC) and the Federal Mortgage Bank of Nigeria (FMBN) have entered into a strategic partnership to establish a comprehensive Non-Interest Mortgage (NIM) scheme aimed at reducing Nigeria’s massive housing deficit, currently estimated at over 28 million units.

The initiative was formally announced on Friday during a high-level meeting in Abuja, where both institutions outlined plans to expand access to homeownership through ethical, Sharia-compliant financing models. The scheme is designed to accommodate millions of Nigerians who remain excluded from conventional, interest-based mortgage products.

A Major Step Toward Inclusive Housing Finance

Officials say the NIM framework will offer structured, non-interest home financing options that align with Islamic financial principles—an important development in a country where a significant portion of the population does not participate in interest-bearing financial services.

For decades, Nigeria’s housing deficit has been compounded by limited funding mechanisms, high construction costs, restrictive loan terms, and a shortage of mortgage products suited to diverse income and religious groups. By integrating capital market expertise from the SEC with FMBN’s experience in housing finance, the partners aim to create a scalable, affordable, and culturally acceptable solution.

A Catalyst for Housing Sector Reform

The collaboration is expected to lay the foundation for innovative housing products that can attract new investors, deepen the non-interest capital market, and enhance mortgage accessibility for low- and middle-income earners.

SEC and FMBN officials described the partnership as a “catalyst for bridging the housing deficit” and a key milestone in the government’s broader drive to reform the housing sector.

As implementation plans advance, stakeholders say the scheme could mark a turning point for millions of Nigerians seeking stable homeownership pathways without violating personal or religious principles.

Nduka Obaigbena Unveils “Lekeleke,” a New African-Owned Social Media Platform

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Nduka Obaigbena Unveils “Lekeleke,” a New African-Owned Social Media Platform

Media mogul and founder of THISDAY and ARISE News, Prince Nduka Obaigbena, has announced plans to launch “Lekeleke,” a new African-owned social media platform intended to strengthen the continent’s presence in the global digital ecosystem.

Obaigbena revealed the project at the 2025 All Nigeria Editors Conference in Abuja, where he emphasized the urgent need for Africa to develop and control its own digital infrastructure. He warned that the continent’s rising dependence on platforms built and governed by the United States and China leaves Africa vulnerable to external influence, data insecurity, and limited autonomy.

Championing Digital Independence

Speaking to senior editors, Obaigbena said Lekeleke is part of a broader push to ensure African voices, content creators, and media institutions can thrive on platforms rooted in the continent’s cultural, economic, and regulatory realities. The upcoming platform is expected to promote homegrown innovation, protect user data locally, and provide new economic opportunities for African creatives.

He argued that Africa must move beyond being “digital consumers” to becoming architects of its own technologies, noting that local platforms are critical for safeguarding sovereignty in an increasingly data-driven world.

A New Frontier for African Tech

While details of the platform’s launch timeline and features remain under wraps, its announcement has already sparked conversations in media and tech circles about Africa’s next steps in asserting control over its digital future.

Analysts say Lekeleke could emerge as a symbolic and strategic milestone, marking one of the most ambitious attempts to establish a competitive African-owned social network on the global stage.

As preparations continue, Obaigbena’s move signals a growing recognition that Africa’s digital destiny must be shaped by Africans themselves—one platform at a time.

Ex-Access Bank Operations Head Arraigned for Alleged $510,000 Diversion, Forgery — EFCC

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Ex-Access Bank Operations Head Arraigned for Alleged $510,000 Diversion, Forgery — EFCC

A former Head of Operations at Access Bank, Obinna Nwaobi, has been arraigned before the Federal High Court in Enugu State over allegations of diverting a customer’s $510,000 and forging a document to facilitate the fraud.

The Economic and Financial Crimes Commission (EFCC) disclosed the development in a statement released on Friday.

According to the EFCC, its Enugu Zonal Directorate presented Nwaobi before Justice F. O. Giwa-Ogunbanjo on Thursday. The defendant was docked on charges bordering on fraud, criminal diversion, and document falsification. He, however, pleaded not guilty to all counts.

Details of the Alleged Offence

Investigators allege that Nwaobi, while serving as a senior official within Access Bank, manipulated internal processes to divert the funds belonging to a customer. The prosecution also claims he forged a key document to conceal the fraudulent transaction.

The EFCC stated that the offences violate provisions of the Money Laundering (Prohibition) Act and other relevant financial regulations.

Case Continues

Following his plea, the court adjourned the matter to allow the prosecution and defence prepare for trial. Nwaobi is expected to remain in custody or meet bail conditions pending the next hearing.

The EFCC reaffirmed its commitment to pursuing financial crime cases, noting that corruption and internal banking fraud pose threats to Nigeria’s financial stability and public trust.

Further updates are expected as the trial progresses.

Paystack CTO Ezra Olubi Faces Online Backlash Over Sexual Misconduct Allegations

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Paystack CTO Ezra Olubi Faces Online Backlash Over Sexual Misconduct Allegations

Ezra Olubi, Co-founder and Chief Technology Officer of Paystack, one of Africa’s most prominent fintech companies, has become the centre of a growing online firestorm following a wave of sexual misconduct allegations circulating across social media.

What began as a cryptic post on X (formerly Twitter) quickly spiraled into a wider scandal, prompting users to resurface old tweets, past commentary, and disputed claims tied to Olubi  many of which remain unverified. The controversy has triggered intense debates about power dynamics, personal accountability, and workplace culture within Africa’s rapidly expanding tech sector.

Paystack Responds With Internal Investigation

In response to the public uproar, Paystack issued a statement confirming that it has launched an internal review into the allegations. The company emphasized that it does not take accusations lightly and will follow its established procedures to determine whether any actions taken by its executive violated internal policies or professional standards.

Industry observers say the incident underscores the need for stronger safeguards, clearer HR structures, and transparent reporting channels within African startups, especially as companies scale and diversify their leadership.

Public Calls for Police Involvement

Beyond Paystack’s internal response, a number of Nigerians online are calling for formal involvement from law-enforcement agencies. Some social media commenters have urged the Nigerian Police to investigate what they described  based on Olubi’s own historic posts  as “self-confessed misconduct.”

However, as of now, no official complaints or charges have been publicly confirmed, and authorities have not announced any formal investigation.

A Moment of Reckoning for Nigeria’s Tech Ecosystem

The situation has sparked broader questions about ethics, corporate governance, and personal behaviour in a sector often celebrated for innovation but increasingly scrutinized for its internal cultures. Analysts warn that how Paystack and other tech leaders navigate this moment could set important precedents for accountability across the continent’s digital economy.

For now, Ezra Olubi has not issued a detailed public statement addressing the allegations, leaving the industry and the wider public waiting for clarification as the fallout continues to unfold.

Lagos Govt Outlines Measures to Ease Traffic During Lekki–Ajah Road Rehabilitation

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The Lagos State Government has unveiled a series of measures aimed at easing traffic congestion and reducing the inconvenience caused by the ongoing rehabilitation of the Lekki–Ajah corridor, a key route for thousands of daily commuters.

In a statement released on its official X (formerly Twitter) account, the government acknowledged the concerns raised by residents and motorists over the traffic disruptions along the axis, especially with the festive season—typically marked by heavier road usage—fast approaching.

Alternative Routes and Strengthened Diversions

To mitigate gridlock, the government announced that several alternative routes are being opened, expanded, and strengthened. Among these are the Coastal Road, adjoining service lanes, and other feeder routes that can support smoother diversions while major segments of the road undergo reconstruction.

Officials say the goal is to ensure that motorists have multiple options to navigate the area without being heavily affected by the construction activities.

Night-Shift Construction Strategy Activated

The state also confirmed the implementation of a night-shift work strategy, allowing key aspects of the rehabilitation to take place when traffic volume is significantly lower. This approach, it said, will speed up delivery timelines while ensuring that daytime movement is not excessively disrupted.

According to the government, concentrating heavy construction work at night is part of a broader traffic-management plan coordinated with relevant agencies, including LASTMA and traffic enforcement units.

Government Acknowledges Residents’ Concerns

“We appreciate the concerns expressed by residents and commuters regarding the ongoing rehabilitation works,” the statement read, adding that the government remains committed to minimizing discomfort for all road users.

Authorities reiterated that the rehabilitation of the Lekki–Ajah corridor is necessary to improve long-term mobility, enhance road safety, and address years of structural deterioration.

NCP Approves Completion of Performance Agreements for Afam Power Sale

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NCP Approves Completion of Performance Agreements for Afam Power Sale

Abuja — The National Council on Privatisation (NCP) has given the green light for the Bureau of Public Enterprises (BPE) to finalize Performance Agreements (PAs) with Transcorp Power Consortium concerning the sale of Afam Power Plc and Afam III Fast Power Limited.

The approval was granted during the NCP’s third meeting of 2025, chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja. The decision follows a memorandum presented by BPE Director-General, Ayodeji Ariyo Gbeleyi.

According to Gbeleyi, the new PAs are intended to formalize outstanding post-acquisition obligations while setting operational benchmarks to ensure the commercial viability of Afam’s power assets. He noted that the Federal Government had already received N53.9 billion from the privatization proceeds, with the assets fully transferred to Transcorp Power Consortium following the initial transaction in November 2020.

The DG further explained that government restructuring in early 2024 necessitated updated documentation to align the original agreements with revised performance expectations, investor commitments, and regulatory requirements.

The move marks a key step in consolidating the privatization of one of Nigeria’s strategic power assets, ensuring that both investors and the government meet mutually agreed operational targets.

Hong Kong Expands Short-Term Visa Scheme to Attract Global Professionals

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Hong Kong Expands Short-Term Visa Scheme to Attract Global Professionals

Hong Kong — The Hong Kong Special Administrative Region (SAR) government has expanded its Immigration Facilitation Scheme for Visitors Participating in Short-term Activities in Designated Sectors (STV Scheme), making it easier for international professionals to enter the city for work-related engagements.

The STV Scheme allows foreign professionals to participate in short-term activities, including meetings, events, and projects within approved sectors, without the need for a full employment visa. Visitors under the program can stay in Hong Kong for up to 14 days per visit.

According to authorities, the initiative is aimed at promoting international knowledge exchange and facilitating the participation of global talent in key economic sectors.

Under the scheme, invited participants do not require an employment visa or entry permit, streamlining the process for professionals seeking brief but productive visits to Hong Kong.

The expansion is part of Hong Kong’s broader strategy to strengthen its position as a hub for international business and professional collaboration.

Nairametrics Launches Nigeria Mega Corporate Index (NMX-100) to Track Top Companies

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Nairametrics Launches Nigeria Mega Corporate Index (NMX-100) to Track Top Companies

Lagos — Nairametrics has officially unveiled the Nigeria Mega Corporate Index 100 (NMX-100), a new data-driven platform that ranks Nigerian companies generating at least N100 billion in annual revenue.

The index, built on the latest audited financial statements, provides a transparent and reliable snapshot of corporate performance across Nigeria’s leading sectors. It offers easy access to detailed financial information for over 100 top companies, including key performance indicators such as revenue, profit, dividends, and other critical metrics.

Designed for investors, business leaders, and analysts, the NMX-100 aims to be a one-stop resource for financial insights, enabling informed decision-making and fostering greater transparency in the Nigerian corporate landscape.

This initiative reflects a growing effort to highlight corporate performance and strengthen accountability among Nigeria’s largest businesses.

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