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Technology

Tinubu Hails Nigeria’s Exit from FATF Grey List

By Lizzy Chirkpi President Bola Tinubu has celebrated Nigeria’s removal from the Financial Action Task Force (FATF) grey list, describing the development as a major milestone in the country’s ongoing economic and institutional reform drive. The FATF, the global watchdog on money laundering, terrorist financing, and proliferation financing announced Nigeria’s delisting on Friday during its plenary session in Paris, France, officially lifting the country from the category of nations under increased monitoring. Reacting to the announcement, President Tinubu said the move is key to Nigeria’s progress in strengthening its anti-money laundering and counter-terrorism financing systems after more than two years of reforms and inter-agency collaboration. “In February 2023, Nigeria was placed on the FATF grey list. Rather than see it as a setback, we viewed it as a call to action. Today’s delisting demonstrates our resolve to build credible, transparent, and accountable institutions,” the President said. He attributed the success to coordinated efforts led by the Nigerian Financial Intelligence Unit (NFIU), working alongside key ministries and agencies, including the offices of the Attorney-General of the Federation, the Minister of Finance and Coordinating Minister of the Economy, and the Minister of Interior. Tinubu commended the Director and Chief Executive Officer of the NFIU, Ms. Hafsat Abubakar Bakari, and her team for their “dedication and professionalism,” which earned Nigeria global recognition for its strengthened financial oversight. He also acknowledged the roles played by the Secretary to the Government of the Federation, members of the Federal Executive Council, the National Assembly, the Judiciary, and private sector representatives on the National Task Force on AML/CFT. Institutions that contributed to the achievement include the Central Bank of Nigeria, Corporate Affairs Commission, Economic and Financial Crimes Commission, Independent Corrupt Practices Commission, National Drug Law Enforcement Agency, Department of State Services, Nigeria Customs Service, Nigeria Police Force, and the Securities and Exchange Commission. The President further appreciated the technical support of international partners, including the governments of France, Germany, the United Kingdom, the United States, the United Nations, and the European Commission. He described Nigeria’s delisting as “not just a technical accomplishment, but a strategic victory for our economy and a renewed vote of confidence in our financial governance.” Tinubu assured that his administration would continue to strengthen the institutional reforms that made the feat possible, ensuring Nigeria’s financial system remains credible and globally trusted.

2 days ago

Technology

Nigeria’s Corporate Bonds Drop to Five-Year Low at N87.9bn – Report

Daniel Adaji ‎Nigeria’s corporate bond market has fallen to its lowest level in five years, with total issuances declining sharply to ₦87.9 billion in the first half of 2025. ‎This is according to a recent PricewaterhouseCoopers (PwC)’s Nigerian Capital Market Update accessed by Pointblanknews.com on Friday. ‎The report attributes the plunge to soaring borrowing costs and high interest rates, which discouraged long-term debt issuance. ‎PwC noted that the corporate bond market witnessed only two issuances within the period, representing a 33.3 per cent drop compared to 2024, as firms increasingly opted for short-term financing instruments. ‎“This was largely driven by the steep rise in borrowing costs as issuers shield away from locking in high interest rates over the long-term,” PwC stated. ‎The firm linked the weak bond activity directly to the Central Bank of Nigeria’s monetary tightening policies, especially after the Monetary Policy Rate (MPR) climbed to an all-time high of 27.50 per cent in late 2024. However, with inflation easing to 22.22 per cent by June 2025, PwC projected that companies might soon “seize the opportunity to issue bonds, potentially leading to a surge in corporate bond activity.” ‎Nigeria’s corporate bond market forms part of the broader fixed-income segment, which includes Federal Government of Nigeria (FGN) bonds, Sukuk, savings bonds, and green bonds. Historically, corporate bonds have provided a stable funding channel for private companies seeking long-term capital for expansion, infrastructure, or debt refinancing. ‎Between 2020 and 2024, the market witnessed steady activity, with issuance values oscillating between N312 billion and N688 billion. However, 2025 marks a significant contraction, as the figure slumped to N87.9 billion, its weakest since 2020, when corporate debt issuance totalled N368 billion. ‎Meanwhile, the FGN bond market also experienced a slowdown, with total issuances declining 24.96 per cent to N4.6 trillion (July 2024–June 2025) from N6.25 trillion in the previous year. PwC attributed this to “high borrowing costs and a more cautious funding strategy amid challenging economic conditions.” ‎Despite the contraction in traditional corporate bonds, PwC observed a modest expansion in infrastructure debt instruments, as both government and private issuers sought alternative funding to bridge Nigeria’s vast infrastructure gap. “Between July 2024 and June 2025, at least N15.3 billion in infrastructure debt funds and bonds were raised in new and additional issues,” the report said. ‎The Federal Government also issued N300 billion in Sovereign Sukuk bonds to finance road projects and reintroduced green bonds after a six-year hiatus. In June 2025, N50 billion was issued under the Green Bond Series III, with another N250 billion scheduled for October 2025. ‎While long-term borrowing weakened, commercial paper issuances surged, reflecting corporates’ preference for shorter tenors amid tighter liquidity. The commercial paper market recorded ₦1.066 trillion raised across 75 issuances in the first half of 2025 — a 70 per cent increase in value despite an 11 per cent dip in volume. ‎The financial services sector dominated the market, accounting for 62% of total issuance value, followed by manufacturing (27%), agriculture (5%), and fast-moving consumer goods (3%). Access Bank Plc emerged as the top issuer, raising N400 billion, or 38% of total market value. ‎Corporate bonds in Nigeria are debt securities issued by private or public companies to raise funds from investors for medium to long-term projects. They offer investors fixed returns and are regulated by the Securities and Exchange Commission (SEC), while listings occur on platforms such as the Nigerian Exchange (NGX) and FMDQ Securities Exchange. ‎Historically, corporate bond issuance in Nigeria gained momentum in the early 2010s following the 2010 SEC rule amendments and the establishment of FMDQ in 2013, which enhanced transparency and secondary market trading. Bonds have since become an important financing tool for infrastructure, energy, and industrial expansion, complementing bank lending and equity markets.

2 days ago

Technology

Ichabod: Outrage as Bishop Kukah Accused of Turning His Back on Persecuted Christians

By Oscar Okhifo Outrage has trailed comments by the Catholic Bishop of Sokoto Diocese, Most Rev Dr. Matthew Hassan Kukah, urging the international community not to classify Nigeria as a country of particular concern over religious freedom violations. Many Nigerians say the cleric has abandoned the victims he once defended. Bishop Kukah is facing mounting criticism over what many Nigerians describe as a shocking departure from his long-held stance on religious persecution in the country. The controversy erupted after the outspoken cleric urged the international community not to re-designate Nigeria as a “Country of Particular Concern” (CPC) over alleged violations of religious freedom. Bishop Kukah argued that such a designation would harm interfaith dialogue and worsen Nigeria’s fragile peace. “We are not dealing with people going around wielding machetes to kill me because I am a Christian,” Kukah said. “I live and work in Sokoto, right in the womb of Islam, where collaboration between Christians and Muslims remains possible.” The statement has, however, drawn widespread outrage from sections of the Christian community, civil rights advocates, and ordinary Nigerians who accuse the bishop of turning his back on victims of religious violence he once passionately defended. “When a once very sane and respected Catholic bishop turns turncoat, he should expect a sea of backlash,” one aggrieved Catholic faithful said. Another critic, Mr. Paul, expressed disbelief over Kukah’s remarks. “The number of Catholic priests killed in Benue, in his home state of Kaduna, the number of seminarians attacked or abducted in the North in the last ten years ought to have guided the Bishop,” he said. A Christian who requested anonymity was even more scathing. “Who doesn’t know about the tragic persecutions of Christians in the North? Even those who kidnapped and killed Catholic priests in Edo came from a certain part of the country and practice a certain religion. Some seminarians are still in captivity in Edo North. “If the Nigerian government is playing politics with this, America should help us! The persecutions are too much,” he lamented. Another Catholic faithful described Kukah’s recent position as a “betrayal of the faith.” “The number of Christians slaughtered in cold blood in Plateau, Benue, Southern Kaduna, Borno, Sokoto, and other parts of Nigeria ought to make him circumspect. I have lost my respect for him,” the source said. Across social media, radio talk shows, and church gatherings, critics argue that Kukah’s new tone amounts to a betrayal of his earlier prophetic voice, one that for years, condemned the unchecked killings of Christians and clergy in northern Nigeria. They recall how the Bishop once lamented that “killing Christians is the only crime not punished in Nigeria”, and wonder why he now appears to defend the same government’s inaction. Some have gone further to accuse him of aligning with political interests while some are of the the opinion that “the glory of the Bishop has departed,” “He should just join the ruling party. He talks about interfaith dialogue, but how has that mitigated the violence against his brethren? They are always stooges of every government in power.” Another respondent added, “We urge him to formally join the ruling party since he now seems to defend their failures. He now sees nothing wrong with those who shield the killers and even aid and abet the killers of Christians in Nigeria.” While the Muslim Rights Concern (MURIC) praised Kukah’s statement as a balanced reflection of Nigeria’s complex reality, several Christian groups insist that his comments undermine ongoing efforts to secure international pressure on the government to address religious persecution. They maintain that killings of priests, burning of churches, and displacement of Christian communities in Benue, Plateau, and Southern Kaduna remain frequent realities. Analysts say Kukah’s evolving rhetoric underscores a deeper divide within Nigeria’s faith community. Between those who advocate diplomatic caution and those who insist that only global accountability can halt the bloodshed. Whether viewed as a peacemaker or a backslider, Bishop Kukah’s recent remarks have stirred one of the fiercest debates in recent memory, forcing many to ask: Has the revered cleric abandoned his moral compass or is he simply choosing a higher path of reconciliation? Whichever way, the Catholic Bishop of Sokoto Diocese has unnerved many Christians who believe there are indeed unchecked, organized killings of Christians and attacks on Christian formations and facilities across the country. Has his glory truly departed? The future will explain better.

2 days ago

Technology

Forgery: Anyanwu Signed Convention Notice to INEC- PDP BoT 

By Myke Agunwa The Board of Trustees (BoT) of the Peoples Democratic Party (PDP) has dismissed allegations by the party’s National Secretary, Senator Samuel Anyanwu, that his signature was forged on a letter sent to the Independent National Electoral Commission (INEC) concerning the upcoming 2025 Elective National Convention. In a statement signed by its Chairman, Senator Adolphus Wabara, the BoT called Anyanwu’s claim “baseless, misleading, and reprehensible,” emphasizing that the allegation conflicts with verifiable party records and procedures. It explained that the notification letter to INEC was properly signed by both the Acting National Chairman, Ambassador Umar Iliya Damagum, and Senator Anyanwu himself on August 25, 2025, during the 102nd meeting of the National Executive Committee (NEC), which included key party stakeholders. “It is on record that the said INEC notification letter was jointly signed by the National Chairman, Ambassador Umar Iliya Damagum, and Senator Samuel Anyanwu, the National Secretary, on the 25th of August, 2025, during the 102nd meeting of the NEC of the PDP. The signing occurred in the presence of important party organs and stakeholders, including members of the PDP Governors’ Forum, the Board of Trustees, and other NEC members who observed the process,” he said. The party elders additionally clarified that Senator Anyanwu was later inaugurated as the Secretary of the Contact and Mobilization Sub-Committee for the 2025 National Convention, where he co-signed several official communications, including appointment letters to committee members, alongside the Sub-Committee Chairman, Governor Douye Diri of Bayelsa State. Moreover, the statement stated that Anyanwu personally signed and transmitted a letter seeking financial approval for the sub-committee’s inaugural meeting, further validating the authenticity of his signatures on official documents. “These verifiable correspondences, bearing his signature, are in the custody of the Party and relevant Convention Committees,” the BoT stated. Wabara said the BoT perceives the forgery allegation as a deliberate attempt to discredit the PDP’s leadership and mislead party members and security agencies, describing it as “a regrettable distraction at a time the party is focused on uniting its ranks and delivering a credible convention.” “Such allegations can only be interpreted as a conscious effort to tarnish the integrity of the Party’s leadership and processes, and to mislead security agencies and the public,” he added. Reaffirming its confidence in the party’s unity and internal democracy, the BoT assured members that the 2025 Elective National Convention, scheduled for November 15–16, 2025, in Ibadan, would be “a credible and unifying exercise reflecting the PDP’s long-standing democratic tradition.” The BoT urged party members, stakeholders, and supporters to dismiss Senator Anyanwu’s claims and stay committed to the PDP leadership as it continues to position itself as Nigeria’s platform for democratic renewal. “The PDP remains cohesive, resolute, and unwavering in its commitment to democratic values, transparency, and internal,” the BoT reassured.

2 days ago

Technology

FG Flags Off Nationwide Vaccination Against Rabies

The Federal Government has intensified its drive to eradicate rabies in Nigeria with the flag-off of a Nationwide Rabies Vaccination Campaign led by the Minister of Livestock Development, Idi Maiha. ‎As part of the nationwide exercise, vaccination teams have been deployed to eight high-risk states — Bauchi, Cross River, FCT, Gombe, Kano, Lagos, Osun, and Plateau — to strengthen preventive measures and support the global goal of eliminating rabies by 2030. ‎The Chief Veterinary Officer of Nigeria (CVON), Dr. Samuel Anzaku on Thursday, led the Ministry’s delegation to Plateau State, one of the regions with the highest reported cases of rabies. The official flag-off event took place in Bassa Local Government Area, which currently records the state’s highest number of infections. ‎In his address, Anzaku reaffirmed the federal government’s determination to stamp out rabies across the country. He urged state governments, veterinary institutions, and communities to sustain collaborative efforts, stressing that rabies prevention requires collective action. ‎“The theme of this year’s commemoration, you, me, and community, reminds us that rabies elimination cannot be achieved by government efforts alone. It is a shared responsibility and collective investment in the health and safety of our communities,” the CVON stated. ‎He revealed that under the One Health framework, the Ministry has procured 26,000 doses of anti-rabies vaccines for deployment across the eight states. Plateau State received 3,000 doses, while an additional 1,200 doses were allocated to the University of Jos Veterinary Teaching Hospital to bolster vaccination and surveillance efforts. ‎The Plateau State Commissioner for Livestock Development, Dr. Sunday Akpa, and Bassa LGA Chairman, Dr. Joshua Sunday Riti, expressed gratitude to the Federal Government and pledged full cooperation to ensure the sustainability of the rabies control campaign. ‎Representing the Vice-Chancellor of the University of Jos, the Director of the Veterinary Teaching Hospital, Prof. Lami Hannatu Lombin, revealed that Bassa Local Government Area alone had recorded 25 cases of rabies in 2025, resulting in 12 confirmed deaths, including a family of three who recently died after dog bites. ‎She described the fatalities as “deeply tragic,” stressing the urgent need for intensified vaccination and public enlightenment to curb the spread of the disease. Prof. Lombin commended the Ministry for its timely intervention and assured that the vaccines would be judiciously administered to strengthen the state’s rabies prevention drive. ‎Among dignitaries at the event were the Special Adviser to the Governor on Livestock Matters, Dr. Markus Avory; the Executive Assistant to the Governor, Efficiency Unit, Hon. Gideon Agaldo; the Executive Director of the National Veterinary Research Institute (NVRI), Dr. Nicholas Nwankpa; the Chairman, Nigerian Medical Association (Plateau State), Dr. Kumtap Yilji Cashmir; and the Chairman, Nigerian Veterinary Medical Association (NVMA) Plateau State, Dr. Pam Luka. Traditional rulers and community leaders also pledged their support for the campaign. ‎The delegation later inspected one of the six cold room facilities donated by the Norwegian Refugee Council (NRC) for vaccine storage in Plateau State. ‎Rabies remains a major public health threat in Nigeria, with an estimated 55,000 deaths recorded annually worldwide, according to the World Health Organization (WHO). ‎In Nigeria, dog-mediated rabies accounts for more than 95 per cent of human cases, largely due to inadequate vaccination of domestic animals, poor awareness, and limited access to post-exposure treatment. ‎Studies by the Federal Ministry of Agriculture and Rural Development and the Nigeria Centre for Disease Control (NCDC) show that rabies is endemic in all 36 states, with higher prevalence in rural areas where dog vaccination coverage is low. The One Health approach, which integrates human, animal, and environmental health, is central to Nigeria’s rabies control strategy.

3 days ago

Technology

PDP Chairmanship: North West Leaders Reject Turaki as Consensus Candidate

Leaders of the Peoples Democratic Party (PDP) from the North West zone have rejected the reported adoption of former Minister of Special Duties, Kabiru Tanimu Turaki (SAN), as the consensus candidate for the position of National Chairman of the party. Pointblanknews.com had reported that northern PDP leaders on Thursday endorsed Turaki as the consensus candidate of the north for the party’s top position. The endorsement was announced by Adamawa State Governor Ahmadu Fintiri after consultations among northern stakeholders. However, the decision has since sparked internal resistance, particularly from the North West, which insists it was neither represented nor consulted in the process. Addressing journalists after a meeting in Abuja on Friday evening, the North West leaders said the purported adoption was done without consultation and therefore does not represent the collective decision of stakeholders from the zone. The leaders who spoke through the party’s National Organising Secretaray Umaru Bature, reported that a meeting was convened at the instance of the Governor of Zamfara State to deliberate and possibly adopt a candidate for the chairmanship position zoned to the North West. However, they lamented that despite their readiness to meet, the governor postponed the meeting and later went ahead to unilaterally adopt a candidate without consulting other leaders. “We want to make it clear that this zone has not adopted anybody as a candidate from the North West for the chairmanship of the PDP. There is a lot of resentment due to lack of consultation among the leaders of this zone. “We believe we are the strongest zone in the PDP, and the attitude of our leaders in this regard made us take this position that we disagree with the governor’s action. We are going to have our own candidate that we will nominate for that position,” Bature said. They further questioned the fairness of a so-called “open contest” when a candidate had already been handpicked, describing it as an attempt to undermine internal democracy within the party. “If it’s an open contest, they should have allowed others to come out and contest. They shouldn’t have just zoned it to one person. If the chairmanship has been zoned to the North West, why should the governor adopt a candidate without consulting others?” they queried. The leaders maintained that “consensus cannot be achieved without consultation” and emphasized that the North West has not met to endorse any aspirant. They insisted that all stakeholders, including state party chairmen, members of the National Assembly, and other prominent figures from the zone were excluded from the process. “We were all at the meeting where these positions were zoned to the North West. If Governor Fintiri could adopt his own in the North East, why can’t we, the stakeholders of the North West, be allowed to sit down and adopt our own candidate?” they asked. Present at the briefing were Mustapha Lamido the son of ex-governor of Jigawa State Sule Lamido, the 2023 Kaduna State gubernatorial candidate Isa Ashiru, the 2023 Katsina State gubernatorial candidate Garba Lado among othere party leaders. Meanwhile, it is believed that the disagreement reflects the widening rift between factions loyal to Minister of the Federal Capital Territory (FCT), Nyesom Wike, and those aligned with the PDP mainstream led by the acting National Chairman, Umar Damagum and backed by governor Seyi Makinde of Oyo State. The National Organising Secretary, is believed to be a key ally of Wike and part of the faction accused of working to frustrate the upcoming convention. The North West leaders allege that the hasty adoption of Turaki is part of the broader plot by the Wike bloc to control the party structure and derail reconciliation efforts ahead of 2027.

3 days ago

Technology

BREAKING: Again, Kanu Fails to Open Defence, Claims Ex-Counsel Still With His Case File

The detained self acclaimed leader of the proscribed separatist group, the Indigenous People of Biafra (IPOB), Nnamdi Kanu on Friday failed to open his defence in his ongoing terrorism trial before a Federal High Court in Abuja. Kanu blamed his inability to open his defence on the failure of his former counsel to hand him over his case file and enable him adequately prepare his defence. Kanu was slated to open his defence on Thursday. Instead, he dramatically announced the sacking of his legal team led by a former Attorney General of the Federation (AGF), Kanu Agabi, and, thereafter, prayed the court to grant him a short adjornment till Friday. When the case was called on Friday, the prosecuting lawyer, Adegboyega Awomolo (SAN), told the court that the case was scheduled for the defendant (Kanu) to open his defence. When it was Kanu’s turn to speak, he told the court that he would not be able to open his defence. He blamed the move on his inability to access his case file from the legal team he debriefed on Thursday. Kanu further told the court that those who were to bring the case file to him, where he is currently being held in the Department of State Services (DSS) facility, did not. He prayed the court for an adjournment till Monday, October 27, to enable him gain access to the case file and familiarise himself with the contents. Kanu told the court that he was expecting witnesses from all over the world, including the United Kingdom, the United States of America, Kenya and Ethiopia, and applied for an order that the DSS should allow him access to people even on Saturday and Sunday for the purpose of preparing his defence. Awomolo did not object, following which Justice James Omotosho ordered the DSS to allow Kanu receive visitors on Saturday and Sunday. The judge thereafter adjourned till October 27 for the defendant to open his defence, warning that the six days granted Kanu to conduct his defence, which began on October 23, will not be extended. Details shortly.

3 days ago