Roland Iwuchukwu Operatives of the Economic and Financial Crimes Commission, EFCC, on Monday, March 24, 2025 busted a Ponzi Scheme Academy and arrested 133 suspects in Abuja. They were arrested at the Compensation Layout in Gwagwalada area of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy. The Academy, named Q University (a.k.a Q-Net) is in the business of recruiting gullible young Nigerians who are trained to recruit more gullible citizens into the scheme with the promise of getting unrealistic profit returns. The suspects are enrolled into a training codenamed: “Special Training for New Generation Billionaire” and…
Author: Orientalnews Staff
Valentine Okafor The Impact Investors Foundation (IIF), has launched a comprehensive Nigeria Impact Investing Research and Industry Collaborative (NIIRIC) Stakeholder Mapping Report to identify critical gaps and collaboration opportunities in Nigeria’s research, innovation, and commercialisation landscape. This pivotal study, officially launched in Lagos provides an in-depth assessment of Nigeria’s research ecosystem, identifying key public and private stakeholders involved in research and innovation, as well as those who utilize research findings. Funded by the UK International Development of the UK Government in the third phase of the Research and Innovation Systems for Africa (RISA) Fund’s Sustainable Systems for Research and Innovation…
Yemisi Izuora The United Bank for Africa (UBA) Plc, successfully grew its profit by 26.14% year on year to N766.568 billion in 2024 from a total amount of N607.696 billion the group posted in financial year 2023. In its audited report released on the Nigerian Exchange, the pan African banking group performance was supported by significant improvement in revenue amidst high interest rate environment in its key markets. The Banks net interest income rose sharply to N1.530 trillion, up by 116% year on year from N707.540 billion in the financial year 2023. Net fees and commission income also increased…
Vincent Ezenagu The Governor of Oyo State, Seyi Makinde, has appointed Dr. Adesola Kazeem Adeduntan, the immediate past Managing Director/Chief Executive Officer of FirstBank Group, as the Chairman of the Governing Council of Abiola Ajimobi Technical University, Ibadan. The appointment, which takes immediate effect, was conveyed in an official letter signed by the Chief of Staff to the Governor, Otunba Segun Ogunwuyi. Dr. Adeduntan, a distinguished banker with extensive national and global experience, is expected to leverage his vast professional network to contribute to the development of the institution. His appointment which has been very well received, is seen…
Tunde Bakare Former head of State and founding father of the National Youth Service Corps (NYSC) General Yakubu Gowon GCFR, has commended the managers of the Scheme for sustaining the vision that informed the establishment of NYSC. He said the NYSC was greeted with strong opposition from Nigerian students across the country at inception, had not only overcome the initial misgivings but had grown to become a nationally recognised and accepted tool for fostering national unity, integration, development, job creation, and youth empowerment in Nigeria. General Gowon gave this commendation when the newly appointed Director General, Brigadier General Olakunle…
Valentine Okafor The World Meteorological Day on 23 March highlights the progress – and gaps – in life-saving forecasts and early warnings, which are vital for global economic and social well-being in an era of rapid change. This year marks the 75th birthday of the World Meteorological Organization (WMO) as a United Nations specialized agency, which has overseen the free and unrestricted exchange of data, products, and services underpinning decisions ranging from daily leisure activities to seasonal crop planting to multi-billion dollar infrastructure investments. “We are more than just weather forecasters,” said Celeste Saulo. “WMO makes the world safer,…
Moses Ofodeme Today is our moment of tribute in honour of Professor Humphrey Nwosu, the seventh Chairman of the national election management body in Nigeria who passed on five months ago in the month of October 2024. By coincidence, he was born in the month of October 1941. On behalf of the Independent National Electoral Commission (INEC), I would like to welcome you all, but most especially The Star, Lady Humphrey Nwosu and all members of the Nwosu family to this occasion. We are honoured to share with you this moment of grief as well as the celebration of Professor…
Agency Report U.S. and Russian officials began talks in Saudi Arabia on Monday aimed at making progress towards a broad ceasefire in Ukraine with Washington eyeing a separate Black Sea maritime ceasefire deal before securing a wider agreement. The talks, which followed U.S. negotiations with Ukraine in Saudi Arabia on Sunday, come as U.S. President Donald Trump intensifies his drive to end the three-year-old conflict after he last week spoke to both Ukrainian President Volodymyr Zelenskiy and Russian President Vladimir Putin. Here are some of the issues that Russia, the U.S. and Ukraine are discussing: ENDING ATTACKS ON ENERGY…
Agency Report The African Export-Import Bank (Afreximbank) stands as a cornerstone of Africa’s economic development, driving trade, industrialization, and financial integration across the continent. Established over three decades ago, this Pan-African multilateral financial institution has evolved into a vital force for economic transformation, supporting member states in their pursuit of self-reliance and prosperity. This article explores Afreximbank’s mission, its key initiatives, and its impact on Africa’s economic landscape as of March 24, 2025. A Mandate Rooted in Trade and Development Founded in 1993 and headquartered in Cairo, Egypt, Afreximbank was created with a clear mandate: to finance and promote…
Ken Okeke The 4th Steering Committee Meeting of the EU-ECOWAS Scholarship Programme on Sustainable Energy took place on March 20,2025, Virtually, bringing together representatives from ECOWAS, the European Union, and the British Council. The meeting aimed to review progress and milestones achieved so far in the program, discuss project duration and potential extensions, and reorganize the budget to ensure effective project implementation. This meeting demonstrates the commitment of ECOWAS, EU, and British Council to promote sustainable energy development in West Africa through capacity building and education. This EU-ECOWAS programme aims to improve access to high-quality training in the sustainable…