Author: Vardiafrica

Tony Elumelu, the Nigerian financier who built United Bank for Africa into one of the continent’s largest lenders, will retire as the group’s chairman on Aug. 21 after reaching the maximum tenure allowed for bank directors, the company said Monday. UBA named Emmanuel Nnorom, a non-executive director and longtime Elumelu associate, as the incoming group chairman, effective the same day. The bank said its board approved both the retirement and the appointment at a meeting on July 6. Elumelu’s exit follows the 12-year limit that the Central Bank of Nigeria sets for non-executive directors of banks under its corporate governance…

The Senate Committee on Customs and Excise on Monday approved a revenue target of N11.074 trillion and an expenditure proposal of N1.235 trillion for the Nigeria Customs Service (NCS) for the 2026 fiscal year. The panel expressed confidence that the agency would consolidate ongoing reforms and sustain its impressive revenue performance despite prevailing global economic uncertainties. The approval followed the defence of the agency’s 2026 budget proposal by the Comptroller-General of Customs, Mr.Bashir Adewale Adeniyi, before the committee at the National Assembly. Chairman of the Senate Committee on Customs and Excise, Senator Isah Jibrin, said the committee was impressed by…

The Federal Government is currently in a closed-door meeting with management of the Dangote Refinery and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), as it pushes for a fair reduction in the price of Premium Motor Spirit (PMS) or petrol nationwide. Our correspondent reported that the meeting being held at the headquarters of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in Abuja also has in attendance the Federal Competition and Consumer Protection Commission (FCCPC) and other oil and gas stakeholders. Representatives and chief executives from TotalEnergies, Eterna, Matrix Energy, Depot and Petroleum Products Retailers Association…

President Bola Tinubu has again defended reforms rolled out by his administration and insisted that they are yielding results. The former Lagos State governor spoke on Thursday during the maiden State House Media Dinner in Abuja. According to him, while the reforms were “difficult steps”, the results so far show that things have improved, with “investor confidence” in the country returning. “The difficult but necessary reforms undertaken by this administration are yielding results. Our economy is stabilising. Public revenues have strengthened significantly,” Tinubu told the gathering. “State governments are receiving substantially higher allocations to support development. Investor confidence is returning.…

Nigeria’s First Lady, Oluremi Tinubu, says she is committed to strengthening the hands of young girls in the country to shape a future that matches their dreams. She stated this while handing over 140,000 copies of seven different story books on girl child development published by Merck Foundation to the Federal Ministry of Education. The First Lady wrote the forward for the books, which were reproduced by her office. The First Lady said the books with different subject matters and offering life lessons would benefit both boys and girls by helping them develop confidence, empathy, healthy habits, and an appreciation…

The 271 Nigerian nationals evacuated from South Africa by the Nigerian government have arrived at the Murtala Muhammed International Airport in Lagos on Friday, as authorities continue the ongoing voluntary repatriation exercise. According to the Nigerians in Diaspora Commission (NiDCOM), the evacuees arrived aboard an Air Peace flight following a special charter operation approved and funded by the Nigerian government. NiDCOM said the evacuation reflected the government’s commitment to the welfare and protection of Nigerians living abroad. The returnees were received by officials of the Nigerian High Commission in South Africa as well as representatives of NiDCOM, the National Emergency…

The US has withdrawn most of the military personnel it deployed to Nigeria earlier this year for a joint counterterrorism operation in the Lake Chad Basin, but will continue intelligence sharing and broader security cooperation. The announcement was made on Thursday by the Commander of US Air Forces in Europe-Air Forces Africa Gen. Dagvin R.M. Anderson at a virtual briefing following the 2026 African Chiefs of Defense Conference. Anderson said the operation achieved its immediate objectives and that the majority of US troops assigned to the mission had departed Nigeria, emphasizing that they remain committed to supporting Nigeria’s fight against…

President Bola Tinubu has called on media organisations to exercise greater responsibility in reporting security issues, warning against giving publicity to terrorists and bandits through sensational coverage. The President made the appeal on Thursday while speaking at the maiden State House Press Corps Presidential Dinner held at the Presidential Villa, Abuja. Tinubu stressed that journalists have a critical role in supporting national security efforts by ensuring their reports do not inadvertently serve the interests of criminal groups. “The media must resist the temptation of becoming megaphones for terrorists and kidnappers,” the President said. He cautioned against reports capable of undermining…

The Inspector-General of Police, Tunji Disu, has directed police officers nationwide to arrest motorists driving without number plates or deliberately covering their vehicle registration numbers. According to the police chief, the directive is part of ongoing efforts to curb criminal activities and end impunity across the country. Speaking during a recent meeting with guests in his office, Disu said many criminals have exploited covered number plates to evade detection while carrying out unlawful activities. He noted that the practice has become increasingly common, with some individuals even treating it as a status symbol. “A lot of crimes have been committed…

Former Vice-President Atiku Abubakar has appointed Kenneth Okonkwo, Nollywood actor and politician, as his spokesperson for the 2027 presidential election campaign. A snapshot of the appointment letter, shared by Okonkwo on his X page on Thursday, said the appointment followed Atiku’s emergence as the presidential candidate of the African Democratic Congress (ADC) for the general election. “I am pleased to offer you an appointment as my Spokesperson for the 2027 General Elections in Nigeria, following my victory as the Presidential Candidate of the African Democratic Congress (ADC),” the letter reads. The letter said the appointment reflected Atiku’s confidence in Okonkwo’s “competence, public…