Author: CSNews

BOI’s N250bn Bond Sells Out in Five Days, Bank Credits Tinubu’s Backing

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The Bank of Industry has credited President Bola Ahmed Tinubu’s support after its N250 billion Series 1 Fixed Rate Bond was oversubscribed within five working days, issued through BOI Financing SPV Plc under the bank’s one-billion-dollar Multi Currency Instruments Programme. BOI Chief Executive Officer Olasupo Olusi said the strong response reflects investor confidence not just in the bank but in Nigeria’s domestic capital market’s ability to mobilise long term capital for productive investment. He credited President Tinubu’s executive approval of investor incentives as central to attracting demand within such a short window. Olusi said the goal of the transaction is to convert investor confidence into increased financing for Nigerian businesses, supporting job creation and a healthier economy. He added that a separate N100 billion fund approved by the President for BOI would help cushion the bond’s pricing and ease the burden of high interest rates on manufacturers and other bank customers. The bank said the transaction broadens its funding base, adding deeper domestic capital mobilisation to its existing track record in international capital markets, though final subscription and allotment figures remain undisclosed pending Securities and Exchange Commission approval. Proceeds from the issuance will strengthen BOI’s capacity to provide long term financing across priority sectors, supporting local value addition, employment and economic diversification, with the bank describing the milestone as further proof of Nigeria’s growing capacity to fund development at scale. By Asiwaju Adekunle Saheed

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Hajj Business Boom: NAHCON Chief Says Saudi Reforms Open Doors for Nigerian Operators

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The Chairman of the National Hajj Commission of Nigeria, Ambassador Ismail Abba Yusuf, has said ongoing reforms in Saudi Arabia’s Hajj and Umrah sector will open significant business opportunities for Nigerian private tour operators, speaking at the 2026 Annual Hajj Lecture organised by Independent Hajj Reporters in Abuja. Yusuf described the Hajj and Umrah industry as undergoing one of its biggest structural transformations in a generation, with fresh opportunities emerging across travel, healthcare, hospitality, finance and technology. He said NAHCON has been engaging the Saudi Ministry of Hajj and Umrah through diplomatic channels to ensure new policies align with Nigeria’s cultural realities and administrative structures. The chairman commended Independent Hajj Reporters for creating a platform where stakeholders can deliberate on the future of the pilgrimage industry, stressing that collaboration and professionalism will be key to navigating the changing landscape. At the event, the Pilgrims Welfare Boards of Borno, Jigawa, FCT, Adamawa, Ondo and Bauchi states received awards for outstanding performance during the 2026 Hajj operation. Independent Hajj Reporters also honoured the governors of Plateau, Bauchi, Jigawa, Kano and Kebbi states for their contributions to the season’s pilgrimage exercise. By Asiwaju Adekunle Saheed

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New Season, New Faces: Premier League Returns With Six Clubs Under Fresh Management

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England’s Premier League kicks off tonight, barely five weeks after the World Cup final in New Jersey, opening a season reshaped by a wave of managerial and squad changes across the division’s biggest clubs. Manchester City begin life without several key figures from the Pep Guardiola era, while Newcastle United enter under new management following a preseason exit at the top, having also lost key midfield pieces to rivals. Chelsea have brought in a coach with a big five European title on his résumé, pairing him with a mix of proven Premier League talent and rising names. Nine clubs start the season with new managers in charge, adding an unusual level of unpredictability to the title picture, while newly promoted sides have gone into the transfer market aggressively in hopes of avoiding relegation. Spending has leaned heavily toward the domestic market this year, with clubs increasingly recruiting proven performers from within the league rather than gambling on unproven talent from abroad, a trend expected to push cumulative spending on English based players past a billion pounds by the close of the window. The departures of several marquee names in recent seasons have thinned the league’s pool of globally recognised stars, even as a handful of proven performers remain to anchor the division’s biggest clubs. With managerial reputations still being written and star power in flux, this season is shaping up as one of the most open in recent Premier League history. By Asiwaju Adekunle Saheed

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Osun Was the Test, 2027 Is the Exam: INEC and Canada Chart Path to Credible Polls

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The Canadian High Commission has reaffirmed its commitment to supporting Nigeria’s electoral process ahead of the 2027 General Election, with Chargé d’Affaires David Sproule leading a delegation on a courtesy visit to INEC headquarters in Abuja. Sproule said Canada remained committed to countries strengthening democratic processes and pledged continued support in areas including electoral participation, women’s inclusion, public awareness, technical assistance and election observation, describing credible elections as a shared objective between the two countries. INEC Chairman Prof Joash Ojo Amupitan described Nigeria Canada relations as a longstanding partnership rooted in democratic values and good governance, thanking Canada for its support on civic education, institutional strengthening and gender inclusion. Amupitan pointed to the recently concluded Osun State Governorship Election on August 15, 2026 as a benchmark, noting that 94.5 per cent of polling units opened for accreditation and voting by 8.30am alongside smooth BVAS performance and result uploads, calling it the gold standard guiding preparations for 2027. He disclosed that campaigns for the 2027 elections officially began on August 19, 2026, and that INEC had taken part in a National Peace Accord signing by presidential candidates the day before, while identifying five priorities ahead of the polls, consolidating technology gains, deepening inclusivity, strengthening institutional capacity, countering misinformation and running a nationwide mock accreditation exercise in November 2026. The mock exercise, he said, would put the Bimodal Voter Accreditation System and other equipment through rigorous field testing ahead of the general election. By Asiwaju Adekunle Saheed

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Shettima to Nigerians: A Nation Gets Congested When Opportunity Does

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Vice President Kashim Shettima has said the Federal Government is deliberately spreading infrastructure and economic opportunity beyond major cities to ease congestion, expand jobs and promote balanced development nationwide, speaking while inaugurating the Elele Umudioga Egbeda Ubimini Akpabu Ikiri Omoku Dual Carriageway in Rivers State on behalf of President Bola Ahmed Tinubu. The 33.5 kilometre road runs through Ikwerre, Emohua and Ogba/Egbema/Ndoni local government areas, linking communities along a key agricultural, commercial and oil and gas corridor leading to Omoku, widely known as the state’s Gas City. Shettima said the project reflects the Renewed Hope Agenda’s push to extend security, welfare and economic opportunity beyond the centre, arguing that people migrate to cities when roads, markets, jobs and services fail to reach them. He described roads as among the most democratic tools of development, connecting farmers to markets, workers to jobs, students to schools and patients to healthcare. The commissioning adds to a string of infrastructure projects the administration has rolled out in the Niger Delta region this year. By Asiwaju Adekunle Saheed

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Obi Opens 2027 Bid: Nigeria Can Work, and Nigeria Must Work

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Former Anambra State Governor Peter Obi has formally kicked off his campaign for the 2027 Presidential and National Assembly elections, marking the official start of the campaign season on August 19, 2026, with an address to Nigerians and the press. Obi called the moment a defining test for Nigerian democracy, giving citizens a chance to weigh the records and plans of those seeking their mandate at a time of what he described as grave global uncertainty, entering the race with the conviction that Nigeria can and must work. He pointed to sobering figures to frame the stakes, citing IMF data showing 63 per cent, over 140 million Nigerians, living at or below the poverty line, alongside estimates that 35 million people will need food assistance during the 2026 lean season and 3.6 million Nigerians remaining internally displaced due to conflict. Drawing on his private sector background and his record as Anambra Governor, Obi said leadership must be measured by outcomes, not intentions, describing his running mate Senator Rabiu Musa Kwankwaso’s focus on education and human capital development as a complementary governing experience despite their different backgrounds. He framed the campaign around a simple test for voters, whether Nigerians are better off than four years ago, whether businesses can produce and expand, and whether young people and farmers can find productive opportunity. Obi said fixing Nigeria requires more than reactive reforms, calling for disciplined management of public resources and sustained investment in the country’s people as the foundation for economic recovery. By Asiwaju Adekunle Saheed

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UNIBEN Confirms N145.9m Student Loan Windfall for 1,454 Beneficiaries

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The University of Benin has acknowledged receiving N145.98 million from the Nigerian Education Loan Fund for 1,454 students under the 2025/2026 academic session. In a letter dated July 7, 2026, signed by Registrar Bimpe Omoyiwola and addressed to NELFUND Managing Director Akintunde Sawyerr, the university confirmed the funds arrived in three tranches, an initial N92.75 million paid to 910 students on April 15, 2026, followed by N35.18 million on May 7 for 358 students, and a final N18.04 million on June 9 for 186 more beneficiaries. The three payments brought the total received under the additional tranches to N145,975,250, benefiting 1,454 students in all. Omoyiwola described the initiative as invaluable in widening access to affordable tertiary education for Nigerian students, expressing the university’s appreciation to both NELFUND and the beneficiaries. She assured the agency of UNIBEN’s continued commitment to transparency, accountability and strict compliance with the guidelines governing the student loan scheme. By Asiwaju Adekunle Saheed

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Nigeria Pitches Africa’s Youth as China’s Next Big Manufacturing Partner

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A senior Nigerian government representative used a keynote address at the 2026 First Working Meeting of the China Africa TVET Cooperation Programme and China Africa MOOC Platform Quality Development to press for deeper skills partnerships between the two regions. The Nigerian delegate told the gathering that the country’s national development plan and Renewed Hope Agenda place technical and vocational education at the centre of economic transformation across manufacturing, agriculture, construction, renewable energy, ICT and the creative industries, stressing that Nigeria needs welders, coders, agro processors and engineers to build its future workforce. Citing Sustainable Development Goal Four, which calls for a sharp increase in youth with skills for employment and entrepreneurship, the representative called for joint TVET institutions, shared curriculum development, teacher exchanges and apprenticeship programmes tailored to Nigeria’s and Africa’s industrial needs rather than classroom theory alone. The delegate said future cooperation under the Forum on China Africa Cooperation must be guided by three principles, relevance, scale and sustainability, arguing that while China brings technology, investment and experience, Africa’s young population brings energy, innovation and a workforce ready to build. The meeting forms part of ongoing efforts to align skills training programmes across the continent with the demands of industry rather than academic theory. By Asiwaju Adekunle Saheed

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Sanwo Olu’s Last Bow at LASU: N20m Gifts, Honorary Doctorates and a Tearful Goodbye

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Lagos State Governor Babajide Sanwo Olu has announced a cash gift of N20 million each for the best graduating students of the 2024/2025 and 2025/2026 sessions at the Lagos State University’s Combined Convocation, held at the Buba Marwa Auditorium, Ojo. The beneficiaries are Ayilara Lawal Olawale, who graduated with a First Class in Project Management Technology with a CGPA of 4.96, and Adebanjo Samuel Oluolamide, who graduated with a First Class in Aerospace Engineering with 4.97 CGPA. The ceremony also saw honorary doctorate degrees conferred on Aliko Dangote, Akin Kekere Ekun and Bola Adesola. Addressing 20,604 graduands, Sanwo Olu urged them to be good ambassadors of LASU, Lagos State and Nigeria, deploying their knowledge and character to solve problems in society. He described the event as his sixth and final convocation as Visitor to the university, doubling as a farewell to the institution he has led as Visitor throughout his tenure. The Governor reflected on LASU’s growth from its founding over 40 years ago under Alhaji Lateef Kayode Jakande, highlighting his own administration’s investments, including the Babajide Olusola Sanwo Olu Library Complex, a student union building and additional lecture halls, alongside expanding the number of state-owned universities from one to three. He commended outgoing Vice Chancellor Prof Ibiyemi Olatunji Bello, noting that both their tenures were ending at the same ceremony, and called on alumni and philanthropists to support LASU through scholarships and endowments. Chancellor Oba Olufolarin Ogunsanwo, presiding over his first convocation, praised the state’s investment in education and urged graduates to become creators of solutions rather than mere consumers of knowledge. By Asiwaju Adekunle Saheed

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Nigeria’s Qur’an Stars Shine in Makkah, Bring Home N208 Million in Prizes

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Two young Nigerians have brought glory to the country and the Muslim community after emerging among the winners of the 46th King Abdulaziz International Competition for Memorisation, Recitation and Interpretation of the Holy Qur’an, held at the Grand Mosque in Makkah, Saudi Arabia. Maryam Dan’azumi Ibrahim clinched first place in the women’s second category, earning 300,000 Saudi Riyals, equivalent to about N120 million, while Muhammad Marafa Abdullah placed fifth in the men’s second category, taking home 220,000 Saudi Riyals, roughly N88 million. Together their wins put Nigeria’s total haul at around N208 million. The competition, running from August 6 to August 19, 2026, and corresponding to 23 Safar to 6 Rabi’ul Awwal 1448 AH, drew 334 contestants from 133 countries, with 50 winners emerging across five categories testing memorisation, recitation style and interpretation of Qur’anic vocabulary. This year’s edition marked a historic first, with female contestants officially competing internationally for the first time since the event began in 1979, complete with a dedicated closing ceremony for the women. Saudi Arabia also raised the stakes significantly this year, pushing total prize money to 10.26 million Saudi Riyals, about N4.104 billion, the highest in the competition’s history. Minister of Islamic Affairs, Dawah and Guidance, Sheikh Dr Abdullatif Al Alsheikh, said the number of winners had grown from 12 in earlier editions to 50, reflecting the Kingdom’s deepening commitment to honouring Qur’an memorizers worldwide. Winners were celebrated at the Grand Mosque under the patronage of King Salman bin Abdulaziz Al Saud, with Deputy Governor of the Makkah Region, Prince Saud bin Mishaal bin Abdulaziz, representing the King at the main ceremony, while Princess Fahda bint Falah Al Hathleen honoured the female winners at a separate event. Sheikh Al Alsheikh reminded the contestants that true honour lies not just in winning but in living out the Qur’an’s teachings and serving as ambassadors of good conduct for their countries. Nigeria’s dual placement, one female and one male winner in the same category, puts the country among a select group of nations, alongside Saudi Arabia, Algeria, Egypt and others, whose representatives reached the top five on the global stage. By Asiwaju Adekunle Saheed

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