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- Hot News , Local News
- October 10, 2025
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BREAKING: Bandits Kidnap Couple In Kwara Community, Woman Rescued By Nigerian Army
The brazen attack, which occurred between 1 a.m. and 2 a.m., underscores the ongoing security challenges facing rural communities in the region. ArticlesRead More
- Biz & Economy
- October 10, 2025
- 32 views
Emefiele: Court admits WhatsApp chats as evidence in $4.5 billion fraud trial
An Ikeja Special Offences Court has admitted into evidence a WhatsApp conversation presented by the Economic and Financial Crimes Commission (EFCC), which allegedly implicates former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, in a $4.5 billion fraud and abuse of office case. Justice Rahman Oshodi overruled objections raised by the defence and accepted […] The post Emefiele: Court admits WhatsApp chats as evidence in $4.5 billion fraud trial appeared first on Nairametrics.
- Biz & Economy
- October 10, 2025
- 30 views
ASUU dismisses FG’s last-minute plea, strike to start October 13
The Academic Staff Union of Universities (ASUU) has rejected the Federal Government’s last-minute appeal to halt its planned warning strike scheduled to begin on October 13, describing the intervention as a little too late. The post ASUU dismisses FG’s last-minute plea, strike to start October 13 appeared first on Nairametrics.
- Uncategorized
- October 10, 2025
- 6 views
2027: INEC not the problem – Aisha Yesufu tells Nigerians what to do
Socio-political activist, Aisha Yesufu has called on Nigerians to unite against forces that may be plotting to rig the 2027 general elections. In a statement posted on her official X handle, the activist argued that the Independent National Electoral Commission INEC, cannot rig any election without the populace. According to her, “no rigging can happen
2027: INEC not the problem – Aisha Yesufu tells Nigerians what to do
Socio-political activist, Aisha Yesufu has called on Nigerians to unite against forces that may be plotting to rig the 2027 general elections.
In a statement posted on her official X handle, the activist argued that the Independent National Electoral Commission INEC, cannot rig any election without the populace.
According to her, “no rigging can happen without our support”, stressing that it is Nigerians, who have “refused to engage, waiting for God to do it all”.
She said, “INEC is not the problem. The people in INEC are the problem and they are among the 220 million people. There is no INEC Chairman that can rig election if the people working in INEC do not collude.
“These people are our brothers, sisters, husbands, wives, children, cousins, neighbors, church members, fellow mosque worshippers, work colleagues etc. Let us begin to warn each other to not rig or allow rigging”.
Aisha also noted that the judiciary, police and military are not the problem of Nigeria but the bad eggs operating in them.
“The same for the judiciary, police, military etc. The judiciary is not the problem, the people in the judiciary are the problem.
“The police are not the problem, the people in the police are the problem.
“The military is not the problem, the people in the military are the problem.
“I will end by telling you that unless you vote and defend your vote and ensure it is counted for your candidate, what you did is not voting but paper painting”, she added.
2027: INEC not the problem – Aisha Yesufu tells Nigerians what to do
- Biz & Economy
- October 10, 2025
- 32 views
Road crashes in Nigeria rise 9.4% in Q2 2025, male deaths dominate – NBS
Road accidents in the second quarter of this year (Q2, 2025) claimed 1,018 males while 6,629 males got injured. The post Road crashes in Nigeria rise 9.4% in Q2 2025, male deaths dominate – NBS appeared first on Nairametrics.
- Hot News
- October 10, 2025
- 28 views
‘Remote Gaming Licence Could Wipe Out 200,000 Jobs’
‘Remote Gaming Licence Could Wipe Out 200,000 Jobs’
Sunday Ehigiator
Stakeholders in Nigeria’s thriving gaming industry have raised objections to the proposed Central Gaming Bill currently before the Senate, warning that its passage could wipe out over 200,000 jobs, cripple indigenous operators, and hand control of the country’s gaming economy to foreign interests.
The bill, which had earlier passed the House of Representatives, seeks to centralise gaming regulation under the federal government and introduce a Remote Gaming Licence that would allow offshore companies to offer online gaming services nationwide.
In a statement signed by the Media Relations Officer, Gaming, Adetola Ladejobi, industry experts, state regulators, and economic analysts condemned the move as unconstitutional and economically disastrous.
They insisted that the bill, if passed, would not only violate the Supreme Court’s November 2024 judgment affirming that gaming regulation lies within the jurisdiction of state governments, but also devastate one of Nigeria’s fastest-growing non-oil sectors.
“Over the past decade, indigenous gaming brands such as Bet9ja, Baba Ijebu, BetKing, Winners Golden Chance, and others have built a robust industry that employs thousands of Nigerians directly and indirectly across all 36 states. The sector supports agents, cashiers, software developers, marketers, customer service providers, and small business owners; all contributing to local economies and paying state taxes.
“According to industry data, the ecosystem sustains more than 200,000 jobs and contributes billions of naira in taxes and levies to state governments annually.”
Stakeholders warn that these livelihoods would be threatened if foreign operators are granted nationwide access through the proposed Remote Gaming Licence, as they would operate virtually without physical presence, employ no local staff, and pay no taxes within Nigeria.
“This is not an investment; it’s pure economic extraction. Foreign companies will take money from Nigerian players online and repatriate the profits abroad, leaving our local operators, workers, and state governments with nothing.”
They also argued that the proposal contradicts the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritises job creation and investment in productive sectors.
They said the bill would do the opposite, by discouraging local enterprise, draining state revenue, and creating dependency on foreign operators with no stake in Nigeria’s economy.
They pointed out that “in other federations like the United States, Canada, and Switzerland, gaming regulation remains decentralised, allowing sub-national governments to maintain sovereignty over the sector. Switzerland’s Gespa (Inter-Cantonal Gaming Authority), for example, coordinates cooperation among regional governments while respecting their autonomy, a model already mirrored by Nigeria’s Federation of State Gaming Regulators of Nigeria (FSGRN).
“The claim that federal control will modernise the gaming sector is both misleading and unnecessary. States already have the technological capacity to regulate online gaming through IP tracking and geolocation systems. There is no regulatory vacuum to fill; only constitutional boundaries to respect.”
If the Central Gaming Bill becomes law, experts warned, “Nigeria could lose one of the few private industries that have thrived without government subsidies. The ripple effect would include widespread job losses, reduced taxable income, and a steep decline in state-generated revenue.”
They urged the Senate to tread cautiously and reject the Bill, emphasising that modernisation should not come at the expense of sovereignty and livelihoods.
“What Nigeria needs is cooperative federalism, not centralisation. The Senate must protect our jobs, our constitution, and our economy. The gaming sector should remain under state control to keep investment and opportunity within our borders.”
Sunday Ehigiator Stakeholders in Nigeria’s thriving gaming industry have raised objections to the proposed Central Gaming Bill currently before the Senate, warning that its passage could wipe out over 200,000
- Biz & Economy
- October 10, 2025
- 33 views
TAJBank’s Sukuk bond oversubscribes by 185%, gets N57 billion from investors
TAJBank Limited has announced that its latest N20 billion Mudarabah Sukuk bond offer was oversubscribed by 185.15%, drawing in N57.03 billion from investors. The post TAJBank’s Sukuk bond oversubscribes by 185%, gets N57 billion from investors appeared first on Nairametrics.
- Hot News
- October 10, 2025
- 37 views
VFD Group Launches N50.67bn Rights Issue to Strengthen Capital
VFD Group Launches N50.67bn Rights Issue to Strengthen Capital
Oluchi Chibuzor
VFD Group Plc has officially launched its N50.67 billion rights issue, marking a major milestone in its strategic growth plan to strengthen its capital base, expand internationally, and deepen investments across key economic sectors.
The formal signing ceremony, held in Lagos, brought together the company’s board, shareholders, and financial advisors to commemorate what executives described as a defining moment in VFD’s growth journey.
Speaking at the event, the Chairman of VFD Group Plc, Olatunde Busari noted that the rights issue—comprising 5,067,396,400 ordinary shares of 50 kobo each offered at N10 per share on the basis of two new shares for every three existing shares—represents more than a financial transaction.
He explained that proceeds from the offer, estimated at N49.55 billion net of costs, will be deployed to strengthen the company’s balance sheet, fund its geographical expansion into the United Kingdom and Southern Africa, and boost investments in key subsidiaries.
According to him, “Today marks a significant milestone in the journey of VFD Group Plc. We are gathered here to formally sign and commemorate the launch of our N50.67 billion Rights Issue, a pivotal step in strengthening our capital base and advancing our strategic growth agenda. At our 8th annual general meeting(AGM), shareholders approved a capital raise of up to N30 billion, of which N12.5 billion had been successfully raised. Building on that momentum, at our 9th AGM held on May 8, 2025, shareholders, once again, demonstrated their confidence in our vision by authorising the Board to raise additional capital of up to N50 billion through various instruments.
He noted that the capital raise reflects their continued commitment to building a stronger, more resilient, and diversified investment group.
These, he said, would enhance liquidity, improve leverage ratios, and position VFD Group to capture emerging opportunities across multiple sectors and regions.
“I wish to express my profound appreciation to our shareholders for their unwavering trust, to our advisers for their professionalism and dedication, and to our regulators for their steadfast guidance and partnership throughout this process. As we sign these documents today, we are not merely executing a transaction, we are reinforcing our collective belief in VFD’s future. This rights issue marks the beginning of a new phase of growth, innovation, and value creation for our stakeholders. Together, we will continue to build a pan-African investment group that stands for excellence, integrity, and sustainable prosperity,” he said.
Also speaking, the Group Managing Director, Nonso Okpala, emphasised VFD’s strategic focus on four core sectors — market infrastructure, capital markets, financial services, and real estate/hospitality.
He highlighted the firm’s investments in key Nigerian exchanges, asset management, digital banking, and fintech ventures such as Slitter and Bond, which he described as “leading innovation drives within the economy.”
“In the next 18 months, we have a strong prospect of achieving unicorn status in our fintech portfolio. Our objective is to deepen our current investments in Nigeria while replicating success stories across Africa and other geographies,” he said.
He added that the company’s expansion strategy comes amid economic reforms under the current administration, which, despite public debate, have opened new opportunities for discerning investors.
The equity raise, he said, will enhance VFD’s liquidity, improve leverage ratios, and enable the company to unlock hidden value in existing investments.
According to him, “As we replace debt with equity, we are positioning VFD to lead in innovation, cross-sector collaboration, and data-driven value creation,” he said. “We are not just raising funds; we are building an institution that will play a strategic role in the future of Nigeria and Africa’s economic development.”
The event drew the participation of financial advisors, directors, and institutional investors who reaffirmed their confidence in the group’s long-term vision. The rights issue, now open to shareholders, is expected to consolidate VFD Group’s position as one of Africa’s most dynamic investment holding companies.
Oluchi Chibuzor VFD Group Plc has officially launched its N50.67 billion rights issue, marking a major milestone in its strategic growth plan to strengthen its capital base, expand internationally, and
- Biz & Economy
- October 10, 2025
- 33 views
Nigerian Fintech Powerhouse, Moniepoint set to launch second edition of Nigeria’s Informal Economy Report in Abuja
A new study by Moniepoint Microfinance Bank, a proudly Nigerian-founded and led financial institution, has revealed that 42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country. The post Nigerian Fintech Powerhouse, Moniepoint set to launch second edition of Nigeria’s Informal Economy Report in Abuja appeared first on Nairametrics.
- Football
- October 10, 2025
- 30 views
2026 WCQ: We’ll Not Do South Africa Any Favours –Zimnabwe Head Coach, Nees
Warriors of Zimbabwe head coach Michael Nees has said Bafana Bafana must earn the 2026 World Cup qualification ticket because his players will not do them any favours. Already eliminated Zimbabwe will face Bafana Bafana in their penultimate Group C fixture today (Friday) in South Africa. Bafana Bafana, who were earlier cruising in the group, […] The post 2026 WCQ: We’ll Not Do South Africa Any Favours –Zimnabwe Head Coach, Nees appeared first on Complete Sports.
