Author: Nigeriabrief

NDIC Completes Liquidation for 89 Closed Microfinance and Mortgage Banks The Nigeria Deposit Insurance Corporation (NDIC) has officially announced the conclusion of liquidation processes for 89 Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs). This decision follows the successful acquisition of these institutions by new owners. On Wednesday, NDIC revealed that it would cease liquidation activities for the identified banks, as they have been acquired under the acquisition and underwriting (P&A) resolution model implemented by the organization. These 89 closed banks are among the 179 MFBs and four PMBs whose banking licenses were revoked by the Central Bank of Nigeria…

WASHINGTON (AP) – In a significant bipartisan effort, the House of Representatives is poised to vote on a bill that aims to extend temporary protections for Haitian immigrants, standing in opposition to the Trump administration’s attempts to terminate the program. The legislation, scheduled for a vote on Thursday, mandates that the administration extend Temporary Protected Status for Haiti for an additional three years. This would enable hundreds of thousands of qualifying immigrants to remain in the United States without the constant fear of deportation. House Democrats propelled this bill to a vote on Wednesday, garnering support from a few Republicans,…

Dangote Group Advances Largest Single-Train Oil Refinery Project The Dangote Group is constructing the world’s largest single-train oil refinery, boasting a remarkable production capacity of around 650,000 barrels per day. Edwin Devakumar, the Group Executive Director of Dangote Industries, recently discussed the ambitious project in an interview with CNBC Africa’s Esther Awoniyi. Project Overview Reveals Significant Investments This mega-project, valued at approximately $12 billion, encompasses both an oil refinery and a petrochemical plant. Devakumar elaborated on the details, revealing that the petrochemical complex will not only produce petrochemical products but also fertilizers. Notably, the plant is set to generate gas-based…

Fitch Ratings Highlights Potential Risks to African Banking Systems Amidst Rising Oil Prices Fitch Ratings has issued a cautionary note regarding the impact of escalating oil prices due to ongoing tensions in Iran. The global ratings agency warns that a significant increase in oil prices could exert new pressures on African banking systems, potentially influencing inflation rates, national currencies, and sovereign creditworthiness across the continent. Baseline Outlook Holds Limited Threat, But Severe Scenarios Loom In a recent report, Fitch outlines its baseline outlook, which assumes average oil prices of $70 per barrel by 2026. This scenario poses little immediate threat…

Liverpool’s Hugo Ekitike Out for the Season with Major Injury Liverpool FC has confirmed that striker Hugo Ekitike has sustained a significant Achilles injury, sidelining him for the remainder of the season and preventing him from participating in the upcoming World Cup with the French national team. The injury occurred during the first half of Tuesday’s Champions League match against Paris Saint-Germain at Anfield, where Ekitike slipped while on the pitch. Subsequent medical assessments revealed that he had ruptured his Achilles tendon, prompting an immediate substitution. Medical experts are concerned that the 23-year-old could face a recovery period of at…

Immigrant Family Faces Court Dismissal and Detention In the summer of 2025, Jose, his wife Carolina, and their teenage daughter arrived for their first scheduled hearing at an immigration court in downtown El Paso, eager to plead for political asylum after fleeing Venezuela. More than a year prior, the family had navigated the Biden administration’s entry rules, securing an appointment through the CBP One mobile app, meeting with U.S. Customs and Border Protection officials, and applying for asylum. This process granted them “parole,” allowing them temporary residency and the right to work in the U.S. while their case was pending.…

Alicia Baumgardner Set to Battle at Madison Square Garden As Alicia Baumgardner prepares to step into the ring at Madison Square Garden on Friday night, her opponent, Korean boxer Bo Mi Le Shin, won’t be the only challenge she faces in her quest for the women’s super featherweight title. The fight also symbolizes a broader struggle for gender equality within the sport. Advocating for Equality in Boxing Baumgardner is an advocate for harmonizing rules for female and male fighters in boxing. Ahead of Friday’s showdown, she expressed her commitment to evolving the sport. “As you grow as an individual and…

African startups raised $705 million in funding during the first quarter of 2026, marking a 26.5% increase compared to the same period in 2025. This funding was distributed across 59 deals spanning 14 countries, according to data from Condia and TechCabal Insights, as reported by African Business. These figures signal a consistent rebound in venture activity despite a recent slowdown in the funding landscape, with investments increasingly focused on key markets. Leading Countries in Venture Capital Investment Egypt emerged as the frontrunner, attracting the largest share of disclosed funds at $190 million, solidifying its reputation as Africa’s top destination for…

Borno APC Endorses Abdullahi Musa Askira for Senate Candidacy In a significant political development, the Borno State chapter of the All Progressives Congress (APC) has officially endorsed Abdullahi Musa Askira, the Deputy Speaker of the State House of Assembly, as their candidate for the Borno South Senatorial District in the upcoming 2027 general elections. Potential Conflict with Veteran Lawmaker This endorsement has created a potential conflict with incumbent Senator Mohammed Ali Ndume, a well-respected figure in Nigerian politics and the longest-serving member of parliament, who has represented the constituency for multiple terms. Ndume’s established position may present challenges for Askira…

Andoni Iraola Celebrates Bournemouth’s Growing Success Following Bournemouth’s 2-1 victory against Arsenal last Saturday, manager Andoni Iraola wore a broad smile as he crossed the touchline. His pace was measured as he engaged with players, offering encouragement and acknowledging enthusiastic away supporters. With this victory, the team secured its third win in four matches, elevating them above the league leaders. A New Era for Bournemouth This is not the traditional Bournemouth known for shocking results. Instead, it highlights a transformation where the Cherries are increasingly welcomed in various arenas, indicating a promising period under Iraola’s leadership. A Remarkable Journey in…