Tunde Bakare The Economic and Financial Crimes Commission, EFCC has arraigned the former Managing Director of Warri Refining and Petrochemical Company Ltd, Jimoh Olasunkanmi Yisawu before Justice Inyang Ekwo of the Federal High Court sitting in Abuja for alleged money laundering to the tune of N1.339 (One Billion, Three Hundred and Thirty-Nine Thousand Naira). He was arraigned on Monday, July 20, 2026 on an eight-count charge of alleged money laundering. Count one of the charges reads: “That you Jimoh Olasunkanmi Yisawu, the former Managing Director of Warri Refining and Petrochemical Company Ltd between October, 2023 and May, 2025 in Abuja within the jurisdiction of this Honourable Court indirectly converted the aggregate sum…
Author: Orientalnews Staff
Valentine Okafor Jumia Nigeria, the country’s leading e-commerce platform, has introduced a new instalment payment option on its marketplace through a partnership with Buy Now, Pay Later (BNPL) provider Klump, giving customers another way to pay for purchases without bearing the full cost upfront. The new option allows eligible customers to spread payments for selected purchases over a period of up to 12 months after making an initial deposit of between 20 and 30 percent. The partnership is expected to widen access to products such as smartphones, electronics, home appliances, and other everyday essentials for consumers who may prefer…
Yemisi Izuora Access Bank is set to host the maiden edition of its MSME Conference on Friday, July 24, 2026, at its Head Office in Victoria Island, Lagos. The conference, themed “AI for SMEs: Scaling Through Digital Tools,” will bring together entrepreneurs, business leaders, policymakers, and technology experts to explore how artificial intelligence can accelerate the growth and competitiveness of Nigeria’s micro, small, and medium enterprises (MSMEs). The event will feature keynote presentations, panel discussions, and interactive sessions led by representatives from the presidency on Entrepreneurship Development, Master Card, Huawei, World Trade Center Lagos, Dataleum, Aktivate Labs, and other…
Joyce Onwuka The 22nd edition of Akwaaba African Travel Market will bring African Sports and Tourism together at its 2nd African Tour Operators Summit in Lagos. Akwaaba will be held from the 13th to the 15th of September in Lagos, Nigeria. West Africa is the football powerhouse in Africa, always with the highest number of qualifiers for the African Football Fiesta AFCON. East Africa is Africa’s tourism paradise with Rwanda, Kenya, Tanzania and Uganda leading the charge. The 2027 AFCON would be hosted jointly by the 3 East African Countries of Tanzania, Uganda and Kenya and it is expected to be…
Francesca Odimgbe Lagos State Deputy Governor, Dr. Kadri Obafemi Hamzat, has reaffirmed the state’s commitment to strengthening economic and trade relations with the Republic of Turkey, describing the long-standing partnership between both sides as one that should be expanded to unlock greater investment opportunities and mutual prosperity. The Deputy Governor, who spoke while receiving the Ambassador of the Republic of Turkey, His Excellency Mr. Mehmet Poroy, and other officials of the Republic, held at the Office of the Deputy Governor, the Round House, Alausa, Ikeja, Lagos, highlighted Lagos’ strategic position as Nigeria’s commercial and financial hub. According to him,…
Yemisi Izuora emPLE Nigeria, in partnership with Ecobank Nigeria, has reinforced its commitment to financial inclusionthrough the Protecting Little Dreams Initiative, a Children’s Day campaign aimed at promoting financial literacy and insurance awareness among children, while encouraging parents to start securing their children’s financial futures from an early age. The initiative invited children and their parents to participate in a challenge by sharing short videos about the most meaningful thing their parents had ever done for them. Beyond celebrating the parent-child bond, the campaign encouraged meaningful conversations around financial responsibility, long-term planning and the importance of protecting the dreams of…
Yemisi Izuora The Board of Directors of Central Securities Clearing System (CSCS) Plc has approved an interim dividend of ₦1.00 per ordinary share for the six months ended 30 June 2026, marking the first interim dividend in the Company’s history. The decision reflects the Company’s record first half financial performance, strong cash generation, resilient balance sheet and the Board’s confidence in the sustainability of its earnings. The interim dividend also reflects the Company’s continued ability to reward shareholders while maintaining the financial capacity to invest in technology, innovation and future growth. The interim dividend of ₦1.00 per share represents…
Yemisi Izuora Key industry analysts have observed that the FCMB Group Plc has entered one of the most decisive phases in its corporate history, following a remarkable turnaround in its financial performance that has strengthened investor confidence and reinforced the group’s long-term growth prospects. This comes after the company’s successful recapitalisation, which preserved its international banking licence. The financial holding company delivered an exceptional performance in its audited results for the financial year ended December 31, 2025, posting a 141.72 percent surge in profit before tax to ₦160.3 billion from ₦66.3 billion in 2024. Profit after tax also climbed…
Yemisi Izuora The Sovereign Trust Insurance (STI) has advanced its knowledge sharing initiative to provide vehicle owners the opportunity to understand the benefits of acquiring the Third Party insurance. For many Nigerian motorists, purchasing Third-Party Motor only Insurance is simply a legal requirement. While it satisfies the minimum insurance obligation under the law, many drivers are unaware that a standard third-party policy does not provide compensation for damage to their own vehicle following an accident. As the cost of vehicle repairs continues to rise, motorists are increasingly seeking affordable insurance solutions that offer broader protection without the higher premium…
Yemisi Izuora DataPro, a credit rating Agency, says private placements have continued to take the front row in terms of companies raising more capital to expand their businesses outside public offering. According to the Agency’s new report, it has become an increasingly important feature of modern capital markets, allowing companies to raise funds from institutional and sophisticated investors outside the public markets. The issuers offer greater flexibility while enabling investors to participate in a company’s growth before it becomes widely accessible. The report notes that the increase in the offers in the market today have continued to raise important…