News Review

  American Investors Appeal to Tinubu Over Demolition of N375bn Lagos Real Estate for Lagos-Calabar Coastal Road, Warn of Investor Exodus and Loss of Confidence in Nigeria A group of American investors has called on President Bola Tinubu to urgently intervene in the alleged destruction of their ₦375 billion ($250 million) real estate investment in Lagos, warning that the incident could erode investor confidence in Nigeria. The investors, under the Association of Nigerians in Diaspora, claim their properties in Okun Ajah, Lagos, were demolished to make way for the Lagos-Calabar Highway, despite having secured all necessary approvals. Speaking on behalf of the group, Engr. Stella Okengwu lamented the situation, stating: “These investors have injected $250 million in foreign direct investment into Nigeria’s economy. Instead of support, they are facing unfair government actions.” The investors urged Tinubu to personally intervene, stop what they describe as land grabbing, and resto...

  ECOWAS Court Rejects Abiola Family’s Lawsuit Against FG Over Kudirat Abiola’s 1996 Assassination, Ruling That Applicants Lack Legal Standing to Sue on Her Behalf LAGOS, NIGERIA - The Economic Community of West African States (ECOWAS) Court of Justice on Friday dismissed a lawsuit against the Nigerian Federal Government concerning the 1996 assassination of Kudirat Abiola, wife of the late Chief MKO Abiola. The court ruled that the applicants, Khalifa Abiola, Moriam Abiola, and Hadi Abiola, failed to provide adequate evidence of their legal standing to represent the deceased's estate. The applicants alleged that the Nigerian government failed to prosecute those responsible for Kudirat Abiola's murder, including Sergeant Barnabas Jebila, as identified by a Commission of Inquiry, thereby violating her human rights. They argued that her assassination was directly linked to her campaign for the release of her husband, the presumed winner of the annulled 1993 presidential election....

Court to Decide Monday on Bail for Jude Okoye, Ex-P-Square Manager, Over Alleged N1.38 Billion Money Laundering Case LAGOS – The Federal High Court in Lagos will decide on Monday, March 3, 2025, whether to grant bail to Jude Okoye, the former manager of the music duo P-Square, who is facing money laundering charges. Justice Alexander Owoeye set the date after hearing arguments from Okoye’s lawyer, Inibehe Effiong, and EFCC counsel Fanny Anum on Friday. Okoye, elder brother to P-Square’s Peter and Paul Okoye, was arraigned by the Economic and Financial Crimes Commission (EFCC) over alleged money laundering involving N1.38 billion, $1 million, and £34,537.59. The EFCC accused Okoye and his company, Northside Music Limited, of acquiring an N850 million property in Ikoyi, Lagos, using illicit funds. The prosecution also alleged that in 2022, Okoye converted over $1 million through a Bureau de Change to conceal the source of the funds. Okoye pleaded not guilty, and his lawyer sought ba...

  Saudi Arabia Confirms Ramadan Begins on March 1 After Crescent Moon Sighting, Marking a Month of Fasting for Over 1.8 Billion Muslims Saudi Arabia announced on Friday that Ramadan will begin on Saturday, March 1, after the sighting of the crescent moon. With this confirmation, over 1.8 billion Muslims worldwide will observe the holy month by fasting from sunrise to sunset. Ramadan, the ninth month of the Islamic lunar calendar, follows a 354- or 355-day year. Fasting during Ramadan is one of Islam’s five pillars and is mandatory for healthy adult Muslims. However, exemptions apply to children, the ill, travelers, and women who are pregnant, nursing, or menstruating. For centuries, moon sighting has determined the start of Ramadan and the Islamic festivals of Eid al-Fitr and Eid al-Adha. Many countries, including Saudi Arabia, adjust work and school hours to accommodate fasting schedules. Follow News Review on Facebook and X

Bitcoin Plunges Below $80K as Trump’s Tariff Threats, Record-Breaking Bybit Hack, and Crypto Scandals Spark Market Turmoil and Investor Sell-Off Bitcoin and other cryptocurrencies have tumbled in value in recent days, shaken by tariff threats from U.S. President Donald Trump and fresh scandals in the sector. On Friday, Bitcoin fell below $80,000 for the first time since November, hitting a low of $78,225.84—more than 25% off its peak last month. The drop follows a mass investor sell-off, with many seeking safer assets. Crypto analyst Simon Peters from eToro noted that sentiment is at rock bottom, citing a $1.5 billion hack on Dubai-based exchange Bybit and escalating U.S. trade tensions with Mexico and Canada. The FBI has linked the Bybit attack to North Korea, calling it the largest crypto heist in history. Meanwhile, Argentine President Javier Milei is under scrutiny for allegedly endorsing the now-collapsed $LIBRA cryptocurrency, which lost investors billions. Prosecutors are in...

UEFA Bans Former Premier League Referee David Coote Until 2026 Following Dismissal Over Leaked Videos Showing Derogatory Remarks and Alleged Drug Use UEFA has banned former Premier League referee David Coote from officiating until June 2026 after ruling that he violated basic standards of conduct, bringing football and UEFA into disrepute. Coote, 42, was dismissed by the Premier League’s officiating body (PGMOL) in December after videos surfaced of him making derogatory remarks about Liverpool and ex-manager Jürgen Klopp. Another clip later showed him allegedly using drugs during Euro 2024. PGMOL cited a serious breach of contract, stating his position had become “untenable.” In January, Coote came out as gay, revealing that hiding his sexuality had contributed to poor decisions, including his comments and drug use. He has since apologized for any offense caused. Follow News Review on Facebook and X

President Tinubu Signs ₦54.99tn 2025 Budget Into Law, Expanding Spending on Security, Infrastructure, and Economic Reforms Amid Revenue Projections and Tax Overhaul President Bola Tinubu has officially signed the ₦54.99 trillion ($36.6 billion) 2025 Appropriation Bill into law. The signing took place on Friday in a small ceremony at the State House, Abuja, attended by key government officials and National Assembly leaders. The budget, which was passed by both chambers of the National Assembly on February 13, exceeds Tinubu’s initial ₦54.2 trillion proposal due to increased projected revenues from agencies like the Federal Inland Revenue Service and the Nigeria Customs Service. The 2025 fiscal plan prioritizes security, infrastructure, education, and healthcare, including a $200 million allocation to cushion the impact of reduced U.S. health aid. Economic targets include a crude oil production goal of 2.06 million barrels per day at $75 per barrel, a projected exchange rate of ₦1,500 ...

  Meta Fires 20 Employees for Leaking Internal Information as Zuckerberg Strengthens Ties with Trump and Shifts Meta’s Political Stance Meta confirmed on Thursday that it had dismissed around 20 employees for leaking internal information, reinforcing its strict stance against unauthorized disclosures. “We tell employees when they join the company, and we offer periodic reminders, that it is against our policies to leak internal information, no matter the intent,” a company spokesperson stated, as first reported by The Verge . The spokesperson added that further terminations could follow as Meta continues its crackdown on leaks. The dismissals come amid reports detailing CEO Mark Zuckerberg’s evolving political stance and growing ties with U.S. President Donald Trump. In an internal meeting, Zuckerberg reportedly expressed frustration over leaks, saying, “We try to be really open and then everything I say leaks. It sucks.” He also urged employees to “buckle up” for the coming yea...

Lagos Court Sentences Lecturer to Life Imprisonment for Raping Student in His Office, Orders His Name in Sex Offender Register for Abusing Position of Trust An Ikeja Special Offences and Domestic Violence Court has sentenced Kolawole Muyiwa, a part-time lecturer at Adeniran Ogunsanya College of Education (now Lagos State University of Education), to life imprisonment for raping a student. Justice Rahman Oshodi delivered the verdict on Thursday, ruling that the prosecution proved the case beyond a reasonable doubt. The crime occurred on October 11, 2021, on the school premises, where Muyiwa lured the victim into his office and assaulted her. Despite his not-guilty plea, witness testimonies—including those of the victim, a lawyer, and the investigating officer—corroborated the survivor’s account. Medical reports and other evidence further strengthened the case. The judge condemned Muyiwa for abusing his position of trust and ordered that his name be entered into the Lagos State Sex O...

Kylian Mbappe Set to Return for Real Madrid Against Betis After Missing Copa del Rey Clash Due to Wisdom Tooth Surgery, Confirms Ancelotti Kylian Mbappe is fit to play for Real Madrid against Real Betis this weekend after missing the midweek Copa del Rey clash due to dental surgery, coach Carlo Ancelotti confirmed on Friday. The French forward was rested for Wednesday’s 1-0 semifinal first-leg win over Real Sociedad after having a wisdom tooth removed. “Mbappe’s tooth? Well, I think it’s gone, and he’s not getting it back,” Ancelotti joked. “But apart from that, he’s doing very well and eager to play.” Madrid, level on points with Barcelona but trailing on goal difference, face a challenging away fixture against seventh-placed Betis on Saturday before hosting Atletico Madrid in the Champions League last-16 first leg next Tuesday. Mbappe has been in stellar form, scoring 14 goals in his last 12 games. Meanwhile, Madrid will be without suspended midfielder Jude Bellingham, though Anc...

MTN Nigeria Posts Record N400.44bn Loss as Naira Devaluation Drives Forex Losses to N925bn, Despite 36% Revenue Growth MTN Nigeria has announced a N400.44 billion loss after tax for the year ended December 31, 2024, as the sharp devaluation of the naira drove foreign exchange losses to N925 billion, up from N740 billion in 2023. The loss, revealed in the company’s audited financial statements on Thursday, marks a 192% increase from the N137.02 billion loss recorded in 2023. Despite this, revenue surged by 36% to N3.36 trillion, fueled by growing demand for data and digital services. MTN attributed the financial hit to the naira’s depreciation, which fell from N907/$1 in 2023 to N1,535/$1 by the end of 2024. While the telecom giant’s operating profit rose slightly to N778.2 billion, foreign exchange losses wiped out the gains, resulting in negative retained earnings of N607.5 billion. CEO Karl Toriola acknowledged the challenges, citing macroeconomic headwinds, inflation, and curren...

  FG Proposes Major Electricity Tariff Overhaul Amid Mounting N4 Trillion Debt, Consumer Backlash, and Calls for Fairer Pricing to Stabilize Power Sector The Federal Government is considering a new electricity tariff structure to address disparities in the current billing system and improve liquidity in the Nigerian Electricity Supply Industry. The proposal seeks to align tariffs for Band B and C consumers with the N206/kWh rate paid by Band A customers, who account for only 15% of the country’s 12.82 million power users. However, the plan has sparked criticism from power consumers and the Organised Private Sector, who argue that the government is continuously increasing costs in various sectors despite economic hardships. Mounting Debts in the Power Sector At the public presentation of the National Integrated Electricity Policy (NIEP) and the Nigeria Integrated Resource Plan in Abuja, Minister of Power Adebayo Adelabu revealed that the government owes power generation and distribu...

  Kidnappers Demand N40 Million Ransom for Abducted JoSTUM Students, Threaten Harm as Protests Erupt, University Shuts Down, and ActionAid Calls for Urgent Government Intervention Abductors of female students from Joseph Sarwuan Tarka University, Makurdi (JoSTUM), have demanded a N40 million ransom for their release. A source close to one of the victims, speaking on condition of anonymity, confirmed that the kidnappers have begun contacting the families, threatening harm if the ransom is not paid swiftly. The students were kidnapped on campus around 8:30 p.m. on Tuesday while heading to a lecture hall. Their abduction sparked outrage, leading to protests by fellow students and prompting the university management to shut down the institution for a week to address security concerns. The Academic Staff Union of Universities (ASUU), JoSTUM chapter, has condemned the kidnapping, joining calls for the students' immediate and unconditional release. Meanwhile, ActionAid Nigeria (AAN) h...

  FCCPC Directs MultiChoice to Halt Planned DStv and GOtv Subscription Price Increase Pending Investigation Into Recurrent Tariff Adjustments The Federal Competition and Consumer Protection Commission (FCCPC) has ordered MultiChoice Nigeria, the operator of DStv and GOtv, to suspend its planned subscription price increase pending the outcome of an ongoing investigation. In a statement issued Thursday, FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, emphasized the directive aims to protect consumers from potential exploitation during the review process. The order comes after MultiChoice sought an extension to its scheduled appearance before the commission over concerns regarding recurrent price hikes. Initially set for February 27, the investigative hearing has now been rescheduled to March 6, 2025, with the company’s CEO and relevant officers mandated to attend and submit a detailed response. “As part of this directive, MultiChoice is expressly instructed to maintain the ...

  NAFDAC Seizes 87 Truckloads of Fake and Expired Drugs Worth N1tn, Uncovers Diverted Donated HIV Medications, and Cracks Down on Illicit Drug Markets Abuja, Nigeria – The National Agency for Food and Drug Administration and Control (NAFDAC) has seized 87 truckloads of banned, expired, and substandard medicinal products, valued at an estimated N1 trillion, in a nationwide crackdown on illicit drug trade. The operation, spanning major drug markets in Aba, Onitsha, and Lagos, uncovered shocking violations, including the diversion and repackaging of USAID and UNFPA-donated antiretroviral drugs and condoms. NAFDAC Director-General, Prof. Mojisola Adeyeye, revealed on Wednesday that the seized products included large quantities of expired medications, controlled substances like Tramadol and TAFRADOL, and improperly stored vaccines and prescription drugs. She emphasized that the storage conditions, including stacking medications in toilets and under staircases, rendered even genuine...

Boat Tragedy in Warri: Five Confirmed Dead, 20 Still Missing After Fatal River Mishap as Passengers Returning from Burial Ceremony Drown Amid Poor Visibility and Lack of Life Jackets The Delta State Police Command has confirmed a tragic boat accident in Warri South Local Government Area, resulting in the drowning of five passengers, while 20 others remain missing. Police spokesman Mr. Bright Edafe reported that six survivors were rescued and hospitalized. The incident occurred Monday evening as passengers were returning from a burial ceremony. Eyewitnesses blamed poor visibility for the crash and noted that many passengers were without life jackets. Resident Emmanuel Okoro described the scene as "chaotic," with survivors struggling to stay afloat. Rescue operations are ongoing, with emergency responders and local volunteers searching for the missing victims. Follow News Review on Facebook and X

  Pentagon Orders Removal of Transgender Troops Within 30 Days Under Trump’s New Ban, Exceptions Allowed Through Strict Waiver Process WASHINGTON D.C . — The Pentagon has issued a memo stating that transgender service members will face separation from the military within 30 days unless they secure a waiver, according to a court filing released Wednesday. The memo details that troops with a diagnosis, history, or symptoms of gender dysphoria will be processed for separation. Waivers will be considered on a case-by-case basis, requiring a "compelling government interest" related to warfighting capabilities. To qualify, troops must demonstrate they have never attempted a gender transition and have maintained 36 consecutive months of stability in their assigned sex without significant distress or impairment. This development follows a recent executive order by former President Donald Trump aimed at barring transgender individuals from military service. The policy marks a reversa...

  Lagos Petrol Price Falls to N860 as Dangote Refinery Lowers Ex-Depot Rate to N825, Marking Second Price Cut in February and N125 Total Reduction in 26 Days For the second time in February, Dangote Petroleum Refinery has reduced the ex-depot price of premium motor spirit (PMS), cutting it from N890 to N825 per litre—a N65 per litre reduction. This follows an earlier N60 per litre decrease on February 1, bringing the total price drop to N125 per litre in 26 days. A statement from the refinery, which has a 650,000 barrels-per-day capacity, confirmed that the new pricing takes effect from Thursday, February 27, aiming to ease financial pressure on Nigerians. The price cut aligns with President Bola Ahmed Tinubu’s economic recovery plans and is timed ahead of Ramadan to provide relief. With this adjustment, pump prices in Lagos will range between N860 and N865 per litre, while prices across other regions will vary: MRS Holdings stations: Lagos – N860, South-West – N870, North – N...

  EFCC Arraigns Jude Okoye, Ex-P-Square Manager, for Alleged ₦1.38 Billion Money Laundering, Remands Him in Ikoyi Prison Pending Trial LAGOS – The Economic and Financial Crimes Commission (EFCC) has arraigned Jude Okoye, former manager and elder brother of Paul and Peter Okoye of the defunct music duo P-Square, on charges of laundering ₦1.38 billion, $1 million, and £34,537.59. Okoye was arraigned alongside his company, Northside Music Ltd, before Justice Alexander Owoeye at the Federal High Court in Lagos on Wednesday. The seven-count charge includes allegations of acquiring property with proceeds of unlawful activities and laundering funds through bureau de change operations. The EFCC alleged that in 2022, Okoye and Northside Music Ltd purchased a property worth ₦850 million in Ikoyi, Lagos, knowing it was linked to illicit funds. Another charge accuses him of converting over $1 million through bureau de change operators to conceal its illegal origins. Okoye pleaded not guilt...

Ogun Court Sentences 21-Year-Old to Six Months in Prison for Stealing Fowl, Another Jailed for Generator Theft A Magistrate’s Court in Ago-Iwoye, Ogun State, has sentenced 21-year-old Adebanjo Segun to six months in prison for stealing a fowl. The Ogun State Command of the Nigeria Security and Civil Defence Corps (NSCDC) confirmed the sentencing in a statement on Wednesday, revealing that Segun was arrested on February 19, 2025, for stealing a hen. Investigations further showed he had committed a similar offence in December 2024 but was previously pardoned. Following his guilty plea, Magistrate O.F. Adeduntan (Mrs.) convicted and sentenced him under Section 430 of the Criminal Code Laws of Ogun State. In a separate case, 20-year-old Kazeem Tobi was also sentenced to six months in prison for stealing an Elepaq generator worth ₦120,000. Arrested on February 4, 2025, while attempting to sell the stolen item, he was charged with conspiracy and possession of stolen property. After plea...

  Naira Marley Breaks Silence After Court Clears Him, Sam Larry, and Prime Boy in Mohbad’s Death Case, Shares Quranic Verses on Justice For the first time since being cleared by a Yaba Magistrate Court, Nigerian singer Naira Marley has spoken out regarding the tragic death of fellow artiste Mohbad. On Tuesday, the court ruled that Naira Marley, his associate Sam Larry, and Prime Boy had no case to answer in connection with Mohbad’s passing. However, the court held that the auxiliary nurse who administered an injection to the late singer, along with his friend Ayobami, would face prosecution for reckless and negligent acts. Following the ruling, Naira Marley took to Twitter and Instagram, sharing Quranic verses emphasizing trust in Allah and divine justice. One verse stated: “And whoever puts all his trust in Allah, he will be enough for him” (Quran 65:3). Another verse referenced divine planning: “They planned, but Allah also planned. And Allah is the best of planners.”  ...

Mbappé Left Out of Real Madrid Squad for Copa del Rey Semi-Final vs. Real Sociedad Due to Dental Issue, But Will Still Travel Real Madrid have omitted Kylian Mbappé from their squad for Wednesday’s Copa del Rey semi-final first leg against Real Sociedad due to a dental problem. The French forward missed training on Tuesday but will still travel to San Sebastián, confirmed coach Carlo Ancelotti. Mbappé remains Madrid’s top scorer this season with 28 goals in 39 appearances. Midfielder Fede Valverde and goalkeeper Thibaut Courtois were also left out as they recover from minor fitness concerns. Meanwhile, Jude Bellingham returns after serving a suspension. In the other semi-final, Barcelona and Atlético Madrid played out a dramatic 4-4 draw on Tuesday. Follow News Review on Facebook and X

  Trump Unveils $5M ‘Gold Card’ Residency Program to Attract Wealthy Investors, Says Sales Could Reduce U.S. Deficit and Hints Russian Oligarchs May Qualify Washington, D.C. — President Donald Trump announced Tuesday a new high-price residency permit, dubbed the "gold card," available for $5 million each. The initiative, he said, aims to attract wealthy job creators and help reduce the national deficit. "We’re going to be selling a gold card. You have a green card, this is a gold card," Trump told reporters in the Oval Office, emphasizing its potential as a pathway to U.S. citizenship. He estimated sales could reach one million and confirmed all applicants would undergo vetting. When asked if Russian oligarchs could apply, Trump said it was possible, adding, “I know some Russian oligarchs that are very nice people… I think they can afford $5 million.” Many Russian elites have faced Western sanctions since Moscow’s invasion of Ukraine three years ago. Standing bes...

  NAFDAC to Unseal Aba Drug Markets Today Following Agreement with Gov. Otti, But Shops Linked to Fake and Expired Drugs Will Remain Shut The National Agency for Food and Drug Administration and Control (NAFDAC) will today, February 26, unseal all sections of Ariaria International Market, Eziukwu Market, and Tenant Road drug markets in Aba, which were previously shut down over allegations of selling fake and expired drugs. However, shops found guilty of such activities will remain sealed, according to government sources. The decision follows intense negotiations between NAFDAC and Abia State Governor Alex Otti. In a statement issued by his Chief Press Secretary, Ukoha Njoku Ukoha, Otti reaffirmed his administration’s commitment to eliminating counterfeit drug trade, warning that offenders would be decisively dealt with. The reopening exercise will be conducted by NAFDAC’s South-East Zonal Director. Meanwhile, the agency continues its nationwide crackdown on fake drugs, having se...

Jonathan Warns of ‘Ghost Voters,’ Urges INEC Officials to Resign Instead of Rigging Elections, Calls for Stronger Democratic Reforms in West Africa Former President Goodluck Jonathan has raised concerns over the credibility of Nigeria’s electoral process, citing the presence of ‘ghost voters’ as a major challenge. Speaking at the YIAGA Africa Reflection Conference on Democratic Elections in West Africa, held in Abuja on Tuesday, Jonathan asserted that accurate vote counts remain elusive due to electoral malpractice. He urged officials of the Independent National Electoral Commission (INEC) to uphold integrity, stating that it is more honorable for them to resign rather than yield to pressure to manipulate elections. “In Nigeria, you can’t get an accurate count of votes because we have too many ghost voters,” Jonathan remarked. He stressed the need for electoral officials willing to stand firm against political pressure or step down if faced with unethical demands. Highlighting the b...

  Lagos Assembly Turmoil: Obasa Defies Political Pressure, Insists on Legal Battle Over Controversial Impeachment as APC Leaders Scramble for Resolution The legal team of Mudashiru Obasa, the ousted Speaker of the Lagos State House of Assembly, has refuted claims that he plans to withdraw the lawsuit challenging his removal. Obasa, who was impeached by a majority of lawmakers on January 13, 2025, maintains that his removal was unlawful and has taken the matter to the Lagos State High Court in Ikeja. Speaking on Tuesday, Obasa’s lead counsel, Chief Afolabi Fashanu (SAN), confirmed that preparations for the court hearing scheduled for February 28 remain on course, despite ongoing political efforts to resolve the crisis. Fashanu clarified that Obasa will not return to the Assembly until the court rules on the case, stressing that doing so before a judgment would be illegal. “It could amount to an illegal step for Obasa to return to the House pending the decision of the case, which is ...

  From Coup to Assassination: How Murtala Muhammed’s Rejection of Power-Sharing, Bold Reforms, and Military Resentment Led to His Tragic End – Babangida Reveals Former Military President, General Ibrahim Babangida, has revealed that the plot leading to the assassination of former Head of State, Major General Murtala Muhammed, on February 13, 1976, began the moment he assumed office in 1975. According to Babangida, Muhammed’s refusal to accept a power-sharing arrangement with Brigadiers Olusegun Obasanjo and Theophilus Danjuma created tensions that ultimately led to his downfall. In his recently launched autobiography, A Journey in Service , Babangida recounts how Murtala Muhammed rejected a proposed triumvirate leadership structure following the coup that ousted General Yakubu Gowon. Despite expectations of a collective administration, Muhammed insisted on sole authority, a decision that fueled discontent among senior officers. Babangida also reflected on Murtala’s rapid reforms...

  Natasha Akpoti-Uduaghan Sues Akpabio for N100bn Over Defamation as Senate Backs Him, Following Heated Clash on Seat Relocation and Alleged Derogatory Remarks The Senate has thrown its support behind Senate President Godswill Akpabio after Kogi Central Senator Natasha Akpoti-Uduaghan filed a N100.3 billion defamation lawsuit against him. The lawsuit follows a heated clash between the two lawmakers last week over the relocation of Akpoti-Uduaghan’s seat during plenary. In the suit (CV/737/25), filed on February 25, 2025, at the Federal Capital Territory High Court, the Kogi senator accused Akpabio of making defamatory remarks that were later published by his aide on Facebook. Senate spokesperson Yemi Adaramodu dismissed the lawsuit, insisting that the parliament enjoys absolute privilege and that legislative proceedings are not actionable. Akpoti-Uduaghan claims that the Facebook post, titled "Is the Local Content Committee of the Senate Natasha’s Birthright?" included a ...