Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), has asked African leaders to deepen intra-regional trade and cooperation to withstand global economic shocks in a tariff era.

Georgieva spoke on Thursday while briefing journalists on the global policy agenda at the spring meetings of the IMF and World Bank in Washington DC, the United States (US).

On April 22, the IMF said the global economic growth will drop to 2.8 percent this year, and 3 percent in 2026 — citing the US tariffs announcement, which has heightened uncertainty around the world and threatened global financial stability.

Speaking at the event, Goergieva said the African continent has had some of the fastest-growing economies over the last years, but low-income countries (and among them, fragile conflict-affected countries) are falling further behind.

She said the direct impact of the US tariffs on most of Africa is relatively small, noting that the indirect effect is quite significant.

The managing director stressed that slowing global growth will result in a downgrade for the continent.

“And actually, we have downgraded growth prospects for the continent,” Georgieva said.

“For the oil producers like Nigeria, falling oil prices create additional pressure on their budgets. On the other hand, for the oil importers, this is a breath of fresh air. In other words, different countries face different challenges.”

To navigate the turbulence, Georgieva asked African leaders to deepen intra-regional trade and cooperation and remove the obstacles to it.

She said while there are infrastructure obstacles, Africa has much to offer the world with its mineral resources and young population.

“The World Bank is working on reducing that infrastructure obstacle to growth and trade,” the IMF boss said.

“I think a more unified, more collaborative continent can go a long, long way to [becoming] an economic powerhouse.”

Georgieva also advised African governments to continue on a path of strengthening their fundamentals, stressing that a lot still needs to be done to bolster the fiscal side to have buffers for a moment of shock.

The economist also said more needs to be done to broaden the tax base and reduce tax evasion and avoidance, advising African countries to “chase the tax dollar” using technology.

“On the monetary policy side, we are no more in a place when you can look at the book of the Central Bank Governor of the neighbouring country and say, oh, they are doing this, I will do the same, because you have to really assess domestic resource mobilisation, what is your inflationary pressures and do the right thing for your country,” she said.

“But above all, make it so that the image of the whole continent changes because now everybody suffers from wrongdoing, from corruption or from conflict in one country. It throws a shadow on the rest of the continent.”

On April 22, the IMF said in emerging market and developing economies, growth is expected to slow down to 3.7 percent in 2025 and 3.9 percent in 2026.

[TheCable]

Aftermath of the 2025 IMF Article IV report on Nigeria and the IMF review of the global economic outlook growth; trade and tariff uncertainties along the sidelines of World Bank and IMF Spring meetings, Adetilewa Adebajo Investment Banker and Economist addressed a global audience on CNBC discussing the impact of global economic uncertainties on the Nigerian Economy.

Nigeria's economic growth forecast faces challenges amid domestic inflationary pressures and global trade disruptions, with the country striving to surpass IMF growth projections through sustainable growth strategies. Adebajo addressed Policy interventions to stimulate Investment, economic growth, jobs creation and inflation reduction to enhance household consumption and purchasing power as priorities.

Sale of Oil and Gas JV assets to Optimize Equity within the FGN Capital Structure and Balance Sheet are crucial for Nigeria's path towards sustainable development. The debt profile while manageable is not sustainable in the long term in view of the recent Fitch upgrade.

Adebajo also stressed efforts towards economic diversification, infrastructure development, and asset optimization as key drivers shaping Nigeria's economic recovery landscape and attracting global investments

Deliberate Investment projects such as the Agro Airport development and Olokola deep sea port, in Ogun State, major infrastructure projects led by companies like Arise and Dangote, need to be replicated nationwide. Adebajo expressed optimism about the potential economic growth drivers. He underscored the importance of government policies that support trade, domestic investments, and industrial development policies to foster a conducive environment for business growth and economic expansion. 

As Nigeria navigates the issues surrounding its bold economic reforms, stakeholders both foreign and local are closely monitoring policy decisions and investment initiatives to gauge the country's economic potential trajectory in the near term.

The acting National Chairman of the Peoples Democratic Party (PDP), Umar Damagum, has expressed disappointment with the decision of the Delta State Governor, Sheriff Oborevwori and the party’s 2023 vice-presidential candidate, Ifeanyi Okowa, to defect to the All Progressives Congress (APC).

Damagum expressed surprise at the defections, saying Delta state was expected to remain loyal to the PDP because the party had been good to the state.

Naija News reports that the PDP Chairman expressed his views on the defection for the first time on Thursday at the presentation of the certificate of return to the party’s governorship candidate for the November 8 election in Anambra State, Ambassador Jude Ezenwafor.

Damagum, however, expressed optimism that the PDP would be victorious in the 2027 polls despite the defections because the elections are about Nigerians and the APC.

He said, “If there is any state that shouldn’t have remained loyal to the party, it is not Delta, because the party has been very magnanimous.”

APC vs Nigeria

Damagum emphasized that the number of governors would not determine the outcome of the next election, citing how Peter Obi, despite having no governors, was able to gather significant votes in the 2023 election.

He further accused President Bola Tinubu of using coercion, intimidation, and persuasion to lure PDP members to the APC, adding that Nigerians are suffering due to the harsh policies of the current government.

“So I want to use this opportunity to tell Nigerians that this election is theirs. It is APC versus Nigerians. It is not APC versus any governor or senator, but APC versus Nigerians.

“We know there is a limit to what one can do beyond what God has designed. You may have your own tactics, but you cannot outplay God. We leave our fate in the hands of God, and we believe He will help us out of this great situation,” Damagum said.

Anambra 2025

Damagum expressed optimism that the PDP would emerge victorious in the 2025 Anambra governorship election and urged the party’s candidate to remain committed and resilient.

“I know it is not easy, but your commitment, belief, and sincerity will see us through this election. Victory will be yours.

“I want to encourage you. You have started well. From the evolution of the state executive to your emergence as our candidate, I believe you need to go back and consolidate. I’m going to make sure that everyone is back on board. I assure you of our total support and commitment,” he added.

[Naijanews]

In saner political climes, party defection is typically a rare event, one driven by a clash of ideas, conscience, or a principled stance on governance. Politicians in developed democracies often cross the aisle because they disagree with their party’s policy direction or seek a better platform to serve their constituents based on deeply held ideological beliefs. But in Nigeria, defection has become a career strategy, an open market for the highest bidder, and a shameful display of selfish ambition. The principles of party loyalty, ideological commitment, or even the dignity of public service have been thrown out the window. Instead, what we see is a political class whose only guiding star is personal gain.

The recent defections of top Delta State politicians, including former governor Ifeanyi Okowa and current governor Sheriff Oborevwori from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), are glaring examples of this opportunistic culture. Their movement to a party they once demonized is not rooted in any philosophical or ideological reawakening; it is a clear-cut survival move in anticipation of federal patronage. Okowa was Atiku Abubakar’s running mate in the last presidential election and vociferously opposed the APC. Today, he is dining with the same political forces he warned Nigerians about. What changed? Nothing but the coordinates of power.

Let us not sugarcoat it, defection in Nigeria is about power, access to state resources, and political protection. These defections are not random acts. They are well-calculated maneuvers timed around elections, tribunal judgments, or impending probes. It is not about the people; it is about the politician. Okowa’s defection, for instance, comes just as the PDP continues to reel from internal crises and waning relevance at the national level. Joining the ruling party is an insurance policy, not a new beginning in governance philosophy.

Even more ironic is the case of Governor Oborevwori, Okowa’s political godson, who rode to power on the back of PDP structures. Now, under Okowa’s influence, he too has jumped ship. How does one explain that the same political structure that delivered electoral victory under the PDP is now suddenly unsuitable for governance? This is not about governance. It is about staying on the good side of Abuja.

Let us go back a bit in history. The 2014 gale of defections remains one of the most defining moments in Nigeria’s political journey. It started with five PDP governors, Aliyu Wamakko (Sokoto), Rabiu Kwankwaso (Kano), Murtala Nyako (Adamawa), Rotimi Amaechi (Rivers), and Abdulfatah Ahmed (Kwara), jumping ship to the then opposition APC. They claimed PDP had derailed and become undemocratic. Many Nigerians believed them at the time, thinking they were indeed men of conscience. But what followed was a familiar pattern, appointments, contracts, and political protection. Those who moved to APC became instant beneficiaries of federal power and resources. When the tide turned against the APC in their states, many returned to PDP or moved elsewhere.

In another classic episode, the then Senate President, Bukola Saraki, defected back to PDP in 2018 after falling out with President Buhari. He cited democratic suppression and lack of internal democracy. But many Nigerians saw through it. Saraki’s moves were less about democracy and more about shielding himself from the political witch hunt that had begun following his emergence as Senate President against the wishes of the APC leadership.

Yahaya Bello, the immediate former governor of Kogi State, though not a defector himself, has also benefited from a culture of sycophancy where loyalty is not to ideology but to whoever holds the power baton. Politicians like Femi Fani-Kayode and Musiliu Obanikoro, who were once virulent critics of the APC, are now proud card-carrying members, praising the same administration they labeled dictatorial. What changed? Certainly not ideology.

The truth is that Nigeria’s political class has no ideology. In fact, political parties in Nigeria are often indistinguishable in terms of manifestos, policy thrusts, or national vision. What we have are political associations built around personalities and power blocs, not ideals. So, defection is not a shock; it is a continuation of the same agenda under a different party name.

Compare this to the political behavior in the United Kingdom or the United States. When British MPs like Anna Soubry and Chuka Umunna left the Conservative and Labour parties respectively to form the Independent Group (later Change UK), it was due to irreconcilable policy disagreements over Brexit. In the United States, Bernie Sanders is known for his progressive ideology, running as an independent while aligning with Democrats for strategic reasons, yet remaining firmly rooted in his social democratic values. Defection, in such cases, is principled, even if controversial.

In Nigeria, however, ideology is alien. There is no left or right, no conservative or progressive. Everyone is a capitalist at heart and a socialist in campaign rhetoric. When they need the people’s votes, they promise heaven and earth. Once in power, the electorate becomes an afterthought. The party system has become a vessel for personal ambition, not public service.

This cancer of opportunistic defection weakens democracy. First, it erodes party discipline and makes nonsense of the ballot. When people vote for a candidate under one party, only to see him defect weeks or months later, it feels like betrayal. It destabilizes the political ecosystem and confuses the electorate. Secondly, it renders opposition parties ineffective. When key leaders of opposition parties defect, especially to the ruling party, it destroys the checks and balances needed in a democracy.

The courts have failed to help the situation. Instead of establishing a constitutional barrier against this shameless culture, the judiciary has often legitimized it. While the Supreme Court has, in isolated cases, ruled that votes belong to political parties and not individuals, the enforcement of such rulings remains weak and inconsistent. What we need is an electoral reform that makes defection consequential, perhaps a mandatory forfeiture of elective office when a politician crosses over mid-term, unless the party itself splits.

The onus is also on Nigerians. We must begin to interrogate our political leaders more critically. Defectors should be held accountable, not celebrated. Citizens must reject this political prostitution by voting against defectors, no matter the platform. The media must also play its role in shaping narratives. Instead of romanticizing defections as “political masterstrokes,” we should call them out for what they are, betrayals.

Ultimately, until Nigeria builds a system where parties are driven by ideas, where politicians are held accountable to ideological commitments, and where defection carries real political cost, the vicious cycle will continue. And every time a politician defects, it won’t be a movement for the people, but a march of personal ambition.

We must break this cycle, because a democracy where politicians jump ship at will is not a democracy. It’s a bazaar. And in a bazaar, the highest bidder wins, not the most principled leader. That is the tragedy of Nigeria’s political evolution.

The Federal High Court in Abuja, on Thursday, gave the Economic and Financial Crimes Commission, EFCC, the go-ahead to arrest and detain six promoters of Crypto Bridge Exchange, CBEX, over alleged investment fraud to the tune of over one billion dollars.

Justice Emeka Nwite, who gave the order after the EFCC’s lawyer, Fadila Yusuf, moved an ex-parte motion to the effect, said the detention would be pending the conclusion of investigation of the alleged offences and possible prosecution.

“I have listened to the submission of the learner counsel for the applicant, EFCC. I have also gone through the affidavit evidence with exhibits thereto along with the written address.

“I am of the view and I hold that the application is meritorious. Consequently, the application is granted as prayed,” the judge said.

DAILY POST reports that the six suspects include Adefowora Abiodun Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, and Seyi Oloyede.

Others are Avwerosuo Otorudo and Chukwuebuka Ehirim as 1st to 6th defendants respectively.

In the motion dated and filed April 23 by Yusuf, the anti-graft agency sought two prayers, seeking an order of the honourable court for the issuance of warrant of arrest of the defendants.

It also prayed the court for “an order remanding the defendants in the custody of the complainant/applicant pending the conclusion of investigation of the alleged offences and possible prosecution.”

Giving four grounds, the lawyer said the EFCC has a statutory duty of prevention and detection of financial crimes through investigation.

She said there was an intel to the office of the commission’s chairman against the defendant bothering on various criminal offences.

According to her, the applicant has a constitutional duty to investigate these crimes and enforce law and order.

Yusuf said that “the defendants are at large and a warrant of arrest is required to arrest the defendants for proper investigation and prosecution of this case.”

In the affidavit in support of the motion, the EFCC said sometime in April, 2025, it received an intel bordering on an alleged investment scheme fraud against the defendants.

It alleged that the defendants and their company, ST Technologies International Limited, using another company, Crypto Bridge Exchange, CBEX, perpetrated the alleged fraud and the case was received and assigned to its Cybercrimes Section for investigation.

The anti-graft agency said that a warrant of arrest was required to place the defendants on red watch list so that they could be traced and arrested to answer to the case against them.

According to the commission, investigation into the allegation against the defendants revealed a prima facie case of investment scam.

It said it would be in the interest of justice to grant the application.

[DailyPost]

Pope Francis’ doctor recounts the pontiff’s final moments in a pair of newspaper interviews, saying the pontiff had his eyes open and was breathing with oxygen.

The doctor said that the pope was unresponsive after being stricken by illness early on Monday morning; he died without suffering at home.

Dr Sergio Alfieri coordinated Francis’ five-week hospital treatment for double pneumonia and continued to oversee the pope’s treatment after the pontiff returned to the Vatican on March 23 for two months of rest to allow a full recovery.

Alfieri was alerted at 5:30 a.m. on Monday by Francis’ healthcare assistant, Massimiliano Strappetti, that the pope had been stricken and needed to be taken to the hospital.

The doctor told the Milan daily Corriere della Sera that he arrived 20 minutes later.

“I went into his room, and he had his eyes open. I noted that he did not have respiratory issues, so I tried to call him, but he did not respond,” Alfieri was quoted by Corriere as saying, adding that his lungs were clear and he was receiving supplemental oxygen.

“He also did not respond to stimuli, even painful ones. In that moment I understood there was nothing more to do; he was in a coma.”

Alfieri said it was too risky moving Francis back to the Gemelli hospital, where he was treated for a complex respiratory infection that nearly killed him twice.

Two hours after falling ill, the pope died, having suffered a stroke.

“He died without suffering, at home, Alfieri told the Rome daily La Repubblica.

Cardinal Pietro Parolin arrived and said the rosary over the body, accompanied by the papal household staff, Alfieri told Corriere. “I gave him a caress as a farewell,” the doctor said.

Vatican News has reported that the pope managed a gesture of farewell to Strappetti after falling ill.

Alfieri became the pope’s surgeon when he needed treatment for diverticulitis in 2021; Alfieri tried to get him on a diet after the surgery.

After the pope suffered several severe respiratory crises in the hospital that required decisive treatment, the surgeon said, “We knew he wouldn’t return to his former condition and that the infection had left another scar on his lungs.”

“He improved with physical therapy. I saw him on Saturday, and I found him in good shape. I didn’t think it would be the last meeting,” Alfieri told La Repubblica.

Though Francis was ordered to rest and avoid crowds for two months to recover, Alfieri expressed understanding for the pope’s desire to return to work.

“Going back to work was part of his treatment, and he never exposed himself to dangers,” Alfieri told Corriere.

Francis couldn’t resist appearing in St Peter’s Square on Sunday, which culminated with a long drive through the Easter crowd of 50,000 on the popemobile, with several stops to bless children.

The pope insisted on inviting healthcare workers from the Gemelli hospital to the Vatican before Easter, even though the doctor suggested they wait until the end of the two-month convalescence in June.

“I have the clear sensation now that there were a series of things he felt he had to do before dying.

“We knew he wanted to return home to be pope until the last instant, and he didn’t disappoint us,” Alfieri told Corriere.

(AP/NAN)(w

Popular Nigerian businessman Obi Cubana has stirred debate on social media following a subtle response to his adopted son, Chidi, who recently referred to himself as the businessman’s “next of kin.”

Chidi had shared a post on TikTok with the caption, “Nothing do my shoulder, I just realised say I be next of kin.”

In what appeared to be a reaction, Obi Cubana posted a photo of himself and his biological son, Alex, on Instagram, with the caption: “Ancient and modern, eyes on the ball. @dtwalx aka next of kin.” He went further in the comment section to reinforce his stance, describing Alex as the “correct boy, original next-of-kin.”

The response sparked mixed reactions online, with some netizens criticising Cubana for handling a sensitive family matter in the public space rather than settling it privately.

This controversy has shown that in Nigeria, the term “next of kin” is widely misunderstood, especially among parents and guardians. Many people mistakenly believe that naming someone as their next of kin automatically grants that person the right to inherit their assets or properties upon their death.

Who is a Next of Kin

In Nigeria, a “next of kin” typically refers to a person’s closest living relative or a chosen emergency contact. This individual may be contacted in cases of emergencies, such as medical crises or accidents, and can be required to make decisions on behalf of the person when incapacitated.

The term is commonly used in medical settings, where hospitals contact the next of kin during emergencies or when consent is needed.

Financial institutions, where banks request a next of kin for administrative purposes, not for automatic inheritance, and legal and employment documents for notification or administrative follow-up in critical situations.

What rights does a next of kin have?

Contrary to popular belief, being listed as someone’s next of kin does not grant automatic rights to inheritance.

According to legal experts, a next of kin may assist with legal processes after someone’s death, such as obtaining a letter of administration.

He/she cannot access or claim the deceased’s assets unless explicitly named in a valid will or under applicable inheritance laws (customary, Islamic, or statutory).

A Lagos-based lawyer, Chief Malcolm Omirhobo, speaking on the matter, explained that, “There is this widespread misconception that if one dies, the fellow’s next-of-kin inherits all his or her assets, but that is not so under the Nigerian legal system. Generally, the question as to who to inherit is determined by law, that is, customary law, Islamic law, English Law, or the Administration of Estates law (or equivalent legislation).

“The law to be applicable in distributing the estate of a deceased shall be determined by the incidence of marriage of the deceased. It follows, therefore, that where a deceased contracted marriage under the Marriage Act, customary law is excluded, and succession to his wealth will be affected in accordance with either English law or the Administration of Estates Law (or equivalent legislation), depending on the jurisdiction. See Obuzez V. Obuzez (2007) 10 NWLR (Pt. 1043) 430.

What are the next of kin’s responsibilities?

Primarily, a next of kin is the first contact point if anything happens to you. The person can make decisions on your behalf in case you are unable to make decisions for yourself. This could come up before your death, whether due to illness, injury, or incapacitation.

Also, the next of kin can play a role in making serious healthcare decisions for the individual. This responsibility is particularly important when the individual is unable to communicate their wishes. Take a situation where someone is in a coma: the next of kin may be called upon to provide consent for medical treatments or end-of-life decisions.

Hundreds of women from the ancient Opobo Kingdom in Opobo/Nkoro Local Government Area of Rivers State on Thursday staged a protest, demanding the immediate reinstatement of their son, Governor Siminalayi Fubara.

The women condemned the declaration of a state of emergency and the purported suspension of the governor, describing both actions as unconstitutional.

They also rejected the appointment of a sole administrator to oversee the affairs of the state.

Led by the President of the Opobo Women Association, Amaopuorubo Felicia Pepple, the women expressed deep disappointment over the six-month suspension of Governor Fubara following the emergency rule declaration.

The protest began with a solemn prayer session at King Jaja Monument Square, with the women clad in black attire as they sought divine intervention.

A cleric, Venerable Michael Dappa of Christ Army Church, Opobo Diocese, delivered a sermon titled “The battle is the Lord’s”, inspiring the protesters.

The women then marched to the popular Water Side, chanting “Bring back our Governor,” as they sat on the bare ground and listened attentively.

In her speech, Pepple emphasised the governor’s positive impact on the state’s development and appealed to President Bola Tinubu to use his good office to ensure Governor Fubara’s swift return as governor.

The women urged all Nigerians of conscience to support their cause, stressing that the people of Rivers State continue to suffer under the emergency rule, saying, “We voted for our peaceful and amiable Governor, Sir Siminalayi Fubara. We say no to emergency rule.”

They highlighted a strong yearning for democratic governance and the restoration of their elected leader to continue the progress and prosperity he initiated in Rivers State.

They expressed sadness that Opobo Town, usually renowned for its vibrant Easter festivities, was silent this year following Fubara’s suspension.

A resident of Opobo, Blessing Accra-Jaja, described the holiday as “particularly sad,” noting that the town’s major landmarks, including King Jaja Monument Square and popular hotels, saw little or no activity.

“Business owners and boat operators reported sharp declines in patronage, with many describing Opobo as a ‘ghost town’,” she said.
Accra-Jaja urged the National Assembly Reconciliation Committee and President Tinubu to reinstate Governor Fubara, in hopes of restoring peace and the town’s festive spirit.

She called on the community to pray for the governor’s return, while pleading with the President to give him a second chance, stressing that the people of Rivers State and Nigeria love and support him.

[Punch]