Author: Vardiafrica

US President Donald Trump has imposed a 100 percent tariff on foreign movies. In a statement issued early Monday morning, Trump claimed that Hollywood is rapidly declining, with filmmakers getting enticed by incentives in other countries. The president labelled the said downturn a national security threat. He said his decision would “save” the US movie industry “The movie industry in America is dying a very fast death. Hollywood, and many other areas within the U.S.A., are being devastated,” he said. “This is a concerted effort by other nations, and therefore, a national security threat. It is, in addition to everything else, messaging…

President Bola Tinubu will meet with the leadership of electricity-generating companies over the N4 trillion power sector debt. A statement by the Special Adviser, Strategic Communications and Media Relations to the Minister of Power, Adebayo Adelabu, Bolaji Tunji, on Sunday, said the Federal Government vowed to urgently address the debt following high-stakes talks between Adelabu and chairmen of Generating GenCos in Abuja on Tuesday. He said FG’s intervention is aimed at averting an imminent collapse of the power infrastructure in the country. According to the statement, the minister assured GenCos executives that the government would prioritise immediate payment of a…

The Nigeria Education Loan Fund (NELFUND) insists no money is missing from the student loan scheme despite claims to the contrary. A recent report had alleged that some schools were diverting money meant for the scheme operated by NELFUND. That prompted the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to launch an investigation into the matter. However, NELFUND’s Managing Director and Chief Executive Officer (CEO), Akintunde Sawyerr, said the fund has a clean bill of health. “We are all looking for this so-called money. First of all, let me be very clear. No money has been stolen. The…

Gabon began swearing in on Saturday President-elect Brice Oligui Nguema, who led a coup ending decades of Bongo family rule and swept polls last month with nearly 95 percent of the vote. The general and former junta leader, who toppled Ali Bongo in August 2023 ending 55 years of dynastic rule by the Bongo family, officially takes the presidential reins after leading a 19-month transition government. Some 20 African heads of state arrived for the inauguration ceremony at a stadium north of the capital Libreville, while supporters decked out in T-shirts and flags bearing Oligui’s likeness packed out the 40,000-capacity…

No fewer than 14 officials of the Nigerian National Petroleum Company Limited (NNPCL), including two former chief executives, Mele Kyari and Abubakar Yar’Adua, are currently under investigation by the Economic and Financial Crimes Commission (EFCC) over alleged misappropriation of funds and abuse of office, a letter addressed to the NNPCL has shown. The investigation centers around the $2.896 billion allocated for refinery rehabilitation projects under their tenure, Port Harcourt Refinery: $1.56 billion, Kaduna Refinery $740.6 million and Warri Refinery $656.9 million. Some of the key findings include discovery of a large sum of money in the accounts of one of…

US President Donald Trump posted a seemingly artificially enhanced photo of himself depicted as the pope on Truth Social Friday night, days after jokingly saying he would ‘like to be Pope’. The White House also reposted the image. Pope Francis d!ed last month. The 88-year-old suffered a stroke and heart failure, Vatican doctor Andrea Arcangeli said in a death certificate released last week. President Trump was among several world leaders at the pope’s funeral. After Trump posted the AI-generated image of himself dressed in papal attire, several social media users accused him of mocking Francis’ death. “This is disrespectful to the church…

Sterling Bank, Leading commercial bank and Africa’s most agile company has announced the introduction of AlwaysOn by Sterling, a bold new feature on its OneBank platform that will give eligible customers up to ₦1 million extra every month -even when their account balances are running low. Launched on Workers’ Day 2025, the initiative is part of an ongoing movement to remove structural barriers to financial freedom and empower everyday Nigerians to move boldly, even in uncertain times. AlwaysOn is a specialised, invitation-only feature for customers who maintain an active OneBank account for a while. It provides an advance to settle…

Nigeria’s Vice President, Kashim Shettima, has arrived in Libreville, the capital of Gabon, to represent President Bola Tinubu at the Inauguration of Gabon’s President-elect, Brice Clotaire Oligui Nguema. The Vice President, who touched down at the Leon MBA international airport at 09:47 GMT, was received by the Prime Minister of Gabon, Raymond Ndong Sima. VP Shettima is in the Central African country accompanied by Special Adviser, General Duties to the President, Aliyu Modibo and some personal aides. Nguema, who had served as Gabon’s interim leader since August 2023, secured a decisive victory in the country’s April 12 Presidential election

Meta, the parent company of Facebook and Instagram, has warned it could shut down its services in Nigeria if ongoing disputes with regulatory bodies remain unresolved. The tech giant is facing close to $300 million in fines and says Nigeria’s data protection demands are excessive and unrealistic. At least three government agencies have penalised Meta this year. The federal competition watchdog imposed a $220 million fine, the Advertising Regulatory Council of Nigeria (ARCON) issued a penalty of ₦60 billion (about $37.5 million), and the Nigerian Data Protection Commission (NDPC) added another $32.8 million. Altogether, Meta is now facing fines totalling approximately $290.3…

The suspended governor of Rivers State, Siminalayi Fubara, has returned to the state after spending approximately two weeks on vacation overseas. The governor touched down at the international wing of the Port Harcourt International Airport, Omagwa, at about 7PM on Friday. In March, President Bola Tinubu suspended Governor Fubara, his deputy Prof. Ngozi Odu, and members of the State House of Assembly following his declaration of a state of emergency in the state. The President justified the decision by pointing to attacks on oil pipelines carried out by militant groups amid the escalating conflict between the Governor and 27 lawmakers.…