FocalPoint Reports

CBN’s reforms are attracting more foreign investors, says global, Nigerian analysts Major financial analysts across the global have expressed optimism that Nigeria’s investment climate has significantly improved, paving way for foreign investors swooping on Nigeria assets. According to the analysts the development has largely been spurred by the impact of the Central Bank of Nigeria (CBN) reforms in the financial sector now spreading across key sectors of the economy. The country is now getting a favorable nod from investors, pushing stocks higher and bond yields lower as painful reforms restore confidence. Already, Nigeria’s sovereign risk spread has fallen to the lowest level since January 2020, erasing the premium accumulated during the pandemic and subsequent strain on its economy. While US President Donald Trump’s widening trade war has taken emerging markets on a wild ride, Nigeria has quietly held its own, attracting foreign capital reassured by currency reforms and other measur...

NAFDAC Introduces New Technologies to Combat Fake Medical Products  The National Agency for Food and Drug Administration and Control (NAFDAC) has unveiled new technologies to tackle the growing menace of substandard and falsified medical products, particularly in Nigeria’s Northwest Zone.  Speaking at a sensitisation workshop in Kano, NAFDAC’s Director-General, Prof. Mojisola Adeyeye, represented by the agency’s Director of Post-Marketing Surveillance, Mr Bitrus Fraden, introduced three key initiatives—the GreenBook, Traceability Project, and Pediatric Policy.  The “GreenBook” serves as a digital tool to help consumers identify and avoid fake or substandard products. The “Traceability Project” establishes a legal framework to track pharmaceutical products along the supply chain, ensuring authenticity. Meanwhile, the “Pediatric Regulation 2024” addresses the special medical needs of children by ensuring the safety and efficacy of paediatric medicines.  “With...

BREAKING: Court Grants Bail To Ex-NHIS Boss Usman Yusuf A Federal Capital Territory (FCT) High Court in Abuja has granted bail to Professor Usman Yusuf, the former Executive Secretary of the National Health Insurance Scheme (NHIS). FocalPoint  reports that Yusuf is facing multiple corruption charges brought by the  Economic and Financial Crimes Commission (EFCC) . The ruling was delivered by Justice  Chinyere Nwecheonwu  on Thursday morning, though details of the bail conditions remain undisclosed. Yusuf was arraigned on five counts of corruption, including embezzlement, abuse of office, and the unlawful award of contracts. The EFCC accused him of approving the purchase of a vehicle at an inflated price of ₦49,197,750—far above the allocated ₦30,000,000. Additionally, he allegedly awarded a ₦10.1 million training contract to a foundation linked to him, despite only half of the intended beneficiaries participating. Another allegation involved awarding a ₦17.5 million ...

Tax Reform Bill: We will balance public interest with revenue overhaul – Speaker Abbas, Faleke Speaker of the House of Representatives, Abbas Tajudeen, has assured Nigerians that the National Assembly will carefully balance public interest with the need to reform the country’s revenue system while considering the four tax bills currently before the parliament. Speaking at the public hearing on the tax reform bills on Wednesday, Abbas emphasized that taxes must be fair, transparent, and justifiable, ensuring they support public revenue without placing excessive burdens on individuals and businesses. He pledged that the House would thoroughly scrutinize the bills to align them with the best interests of Nigerians. Similarly, the Chairman of the House Committee on Finance, James Abiodun Faleke, highlighted the urgency of overhauling Nigeria’s tax system to align with global economic realities. The tax reform bills under consideration include the Nigeria Tax Bill, the Nigeria Tax Administr...

Tinubu Reaffirms Commitment To APC Agenda  President has expressed confidence in the All Progressives Congress (APC) leadership, stating that the party has the capacity to build Nigeria and contribute significantly to Africa’s growth. Speaking on Tuesday during the APC Caucus meeting at the State House, Abuja, Tinubu reiterated his commitment to the Renewed Hope Manifesto, assuring Nigerians of a brighter future. “We can steer the future of this country and make a difference. I like what is happening around the world. It is teaching a lesson that we, particularly Nigeria, is a great African country that can build and help Africa to grow,”  Tinubu stated. FocalPoint  reports that the president emphasized the importance of food sovereignty, saying it is not just about achieving food security but ensuring that Nigeria has full control over its agricultural production. “I am a very happy man; the sunny side of this country is on the horizon. Things are getting bet...

Trump Announces Gold Card, Another Way To Citizenship, At $5 Million President Donald Trump of the United States has announced a new citizenship policy through the Gold Card. FocalPoint  reports that President Trump said the policy would help drive investment into America and provide jobs while helping the country settle its debt. He stated this while addressing newsmen at the White House, on Tuesday. He disclosed that the Gold Card citizenship policy would commence in two weeks. He explained that the Gold Card would be equal to the  Green Card, but would accord more privileges to holders. “ We’re going to be doing something else. It’s going to be very, very good. We’re going to be selling a gold card. You have a green card. This is a gold card. We’re going to be putting a price on that card of about five million dollars. And that’s going to give you green card privileges. Plus, it’s going to be a route to citizenship. And wealthy people will be coming into our count...

Delta Govt transforming Maritime Poly, Burutu, says Governing Chair Chairman,  governing council of Delta State Maritime Polytechnic, Burutu, Chief Julius. Tarabiri Government has appealed to stakeholders to see development of the institute as a journey, not a sprint, assuring the school was being transformed. Chief Government, who also appealed to the Ijaw National Congress, INC, to be visible/active in Delta State to partner the political class towards rapid development for the Ijaw terrain, said the formation of Ijaw Journalists Association Worldwide, IJAW, was a welcome initiative. The Maritime Polytechnic chair made the appeal during a courtesy call on him, weekend, by the IJAW, led by its National President, Bulou Kosin, who voiced concerns that the only and wobbling state-owned tertiary institution in the Ijaw terrain of Delta State was reportedly not yet on the available permanent site, well over a decade, after take-off. Kosin said "IJAW is set to add a clear ...

Kalu urges Tinubu to recognise Abiola as former president Sen. Orji Uzor Kalu (APC-Abia) has urged  President Bola Tinubu to declare the late Chief MKO Abiola as one of Nigeria’s former presidents, posthumously. Kalu, who chairs the Senate Committee on Privatisation, said Abiola’s portrait should also be hung among that of Nigerian presidents. He spoke at the National Assembly on Tuesday against the background of the recent admission by former military president, retired Gen. Ibrahim Babangida, that Abiola indeed won the June 12, 1993, presidential election. The June 12, 1993, presidential election was adjudged to be the freest and fairest conducted in the country at the time. The News Agency of Nigeria (NAN) recalls that Babangida, in his memoirs, “A Journey in Service: An Autobiography”, admitted that the late politician and philanthropist, won the election. Kalu, a former governor of Abia, told journalists that with Babangida’s latest revelations, the controversy over the electi...

You Can Only Fool Idiots, All Your Anger Is Because Tinubu Denied You A Ministerial Position – Adeyanju Knocks El-Rufai Nigerian lawyer and activist, Deji Adeyanju has claimed that former governor of Kaduna State, Nasir El-Rufai is angry because President Bola Tinubu failed to give him a ministerial position Recall that during an interview on Arise News, El-rufai criticized President Bola Tinubu, the present administration and some key elements in the government. He claimed that Tinubu did not want him in his cabinet, exonerating members of the National Assembly, who actually screened him out. In August 2023, the Senate withheld the confirmation of the former governor as Tinubu’s ministerial nominee, citing security reports from the State Security Service for the action. But El-rufai said the “ security thing was a good excuse they used. Since then, has anyone released that report telling us the security issue?” He also alleged that the National Security Ad...

You Talk Before You Think – NLC Official Slams Akpabio Over ’30 Percent’ Tax Statement An official of the Nigeria Labour Congress (NLC) has challenged the Senate President, Godswill Akpabio, over claims that only 30 per cent of Nigerians pay tax. Akpabio, who made the statement while declaring open a two-day public hearing on the controversial tax reforms bills organised by the Senate in Abuja yesterday, also described tax reforms as the future of Nigeria which must be gotten right. Speaking to Vanguard, the NLC official who spoke under the condition of anonymity argued that a government that is unaccountable to the people should not expect the citizenry to take the issue of contributing their hard earned resources to such profligate government. He lamented that government officials live flamboyantly at the expense of the Nigerian  people. He said, “ citizens can only pursue the civic duty of paying their taxes when they see a connection between their survival and busines...

Nigeria’s Election Is War: Why My Wife Didn’t Join Me In Campaigns – Gov Aiyedatiwa The Governor of Ondo State, Lucky Aiyedatiwa, has said campaigns and elections in Nigeria could be likened to going to war. FocalPoint  reports that Governor Aiyedatiwa said he did not take his wife,  Oluwaseun Aiyedatiwa , to campaigns for security reasons. In an interview with Channels TV on Monday, the Governor stated that his wife joined him during his second-term swearing-in ceremony on Monday because it was a celebration after the war. He, however, added that while his wife was not in the open during his campaign, she was at home praying for him and organizing things. His words: “ I can tell you also that during campaign years, I was there with my deputy and all our supporters. But don’t forget, just like while you are there now at the studio, your wife is not there with you. So I see that as being at work. And you don’t take your wife to your place of work. At the time, we were runn...

Obiano Used Unlicensed Companies To Divert ₦4 Billion – EFCC Witness A witness for the Economic and Financial Crimes Commission (EFCC) has alleged that former Anambra State Governor, Willie Obiano, used three unlicensed companies to siphon over ₦4 billion in state security funds while in office. Focalpoint Reports  gathered that the revelation came on Monday at the Federal High Court, Abuja, where the former governor is standing trial on nine charges of financial fraud. Obiano, who governed Anambra State from 2014 to 2022, is accused of diverting the funds between April 2017 and March 2022 through firms without any official business relationship with the state government. The EFCC claims the money was converted into dollars and handed over to Obiano in cash. The ex-governor, however, denied all charges during his arraignment in January 2024. Unlicensed Firms In Money Trail During Monday’s proceedings, the EFCC’s third witness, Andrew Ali, a Central Bank of Nigeria (CBN) o...

Tax Reform Bills: Less than 30% of Nigerians pay tax, says Akpabio Senate President Godswill Akpabio on Monday lamented that less than 30 percent of Nigerians pay tax. Akpabio, who spoke during a public hearing on the Tax Reforms Bills organized by the Senate committee on finance, however, said although less than 30 percent of Nigerians pay tax, 100 percent of the people seek good infrastructure like good roads, improved healthcare system among others. Among dignitaries present at the public hearing are the minister of finance and coordinating minister for the economy, Dr. Olawale Edun, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Dr. Mele Kyari, the Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, the Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, Comptroller General of the Nigeria Customs Service (NCS), Adewale Adeniyi, former President of the Nigerian Bar Association (NBA), Y...

Fuel Scarcity Imminent Across Nigeria As IPMAN Gives FG 7-Day Ultimatum To Clear Off ₦100 Billion Debt The Independent Petroleum Marketers Association of Nigeria (IPMAN) has given a seven-day ultimatum to withdraw services across the country over the non-payment of bridging claims amounting to ₦100 billion. The Chairman of the IPMAN Depot Chairmen Forum,  Yahaya Alhasan , disclosed this during a press conference in Abuja on Monday. He disclosed that the Nigerian government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA) has failed to clear its ₦100 billion bridging debt owed to petrol marketers 40 days after promising to do so in the presence of the National Security Adviser,  Nuhu Ribadu . He revealed that Northern depots, comprising the Jos depot, Gusau depot, Minna depot, Suleja depot, Kaduna depot, Kano depot, Gombe depot, Yola depot, and Maiduguri depot, have become completely grounded due to this lingering debt. Alhasan said, ...

You Are Not In Any Position To Teach Us How To Handle LG Crisis – APC Knocks Makinde The Osun State chapter of the All Progressives Congress (APC) has stated that the advice from the Governor of Oyo State, Seyi Makinde concerning the crisis in the state is unnecessary and not welcomed. The party urged Makinde to stop referring to them as the aggressor in the lingering political impasse in the state. Reports that Makinde, while in Osogbo, Osun State on Sunday to witness the swearing-in of the council chairmen by his Osun State counterpart, Ademola Adeleke, had advised the state APC not to resort to self-help but to approach the court to settle the matter. However, reacting via a statement by its spokesperson, Kola Olabisi, the APC claimed that Makinde was simply trying to please Adeleke. Olabisi said, “That piece of advice by Governor Makinde was unnecessary as every available development pointed to the fact that the Oyo State Governor was internalising metaphorical blood and s...

‘Tinubu’s Message Shamed Many People Into Action’ – El-Rufai Former Governor of Kaduna State, Nasir El-Rufai, has asserted that President Bola Tinubu‘s message to him on his birthday last week shamed many people into wishing him a happy birthday. FocalPoint reports that the relationship between  El-Rufai  and Tinubu recently deteriorated as the former Governor has been critical of the All Progressives Congress (APC) administration and policies, accusing those around the president of playing tribal politics. Despite the criticism, Tinubu, in a statement signed by the Special Adviser to the President on Information and Strategy,  Bayo Onanuga , on Sunday, February 16, 2025, hailed El-Rufai. In a post via his 𝕏 handle on Monday, El-Rufai appreciated everyone who celebrated him. He noted that many people did not want to send their best wishes until President Tinubu’s message shamed them into action. He wrote,  “It has been about a week since many friends, asso...

NDLEA busts international drug ring, nabs Thai lady at Lagos Airport with illicit drugs …Intercepts UK-Bound Drug Shipments Concealed in Crated Cartons Operatives of the National Drug Law Enforcement Agency (NDLEA) have foiled an attempt by a 24-year-old Thai woman, Ms. Pattaphi Wimonnat, to smuggle 43 parcels of Canadian Loud—a synthetic strain of cannabis—into Nigeria. The illicit consignment, weighing 46.60 kilograms, was intercepted at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. NDLEA spokesman, Femi Babafemi, confirmed the arrest, stating that officers discovered the drugs hidden in her luggage. “The suspect, who confessed to being a hired drug trafficker, was apprehended on Thursday, February 20, 2025, during the inward clearance of passengers on a Qatar Airways flight from Thailand via Doha at the arrival hall of Terminal 2, Lagos airport,” Babafemi said. Wimonnat admitted that a drug cartel had recruited her and promised a payment of $3,000 upon the success...

IBB: ‘The Man They Envied Silently’ – Abacha’s Children Rise To His Defence Children of the late Military Head of State, General Sani Abacha, have risen to his defense as reactions trail revelations made by General Ibrahim Babamosi Babangida (IBB). FocalPoint  reported that General Babangida, in his autobiography, ‘A Journey In Service’ stated that the late General Abacha annulled the 12th June 1993 presidential election without his permission. Abacha’s children,  Sadiq Sani Abacha  and  Gumsu Sani Abacha , have taken to social media to hail the late General amid controversies arising from the book launched on Thursday. His son, Sadiq, described his father as a man his critics envied with silent deceit. He added that history shall remember the Late Head of State for being a better leader. “ The man Abacha—you have always been the one they envied with silent deceit. History shall remember you for being a better leader, no matter how much they try to put...

Forgive Babangida over June 12, Ozekhome begs Nigerians Constitutional Lawyer and Civil Rights activist Prof. Mike Ozekhome has appealed to Nigerians to forgive former Military President, Gen. Ibrahim Badamosi Babangida for annulling the June 12, 1993 presidential election.  Babangida admitted in his book released on Thursday, February 20 that Chief MKO Abiola actually won the election, saying forces beyond him compelled him to annual the election.  In a statement titled: “Babangida’s confession and atonement: quo vadis,” Ozekhome said Nigerians should “let the wounds heal; let the heart melt; and let the spirit of national triumphalism prevail.” According to him:”I have carefully read and listened to former Nigerian military president, General Ibrahim Badamosi Babangida’s public remorse and regrets over the atrocious annulment of the June 12,1993 presidential elections. He did this 32 whopping years later.  “I want to very quickly say that it takes a man with strong guts...

I Said It Was Military Coup, Not Igbo Coup, Apologize To Ndigbo – Okonkwo To Tinubu Nollywood legend, Kenneth Okonkwo, has called on President Bola Tinubu to apologize to Ndigbo, on behalf of the Federal Government, for atrocities against them. FocalPoint reports that Okonkwo said he had made it clear that the tagging of the 1966 coup as an Igbo coup was wrong and misrepresentation. In a statement on his 𝕏 handle, on Saturday, the former All Progressives Congress (APC) chieftain lauded General  Ibrahim Badamasi Babangida  (IBB) for the revelation in his autobiography ‘A Journey In Service’. Barrister Okonkwo added that the revelation from IBB also showed that the revenge coup of July 1966 and the resultant civil war of 1966 – 1970 against Ndigbo were uncalled for. He noted that Ndigbo remained agent of development and should be respected and treated faily. “I have always made it clear in my interviews that what happened in 1966 was a military coup, not an Igbo coup. The ...

‘As A Trader, I Can Confidently Say Our Economy Is In Decline’ – Peter Obi Former presidential candidate of the Labour Party, Peter Obi ,  has decried the state of Nigeria’s economy. FocalPoint  reports that Obi said Nigeria’s economy is struggling. He stated this following his observation of Wednesday’s Kaduna International Trade Fair. In a statement, on his 𝕏 handle on Friday, the former Governor of Anambra State stated that the last  Kaduna International Trade Fair was a shadow of what it used to be. “ From my interactions, I observed an economy in decline. The trade fair itself was a shadow of its former self once vibrant, now nearly deserted, with multinational companies conspicuously absent. “As a trader and a keen observer of economic activities, I can confidently say that our economy is struggling. Having attended the trade fair several times over two decades ago, I noticed the glaring absence of major corporations that once actively participated. “The Kadun...

Abiola: IBB, Obasanjo, Abubakar, David Mark Should Be In Jail – Sowore Former presidential candidate of the African Action Congress (AAC), Omoyele Sowore, has said Ibrahim Babangida (IBB), Olusegun Obasanjo, Abdusalami Abubakar and David Mark should be in jail. FocalPoint  reported that the former Military Head of State,  IBB , at the launch of his autobiography ‘A Journey of Service’ on Thursday, disclosed that  Moshood Abiola  won the 1993 annulled election. In a statement on his 𝕏, Sowore stated the revelation made by IBB was enough reason why he, former President Obasanjo, former President Abubakar and former Senate President Mark should be in jail. “ MKO Abiola won the June 12 1993 election, he satisfied all the requirements to be declared President of Nigeria says evil man Babangida. “This is the reason these guys Babangida, Obasanjo, Abubakar Salam, and David Mark must be in jail ,” he wrote. Earlier on Thursday, the AAC national leader had written ...

If Nigeria Has Conscience, IBB Would Not Show His Face In Public – Farotimi Human rights lawyer, Dele Farotimi, has condemned the description of former Military President, Ibrahim Badamasi Babangida (IBB) as a statesman. FocalPoint  reported that the former Military President launched his autobiography ” A Journey of Service” on Thursday. The book launch attracted former presidents and military heads of state, including Yakubu Gowon, Olusegun Obasanjo, Abdulsalami Abubakar, Goodluck Jonathan, and current President Bola Tinubu. At the event, IBB announced that Moshood Abiola won the 1993 presidential election which he annulled. He, however, disclosed that it was the former Military Head of State,  Sani Abacha , who served in his administration that annulled the election without his knowledge. “I would later find out that the ‘forces’ led by General Sani Abacha annulled the elections. There and then, I knew I was caught between ‘a devil and the deep blue sea’!! From th...

Without IBB, I wouldn’t be in politics – Tinubu President Bola Ahmed Tinubu has credited former Military President, General Ibrahim Badamasi Babangida (IBB) for his entry into politics, stating that without Babangida’s influence, he would not be in public service. Tinubu made this revelation during the launch of IBB’s autobiography, “A Journey in Service,” unveiled on Thursday in Abuja. He acknowledged Babangida’s role in fostering the emergence of young political leaders, which significantly shaped his own political journey. “Without your influence, people like me would not be in politics. Your progressive vision for involving young, talented individuals has inspired many, including those here today. This library project reflects the happiness of visionary leadership. Thank you for being who you are,” Tinubu said. The president also praised Babangida’s economic reforms, particularly the licensing of new-generation banks, which transformed Nigeria’s financial landscape. Reflecting on I...

President Tinubu Appoints Chairman, Members Of National Assembly Service Commission President Bola Tinubu, on Thursday, approved the appointment of the Chairman and 12 members of the National Assembly Service Commission (NASC). Focalpoint  reported that the President’s Special Adviser on Information and Strategy,   Bayo Onanuga , disclosed this in a statement. According to the statement, the President approved Dr Saviour Enyiekere’s appointment as Chairman of the National Assembly Service Commission for a five-year renewable term. Until his appointment, Enyiekere, an environmental specialist, was the Deputy Chief of staff to the  Senate President . President Tinubu also approved the appointment of two commission members from each of the six geopolitical zones. The 12 members are: Suleiman Othman Hunkuyi and Hon. Yusuf A. Yusuf Tabuka for North West, Aminu Ibrahim Malle and Alhaji Lawan Maina Mahmud for North East, Mark Hanmation Tersoo and Salihu Umar Agboola Balogun for ...

Babangida Will Blame Someone Else For Past Deeds – Sowore Rubbishes Book Launch Nigerian activist and former presidential candidate, Omoyele Sowore has described erstwhile military leader, Ibrahim Babangida, as a murderous dictator who has lived his life in falsehood. FocalPoint  reports Babangida is set to launch his autobiography, titled ‘A Journey In Service,’ today, February 20, 2025, at the Congress Hall of Transcorp Hilton Hotel in Abuja. The event also coincides with a fundraising initiative for the IBB Presidential Library. The event will be chaired by former President  Olusegun Obasanjo , with  President Bola Tinubu  serving as the special guest of honour. Speaking on the planned event, Sowore claimed that Babangida would falsely blame another military dictator, late General  Sani Abacha,  for the annulment of the June 12 election in the book. He fumed that the former military leader was planning a book launch of falsehood after annulling the ...

Tinubu mourns Clark, Applauds his Legacy President Bola Tinubu has expressed sadness over the passing of former Federal Commissioner for Information and respected leader of the Pan-Niger Delta Forum, Chief Edwin Clark. Tinubu’s condolence message was contained in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Tuesday. Tinubu said, “He led an illustrious life marked by dedicated service, at different times, to the nation and his community as a councillor, state and federal cabinet member. “He was also a passionate advocate for resource control, economic and environmental justice in the Niger Delta.  The statement reads: “On behalf of the federal government, the President extends his condolences to the Edwin Clark family, the Ijaw nation, the people of the Niger Delta, and the government of Delta State. President Tinubu mourns Chief Clark and describes his passing as a deeply sobering loss. “Reflecting on the life of the late ...