Tag: Economy

Unilag Student Reports lecturer, After he Forcefully slept with Her In His office

September 6, 2025 (updated September 6, 2025) Published by

A lecturer at the University of Lagos (UNILAG), Dr. Samuel Ojogbo, was accused of sexually assaulting a 20-year-old female student of the institution.

According to The ObasEmpire source disclosed that the 300-level student, whose name was withheld, reported the matter to the police on August 28, 2025. She alleged that on August 22, 2025, at about 12:00 p.m., the lecturer had invited her into his office and forcefully had carnal knowledge of her. It was further revealed that she was later taken to a nearby hospital for medical treatment.

The university management confirmed that it was aware of the allegation of sexual impropriety. It stated that the case had already been reported to the appropriate police authorities, while the University’s Safeguarding Centre was providing support to the student.

The Head of the Communication Unit at UNILAG, Adejoke Alaga-Ibraheem, disclosed that the institution had also constituted a panel to investigate the allegation. She assured that the findings would be made public through the appropriate channels upon completion.

She further stated that the university would conduct a thorough investigation and ensure justice for all parties involved. She added that students and other members of the university community were encouraged to report any form of harassment or misconduct through the designated offices.

FG Seeks Fresh $1.75bn World Bank Loan Despite Announcing Revenue Growth

September 5, 2025 (updated September 5, 2025) Published by

The Federal Government is preparing to secure fresh financing from the World Bank to the tune of $1.75bn, even after celebrating a sharp increase in national revenues.

Recall that President Bola Tinubu had on Tuesday declared that Nigeria had already surpassed its 2025 revenue targets.

The Presidency, in its clarification of the president’s claim, said Nigeria raked in N20.59tn between January and August 2025, representing a 40.5 per cent jump compared to N14.6tn recorded in the same period last year. According to Special Adviser to the President on Information and Strategy, Bayo Onanuga, the surge was largely fuelled by non-oil revenues, which now contribute 75 per cent of total government collections.

Despite this strong fiscal performance and officials confirmed that borrowing would continue to bridge funding shortfalls in critical sectors.

Documents from the World Bank indicate that the Washington-based lender is expected to approve $1.75bn in new loans for Nigeria before year-end. The funds will be channelled into agriculture, health, digital infrastructure, and small business financing.

Among the projects earmarked for support is the $500m Nigeria Sustainable Agricultural Value-Chains for Growth project, designed to boost farm productivity and rural development. Also listed is a $500m digital infrastructure programme to expand connectivity and drive technology-driven growth, alongside a $250m health security initiative and a $500m inclusive finance project for micro, small, and medium enterprises.

The anticipated loans, currently at different stages of review and negotiation, show that the country continues to rely on external borrowing. According to World Bank records, the country has already secured $8.4bn in fresh credit lines over the past two years.

Nigerians to Pay Extra N45 Per Litre of Petrol From 2026 Under New Tax Law

September 5, 2025 (updated September 5, 2025) Published by

From January 2026, Nigerians could face higher fuel costs as a result of the new Nigeria Tax Administration Act, which introduces a five per cent surcharge on refined fossil fuel products. If the current pump price of petrol remains at N900 per litre, motorists would pay an additional N45 on every litre purchased.

The surcharge is part of four new tax reform bills signed into law by President Bola Tinubu on June 26, 2025, aimed at broadening government revenue streams, encouraging clean energy adoption, and reducing reliance on fossil fuels.

According to the Act, the surcharge will be applied to chargeable transactions, including the supply, sale, or payment for fossil fuel products—“whichever occurs first.” The levy covers petrol, diesel, aviation fuel, and other refined petroleum products.

However, some products are exempt: household kerosene, cooking gas, Compressed Natural Gas (CNG), and renewable energy sources such as solar, wind, and hydropower.

The Act states: “A surcharge is imposed at five per cent on chargeable fossil fuel products provided or produced in Nigeria, and shall be collected at the time a chargeable transaction occurs.”

Implementation and Oversight

Although the law sets January 2026 as the intended commencement date, the exact timing remains subject to a formal directive from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The minister is expected to announce the effective date through an order published in the Official Gazette.

Administration of the surcharge will fall to the Federal Inland Revenue Service, which will be rebranded as the Nigeria Revenue Service in 2026. The agency has been empowered to collect the levy on a monthly basis and issue further regulations for its enforcement.

Economic and Social Implications

Analysts say the measure reflects government efforts to boost non-oil revenues amid growing fiscal pressures and rising debt obligations. Yet its impact could be controversial, as higher fuel prices often have ripple effects on transportation, food costs, and inflation.

Some argue that the surcharge may accelerate Nigeria’s transition to renewable energy by discouraging heavy dependence on fossil fuels. Critics, however, warn that the immediate effect will be an increased burden on citizens already grappling with high living costs.

The new Act forms part of a broader package of reforms, which also includes the Joint Revenue Board (Establishment) Law and the Nigeria Revenue Service (Establishment) Act, all geared toward strengthening revenue collection and fiscal transparency.

2026 World Cup: 16 countries qualify for tournament [Full list]

September 5, 2025 (updated September 5, 2025) Published by

A total of 16 countries have qualified for the 2026 World Cup.

Uruguay, Colombia and Paraguay secured their spots on Thursday, following the penultimate qualifying fixtures in the South America zone.

There were 3-0 wins for both Uruguay and Colombia, while Paraguay had a scoreless draw.

The trio join already qualified Argentina, Brazil and Ecuador from the continent.

The World Cup next year will have a record 48 teams and will be co-hosted the United States, Mexico and Canada, who all earned automatic qualification.

Other countries who have already booked their places include Japan, New Zealand, Iran, Uzbekistan, South Korea, Jordan and Australia.

A total of 43 will qualify through continental qualifying tournaments, while two more will secure their places in the intercontinental playoffs featuring six teams in March 2026.

BREAKING: EFCC declares Billionaire Businessman, Sujimoto Wanted [PHOTO]

September 5, 2025 (updated September 5, 2025) Published by

The Economic and Financial Crimes Commission (EFCC) on Friday declared Olasijibomi Suji Ogundele, the owner of Sujimoto Luxury Construction Limited wanted.

The commission in a notice issued on its social media platform said Ogundele, 44, is wanted over an alleged case of diversion of funds and a money laundering case.

According to the commission, Ogudele, a native of Ori-Ade Local Government of Osun State and his last known address is G 29, Banana Island, Ikoyi, Lagos State.

The commission appealed to anyone with useful information about his whereabouts to contact its offices in any location across the country.

Anybody with useful information as to his whereabouts should please contact the Commission in its Ibadan, Uyo, Sokoto, Maiduguri, Benin, Makurdi, Kaduna, Ilorin, Enugu, Kano, Lagos, Gombe, Port Harcourt or Abuja offices or through 08093322644; its e-mail address: info@efcc.gov.ng or the nearest Police Station and other security agencies,” EFCC said.

Concerns as CBN quietly pulls down E-Naira Digital Currency

September 3, 2025 (updated September 3, 2025) Published by

Four years after its high-profile unveiling, the Central Bank of Nigeria’s (CBN) digital currency, the eNaira, has quietly slipped offline, leaving the project in limbo.

The Central Bank Digital Currency (CBDC), introduced in October 2021 by then-President Muhammadu Buhari, was promoted as a revolutionary tool to modernize Nigeria’s financial system, enhance cross-border payments, and strengthen the cashless economy.

At the launch, Buhari announced that the apex bank had already minted N500 million worth of eNaira, while 33 commercial banks were integrated into the system. “N500 million has been successfully minted by the Bank, N200 million has been issued to financial institutions, over 2,000 customers have been onboarded and over 120 merchants have successfully registered on the eNaira platform,” he said at the time.

The CBN projected that the initiative could raise Nigeria’s Gross Domestic Product (GDP) by as much as $29 billion by 2031. Officials also emphasized that the platform would evolve through continuous upgrades. “Given that the eNaira is a journey, its unveiling marks only the first step. This journey will continue with a series of modifications, new capabilities, and enhancements to the platform,” the bank noted.

However, recent checks revealed that the digital currency is effectively unavailable. The original wallet portal, once accessible via www.enaira.gov.ng, now returns a “404 Website not found” error, pointing to an inactive application on Microsoft’s Azure platform.

According to FIJ, a search for the eNaira Speed Wallet app on both the Google Play Store and Apple App Store also showed that it has been taken down.

The disappearance of the wallet and app has raised fresh questions about the fate of the ambitious project, which was once hailed as one of the first government-backed digital currencies in the world.

At the start, the CBN promised to collaborate with private partners to ensure inclusivity, particularly for rural communities and the unbanked population. “The Central Bank of Nigeria (CBN) has committed to working with relevant partners to ensure a seamless process that benefits all users, particularly those in rural areas and the unbanked population,” it stated during the launch phase.

Today, however, with the official platforms offline and no formal communication on the project’s status, Nigeria’s digital currency experiment appears stalled—leaving citizens and observers to wonder whether the eNaira will be revived or quietly phased out.

I will be using 250 bags of Basmati rice for my Guinness World Record attempt at the largest pot of Jollof rice,” – Celebrity Chef Hilda Baci unveils her plans for her next Guinness World Record attempt.

September 2, 2025 (updated September 2, 2025) Published by

Celebrity chef Hilda Baci , the previous holder of the Guinness World Record for marathon cooking, with 93 hours and 11 minutes in May 2023, has revealed her plan for her next Guinness World Record attempt.

This time, partnering with the popular tomato paste brand Gino, she intends to break the Guinness World Record for the Largest Pot of Nigerian Jollof Rice, inviting Nigerians to witness her attempt.

Since August 22, 2025, she has been slowly unveiling details about the attempt, which involves cooking Jollof rice, the“heartbeat of West Africa”, in a pot with an estimated size of 6 meters by 6 meters.

Phyna is very ungrateful; your sister no even get N2M for account and you dey drive GLE” – Auchi SUG president allegedly says

September 2, 2025 (updated September 2, 2025) Published by

An alleged audio recording of Auchi SUG accusing Phyna of being ungrateful and uncaring towards her late sister have surfaced online.

In the audio recording, the man revealed that Phyna had supposedly neglected her sister after winning BBNaija.

He opined that despite Phyna’s wealth, her sister was still struggling in school trying to complete her diploma.

The Auchi SUG president slammed phyna for trying to collect one billion naira in damages for the injury her late sister sustained.

He said …

She’s a very very ungrateful person your sister you will be better than i did just dearly your sister will get two million to five million for accounts i’ve known Ruth since her ND when she was staying at sabo this girl was marketing class rep then if i want to post information they allow me to post for their group chat then i was surprised when i heard she came for HND as how when your sister just win big brother naija when your sister dey stY for Lekki dey m stay for mansion Your people, they stay for a Ikorodu family house. Then your sister get money. Like how? How? Even the baby daddy talk am say, na him they pay the girl tuition fee three, four years now. Now him they take care of the girl. Then she come get Dangote and she feed them. Then you they come. They demand one billion from Dangote. People, when they create awareness for the case, you sideline one of them. You went to meet Dangote yourself. I wish very dark man was part of this issue. This girl, therefore, don fly her commot, sis. But based on your corny lifestyle, right from time, like, oh no….”

Phyna is very ungrateful; your sister no even get N2M for account and you dey drive GLE” – Auchi SUG president allegedly says

Tinubu Reverses Appointments, Recalls NTA DG, ED

September 2, 2025 (updated September 2, 2025) Published by

President Bola Ahmed Tinubu has directed the recall of Mr Salihu Abdullahi Dembos, the Director-General of the Nigerian Television Authority (NTA).

This was made known in a statement on Tuesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.

ObasEmpire reports that Dembos briefly vacated the post following some management changes in the agency.

Dembos was appointed DG of the TV network by President Tinubu in October 2023. He will now return to complete his three-year tenure.

The President similarly directed the recall of Mr Ayo Adewuyi, the Executive Director of News, to complete his three-year tenure, which ends in 2027.

Adewuyi was appointed by President Tinubu in 2024.

The new directive effectively reversed the previously announced appointments of a director-general, executive director of news, executive director of marketing, and managing director of NTA Enterprises,” the statement read

Recall that in August, President Tinubu had approved the appointment of a new Director-General and two Executive Directors for the NTA.

The President also approved the appointment of a Managing Director, NTA Enterprises Limited.

According to a statement by the presidency, the fresh appointments were aimed at strengthening national broadcasting.

The previously appointed management of the NTA were as follows:

Rotimi Richard Pedro (Lagos, South-West) is appointed Director-General.

Karimah Bello (Katsina, North-West) becomes Executive Director, Marketing.

Stella Din (Plateau, North-Central) is the new Executive Director, News.

Sophia Issa Mohammed (Adamawa, North-East) assumes office as Managing Director, NTA Enterprises Limited.

The statement added that the appointments take immediate effect and reaffirm the President’s commitment to strengthening national broadcasting as a platform for unity, cohesion, and soft diplomacy.

I Hope You Have Learnt Your Lessons – Blessing CEO Taunts Phyna Over Sister’s Death

September 1, 2025 (updated September 1, 2025) Published by

Relationship and lifestyle coach Blessing Okoro, popularly known as Blessing CEO, has criticized reality star Phyna over her clash with activist VeryDarkMan (VDM).

ObasEmpire that in a video posted on Sunday, Blessing CEO said she sympathised with Phyna’s loss but faulted the way she handled her disagreement with VDM, insisting that it showed ingratitude despite his earlier support.

She argued that Phyna could have turned to other activists or platforms instead of attacking VDM and aligning with his rival, Izzy Ogbeide.

Blessing CEO also accused the Big Brother Naija winner of allowing her sister’s health crisis to become online content, stressing that activists are human and deserve appreciation.

She maintained that Phyna’s criticism of VDM while still expecting his assistance was contradictory and avoidable.

Phyna, I am sorry for the loss of your sister, but I need you to grab some lessons. Do not let your anger take the better part of you. Briddle your tongue, especially when you are in critical situations.. you will be careful because the devil is just looking for a small opportunity to nail you to the wall. This is not a case of you and VeryDarMan, this is a case of common gratitude. I am not a fan of VDM, but trust me, you see that thing that you did and that thing that you said, no matter how people want to applaud you, it is enough to work against you. And I am going to use this opportunity to beg you, if you feel like somebody is too controversial, leave them alone.

You could have used Harrison, Daddy Freeze or Brekete when you knew you didn’t want to use VDM. In a bid to spite VDM, you went to Izzy Ogbeide and you said a lot of things. Izzy used you as bait to fight VDM.

They turned your sister’s case into content creation. Activists are human beings too. When people are ungrateful, it kills your energy. Gratitude has a way of standing you tall. If someone has been kind to you before, even if the person offends you, just keep quiet.

You put out disgusting statements about VDM and still expected him to help you? Let us learn to be grateful,” Blessing CEO said

ObasEmpire reports that Ruth Otabor, Phyna’s younger sister, was hit by a Dangote truck in Auchi on August 13, 2025.

She suffered severe injuries, including an amputation, and was placed on life support before passing away on Sunday.

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