LIST OF REASONS

Media reports indicated that the imminent deactivation of USSD services in Nigeria within two weeks is due to a protracted financial dispute between telecommunications operators and deposit money banks (DMBs) which revolves around unpaid debts totaling an alarming N250 billion. This financial impasse has lingered for several years, despite regulatory interventions from the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC). The failure of most banks to comply with payment directives has now prompted telecom operators to issue a final warning, signaling the potential suspension of a service that is vital to millions of Nigerians. USSD, or Unstructured Supplementary Service Data, is a technology that allows bank customers to perform financial transactions without needing internet access. It uses shortcodes to enable users to transfer funds, pay bills, and purchase airtime directly from their phones. Initially designed to promote financial inclus...

Veritas University dons explained that conflicts in Nigeria are increasingly pushing women into poverty due to a combination of market disruptions, displacement, and economic hardship. The persistent sit-at-home orders in the South-East and the growing number of internally displaced persons (IDPs) in the country are making it difficult for women to access markets and sustain livelihoods, thereby exacerbating their economic vulnerability. Dr. Richard Gokum from Veritas University’s Department of Theology highlighted these concerns during a roundtable discussion on research sponsored by the Rosa Luxemburg Foundation West Africa. He stated that women disproportionately bear the burden of conflicts, especially in IDP camps where caregiving roles and economic responsibilities intersect. Women are tasked with caring for dependents in economically constrained environments while facing limited access to essential resources, education, and employment opportunities. According to Dr...

Spain explained that its proposal to impose a 100% tax on properties bought by non-EU residents is due to the urgent need to address the nation’s housing crisis. Prime Minister Pedro Sánchez emphasized that the measure is necessary to curb a growing divide between wealthy property investors and struggling local tenants. He explained that the influx of non-EU buyers acquiring properties for profit, rather than personal residence, is exacerbating the already severe shortage of affordable housing in Spain. The government views this situation as unsustainable in a context where available homes must be prioritized for residents rather than speculative investments. In 2023 alone, non-EU residents purchased approximately 27,000 properties in Spain. Many of these acquisitions were not intended for personal use but for generating income, particularly through short-term rentals. Sánchez pointed out that allowing such practices in a time of housing scarcity would be detrimental to ...

TikTok explained that they strongly denied reports suggesting that it may sell its US operations to Elon Musk because the claims are "pure fiction" and baseless. This declaration was made in response to a Bloomberg report indicating that Chinese authorities might permit the sale if the US Supreme Court upholds legislation requiring TikTok to divest or face a nationwide ban. TikTok’s firm denial underscores its longstanding position against any sale of its US business, asserting that speculation about potential buyers lacks any factual foundation. According to the Bloomberg article, unnamed sources suggested that a scenario under consideration involved Musk’s X platform taking over TikTok’s US assets. However, TikTok dismissed the report outright, with a company spokesperson emphasizing that it will not engage in commentary on what it described as unfounded speculation. Meanwhile, X, Musk’s social media platform, declined to comment when approached for a response...

David Weiss, the special prosecutor who oversaw the lengthy investigation into Hunter Biden stated that he firmly rejected President Joe Biden's criticism of his handling of the case because the president's accusations are unfounded. Weiss emphasized in his final report that his prosecution of the president's son was driven solely by legal considerations rather than political bias. He argued that his actions were impartial and rooted in the rule of law, directly addressing President Biden’s claim that the investigation was politically motivated and amounted to a miscarriage of justice. Weiss’s report followed the president’s decision to grant his son an unconditional pardon after Hunter Biden was convicted of gun and tax-related crimes. President Biden had previously labeled the case against his son as an instance of political targeting, stating that it represented raw partisan politics. In response, Weiss described the president’s remarks as "gratuitous...

Eddie Hearn, Anthony Joshua’s promoter, has explained that the “Gypsy King," Tyson Fury is unlikely to stay away from the ring for good because Fury’s previous retirements were short-lived, and his ongoing appeal and potential high-profile matchups make his current claim of retirement questionable. Hearn's doubt is rooted in Fury’s pattern of returning to boxing despite previous declarations, driven by the allure of big fights and his competitive spirit. Fury, who announced his decision to retire on Monday, just weeks after his second consecutive defeat to Oleksandr Usyk, shared his retirement message through a brief social media video. In his statement, he expressed gratitude for his career, saying he had loved every moment of it. However, this is not the first time Fury has declared his departure from the sport. His most recent retirement announcement in April 2022 followed his victory over Dillian Whyte, but he soon returned to the ring later that year. Hearn and other box...

The Lagos State House of Assembly has explained that the impeachment of Speaker Mudashiru Obasa was because of the need to uphold ethical governance and restore accountability within the legislative body. The lawmakers cited gross misconduct, abuse of office, and financial improprieties as the primary reasons behind their unanimous decision to remove him from office. The assembly stated it had endured Obasa’s leadership shortcomings for too long and was compelled to act in the interest of integrity and proper legislative management. The impeachment session, held on Monday, was presided over by Deputy Speaker Mojisola Meranda, who has since been appointed as the new speaker. During the session, Femi Saheed, representing Kosofe Constituency, moved the motion for Obasa’s removal, accusing him of multiple violations, including highhandedness, poor leadership, and disregard for fellow lawmakers. He emphasized that Obasa’s authoritarian style and lack of transparency in managing the assembly...

The National Assembly stated that the Joint Admissions and Matriculation Board (JAMB) might not receive budgetary allocation in 2025 because of their reckless spending and questionable remittances to the Federal Government. Lawmakers assert that JAMB’s current financial practices do not justify continued government funding, particularly since it generates significant revenue independently. During a budget defence session on Monday, Prof. Ishaq Oloyede, JAMB's Registrar and Chief Executive Officer, faced intense scrutiny over the agency’s 2024 budget performance. He described JAMB as a self-funded institution with operational independence, though he acknowledged receiving a N6 billion grant from the Federal Government while remitting only N4 billion to the Consolidated Revenue Fund. This discrepancy sparked sharp criticism from members of the National Assembly Joint Committee on Finance. Abiodun Faleke, Chairman of the House Committee on Finance, questioned why JAMB should remit N4...

Public corporations are established to address critical needs that private markets often neglect. These needs include providing essential services, preventing monopolistic exploitation, generating employment, safeguarding national security, correcting market failures, promoting social equity, generating revenue, and implementing government policies. While challenges exist in managing these entities effectively, their foundational purpose lies in serving the public interest and fostering economic development that is inclusive, equitable, and sustainable.  In order words, public corporations are established for numerous interconnected reasons but it is primarily to serve the public good in ways that private enterprises may not prioritize due to profit-driven motives. Governments recognize that certain sectors of the economy require intervention to ensure equitable access to essential goods and services, economic stability, and social welfare. The creation of public corporations allow...

Dr. Muda Yusuf, Director of the Centre for the Promotion of Private Enterprise (CPPE) stated that the disparity in growth between Nigeria’s financial services sector and the broader economy in 2024 was because of the detachment of financial markets from the real economy. He explains that the financial sector's robust 32 percent growth, compared to the sluggish performance of agriculture and manufacturing, highlights a troubling misalignment. This gap stems from a failure in the financial sector's intermediation role, which traditionally channels funds into productive sectors that drive employment and inclusive growth. Instead, investing in financial instruments has become more attractive due to lower risks and higher profitability, thereby sidelining sectors crucial for job creation and poverty reduction. Yusuf’s analysis, presented in his report Nigeria 2024 Economic Review and 2025 Outlook, underscores that while Nigeria’s overall Gross Domestic Product (GDP) displayed resil...

Carlo Ancelotti stated that the Real Madrid’s heavy loss to Barcelona in the Spanish Super Cup match on Sunday was due to poor defensive performance and a failure to execute a cohesive strategy both individually and collectively. Despite starting strong with an early goal by Kylian Mbappe, Madrid’s defense crumbled as Barcelona seized control, ultimately securing a 5-2 victory. Ancelotti lamented his team’s inability to maintain their lead and acknowledged their defensive lapses as the primary reason for the defeat. The match began promisingly for Real Madrid when Mbappe’s brilliant finish put them ahead. However, Barcelona’s response was swift and relentless. Lamine Yamal equalized for the Catalans, followed by goals from Robert Lewandowski, Alejandro Balde, and two strikes from Raphinha that left Madrid trailing 5-1. A red card for Barcelona gave Madrid a numerical advantage, but they managed only a consolation goal through Rodrygo. Reflecting on the performance, Ancelotti was candi...

Eric Chelle, the newly appointed coach of Nigeria’s Super Eagles, explained that he could not refuse the offer from the Nigeria Football Federation (NFF) because leading the national team is a once-in-a-lifetime opportunity. He described the role as one of the most prestigious positions in African football and a significant milestone in his coaching career. Chelle expressed deep gratitude for the chance to lead a team renowned for its rich football history and immense talent. Chelle, a former Ligue 1 defender and coach of Mali’s national team, officially accepted the role last week following the resignation of former coach Finidi George. Speaking after his final match with MC Oran in Algeria, where his team secured a 1-0 victory over USM Setif in the Algerian Cup, Chelle made it clear that his decision to leave Algeria was driven by the extraordinary opportunity presented by the NFF. “This is my last meeting with you, and it marks the end of my adventure here,” he told reporters. “From...

A school of thought in Israel contends that Prime Minister Benjamin Netanyahu has prolonged the war in Gaza and resisted a ceasefire deal primarily due to concerns about the stability of his government. The fear is that agreeing to a truce or a comprehensive peace deal could lead to political fallout and the collapse of his coalition, particularly due to opposition from far-right elements within his administration. This internal political calculus has significantly influenced Netanyahu’s approach to the ongoing conflict, despite international calls for an immediate ceasefire and humanitarian relief. United States President Joe Biden has been at the forefront of efforts to secure a ceasefire in Gaza, emphasizing the urgent need for a truce and the return of Israeli hostages held by Hamas. His administration, along with Egypt and Qatar, has been mediating negotiations for more than a year, with talks intensifying recently in Doha. High-level officials, including Israel’s Mossad chief Dav...

Authorities stated that they placed the entire Los Angeles County under fire threat due to the forecast of strong winds that could exacerbate the ongoing wildfires, already among the deadliest and most destructive in the state’s history. The Santa Ana winds, infamous for their dry and gusty nature, are expected to intensify, potentially reaching speeds of up to 60 mph. Fire officials warned that these conditions create a perfect storm for extreme fire behavior, making it critical to maintain heightened vigilance and proactive evacuation strategies. The Palisades fire, the largest among the blazes, has already consumed more than 23,000 acres and is only 13% contained, while the Eaton fire has burned through over 14,000 acres with a containment of 27%. A smaller but nearly controlled fire, the Hurst fire, covers 799 acres. Despite progress in containment, the anticipated wind event from Sunday night through Wednesday has prompted the National Weather Service to issue a rare "partic...